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Angang Steel (SEHK:347) Stock Faces Lingering Losses Despite Flat Revenue

Simply Wall St · 1d ago

Angang Steel stock closed at HK$1.22 after the market had a day to absorb its Q2 numbers. The price sits on top of a flat 30 day return and a small gain over the past week, which suggests investors are still undecided on what comes next.

The headline is not about a sudden turnaround. Angang Steel remains loss making, with Q2 net income excluding extra items showing a loss of CNY 590 million and trailing twelve month losses of CNY 5.0b. The real question for you now is how long those losses can be carried, given the low P/S multiple and weak earnings outlook.

Is Angang Steel a genuine low-multiple opportunity at a 0.1x P/S, or has the market correctly priced in prolonged losses and weak earnings? See how the current share price lines up against our valuation analysis for Angang Steel

Q2 2026 Earnings Summary

  • Revenue, Q2 2026 vs. Q2 2025: CNY 23,886 million vs. CNY 23,520 million (broadly flat with a small increase)
  • Net Loss, Q2 2026 vs. Q2 2025: CNY 590 million loss vs. CNY 590 million loss (no change in quarterly loss)
  • Basic EPS, Q2 2026 vs. Q2 2025: loss of CNY 0.062499 per share vs. loss of CNY 0.063005 per share (slight improvement in per share loss)
  • Trailing 12 Month Net Loss to Q2 2026 vs. TTM to Q2 2025: CNY 5.0b loss vs. CNY 5.577b loss (reduced but still sizeable trailing loss)

Prefer clean, visual charts instead of another wall of numbers and footnotes? See Angang Steel’s full financial picture, with a clear view of its valuation in the company report for Angang Steel.

SEHK:347 Trailing 12-Month Earnings & Revenue History as at Aug 2026
SEHK:347 Trailing 12-Month Earnings & Revenue History as at Aug 2026

Angang Steel: Tentative Support For A Cautious Bull Story

For investors looking at Angang Steel as a macro linked value play, the latest quarter offers only modest support. Revenue of CNY 23,886 million is broadly in line with last year. The loss per share narrowed only slightly to CNY 0.062499. Trailing losses eased from CNY 5.577b to CNY 5.0b, which hints at some operational stabilisation. Short term share performance is mildly positive over 7 and 30 days, which suggests investors are not pricing in fresh deterioration, but there is little evidence yet of a clear earnings recovery.

Losses And Weak Returns Keep The Bear Case Alive

The bearish narrative on Angang Steel still has weight. The company remains loss making in Q2 with CNY 590 million of net loss, the same as a year ago. Trailing 12 month losses are still a sizeable CNY 5.0b even after some improvement. Share performance over 90 days has declined 3.2%, which aligns with ongoing concern about earnings quality. Revenue is flat and profitability is not yet moving in a clear positive direction. That keeps questions about the resilience of the business model very much in play.

With Angang Steel still loss making and trading on a very low P/S, the real stress test is whether the balance sheet and cash flows can carry prolonged losses without painful refinancing or dilution. Verify the real cushion by reviewing the full liquidity, leverage and cash runway breakdown in our financial health analysis of Angang Steel stock.

Stay Ahead With Simply Wall St

Angang Steel is still loss making with a very low P/S multiple, so registering for free with Simply Wall St and adding it to a Watchlist helps you watch how the share price moves against estimated fair value and decide when conditions look more attractive. After you build or adjust a position, manage your holdings through the Portfolio Command Center so you only see focused updates on valuation, fundamentals and key events instead of constant market noise. For a longer term view, use the Community to see how other investors are thinking about risks, catalysts and scenarios for Angang Steel. By surfacing potential turning points and red flags early, Simply Wall St helps you act with more confidence and stay informed about the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.