According to the report released by JPMorgan, due to weaker-than-expected policy impact, it downgraded the rating of Angang Steel (00347) from "Neutral" to "Shareholding" and slashed the target price from HKD 1.9 to HKD 1.

The bank lowered its profit forecast for the company for the next two years to a loss of RMB 4.1 billion each and RMB 2.5 billion respectively, and expects the company's losses to extend to the 2026 fiscal year due to weak domestic demand. It is expected that under the disappointing impact of policies, and as the premium of AH shares widens, the company's shares will be further sold off.

The report lowered the company's profit forecast for the next two years to losses of RMB 4.1 billion and RMB 2.5 billion respectively, and predicted that the company's losses would continue until the 2026 fiscal year due to weak domestic demand. It is expected that under the continuous disappointment of policy impact, with the widening premium gap of AH stocks, the company's shares will continue to be sold off.