Nanjing Iron & Steel H1 2026 Revenue RMB31.13 billion Up 7.55%, Net Profit RMB1.32 billion Down 9.64%, Plans
Nanjing Iron & Steel reported H1 2026 revenue of RMB31.13 billion, up 7.55% year-on-year, and net profit attributable to shareholders of RMB1.32 billion, down 9.64%. Steel sales reached 4.75 million tonnes, up 5.73%. The company plans a cash dividend of RMB661 million, representing 50% of half-year net profit. Advanced steel materials accounted for 30.57% of steel sales, with gross profit up 2.56%. Exports rose 34% to 937,300 tonnes.
In the first half of 2026, Nanjing Iron & Steel achieved operating revenue of RMB31.131 billion, up 7.55% year-on-year; net profit attributable to shareholders was RMB1.322 billion, down 9.64% year-on-year; steel sales volume was 4.7488 million tonnes, up 5.73% year-on-year. During the same period, the total profit of the ferrous metal smelting and rolling processing industry was RMB31.77 billion, down 25.0% year-on-year. Excluding non-recurring gains and losses, the company's adjusted net profit attributable to shareholders was RMB1.127 billion, down 1.97% year-on-year; of which the second-quarter adjusted net profit was RMB695 million, up 61.33% quarter-on-quarter.
The company's core product, advanced steel materials, sold 1.4519 million tonnes in the first half, accounting for 30.57% of total steel product sales, a year-on-year increase of 0.8 percentage points; the gross margin was 19.83%, down 0.44 percentage points year-on-year; total gross profit was RMB1.402 billion, up 2.56% year-on-year, representing 47.61% of total steel product gross profit, up 0.94 percentage points year-on-year. Since the start of the 14th Five-Year Plan period, the sales share of advanced steel materials has risen from 17% to over 30%, while the share of construction rebar has been compressed from 20% to 5%. In the first half, the company achieved M-end process cost reduction of RMB541 million through measures such as raw fuel structure adjustment, technical and economic indicator improvements, and yield enhancement for key steel grades; the steel gross margin was 15.65%, down slightly by 0.59 percentage points year-on-year.
On the international front, the company's steel product exports reached 937,300 tonnes in the first half, up 34% year-on-year. The 100% scrap steel electric arc furnace cord wire obtained ISCC PLUS certification, making the company the first steel enterprise globally to receive this certification. In the overseas Indonesia coke project, Indonesia Jinrui coke sales were 1.1068 million tonnes, up 31.41% year-on-year; Indonesia Jinxiang coke sales were 1.4003 million tonnes, up 31.11% year-on-year; combined coke sales were 2.5071 million tonnes, up 31.24% year-on-year. On the digital intelligence front, the company built an AI-oriented data management system version 2.0, and its data asset accounting practice was selected for the 2026 (12th) MPAcc case; using the "Yuan Ye" large model as the core foundation, the company is promoting the upgrade of its self-developed technology to an industry open platform.
The company plans to distribute a cash dividend of RMB1.072 (tax inclusive) per 10 shares to all shareholders for the first half of 2026, with a total cash dividend of RMB661 million (tax inclusive), representing 50% of half-year net profit attributable to shareholders. Based on the closing price on June 30, 2026, the dividend yield (TTM) was 5.57%. Since 2018, the company has accumulated cash dividends of RMB11.8 billion, accounting for more than 50% of cumulative net profit attributable to shareholders.