MCC reports half-year profit decline, asset impairments hit $3.6 bn

Metallurgical Corporation of China (MCC) reported a 20.52% decrease in operating revenue to 237,532,712 thousand yuan and a 7.08% decrease in total profit to 5,279,149 thousand yuan for the first half of 2025. Net profit attributable to shareholders also fell by 25.31% to 3,099,278 thousand yuan. The company’s Board of Directors approved the 2025 half-year report and interim performance announcement on August 29, 2025.

The Board also approved the impairment of assets for the first half of 2025, totaling 3.606 billion yuan. This includes 1.905 billion yuan for accounts receivable and contract assets, 673 million yuan for inventory, and 48 million yuan for other non-current assets. These impairments are expected to reduce the company's total profit by 3.606 billion yuan.

Additionally, MCC announced the continued risk assessment of China Minmetals Corporation Finance Co., Ltd., confirming the finance company's valid operating licenses, sound internal controls, and compliance with asset-liability ratios. Related-party transactions, including deposits and loans, were deemed controllable. The company will also hold a half-year performance briefing on September 8, 2025, from 16:00 to 17:00, via network interaction.