Executive Summary
Maanshan Iron & Steel Company Limited manufactures and sells iron and steel products, and related by-products in the People's Republic of China and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Adequate balance sheet average dividend payer.
Share Price & News
How has Maanshan Iron & Steel's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 323 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.1%
323
2.3%
HK Metals and Mining
1.2%
HK Market
1 Year Return
-38.5%
323
8.5%
HK Metals and Mining
2.3%
HK Market
Return vs Industry: 323 underperformed the Hong Kong Metals and Mining industry which returned 8.5% over the past year.
Return vs Market: 323 underperformed the Hong Kong Market which returned 2.3% over the past year.
Shareholder returns
| 323 | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.1% | 2.3% | 1.2% |
| 30 Day | 0.6% | 9.5% | 7.0% |
| 90 Day | -13.3% | 2.7% | 3.6% |
| 1 Year | -35.8%-38.5% | 11.0%8.5% | 6.6%2.3% |
| 3 Year | -37.1%-49.6% | -28.5%-33.1% | -4.7%-15.1% |
| 5 Year | 35.1%8.3% | 33.9%21.2% | 19.1%-1.1% |
Price Volatility Vs. Market
How volatile is Maanshan Iron & Steel's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
What Do The Returns At Maanshan Iron & Steel (HKG:323) Mean Going Forward?3 weeks ago | Simply Wall St
What Kind Of Investors Own Most Of Maanshan Iron & Steel Company Limited (HKG:323)?1 month ago | Simply Wall St
These 4 Measures Indicate That Maanshan Iron & Steel (HKG:323) Is Using Debt ExtensivelyValuation
Is Maanshan Iron & Steel undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 323 (HK$1.82) is trading below our estimate of fair value (HK$4.72)
Significantly Below Fair Value: 323 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 323 is poor value based on its PE Ratio (15.2x) compared to the HK Metals and Mining industry average (9.6x).
PE vs Market: 323 is poor value based on its PE Ratio (15.2x) compared to the Hong Kong market (11.1x).
Price to Earnings Growth Ratio
PEG Ratio: 323 is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: 323's PB Ratio (0.4x) is in line with the HK Metals and Mining industry average.
Next Steps
Future Growth
How is Maanshan Iron & Steel forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?
16.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 323's forecast earnings growth (16.5% per year) is above the savings rate (1.6%).
Earnings vs Market: 323's earnings (16.5% per year) are forecast to grow slower than the Hong Kong market (22.2% per year).
High Growth Earnings: 323's earnings are forecast to grow, but not significantly.
Revenue vs Market: 323's revenue is expected to decline over the next 3 years (-0.5% per year).
High Growth Revenue: 323's revenue is forecast to decline over the next 3 years (-0.5% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 323's Return on Equity is forecast to be low in 3 years time (6.3%).
Next Steps
Past Performance
How has Maanshan Iron & Steel performed over the past 5 years?
40.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 323 has high quality earnings.
Growing Profit Margin: 323's current net profit margins (1%) are lower than last year (4.6%).
Past Earnings Growth Analysis
Earnings Trend: 323 has become profitable over the past 5 years, growing earnings by 40.2% per year.
Accelerating Growth: 323's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: 323 had negative earnings growth (-78.1%) over the past year, making it difficult to compare to the Metals and Mining industry average (-11.8%).
Return on Equity
High ROE: 323's Return on Equity (4.2%) is considered low.
Next Steps
Financial Health
How is Maanshan Iron & Steel's financial position?
Financial Position Analysis
Short Term Liabilities: 323's short term assets (CN¥39.3B) do not cover its short term liabilities (CN¥44.5B).
Long Term Liabilities: 323's short term assets (CN¥39.3B) exceed its long term liabilities (CN¥5.2B).
Debt to Equity History and Analysis
Debt Level: 323's debt to equity ratio (63.6%) is considered high.
Reducing Debt: 323's debt to equity ratio has reduced from 100.1% to 63.6% over the past 5 years.
Debt Coverage: 323's debt is well covered by operating cash flow (29.6%).
Interest Coverage: 323's interest payments on its debt are well covered by EBIT (149.3x coverage).
Balance Sheet
Next Steps
Dividend
What is Maanshan Iron & Steel current dividend yield, its reliability and sustainability?
5.09%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 323's dividend (5.09%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.25%).
High Dividend: 323's dividend (5.09%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.77%).
Stability and Growth of Payments
Stable Dividend: 323's dividend payments have been volatile in the past 10 years.
Growing Dividend: 323's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (77.4%), 323's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 323's dividends in 3 years are forecast to be covered by earnings (54% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.8yrs
Average management tenure
CEO
Qiangmin Wang (50 yo)
0.58
Tenure
Mr. Qiangmin Wang serves as General Manager and Executive Director at Maanshan Iron & Steel Company Ltd. since March 5, 2020. He serves as the Chief Accountant of Maanshan Iron & Steel Company Limited. He ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| GM, Chief Accountant & Executive Director | 0.58yr | no data | no data | |
| Executive Director | 9.17yrs | no data | no data | |
| Deputy General Manager | 3.67yrs | CN¥671.30k | no data | |
| Deputy GM & Executive Director | 2.92yrs | CN¥658.33k | no data | |
| Deputy General Manager | 3yrs | CN¥656.00k | no data | |
| Joint Company Secretary | 2.5yrs | CN¥413.90k | no data | |
| Executive Chairman of the Board | 7.17yrs | no data | no data | |
| Head of Accounting | no data | no data | no data | |
| Joint Company Secretary | 2.5yrs | no data | no data |
2.8yrs
Average Tenure
52.5yo
Average Age
Experienced Management: 323's management team is considered experienced (2.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| GM, Chief Accountant & Executive Director | 0.58yr | no data | no data | |
| Executive Director | 9.17yrs | no data | no data | |
| Deputy GM & Executive Director | 2.92yrs | CN¥658.33k | no data | |
| Executive Chairman of the Board | 7.17yrs | no data | no data | |
| Chairman of the Supervisory Board | 12.17yrs | CN¥854.89k | no data | |
| Independent Supervisor | 2.92yrs | no data | no data | |
| Supervisor | 2.92yrs | no data | no data | |
| Non Executive Director | 9.17yrs | CN¥847.60k | no data | |
| Independent Supervisor | 2.92yrs | no data | no data | |
| Independent Non-Executive Director | 2.92yrs | CN¥100.00k | no data | |
| Independent Non-Executive Director | 2.92yrs | CN¥100.00k | no data | |
| Independent Non-Executive Director | 2.92yrs | CN¥100.00k | no data |
2.9yrs
Average Tenure
56yo
Average Age
Experienced Board: 323's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Maanshan Iron & Steel Company Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Maanshan Iron & Steel Company Limited
- Ticker: 323
- Exchange: SEHK
- Founded: 1953
- Industry: Steel
- Sector: Materials
- Market Cap: HK$21.483b
- Shares outstanding: 7.70b
- Website: https://www.magang.com.cn
Number of Employees
Location
- Maanshan Iron & Steel Company Limited
- No. 8, Jiu Hua Xi Road
- Maanshan
- Anhui Province
- 243003
- China
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MAAN.F | OTCPK (Pink Sheets LLC) | Yes | Foreign Shares-Foreign Listed | US | USD | Nov 1993 |
| 323 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 1993 |
| YM9A | DB (Deutsche Boerse AG) | Yes | Foreign Shares-Foreign Listed | DE | EUR | Nov 1993 |
| 323 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 1993 |
| 323 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Nov 1993 |
| 600808 | SHSE (Shanghai Stock Exchange) | Domestic Shares | CN | CNY | Jun 1994 | |
| 600808 | XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect) | Domestic Shares | CN | CNY | Jun 1994 |
Biography
Maanshan Iron & Steel Company Limited manufactures and sells iron and steel products, and related by-products in the People's Republic of China and internationally. It offers hot-rolled and cold rolled, an ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/10/26 12:53 |
| End of Day Share Price | 2020/10/23 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.