Core Viewpoint - The company anticipates a significant increase in losses for the six months ending June 30, 2025, compared to the same period in 2024, primarily due to asset impairment provisions related to the K&S mine [1] Financial Performance - The expected loss attributable to shareholders for the six months ending June 30, 2025, is projected to be between $90 million and $110 million, compared to a loss of approximately $13.2 million for the same period in 2024 [1] - The increase in losses is mainly attributed to a potential asset impairment provision of about $120 million for the K&S mine, which was not present in the previous period [1] Operational Factors - The need for the asset impairment provision is primarily due to the appreciation of the Russian ruble, which has led to an increase in operating costs when measured in US dollars [1] - Shareholders are advised that any impairment charges or reversals are non-cash and non-recurring in nature, meaning they will not have a direct impact on the company's cash flow [1]

Core Viewpoint - The company expects a significant increase in losses for the six months ending June 30, 2025, with estimated losses between approximately $90 million and $110 million, compared to a loss of about $13.2 million for the same period ending June 30, 2024 [1] Group 1: Financial Performance - The anticipated increase in losses is primarily due to the need for an asset impairment provision of approximately $120 million related to the K&S mine, which was not required for the period ending June 30, 2024 [1] - The increase in operating costs, measured in USD, is attributed to the appreciation of the Russian Ruble [1] Group 2: Cash Flow Impact - Any impairment charges or reversals are classified as non-cash and non-recurring, indicating that they will not have a direct impact on the company's cash flow [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。本 公 告 下 文 所 載 的 資 料 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 本 公 司 股 份 的 邀 請 或 要 約。 承董事會命 鐵江現貨有限公司 首席執行官 Denis Cherednichenko 中 華 人 民 共 和 國，香 港 2025年8月21日（星 期 四） 於本公告日期，執行董事為Denis Cherednichenko先生。主席及非執行董事為Nikolai Levitskii先生。獨立非執行董事為Dmitry Dobryak先生、Natalia Ozhegina女士、Alexey Romanenko先生及Vitaly Sheremet先 生。 鐵江現貨有限公司 （於 香 港 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1029） 盈利警告 2025年8月21日（星 期 四）：本 公 告 由 鐵 ...

Group 1 - The core viewpoint indicates that the steel industry is facing a contradiction between strong supply capacity and weakened demand intensity, leading to a recovery in profits but insufficient sustainability [1] - As of late July 2025, the inventory of key steel enterprises was 14.78 million tons, a decrease of 880,000 tons (5.6%) from the previous period, but an increase of 2.41 million tons (19.5%) from the beginning of the year [1] - In the first half of the year, the cumulative operating income of key steel enterprises was 299.85 billion yuan, a year-on-year decrease of 5.79%, while total profits increased by 63.26% to 59.2 billion yuan [1] Group 2 - The report from Guotai Junan suggests that demand is expected to gradually bottom out, and the market-driven supply clearance in the steel industry has begun, indicating a potential recovery [2] - According to CITIC Securities, from January to July, China's steel exports reached 67.98 million tons, a year-on-year increase of 11.4%, driven by emerging market expansion and high-tech product competitiveness [2] - Recent policies signal an acceleration in capacity governance across multiple industries, including steel, with expectations for market elimination and technological replacement to optimize production [1][2] Group 3 - Related Hong Kong stocks in the steel sector include Maanshan Iron & Steel (00323), Ansteel (00347), China Oriental Group (00581), Iron Ore (01029), and Chongqing Iron & Steel (01053) [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。本 公 告 下 文 所 載 的 資 料 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 本 公 司 股 份 的 邀 請 或 要 約。 董事會議召開日期 2025年中期業績公佈將於2025年8月27日 2025年8月12日（星 期 二）：鐵 江 現 貨 有 限 公 司（「鐵江現貨」或「本公司」，連 同 其 附 屬 公 司，統 稱「本集團」）董事會（「董事會」）將 於2025年8月21日 召 開 會 議，以 考 慮 本公司及其附屬公司截至2025年6月30日 止 六 個 月 的 中 期 業 績，並 授 權 董 事 會 執行委員會（其 中 包 括）考 慮、落 實 及 批 准 本 公 司 及 其 附 屬 公 司 截 至2025年6月 30日 止 六 個 月 的 中 期 業 績。 董 事 會 謹 此 宣 佈，執 行 委 員 會 將 於2025年8月 ...

Group 1 - The steel sector in Hong Kong has seen significant gains, with Maanshan Iron & Steel rising nearly 13%, and other companies like Da Ming International and Ansteel also experiencing notable increases [1][2] - According to a report from Xinda Securities, despite the steel industry facing challenges such as prominent supply-demand contradictions and overall profit decline, the demand for steel is expected to remain stable or even slightly increase due to supportive factors like real estate stabilization, steady infrastructure investment, ongoing manufacturing development, and high steel exports [1] - The report suggests that the overall supply-demand situation in the steel industry is likely to remain stable, with expectations of tightening supply under the backdrop of policy controls and increasing industry concentration [1] Group 2 - The report indicates a positive outlook for the steel industry's structure, highlighting that some companies are currently undervalued, presenting structural investment opportunities, particularly for high-margin special steel enterprises and leading steel companies with strong cost control and scale effects [1] - The potential for valuation recovery in the future is emphasized, maintaining an optimistic rating for the industry [1]

Group 1 - Steel stocks have shown significant gains, with Maanshan Iron & Steel Co. rising by 10.96% to HKD 2.43, Angang Steel Co. increasing by 5% to HKD 2.31, and Chongqing Iron & Steel Co. up by 2.08% to HKD 1.47 [1] - The China Iron and Steel Association reported that the total operating revenue of key steel enterprises in the first half of the year was CNY 29,985 billion, a year-on-year decrease of 5.79%, while total profit increased by 63.26% to CNY 592 billion [1] - The average profit margin for the steel industry rose to 1.97%, an increase of 0.83 percentage points year-on-year, indicating some recovery in profitability despite ongoing challenges in supply and demand dynamics [1] Group 2 - The recent Politburo meeting emphasized "anti-involution" and the need for regulated competition in key industries, shifting the focus from merely eliminating low prices to rational competition aimed at improving industry profits [2] - Short-term steel demand is expected to enter a seasonal downturn, which may lead to a price correction due to rapid price increases [2] - Long-term capacity governance remains a primary focus, with a combination of market-oriented and administrative measures expected to optimize crude steel supply and enhance profitability for steel companies as new iron ore capacities are gradually released [2]

Group 1 - The core viewpoint of the article indicates that despite the steel industry facing significant supply-demand contradictions and overall profit decline, the implementation of "stabilizing growth" policies is expected to support steady or slightly increasing steel demand due to factors such as real estate stabilization, steady infrastructure investment, ongoing manufacturing development, and high steel exports [1][1][1] Group 2 - The report from Xinda Securities suggests that the overall supply-demand situation in the steel industry is likely to remain stable, with tightening supply under price control policies and increasing industry concentration [1][1][1] - The future industrial landscape of the steel sector is expected to improve steadily, with some companies currently undervalued, presenting structural investment opportunities, particularly for high-margin special steel enterprises and leading steel companies with strong cost control and scale effects [1][1][1] - The report maintains a "positive" rating for the steel industry, highlighting the potential for valuation recovery in the future [1][1][1] Group 3 - Notable stock performance includes Maanshan Iron & Steel rising nearly 13%, Daming International up nearly 9%, and several other steel companies showing gains of over 4% [1][1][1] - Specific stock prices and changes are as follows: Maanshan Iron & Steel at 2.470 with a 12.79% increase, Daming International at 0.860 with an 8.86% increase, and China Oriental Group at 1.860 with a 4.49% increase [1][1][1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 鐵江現貨有限公司 | | | 呈交日期: | 2025年8月1日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01029 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,277,948,588 | | 0 | | 1,277,948,588 | | 增加 / 減少 (-) | | | | | | ...

上市規則的涵義 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。本 公 告 下 文 所 載 的 資 料 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 本 公 司 股 份 的 邀 請 或 要 約。 （於 香 港 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1029） 須予披露交易 出售合營公司的股權 出售事項 於2025年7月28日（交 易 時 段 後），賣 方（本 公 司 的 全 資 附 屬 公 司）與買方訂立股 權 轉 讓 協 議，據 此，賣 方 同 意 出 售 而 買 方 同 意 按 股 權 轉 讓 協 議 所 載 條 款 及 條件購買合營公司的46%股 權，代 價 為 人 民 幣32.2百萬元（相 當 於 約4.5百萬美 元）。於 交 割 後，賣 方 將 不 再 於 合 營 公 司 擁 有 任 何 股 權。 由於有關出售事項的最高適用百分比率（定 義 見 上 市 規 ...