Hanking Gold (03788) has released its interim results for the 2026 fiscal year, revealing a loss attributable to shareholders of approximately RMB 52.02 million, a sharp reversal from the profit recorded in the same period last year.
Revenue for the period came in at around RMB 912 million, marking a decline of 35.13% year-over-year. The company also reported a loss per share of RMB 2.4 cents.
The company attributed the revenue slump primarily to a reduction in high-purity iron sales volume, which fell by 189,000 tonnes compared to the corresponding period last year. Although the average selling price of high-purity iron increased by RMB 46 per tonne year-on-year, the overall impact led to a revenue decrease of approximately RMB 493 million.
During the first half of 2026, the company's iron concentrate production totalled 368,000 tonnes, down 28.96% year-over-year, achieving just 81.43% of its half-year budget. Sales volume also declined by 30.13% to 364,000 tonnes. The production shortfall was mainly due to land approval procedures taking longer than expected, compounded by a reduced production schedule compared to the previous year's first half.
Management noted that the land approval issues were resolved in early May. During the period of constrained production, the company completed its annual maintenance for both mining and ore processing equipment ahead of schedule. A revised production plan has since been implemented to accelerate output, and the full-year iron concentrate budget target has been adjusted to 830,000 tonnes.
Comments