Group 1 - The core viewpoint of the article is that Citigroup has issued a "buy" rating for Maanshan Iron & Steel Co., Ltd. (00323) with a target price of HKD 2.8 [1] - Maanshan Iron & Steel is expected to report a preliminary net loss of RMB 190 million to RMB 250 million for the previous year, which is better than Citigroup's expectation of approximately RMB 535 million [1] - The estimated median net loss for Maanshan in the fourth quarter is around RMB 304 million, primarily impacted by asset impairment following the acquisition of Baosteel, along with negative contributions from joint ventures [1] Group 2 - Despite the challenging conditions in the steel industry during the fourth quarter, the synergy effects from the merger with Baosteel are expected to continue to be realized, including optimization of management costs and management integration [1] - It is estimated that Maanshan's core business can still maintain profitability [1]
花旗：予马鞍山钢铁股份(00323)“买入”评级 目标价2.8港元