MCC Signs 12% Fewer New Contracts from January to October
Date: Nov 14, 2024 | Time: 16:43 GMT+5:30
Stock Symbol: 601618 | Current Stock Performance: -0.86%
The Metallurgical Corporation of China (MCC) announced that it signed approximately 957.8 billion yuan worth of new contracts from January to October, marking a decline of nearly 12% compared to the previous year. This update, disclosed in a Thursday bourse filing, sheds light on the company's recent performance amid challenging economic conditions.
Interestingly, MCC saw a substantial increase in overseas contracts, with the value of newly signed contracts abroad rising by 91% year-over-year to 66.32 billion yuan. This increase indicates MCC's expanding presence in international markets despite an overall decline in domestic contract value.
In October alone, MCC signed three significant contracts, each valued at over 1 billion yuan, showcasing its continued capacity to secure large-scale projects. However, the company's Hong Kong-listed shares ended the day nearly 3% lower, reflecting investor sentiment toward its recent financial performance.
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