MMG's stock plummeted 6.30% during intraday trading, reflecting investor concerns following the release of its annual results.

The company reported strong annual revenue growth of 39% year-on-year to $6.218 billion and a net profit surge of 214.64% to $509 million. However, Citigroup noted that MMG's second-half 2025 profit was $169 million, down 50% from the first half, primarily due to a significant impairment loss recorded during the period.

In the second half of 2025, MMG recognized a $290 million impairment loss for its Kinsevere operation, attributed to unstable power supply, a suspension of cobalt production, and fiscal uncertainties, which dampened investor sentiment and contributed to the stock's decline.