Chongqing Iron & Steel cuts losses in first half of 2025

Chongqing Iron & Steel Company announced a substantial reduction in its net loss for the first half of 2025, with a reported net loss of 131,017,640.67 yuan compared to 689,212,586.56 yuan in the same period of 2024. This improvement is attributed to cost reduction and efficiency enhancements. Production data for the period shows plate output at 1.1844 million tonnes, hot rolled coil at 2.6408 million tonnes, and steel billet at 40,300 tonnes.

The company's total assets slightly increased by 0.10% to 35.513 bn yuan, while net assets attributable to shareholders decreased by 0.69% to 16.491 bn yuan. Sales revenue declined by 13.26% to 13.085 bn yuan. The company also confirmed its compliance with financial services agreements with Baowu Group Finance Co., Ltd., noting no abnormalities were found. Furthermore, a share repurchase of 69,760,540.41 yuan was completed and the repurchased shares were cancelled, reducing total share capital. The company will not distribute a mid-year dividend due to accumulated losses.