Zhi Tong Cai Jing·2025-12-01 09:17Core Viewpoint - The steel industry is expected to turn profitable in Q1-Q3 2025, showing significant improvement in profitability due to supportive policies and market conditions [1][2] Group 1: 2025 Review - The steel industry has shown signs of marginal improvement, with a revenue of 1,425.205 billion (+6.4%) and a net profit of 21.853 billion, marking a turnaround from losses [1] - In Q3 2025, the industry achieved a revenue of 480.123 billion (+0.1%) and a net profit of 8.716 billion, also turning profitable year-on-year [1] - The implementation of anti-involution policies and clear environmental and energy efficiency standards are expected to accelerate industry consolidation [1] Group 2: 2026 Outlook - The company holds an optimistic view for the steel industry in 2026, driven by the continuous promotion of favorable policies [2] - The "Steel Industry Energy Saving and Carbon Reduction Special Action Plan" aims for 30% of production capacity to meet benchmark energy efficiency levels by the end of 2025, leading to rapid capacity clearance [2] - The industry is expected to see marginal improvements in performance, with a projected annual growth rate of around 4% for value-added in 2025-2026 [2]