China Qinfa (00866) issued a profit warning, expecting a net loss of no more than 168 million yuan in the midterm after tax.

CHINA QINFA (00866) announced that the Group expects to incur a loss of no more than RMB 168 million (before tax) for the six months ending on June 30, 2025, while it achieved a profit of RMB 60.8 million (before tax) for the six months ending on June 30, 2024. The Group has terminated its operating business and the attributable income and expenses for the period are as follows: For the terminated operating business, the loss is not more than RMB 200 million, and for the continuing operating business, the profit is not more than RMB 32 million for the same period. The increase in the Group's loss after tax is mainly due to the combined impact of the following factors: a decrease in the average coal sales price for the period compared to the same period in 2024; a decrease in the raw coal production for the terminated operating business from 3.67 million tons in the six months ending on June 30, 2024 to 2.07 million tons for the current period; and an increase in the raw coal production for the continuing operating business from 760,000 tons in the six months ending on June 30, 2024 to 2.05 million tons for the current period. The Group's loss after tax is also attributed to the depreciation of the Indonesian Rupiah against the Chinese Renminbi and US Dollar, which resulted in a loss of approximately RMB 70.8 million from settlement and revaluation of monetary items.