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Major Chinese state-owned steelmaker based in Anhui province, producing flat and long steel products.
Major Chinese state-owned steelmaker based in Anhui province, producing flat and long steel products.
Sells steel into China's domestic market at prices that follow national steel prices, with train wheels and rail steel as a specialty. These H shares are the same company as Shanghai-listed 600808, and China Baowu Steel Group controls it through the Magang parent group.
In one line: A Chinese state-owned regional steelmaker.
Moat: none (scale). Commodity steel producer; returns driven mainly by steel prices and utilization, not differentiation.
Headquarters: Ma'anshan, China · Founded: 1993 · Employees: 16,780
Size Maanshan Iron & Steel (0323.HK) is a Hong Kong Materials company (Steel) with a market value of $2.27B, the 392nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$1.26 on 6 Nov 2026.
Performance Over six months the shares fell 49.6%, against -24.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 0.3% over the last twelve months (peer median -0.1%); the operating margin is -0.4% (peer median 3.8%).
Valuation It trades at 0.35× book value against a peer median of 1.34× (3rd cheapest of 21).
Price implies The share price implies a return on equity of about 5.5%; Maanshan Iron & Steel delivers -1.9%, so the price asks more than the business earns today.
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$84.4B | HK$84.0B | HK$58.8B | HK$109B | HK$119B |
| Revenue growth | — | +43% | -46% | -8% | — |
| Gross profit | HK$6.96B | HK$4.08B | -HK$31.1B | HK$1.46B | HK$3.51B |
| EBITDA | n/a | HK$5.20B | HK$598M | HK$2.26B | HK$2.17B |
| Net income | -HK$528M | -HK$226M | -HK$5.05B | -HK$1.47B | -HK$1.03B |
| Free cash flow | HK$2.26B | HK$2.43B | -HK$584M | -HK$4.72B | -HK$1.53B |
| Capital expenditure | HK$2.21B | HK$2.16B | HK$1.82B | HK$7.07B | HK$9.70B |
| Total debt | HK$31.6B | HK$30.0B | HK$33.8B | HK$32.6B | HK$38.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Maanshan Iron & Steel 0323.HK | $2.27B | -50% | 0% | -2% | 0.35× | 5.5% |
| Angang Steel 0347.HK | $2.48B | -32% | -1% | -14% | 0.20× | 4.6% |
| Baoshan Iron & Steel 600019.SS | $19.9B | -3% | +6% | 4% | 0.65× | 3.8% |
| Chongqing Iron & Steel 1053.HK | $1.64B | -27% | -8% | -18% | 0.45× | 5.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0323.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.6% | -7.6% | 4th lowest of 21 |
| 6-month return | -49.6% | -24.4% | 2nd lowest of 20 |
| Return on equity | -1.9% | 5.0% | 5th lowest of 21 |
| Price / book | 0.35× | 1.34× | 3rd cheapest of 21 |
| ROE the price implies | 5.5% | 11.4% | 7th least demanding of 21 |
| ROE delivered | -1.9% | 3.9% | 5th lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Maanshan Iron & Steel 0323.HK | Hong Kong | $2.27B | -50% | 0% | -2% | 0.35× | 5.5% | -1.9% |
| Advanced Technology & Materials 000969.SZ | China | $2.28B | -32% | +37% | 8% | 2.53× | 25.5% | 7.8% |
| Daido Steel 5471.T | Japan | $2.29B | -4% | +8% | 8% | 0.71× | 8.8% | 8.1% |
| Alleima ALLEI.ST | Sweden | $2.32B | +9% | -5% | 6% | 1.31× | 13.1% | 6.1% |
| KIOCL KIOCL.NS | India | $2.15B | -18% | +27% | 1% | 11.72× | 157.0% | n/a |
| Hainan Mining 601969.SS | China | $2.44B | -33% | +29% | 11% | 2.27× | 20.6% | 10.9% |
| Angang Steel 0347.HK | Hong Kong | $2.48B | -32% | -1% | -14% | 0.20× | 4.6% | -14.2% |
| Xinxing Ductile Iron Pipes 000778.SZ | China | $2.05B | -24% | +15% | 3% | 0.52× | 3.7% | 2.6% |
| Outokumpu OUT1V.HE | Finland | $1.99B | -31% | -7% | -2% | 0.52× | 8.0% | -2.3% |
| Shandong Iron and Steel 600022.SS | China | $1.98B | -12% | -10% | -1% | 0.71× | 4.8% | -1.1% |
| Sims SGM.AX | Australia | $2.62B | -11% | +7% | 9% | 1.42× | 17.2% | 9.4% |
| Aperam APAM.AS | Netherlands | $2.63B | -32% | -4% | 4% | 0.73× | 9.8% | 3.9% |
| Hyundai Steel 004020.KS | South Korea | $2.73B | -34% | +2% | 0% | 0.19× | 3.9% | n/a |
| Hangzhou Iron & Steel 600126.SS | China | $2.73B | -38% | -58% | -1% | 0.94× | 9.7% | -0.9% |
| Worthington Steel WS | United States | $1.88B | -9% | +69% | -3% | 1.78× | 25.0% | -3.1% |
| Zhejiang Jiuli Hi-Tech Metals 002318.SZ | China | $2.75B | -37% | -38% | 9% | 2.33× | 14.6% | 8.7% |
| Fujian Makeng Mining 601123.SS | China | $2.76B | n/a | -3% | 18% | 3.62× | 64.7% | n/a |
| Tung Ho Steel Enterprise 2006.TW | Taiwan | $1.86B | +26% | -4% | 14% | 1.71× | 5.2% | n/a |
| Shanxi Taigang Stainless Steel 000825.SZ | China | $2.78B | -24% | +1% | -2% | 0.57× | 4.8% | -2.2% |
| Ratnamani Metals & Tubes RATNAMANI.NS | India | $1.83B | -13% | -16% | 12% | 4.19× | 41.6% | n/a |
| Yongxing Special Materials Technology 002756.SZ | China | $2.88B | -59% | +30% | 11% | 1.37× | 14.9% | 11.4% |