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Angang Steel Co ( (HK:0347) ) has shared an announcement.
Angang Steel reported unaudited first-quarter 2026 results showing operating income of RMB 22.02 billion, down 12.19% from a year earlier, as market pressures weighed on revenue. The company’s net loss attributable to shareholders widened sharply to RMB 1.46 billion, with basic and diluted earnings per share falling to a negative RMB 0.156 and weighted average return on net assets dropping to -3.38%, underscoring deteriorating profitability despite a 22.57% improvement in net cash flows from operating activities.
Management affirmed the truthfulness and completeness of the quarterly figures, noting that the report is unaudited but free of non-standard auditor opinions. The deepening losses and weaker margins highlight ongoing operational challenges for Angang Steel and may heighten concern among investors and other stakeholders about the company’s short-term financial performance and competitive position in a difficult steel market environment.
The most recent analyst rating on (HK:0347) stock is a Sell with a HK$1.20 price target. To see the full list of analyst forecasts on Angang Steel Co stock, see the HK:0347 Stock Forecast page.
More about Angang Steel Co
Angang Steel Company Limited is a Chinese steel producer listed in Hong Kong and Shenzhen, operating in the iron and steel industry. The company manufactures and sells a wide range of steel products and is subject to Chinese Accounting Standards and Hong Kong and Shenzhen stock exchange disclosure rules.
Average Trading Volume: 15,300,325
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$22.76B
Find detailed analytics on 0347 stock on TipRanks’ Stock Analysis page.