Metallurgical Corporation of China (1618) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue was RMB252.83bn, down 24.55% YoY; total profit was RMB5.68bn, down 19.11%, while newly signed contracts reached RMB519.17bn.

• Continued a shift toward metallurgical construction, industrial construction and featured businesses, alongside measures to strengthen risk resilience and improve operating quality.

Financial highlights

• Q3 revenue was RMB76.92bn, down 21.16% YoY; total profit was RMB1.66bn, down 4.69%.

• Q3 net profit attributable to shareholders was RMB1.13bn, up 29.92% YoY; excluding non-recurring items, it was RMB1.08bn, up 49.47%.

• 9M net profit attributable to shareholders was RMB3.46bn, down 12.91% YoY; adjusted for non-recurring items, it was RMB2.79bn, down 8.55%.

• 9M operating profit was RMB5.59bn versus RMB7.11bn YoY; net profit was RMB4.44bn versus RMB5.39bn.

Segment performance

• 9M core metallurgical construction revenue was RMB55.33bn, 21.9% of total revenue, up 4.4 percentage points YoY; non-ferrous engineering revenue rose 24.9% to RMB4.53bn and mining engineering rose 8.9% to RMB6.16bn.

• Featured-business revenue was RMB32.01bn, 12.7% of total, up 2.8 percentage points YoY; digital-intelligence revenue rose 49.1% to RMB970m.

• New contracts: metallurgical construction RMB131.80bn, industrial construction RMB77.63bn, infrastructure RMB235.58bn and featured businesses RMB67.11bn; infrastructure share fell 7.7 percentage points YoY to 45.4%.

• Overseas new contracts were RMB44.56bn, 8.6% of total, essentially flat YoY.