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    Steel
Maanshan Iron & Steel Company Limited

Maanshan Iron & Steel Company Limited

0323.HK
Maanshan Iron & Steel Company LimitedHK flagHong Kong Stock Exchange
1.61
HKD
+0.01
- -
20.76BMarket Cap
Maanshan Iron & Steel Company Limited
0323.HK
(Hong Kong Stock Exchange)

Recent

price

1.61

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
8.43
11.6
9.66
9.58
8.13
5.86
6.27
9.51
10.64
10.16
10.6
14.78
13.7
12.67
10.71
11.14
13.29
Revenue per Share
0.14
0.01
-0.5
0.02
0.03
-0.62
0.16
0.54
0.77
0.15
0.26
0.69
-0.11
-0.17
-0.61
-0.03
-0.04
Basic EPS, GAAP
-0.22
-0.41
0.08
-0.06
0.04
0.4
0.32
0.4
1.47
0.39
-0.55
1.19
-0.23
-0.56
-0.09
0.31
-0.42
Free Cash Flow per Basic Share
0.07
0.26
0.21
0.17
0.18
0.14
0.13
0.12
0.33
0.42
0.17
0.21
0.42
0.09
0.08
0.06
0.07
Dividend per Share
2.04
2.03
1.42
1.42
1.52
0.82
0.98
1.47
1.96
1.77
1.96
2.51
2.13
1.87
1.31
1.4
2.3
Book Value per Share
3.39
3.67
3.06
3.09
3.27
2.45
2.63
3.29
3.91
3.75
3.99
4.63
4.22
3.91
3.34
4.95
8.16
Tangible Book Value per Share
7,705
7,488
7,700
7,707
7,354
7,700
7,700
7,700
7,701
7,701
7,700
7,701
7,458
7,807
7,638
6,960
4,237
Basic Weighted Avg Shares
64,981
86,854
74,404
73,849
59,821
45,109
48,275
73,228
81,952
78,263
81,614
113,851
102,154
98,938
81,817
77,525
56,322
Sales/Revenue/Turnover
3.23
1.93
-0.44
1.99
3.21
-6.11
5.82
9.4
10.24
2.95
3.91
7.19
0.27
-0.55
-3.67
2.07
1.94
Operating Margin (%)
4,858
4,386
3,569
3,859
3,658
3,467
3,443
3,609
3,914
3,319
3,165
3,232
3,281
3,812
4,512
4,093
- -
Depreciation Expense
1,102
82
-3,863
157
221
-4,804
1,229
4,129
5,943
1,128
1,983
5,332
-858
-1,327
-4,659
-209
-181
Net Income, GAAP
30.36
36.36
- -
35.45
48.44
- -
8.17
12.68
14.33
25.41
16.32
14.57
- -
- -
- -
119.42
38.28
Effective Tax Rate (%)
1.7
0.09
-5.19
0.21
0.37
-10.65
2.55
5.64
7.25
1.44
2.43
4.68
-0.84
-1.34
-5.69
-0.27
-0.32
Profit Margin (%)
1,349
10,702
1,617
-8,492
-7,819
-9,571
-9,132
-4,020
-1,348
-3,554
-5,660
-3,556
-14,834
-22,013
-25,374
-16,462
-17,533
Working Capital
12,367
21,750
18,176
8,388
8,672
10,635
9,151
6,976
4,024
3,880
3,931
6,024
8,288
7,161
5,822
3,386
1,873
LT Debt
27,999
29,457
25,512
25,699
25,889
20,742
22,081
27,237
31,992
30,841
32,611
37,411
33,331
32,280
27,321
36,238
36,332
Total Equity
3.02
1.98
- -
1.79
1.97
- -
6.03
13.69
14.78
3.34
5.13
12.95
- -
- -
- -
-0.61
- -
Return on Invested Capital (%)
4.45
2.11
- -
2.27
2.25
- -
6.63
12.98
16.15
3.01
5.04
13.09
- -
- -
- -
-1.3
0.51
Return on Capital (%)
7.16
0.53
-29.59
1.43
1.99
-54.96
17.76
43.8
44.94
7.84
13.8
30.97
-4.87
-8.71
-37.88
-2.12
-1.85
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
13,132
13,838
LT Borrowings
- -
3,049
1,539
LT Finance Leases
- -
336
334
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
7,701
7,701
Market Capitalization
17,594
16,248
9,357

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
24,856
24,992
Cash, Cash Equivalents & STI
- -
11,770
12,147
Accounts Receivable, Net
- -
2,817
2,068
Inventories
- -
7,410
8,092
Total Current Liabilities
- -
41,318
42,525
Payables & Accruals
- -
- -
- -
ST Debt
- -
13,132
13,838
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.74%
3.59%
32.64%
Free Cash Flow
-80.46%
-151.67%
-399.6%
Net Income, GAAP
41.22%
52.63%
-95.52%
Sales/Revenue/Turnover
7.39%
0.71%
-5.25%
Total Cash Common Dividend
13.44%
1.1%
-22.79%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
20,392
22,616
18,506
20,304
81,817
2025
19,425
18,651
- -
19,953
77,525
2026
17,718
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.04
- -
- -
- -
-0.61
2025
-0.02
- -
- -
- -
-0.03
2026
0.01
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
- -
- -
- -
0.08
2025
0.02
- -
- -
- -
0.06
2026
0.02
- -
- -
- -
- -
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Business
Maanshan Iron & Steel Company Limited, one of China's largest iron and steel producers headquartered in Maanshan, Anhui Province and founded in 1958, manufactures and sells a broad range of steel products and related by-products primarily in Mainland China, Hong Kong and internationally. Its core products encompass four major categories: steel plates including hot-rolled and cold-rolled thin plates, galvanized plates, coil-coating plates and medium plates used in construction, automobiles, appliances and shipbuilding; section steel comprising H-shaped steel and medium-shaped steel for construction, steel structures, machinery and petroleum platforms; wire rods such as high-speed wire rod materials and hot-rolled reinforcing steel applied in prestressing strands, springs and armoured concrete; and train wheels including wheels and wheel rims for railway transport, ports, petrochemicals and aerospace, supported by proprietary technologies like high-speed railroad wheels and shock-resistant H-beams. The company operates through iron-making, steel-making and rolling processes, with additional activities in ferrous metallurgy processing, coke production, steel trading, imports and exports of iron ore and scrap, and rail equipment manufacturing via subsidiaries. In a significant recent development, its key subsidiary Maanshan Steel Co., Ltd. undergoes restructuring through Baoshan Iron & Steel's 9 billion yuan investment announced in April 2025, acquiring 35.42% equity for 5.139 billion yuan and injecting 3.861 billion yuan via capital increase to hold 49% stake, aiming to enhance competitiveness, achieve synergies and bolster regional market influence amid prior heavy losses. Controlled indirectly by China Baowu Steel Group since 2019, the company maintains dual listings on the Hong Kong Stock Exchange (ticker: 0323.HK) since 1993 and Shanghai Stock Exchange.