GRAND OCEAN AR (00065) has announced its interim results for the 2026 fiscal year, revealing a net loss attributable to shareholders of HK$9.847 million for the six-month period ended June 30. This marks an expansion of 1.5% compared with the loss recorded in the corresponding period of the previous year.

The company reported revenue of HK$55.036 million, reflecting a year-on-year decline of 10.7%. Basic loss per share stood at HK4.01 cents, underscoring the financial strain on the group during the period under review.

The coal mining operations remained the sole business segment for the group for both the six-month periods ending June 30, 2026, and June 30, 2025. However, output, revenue, and gross profit from this segment all experienced decreases during the latest reporting period relative to the prior-year timeframe.

Management attributed the downturn primarily to increased maintenance requirements stemming from aging infrastructure and mining machinery, alongside more complex underground geological conditions that hindered extraction efficiency. These combined factors, the company noted, directly contributed to the reduction in both production volumes and revenue generation.