China Iron and Titanium (00893)'s profit warning expects that the net loss due to shareholders in the medium term will not be more than about 10 million yuan in profit and loss year-on-year

According to Zhitong Finance App News, China Iron and Titanium (00893) issued an announcement. Based on the information currently available to the Company and the preliminary review of the Group's unaudited comprehensive management accounts for the six months ended June 30, 2026 (first half of 2026), the Group expects the first half of 2026 to obtain a net loss (net loss) of no more than RMB 10 million (first half of 2025: net profit attributable to the owners of the Company).

Based on the information currently available to the Group, the net loss for the first half of 2026 was mainly due to:

Mining operations continued to be suspended in order to promote the upgrading and expansion of Maoling-Yanglongshan iron ore (as announced on September 30, 2025), resulting in a significant drop in production and sales of high-grade iron concentrates;

High inventories and weak demand in the steel consumption industry led to a decline in trade volume. In particular, the construction and real estate industries faced a continued decline in the property market; and

As the overall guarantee risk was drastically reduced, guarantee fee revenue from the former subsidiary relating to the China Iron and Titanium Guarantee declined.