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Metallurgical Corporation of China Ltd. Class H
(1618)
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Rating:42Neutral
Price Target:
HK$1.50
â–¼(-38.78% Downside)
Action:Reiterated
Date:09/06/26
The score is held back primarily by weak financial performance (falling revenue, extremely thin margins, very low ROE) alongside increased leverage, which raises balance-sheet risk. Technicals add further pressure with the stock trading below key moving averages and negative momentum signals. Valuation is also a headwind due to a very high P/E, partially tempered by a ~4.53% dividend yield.
Positive Factors
Positive cash generation
Positive operating and free cash flow provide an internal funding source for project execution, working-capital needs, and selected growth investment. This supports business resilience because MCC is not entirely dependent on external financing to sustain its engineering and construction activities.
Negative Factors
Weak revenue and earnings trend
Contracting activity is producing a weaker earnings cycle, with declining revenue and a sharp reduction in earnings growth. Persistent top-line pressure can reduce operating scale, weaken bidding flexibility, and make it harder for MCC to convert its large project capabilities into durable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive cash generation
Positive operating and free cash flow provide an internal funding source for project execution, working-capital needs, and selected growth investment. This supports business resilience because MCC is not entirely dependent on external financing to sustain its engineering and construction activities.
Read all positive factors
Metallurgical Corporation of China Ltd. Class H (1618) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$58.63B
Dividend Yield4.41%
Average Volume (3M)6.84M
Price to Earnings (P/E)102.3
Beta (1Y)1.17
Revenue Growth-17.13%
EPS Growth-88.69%
CountryHK
Employees89,982
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.28
Shares Outstanding2,839,000,000
10 Day Avg. Volume9,298,355
30 Day Avg. Volume6,842,507
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)0.24
Revenue Forecast (FY)HK$357.56B
Metallurgical Corporation of China Ltd. Class H Business Overview & Revenue Model
Company Description
Metallurgical Corporation of China Ltd. (MCC), through its various subsidiaries, conducts extensive operations both within China and globally across four primary business segments. Its Engineering Contracting division provides comprehensive engine...
How the Company Makes Money
MCC primarily makes money by earning revenue from project-based contracting and related services. Its core revenue model is tied to winning contracts (often through tendering or negotiated awards) to deliver engineering, procurement, and construct...
Metallurgical Corporation of China Ltd. Class H Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
41
Neutral
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 393.37B | 455.38B | 552.02B | 633.87B | 592.67B | 500.57B |
| Gross Profit | 39.17B | 45.93B | 53.48B | 61.41B | 57.15B | 53.14B |
| EBITDA | 6.91B | 13.23B | 17.01B | 20.34B | 21.88B | 19.61B |
| Net Income | 545.38M | 1.32B | 6.75B | 8.67B | 10.28B | 11.61B |
Balance Sheet | ||||||
| Total Assets | 806.65B | 839.49B | 808.02B | 661.60B | 585.38B | 543.47B |
| Cash, Cash Equivalents and Short-Term Investments | 68.07B | 77.77B | 52.56B | 44.44B | 45.66B | 41.83B |
| Total Debt | 160.99B | 65.98B | 78.59B | 66.19B | 62.88B | 60.54B |
| Total Liabilities | 675.90B | 655.93B | 625.68B | 493.61B | 423.48B | 392.08B |
| Stockholders Equity | 102.56B | 155.76B | 153.04B | 145.48B | 121.11B | 107.49B |
Cash Flow | ||||||
| Free Cash Flow | 7.44B | 9.05B | 985.05M | 1.30B | 13.84B | 14.09B |
| Operating Cash Flow | 13.76B | 15.32B | 7.85B | 5.89B | 18.15B | 17.64B |
| Investing Cash Flow | 47.34B | 23.71B | -9.58B | -6.72B | -6.56B | -12.57B |
| Financing Cash Flow | -46.79B | -12.69B | 11.06B | 1.16B | -9.67B | -16.24B |
Metallurgical Corporation of China Ltd. Class H Technical Analysis
Negative
2.45
Price Trends
1.44
Negative
1.48
Negative
1.68
Negative
Market Momentum
-0.02
Positive
45.90
Neutral
31.73
Neutral
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 1.40, above the 50-day MA of 1.44, and above the 200-day MA of 1.68, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 45.90 is Neutral, neither overbought nor oversold. The STOCH value of 31.73 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$45.45B | 5.23 | 10.83% | 7.46% | -14.20% | -12.79% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | HK$91.80B | 5.22 | 5.48% | 7.78% | -3.83% | -13.64% | |
50 Neutral | HK$98.61B | 7.94 | 4.28% | 6.23% | -5.33% | -38.33% | |
46 Neutral | HK$14.91B | 52.82 | 8.67% | 0.40% | 0.61% | 61.74% | |
44 Neutral | HK$54.19B | 20.18 | 4.63% | 3.39% | 2.43% | -36.44% | |
42 Neutral | HK$58.63B | 102.34 | 0.42% | 4.41% | -17.13% | -88.69% |
* Industrials Sector Average
HK:1618
Metallurgical Corporation of China Ltd. Class H
1.40
-0.82
-36.94%
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3.49
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8.48
-1.59
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Metallurgical Corporation of China Ltd. Class H Corporate Events
MCC Profit Slides as Revenue and New Contracts Fall Amid Structural Industry Shift
Aug 28, 2026
Metallurgical Corporation of China reported a sharp year-on-year decline in interim 2026 results, with operating revenue down 25.94% to RMB175.91 billion and net profit falling 24.45% to RMB3.08 billion, while total assets slipped 3.89% and new co...
Metallurgical Corporation of China Sets Board Meeting to Approve Interim 2026 Results
Aug 17, 2026
Metallurgical Corporation of China Ltd. has scheduled a board meeting for 28 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The company also plans to authorize the publication of these interim results,...
MCC Secures RMB447.46 Billion in New Contracts as Project Mix Shifts Toward Advanced Manufacturing and Energy
Aug 14, 2026
Metallurgical Corporation of China Ltd. reported that the value of newly signed contracts from January to July 2026 reached RMB447.46 billion, including RMB39.13 billion in overseas deals, underscoring strong order intake and continued expansion i...
MCC Shareholders Approve Board and Senior Management Changes at 2026 EGM
Aug 13, 2026
Metallurgical Corporation of China Ltd. held its 2026 third extraordinary general meeting in Beijing on 13 August 2026, with the meeting duly convened in compliance with PRC company law and the firm’s articles of association. Shareholders co...
Metallurgical Corporation of China Details Board and Committee Structure
Aug 13, 2026
Metallurgical Corporation of China Ltd. has announced the current composition of its board of directors, detailing executive, non-executive, independent non-executive, and employee representative roles, with Li Zhongze serving as chairman. The com...
Metallurgical Corp of China Calls August EGM for Board Elections and Pay Changes
Jul 27, 2026
Metallurgical Corporation of China Ltd., a leading engineering and construction group in the metallurgical and infrastructure sectors, serves both domestic and international markets through project development and related services. Its Hong Kong-l...
Metallurgical Corporation of China Sees Sharp Drop in New Contracts in Q2 2026
Jul 24, 2026
Metallurgical Corporation of China reported that the aggregate value of newly signed contracts in the first half of 2026 reached RMB413.64 billion, down 24.5% year-on-year, with second-quarter contracts totaling RMB207.54 billion, a sharper 34.6% ...
Metallurgical Corporation of China Sets Slate for New Board Session
Jul 21, 2026
Metallurgical Corporation of China Ltd. has initiated the transition to its fourth board session, proposing eight director candidates in line with PRC company law and its Articles of Association. The new board will be confirmed at an extraordinary...
Metallurgical Corporation of China Books RMB413.64 Billion in New Contracts for First Half of 2026
Jul 14, 2026
Metallurgical Corporation of China Ltd. reported that newly signed contracts from January to June 2026 reached RMB413.64 billion, including RMB36.34 billion from overseas projects, underscoring strong demand for its engineering and construction se...
Metallurgical Corporation of China Wins Strong Shareholder Backing at 2025 AGM
Jun 29, 2026
Metallurgical Corporation of China Ltd. held its 2025 annual general meeting in Beijing on 29 June 2026, with the session chaired by board chairman Li Zhongze and attended by a majority of directors. The meeting confirmed robust shareholder partic...
MCC Secures Over RMB300 Billion in New Contracts Through May 2026
Jun 16, 2026
Metallurgical Corporation of China Ltd. reported that newly signed contracts from January to May 2026 reached RMB304.67 billion, including RMB18.60 billion in overseas deals, underscoring continued momentum in both domestic and international marke...
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.