HK Stock Market Move | Angang Steel (00347) fell by more than 5%, expecting a net loss attributable to shareholders of approximately 4.077 billion yuan for the year. The overall market's strong supply and weak demand situation has not improved.

Angang Steel (00347) fell more than 5%, dropping 5.45% to 1.91 Hong Kong dollars as of press time, with a turnover of 221.23 million Hong Kong dollars. On the news front, on January 30, Angang Steel announced that it expects the net loss attributable to the company's shareholders (together with its subsidiaries referred to as "the Group") for the 12 months ending December 31, 2025 to decrease compared to the same period in 2024. The net loss attributable to the company's shareholders is expected to be approximately RMB 4.077 billion, a decrease of about RMB 3.045 billion, a decrease of approximately 42.75% year-on-year; the net loss attributable to the company's shareholders after excluding non-recurring gains and losses is expected to be approximately RMB 4.228 billion, a narrowing of about 41.29% compared to the same period in the previous year; and a basic loss per share of about RMB 0.435. The announcement stated that the reason for the reduction in losses is that in 2025, the steel industry situation has improved compared to the previous year, but the overall market supply remains strong and demand weak, and the situation has not fundamentally improved. Faced with market pressure, the company continues to promote "focus on value creation, comprehensive accounting management" work, increase market development and product quality efforts, enhance operational efficiency, tap into energy potential, optimize procurement radius, focus on system cost reduction, and has arranged for major production line modifications to enhance market competitiveness, with the overall operating situation improving.