SHOUGANG RES (00639) released its annual results for the period ended December 31, 2025. The group recorded revenue of HK$5.056 billion, a decrease of 2% compared to the previous year. Profit attributable to owners of the company was HK$632 million, down 58% year-on-year. Basic earnings per share were HK12.42 cents, and a final dividend of HK6 cents per share is proposed.

For the year ended December 31, 2025, the group's production of raw coking coal was approximately 5.25 million tonnes (2024: approximately 4.96 million tonnes), an increase of 6% year-on-year. Production of clean coking coal was approximately 3.15 million tonnes (2024: approximately 3.16 million tonnes), a slight decrease of 0.3% compared to the previous year.

Mining operations at the three mines proceeded as planned during the review year. As disclosed in the company's 2024 annual report, the Xingwu Coal Mine completed the production transition between its upper and lower coal seam groups in the first half of 2024. During this transition period, the Xingwu Coal Mine was temporarily suspended in the first half of 2024 and resumed normal production in mid-July 2024. Consequently, the increased production of raw coking coal from the Xingwu Coal Mine during the review year contributed to the overall increase in the group's raw coking coal output.

During the review year, the clean coking coal recovery rate decreased year-on-year due to factors including changes in coal quality and geological structure. Although raw coking coal production increased year-on-year and was washed to produce clean coking coal, aligning with the group's long-term strategy of focusing on clean coking coal sales, the production of clean coking coal experienced a slight decline. Sales volume of clean coking coal remained largely flat compared to the previous year.

In the review year, the group expanded into coal trading business, with a trading sales volume of approximately 1.7 million tonnes. This initiative helped diversify the group's revenue sources. Sales from the coal trading business accounted for 35% of the group's operating revenue (2024: 0%).