Angang Steel Company Limited provided unaudited earnings guidance for the year ended 31 December 2021. for the year, the company expects Net profit attributable to shareholders of the company to be approximately RMB 7,040 million as compared to RMB 1,978 million a year ago. Basic earnings per share is expected to be approximately RMB 0.752 as compared to RMB 0.210 a year ago.

The estimated increase in the net profit attributable to shareholders of the Company as compared with 2020 is primarily due to the following reasons: in 2021, as there was a good overall performance of the iron and steel industry, the Company firmly seized the market opportunities, actively adapted to the market changes and the adjustment of national industrial policies, properly coped with the impact of uncertainties such as ever-evolving pandemic, extreme weather, production and power restrictions, and tried its best to overcome the adverse impact of high raw fuel prices, and effectively organised the production and operation activities, optimised the procurement and marketing strategies, vigorously adjusted the product variety structure, at the same time strengthened the meticulous management, and promoted continuous improvement and upgrading of various technical and economic indicators through benchmarking and exploring potential. The Company achieved significant results in cost reduction in the aspect of production process, and a stable and sound production and operation. A significant increase in net profit attributable to shareholders of the Company has been achieved as compared with the last year.