LIUSTEELCO(SH:601003)2025-01-16 08:49Financial Performance - The company expects a net profit attributable to shareholders of approximately -375 million to -470 million CNY for the year 2024, indicating a reduction in losses compared to the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is estimated to be around -419 million to -514 million CNY[5]. - In the same period last year, the net profit attributable to shareholders was -1.012 billion CNY, and the net profit after deducting non-recurring gains and losses was -1.114 billion CNY[6]. Industry Challenges - The company faced a challenging environment in the steel industry characterized by high production, high costs, high inventory, low demand, low prices, and low efficiency, referred to as the "three highs and three lows" situation[7]. Strategic Initiatives - The company has focused on high-end, intelligent, and green transformation, implementing measures such as upgrading production lines, optimizing product structure, increasing R&D investment, and promoting lean management[7]. Non-Operating Impacts - Non-operating gains and losses impacted net profit by approximately 44 million CNY, mainly from government subsidies and fixed asset disposal gains[7]. - A change in accounting treatment effective April 1, 2024, reduced fixed asset depreciation expenses, increasing net profit by approximately 251 million CNY[7]. Earnings Forecast - The company does not foresee any significant uncertainties affecting the accuracy of this earnings forecast[9]. - The data provided is preliminary and subject to final confirmation in the official 2024 annual report[10].