Metallurgical Corporation of China (1618) Q3 2025 earnings summary

Executive summary

• Operating revenue for Q3 2025 was RMB 97.56 billion, down 14.25% year-over-year; YTD revenue was RMB 335.09 billion, down 18.79% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 870.88 million, a 67.52% decrease year-over-year; YTD net profit was RMB 3.97 billion, down 41.88%.

• The company signed new contracts totaling RMB 760.67 billion in the first three quarters, a 14.7% decrease year-over-year, while newly signed overseas contracts increased by 10.1%.

Financial highlights

• Total profit for Q3 was RMB 1.74 billion, down 46.15% year-over-year; YTD total profit was RMB 7.02 billion, down 21.26%.

• Net profit after deducting non-recurring items for Q3 was RMB 724.19 million, down 69.88% year-over-year; YTD was RMB 3.05 billion, down 45.74%.

• Basic and diluted EPS for Q3 were RMB 0.04, down 69.23% year-over-year; YTD EPS was RMB 0.13, down 45.83%.

• Net cash flow from operating activities YTD was negative RMB 19.39 billion.

• Total assets at quarter-end were RMB 873.01 billion, up 8.04% from year-end 2024.

Outlook and guidance

• Declines in revenue and profit attributed to reduced demand in the iron and steel industry, sluggish construction sector, and real estate adjustments, as well as internal business structure transformation.