HK Stock Market Move | CHINA QINFA (00866) fell more than 8% after issuing a profit warning, with an expected mid-term profit to loss conversion of up to 168 million yuan.

CHINA QINFA (00866) fell more than 8%, as of the time of publication, down 8.66%, at 2.11 Hong Kong dollars, with a trading volume of 26.336 million Hong Kong dollars. On the news front, CHINA QINFA issued a profit warning, with the group expecting a post-tax loss of no more than 168 million yuan for the six months ending June 30, 2025 (performance), while a post-tax profit of 60.8 million yuan was achieved for the six months ending June 30, 2024. The discontinued operations and continuing operations share the loss and profit for this period as follows: discontinued operations: post-tax loss for this period not exceeding 200 million yuan; and continuing operations: post-tax profit for this period not exceeding 32 million yuan. The announcement stated that the group's increase in post-tax losses is mainly due to the comprehensive impact of the following factors: the average selling price of coal for the period has decreased compared to the same period in 2024; the raw coal production of discontinued operations has decreased from 3.67 million tons in the six months ending June 30, 2024 to 2.07 million tons for this period; and the raw coal production of continuing operations has increased from 760,000 tons in the six months ending June 30, 2024 to 2.05 million tons for this period.