LING STEEL released its 2024 annual performance, with a net loss attributable to the parent company of 1.678 billion yuan

According to the Zhitong Finance APP, LING STEEL (600231.SH) disclosed its 2024 annual report. During the reporting period, the company achieved revenue of 18.097 billion yuan, a year-on-year decrease of 10.94%; the net profit attributable to shareholders was a loss of 1.678 billion yuan, a year-on-year increase; the net profit excluding non-recurring gains and losses was a loss of 1.471 billion yuan, a year-on-year increase; basic earnings per share were -0.59 yuan.

The company currently has 5 blast furnaces, including 2 with a capacity of 450m³, 2 with a capacity of 1000m³, and 1 with a capacity of 2300m³, with a pig iron production capacity of 5.35 million tons; 4 converters, all of which are 120 tons, with a crude steel production capacity of 5.995 million tons; and a steel production capacity of 7.01 million tons, including 1.4 million tons of strip steel, 600,000 tons of wire rod, 4.53 million tons of rebar, and 480,000 tons of steel pipes. Currently, the company is implementing the capacity replacement construction project for blast furnaces 1-4, planning to replace two 450m³ blast furnaces and two 1000m³ blast furnaces with one 2290m³ blast furnace and one 1200m³ blast furnace. The company will retire the two existing 450m³ blast furnaces and two 1000m³ blast furnaces, with a converted capacity of 3.39 million tons/year, and build two new blast furnaces with a converted capacity of 3.08 million tons/year, with a replacement ratio of 1.1:1. The project has completed public announcement and filing procedures, the 1# and 2# blast furnaces have been dismantled, and the 2290m³ blast furnace is under construction