China Kings Resources Group Co.,Ltd. (SSE: 603505) has released its semi-annual report for 2026, with operating revenue reaching RMB 1.895 billion during the reporting period, a year-on-year increase of 9.80%. However, net profit attributable to shareholders of the listed company stood at RMB 89.73 million, marking a decline of 28.87% compared to the same period last year.
After deducting non-recurring gains and losses, the net profit attributable to shareholders was RMB 97.69 million, down 23.91% year-on-year, with basic earnings per share of RMB 0.11. During the reporting period, due to factors related to the shareholders of the joint venture company, the fluorite powder resale business from Baogang Jinshi to Jin'ebo could not be carried out, meaning all fluorite powder sold by Baogang Jinshi to Jin'ebo was instead used internally.
In the corresponding period of the previous year, Jin'ebo had sold approximately 78,000 tons of Baogang Jinshi fluorite powder externally, contributing around RMB 35 million to net profit attributable to the parent company. As of the end of this reporting period, Jin'ebo's fluorochemical inventory held approximately 320,000 tons of fluorite powder.
During the reporting period, the company faced significant challenges in production safety. Following requirements from Zhejiang Province's emergency management authorities, all underground mines across the province were temporarily suspended. Consequently, the company's single fluorite mines located in Zhejiang Province ceased production entirely from late May 2026, causing output from these mines to drop by 23.72% compared to 185,900 tons in the same period last year.
On the sales front, although sales volume remained roughly flat year-on-year thanks to the sale of existing fluorite inventory, the average selling price of fluorite concentrate fell by approximately RMB 209 per ton compared to the previous year. Combined with increased costs such as shutdown losses resulting from the production halt, net profit from the single mines was still adversely affected during the reporting period.
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