JISCO Hongxing H1 Revenue RMB16.16B, Net Loss Narrows by RMB432M
JISCO Hongxing reported H1 2026 revenue of RMB16.159 billion, up 3.61% year-on-year, with net loss attributable to shareholders narrowing by RMB432 million. Operating cash flow turned positive at RMB407 million. The company improved blast furnace sinter ratio to 68.5%, cut production costs, and optimized debt structure. Steel sales reached 4.2633 million tonnes, up 208,300 tonnes year-on-year.
On the evening of August 28, JISCO Hongxing released its 2026 semi-annual report. During the reporting period, the company achieved operating revenue of RMB16.159 billion, up 3.61% year-on-year. The net loss attributable to shareholders of the listed company narrowed by RMB432 million compared with the same period last year, with the loss margin significantly reduced.
In the first half of the year, the company implemented 97 operational improvement measures and advanced quarterly operational planning. The sinter ratio in blast furnaces increased to 68.5%, driving down hot metal costs. Production-related expenses such as refractories, direct consumables, and business outsourcing decreased year-on-year. The company optimized its debt structure through interest rate negotiations and long-short loan swaps, continuously reducing financing costs. Net cash flow from operating activities reached RMB407 million, turning positive from negative year-on-year.
In terms of capacity optimization, the company broke down resource barriers between its Jiayuguan headquarters and Yuzhong steel plants, facilitating cross-base allocation of steel billets and concentrates. The heavy plate line achieved a record daily output of 4,116 tonnes; Hongbo steelmaking surpassed 10,000 tonnes per day; and the concentrator's suspension furnace throughput exceeded 5,000 tonnes. The company also developed multiple cross-line collaborative rolling processes and completed trial production of stainless steel rolling on the hot strip mill and titanium plate rolling.
On the procurement and sales front, the company expanded its economic resource procurement scale, with steady increases in purchases of iron ore concentrate from three regions and vanadium-titanium concentrate. Steel sales in the first half reached 4.2633 million tonnes, up 208,300 tonnes year-on-year. Deliveries to strategic customers grew steadily, and the direct supply ratio continued to rise. The company also ensured steel supply for major national projects and key construction initiatives.
In product mix adjustment, the company advanced high-end product production and delivery under its "4 million-tonne and 10 hundred-thousand-tonne" product matrix targets. Wind power steel secured orders from several leading companies; non-oriented silicon steel orders remained stable, and oriented silicon steel reached a supply agreement. Invar alloy completed core orders for key enterprises. High-carbon martensitic stainless steel entered the global high-end razor supply chain. Nuclear-grade stainless steel and hydrogen-energy steel achieved technological breakthroughs and commercial applications. The company was recognized as an advanced unit in science and technology work during China's 14th Five-Year Plan period for the steel industry, with multiple scientific achievements nominated for metallurgical science and technology awards and provincial science and technology progress awards, and a number of provincial "open competition" and joint research projects successfully initiated.