AOWEI HOLDING issues a profit warning, expecting a loss attributable to equity holders of the company of no more than approximately 90 million yuan in the first half of the year
AOWEI HOLDING expects to record a loss attributable to equity holders of no more than RMB 90 million in the first half of 2025, an increase from the loss of RMB 50.6 million in the same period of 2024. The loss is mainly due to the depletion of the mineable portion of its subsidiary Jiheng Mining's open-pit iron ore and the suspension of mining, as well as a decline in the selling price of iron concentrate leading to a decrease in gross margin
According to the Zhitong Finance APP, AOWEI HOLDING (01370) announced that it expects the group to incur a loss attributable to equity holders of the company of no more than approximately RMB 90 million in the first half of 2025 (loss of RMB 50.6 million in the same period of 2024). The group's loss during the reporting period is mainly attributed to the fact that its subsidiary, Laiyuan Jiheng Mining Co., Ltd. (Jiheng Mining), has basically exhausted the extractable portion of its open-pit iron ore mine and has suspended mining; as well as the decline in the selling price of iron concentrate leading to a decrease in gross profit margin
