Mongolia Energy(00276.HK)： Expects Sharp Drop in Annual Gross Profit to No More Than HK$395 Million; Coking Coal Prices Fall ~24.9%
NewTimeSpace News: Mongolia Energy Corporation Limited (00276.HK) announced that based on preliminary assessment, the Group expects its gross profit for the financial year ended March 31, 2026 to decline significantly to no more than HK$395 million, compared with approximately HK$851 million in the previous year. The main drivers are weak demand for premium coking coal (with mid-grade coking coal becoming customers' preferred choice), an approximately 24.9% year-on-year drop in the average selling price of coking concentrate, and a 6.5% decrease in sales volume.
NewTimeSpace News: Mongolia Energy Corporation Limited issued an inside information announcement on June 3, 2026, disclosing that the Group expects to record a decline in total revenue for the financial year ended March 31, 2026. Its gross profit will plummet to no more than HK$395 million from HK$851.2 million in the prior financial year.
The sharp contraction in gross profit is primarily attributable to sluggish demand for premium coking coal, as mid-grade coking coal has emerged as the priority choice for customers, dragging down actual sales revenue during the period. In addition, sales volume decreased by approximately 6.5%, and the average selling price of coking concentrate (net of sales tax) fell by approximately 24.9% year-on-year compared with the previous year.
Excluding the potential impact of fair value changes in the derivative component of convertible notes, gains or losses arising from the recognition or derecognition of convertible notes and loan notes, and impairment charges on mining and financial assets, the pre-tax net loss is expected to widen to no more than HK$362 million, versus HK$172.5 million in the prior year.
The information contained in this announcement constitutes only a preliminary assessment made by the Board based on the Group's existing data, and has not been audited by independent auditors or reviewed by the audit committee. The full-year results announcement is scheduled to be published at the end of June 2026.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
Tags：
