1. Hong Kong Stocks

  2. •

    Non-energy minerals

  3. •

    Steel
IRC Limited

IRC Limited

HHKEX:1029
0.38
HKD
+0.02
(+4.17%)
607.03MMarket Cap
Mar 31Next Earn
IRC Limited
HKEX:1029
(Hong Kong Exchange)

Recent

price

0.38

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
USD
0.11
0.37
0.41
0.4
0.25
0.15
0.03
0.15
0.21
0.25
0.31
0.51
0.37
0.29
0.25
0.2
- -
Revenue per Share
-0.36
- -
-0.17
-0.1
-0.65
-0.93
-0.03
0.16
0.09
-0.05
0.14
0.19
-0.12
-0.18
-0.02
-0.1
- -
Basic EPS, GAAP
-0.75
-0.56
-0.43
-0.3
-0.28
-0.12
-0.02
0.02
0.03
0.04
0.08
0.21
0.02
0.02
-0.01
- -
- -
Free Cash Flow per Basic Share
0.1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
2.34
2.36
2.24
1.87
1.17
0.19
0.18
0.35
0.44
0.38
0.53
0.71
0.52
0.33
0.25
0.15
0.15
Book Value per Share
2.24
2.34
2.24
1.87
1.17
0.19
0.18
0.35
0.44
0.38
0.53
0.71
0.52
0.33
0.25
0.15
0.15
Tangible Book Value per Share
231
331
337
407
491
547
629
723
723
723
723
723
755
868
884
1,278
1,278
Basic Weighted Avg Shares
26
122
140
161
122
82
16
109
152
177
225
371
279
253
221
258
- -
Sales/Revenue/Turnover
-138.77
-7.42
-20.36
-8.91
-34.58
-30.24
-113.71
2.9
-4.8
1.61
17.44
36.9
8.44
7.45
-6.06
12.57
- -
Operating Margin (%)
5
11
20
21
7
1
1
15
21
29
29
27
24
19
18
17
- -
Depreciation Expense
-82
1
-58
-42
-318
-509
-18
113
68
-39
101
134
-88
-157
-20
-131
- -
Net Income, GAAP
- -
51.66
- -
- -
- -
- -
- -
- -
0.19
- -
1.57
0.04
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-319.32
0.82
-41.2
-25.87
-259.48
-621.38
-110.68
103.65
45.03
-21.83
44.77
36.11
-31.53
-61.98
-9.27
-50.95
- -
Profit Margin (%)
225
95
66
131
44
40
-12
-36
-125
-51
-25
31
46
56
57
58
58
Working Capital
- -
6
108
159
205
215
177
162
101
209
186
93
67
49
26
12
12
LT Debt
805
813
783
863
580
121
134
251
320
278
382
516
448
289
315
185
185
Total Equity
- -
-0.56
- -
- -
- -
- -
- -
- -
16.55
- -
20.58
24.33
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
0.08
- -
- -
- -
- -
- -
- -
17.08
- -
21.55
24.08
- -
- -
- -
- -
- -
Return on Capital (%)
-11.81
0.12
-7.29
-5.11
-44.28
-146.1
-14.39
58.81
23.89
-12.93
30.43
29.81
-18.21
-42.48
-6.77
-52.38
- -
Return on Common Equity (%)

Capital Structure

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
19
25
30
LT Borrowings
26
3
- -
LT Finance Leases
- -
- -
12
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,278
1,278
1,278
Market Capitalization
142
101
78

Working Capital

USD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
155
123
127
Cash, Cash Equivalents & STI
61
30
42
Accounts Receivable, Net
31
23
12
Inventories
48
50
54
Total Current Liabilities
98
53
69
Payables & Accruals
- -
- -
- -
ST Debt
19
25
30
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.42%
-9.16%
-41.31%
Free Cash Flow
-26.55%
-33.25%
-62.82%
Net Income, GAAP
-97.34%
80.17%
541.59%
Sales/Revenue/Turnover
60.13%
7.05%
16.68%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
253
2024
- -
- -
221
2025
- -
- -
258

Semi-annual Earnings Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
-0.18
2024
- -
- -
-0.02
2025
- -
- -
-0.1

Semi-annual Dividends Per Share

USD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -
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Business
IRC Limited (1029.HK) operates as an investment holding company principally engaged in the development, production, and sale of industrial commodities, primarily iron ore and related products; it conducts mining operations in the Russian Far East, with engineering services based in Russia and vanadium processing historically in China. The company functions through four main segments: Mines in Production, encompassing operational iron ore projects such as the Kimkan-Sutara (K&S) project in the Jewish Autonomous Region; Mines in Development, covering exploration and development initiatives including the Garinskoye, Kostenginskoye, and Bolshoi Seym projects focused on iron ore, ilmenomagnetite, magnetite, and ilmenite deposits in the Amur region; Engineering, delivering in-house engineering, scientific expertise, general trading, transportation, and related services; and Other, involving vanadium pentoxide production and ancillary projects. Incorporated in 2010 and headquartered at 6H, 9 Queen's Road Central, Central, Hong Kong, IRC targets steelmakers and industrial users primarily in Russia, China, and international markets, employing approximately 1,620 people across its operations. Recent developments include the completion in February 2024 of a 26% stake acquisition by Axioma Capital FZE LLC as part of a privatization offer valuing remaining shares at HKD 0.118 each; a rights issue in October 2024 to raise HKD 362 million for operational funding; full-year 2024 results announced in March 2025 showing narrowed attributable losses of US$21 million amid declining production and sales due to ore quality issues, with Q4 2024 iron ore output and sales increases; and the September 2025 disposal of its 46% equity in Heilongjiang Jianlong Vanadium Industries Co., Ltd. for RMB 32.2 million (US$4.5 million), exiting the vanadium joint venture entirely.