Core Viewpoint - The company reported a decline in revenue for the first half of 2025, but managed to increase net profit, indicating a potential resilience in profitability despite challenging market conditions [4]. Financial Performance - In H1 2025, the company achieved operating revenue of 63.092 billion, a year-on-year decrease of 16.93%. However, the net profit attributable to shareholders was 1.748 billion, reflecting a year-on-year increase of 31.31% [4]. - For Q2 2025, the company recorded operating revenue of 32.863 billion, down 15.52% year-on-year but up 8.71% quarter-on-quarter. The net profit attributable to shareholders was 1.186 billion, showing a year-on-year increase of 26.22% and a significant quarter-on-quarter increase of 111.05% [4]. Sales and Margins - In H1 2025, the company's sales volume for board materials decreased by 9.81%, while the gross profit per ton increased by 18.65% [5]. - The sales volume for long materials, board materials, and pipe materials saw year-on-year declines of 18.69%, 9.81%, and 4.40%, respectively. The average selling price per ton also decreased, while gross profit per ton increased significantly across all categories [5]. Automotive Sector Performance - The automotive subsidiary reported a net profit of 0.925 billion in H1 2025, a decrease of 18.38% year-on-year, contributing to 40% of the company's total net profit [6][8]. - The subsidiary is actively addressing supply chain integration and sustainability demands in the automotive industry, introducing new steel grades and solutions to enhance lightweighting and safety [6]. Market Position and Product Development - The company achieved a sales volume of 475,000 tons for oriented silicon steel in H1 2025, with a market share exceeding 60%, marking a 38% year-on-year increase [9]. - The proportion of specialty steel sales reached 68.5% in H1 2025, an increase of 3.9 percentage points year-on-year, driven by the development of new products and ongoing capacity upgrades [10].