Chongqing Iron & Steel Company Limited provided earnings guidance for the half year ended June 30, 2018. Based on the preliminary estimate by the finance department, it is expected that the net profit attributable to the shareholders of the Company would amount to RMB 760 million for the first half of 2018 as compared with a loss for the corresponding period of the previous year. Net profit attributable to the shareholders of the Company after deducting non-recurring gain or loss would amount to RMB 760 million. Earnings per share are expected to be RMB 0.09 per share. Major reasons for the estimated profit for the period are: Focusing on the policy of maintaining its production and sales at the fullest level, the Company has maintained stable and smooth production. As a result, the scale of production and sales achieved new high, which significantly improved its business performance. The Company actively responded to market changes, strengthened the analysis on product profitability and optimized product mix in a timely manner. By doing so, the average gross profit of products increased significantly. The Company remained committed to promote cost delicacy management. Starting with reducing system cost and technical cost, the Company has formulated and implemented cost reduction plan, hence the cost level has dropped significantly.