Chongqing Steel: Loss Reported, Governance Overhauled After Q3 Data

Chongqing Iron & Steel Company Limited announced a net loss attributable to shareholders of RMB-87,309,147.80 for the third quarter of 2025, with total revenue from operations reaching RMB6,006,073,903.14. For the first three quarters of 2025, the net loss attributable to shareholders was RMB-218,326,788.47. The company’s total assets were RMB35,077,098,655.46 as of September 30, 2025.

Concurrently, the company announced significant amendments to its Articles of Association. These include the abolition of the supervisory committee, with its duties transferring to the audit and risk committee. These changes align with new Company Law requirements and aim to enhance corporate governance standards, including the deletion of provisions related to class shareholders.

Additionally, Chongqing Iron & Steel proposed appointing Deloitte CPA as its auditor for 2025, replacing Ernst & Young Hua Ming LLP. This change is due to a rotation requirement for state-owned enterprises. The audit fees for 2025 are set at RMB2.4083 million, a 5% decrease from the previous period.