SOUTHGOBI (01878) announced its financial results for the first quarter of 2026. During the period, the group recorded revenue of $169 million, representing a year-on-year increase of 37.84%. The net loss attributable to the company's equity holders was $8.036 million, a decrease of 69.33% compared to the same period last year. Basic and diluted loss per share was $0.027.

For Q1 2026, the company's average realized selling price was $54.4 per tonne, compared to $59.5 per tonne in Q1 2025. The decline in the average realized price was primarily due to ongoing uncertainties in the Chinese coal market and a cautious stance among buyers. Consequently, the company adjusted its sales strategy and pricing to maintain sales volume.

The product mix for Q1 2026 comprised approximately 39% premium semi-soft coking coal, 35% standard semi-soft coking coal, 20% premium thermal coal, and 6% coal by-products. This compares to the Q1 2025 mix of about 6% premium semi-soft coking coal, 56% standard semi-soft coking coal, 31% premium thermal coal, 6% standard thermal coal, and 1% coal by-products.

The unit cost of sales for products sold in Q1 2026 was $51.5 per tonne, down from $64.9 per tonne in Q1 2025. This reduction was attributed to economies of scale and improved cost control within the coal production process during the period.

The company reported zero lost-time injuries for both the first quarter of 2026 and the first quarter of 2025.