Angang Steel Company Limited provided group earnings guidance for the third quarter and nine months ended 30 September 2018. For the nine months period, the company expects to record an increase in the net profit attributable to shareholders of the company for the nine months ended 30 September 2018 in comparison with the corresponding period of 2017. Total profit expected to be approximately RMB 8,624 million, approximately 123.54% increase as compared with the corresponding period of 2017. Net profit attributable to shareholders of the company expected to be approximately RMB 6,847 million, approximately 80.52% increase as compared with the corresponding period of 2017. Basic earnings per share expected to be approximately RMB 0.946. For the third quarter, the company’s total profit expected to be approximately RMB 3,185 million, approximately 83.68% increase as compared with the corresponding period of 2017. Net profit attributable to shareholders of the company expected to be approximately RMB 2,422 million, approximately 41.14% increase as compared with the corresponding period of 2017. Basic earnings per share expected to be approximately RMB 0.335. The estimated significant increase in the net profit attributable to shareholders of the Company for the first three quarters and the third quarter of 2018 as compared with the corresponding periods of 2017 is primarily due to the following reasons: firstly, the Company timely grasped favorable opportunities arising from the country's efforts on environmental protection and addressing overcapacity and a sustained booming steel market, optimized its business layout, focused on the development of its principal business and coordinated the development of the non-steel business, which enhanced its ability to generate revenue and create benefits comprehensively; secondly, the Company kept a close eye on the market changes and made further adjustment to its product mix; thirdly, the Company reduced processing costs by further promoting cost reduction in a systematic way; fourthly, the Company reduced various expenditures by strengthening budget control; fifthly, the Company reduced comprehensive procurement costs by means of timely purchases and the combination of futures and spot commodities; sixthly, an increase in the profit of the Company as compared with the corresponding periods of the previous year, which was due to the consolidation of the profit generated from Angang Group Chaoyang Iron & Steel Company Limited (‘Chaoyang Iron & Steel’) into that of the Company on the basis of merger of business under common control following the acquisition of Chaoyang Iron & Steel by the Company.