SOUTH MANGANESE (01091) announces a profit warning, expecting that the mid-term profit attributable to shareholders will not be less than HKD 350 million, representing a year-on-year increase.

SOUTH MANGANESE (01091) announced that, compared to the profit attributable to the owners of the Company of approximately HKD 173 million for the six months ending June 30, 2025 (the first half of 2025), the Group expects to achieve profit attributable to the owners of the Company of no less than HKD 350 million for the six months ending June 30, 2026 (the first half of 2026). The expected increase in profit attributable to the owners of the Company is mainly due to the following reasons: 1. The strong operating performance of the Group's electrolytic manganese (electrolytic manganese) and alloy materials production segment in the first half of 2026, mainly driven by the increase in the average selling price of electrolytic manganese products in the first half of 2026 compared to the first half of 2025; and 2. The growth in the operating performance of the Group's manganese mining segment in the first half of 2026, mainly driven by the increase in the average selling price of Gabon ore in the first half of 2026 compared to the first half of 2025.