Maanshan Iron & Steel Co Ltd Class H (HK:0323)
:0323
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Maanshan Iron & Steel Co
(0323)
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Rating:48Neutral
Price Target:
HK$2.50
â–¼(-10.39% Downside)
Action:ReiteratedDate:04/26/26
The score is held back mainly by still-weak profitability (near break-even earnings, sub-1% EBIT margin) and elevated leverage in a cyclical steel environment, despite a meaningful improvement in cash generation. Technically, momentum is neutral-to-soft (below short-term moving averages, slightly negative MACD), and valuation is less compelling due to a negative P/E with no dividend yield data.
Positive Factors
Improved cash generation
Sustained positive operating and free cash flow increases financial flexibility to fund maintenance and selective capex, service debt, and build cushions through cycles. Stronger cash generation materially reduces refinancing risk and supports longer-term operational stability in a cyclical steel industry.
Negative Factors
Elevated leverage
Debt roughly equaling equity limits balance-sheet flexibility in a capital-intensive, cyclical sector. Elevated leverage raises interest and refinancing sensitivity, constraining ability to invest in upgrades or withstand a prolonged steel-price downturn, and increases downside risk to credit metrics.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
Sustained positive operating and free cash flow increases financial flexibility to fund maintenance and selective capex, service debt, and build cushions through cycles. Stronger cash generation materially reduces refinancing risk and supports longer-term operational stability in a cyclical steel industry.
Read all positive factors
Maanshan Iron & Steel Co (0323) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$31.48B
Dividend YieldN/A
Average Volume (3M)19.23M
Price to Earnings (P/E)101.2
Beta (1Y)0.97
Revenue Growth-4.43%
EPS Growth99.48%
CountryHK
Employees16,631
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)0.01
Shares Outstanding1,732,930,000
10 Day Avg. Volume29,569,640
30 Day Avg. Volume19,232,200
Financial Highlights & Ratios
PEG Ratio0.90
Price to Book (P/B)0.72
Price to Sales (P/S)0.22
P/FCF Ratio7.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$2.55Price Target Upside-8.60% Downside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.09
Revenue Forecast (FY)HK$81.17B
Maanshan Iron & Steel Co Business Overview & Revenue Model
Company Description
Maanshan Iron & Steel Company Limited, together with its subsidiaries, manufactures and sells iron and steel products, and related by-products in Mainland China, Hong Kong, and internationally. It offers steel plates, including hot and cold-rolled...
How the Company Makes Money
Maanshan Iron & Steel primarily makes money by selling steel products to customers, with revenue recognized from the shipment/delivery of these products under customer contracts. Key revenue streams are product sales across different steel categor...
Maanshan Iron & Steel Co Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
49
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 75.36B | 77.52B | 81.82B | 98.94B | 102.15B | 113.85B |
| Gross Profit | 4.07B | 4.12B | -774.78M | 557.58M | 3.31B | 14.92B |
| EBITDA | 1.57B | 4.67B | 275.82M | 2.72B | 3.19B | 10.90B |
| Net Income | -18.48M | -203.40M | -4.66B | -1.33B | -819.85M | 5.33B |
Balance Sheet | ||||||
| Total Assets | 81.25B | 81.89B | 78.96B | 84.55B | 96.89B | 91.21B |
| Cash, Cash Equivalents and Short-Term Investments | 12.11B | 11.77B | 6.43B | 5.57B | 7.16B | 12.40B |
| Total Debt | 27.02B | 26.98B | 17.17B | 16.59B | 20.21B | 17.26B |
| Total Liabilities | 45.04B | 44.83B | 51.64B | 52.27B | 63.56B | 53.80B |
| Stockholders Equity | 23.99B | 24.04B | 23.26B | 27.77B | 29.19B | 32.75B |
Cash Flow | ||||||
| Free Cash Flow | 3.45B | 2.18B | -721.51M | -4.41B | -1.70B | 9.19B |
| Operating Cash Flow | 5.34B | 4.12B | 960.87M | 1.99B | 6.64B | 16.77B |
| Investing Cash Flow | -2.09B | 2.24B | -2.79B | -560.87M | -7.10B | -10.72B |
| Financing Cash Flow | -2.63B | -967.35M | 1.09B | -1.36B | 516.57M | -4.90B |
Maanshan Iron & Steel Co Technical Analysis
Positive
2.79
Price Trends
2.69
Positive
2.60
Positive
2.51
Positive
Market Momentum
<0.01
Negative
54.75
Neutral
63.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0323, the sentiment is Positive. The current price of 2.79 is above the 20-day moving average (MA) of 2.66, above the 50-day MA of 2.69, and above the 200-day MA of 2.51, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 54.75 is Neutral, neither overbought nor oversold. The STOCH value of 63.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0323.
Maanshan Iron & Steel Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$629.01M | 4.32 | 11.57% | 7.84% | -13.96% | -1.91% | |
70 Outperform | HK$308.40M | 0.90 | 16.63% | ― | -20.11% | 15.44% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
48 Neutral | HK$31.48B | 101.23 | -0.88% | ― | -4.43% | 99.48% | |
48 Neutral | HK$1.40B | 16.98 | 1.06% | 2.77% | 1.14% | 26.93% | |
44 Neutral | HK$22.92B | -3.91 | -8.87% | ― | -8.14% | 42.58% | |
44 Neutral | HK$13.93B | -3.42 | -17.20% | ― | -11.96% | 13.79% |
* Basic Materials Sector Average
HK:0323
Maanshan Iron & Steel Co
2.58
0.95
58.28%
HK:0347
Angang Steel Co
1.46
-0.05
-3.31%
HK:0103
Shougang Concord Century Holding Ltd.
2.60
0.62
31.11%
HK:1053
Chongqing Iron & Steel Co., Ltd. Class H
1.09
0.29
36.25%
HK:1553
Maike Tube Industry Holdings Limited
1.45
0.25
20.83%
HK:1938
Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd.
0.31
0.10
52.50%
Maanshan Iron & Steel Co Corporate Events
Maanshan Iron & Steel Launches 2026 Plan to Lift Efficiency and Returns
Apr 24, 2026
Maanshan Iron Steel has unveiled its 2026 “Quality Improvement, Efficiency Enhancement and Return Maximisation” action plan, aligning with Chinese regulatory directives to bolster listed company quality and capital market development....
Maanshan Iron & Steel Returns to Profit in Q1 2026 Despite Revenue Decline
Apr 24, 2026
Maanshan Iron Steel Company Limited reported first-quarter 2026 revenue of RMB 17.72 billion, down 8.79% year on year, but returned to profitability with total profit of RMB 119.97 million and net profit attributable to shareholders of RMB 42.37 ...
Maanshan Iron & Steel Board Backs Q1 Results, Diversity Policy and 2026 Pay Plans
Apr 24, 2026
Maanshan Iron Steel’s board convened its 51st meeting of the tenth session on 24 April 2026, with all six eligible directors present and the chairman, Jiang Yuxiang, presiding in accordance with legal and constitutional requirements. The bo...
Maanshan Iron & Steel Adopts Formal Board Diversity Policy to Bolster Governance
Apr 24, 2026
Maanshan Iron Steel has adopted a formal board diversity policy aimed at enhancing its corporate governance by ensuring a balanced mix of skills, experience, and backgrounds among directors. The company positions board diversity as a key driver o...
Maanshan Iron & Steel Reports Key First-Quarter 2026 Operating Data
Apr 24, 2026
Maanshan Iron Steel Company Limited has disclosed its key operating data for the first quarter of 2026 in line with regulatory requirements in Hong Kong and Shanghai. The company reported production and sales volumes for its main product categori...
Maanshan Iron & Steel Sets April Board Meeting to Review Q1 2026 Results
Apr 1, 2026
Maanshan Iron Steel Company Limited has scheduled a board meeting for 24 April 2026 in Maanshan City, Anhui Province, to review and approve the group’s unaudited first-quarter results for the period from 1 January to 31 March 2026, prepared...
Maanshan Iron & Steel Board Backs 2025 Results, Impairment Adjustments and Dividend Plan
Mar 25, 2026
Maanshan Iron Steel’s board held its 50th meeting of the tenth session on 25 March 2026, with all six directors present and all procedural requirements met, to review the company’s 2025 performance and key financial items. Directors u...
Maanshan Iron & Steel Moves to Reappoint Deloitte China as Auditor
Mar 25, 2026
Maanshan Iron Steel Company Limited has proposed the reappointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte China) as its accounting firm, in line with Hong Kong listing rules. Deloitte China, a long-established prof...
Maanshan Iron & Steel Posts 2025 Operating Data for Core Steel Products
Mar 25, 2026
Maanshan Iron Steel has disclosed its key operating data for 2025, reporting production and sales volumes across long products, steel plates, wheels and axles, and semi-finished commodity products. The figures show closely aligned production and ...
Maanshan Iron & Steel Withholds 2025 Dividend After Consolidated Loss
Mar 25, 2026
Maanshan Iron Steel has proposed no profit distribution and no transfer of capital reserves to share capital for 2025, despite reporting net profit of RMB1,082 million at the parent level driven mainly by a one-off investment gain from a partial ...
Maanshan Iron & Steel Posts 2025 Results and Withholds Dividend Payout
Mar 25, 2026
Maanshan Iron Steel reported its 2025 annual results, confirming that all directors attended the board meeting and that its financial statements received a standard unqualified audit opinion from Deloitte Touche Tohmatsu, underscoring compliance ...
Maanshan Iron & Steel Sets Online Briefing for 2025 Annual Results
Mar 19, 2026
Maanshan Iron Steel Company Limited will publish its 2025 annual report on the Shanghai Stock Exchange website on 25 March 2026, providing investors with detailed information on its yearly performance and operating conditions. To deepen investor ...
Maanshan Iron & Steel Sets Board Meeting to Approve 2025 Audited Results
Mar 4, 2026
Maanshan Iron Steel Company Limited has scheduled a board meeting for 25 March 2026 to review and approve the audited annual results for 2025 for the company and its subsidiaries, prepared under PRC Accounting Standards. The announcement signals ...
Maanshan Iron & Steel Expects Sharply Narrowed 2025 Loss Amid Tough Steel Market
Jan 29, 2026
Maanshan Iron Steel has issued an earnings alert for 2025, forecasting total profit of RMB120 million to RMB180 million but a net loss attributable to shareholders of between RMB250 million and RMB190 million, a substantial narrowing from the RMB...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.