PER ENERGY issued a profit warning, expecting a net profit after tax of approximately HKD 6 million to HKD 100,000 for the first half of the year, a year-on-year decrease of approximately 97.6% to 99.9%
PER ENERGY expects that its after-tax net profit in the first half of 2025 will be approximately HKD 6 million to HKD 100,000, a year-on-year decrease of about 97.6% to 99.9%. The main reasons include a significant drop in the market price of premium coal leading to a decrease in coal selling prices, the complex geological conditions at the Hongguo Coal Mine and the Baogushan Coal Mine affecting operational progress and coal mine utilization rates, which increased related costs. In addition, compliance-related costs such as safety management costs, land compensation, and the development of compliant waste landfills continue to rise
According to the Zhitong Finance APP, Jiutai Bangda Energy (02798) announced that the group expects to achieve a post-tax net profit of approximately RMB 6 million to 10 million in the first half of 2025, a year-on-year decrease of about 97.6% to 99.9%.
The announcement stated that the expected decrease in net profit is mainly attributed to the following factors: during the relevant period, the market price of premium coal plummeted, significantly lowering coal prices, which directly compressed the group's gross profit margin; the geological conditions of the underground working faces at Hongguo Coal Mine and Baogushan Coal Mine are complex, slowing down operational progress, reducing coal mine utilization rates, and increasing related costs for preparatory work and waste disposal in the underground working faces; and despite the implementation of operational efficiency measures, compliance-related costs continue to rise due to the surge in safety management costs, land compensation for expansion, and the development of compliant waste landfills
