APAC Resources H1 FY25/26 turnover hits HKD 2.9bn (+150.4%)

Reuters
Feb 27
APAC Resources H1 FY25/26 turnover hits HKD 2.9bn (+150.4%)

APAC Resources reported a profit attributable to shareholders of HKD 1.86 billion for the six months ended 31 December 2025, with profit before tax of HKD 1.86 billion. Turnover was HKD 2.88 billion and revenue was HKD 466.8 million, including trading of goods revenue of HKD 466.3 million and interest income of HKD 0.5 million. Basic earnings per share were 130.21 HK cents and diluted earnings per share were 123.27 HK cents. The company said the period’s result was mainly driven by its Resource Investment segment, which delivered segment profit of HKD 1.30 billion, supported by a fair value gain on listed equity securities held-for-trading of HKD 1.44 billion and a reversal of impairment loss on interests in associates of HKD 475.0 million, primarily related to MGX Resources. APAC Resources also reported gross sales proceeds from resource investment of HKD 2.41 billion, and ended the period with total assets of HKD 6.72 billion, including financial assets at fair value through profit or loss of HKD 3.56 billion and cash and bank balances of HKD 675.3 million. In business updates, APAC Resources highlighted its primary strategic investments in MGX (38.4% owned), Tanami Gold (46.3%), Metals X (23.3%), Dragon Mining (24.7%) and Prodigy Gold (30.7%) as at 31 December 2025, with combined net attributable profits shared from these associates of HKD 58.9 million for the period. It noted MGX suspended mining at Koolan Island following a rockfall in October 2025 and is focusing on monetising lower-grade stockpiles, while Prodigy Gold’s stake increased from 29.6% at 30 June 2025 to 30.7% following participation in an entitlement offer and underwriting of a shortfall offer at A$0.002 per share. APAC Resources also disclosed a significant investment in Shougang Fushan (2.7% stake), which generated a fair value gain of HKD 10.0 million in the period and had a carrying value of HKD 409.2 million at 31 December 2025 (6.1% of total assets).

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