Core Viewpoint - Chongqing Steel's stock price has experienced fluctuations, with a recent decline of 2.58%, and the company has seen a net outflow of funds, indicating potential investor concerns [1] Financial Performance - As of June 30, 2023, Chongqing Steel reported a revenue of 13.085 billion yuan, a year-on-year decrease of 13.26%, while the net profit attributable to shareholders was -131 million yuan, reflecting an 80.99% increase compared to the previous year [2] - The company has a cumulative cash distribution of 520 million yuan since its A-share listing, with no cash distribution in the last three years [3] Stock Market Activity - The stock price of Chongqing Steel has increased by 4.86% year-to-date, but has seen a decline of 1.95% over the last five trading days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on July 2, where it recorded a net buy of -724.724 million yuan [1] Shareholder Information - As of June 30, 2023, the number of shareholders for Chongqing Steel was 175,100, a decrease of 2.99% from the previous period [2]

Core Viewpoint - Chongqing Steel is expected to significantly reduce its net loss in the first three quarters of 2025 compared to the same period last year, indicating improvements in profitability through cost reduction and sales enhancement strategies. Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of between -230 million and -210 million yuan for the first three quarters of 2025, representing a reduction in loss of 1.12 billion to 1.14 billion yuan compared to the previous year [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between -240 million and -220 million yuan, also reflecting a reduction in loss of 1.11 billion to 1.13 billion yuan year-on-year [1] Group 2: Operational Strategies - The significant reduction in net loss is attributed to dual strategies of "cost reduction in procurement" and "profit increase in sales," which have notably improved profitability [1] - The company has optimized its procurement process by enhancing local sourcing, precise inventory control, and optimizing the QP structure, leading to a significant reduction in procurement costs [1] - On the sales side, the company has expanded its channels, optimized product structure, and adjusted its business model, which has increased the value of its plate and coil products [1] Group 3: Efficiency and Risk Management - The company is implementing a dual-track approach of "cost reduction" and "efficiency enhancement" to strengthen its risk resistance capabilities [2] - It is advancing lean management across the entire production process, utilizing technology and efficient resource use to strictly control costs, achieving record highs in waste recycling and optimal steel consumption [2] - The company has also maintained a historical low in ore inventory and continuously optimized its risk management capabilities [2]

Group 1 - Hong Kong steel stocks experienced significant gains on October 15, with China Oriental Group rising by 6.67% to HKD 1.44 [1] - Maanshan Iron & Steel Co. saw an increase of 6.92%, reaching HKD 2.78 [1] - Ansteel Company reported a rise of 5.96%, trading at HKD 2.31 [1] - Chongqing Iron & Steel Co. increased by 2.88%, with a price of HKD 1.43 [1]

Group 1 - Steel stocks have shown significant gains, with China Oriental Group rising by 6.67% to HKD 1.44, Maanshan Iron & Steel increasing by 6.92% to HKD 2.78, Angang Steel up by 5.96% to HKD 2.31, and Chongqing Iron & Steel rising by 2.88% to HKD 1.43 [1] - Guotai Junan Securities reports that the negative impact of real estate on steel demand has significantly weakened, with demand expected to gradually bottom out; the prolonged losses in the supply side indicate that market-driven supply clearance is beginning to occur, suggesting a gradual recovery in the steel industry's fundamentals [1] - According to Sinolink Securities, under the backdrop of anti-involution, capacity management in the steel industry is expected to strengthen through safety production inspections and curbing disorderly competition and excess capacity release; the low export ratio of ordinary steel companies makes them less affected by overseas tariffs, and demand for steel in real estate and infrastructure is expected to marginally improve under the "stabilizing growth" policy [1] Group 2 - Current profits per ton of ordinary steel are considerable, and under the "anti-involution" context, there is significant room for performance improvement for ordinary steel companies, indicating a potential value recovery and favorable allocation opportunities for the steel sector [1]

Core Viewpoint - The steel sector is experiencing significant stock price increases, indicating a potential recovery in the industry as demand stabilizes and supply-side adjustments begin to take effect [1] Group 1: Stock Performance - China Oriental Group (00581) increased by 6.67%, reaching HKD 1.44 - Maanshan Iron & Steel Company (00323) rose by 6.92%, reaching HKD 2.78 - Ansteel Company (00347) saw a 5.96% increase, reaching HKD 2.31 - Chongqing Iron & Steel Company (01053) grew by 2.88%, reaching HKD 1.43 [1] Group 2: Demand and Supply Dynamics - The negative impact of real estate on steel demand has significantly weakened, with expectations for demand to gradually bottom out [1] - The steel industry has been experiencing prolonged losses, leading to market-driven supply adjustments, which are anticipated to improve the industry's fundamentals [1] - If supply policies are implemented, the contraction of supply may accelerate, facilitating a quicker recovery in the industry [1] Group 3: Industry Management and Outlook - Under the backdrop of reducing competition, enhanced capacity management in the steel industry is expected through safety production inspections and curbing excessive competition and surplus capacity [1] - Companies with lower export ratios, particularly ordinary steel producers, are less affected by overseas tariffs, and demand from real estate and infrastructure sectors is expected to marginally improve under the government's "stabilizing growth" policies [1] - Current profits per ton of ordinary steel are substantial, and under the "anti-involution" context, there is significant potential for performance improvement among ordinary steel companies, indicating a favorable investment opportunity in the steel sector [1]

证券代码：601005 股票简称：重庆钢铁 公告编号：2025-036 重庆钢铁股份有限公司 Chongqing Iron & Steel Company Limited （在中华人民共和国注册成立的股份有限公司） 2025 年三季度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 一、本期业绩预告情况 2025 年 1 月 1 日至 2025 年 9 月 30 日。 （二）业绩预告情况 经财务部门初步测算，预计 2025 年前三季度实现归属于上市公 司股东的净利润为-2.3 亿元至-2.1 亿元，与上年同期相比，预计减 亏 11.2 亿元至 11.4 亿元。 预计 2025 年前三季度实现归属于上市公司股东的扣除非经常性 损益后的净利润为-2.4 亿元至-2.2 亿元，与上年同期相比，预计减 亏 11.1 亿元至 11.3 亿元。 （三）本次业绩预告的数据未经会计师事务所审计。 二、上年同期业绩情况 （一）归属于上市公司股东的净利润：-13.50 亿元，归属于上 市公司股东的扣除非经常性损益的净利润：-13.54 亿元。 （二）每股收益：-0.15 元/股。 三、本期业绩变动的 ...

Core Viewpoint - Chongqing Steel's Q3 2025 performance forecast indicates a net loss of RMB 210 million to RMB 230 million, showing a significant reduction in losses compared to the previous year [1] Group 1: Financial Performance - The expected net loss attributable to shareholders for the first three quarters of 2025 is RMB 210 million to RMB 230 million, representing a reduction in losses of RMB 1.12 billion to RMB 1.14 billion year-on-year [1] - The forecasted net loss after excluding non-recurring gains and losses is RMB 220 million to RMB 240 million, with a year-on-year reduction in losses of RMB 1.11 billion to RMB 1.13 billion [1] Group 2: Profitability Improvement - The significant reduction in net loss is attributed to dual strategies of "cost reduction in procurement" and "profit increase in sales," which have notably improved profitability [1] - On the procurement side, the company has deepened localized sourcing, optimized inventory control, and maintained a stable QP structure, leading to precise cost reductions [1] - On the sales side, the company has expanded channels, optimized product structure, and adjusted business models, which have increased the value of plate and coil products [1] Group 3: Cost Control and Efficiency - The company is enhancing its risk resilience through parallel strategies of "cost reduction" and "efficiency improvement" [2] - It is implementing lean management across the production process, optimizing technology and resource utilization to strictly control costs, achieving record high recycling of solid waste, and minimizing energy consumption [2] - Continuous fine management has led to historically low iron ore inventory and improved risk management capabilities [2]

Core Viewpoint - Chongqing Steel's preliminary forecast for Q3 2025 indicates a net loss attributable to shareholders of RMB 210 million to RMB 230 million, representing a significant reduction in losses compared to the previous year [1] Group 1: Financial Performance - The expected net loss for the first three quarters of 2025 is projected to be between RMB 220 million and RMB 240 million, with a reduction in losses of RMB 111 million to RMB 113 million compared to the same period last year [1] - The main reasons for the significant reduction in net loss include improved profitability through cost reduction in procurement and increased sales revenue [1] Group 2: Operational Improvements - The company has implemented a dual approach of "cost reduction" and "efficiency enhancement" to strengthen its risk resilience [2] - Efforts include lean management across the production process, optimizing resource utilization, and achieving record highs in the recycling of solid waste, leading to the lowest annual coal consumption ratio [2] - Continuous fine-tuning of inventory management has resulted in historically low iron ore inventory levels, enhancing risk management capabilities [2]

Core Viewpoint - Chongqing Steel (601005) is expected to significantly reduce its net loss for the first three quarters of 2025, projecting a loss of RMB 210 million to RMB 230 million, which is an improvement of RMB 1.12 billion to RMB 1.14 billion compared to the same period last year [1][2] Group 1 - The main reasons for the expected reduction in losses include "cost reduction in procurement" and "profit increase in sales," which have significantly improved profitability [2] - On the procurement side, the company has deepened its localized layout, optimized inventory control, and maintained a stable QP structure, achieving precise cost reductions [2] - On the sales side, the company has expanded channels, optimized product structure, and adjusted business models, leading to an increase in the value of plate and coil products [2] Group 2 - The company is enhancing its risk resistance through "cost reduction" and "efficiency improvement" [2] - It is implementing lean management across the production process, optimizing technology, and utilizing resources efficiently to control costs [2] - The company has achieved a historical low in ore inventory and continuously optimized its risk management capabilities [2]

Core Viewpoint - Chongqing Steel is expected to significantly reduce its net loss for the first three quarters of 2025, with estimates ranging from RMB 210 million to RMB 230 million, compared to a reduction of RMB 1.12 billion to RMB 1.14 billion year-on-year [1] Group 1 - The company anticipates a net loss attributable to shareholders, excluding non-recurring gains and losses, of RMB 220 million to RMB 240 million for the same period, reflecting a year-on-year reduction of RMB 1.11 billion to RMB 1.13 billion [1] - The major reasons for the expected reduction in losses include "cost reduction in procurement" and "profit increase in sales," which have significantly improved profitability [1] - On the procurement side, the company has deepened localized sourcing, optimized inventory control, and maintained a stable QP structure, achieving precise cost reductions [1] Group 2 - On the sales side, the company has expanded channels, optimized product structure, and adjusted business models, leading to an increase in the value of plate and coil products [2] - The company has also improved its risk resistance capabilities through "cost reduction" and "efficiency enhancement," implementing lean management across the production process [2] - The company has achieved record highs in the recycling of solid waste and optimal consumption of steel materials, while energy utilization efficiency has steadily improved [2]