Ba Yi Iron & Steel reports loss, new investment plan

Xinjiang Ba Yi Iron & Steel (SSE:600581) has announced a net loss of CNY 1.752 billion for 2024, citing weak demand, high raw material costs, and declining steel prices. In response, the company is focusing on cost management, efficiency improvements, and green transformation. The annual report highlights ongoing environmental efforts, including the completion of ultra-low emission upgrades and a commitment to meet carbon emission targets. It's also pursuing technology upgrades and strategic alliances, while navigating challenges in the steel market. Despite this loss, the company has set a 2025 production goal: 488 tons of iron, 571 tons of steel, and 550 tons of material and is moving forward with a significant capital expenditure plan.