Chongqing Iron & Steel Company Limited provided earnings guidance for the year ended 31 December 2016. The company is expected to record loss in its annual operating results for 2016. Net loss attributable to shareholders of the Company will be approximately RMB 4,375 million. The net profit of the company in 2016 is expected to be negative, mainly due to its failure in realizing scale production and high fixed costs including depreciation and finance expenses.