IRC (01029.HK) Issues Profit Warning: FY2025 Loss Projected at US$125–135 Million on US$153 Million K&S Impairment

Bulletin Express

Mar 19

IRC Limited (IRC, stock code 01029) alerted shareholders to a substantial widening of its net loss for the year ended 31 December 2025. Based on preliminary, unaudited management accounts, management projects a loss attributable to owners of US$125.00 million–US$135.00 million, versus the US$20.50 million loss recorded in 2024.

The primary driver is a US$153.00 million non-cash, non-recurring impairment provision against the K&S mine. The impairment reflects the appreciation of the Russian rouble, which has raised forecast operating costs when translated into US dollars.

No impairment charge was booked in 2024, underscoring the magnitude of the FY2025 provision. Management emphasized that the impairment affects earnings but not cash flow.

The figures are subject to audit review, and the final annual results are scheduled for release on 25 March 2026. Shareholders and investors are advised to exercise caution when dealing in IRC shares until the audited results are published.

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Based on preliminary, unaudited management accounts, management projects a loss attributable to owners of US$125.00 million–US$135.00 million, versus the US$20.50 million loss recorded in 2024.</p>\n<p>The primary driver is a US$153.00 million non-cash, non-recurring impairment provision against the K&S mine. The impairment reflects the appreciation of the Russian rouble, which has raised forecast operating costs when translated into US dollars.</p>\n<p>No impairment charge was booked in 2024, underscoring the magnitude of the FY2025 provision. Management emphasized that the impairment affects earnings but not cash flow.</p>\n<p>The figures are subject to audit review, and the final annual results are scheduled for release on 25 March 2026. Shareholders and investors are advised to exercise caution when dealing in IRC shares until the audited results are published.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IRC (01029.HK) Issues Profit Warning: FY2025 Loss Projected at US$125–135 Million on US$153 Million K&S Impairment</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIRC (01029.HK) Issues Profit Warning: FY2025 Loss Projected at US$125–135 Million on US$153 Million K&S Impairment\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1053168898\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Bulletin Express </p>\n<p class=\"h-time\">2026-03-19 22:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>IRC Limited (IRC, stock code 01029) alerted shareholders to a substantial widening of its net loss for the year ended 31 December 2025. Based on preliminary, unaudited management accounts, management projects a loss attributable to owners of US$125.00 million–US$135.00 million, versus the US$20.50 million loss recorded in 2024.</p>\n<p>The primary driver is a US$153.00 million non-cash, non-recurring impairment provision against the K&S mine. The impairment reflects the appreciation of the Russian rouble, which has raised forecast operating costs when translated into US dollars.</p>\n<p>No impairment charge was booked in 2024, underscoring the magnitude of the FY2025 provision. Management emphasized that the impairment affects earnings but not cash flow.</p>\n<p>The figures are subject to audit review, and the final annual results are scheduled for release on 25 March 2026. Shareholders and investors are advised to exercise caution when dealing in IRC shares until the audited results are published.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01029","symbol_name":"铁货","start_time":0,"source_url":"","article_id":"1121796595","we_media_id":"1053168898","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1121796595","pubTimestamp":1773928850,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Bulletin Express","introduction":"Full Coverage of HK & US Stock Announcements","home_visible":1,"id":"1053168898","head_image":"https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e"},"summary":"IRC Limited (IRC, stock code 01029) alerted shareholders to a substantial widening of its net loss for the year ended 31 December 2025. Based on preliminary, unaudited management accounts, management...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"01029":"铁货"},"translate_title":"铁江现货(01029.HK)发盈警：2025财年预计亏损1.25-1.35亿美元，K&S减值1.53亿美元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01029":1},"content_text":"IRC Limited (IRC, stock code 01029) alerted shareholders to a substantial widening of its net loss for the year ended 31 December 2025. Based on preliminary, unaudited management accounts, management projects a loss attributable to owners of US$125.00 million–US$135.00 million, versus the US$20.50 million loss recorded in 2024.\nThe primary driver is a US$153.00 million non-cash, non-recurring impairment provision against the K&S mine. 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