SouthGobi Resources Ltd. (SouthGobi) has warned shareholders that preliminary, unaudited management accounts indicate a net loss attributable to equity holders of between US$151.90 million and US$185.60 million for the year ended 31 December 2025 (FY2025). The company posted a net profit of US$92.50 million in FY2024.

Management attributes the expected swing to three principal factors: 1. A decline in average realised selling prices during FY2025. 2. A shift in product mix toward a higher proportion of processed coal, which carries higher production costs. 3. Impairment losses totaling approximately US$119.30 million, comprising US$77.30 million on coal stockpiles and US$42.00 million on cash-generating units.

The FY2025 financial statements remain subject to audit, and final results are scheduled for release on Friday, 27 March 2026. SouthGobi advises investors to exercise caution when dealing in the company’s shares.