Shandong Iron and Steel: Expected Net Loss of 370-450 Million Yuan in 2023

Shandong Iron and Steel announced that, according to preliminary calculations by the finance department, the net loss in 2023 is expected to be 3.7-4.5 billion yuan, resulting in a loss compared to the previous year. The steel market situation in 2023 is exceptionally severe, and the company is actively responding to the downward pressure in the steel market by continuously deepening lean management, benchmarking extensively, and strengthening market analysis. The company is focused on improving the purchase and sales price differentials and enhancing the linkage between production, purchase, and sales, but is still unable to eliminate the significant impact of the market's reduced profitability.