HK Stock Market Move | Metallurgical Corporation of China (01618) falls more than 3% as the company's third-quarter performance continues to be under pressure, with a slowdown in contract revenue conversion rate.

Metallurgical Corporation of China (01618) fell more than 3%, and as of the time of writing, it has fallen by 2.58% to 2.27 Hong Kong dollars, with a turnover of 415.86 million Hong Kong dollars. In terms of news, recently, Metallurgical Corporation of China released its performance for the first three quarters, achieving operating income of 335.94 billion yuan, a year-on-year decrease of 18.79%; net profit attributable to shareholders of listed companies was 3.97 billion yuan, a year-on-year decrease of 41.88%. Basic earnings per share was 0.13 yuan. The company's cumulative newly signed contracts for the first three quarters of 2025 amounted to 760.67 billion yuan, a decrease of 14.7% over the same period last year. Among them, the newly signed overseas contract amount was 66.9 billion yuan, an increase of 10.1% over the same period last year. Tianfeng pointed out that the decline in performance of Metallurgical Corporation of China since the beginning of the year is mainly due to external factors such as the continuous decline in demand in the steel industry, weak growth in the construction industry, and deep adjustments in the real estate industry, combined with phase-specific factors such as the business structure adjustment brought about by the company's own transformation and upgrading. The year-on-year decrease in carried-over incomplete contracts and newly signed contract amounts, which has led to a slowdown in contract revenue conversion rates.