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Chongqing Iron & Steel Co., Ltd. Class H ( (HK:1053) ) has shared an update.
Chongqing Iron & Steel Co., Ltd. has announced an estimated net loss of approximately RMB3,253 million for the year 2024, highlighting a challenging period for the company. The losses are attributed to factors such as high production costs, low demand, and high inventory levels in the domestic iron and steel industry, alongside strategic asset impairments. Despite these setbacks, the company has implemented measures to manage costs, enhance operational efficiency, and maintain positive cash flow, ensuring the continuity of its production and operations.
More about Chongqing Iron & Steel Co., Ltd. Class H
Chongqing Iron & Steel Co., Ltd. operates in the iron and steel industry, focusing on the production and supply of steel products. The company is involved in the manufacturing and distribution of various steel products, catering to both domestic and international markets.
YTD Price Performance: 0.0%
Average Trading Volume: 20,667
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €1.59B
See more data about 1053 stock on TipRanks’ Stock Analysis page.
