Chongqing Iron & Steel Clarifies Illustrative Profit Figures in 2025 A-Share Issuance Plan

Claim 50% Off TipRanks Premium and Invest with Confidence Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potentialAn update from Chongqing Iron & Steel Co., Ltd. Class H ( (HK:1053) ) is now available. Chongqing Iron & Steel Company Limited has released details of its 2025 plan to issue A shares to specific investors, as disclosed on the Shanghai Stock Exchange, in accordance with PRC company and securities regulations. The announcement clarifies that certain net profit figures for 2025 and 2026, included to illustrate the impact of the share issuance on key financial indicators, constitute a profit forecast under Hong Kong’s Takeovers Code but were not prepared or reported under that code’s standards. As a result, the company warns shareholders and investors not to treat these figures as a forecast of future profitability and to exercise caution when assessing the proposed issuance and trading in its securities. Chongqing Iron & Steel has applied to the Securities and Futures Commission for, and received an indication it is minded to grant, a waiver from the formal reporting requirements of Rule 10 of the Takeovers Code on the grounds that the profit information is legally required in the PRC, illustrative only, and would be unduly burdensome to fully comply with Hong Kong requirements. More about Chongqing Iron & Steel Co., Ltd. Class H Chongqing Iron & Steel Company Limited is a Chinese steel producer listed in both Shanghai and Hong Kong, operating in the iron and steel manufacturing industry. The company focuses on producing and selling a range of steel products to domestic and overseas industrial customers, and its H shares are traded on the Hong Kong Stock Exchange while its A shares are listed on the Shanghai Stock Exchange under stock code 601005. Average Trading Volume: 13,832,521 Technical Sentiment Signal: Hold Current Market Cap: HK$14.03B For an in-depth examination of 1053 stock, go to TipRanks’ Overview page.