Maanshan Iron & Steel faces loss, plans business overhaul

Maanshan Iron & Steel Co., Ltd. (SSE: 600808) announced a net loss of ¥4.66 billion attributable to shareholders in its 2024 annual report, a stark contrast to the ¥1.33 billion profit of the previous year. This downturn prompted the company to lay out comprehensive strategies for future sustainability, with key priorities revolving around improving operational efficiency, enhancing product competitiveness, and innovating its business model.