Angang Steel’s First-Quarter Loss Widens as Revenue Falls
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Angang Steel Co (HK:0347) reported a significant widening of its first-quarter 2026 net loss to RMB 1.46 billion, with operating income falling 12.19% to RMB 22.02 billion due to market pressures. Despite a 22.57% increase in net cash flows from operating activities, the company's profitability deteriorated, reflected in a negative earnings per share of RMB 0.156. Management confirmed the unaudited results, which lack non-standard auditor opinions. Analysts currently rate the stock as a Sell with a price target of HK$1.20, raising concerns about Angang Steel's financial performance in a challenging steel market.
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