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    Non-energy minerals

  3. •

    Steel
Sansteel MinGuang Co., Ltd., Fujian Class A

Sansteel MinGuang Co., Ltd., Fujian Class A

SSZSE:002110
2.76
CNY
0.00
(0.00%)
-0.12EPS
7.00BMarket Cap
Oct 29Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
23.87
22.56
15.67
9.96
12.94
14.76
20.77
19.79
25.86
22.27
19.39
19.12
15.88
18.15
Basic EPS, GAAP
0.07
0.04
-1.16
0.65
2.21
2.65
1.76
1.04
1.64
0.06
-0.27
-0.53
0.01
-0.12
Free Cash Flow per Basic Share
0.21
1.59
0.21
0.32
1.16
1.66
-0.26
0.92
-0.53
-1.54
-1.04
-0.34
0.33
- -
Dividend per Share
0.3
0.27
0.26
0.1
0.24
0.88
1.36
0.17
0.55
0.96
0.16
0.15
0.14
0.13
Book Value per Share
3.24
3.23
2.06
3.54
6.4
7.48
8.44
8.31
9.45
8.68
8.33
7.89
8.03
7.89
Tangible Book Value per Share
3.23
3.22
2.04
3.38
6.13
7.24
7.68
7.58
8.78
8.05
7.7
6.85
7.05
6.96
Basic Weighted Avg Shares
808
799
801
1,418
2,449
2,455
2,457
2,458
2,426
2,319
2,473
2,409
2,710
2,422
Sales/Revenue/Turnover
19,299
18,022
12,542
14,118
31,686
36,248
51,040
48,636
62,753
51,658
47,941
46,058
43,029
43,957
Operating Margin (%)
2
1.59
-6.59
9.97
24.64
24.25
11.43
7.69
8.89
0.87
0.12
-1.01
1.08
0.19
Depreciation Expense
382
422
433
353
618
671
1,144
1,178
1,216
1,215
1,382
1,607
1,835
- -
Net Income, GAAP
54
32
-929
927
5,420
6,507
4,324
2,556
3,979
139
-668
-1,277
27
-286
Effective Tax Rate (%)
10.99
6.99
- -
25.04
24.83
25.06
25.11
25.08
23.85
11.5
- -
- -
47.73
- -
Profit Margin (%)
0.28
0.18
-7.4
6.56
17.11
17.95
8.47
5.25
6.34
0.27
-1.39
-2.77
0.06
-0.65
Working Capital
-1,165
-1,103
-1,896
896
3,650
7,168
3,313
-1,641
-234
-3,722
-6,869
-12,733
-11,585
-11,579
LT Debt
993
994
995
453
225
44
300
891
1,458
1,538
3,031
2,211
3,798
3,393
Total Equity
2,597
2,593
1,649
7,298
14,006
18,412
20,768
20,475
23,298
21,410
20,533
19,372
19,708
19,362
Return on Invested Capital (%)
0.67
0.57
- -
12.94
42.7
32.51
18.41
10.78
13.79
1.01
- -
- -
0.21
- -
Return on Capital (%)
5.6
4.32
- -
14.66
40.48
35.96
19.9
10.58
13.98
1.13
- -
- -
0.55
- -
Return on Common Equity (%)
2.02
1.23
-43.78
20.71
52.93
41.3
22.16
12.45
18.28
0.63
-3.2
-6.45
0.14
-1.49

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
15,987
17,756
17,804
LT Borrowings
3,773
3,600
3,369
LT Finance Leases
25
25
24
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,429
2,429
2,429
Market Capitalization
10,664
9,401
6,996

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
14,190
16,636
16,418
Cash, Cash Equivalents & STI
5,838
6,434
5,857
Accounts Receivable, Net
282
229
138
Inventories
2,978
3,403
3,447
Total Current Liabilities
25,775
28,138
27,997
Payables & Accruals
- -
- -
- -
ST Debt
15,987
17,756
17,804
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
47.5%
-0.47%
1.73%
Free Cash Flow
-11.84%
-57.81%
-211.11%
Net Income, GAAP
-40.06%
-126.29%
-102.12%
Sales/Revenue/Turnover
18.11%
-1.27%
-6.58%
Total Cash Common Dividend
71.7%
39.83%
1.56%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
11,202
11,855
10,120
12,881
46,058
2025
10,842
11,219
- -
9,762
43,029
2026
11,366
11,610
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.04
-0.05
-0.45
0.02
-0.53
2025
0.03
0.03
- -
-0.06
0.01
2026
-0.04
-0.04
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
0.04
0.05
- -
0.15
2025
0.05
0.04
- -
0.02
0.14
2026
0.05
0.03
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Jian Zhou Pan
Full Time Employees
12,416
Sector
Non-energy minerals
Industry
Steel
Address
Qungong 3rd Road Sanming FJ China 365000
IPO Date
Jan 26, 2007
Website
sgmg.com.cn
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Business
Sansteel MinGuang Co., Ltd., Fujian (002110.SZ) manufactures and sells iron and steel products primarily in China, with operations focused on Fujian Province. The company produces six main categories of products: construction materials including deformed steel bars and steel wires for reinforced concrete; metal products; medium and thick plates; high-quality round steel; H-shaped steel; and coal chemical products under the Minguang brand, which holds provincial fame and multiple national quality awards such as the Gold Cup Award. It operates through subsidiaries like Quanzhou Minguang Steel and Luoyuan Minguang Steel, serving construction, infrastructure, and industrial customers with key projects including bridges, metro lines, and petrochemical facilities. Founded in 2001 and headquartered in Sanming, Fujian, the company maintains blast furnace iron capacity of approximately 4.85 million tonnes and crude steel capacity of 6.8 million tonnes annually. The company pursues capacity replacement and ultra-low emission upgrades, with recent completions including two new 1950m3 blast furnaces operational in 2023 and 2024, replacing older units, alongside Quanzhou Minguang's high-furnace project finalized in early 2025 and environmental验收 passed in April 2025. Ongoing projects encompass Quanzhou Minguang steelmaking capacity replacement, an 80MW power unit, and Luoyuan Minguang's 110-ton converter Phase II, alongside product innovations like high-precision H-beams and cold heading steel to enhance cost efficiency and market competitiveness. These initiatives mark the final phase of major expansions planned through 2025, reducing future capital expenditures significantly while bolstering green production and output balance.