SEHK:323

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Maanshan Iron & Steel

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


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

323IndustryMarket
7 Day1.1%2.3%1.2%
30 Day0.6%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 Year35.1%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

Valuation

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

NamePositionTenureCompensationOwnership
Qiangmin Wang
GM, Chief Accountant & Executive Director0.58yrno datano data
Tianbao Ren
Executive Director9.17yrsno datano data
Jun Tian
Deputy General Manager3.67yrsCN¥671.30kno data
Wenyang Zhang
Deputy GM & Executive Director2.92yrsCN¥658.33kno data
Ming Fu
Deputy General Manager3yrsCN¥656.00kno data
Hongyun He
Joint Company Secretary2.5yrsCN¥413.90kno data
Yi Ding
Executive Chairman of the Board7.17yrsno datano data
Qunli Xing
Head of Accountingno datano datano data
Hoi Shan Chiu
Joint Company Secretary2.5yrsno datano 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

NamePositionTenureCompensationOwnership
Qiangmin Wang
GM, Chief Accountant & Executive Director0.58yrno datano data
Tianbao Ren
Executive Director9.17yrsno datano data
Wenyang Zhang
Deputy GM & Executive Director2.92yrsCN¥658.33kno data
Yi Ding
Executive Chairman of the Board7.17yrsno datano data
Xiaofeng Zhang
Chairman of the Supervisory Board12.17yrsCN¥854.89kno data
Tongzhou Qin
Independent Supervisor2.92yrsno datano data
Qianchun Zhang
Supervisor2.92yrsno datano data
Haifan Qian
Non Executive Director9.17yrsCN¥847.60kno data
Yada Yang
Independent Supervisor2.92yrsno datano data
Chunxia Zhang
Independent Non-Executive Director2.92yrsCN¥100.00kno data
Shaofang Zhu
Independent Non-Executive Director2.92yrsCN¥100.00kno data
Xianzhu Wang
Independent Non-Executive Director2.92yrsCN¥100.00kno 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MAAN.FOTCPK (Pink Sheets LLC)YesForeign Shares-Foreign ListedUSUSDNov 1993
323SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign Shares-Foreign ListedHKHKDNov 1993
YM9ADB (Deutsche Boerse AG)YesForeign Shares-Foreign ListedDEEURNov 1993
323SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDNov 1993
323SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesForeign Shares-Foreign ListedHKHKDNov 1993
600808SHSE (Shanghai Stock Exchange)Domestic SharesCNCNYJun 1994
600808XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect)Domestic SharesCNCNYJun 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/26 12:53
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.