Metallurgical Corp Faces Contract Value Decline

Metallurgical Corporation of China Ltd. Class H (HK:1618) has released an update.

Metallurgical Corporation of China Ltd. reports a 6.1% decline in the aggregate value of newly-signed contracts for the first half of 2024, with a sharper 8.9% drop in the second quarter alone. The company’s total new contracts are valued at RMB 677.80 billion, with different business segments experiencing various changes, including a notable 24.9% growth in industrial manufacturing and other works. These figures are preliminary and intended for reference, with no major projects stalled as of June 30, 2024.

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