Bengang Steel Plates reports Q3 2025 results, details acquisition and asset swap

Bengang Steel Plates Co., Ltd. reported a net loss of 2.22 bn yuan for the first three quarters of 2025, an improvement of 30.60% compared to the same period last year, and a third-quarter net loss of 816.51m yuan. Operating revenue for the first three quarters decreased by 12.47% to 35.20 bn yuan. The company's total assets increased by 2.00% to 46.73 bn yuan compared to the end of last year.

The company's board of directors approved the third-quarter report on October 28, 2025. This follows the acquisition of 100% equity in Northern Hengda Logistics Co., Ltd. from Bengang Group Co., Ltd. via cash, which was completed on December 25, 2024, leading to a retrospective adjustment of financial data.

Additionally, Bengang Steel Plates is proposing a major asset restructuring, which includes swapping assets with Bengang Steel Plates (Group) Mining Co., Ltd. for its 100% equity. This transaction, initially disclosed on June 20, 2023, is still under discussion and verification, with further board review pending once the final plan is confirmed.