Minmetals Development announced on the evening of September 30 that its subsidiary Minmetals Logistics Group's affiliate Minmetals Logistics Guangdong received government subsidies of 3.564 million yuan. The subsidies are related to income and account for 18.66% of the company's latest audited net profit attributable to shareholders of the listed company. The company said the subsidies are expected to increase 2026 income by 3.564 million yuan, though the figure is unaudited and subject to the final annual audit. Minmetals Development is mainly engaged in resource trading, metals trading, and supply chain services. In the first half of 2026, the company's operating revenue was 23.936 billion yuan, down 11.28% year on year; net profit attributable to the parent was 5.8457 million yuan, down 94.57% year on year; net profit attributable to the parent excluding non-recurring items widened from a loss of 11.77 million yuan in the same period last year to a loss of 16.48 million yuan; and net operating cash flow was negative 1.837 billion yuan. The company said that due to weak demand for steel used in downstream engineering construction and low, fluctuating prices of steel and metallurgical raw materials, operating revenue declined year on year. Its asset-liability ratio was 69.77%, down 5.82 percentage points year on year.
Minmetals Development Co LtdSubsidiary received 3.564 million yuan in government subsidies, expected to boost 2026 income and equal to 18.66% of latest attributable net profit.
