Gansu Jiu Steel Group reports H1 2025 losses, adjusts related party transactions

Gansu Jiu Steel Group Hongxing Iron & Steel reported a 7.41% increase in total assets to 50.69 bn yuan by the end of H1 2025, while net assets attributable to shareholders decreased by 8.89% to 6.89 bn yuan. Operating revenue saw a 10.96% decline to 15.60 bn yuan, and net profit attributable to shareholders was a loss of 648.73m yuan. Basic earnings per share were -0.1036 yuan.

In conjunction with these financial results, the company announced adjustments to its 2025 estimated daily related party transaction limits. These adjustments were approved by the board on August 25, 2025, following a special independent director meeting on August 22, 2025. Key changes include increasing expected procurement from Hefei Industrial Products by 80m yuan, from Jiu Steel Group by 20m yuan, and from Ju Dong Real Estate by 190m yuan. Expected sales to Ju Dong Real Estate and Hecheng Energy will also increase by 200m yuan and 90m yuan, respectively. These adjustments are subject to shareholder approval. The company stated that these transactions ensure stable operations, fair pricing, and no detriment to shareholder interests.