Maanshan Iron & Steel Co. Ltd. provided earnings guidance for the period from January 1, 2012 to December 31, 2012. Based on the preliminary estimates by the finance department of the company, the operating results for the year of 2012 are expected to record a loss.

Net loss attributable to equity shareholders of the company is estimated to be RMB 3.72 billion to RMB 3.95 billion. Basic loss per share is estimated to be RMB 0.48 to RMB 0.51. Net profit attributable to equity shareholders of the company for the previous year was RMB 69.578 million and basic earnings per share for the previous year was RMB 0.009.

Impacted by the debt crisis in the euro zone and the United States as well as the domestic macroeconomic policies in the year of 2012, demand for the iron and steel was sluggish. Prices of steel products dropped significantly and the falling rate was higher than that of raw materials and fuels. The measures taken to enhance cost reduction and improve efficiency failed to compensate the negative consequences from the market, which led to the substantial loss of the company's operating results for the year of 2012.