Metallurgical Corporation of China Ltd. Class H (HK:1618)
:1618
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Metallurgical Corporation of China Ltd. Class H
(1618)
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Rating:57Neutral
Price Target:
HK$1.50
â–Ľ(-38.78% Downside)
Action:Reiterated
Date:05/01/26
The score is held back primarily by weakened financial performance (revenue decline and sharply compressed profitability) and bearish technicals (price below key moving averages and negative MACD). These are partially offset by attractive valuation metrics (low P/E and a ~3.9% dividend yield) and currently positive TTM cash flow.
Positive Factors
Manageable leverage
Debt-to-equity near 0.42 (improved from ~0.51–0.56) and steady equity growth lower refinancing and solvency risk for a project-heavy contractor. This durable capital structure supports bidding on large EPC projects, maintains financial flexibility and reduces interest burden over the next several quarters.
Negative Factors
Declining revenue trend
A sustained decline in revenue reduces scale and can erode pricing power in a competitive construction market. Lower top-line trends constrain margin recovery, limit backlog replenishment, and signal either weaker bidding success or softness in end markets, pressuring medium‑term earnings generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable leverage
Debt-to-equity near 0.42 (improved from ~0.51–0.56) and steady equity growth lower refinancing and solvency risk for a project-heavy contractor. This durable capital structure supports bidding on large EPC projects, maintains financial flexibility and reduces interest burden over the next several quarters.
Read all positive factors
Metallurgical Corporation of China Ltd. Class H (1618) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$62.97B
Dividend Yield3.21%
Average Volume (3M)49.24M
Price to Earnings (P/E)4.5
Beta (1Y)1.17
Revenue Growth-17.50%
EPS Growth-75.50%
CountryHK
Employees97,489
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.02
Shares Outstanding2,871,000,000
10 Day Avg. Volume95,052,304
30 Day Avg. Volume49,242,889
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)0.05
Price to Sales (P/S)0.02
P/FCF Ratio0.83
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.28
Revenue Forecast (FY)HK$416.64B
Metallurgical Corporation of China Ltd. Class H Business Overview & Revenue Model
Company Description
Metallurgical Corporation of China Ltd. Class H (1618) is a leading Chinese engineering and construction firm primarily engaged in the metallurgical industry, including the design, construction, and operation of metallurgical and mining projects. ...
How the Company Makes Money
MCC primarily generates revenue by contracting and delivering engineering and construction projects. Its core revenue model is project-based: it signs contracts with clients (often government entities, industrial companies, and property developers...
Metallurgical Corporation of China Ltd. Class H Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
62
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 425.28B | 455.38B | 552.02B | 633.87B | 592.67B | 500.57B |
| Gross Profit | 43.06B | 45.93B | 53.48B | 61.41B | 57.15B | 53.14B |
| EBITDA | 8.66B | 13.23B | 17.01B | 20.34B | 21.88B | 19.61B |
| Net Income | 1.35B | 1.32B | 6.75B | 8.67B | 10.28B | 11.61B |
Balance Sheet | ||||||
| Total Assets | 825.44B | 839.49B | 808.02B | 661.60B | 585.38B | 543.47B |
| Cash, Cash Equivalents and Short-Term Investments | 84.53B | 77.77B | 52.56B | 44.44B | 45.66B | 41.83B |
| Total Debt | 80.22B | 65.98B | 78.59B | 66.19B | 62.88B | 60.54B |
| Total Liabilities | 639.52B | 655.93B | 625.68B | 493.61B | 423.48B | 392.08B |
| Stockholders Equity | 157.28B | 155.76B | 153.04B | 145.48B | 121.11B | 107.49B |
Cash Flow | ||||||
| Free Cash Flow | 9.24B | 9.05B | 985.05M | 1.30B | 13.84B | 14.09B |
| Operating Cash Flow | 15.61B | 15.32B | 7.85B | 5.89B | 18.15B | 17.64B |
| Investing Cash Flow | 51.06B | 23.71B | -9.58B | -6.72B | -6.56B | -12.57B |
| Financing Cash Flow | -31.87B | -12.69B | 11.06B | 1.16B | -9.67B | -16.24B |
Metallurgical Corporation of China Ltd. Class H Technical Analysis
Negative
2.45
Price Trends
1.66
Negative
1.76
Negative
2.02
Negative
Market Momentum
-0.03
Positive
32.28
Neutral
10.26
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1618, the sentiment is Negative. The current price of 2.45 is above the 20-day moving average (MA) of 1.58, above the 50-day MA of 1.66, and above the 200-day MA of 2.02, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 32.28 is Neutral, neither overbought nor oversold. The STOCH value of 10.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1618.
Metallurgical Corporation of China Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$48.23B | 3.19 | 11.89% | 6.69% | -5.48% | -4.24% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | HK$25.40B | 18.56 | 5.62% | 5.31% | 9.27% | -27.28% | |
57 Neutral | HK$62.97B | 4.48 | 0.95% | 3.21% | -17.50% | -75.50% | |
57 Neutral | HK$87.59B | 8.64 | 4.96% | 3.90% | 5.40% | -33.06% | |
52 Neutral | HK$17.61B | 22.20 | 6.83% | ― | -3.56% | 49.92% |
* Industrials Sector Average
HK:1618
Metallurgical Corporation of China Ltd. Class H
1.52
0.04
2.77%
HK:3311
China State Construction International Holdings
9.16
-1.27
-12.13%
HK:3996
China Energy Engineering Corp. Ltd. Class H
1.31
0.33
33.27%
HK:2386
SINOPEC Engineering (Group) Co., Ltd. Class H
5.80
0.35
6.46%
HK:2068
China Aluminum International Engineering Corporation Limited Class H
2.36
0.46
24.21%
Metallurgical Corporation of China Ltd. Class H Corporate Events
MCC’s Q1 2026 New Contracts Fall Overall but Core and Overseas Business Grow
Apr 29, 2026
Metallurgical Corporation of China Ltd. reported major operating data for the first quarter of 2026, highlighting performance across its core, principal and featured business segments. The group remains active in metallurgy and mining-related cons...
Metallurgical Corp of China Announces Planned Exit of Independent Director
Apr 29, 2026
Metallurgical Corporation of China Ltd. announced that independent non-executive director Mr. Ng, Kar Ling Johnny has tendered his resignation after serving six consecutive years, in line with regulatory limits and the company’s articles. Hi...
Metallurgical Corporation of China Releases Unaudited Q1 2026 Report Under Hong Kong Disclosure Rules
Apr 29, 2026
Metallurgical Corporation of China Ltd. has released its unaudited first-quarter 2026 report, prepared under Chinese Accounting Standards for Business Enterprises and published in line with Hong Kong listing and securities regulations. The board a...
MCC Seeks New Mandate for RMB 500 Million H Share Buyback
Apr 29, 2026
Metallurgical Corporation of China Ltd. has proposed a new H share repurchase mandate as the existing authorization nears expiry, aiming to buy back up to 10% of its H shares in issue, capped at RMB 500 million, using its own funds. All repurchase...
Metallurgical Corporation of China Appoints New Hong Kong Process Agent
Apr 29, 2026
Metallurgical Corporation of China Ltd. has changed its authorized representative for accepting legal process and notices in Hong Kong, replacing Mr. Wang Qi with Mr. Yang Yonglin effective 29 April 2026. The new process agent will receive such do...
Metallurgical Corporation of China Calls May 2026 EGM to Elect New Executive Directors
Apr 23, 2026
Metallurgical Corporation of China Ltd. has called its second extraordinary general meeting of 2026 for 8 May in Beijing, inviting both A and H shareholders to participate, primarily to vote on changes to the composition of its board. Shareholders...
MCC Proposes New Executive Directors and Names New President
Apr 16, 2026
Metallurgical Corporation of China Ltd. has proposed appointing Li Zhongze and Chen Yang as executive directors of its third-session board, subject to approval at an upcoming extraordinary general meeting. The move would bring in Li, a veteran of ...
Metallurgical Corp of China Sets May 2026 EGM and Closes H Share Register
Apr 16, 2026
Metallurgical Corporation of China Ltd. has scheduled its 2026 second extraordinary general meeting for 8 May 2026 in Hong Kong, with H shareholders entitled to attend and vote based on the register as of 5 May 2026. The H share register will be c...
Metallurgical Corporation of China Schedules Board Meeting to Approve First-Quarter 2026 Results
Apr 16, 2026
Metallurgical Corporation of China Ltd. has announced that its board of directors will convene on 29 April 2026 to review and approve the publication of its first quarterly results for the three months ended 31 March 2026. The scheduled meeting si...
MCC Secures Over RMB200 Billion in New Contracts in First Quarter 2026
Apr 15, 2026
Metallurgical Corporation of China Ltd. reported that it signed RMB206.1 billion in new contracts between January and March 2026, including RMB13.19 billion from overseas projects. This underscores the company’s active presence in both domes...
Metallurgical Corp of China Profit Plunges in 2025 Amid Industry Headwinds
Mar 30, 2026
Metallurgical Corporation of China reported a sharp deterioration in 2025 results, with operating revenue falling 17.51% to RMB455.38 billion and net profit attributable to shareholders plunging 80.41% to RMB1.322 billion, while basic earnings per...
MCC Renews Connected Transactions Framework With Controlling Shareholder China Minmetals
Mar 30, 2026
Metallurgical Corporation of China has approved a new one-year framework agreement with its controlling shareholder China Minmetals, effective from 1 January 2027, to continue a broad range of transactions including materials purchases, engineerin...
MCC Sets Mutual Supply Deals With Connected Construction Subsidiaries
Mar 30, 2026
Metallurgical Corporation of China has approved new mutual supply agreements for project construction, technology and management services with three connected subsidiaries: MCC Eco-Environmental Protection, Nanjing MCC Real Estate and Qianhai MCC ...
Metallurgical Corp of China Revamps Joint Company Secretary Team
Mar 30, 2026
Metallurgical Corporation of China Ltd. has announced a change in its joint company secretary arrangements, with Ms. Ng Sau Mei resigning effective 30 March 2026 following the expiry of the contract with the existing company secretarial service pr...
Metallurgical Corporation of China Sets March Board Meeting on 2025 Results and Dividend
Mar 18, 2026
Metallurgical Corporation of China Ltd. has called a board meeting for 30 March 2026 to review and approve the annual results for the year ended 31 December 2025 for the company and its subsidiaries. The board will also consider the payment of a f...
Metallurgical Corp of China Secures RMB132.44 Billion in New Early-2026 Contracts
Mar 11, 2026
Metallurgical Corporation of China Ltd. reported that it signed RMB132.44 billion in new contracts between January and February 2026, including RMB4.49 billion from overseas projects. These figures underline the company’s active role in larg...
Metallurgical Corporation of China Secures RMB73.65 Billion in New January Contracts
Feb 12, 2026
Metallurgical Corporation of China Ltd. reported that newly signed contracts in January 2026 reached RMB73.65 billion, including RMB3.21 billion from overseas projects, underscoring continued demand for its engineering and construction services. K...
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.