China’s Beijing Shougang faces a difficult start in 2026, with first-quarter net profit declining by 47.17% year on year to CNY 174.07 million and revenue dropping by 5.65% year on year to CNY 25.08 billion.

This contraction contrasts with the strong year of 2025, where net income soared by 107.68% to CNY 996 million, even as revenue slipped by 5.11% to CNY 102.92 billion.

Growth in 2025 relied on cost control and an expanded mix of high-value products such as automotive and electrical steel. The company targets 23.28 million tons of finished steel production and CNY 106.48 billion in revenue for 2026.