Shougang Resources (00639) has announced that the group expects to record a comprehensive profit attributable to its owners for the year ending December 31, 2025, in the range of approximately HK$600 million to HK$700 million. This represents a decrease of approximately 53% to 60% compared to the approximately HK$1.494 billion recorded for the year ended December 31, 2024. The decline is primarily attributed to a year-on-year decrease of about 36% in the average realized selling price of the group's primary clean coking coal product during the current year. The lower selling price is mainly due to a looser supply-demand dynamic in the domestic coal market in 2025, leading to weaker coal prices and causing a significant year-on-year drop of approximately 30% in the market price for the group's primary clean coking coal product, which consequently dragged down the realized selling price. Furthermore, as mentioned in the company's 2025 interim report, the group has fully transitioned to mining from the lower coal seam since July 2024, resulting in a change in coal quality. The production of higher-priced, low-sulfur clean coking coal has ceased, further impacting the overall realized selling price of the group's primary clean coking coal product for the current year. In response to coal market price fluctuations, the group has proactively implemented measures to continuously enhance cost control and labor productivity while ensuring safe production, aiming to mitigate potential impacts on profitability. Currently, the market price for the group's primary clean coking coal product at the loading port has recovered from a low of approximately RMB 968 per tonne in June 2025 to approximately RMB 1,318 per tonne, an increase of about RMB 350 per tonne, or roughly 36%, from the June low. Compared to the average market price of approximately RMB 1,237 per tonne in 2025, the current price has also increased by about RMB 81 per tonne, a rise of approximately 7%. The group anticipates that the current trend in clean coking coal market prices may provide support for its future financial performance.