把地产的烂肉剥走，也把资源的肥肉剥走。 | 作者 | | 木盒 | | --- | --- | --- | | 编辑 | | 小白 | 2025年12月8日，中国中冶发了一个公告，第二个交易日股价迅速跌近跌停。 | C 601618.SH 交易中 | | | | | | --- | --- | --- | --- | --- | | 3.05 -10.03% | | | | 品 | | 开 3.23 低 | 3.23 高 | | 11.94 3.05 市盈率型 | | | 量 709.59万手 额 21.86亿 换 | | 3.97% 总市值 | 632.07亿 · | | | ■■ 公司地位:公司在冶金建设领域占据绝对优势地位,是冶 ... | | | | | | 分时 日K | 5日 | 周K 月K 年K * | -0 == | | | I 3.73 | | | 10.03% 切换金额 Jr | | | | | | 卖 3.10 3.79万 | | | | | 卖4 | 3.09 1.45万 | | | | | 英3 英2 | 3.08 3.66万 3.07 4.82万 | | | | | 英1 | 11 ...

Core Viewpoint - China Metallurgical Group Corporation (China MCC) has experienced a decline in stock price and financial performance, with significant decreases in revenue and net profit year-on-year, indicating potential challenges ahead for the company [1][2]. Financial Performance - As of September 30, 2025, China MCC reported a revenue of 335.09 billion yuan, a year-on-year decrease of 18.79% [2]. - The net profit attributable to shareholders was 3.97 billion yuan, reflecting a year-on-year decline of 41.88% [2]. - Year-to-date, the stock price has increased by 5.12%, but it has seen a decline of 7.84% over the last five trading days and 11.43% over the last 20 days [1]. Stock Market Activity - On November 5, the stock price fell by 2.01%, trading at 3.41 yuan per share, with a total market capitalization of 70.67 billion yuan [1]. - The net outflow of main funds was 16.88 million yuan, with large orders showing a buy of 25.98 million yuan and a sell of 30.69 million yuan [1]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 9.46% to 282,500 [2]. - The top ten circulating shareholders include China Securities Finance Corporation and Hong Kong Central Clearing Limited, with notable changes in their holdings [3]. Dividend Distribution - Since its A-share listing, China MCC has distributed a total of 17.21 billion yuan in dividends, with 4.37 billion yuan distributed over the last three years [3].

Core Viewpoint - China Metallurgical Group Corporation (China MCC) is the largest metallurgical construction contractor and metallurgical enterprise service provider globally, with a comprehensive business model covering engineering contracting, resource development, and more [1] Group 1: Business Performance - In Q3 2025, China MCC achieved a revenue of 335.09 billion yuan, ranking first in the industry, significantly surpassing the second-ranked company, Shen Sanda A, which reported 33.02 billion yuan [2] - The main business composition includes engineering contracting at 215.75 billion yuan (90.83%), specialty businesses at 16.87 billion yuan (7.10%), real estate at 4.79 billion yuan (2.02%), and other businesses at 0.12 billion yuan (0.05%) [2] - The net profit for the same period was 5.39 billion yuan, also leading the industry, with the second-ranked company, Yaxiang Integration, reporting only 0.44 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, China MCC's debt-to-asset ratio was 78.71%, an increase from 74.71% year-on-year, and higher than the industry average of 61.18% [3] - The gross profit margin for the same period was 10.00%, up from 9.04% year-on-year, but still below the industry average of 16.47% [3] Group 3: Leadership - The chairman, Chen Jianguang, has a rich background, currently serving as the vice general manager of China Minmetals Corporation and has held various positions in the industry [4] Group 4: Shareholder Information - As of September 30, 2014, the number of A-share shareholders increased by 10.38% to 340,700, while the average number of circulating A-shares held per household decreased by 9.41% to 47,700 [5] - By September 30, 2025, major shareholders included China Securities Finance Corporation with 589 million shares, unchanged, while Hong Kong Central Clearing Limited reduced its holdings by 223 million shares [5] Group 5: Resource Business Outlook - The mineral resource business is becoming a stable and sustainable growth driver, with three operating mines generating 2.82 billion yuan in revenue in H1 2025, contributing 0.55 billion yuan to net profit [6] - Two copper mines with significant resource reserves are expected to enhance company performance as copper prices are anticipated to rise due to a long-term supply-demand gap [6] - The company is projected to maintain net profits of 6.15 billion yuan, 6.66 billion yuan, and 7.27 billion yuan for 2025 to 2027 [6]

Core Viewpoint - China Metallurgical Group Corporation (China MCC) experienced a stock price decline of 2.03% on October 15, 2023, with a trading price of 3.86 CNY per share and a total market capitalization of 799.93 billion CNY [1] Financial Performance - For the first half of 2025, China MCC reported operating revenue of 2375.33 billion CNY, a year-on-year decrease of 20.52%, and a net profit attributable to shareholders of 30.99 billion CNY, down 25.31% year-on-year [2] - Since its A-share listing, China MCC has distributed a total of 172.09 billion CNY in dividends, with 43.73 billion CNY distributed over the past three years [3] Stock Market Activity - As of October 15, 2023, China MCC's stock has increased by 18.99% year-to-date, with a 0.26% rise over the last five trading days, a 12.54% increase over the last 20 days, and a 28.92% increase over the last 60 days [1] - The stock's trading volume on October 15, 2023, was 5.50 billion CNY, with a turnover rate of 0.78% [1] Shareholder Structure - As of June 30, 2025, the number of shareholders for China MCC was 312,000, a decrease of 1.90% from the previous period [2] - Major shareholders include China Securities Finance Corporation, holding 589 million shares, and Hong Kong Central Clearing Limited, which increased its holdings by 12.5 million shares to 429 million shares [3]