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Shandong Iron & Steel details 2024 financials, sets 2025 plans

April 30, 2025 at 05:07 AM UTCBy FilingReader AI

** Shandong Iron & Steel Co. (SSE:600022) released its 2024 annual report and a series of related announcements, detailing a challenging year and setting the stage for a strategic turnaround in 2025. While reporting a decrease in total assets to CNY65.31 billion and a net loss attributable to shareholders of CNY2.26 billion, the company outlined an emphasis on innovation, efficiency, and cost control. As part of this plan, capital expenditures are slated at CNY973.32 million, directed toward upgrading key infrastructure and enhancing production efficiency. Shandong Steel is not proposing a dividend for 2024, citing a loss position. A significant leadership change was revealed, with a board resolution appointing Zhang Runsheng as General Manager, effective April 28, 2025. Alongside the financials, Shandong Steel announced plans to liquidate a subsidiary, Shandong Lusteel Trade, to streamline operations. These measures are designed to address ongoing industry pressures and position the company for improved profitability and sustainable growth.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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