Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Angang Steel Co ( (HK:0347) ) has shared an update.
Angang Steel Company Limited has approved changes to its accounting policies following new guidance from China’s Ministry of Finance on the treatment of standard warehouse receipt transactions. The board resolved on 30 March 2026 to adopt the updated rules, which affect how the group classifies and recognizes income from frequent purchase and sale of warehouse receipts on futures trading venues.
Under the new policy, such warehouse receipt contracts will be treated as financial instruments rather than normal commodity sales, with profits from short-term trading recognized as investment income instead of sales revenue. Standard warehouse receipts that remain unsold at the end of a reporting period will be recorded as other current assets, and the group has applied these rules with effect from 1 January 2025, potentially altering the presentation of revenue and earnings from its futures-related activities.
The most recent analyst rating on (HK:0347) stock is a Sell with a HK$2.00 price target. To see the full list of analyst forecasts on Angang Steel Co stock, see the HK:0347 Stock Forecast page.
More about Angang Steel Co
Angang Steel Company Limited is a Chinese steel producer listed in Hong Kong, operating through a group structure with multiple subsidiaries. The company is part of the broader steel and commodities value chain and is subject to mainland Chinese accounting and regulatory standards that govern its financial reporting and disclosure obligations.
YTD Price Performance: -19.58%
Average Trading Volume: 16,611,962
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$23.47B
For a thorough assessment of 0347 stock, go to TipRanks’ Stock Analysis page.