CHINA QINFA (00866) announced that the group expects to record an after-tax loss not exceeding RMB 168 million for the six months ending June 30, 2025, compared to an after-tax profit of RMB 60.8 million for the corresponding period ended June 30, 2024.

The profit and loss attributable to discontinued operations and continuing operations during the period are as follows: Discontinued operations recorded an after-tax loss not exceeding RMB 200 million, while continuing operations achieved an after-tax profit not exceeding RMB 32 million.

The increase in the group's after-tax loss was primarily due to the combined impact of several factors: average coal selling prices during the period declined compared to the same period in 2024; raw coal production from discontinued operations decreased from 3.67 million tons for the six months ended June 30, 2024, to 2.07 million tons during the current period; and raw coal production from continuing operations increased from 760,000 tons for the six months ended June 30, 2024, to 2.05 million tons during the current period.

The group's after-tax loss was also attributed to the depreciation of the Indonesian Rupiah against the Renminbi and US Dollar, which resulted in foreign exchange losses of approximately RMB 70.8 million from settlement and translation of monetary items.