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The Steel Industry continues to feel the chill. The "top student" Hunan Valin Steel expects a maximum decline of 60% in performance for 2024 | Interpretations.
① Hunan Valin Steel expects to achieve a Net income of 1.7 billion yuan to -2.3 billion yuan attributable to the shareholders of the listed company in 2024, a year-on-year decline of 55% to 67%. ② The company announced on the same day that it intends to repurchase shares using self-owned funds or self-raised funds amounting to 0.2 billion yuan to -0.4 billion yuan, with the repurchase price not exceeding 5.80 yuan per share.
lingyuan iron & steel: Supply and demand imbalance has not been eased yet, the industry still needs to reduce overcapacity, control costs, and increase added value | Directly hit earnings conference
①The company recorded a loss of 0.841 billion yuan in the third quarter. Chairman Zhang Peng stated that the imbalance between supply and demand in the industry has not yet eased, and the future steel industry still needs to achieve sustainable development through capacity reduction, cost control, and increasing product added value. ②The actual controlling shareholder of the company will change from Chaoyang City State-owned Assets Supervision and Administration Commission to central enterprise Ansteel Group. The company expects that the governance system will be optimized, information systems upgraded, and synergy achieved in the business sector.
In the third quarter, the loss amount is close to the annual level of last year. How to solve the "dilemma" of the steel industry? Suggestions from the industry recommend actively reducing production.
①In the third quarter, the losses in the steel industry worsened, with 21 out of 27 listed steel smelting companies experiencing losses, totaling over 14.5 billion yuan, with the total quarterly loss amount almost approaching that of the entire previous year. ②Industry experts believe that the main reason for the losses is the overcapacity in the steel industry itself, poor industry self-discipline, failure to actively limit production, oversupply of products, continuous decline in steel prices, slow decrease in raw material prices, and severe industry profit compression.