Angang Steel Company Limited provided group earnings guidance for the third quarter and nine months ended 30 September 2019. The company is expecting to record a decrease in the net profit attributable to shareholders of the company for the nine months ended 30 September 2019 in comparison with the corresponding period of 2018. For the third quarter, net profit attributable to shareholders of the company expected to be approximately RMB 297 million. Basic earnings per share expected to be approximately RMB 0.032. For the nine months period, the company expects net profit attributable to shareholders of the company expected to be approximately RMB 1,722 million. Basic earnings per share expected to be approximately RMB 0.183. For the nine months ended 30 September 2019, the net profit attributable to shareholders of the company decreased substantially as compared with the corresponding period of last year, which was mainly due to following factors: firstly, the steel price plunged as a result of the sluggish domestic automobile and household appliance industries and other factors; secondly, the dam-failure accident of the tailings dam of the Vale of Brazil and strong demand of domestic steel and iron enterprises for iron ore drove up the price of raw materials, which greatly narrowed the margins of steel and iron enterprises.