Shougang Fushan Resources Group Limited reported a strong set of interim results for the six months ended 30 June 2026, driven by firmer coking-coal prices, higher self-produced sales volumes and expanding trading activity.

Revenue climbed 54.3% year on year to HK$3.24 billion, supported by a 26% increase in sales of self-produced clean coking coal and a 16% rise in the average realised selling price to RMB1,237 per tonne. Trading revenue—largely coal—accounted for 23% of the top line.

Gross profit advanced 74.8% to HK$1.12 billion. Group gross margin widened to 34.6% from 30.5%; excluding trading, adjusted gross margin improved to 44.0% from 40.0%. Unit production cost for raw coking coal rose 17% to RMB385 per tonne, mainly on higher resources tax and labour expenses, while processing cost for clean coal increased 7% to RMB47 per tonne.

Net profit grew 55.6% to HK$0.75 billion, and profit attributable to shareholders increased 45.8% to HK$0.59 billion, translating into basic earnings of HK11.56 cents per share. EBITDA rose 44.1% to HK$1.35 billion.

Operating cash flow reached HK$1.22 billion, helping lift cash and time deposits to HK$9.05 billion at period-end. The balance sheet remained debt-free; the current ratio stood at 3.78 times and equity per share was unchanged at HK$3.23.

The board declared an interim dividend of HK10 cents per share, up from HK6 cents a year earlier, with payment slated for 5 November 2026 to shareholders on record as of 21 September 2026.

Operationally, raw coking-coal output from the group’s three Shanxi mines increased 6% to 2.79 million tonnes, while clean coking-coal production rose 27% to 1.95 million tonnes. Labour productivity improved 12% to 691 tonnes of raw coal per worker following efficiency initiatives that also led to HK$96.78 million of one-off redundancy costs booked under other operating expenses.

Capital commitments totalled HK$0.75 billion, including HK$0.52 billion for the purchase of office units in Beijing’s Shougang Park and HK$0.17 billion for property, plant and equipment. No borrowings or material contingent liabilities were reported.

Management expects the coking-coal market to remain supported in the second half as domestic mine safety inspections constrain supply and infrastructure spending underpins demand, while noting potential price volatility tied to macro and policy developments. The group plans to maintain disciplined cost control, prioritise safety, advance intelligent-mine construction and safeguard cash flow.