GLONGHUI, September 4 | Goldman Sachs published a report saying that Maanshan Steel Co., Ltd. lost 2,225 million yuan in the first half of the year, falling short of market and industry expectations, mainly due to weak unit profit of steel products. The bank lowered the target price of the company's H shares by 8%, from HK$1.2 to HK$1.1, maintaining its “sell-sell” rating. Meanwhile, Goldman Sachs adjusted the company's loss forecast for 2023 from 2.84 billion yuan to 4.61 billion yuan, while the 2024 loss forecast was narrowed from 894 million yuan to 883 million yuan to reflect the improving profit margin prospects for flat steel products, continued weak profit margins for structural steel, and a lower base for the first half of this year.
大行评级｜高盛：下调马鞍山钢铁H股目标价至1.1港元 维持“沽售”评级
Bank Rating｜Goldman Sachs: Lowering the target price of Ma On Shan Steel H shares to HK$1.1 to maintain the “sell and sell” rating
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