CITIC RESOURCES released its interim results, with a profit attributable to shareholders of HKD 152 million, a year-on-year decrease of 57%
CITIC RESOURCES released its interim results for the period ending June 30, 2025, with revenue of HKD 9.382 billion, an increase of 137.9% year-on-year; profit attributable to shareholders of HKD 152 million, a decrease of 57% year-on-year; and earnings per share of HKD 0.0193. The decrease in profit was mainly due to the decline in crude oil and coal prices, rising raw material costs, the loss of equity in Alumina Limited, and a significant decrease in profits from joint ventures
According to the Zhitong Finance APP, CITIC RESOURCES (01205) announced its interim results for the six months ending June 30, 2025, reporting revenue of HKD 9.382 billion, an increase of 137.9% year-on-year; the profit attributable to ordinary shareholders was HKD 152 million, a decrease of 57% year-on-year; earnings per share were HKD 0.0193.
The announcement stated that the decrease in profit was mainly due to the following factors: the average selling prices of crude oil and coal sold by the group during this period significantly decreased compared to the same period last year; the cost of raw materials, especially alumina used in the production of the Portland Aluminium Smelter, significantly increased compared to the same period last year; the group's profit share from an associate company significantly decreased due to the group no longer holding any equity interest in Alumina Limited since July 18, 2024; and the profit share from a joint venture decreased significantly by approximately HKD 118 million, a decrease of about 81.2% compared to the same period last year, due to the decline in crude oil prices during this period
