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Which ones should you read when faced with thousands of announcements from listed companies every day? What are the key points of announcements of major events that are often dozens or hundreds of pages long? Are there a lot of professional terms in the announcements that you don't know whether to consider as good news or bad news? Please read the "Quick Reading of Announcements" column of the Cailianshe Company News Department. Our reporters stationed across the country will provide you with accurate, fast and professional interpretations on the evening of the announcement.

Cailianshe News, July 17 (Reporter Zhang Liangde)The interim report once again predicted a huge loss, and the share price of Chongqing Steel (601005.SH) once again slipped to near the "red line" of delisting at the face value of 1 yuan. The clarion call for "protecting the shell" sounded again, and the company's actual controller, Baowu Group, stepped in to provide reinforcements.

This evening, Chongqing Steel announced that it had received a "Notice on the Plan to Increase Holdings of Chongqing Steel A-Shares" from Huabao Investment Co., Ltd. (hereinafter referred to as "Huabao Investment"), a wholly-owned subsidiary of the company's actual controller, Baowu Group. Huabao Investment plans to invest 150 million to 300 million yuan to increase its holdings of Chongqing Steel shares in the secondary market, and the upper limit of the increase price will not exceed 2.00 yuan per share.

The increase in Huabao Investment's holdings in the company's shares also represents the second par value defense battle of Chongqing Steel this year. Chongqing Steel previously announced that the company will repurchase shares within 6 months from June 5, with the repurchase amount not less than 50 million yuan and not more than 100 million yuan.

As of June 27, the company had repurchased 66.8385 million shares, accounting for 0.749% of the company's total share capital, and the total amount paid was 69.7525 million yuan. On July 2, the company issued another announcement saying that in order to boost investor confidence, the board of directors passed a proposal to change the purpose of repurchasing shares to "cancellation to reduce registered capital."

However, the above series of measures did not bring the company's stock price to a safe zone. Since the company's stock price hit 1 yuan on June 24, the stock price has closed below 1.1 yuan for 18 trading days.

The news of the company's expected loss in the interim report has continued to increase the pressure on the company's stock price. On the evening of July 10, Chongqing Iron and Steel released its performance forecast for the first half of 2024, and it is expected to achieve a net loss of about 690 million yuan in the first half of the year, an increase of about 255 million yuan compared with the same period last year.

Due to the continued weak demand in the steel industry in the past two or three years, the fierce competition environment in the industry, the fact that listed companies in the steel industry generally have high share capital and low net assets per share, and investors' concerns about the delisting of loss-making stocks in the industry at par value, a number of listed steel companies have launched a battle to defend their 1 yuan par value in recent years.

On June 13, Shandong Iron and Steel (600022.SH) received a notice from Shandong Iron and Steel Group that the group will increase its holdings of the company's shares through centralized bidding transactions, with the upper limit of the increase being 1 billion yuan and the lower limit being 500 million yuan. On June 25, Anyang Iron and Steel Group Co., Ltd. announced a plan to increase its holdings in Anyang Iron and Steel (600569.SH) in the next 12 months, with the increase amount not less than 50 million yuan and not more than 100 million yuan. On the same day, Lingyuan Iron and Steel Group Co., Ltd. also announced that it would increase its holdings in Linggang Co., Ltd. (600231.SH) in the next 12 months at an appropriate time, with the increase amount ranging from 40 million yuan to 80 million yuan.

(Cailian News reporter Zhang Liangde)

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