Chongqing Iron & Steel Warns on 2025 Loss Estimate as Takeovers Code Compliance Lags

An announcement from Chongqing Iron & Steel Co., Ltd. Class H ( (HK:1053) ) is now available.

Chongqing Iron & Steel Company Limited has issued a clarification regarding its previously announced 2025 loss estimate, in the context of an ongoing issuance of A shares to a specific subscriber and an associated whitewash waiver application. The board acknowledged that, because the offer period under the Takeovers Code began on 19 December 2025, the earlier loss estimate constitutes a profit forecast under the code and was released without the required reports from financial advisers and auditors and without the required responsibility statement. The company plans to include the necessary adviser and auditor reports, and restate the loss estimate in full, in the forthcoming circular to shareholders, and has pledged to improve its future compliance with the Takeovers Code. Until then, shareholders and potential investors are explicitly cautioned against placing reliance on the earlier loss estimate when assessing the A-share issuance and whitewash waiver, and are urged to exercise extreme caution in trading the company’s securities.

The most recent analyst rating on (HK:1053) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Chongqing Iron & Steel Co., Ltd. Class H stock, see the HK:1053 Stock Forecast page.

More about Chongqing Iron & Steel Co., Ltd. Class H

Chongqing Iron & Steel Company Limited is a mainland Chinese steel producer, primarily engaged in the manufacture and sale of iron and steel products. Its shares are listed in Hong Kong, giving it access to international capital markets and subjecting it to both Hong Kong Listing Rules and the Takeovers Code in relation to corporate actions and disclosures.

Average Trading Volume: 8,882,973

Technical Sentiment Signal: Buy

Current Market Cap: HK$14.69B

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