Angang Steel cuts net loss, announces leadership changes in Q3 2025

Angang Steel announced a substantial reduction in net loss, with Q3 2025 net profit attributable to shareholders increasing by 62.59% to RMB -896 million. The company's operating revenue for the period was RMB 24,493 million, a 2.86% increase compared to the previous year. This improvement is attributed to strategic initiatives in market expansion, cost reduction, and technological innovation.

Key leadership changes were also announced. On July 16, 2025, the company elected new employee directors, followed by the election of executive, non-executive, and independent non-executive directors on July 28, 2025, completing the board’s re-election. Subsequently, on August 25, 2025, Zhang Hongjun resigned as director and general manager, and Deng Qiang resigned as deputy general manager.

Tian Yong was appointed as the new general manager on August 26, 2025, and elected as an executive director on September 19, 2025. Furthermore, Angang Steel received approval from the China Securities Regulatory Commission to waive restrictions on Tian Yong holding a concurrent position as general manager of Anshan Iron and Steel Group Co., Ltd.