"Hong Kong Stock Exchange" HUILI RES expects mid-term net profit to decrease significantly to RMB 15 million to 20 million

HUILI RES (01303.HK) issued a profit warning, expecting a net profit of between RMB 15 million and RMB 20 million for the six months ending in June, compared to RMB 118 million in the same period last year. The significant decrease in net profit is mainly due to the decline in coal prices and a substantial drop in the gross profit margin of the coal trading business, resulting in gross profit decreasing from RMB 130 million to approximately RMB 53 million; no one-time pricing gains were recorded during the period; and foreign exchange losses were also incurred