Angang Steel 347

Re: Angang Steel 347

Postby winston » Mon Oct 15, 2012 12:04 pm

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<Research Report>ANGANG STEEL (00347.HK) maintained at Hold by Deutsche on disappointing results of last quarter

Deutsche noted in a report that ANGANG STEEL (00347.HK) announced the preliminary loss in the third quarter amounted to RMB1.2 billion, 56% higher than the Bank's estimates; and the net loss of the first nine months was obviously higher than market consensus.

The Bank believes that the oversupply situation and the problem of industrial fragmentation will continue to impact the profitability of steel prices for a long period of time.

As long as the industry does not see any meaningful structural improvements, the steel stocks would not be re-rated, Deutsche said.

Angang Steel's rating is maintained at Hold by the Bank with target price of $3.54.


Source: AAStocks Financial News
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Re: Angang Steel 347

Postby winston » Mon Oct 15, 2012 1:13 pm

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ANGANG STEEL (00347.HK) maintained at Buy by JPM as 3Q loss within expectations

JP Morgan noted in a report that the current inventory of ANGANG STEEL (00347.HK) is at 3-year low and the Company will be benefited from the the peak demand season in the fourth quarter, therefore the rating is maintained at Buy.

Angang earlier issued a profit warning expecting that for the first nine months of this year, the net loss would total about RMB3.17 billion.

The bank believe such was in line with expectations.

The target price for the H-share is maintained at $5.5.


Source: AStocks Financial News
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Re: Angang Steel 347

Postby winston » Thu Oct 25, 2012 8:00 am

DJ Angang Steel 3rd-Quarter Net Loss 1.19B Vs. CNY19M Net Profit

SHANGHAI--Angang Steel Co. (0347.HK) Wednesday said it swung to a third-quarter net loss of 1.19 billion yuan ($190.3 million) as the broad economic slowdown, low steel prices and sluggish worlnd-wide demand weighed on profitability.

Hong Kong- and Shenzhen-listed Angang Steel's net loss for the three months ended Sept. 30 compares with a net profit of CNY19 million a year earlier.

Revenue fell 18.8% to CNY19.00 billion from CNY23.38 billion, the listed unit of Anshan Iron & Steel Group Corp. said.

"Steel prices slid sharply in the third quarter and no matter how hard the company tried to curb costs, it wasn't enough to compensate for the losses from the low prices," the company said.

Angang Steel is based in Anshan, Liaoning province, and produces steel plates, small H-shaped steel beams, train wheels and wheel rims.

Angang Steel issued a profit warning in mid-October tipping a net loss of CNY3.17 billion for the nine months ended Sept. 30 and a CNY3.5 billion loss for the full year.


Source: Dow Jones & Company, Inc.
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Re: Angang Steel 347

Postby winston » Sun Mar 31, 2013 2:31 pm

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<China Ent Results>ANGANG STEEL (00347.HK) FY loss extends to RMB4.16B

ANGANG STEEL (00347.HK) announced, for 2012, the loss extended to RMB4.157 billion, representing loss per share of RMB0.575.

No dividend was declared.


Source: AAStocks Financial News
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Re: Angang Steel 347

Postby winston » Sat Jan 25, 2014 8:52 pm

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ANGANG STEEL (00347.HK) downgraded to Neutral with target $5.5 - JPM
2014-01-24

JP Morgan pointed out ANGANG STEEL (00347.HK) -0.090 (1.721%) Short selling $11.68M; Ratio 31.640% had projected annual net profit of the group will reach RMB770 million in fiscal 2013, marking a substantial improvement from loss of RMB4.1 billion in fiscal 2012.

Nevertheless, the estimation had trailed the expectations of the bank and the market.

Profit in 4Q tumbled 92% quarterly to RMB5 million, due to sluggish steel price and gross profit.

2013-2015 core earnings forecasts were trimmed by 12%, 10% and 10%.

Rating was downgraded from Overweight to Neutral, and target price stayed at $5.5.


Source: AAStocks Financial News
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Re: Angang Steel 347

Postby winston » Wed Jul 13, 2016 10:53 am

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Angang Steel: Cheap Play On Steel Bull Run, Jefferies Upgrades


By Shuli Ren

Angang Steel (347.Hong Kong) jumped 3.8% in Hong Kong as China’s steel futures gained another 2.8% to a fresh 10-week high.

The Chinese government has ordered Tangshan’s steel mills, which constitute about 10% of China’s total steel capacity, to shut down production this month.

China’s steel mills’ profit profile is looking a lot better. According to China Iron and Steel Association, its members’ total profits improved from 8 billion yuan in net loss in March to roughly breakeven in April and further improved to 8 billion yuan in net profit in May.

Although the steel mills may have fallen back to losses in June, the steel price rally in July could bring them back into profitability again.

Angang Steel, China’s second largest steel manufacturing company, issued a positive profit warning last week, expecting its first-half profit to reach 300 million yuan, almost doubling from 155 million yuan in the same period a year ago.

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... -upgrades/
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Re: Angang Steel 347

Postby winston » Wed Jun 20, 2018 10:41 pm

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Angang Steel - H Share 鞍鋼股份-H股 (347 HK)

Industry fundamental has been improving with steel inventory at traders dropping for 13 straight weeks, partially offsetting concerns on demand weakness.

Angang's 1Q18 earnings remained resilient under the retreatment pressure of steel price, thanks to its low-inventory policy for both raw materials and steel products.

The company is positive on demand outlook for 2Q18.

Net debt-to-equity ratio fell to 34.8% (2016: 50%) due to a stronger cash position from operating cash flow and a decrease in short-term debt.

The stock is trading at undemanding 0.9x 2018F P/B. We maintain BUY with target price of HK$9.92.

http://www.ansteel.com.cn/

Source: UOBKH
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Re: Angang Steel 347

Postby winston » Thu Jul 19, 2018 10:13 am

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Angang Steel - H share 鞍鋼股份-H股 (347 HK)

Industry fundamental has been improving with steel inventory at traders dropping for 13 straight weeks, partially offsetting concerns on demand weakness.

Angang's 1Q18 earnings remained resilient under the retreatment pressure of steel price, thanks to its low-inventory policy for both raw materials and steel products.

The company is positive on demand outlook for 2Q18.

Net debt-to-equity ratio fell to 34.8% (2016: 50%) due to a stronger cash position from operating cash flow and a decrease in short-term debt.

Angang’s positive profit alert indicated an estimated net profit will nearly double to RMB3.492 billion for the 1H18.

The stock is trading at undemanding 0.81x 2018F P/B. We maintain BUY with target price of HK$8.74.

http://www.ansteel.com.cn/

Source: UOBKH
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Re: Angang Steel 347

Postby winston » Wed Jan 23, 2019 9:42 am

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<Positive Profit Alert>ANGANG STEEL Estimates 2018 Net Profit to Jump About 17.5% to RMB7.8B

ANGANG STEEL (00347.HK) issued a positive profit alert, expecting to record an increase in the net profit by about 17.51% to about RMB7.8 billion for the year ended 31 December 2018 in comparison with the corresponding period of 2017.

Basic earnings per share was expected to be about RMB1.078.

Source: AAStocks Financial News
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Re: Angang Steel 347

Postby winston » Fri Apr 12, 2019 7:22 am

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Angang Steel warns of plunge in quarterly net

Angang Steel Company (0347) said net profit for the three months ended March 31, will drop to 417 million yuan from 1.9 billion yuan in the year before period.

This is mainly because prices of steel products are much lower than the same period of last year, the company says.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... 0411&sid=2
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