Beijing Shougang Co Ltd
Beijing Shougang Co Ltd is a materials sector company engaged in metals and mining activities, generating revenue through industrial production and sales.
Business. Beijing Shougang Co Ltd is a materials sector company engaged in metals and mining activities, generating revenue through industrial production and sales.
Analyst recommendations
1 analysts · consensus BuyAt a glance
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- Macro
- Rate decisionFederal Reserve rate decision (press conf.)2026-07-29 · US
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Beijing Shougang Co Ltd is a materials sector company engaged in metals and mining activities, generating revenue through industrial production and sales.
Beijing Shougang Co Ltd maintains a capital structure characterized by significant leverage and constrained liquidity. The company reports total assets of 124.9 billion CNY against total liabilities of 74.6 billion CNY, resulting in a debt-to-equity ratio of 0.72. Long-term debt stands at 36.4 billion CNY, while cash and equivalents are minimal at 6.6 million CNY, leading to a negative net cash position. The current ratio is 0.54, indicating that current liabilities exceed current assets, which aligns with the medium liquidity risk assessment. Despite the tight liquidity profile, the company generated operating cash flow of 8.1 billion CNY and free cash flow of 7.9 billion CNY, demonstrating strong cash conversion from operations despite the balance sheet constraints.
Profitability metrics reveal thin margins and low returns on capital. Revenue for the latest period was 102.9 billion CNY, with gross profit of 4.6 billion CNY, implying a gross margin of approximately 4.4%. Operating income was 1.3 billion CNY, and net income was 1.0 billion CNY. Return on equity (ROE) is 1.65%, and return on assets (ROA) is 0.67%, both of which are low, suggesting inefficient use of capital relative to the asset base. The price-to-earnings ratio is 33.48, which appears elevated relative to the low ROE, while the price-to-book ratio is 0.55, indicating the market values the company at a discount to its book value. The EV/EBITDA ratio is 58.17, further highlighting the valuation disconnect or low earnings power relative to enterprise value.
- The company generates strong operating cash flow of 8.1 billion CNY but faces liquidity constraints with a current ratio of 0.54 and negative net cash.
- Profitability is weak with an ROE of 1.65% and ROA of 0.67%, despite a revenue base of 102.9 billion CNY.
- Valuation presents a mixed picture with a low P/B of 0.55 but a high P/E of 33.48 and EV/EBITDA of 58.17.
- Analyst sentiment is overwhelmingly positive with a mean recommendation of 1.00 (Strong Buy), diverging from current fundamental metrics.
- Dilution risk is low as basic and diluted share counts are identical, but liquidity risk is medium due to high leverage and low cash.
Bull / Bear case
Generated · model-assistedFree cash flow surged 12.2% year-over-year to CNY 7.87 billion, demonstrating strong cash generation capabilities.
Cash conversion ratio of 7.63 ranks best-in-class among 2,652 peers, indicating superior operational efficiency.
Long-term debt decreased to CNY 36.4 billion, reducing leverage and improving the company's balance sheet health.
Net income jumped 107.7% year-over-year to CNY 995.6 million, signaling a significant turnaround in profitability.
Capex to revenue ratio of -0.0022 is above the 75th percentile, suggesting lower capital intensity than peers.
Operating margin of 1.05% falls in the bottom quartile of 2,509 peers, indicating weak pricing power.
The company faces high credit risk, posing significant potential for financial distress or default events.
Net margin of 0.79% is in the bottom quartile, highlighting severe profitability challenges relative to competitors.
In focus — financials by report
Revenue ¥108.46B, −4,7% YoY; Operating income −31,0% YoY.
- ▍Revenue ¥108.46B, −4,7% YoY
- ▍Operating income −31,0% YoY
- ▍Net income −27,8% YoY
- ▍Free cash flow +28,6% YoY
- ▍Net margin 0.4%
Revenue ¥113.76B, −3,7% YoY; Operating income −49,8% YoY.
- ▍Revenue ¥113.76B, −3,7% YoY
- ▍Operating income −49,8% YoY
- ▍Net income −41,0% YoY
- ▍Free cash flow +30,0% YoY
- ▍Net margin 0.6%
Revenue ¥118.14B, −11,2% YoY; Operating income −81,9% YoY.
- ▍Revenue ¥118.14B, −11,2% YoY
- ▍Operating income −81,9% YoY
- ▍Net income −84,2% YoY
- ▍Free cash flow −56,3% YoY
- ▍Net margin 1.0%
Revenue ¥132.98B; Operating income ¥9.91B.
- ▍Revenue ¥132.98B
- ▍Operating income ¥9.91B
- ▍Net margin 5.3%
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Risk factors
- Net cash is negative after subtracting total debt.
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Physical assets
9 tracked| Asset | Type | Commodity | Country | Role |
|---|---|---|---|---|
| Caofeidian Works power station | Power | Coal | China | Parent |
| Caofeidian Works power station | Power | Power | China | Parent |
| Caofeidian Works power station | Power | Coal | China | Parent |
| Caofeidian Works power station | Power | Power | China | Parent |
| Shougang Jingtang United Iron & Steel Co., Ltd. power project | Power | Power | China | Parent |
| Shougang Jingtang United Iron & Steel Co., Ltd. power project | Power | Oil & Gas | China | Parent |
| Shougang Jingtang United Iron and Steel Co Ltd | Steel plant | Steel | China | Parent |
| Shougang Qian an Iron and Steel Co Ltd | Steel plant | Steel | China | Registered owner |
| Shougang Qian an Iron and Steel Co Ltd | Steel plant | Steel | China | Parent |
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- Beijing Shougang Co Ltd Market data — financials · 2026-07-07
- Beijing Shougang Co Ltd Market data — analyst estimates · 2026-07-07
- Beijing Shougang Co Ltd Market data — ESG · 2026-07-07