Maanshan Iron & Steel Co. Ltd. provided unaudited earnings guidance for the first nine months of 2016. For the period, based on the preliminary estimates by the finance department, the operating results for the first nine months of 2016 are expected to record a turnaround from the corresponding period of the previous year. Net profit attributable to equity shareholders of the company is estimated to be approximately RMB 757 million. In the period from January to September 2016, net profit attributable to equity shareholders of the company is expected to turn from loss to profit compared to the corresponding period of the previous year, mainly because the company endeavored to actively seek and seize opportunities to promote sales and optimize product mix amid the competitive steel market, and built effective supply chain system, which promoted purchase costs lowering, and the company spared no efforts to enhance the product profitability by strengthening the exploration in steel market and raw material market. Moreover, based on the principle of performance excellence management, the company vigorously adjusted its product structure, looked into the potential to increase cost efficiency, enhanced the level of lean operation, the company achieved significant improvement in operation efficiency comparing to the corresponding period of the previous year against the background of cutting capacity.