China Steel Corporation (2002) AI Stock Analysis

China Steel Corporation

(TWSE:2002)

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Rating:39Underperform

Price Target:TWD 17.50▼(-6.91% Downside)

Action:initiatedcoverage

Date:11/10/26

The score is driven primarily by materially weakened financial performance, including a net loss, compressed margins, rising leverage, and declining free cash flow. Weak technical momentum and a negative P/E further limit the score, while the low RSI and stochastic readings provide only potential oversold support.

Positive Factors

Integrated product breadthThe integrated model and broad product portfolio give China Steel exposure to multiple industrial end markets rather than a single application. Its upstream, downstream, coated, processing, and distribution capabilities can support customer retention and diversify demand across construction and manufacturing cycles.

Negative Factors

Revenue decline and net lossesThe sustained revenue contraction and return to negative net income show that weaker demand or pricing spreads are materially affecting earnings power. Persistent losses could reduce internally generated capital, limit investment flexibility, and make profitability more dependent on a future steel-cycle recovery.

China Steel Corporation (2002) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 282.73B
Dividend Yield: 0.80%
Average Volume (3M): 35.36M
Price to Earnings (P/E): -89.4
Beta (1Y): 0.26
Revenue Growth: 1.12%
EPS Growth: ―
Country: TW
Employees: 23,313
Sector: General
Sector Strength: 55
Industry: Steel

China Steel Corporation Business Overview & Revenue Model

Company Description

China Steel Corporation manufactures and sells steel products in Taiwan, Vietnam, Malaysia, China, India, and internationally. It offers steel plates primarily for use in construction structures, shipbuilding, bridge beams, oil country tabular goods,...

China Steel Corporation Financial Statement Overview

Summary

Weak profitability is the primary concern: revenue and margins declined, the company reported a net loss, leverage increased, and free cash flow weakened. Positive equity, positive operating cash flow, and debt below equity provide limited support.

Income Statement

20Very Negative

Balance Sheet

55Neutral

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	316.89B	317.16B	360.54B	363.33B	449.57B	468.33B
Gross Profit	13.22B	9.03B	15.06B	16.69B	31.90B	95.31B
EBITDA	30.30B	28.71B	40.96B	39.89B	59.84B	118.64B
Net Income	-3.07B	-4.35B	1.98B	1.68B	17.78B	62.05B
Balance Sheet
Total Assets	685.88B	673.85B	695.06B	678.76B	683.77B	687.99B
Cash, Cash Equivalents and Short-Term Investments	64.10B	54.72B	49.47B	44.20B	46.39B	42.96B
Total Debt	272.75B	271.10B	272.43B	262.25B	245.87B	186.84B
Total Liabilities	350.82B	343.93B	353.57B	336.51B	326.92B	301.04B
Stockholders Equity	297.33B	292.63B	301.30B	305.77B	319.90B	349.03B
Cash Flow
Free Cash Flow	6.38B	12.59B	-481.99M	1.04B	-7.61B	50.20B
Operating Cash Flow	25.45B	44.74B	42.29B	38.69B	24.34B	71.30B
Investing Cash Flow	-23.92B	-39.22B	-40.62B	-41.27B	-24.05B	-16.17B
Financing Cash Flow	-8.35B	-6.69B	1.58B	-12.92B	2.80B	-48.56B

China Steel Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2002 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:2027	61Neutral	TWD 121.82B	9.96	―	3.08%	24.28%	173.07%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:7610	54Neutral	TWD 72.59B	39.61	―	0.03%	―	―
TW:1605	47Neutral	TWD 149.34B	10.18	―	1.48%	-0.13%	1219.70%
TW:1326	45Neutral	TWD 418.20B	30.30	―	0.84%	8.51%	―
TW:1301	40Underperform	TWD 444.97B	42.62	―	0.72%	-11.04%	―
TW:2002	39Underperform	TWD 287.48B	-89.45	―	0.80%	1.12%	―

* General Sector Average

Performance Comparison

TW:2002 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2002	China Steel Corporation	18.80	0.89	4.98%
TW:1301	Formosa Plastics Corporation	70.20	27.95	66.16%
TW:1326	Formosa Chemicals & Fibre Corporation	73.50	38.30	108.82%
TW:1605	Walsin Lihwa Corporation	34.05	0.09	0.28%
TW:2027	TA Chen Stainless Pipe Co., Ltd.	50.10	13.83	38.14%
TW:7610	LIANYOU METALS CO.,LTD.	1330.00	1243.77	1442.40%

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.

Date of analysis: Nov 10, 2026

China Steel Corporation AI Stock Analysis