Maanshan Iron & Steel (323) Stock Overview
Manufactures and sells iron and steel products, and related by-products in Mainland China, Hong Kong, and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 6/6 |
| Future Growth | 3/6 |
| Past Performance | 0/6 |
| Financial Health | 4/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
No risks detected for 323 from our risk checks.
323 Community Fair Values
Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Maanshan Iron & Steel Company Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | HK$1.65 |
| 52 Week High | HK$3.07 |
| 52 Week Low | HK$1.57 |
| Beta | 0.92 |
| 1 Month Change | -13.61% |
| 3 Month Change | -34.00% |
| 1 Year Change | -12.70% |
| 3 Year Change | 20.44% |
| 5 Year Change | -48.11% |
| Change since IPO | -54.79% |
Recent News & Updates
Narrative Update • Jul 01
323: Upgraded Outlook And Higher Future P/E Will Support Share Returns
Analysts have raised their fair value estimate for Maanshan Iron & Steel to HK$2.20 from HK$1.91, citing updated assumptions on discount rates, revenue trends, profit margins, and a higher future P/E, in line with recent research upgrades. What’s in the News for Maanshan Iron & Steel Maanshan Iron & Steel has scheduled a board meeting for May 27, 2026, to review and approve a proposed capital increase of Baowu Environmental Technology by Magang Limited using the equity assets of Baowu Water it holds.
Narrative Update • Jun 17
323: Recent Upgrade And Higher Margin Outlook Will Support Stronger Stock Price
Analysts have nudged their fair value estimate for Maanshan Iron & Steel stock from about HK$2.99 to around HK$3.01, citing updated assumptions on discount rates, profitability and future P/E that align with the recent upgrade highlighted in Street research. What's in the News for Maanshan Iron & Steel A board meeting is scheduled for May 27, 2026 to consider and approve a capital increase of Baowu Environmental Technology by Magang Limited using its equity assets in Baowu Water.
Narrative Update • Jun 03
323: Recent Upgrade And Stronger Margins Will Support A More Optimistic Outlook
Analysts have trimmed their HK$ price target on Maanshan Iron & Steel by about HK$0.10, reflecting updated views on fair value, discount rates, revenue growth, profit margins and future P/E assumptions following recent Street research, including the latest upgrade from Goldman Sachs. What's in the News A board meeting is scheduled for May 27, 2026 to consider and approve a capital increase of Baowu Environmental Technology by Magang Limited using the equity assets of Baowu Water as consideration.Narrative Update • May 11
323: Research Upgrade And Revised Assumptions Will Support Higher Fair Value Estimate
Analysts have lifted their HK$ fair value estimate for Maanshan Iron & Steel from about HK$2.80 to roughly HK$3.00, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E following recent research upgrades. Analyst Commentary Bullish Takeaways Bullish analysts point to the recent research upgrade, including the move by Goldman Sachs, as reinforcing confidence that the HK$3.00 fair value estimate still aligns with their updated assumptions on discount rates and target P/E levels.Recent updates
Narrative Update • Jul 01
323: Upgraded Outlook And Higher Future P/E Will Support Share Returns
Analysts have raised their fair value estimate for Maanshan Iron & Steel to HK$2.20 from HK$1.91, citing updated assumptions on discount rates, revenue trends, profit margins, and a higher future P/E, in line with recent research upgrades. What’s in the News for Maanshan Iron & Steel Maanshan Iron & Steel has scheduled a board meeting for May 27, 2026, to review and approve a proposed capital increase of Baowu Environmental Technology by Magang Limited using the equity assets of Baowu Water it holds.Narrative Update • Jun 17
323: Recent Upgrade And Higher Margin Outlook Will Support Stronger Stock Price
Analysts have nudged their fair value estimate for Maanshan Iron & Steel stock from about HK$2.99 to around HK$3.01, citing updated assumptions on discount rates, profitability and future P/E that align with the recent upgrade highlighted in Street research. What's in the News for Maanshan Iron & Steel A board meeting is scheduled for May 27, 2026 to consider and approve a capital increase of Baowu Environmental Technology by Magang Limited using its equity assets in Baowu Water.Narrative Update • Jun 03
323: Recent Upgrade And Stronger Margins Will Support A More Optimistic Outlook
Analysts have trimmed their HK$ price target on Maanshan Iron & Steel by about HK$0.10, reflecting updated views on fair value, discount rates, revenue growth, profit margins and future P/E assumptions following recent Street research, including the latest upgrade from Goldman Sachs. What's in the News A board meeting is scheduled for May 27, 2026 to consider and approve a capital increase of Baowu Environmental Technology by Magang Limited using the equity assets of Baowu Water as consideration.Narrative Update • May 11
323: Research Upgrade And Revised Assumptions Will Support Higher Fair Value Estimate
Analysts have lifted their HK$ fair value estimate for Maanshan Iron & Steel from about HK$2.80 to roughly HK$3.00, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E following recent research upgrades. Analyst Commentary Bullish Takeaways Bullish analysts point to the recent research upgrade, including the move by Goldman Sachs, as reinforcing confidence that the HK$3.00 fair value estimate still aligns with their updated assumptions on discount rates and target P/E levels.Narrative Update • Apr 21
323: Upgraded Outlook And Higher P/E Will Frame A Cautiously Balanced Future
Analysts have raised their HK$ price target for Maanshan Iron & Steel, reflecting updated fair value estimates along with revised assumptions for discount rate, revenue growth, profit margin and future P/E that supported a recent upgrade in Street research. Analyst Commentary Bullish Takeaways Bullish analysts see the higher HK$ target as aligned with updated assumptions on fair value, suggesting they view current execution and earnings quality as supportive of a richer implied multiple.Narrative Update • Apr 06
323: Upgraded Rating And Tighter Margins Will Shape A Cautiously Balanced Outlook
Analysts have slightly adjusted their HK$ price target for Maanshan Iron & Steel, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions following recent research, including an upgrade by a major global bank. Analyst Commentary Goldman Sachs recently upgraded Maanshan Iron & Steel, which has shaped how other analysts think about the stock's valuation, earnings power, and execution risks.Analysis Article • Mar 29
The Maanshan Iron & Steel Company Limited (HKG:323) Yearly Results Are Out And Analysts Have Published New Forecasts
The yearly results for Maanshan Iron & Steel Company Limited ( HKG:323 ) were released last week, making it a good time...Narrative Update • Mar 23
323: Ongoing Losses And Improved Outlook Will Support A Balanced Future View
Analysts have nudged their price target on Maanshan Iron & Steel slightly higher, citing updated fair value estimates, a small change in discount rate assumptions and an adjusted future P/E outlook as key reasons for the revision in HK$ terms. What's in the News A board meeting is scheduled for March 25, 2026 to review and approve the audited 2025 annual results prepared under PRC Accounting Standards for Maanshan Iron & Steel and its subsidiaries (company announcement).Narrative Update • Mar 07
323: Persistent Losses And Higher Discount Rate Will Sustain Cautious Bearish Outlook
Analysts have adjusted their price target for Maanshan Iron & Steel slightly, citing updated assumptions around the discount rate, long term revenue growth, profit margin, and future P/E expectations. What's in the News Board meeting scheduled for March 25, 2026, to review and approve audited 2025 annual results prepared under PRC Accounting Standards for the group, covering the period from January 1, 2025 to December 31, 2025 (Key Developments).Narrative Update • Feb 21
323: Persistent Losses And Governance Changes Will Pressure Future Share Returns
Analysts have nudged their HK$ price target for Maanshan Iron & Steel slightly higher, pointing to small refinements in discount rate, revenue trajectory, margin outlook and future P/E assumptions, rather than any major shift in the story. What's in the News Issued earnings guidance for 2025, with total profit estimated at RMB 120 million to RMB 180 million, while net profit attributable to shareholders is expected to be a loss of RMB 250 million to RMB 190 million.Narrative Update • Feb 06
323: Governance Overhaul And Weaker Outlook Will Pressure Future Returns
Analysts have trimmed their fair value estimate for Maanshan Iron & Steel from RMB1.96 to about RMB1.91, pointing to softer expected revenue growth, slightly lower profit margins, a higher discount rate, and a higher future P/E multiple in their updated models. What's in the News Maanshan Iron & Steel approved amendments to its Articles of Association, signaling a refresh of its core governing documents (Key Developments).Narrative Update • Jan 23
323: Governance Changes And Auditor Switch Will Support A Cautious Steady Outlook
Analysts have nudged their price target on Maanshan Iron & Steel slightly higher, reflecting updated assumptions that include a marginally lower discount rate, a small adjustment to fair value, modest changes to revenue growth and profit margin, and a slightly higher future P/E estimate. What's in the News An extraordinary general meeting is scheduled for 24 December 2025 to vote on amendments to the Articles of Association and its appendices and on abolishing the supervisory committee, alongside a resolution on changing the accounting firm for 2025 (Key Developments).Analysis Article • Jan 19
Maanshan Iron & Steel Company Limited (HKG:323) Looks Inexpensive But Perhaps Not Attractive Enough
Maanshan Iron & Steel Company Limited's ( HKG:323 ) price-to-sales (or "P/S") ratio of 0.2x might make it look like a...Narrative Update • Jan 08
323: Governance Overhaul And Auditor Switch Will Shape A Steady Outlook
Analysts have slightly adjusted their fair value estimate for Maanshan Iron & Steel to about CNY 2.48 per share, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News A board meeting is scheduled for 24 December 2025 to review compliance with laws, regulations and the Articles of Association.Narrative Update • Dec 24
323: Governance Changes And Auditor Switch Will Shape A Steady Future Outlook
Analysts have raised their price target for Maanshan Iron & Steel slightly, citing a marginally lower discount rate and steady expectations for revenue growth, profit margins, and future valuation multiples as supporting factors. What's in the News A special and extraordinary shareholders meeting is scheduled for December 24, 2025, to vote on changing the accounting firm and revising the Articles of Association, including abolishing the supervisory committee (company announcement).Narrative Update • Dec 09
323: Governance Overhaul And Auditor Change Will Shape A Balanced Outlook
Analysts have nudged their price target on Maanshan Iron & Steel slightly higher to reflect modestly stronger forecast revenue growth and a marginally higher assumed future P/E multiple, partially offset by a small downgrade to long term profit margin expectations and a higher discount rate. What's in the News Upcoming special and extraordinary shareholders meeting scheduled for December 24, 2025, in Maanshan, Anhui, to deliberate key corporate matters including governance changes (Key Developments).Narrative Update • Nov 25
323: Auditor Switch Will Shape Outlook Amid Early Signs Of Margin Recovery
Analysts have raised their price target for Maanshan Iron & Steel from $2.32 to $2.48, reflecting improved outlooks for revenue growth and profit margin. What's in the News Reported production results for the first three quarters of 2025: 7,060,000 tonnes of long products; 7,220,000 tonnes of steel plates; 190,000 tonnes of wheels and axles; and 730,000 tonnes of steel billet (Company Announcement) Approved amendments to the Articles of Association and abolition of the supervisory committee, subject to shareholder approval at an extraordinary general meeting (Board Meeting) Decided to change accounting firms after Ernst & Young Hua Ming LLP was removed from a key audit institution list.Narrative Update • Nov 10
323: Revenue Projections Will Deteriorate Further Amid Auditor Transition Risk
Analysts have modestly maintained their price target for Maanshan Iron & Steel at $2.32, citing stable valuation despite a reduced revenue growth outlook and a higher discount rate. They also expect improved profit margins ahead.Narrative Update • Oct 27
Urbanization and Belt and Road Will Shape Steel Industry Outlook in 2025
Analysts have revised their price target for Maanshan Iron & Steel from $2.40 to $2.32. They cite moderate adjustments in growth assumptions and future profitability estimates.Analysis Article • Oct 13
Maanshan Iron & Steel Company Limited (HKG:323) Looks Inexpensive But Perhaps Not Attractive Enough
You may think that with a price-to-sales (or "P/S") ratio of 0.2x Maanshan Iron & Steel Company Limited ( HKG:323 ) is...Narrative Update • Sep 14
Urbanization And Belt And Road Will Drive Future Steel Demand
Maanshan Iron & Steel's consensus price target has risen to HK$2.40, supported by improved investor sentiment reflected in its higher future P/E and a modest uptick in net profit margin. What's in the News Approved resignation of Mr. Mao Zhanhong from multiple board positions.Narrative Update • Aug 31
Urbanization And Belt And Road Will Drive Future Steel Demand
The upward revision in Maanshan Iron & Steel’s consensus price target reflects improved revenue growth forecasts and an increase in the future P/E multiple, resulting in the price target rising from HK$2.04 to HK$2.12. What's in the News Board approved the resignation of Mr. Mao Zhanhong from his roles as director, vice chairman, and strategic and sustainable development committee member.Analysis Article • Aug 31
Maanshan Iron & Steel Company Limited (HKG:323) Just Released Its Half-Year Earnings: Here's What Analysts Think
It's been a good week for Maanshan Iron & Steel Company Limited ( HKG:323 ) shareholders, because the company has just...Analysis Article • Aug 05
Health Check: How Prudently Does Maanshan Iron & Steel (HKG:323) Use Debt?
SEHK:323 1 Year Share Price vs Fair Value Explore Maanshan Iron & Steel's Fair Values from the Community and select...New Narrative • Jul 19
Urbanization And Belt And Road Will Drive Future Steel Demand
Focus on higher-value steel products, green manufacturing, and digitalization is expected to boost margins, enhance pricing power, and support long-term profitability.Analysis Article • Jul 10
Getting In Cheap On Maanshan Iron & Steel Company Limited (HKG:323) Is Unlikely
With a median price-to-sales (or "P/S") ratio of close to 0.6x in the Metals and Mining industry in Hong Kong, you...Analysis Article • Apr 07
Benign Growth For Maanshan Iron & Steel Company Limited (HKG:323) Underpins Stock's 29% Plummet
Maanshan Iron & Steel Company Limited ( HKG:323 ) shareholders won't be pleased to see that the share price has had a...Analysis Article • Apr 01
Earnings Update: Here's Why Analysts Just Lifted Their Maanshan Iron & Steel Company Limited (HKG:323) Price Target To HK$1.80
Maanshan Iron & Steel Company Limited ( HKG:323 ) last week reported its latest yearly results, which makes it a good...Analysis Article • Mar 24
Is Maanshan Iron & Steel (HKG:323) Weighed On By Its Debt Load?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Analysis Article • Nov 04
Is Maanshan Iron & Steel (HKG:323) Using Too Much Debt?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Oct 07
Maanshan Iron & Steel Company Limited's (HKG:323) Shares Climb 62% But Its Business Is Yet to Catch Up
Maanshan Iron & Steel Company Limited ( HKG:323 ) shares have had a really impressive month, gaining 62% after a shaky...Analysis Article • Oct 07
Revenues Not Telling The Story For Maanshan Iron & Steel Company Limited (HKG:323) After Shares Rise 62%
Maanshan Iron & Steel Company Limited ( HKG:323 ) shares have had a really impressive month, gaining 62% after a shaky...Analysis Article • Jun 26
Maanshan Iron & Steel (HKG:323) Has Debt But No Earnings; Should You Worry?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Jan 09
Is Maanshan Iron & Steel (HKG:323) Using Too Much Debt?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Nov 02
Maanshan Iron & Steel Company Limited (HKG:323) Shares Could Be 21% Above Their Intrinsic Value Estimate
Key Insights The projected fair value for Maanshan Iron & Steel is HK$1.08 based on Dividend Discount Model Current...Analysis Article • Sep 05
Is Maanshan Iron & Steel (HKG:323) Using Debt In A Risky Way?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Jul 14
Calculating The Fair Value Of Maanshan Iron & Steel Company Limited (HKG:323)
Key Insights Maanshan Iron & Steel's estimated fair value is HK$1.51 based on Dividend Discount Model Current share...Analysis Article • May 18
Is Maanshan Iron & Steel (HKG:323) Using Debt Sensibly?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Analysis Article • Mar 27
Estimating The Intrinsic Value Of Maanshan Iron & Steel Company Limited (HKG:323)
Key Insights Using the Dividend Discount Model, Maanshan Iron & Steel fair value estimate is HK$1.50 Maanshan Iron...Analysis Article • Jan 20
Is Maanshan Iron & Steel (HKG:323) Weighed On By Its Debt Load?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Oct 19
Does Maanshan Iron & Steel (HKG:323) Have A Healthy Balance Sheet?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Sep 26
Maanshan Iron & Steel (HKG:323) Could Be At Risk Of Shrinking As A Company
If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? Businesses...Shareholder Returns
| 323 | HK Metals and Mining | HK Market | |
|---|---|---|---|
| 7D | 2.5% | 7.3% | 1.1% |
| 1Y | -12.7% | 22.3% | -3.0% |
Return vs Industry: 323 underperformed the Hong Kong Metals and Mining industry which returned 22.3% over the past year.
Return vs Market: 323 underperformed the Hong Kong Market which returned -3% over the past year.
Price Volatility
| 323 volatility | |
|---|---|
| 323 Average Weekly Movement | 5.8% |
| Metals and Mining Industry Average Movement | 8.3% |
| Market Average Movement | 7.5% |
| 10% most volatile stocks in HK Market | 16.6% |
| 10% least volatile stocks in HK Market | 3.5% |
Stable Share Price: 323 has not had significant price volatility in the past 3 months compared to the Hong Kong market.
Volatility Over Time: 323's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1953 | 16,780 | n/a | www.magang.com.hk |
Maanshan Iron & Steel Company Limited, together with its subsidiaries, manufactures and sells iron and steel products, and related by-products in Mainland China, Hong Kong, and internationally. It provides steel plates, including hot and cold-rolled thin plates, galvanized plates, coil-coating plates, and medium plates; section steel products, such as H-shaped steel and medium-shaped steel; high-speed wire rod and hot-rolled reinforcing steel products; and train wheels and wheel rims. The company also engages iron and steel smelting, steel rolling processing, Coke, coal tar, crude benzene, Ferric sulfate, and coke oven gas production sales, etc. It serves construction, automobile, bridge-building, machinery, petroleum transportation, home electrical appliances, and medium and high-grade production of automobile parts, and high-grade light industries; packaging and utensil manufacturing, steel structures, construction of petroleum drilling platforms and railways, production of robust materials, pre-stressing strand steel wires and spring steel wires; railway transport, port machinery, petrochemical, and aerospace industries.
Maanshan Iron & Steel Company Limited Fundamentals Summary
| 323 fundamental statistics | |
|---|---|
| Market cap | HK$20.37b |
| Earnings (TTM) | -HK$25.85m |
| Revenue (TTM) | HK$87.65b |
0.1x
P/S Ratio-491.5x
P/E RatioIs 323 overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| 323 income statement (TTM) | |
|---|---|
| Revenue | CN¥75.82b |
| Cost of Revenue | CN¥72.53b |
| Gross Profit | CN¥3.28b |
| Other Expenses | CN¥3.31b |
| Earnings | -CN¥22.36m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
Aug 29, 2026
| Earnings per share (EPS) | -0.0029 |
| Gross Margin | 4.33% |
| Net Profit Margin | -0.03% |
| Debt/Equity Ratio | 42.3% |
How did 323 perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/05 21:51 |
| End of Day Share Price | 2026/07/03 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Maanshan Iron & Steel Company Limited is covered by 37 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ephrem Ravi | Barclays |
| Bik Yun Lau | Bernstein |
| Miriam Chan | BofA Global Research |