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CMOC Group (3993) AI Stock Analysis
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CMOC Group
(HKEX:3993)
The score is driven primarily by strong profitability and an improved balance sheet, tempered by weakened recent free cash flow conversion. Technical indicators are the largest negative factor due to a clear downtrend and weak momentum, while the low P/E and solid dividend yield provide meaningful valuation support.
CMOC Group (3993) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 36.12B
- Dividend Yield
- 3.54%
- Average Volume (3M)
- 36.77M
- Price to Earnings (P/E)
- 9.7
- Beta (1Y)
- 1.52
- Revenue Growth
- 38.53%
- EPS Growth
- 62.42%
- Country
- Hong Kong
- Employees
- 12,354
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Industrial Materials
CMOC Group Business Overview & Revenue Model
Company Description
CMOC Group Limited, through its diverse subsidiaries, is a multifaceted enterprise engaged in the entire value chain from the extraction, processing, and refining to the commercialization of numerous metallic resources. These include essential minera...
How the Company Makes Money
CMOC makes money primarily by selling mined and processed mineral products. Its main revenue model is commodity-based: it extracts ore from its mines, processes it into saleable products (such as copper concentrate/cathode and cobalt products, and mo...
CMOC Group Earnings Call Summary
The earnings call highlighted strong financial performance with record profits and robust cash flow. The company demonstrated strategic advancements with acquisitions and improvements in operational efficiency, and maintained strong ESG practices. However, there were challenges in the trading business and cobalt sales due to external factors. Overall, the positive aspects outweigh the lowlights, indicating a strong performance outlook.
Q2-2025 Updates
Positive Updates
Negative Updates
Company Guidance
During the first half of 2025, CMOC Group Limited focused on organizational upgrades, cost reduction, and efficiency improvements, resulting in a strong financial performance despite a slight year-over-year (YoY) decline in operating revenue to CNY94.8 billion. The mining segment's operating income increased by 25.64%, while the trading business saw a YoY decline due to a restructuring of low-profitability product lines. EBITDA rose by 23.8% to CNY19.8 billion, and net attributable profit reached CNY8.7 billion, marking a 60% YoY increase. Operating cash flow was robust at CNY12 billion, with a gearing ratio reduction to 50.15% and a return on net assets improvement to 11.7%. The copper and cobalt segment contributed 84% of the gross profit in the mining segment, with copper production increasing by 12.7% to 354,000 metric tons and cobalt production rising by 13.1% to 61,000 metric tons. The company's molybdenum, tungsten, and phosphorus operations showed improvements in production, sales, and gross profit margins. CMOC Group also completed the acquisition of the Ecuadorian gold mine for CAD581 million and maintained its commitment to ESG excellence, with a continued AA MSCI rating and initiatives such as community development projects in the Democratic Republic of Congo. The company aims to achieve carbon neutrality by 2050, with plans for significant investments in energy efficiency and clean energy projects.
CMOC Group Financial Statement Overview
Summary
Income statement strength is clear (higher revenues over the cycle, a step-change in margins, and strong TTM profitability), and balance sheet leverage improved materially versus 2021–2022 with strong ROE. The key drag is cash flow: free cash flow and cash conversion weakened meaningfully from the 2024 peak into 2025/TTM, raising sustainability risk despite higher reported earnings.
Income Statement
84Very PositiveBalance Sheet
74PositiveCash Flow
58Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 266.68B | 206.44B | 213.03B | 186.27B | 172.99B | 173.86B |
| Gross Profit | 63.39B | 49.44B | 35.25B | 17.83B | 16.06B | 16.32B |
| EBITDA | 62.19B | 48.71B | 34.79B | 20.17B | 17.10B | 17.38B |
| Net Income | 29.88B | 20.34B | 13.53B | 8.25B | 6.07B | 5.11B |
Balance Sheet | ||||||
| Total Assets | 245.88B | 202.53B | 170.24B | 172.97B | 165.02B | 137.45B |
| Cash, Cash Equivalents and Short-Term Investments | 67.63B | 48.43B | 36.94B | 39.00B | 36.88B | 31.44B |
| Total Debt | 51.96B | 31.66B | 29.64B | 50.86B | 48.66B | 46.86B |
| Total Liabilities | 131.47B | 102.58B | 84.29B | 101.01B | 102.98B | 89.19B |
| Stockholders Equity | 94.41B | 82.47B | 71.02B | 59.54B | 51.70B | 39.85B |
Cash Flow | ||||||
| Free Cash Flow | 9.18B | 13.50B | 27.49B | 2.62B | 4.94B | 1.91B |
| Operating Cash Flow | 19.88B | 20.89B | 32.39B | 15.54B | 15.45B | 6.19B |
| Investing Cash Flow | -25.20B | -8.74B | -1.16B | -10.66B | -7.37B | -4.89B |
| Financing Cash Flow | 19.20B | -8.28B | -30.57B | -8.61B | -2.10B | 7.89B |
CMOC Group Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3993, the sentiment is Negative. The current price of 12.32 is below the 20-day moving average (MA) of 14.10, below the 50-day MA of 15.40, and below the 200-day MA of 17.89, indicating a bearish trend. The MACD of -0.88 indicates Positive momentum. The RSI at 30.70 is Neutral, neither overbought nor oversold. The STOCH value of 16.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3993.
CMOC Group Peers Comparison
Overall Rating
HK:393981Outperform
HK:969669Neutral- HK:399368Neutral
HK:224565Neutral
HK:109153Neutral
HK:612839.4Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:3939 | 81Outperform | HKD 49.74B | 25.78 | 34.35% | 1.53% | 79.09% | 83.65% |
| HK:9696 | 69Neutral | HKD 65.49B | 9.94 | 12.64% | ― | 115.70% | ― |
| HK:3993 | 68Neutral | HKD 329.39B | 9.68 | 32.65% | 3.54% | 38.53% | 62.42% |
| HK:2245 | 65Neutral | HKD 26.31B | 5.34 | 30.91% | 4.12% | 34.76% | 66.30% |
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| HK:1091 | 53Neutral | HKD 2.28B | 5.38 | 11.28% | ― | -32.45% | ― |
| HK:6128 | 39Underperform | HKD 23.72M | -0.05 | -1613.43% | ― | -20.14% | -84.86% |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:3993 | CMOC Group | 12.32 | -3.56 | -22.42% | |
| HK:1091 | South Manganese Investment Limited | 0.39 | -0.05 | -11.49% | |
| HK:9696 | Tianqi Lithium Corp. Class H | 23.08 | -23.50 | -50.45% | |
| HK:2245 | Lygend Resources & Technology Co., Ltd. Class H | 16.74 | -4.65 | -21.73% | |
| HK:3939 | Wanguo International Mining Group Ltd. | 11.24 | 3.68 | 48.64% | |
| HK:6128 | Graphex Group Limited | 0.02 | -0.29 | -93.33% |
CMOC Group Corporate Events
CMOC Group Cuts Hong Kong H-Share Board Lot Size to Boost Liquidity
CMOC Group Limited will cut the trading board lot size of its H shares on the Hong Kong Stock Exchange from 3,000 to 500 shares, effective at 9:00 a.m. on 13 November 2026, reducing the typical lot value from HK$39,030 to HK$6,505 at the current shar...
CMOC Group Publishes Unaudited Third-Quarter 2026 Results
CMOC Group Limited has released its unaudited financial results for the third quarter ended 30 September 2026, prepared under China’s Accounting Standards for Business Enterprises. The disclosure complies with Hong Kong listing and securities r...
CMOC Group to Host Webcast Briefing on 2026 Q3 Results
CMOC Group Limited, a joint stock company incorporated in the PRC and listed in Hong Kong, operates in the mining and resources sector and maintains an established governance structure with executive, non-executive and independent directors. The comp...
CMOC Group Sets October Board Meeting to Approve Nine-Month Results
CMOC Group Limited has scheduled a board meeting for 23 October 2026 to review and approve the publication of its quarterly results for the nine months ended 30 September 2026. The session will also address other board business, underscoring the comp...
CMOC updates tax treatment on 2026 interim dividend for overseas and mainland investors
CMOC Group will distribute an interim dividend of RMB0.95 per ten H shares for the six months ended 30 June 2026, payable on 24 September 2026 to shareholders on the Hong Kong register as of 8 September 2026. The company confirms that all other arran...
CMOC Group Updates Tax Terms on Interim Dividend for 2026 Half-Year
CMOC Group Limited has declared an interim ordinary dividend of RMB 0.95 per 10 shares for the six months ended 30 June 2026, equivalent to HKD 1.09804 per 10 shares based on a set exchange rate. The dividend, for the financial year ending 31 Decembe...
CMOC Group Wins Strong Shareholder Backing at 2026 Extraordinary Meeting
CMOC Group Limited reported the poll results of its first extraordinary general meeting of 2026, where shareholders holding about 66% of issued shares participated via onsite and online voting. Both A-share and H-share investors were represented, whi...
CMOC Group Announces 2026 Interim Results and RMB2 Billion Dividend Payout
CMOC Group Limited has released its unaudited consolidated interim results for the six months ended 30 June 2026, prepared in line with Hong Kong listing disclosure requirements and reviewed by its audit and risk committee. The interim report, which...
CMOC Group Declares Interim Dividend and Details Tax Arrangements for H Shareholders
CMOC Group Limited has announced an interim ordinary cash dividend for the six months ended 30 June 2026, declaring RMB 0.95 per 10 shares, equivalent to HKD 1.09804 at an exchange rate of RMB 1 to HKD 1.15583. The ex-dividend date is set for 1 Septe...
CMOC Group Schedules Webcast Briefing on 2026 Interim Results
CMOC Group Limited has announced it will hold an investor briefing via webcast on 21 August 2026 to discuss its interim results for the six months ended 30 June 2026 and provide an update on company operations. The online session, hosted on the Shang...
CMOC Group Sets August Board Meeting to Approve Interim Results
CMOC Group Limited has scheduled a board meeting for 19 August 2026 in Luoyang, Henan, to review and approve the publication of its interim financial results for the six months ended 30 June 2026. The meeting, which may also address other corporate m...
CMOC Revamps Connected Deals with CATL and KFM as Copper and Cobalt Outlook Shifts
CMOC Group Limited plans to revise annual caps and renew its continuing connected transactions with major shareholder CATL and joint subsidiary KFM Holding, citing expected substantial growth in copper output and a recent uptrend in global copper pri...
CMOC Group Calls 2026 EGM to Approve New Commercial and Governance Frameworks
CMOC Group Limited has called its first extraordinary general meeting of 2026 for 20 August in Shanghai, where shareholders will vote on several key operational and governance proposals. The agenda includes approval of product sales and procurement f...
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.
Date of analysis: Oct 27, 2026