New Risk • May 07
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 4.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 21
First quarter 2026 earnings released: CN¥0.23 loss per share (vs CN¥0.004 profit in 1Q 2025) First quarter 2026 results: CN¥0.23 loss per share (down from CN¥0.004 profit in 1Q 2025). Revenue: CN¥7.36b (down 16% from 1Q 2025). Net loss: CN¥730.6m (down CN¥743.0m from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year. Announcement • Apr 21
Xinyu Iron & Steel Co., Ltd, Annual General Meeting, May 15, 2026 Xinyu Iron & Steel Co., Ltd, Annual General Meeting, May 15, 2026, at 14:30 China Standard Time. Location: The Company's Meeting Room, Xinyu, Jiangxi China