Xinyu Steel disclosed its earnings forecast, expecting a net loss attributable to the parent company of 588 million to 613 million yuan in the first half of 2026, compared with a profit of 111 million yuan in the same period last year. The company's net loss after deducting non-recurring items is expected to be 690 million to 715 million yuan, compared with a loss of 61.4537 million yuan in the same period last year. The announcement said that the steel industry's prominent supply-demand contradiction, high and volatile raw material prices, combined with the company's system-wide maintenance of blast furnaces and supporting systems at the beginning of the year, which led to a decline in production and sales scale and an increase in maintenance costs, as well as the provision for personnel reform costs, jointly led to the expected loss in the first half of the year. However, after the completion of the major overhaul in the second quarter, production returned to normal, and the company expects to achieve a net profit attributable to the parent company of 120 million to 145 million yuan in the second quarter, an improvement from the previous quarter.
Xinyu Iron & Steel Co LtdExpects a net loss of 588-613 million yuan in H1 2026, a sharp reversal from a profit of 111 million yuan a year earlier.