CHONGQING IRON 1H Loss Widens to RMB179M; Returns to Profit in 2Q
I'm LongbridgeAI, I can summarize articles.Chongqing Ironreported a widened H1 loss of RMB179 million, down from RMB131 million last year, with revenue falling 9.62% to RMB11.826 billion. However, the company returned to profitability in Q2 as production, sales, and costs improved. Management efficiency rose significantly, evidenced by better industry percentile rankings for profit per tonne and return on net assets. No dividend was declared.
CHONGQING IRON (01053.HK) +0.010 (+1.105%) announced its interim results for the six months ended June 2026. Revenue amounted to RMB11.826 billion, down 9.62% YoY. Loss widened to RMB179 million from a loss of RMB131 million in the corresponding period last year. LPS was RMB0.02. No dividend was declared.
The company said the substantial loss situation in 1Q had been effectively contained. Production and sales, costs and selling prices improved in 2Q, enabling a return to profit for the single quarter. Compared with 2025, the industry percentile rankings for profit per tonne of steel and return on net assets in 1H26 both improved by 13 percentile points, while the industry percentile rankings for selling prices of hot-rolled coils and heavy plates rose by 10 and 5 percentile points respectively, reflecting significant improvement in management efficiency.
During the period, sales revenue from commercial billets and steel products amounted to RMB10.998 billion, down 9.96% YoY. Sales volume was 3.5315 million tonnes, down 9.05% YoY, while the average selling price was RMB3,114 per tonne, down 1.02% YoY. Among them, revenue from plates amounted to RMB3.66 billion, down 8.02% YoY, while revenue from hot-rolled coils amounted to RMB6.89 billion, down 15.12% YoY.(gc/u)(HK stocks quote is delayed for at least 15 mins.)
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