Chongqing Iron & Steel narrows H1 2025 loss despite revenue dip

Chongqing Iron & Steel Company Limited reported total production of 3,865,500 tonnes and sales of 3,882,700 tonnes of major products in the first half of 2025, with an average selling price of 3,146 yuan per tonne. The company recorded a total loss of 130 million yuan, a year-on-year decrease in losses of 683 million yuan, attributed to decreased raw material prices offsetting a decline in the average selling price of commodity billet by 11.28%.

The unaudited interim financial report for the six months ended June 30, 2025, shows total assets of 35,513,168,183.06 yuan, a slight increase of 0.10% from the end of last year. Revenue for the period was 13,085,208,976.53 yuan, down 13.26% year-on-year, primarily due to reduced sales income from commodity billet. Net profit attributable to shareholders was a loss of 131,017,640.67 yuan.

The company focused on cost reduction and efficiency improvement, implementing energy-saving technologies and achieving significant improvements in product quality indicators. Following a share repurchase program in 2024, 66,838,500 A shares were cancelled on February 19, 2025, reducing the total share count to 8,851,763,767. No interim dividend will be distributed due to negative accumulated undistributed profit.