# EDGAR Filing Document

**Accession Number:** 0000887153
**File Stem:** 0000000000-25-008766
**Filing Date:** 2025-8
**Character Count:** 11244
**Document Hash:** 6022878b2b5b1d62ea209d3df6c525da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-008766.hdr.sgml**: 20260326

**ACCESSION NUMBER**: 0000000000-25-008766

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250819

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GRUPO SIMEC, S.A.B. de C.V.
- **CENTRAL INDEX KEY:** 0000887153
- **STANDARD INDUSTRIAL CLASSIFICATION:** STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 001-11176

**BUSINESS ADDRESS:**
- **STREET 1:** CALZADA LAZARO CARDENAS 601
- **CITY:** 44910 GUADALAJARA JA
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 01152 333 669 5742

**MAIL ADDRESS:**
- **STREET 1:** CALZADA LAZARO CARDENAS
- **CITY:** GUADALAJARA JALISCO
- **STATE:** NY
- **ZIP:** 999999999

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GROUP SIMEC SA DE CV
- **DATE OF NAME CHANGE:** 19950505
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001213900-25-044060

## Text-Extract

```

                                                             August 19, 2025

Mario Moreno Cortez
Finance Coordinator
GRUPO SIMEC, S.A.B. de C.V.
Calzada L  zaro C  rdenas 601
Colonia La Nogalera
Guadalajara , Jalisco
M  xico 44440

       Re: GRUPO SIMEC, S.A.B. de C.V.
           Form 20-F for Fiscal Year Ended December 31, 2024
           Filed May 15, 2025
           File No. 001-11176
Dear Mario Moreno Cortez:

       We have limited our review of your filing to the financial statements
and related
disclosures and have the following comments.

       Please respond to this letter within ten business days by providing the
requested
information or advise us as soon as possible when you will respond. If you do
not believe a
comment applies to your facts and circumstances, please tell us why in your
response.

       After reviewing your response to this letter, we may have additional
comments.

Form 20-F for Fiscal Year Ended December 31, 2024
Item 5. Operating and Financial Review and Prospects, page 41

1.     Please revise the financial and other data presented in tabular formats
in future filings
       to read consistently in the same chronological order throughout your
filing. Similarly,
       please also present numerical data in narrative disclosures consistently
ordered
       throughout your filing. In this regard, we note certain financial and
other data in Item
       5 is presented with the oldest period first and the consolidated
financial statements are
       presented with the most recent period first. Refer to SAB Topic 11:E.
2.     Please revise future filings to ensure you provide updated and accurate
disclosures
       that are consistent with information in your annual report filed in
Mexico. We note,
       for example, that energy cost disclosures on page 44 indicate an unusual
decrease in
       the most recent period and the assumptions in the valuation models of
the San Luis
       reporting unit on page 60 seem to pertain to the prior year. Both
examples appear to
 August 19, 2025
Page 2

      be inconsistent with similar disclosures in your annual report filed in
Mexico. Please
      be aware that these examples are not an exhaustive list, and you should
review all
      your disclosures to ensure they are updated and accurate and align with
other public
      filings made by the company.

3.    We noted numerous inconsistencies and misstatements throughout your
filing, for
      example:
          certain Sales Volume, Price and Cost Data 2024 related to the
Republic facilities
          for 2024 on page 42 do not appear to be accurate;
          the tabular presentation of results by segment for 2024 on page 45
does not depict
          total gross profit correctly;
          discussions of cost of sales on pages 47 and 50 imply costs at the
Republic
          facilities increased when they actually decreased;
          a discussion that other expense was recorded in 2024 and other income
was
          recorded in 2023 does not reconcile with the financial statements;
          discussions of a foreign exchange provision in 2024, and a foreign
exchange loss
          in 2024, do not reconcile with the foreign exchange gain in 2024 in
the financial
          statements;
          discussions that state amounts increased when they actually decreased
and/or that
          amounts decreased when they actually increased; and
          discussions of consolidated information and segment information for
certain
          periods included more than once and/or included out of order.
      Please be aware these examples are not an exhaustive list, and you should
review all
      disclosures in future filings to ensure they are accurate.

4.    Please more fully explain to us and revise future filings to address the
following
      items.
          Explain the specific reasons for the declines in product volumes
during the
          periods presented and address the factors impacting this trend.
          Explain how the exchange gains and losses are determined for each
period,
          including the assets, liabilities and/or transactions they relate to,
and explain the
          reasons for changes in such amounts during the periods presented.
          Explain the reasons for the decrease in the effective income tax rate
for FY 24
          and clarify whether you anticipate the decrease is indicative of a
trend in future
          effective income tax rates.
      Refer to Item 5 of Form 20-F.
5.    We have the following comments regarding the cessation of operations at
Republic
      Steel and the related disclosures beginning on page 59. Please tell us
and revise future
      filings to clarify the following items.
          Explain your current intentions regarding Republic Steel and its
remaining assets.
          Explain how you are accounting for Republic Steel's assets since you
ceased
           operations. Refer to IFRS 5 and IAS 16.
 August 19, 2025
Page 3

             In the third paragraph on page 59, you quantify assets related to
the Lorain, Ohio
           facility for the years 2022, 2021 and 2020. Quantify amounts related
to the current
           periods presented.
             In the fourth paragraph on page 59, we note you "performed an
analysis of the fair
           value of the four facilities (Canton, Solon, Massillon and
Lackawanna) and
           determined net book value exceeded fair value by approximately U.S.
$130.7
           million (Ps. 2,701 million) and as such recognized an asset
impairment of this
           amount during the year ended December 31, 2015". This disclosure
appears to
           relate to the Lorain facility impairment analysis described in the
preceding
           paragraph. Tell us and revise future disclosures to clearly indicate
the results of
           the impairment analyses performed on your U.S. facilities in 2023
and indicate
           whether you performed impairment analyses on any or all of Republic
Steel's
           assets in 2024. If so, explain the results. If not, explain why not.
             You indicate the existing inventory balance related to Republic
Steel's facilities is
           Ps. 5,796,451 (Ps. 4,496,211 in short-term and Ps. 1,300,240 in
long-term) and
           that you have physical coke inventory of Ps. 1,414,703 at December
31, 2024 at
           these facilities. Explain why the physical coke inventory balance is
greater than
           the long-term inventory balance. Also, provide us an analysis of
Republic Steel's
           inventory balance by type as of December 31, 2024, explain how you
determined
           carrying value was less than NRV as of December 31, 2024, and
explain why this
           inventory remains unsold.
             We noted numerous references to valuations preformed by "an expert
in the
           field". Explain your consideration of identifying the expert and
filing their
           valuation report as an exhibit given your apparent reliance on it.
Item 15. Controls and Procedures
A. Disclosure Controls and Procedures, page 92

6.     We note your disclosure that your CEO and CFO, "...after evaluating the
effectiveness
       of our disclosure controls and procedures (as defined in Exchange Act
Rule 13a-
       15(e)) as of the end of the period covered by this annual report, have
concluded that,
       as of such date, our internal control over financial reporting was
effective   . Please be
       advised, as required by Item 15 of Form 20-F, management is required to
provide
       separate conclusions on the effectiveness of Disclosure Controls and
Procedures and
       the effectiveness of Internal Control over Financial Reporting as of
December 31,
       2024. Please amend your Form 20-F to fully comply with the requirements
of Item 15
       of Form 20-F.

Item 18. Consolidated Financial Statements
Notes to the Consolidated Financial Statements
22. Other income (expenses), net, page F-35

7.     Please more fully explain to us and revise future filings to address the
following
       items.
           The introduction to your tabular presentation indicates expenses are
shown in
           parentheses; however, the table presents income amounts in
parentheses.
 August 19, 2025
Page 4

           Additionally, it appears the net income totals for FY 24 and FY 22
should be
           presented without parentheses to be consistent with amounts
presented in your
           consolidated statements of income. Ensure you provide accurate and
consistent
           financial information in future filings.
             Explain the nature of the amounts identified as Republic and GV
"account
           debugging". In the event account debugging represents revisions or
error
           corrections, explain how you considered the guidance in IAS 8 and if
and how
           you considered the items in your control assessments.
24. Financial information by segments, page F-36

8.     Please revise future filings to provide all the disclosures required by
paragraphs 28,
       32, and 33 of IFRS 8 or explain how you determined they are not
required. In this
       regard, although we note your reportable segments are based on
geography, it appears
       you have not disclosed revenue sold domestically and to each material
foreign
       country. It also appears you have not disclosed goodwill and intangible
assets by
       reportable segment.
        In closing, we remind you that the company and its management are
responsible for
the accuracy and adequacy of their disclosures, notwithstanding any review,
comments,
action or absence of action by the staff.

       Please contact Mindy Hooker at 202-551-3732 or Anne McConnell at
202-551-3709
with any questions.

                                                           Sincerely,

                                                           Division of
Corporation Finance
                                                           Office of
Manufacturing

```

### Attached PDF Documents

**Attachment 1:** `filename1`

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