---
title: "Maanshan Iron & Steel Reports Bankruptcy of Key Energy Subsidiary of Investee"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291659801.md"
description: "Maanshan Iron & Steel announced that Xinyang Steel Jingang Energy, a subsidiary of its investee Henan Jinma Energy, has entered bankruptcy liquidation. The entity ceased operations and reported significant losses. Jinma Energy had already impaired the investment and stopped consolidation. It is pursuing RMB1.896 billion in loan recovery through the bankruptcy process, aiming to limit financial impact on Maanshan Iron & Steel."
datetime: "2026-07-03T11:08:29.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291659801.md)
  - [en](https://longbridge.com/en/news/291659801.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291659801.md)
generator: "portal-rs"
---

# Maanshan Iron & Steel Reports Bankruptcy of Key Energy Subsidiary of Investee

Maanshan Iron & Steel Co ( (HK:0323) ) has issued an announcement.

Maanshan Iron & Steel has disclosed that Xinyang Steel Jingang Energy, a 70%-owned subsidiary of its investee Henan Jinma Energy, has been placed into bankruptcy liquidation by the People’s Court of Pingqiao District in Henan. The entity, engaged in coking, coal product sales and thermal power production, is insolvent, has halted operations, and reported a substantial net loss for the first half of 2026, prompting the court to accept creditors’ petitions and appoint a bankruptcy administrator.

Jinma Energy had already fully provided for impairment on its equity investment in Xinyang Jingang and stopped consolidating the subsidiary as of 30 June 2026. It is now pursuing recovery of approximately RMB1.896 billion in loans, largely secured against pledged assets, and plans to file claims in the bankruptcy process, limiting incremental financial impact on Maanshan Iron & Steel while underscoring credit and operational risks in its energy-related portfolio.

The most recent analyst rating on (HK:0323) stock is a Hold  
 with a HK$2.20 price target.  
 To see the full list of analyst forecasts on Maanshan Iron & Steel Co stock,  
 see the HK:0323 Stock Forecast page. 

**More about Maanshan Iron & Steel Co**

Maanshan Iron & Steel Company Limited is a Chinese steel producer listed in Hong Kong, with operations spanning steel manufacturing and related energy investments. The company holds a 26.89% equity interest in Henan Jinma Energy Company Limited, which in turn owns controlling stakes in energy and coking-related subsidiaries supporting industrial and metallurgical operations.

**Average Trading Volume:** 10,429,256

**Technical Sentiment Signal:** Strong Sell

**Current Market Cap:** HK$20.05B

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**