Shares of MAANSHAN IRON (HKEX: 00323) have declined by more than 3%. At the time of writing, the stock is down 3.64% to HK$1.59, with a turnover of HK$4.557 million.

The movement follows a company announcement on July 14th. MAANSHAN IRON anticipates a net loss attributable to shareholders of approximately RMB 72 million for the first half of 2026. This represents a slight reduction in loss compared to the same period last year, narrowing by about RMB 3 million.

However, the company forecasts a significantly larger net loss excluding non-recurring gains and losses. This core net loss is expected to be around RMB 226 million, marking an increase in loss of approximately RMB 118 million year-on-year.

The announcement noted that the company's key subsidiaries are performing well. Its controlling subsidiary, Maanshan Iron & Steel Co., Ltd., is projected to achieve a net profit of about RMB 103 million. Another subsidiary, Anhui Changjiang Iron & Steel Co., Ltd., is expected to report a net profit of roughly RMB 151 million, both showing growth compared to the previous year.

Despite this, the group's overall first-half performance was dragged into a loss. This was primarily due to an investment loss recognized under the equity method. The loss stemmed from the bankruptcy liquidation proceedings of Xinyang Steel Jin Gang Energy Co., Ltd., an affiliate of Henan Jinma Energy Co., Ltd., in which MAANSHAN IRON holds a stake.