Bao Gang United Steel Sees H1 2026 Net Profit Surge 52% to 98% YoY Amid Market Challenges

Published: Jul 13, 2026 17:53

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[Bao Gang United Steel: H1 Net Profit Expected to Increase 52% to 98% YoY] Bao Gang United Steel announced that it expects its H1 2026 net profit attributable to shareholders of the parent company to be between 230 million yuan and 300 million yuan, an increase of 78.67 million yuan to 149 million yuan compared with the same period last year, up 52% to 98% YoY. H1 2026 net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses is expected to be between 340 million yuan and 500 million yuan, an increase of 233 million yuan to 393 million yuan compared with the same period last year, up 218% to 368% YoY. In H1 2026, steel market demand was weak, structural differentiation was evident, and the rise in coal and coke raw material prices squeezed enterprises' profit margins. Facing downward pressure on the industry, the company firmly adhered to the "high-quality premium steel + series rare earth steel" strategy, deepened product structure adjustment, increased the production and sales proportion of high value-added new steel materials, and comprehensively promoted cost reduction and efficiency improvement across the entire process. Coupled with the gradual resumption of production at some production lines and the rise in the rare earth market, the company turned losses into profits overall in Q2, achieving a significant increase in H1 profitability.

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