香港交易及結算所有限公司及香港聯合交易所有限公司（「香港聯交所」）對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公佈全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 董事會會議召開日期 南戈壁資源有限公司（「本公司」）宣佈本公司之董事會將於 2025年 8月 14日（星期四）批 准本公司及其附屬公司截至 2025 年 6 月 30 日止三個月及六個月之財務業績。該等業績將於 2025 年 8 月 14 日（星期四）公佈。 承董事會命 南戈壁資源有限公司 首席董事 赫英斌 溫哥華，2025年8月1日 香港，2025年8月1日 SOUTHGOBI RESOURCES LTD. 南戈壁資源有限公司* （根據加拿大英屬哥倫比亞法例存續的有限公司） （香港股份代號︰1878） （多倫多證券交易所創業板股份代號︰SGQ） 於本公告日期，本公司執行董事為徐瑞彬先生、朱重臨女士及申晨先生 ; 本公司獨立非執行董 事為赫英斌先生、權錦蘭女士及蔡奮強先生；本公司非執行董事為高柱先生及溫在祥先生。 * 僅供識別 1 ...

（文章来源：每日经济新闻） 每经AI快讯，7月31日，港股煤炭股持续走低，中煤能源(01898.HK)跌超4%，兖矿能源(01171.HK)跌超 3%，中国神华(01088.HK)、南戈壁(01878.HK)等跟跌。 ...

Market Performance - The Hong Kong stock market showed mixed performance with the Hang Seng Index rising by 0.68% to 25,562.13 points, while the Tech Index fell by 0.24% to 5,664.02 points, and the National Enterprises Index increased by 0.29% to 9,177.15 points [2][3]. Hang Seng Index Movement - The Hang Seng Index reached a high of 25,660.54 points in the morning but maintained a volatile pattern before closing slightly higher [4]. Sector Performance - Insurance, pharmaceuticals, and brokerage stocks saw collective strength, while coal, shipping, and photovoltaic stocks experienced adjustments [5]. Insurance Sector Strength - Major insurance stocks like AIA Group (up 4.96%), China Pacific Insurance (up 3.91%), and Ping An Insurance (up 3.49%) saw significant gains due to a favorable assessment of life insurance reserve interest rates, which are expected to lower the new business liability costs for insurers [6][7]. Pharmaceutical Sector Boost - Pharmaceutical stocks surged, with companies like Fonda Holdings (up 10.39%), Zhaoyan New Drug (up 6.76%), and Via Biotechnology (up 5.45%) benefiting from overseas licensing deals, including a notable $12.5 billion collaboration between Hengrui Medicine and GlaxoSmithKline [8][9]. Brokerage Sector Gains - Brokerage stocks such as Guotai Junan International (up 9.45%), Shenwan Hongyuan Hong Kong (up 7.32%), and Xingzheng International (up 5.08%) experienced strong performance, likely influenced by the upcoming implementation of the Stablecoin Regulation in Hong Kong [11][13]. Weakness in Cyclical Stocks - Coal, shipping, and photovoltaic stocks faced declines, with companies like Feishang Non-Ferrous Coal (down 15.28%) and COSCO Shipping Ports (down 10.99%) leading the downturn due to falling commodity prices in the futures market [14][18]. Individual Stock Movements - Xuanwu Cloud saw a significant increase of 28% following a strategic partnership with LG Uplus, while Zhejiang United Investment surged by 116.67% on expectations of turning a profit by April 2025 [23][24].

智通财经7月28日电，截至发稿，蒙古焦煤(00975.HK)跌7.31%、南戈壁(01878.HK)跌4.47%、兖矿能源 (01171.HK)跌3.48%、中煤能源(03668.HK)跌3.37%。 港股煤炭股走弱 蒙古焦煤跌超7% ...

Core Viewpoint - The Hong Kong coal stocks have strengthened, with Mongolian Coal rising nearly 7% due to increased demand for thermal coal amid ongoing high temperatures and supply constraints [1] Group 1: Company Performance - Mongolian Coal (00975.HK) increased by 6.68% [1] - South Gobi Resources (01878.HK) rose by 5.38% [1] - China Qinfa (00866.HK) saw a rise of 4.02% [1] - Nanshan Resources (01229.HK) experienced a 2.88% increase [1] Group 2: Market Dynamics - Since July, high temperatures have led to a steady increase in thermal coal demand [1] - Supply has consistently fallen short of expectations, resulting in a seller's market for thermal coal [1] - The supply-demand relationship in the thermal coal market continues to favor sellers, supporting ongoing price increases [1]

5月16日，港股南戈壁（01878.HK）股价放量大跌，截至收盘，该股跌幅达16.17%，报1.97 港元/股。 消息面，5月15日，南戈壁披露了一季度的成绩单，表现不尽人意。 财报显示，今年一季度，南戈壁实现收益1.23亿美元，同比增加49.53%；归母净利润录得亏损2620.5万 美元，而上年同期为盈利1225.2万美元，由盈转亏。 据行情数据显示，进入5月份后，煤炭价格仍在持续下跌。 谈及业绩滑坡的原因，南戈壁称，主要因为公司煤炭平均售价下降及产品组合改变。今年一季度，南戈 壁平均售价每吨59.5美元，较上年同期下降20美元。这主要是受2024年以来中国煤炭市场下行的影响， 导致公司改变其产品组合，以销售更大比例的低价煤炭产品。 对此，长江证券此前研报指出，煤价加速下跌主因节后需求转差+供给增加，导致港口累库低价出货疏 港意愿增强。但考虑到迎峰度夏用煤需求确定性改善，叠加供给相对平稳下，旺季煤价企稳之势仍难 逆，后续重点关注供给端边际减少的潜在可能性所带来的利好。 事实上，南戈壁一季度业绩下滑，只是煤炭行业整体困境的一个缩影。 五矿期货则认为，短期煤炭端价格的压力仍未有明显的化解，后续5月底可能是观察价 ...

3. 信达生物(01801)涨近3% ，宣布玛仕度肽在相关肥胖的III期临床研究(GLORY-3)完成首例受试者给 药。 一脉阳光(02522)盘中涨超5% 拟斥至多1亿港元回购股份 公司深入挖掘医学影像数据价值。 康希 诺生物(06185)涨超3% 吸入用结核病加强疫苗临床试验获印度尼西亚药监局批准。 4. H&H国际控股(01112)再涨超8% 市场炒作麦角硫因概念 公司旗下Swisse品牌有超光瓶产品。 ANC方 面，Swisse在抖音、跨境等高景气细分优势明显，24年增长快于行业；PNC板块需求旺盛，公司聚焦 高毛利产品并退出亏损渠道，以提升盈利水平，Q1 SolidGold已基本实现盈利。 5. 正大企业国际(03839)早盘涨超32% 一季度股东应占溢利同比增超6.7倍。 6. 浙江世宝(01057)涨近7% 近期获股东连续增持 公司出口业务主要面向新兴市场。 点击蓝字，关注我们 今日上午港股 1. 网易-S(09999)绩后高开超10% ，涨10.89%，报186.4港元，成交额3.16亿港元。消息面上，网易 公布2025年第一季度业绩，净收入为人民币288.285亿元，同比增加 7.4%；毛利 ...

Financial Performance - In Q1 2025, the company recorded sales of 2.1 million tons, up from 1.1 million tons in Q1 2024, representing a 90.9% increase[7] - The average realized price per ton in Q1 2025 was $59.5, down from $79.5 in Q1 2024, indicating a 25.3% decrease[7] - The company reported an operating loss of $15.7 million in Q1 2025, compared to an operating profit of $32.1 million in Q1 2024, reflecting a significant decline in financial performance[8] - In Q1 2025, the company reported revenues of $122.87 million, a significant increase from $82.17 million in Q1 2024, reflecting a growth of approximately 49.7%[24] - The total coal sales volume for Q1 2025 was 2.06 million tons, up from 1.05 million tons in Q1 2024, indicating a year-over-year increase of about 96.2%[23] - The cost of sales in Q1 2025 was $133.69 million, compared to $45.53 million in Q1 2024, marking an increase of about 194.5%[24] - The company recorded an operating loss of $15.67 million in Q1 2025, a decline from an operating profit of $32.15 million in Q1 2024[26] - The company reported a gross loss for the quarter of $10,822 thousand, a significant decline from the gross profit of $36,636 thousand in the previous year, indicating a shift in profitability[70] Tax and Regulatory Issues - The company faces a tax penalty of approximately $75 million from the Mongolian tax authority, stemming from a tax audit covering the years 2017 to 2020[11] - Following an appeal, the tax penalty was reassessed to approximately $80 million, and the company has the right to appeal this decision[12] - The company is involved in a tax dispute with the Mongolian tax authority, with a revised penalty amounting to approximately $26,500,000[40] - The company has paid a total of $3.3 million in tax penalties to the Mongolian tax authority to date[16] - As of March 31, 2025, the company recorded additional tax liabilities and penalties totaling $45.5 million, including $26.5 million in tax penalties and $19 million in late payment penalties[16] - The Mongolian tax authority officials have appealed the court's decision to reduce the tax penalty[15] - The company has decided not to appeal the revised reassessment result within the 30-day period allowed by Mongolian law[14] - The company anticipates using cash generated from operations to settle unpaid taxes and penalties[42] Operational Developments - The company is expanding its coal product offerings, including mixed coal, washed coal, and dry-selected processed coal, to meet market demand[7] - The company has implemented various coal processing methods to improve coal quality and increase export volumes to China[7] - The company aims to control exploration and evaluation costs to preserve financial resources in compliance with Mongolian mining laws[30] - The company plans to expand its mining operations and coal processing capacity in 2025 to capture market share[66] - The company aims to optimize its product mix by improving mining operations and utilizing its dry and wet coal processing plants[67] - The company intends to increase coal production to leverage economies of scale and enhance operational efficiency through third-party mining contracts[67] - The company will maintain high standards of health, safety, and environmental practices in its operations[68] Financial Position and Liquidity - The company has a significant operating capital deficit of $253.4 million as of March 31, 2025, up from $228.1 million as of December 31, 2024[43] - The company's asset deficit increased to $80.3 million as of March 31, 2025, compared to $49.8 million as of December 31, 2024[43] - The company entered into a deferral agreement on March 20, 2025, allowing for the postponement of approximately $111.6 million in cash and in-kind interest payments[50] - The company will pay a deferred payment fee at an annual interest rate of 6.4% on the outstanding balance related to convertible bonds under the deferral agreement[18] - The company is positioned to leverage opportunities between China and Mongolia, supported by strong operational performance over the past decade[69] - The company expects to have sufficient liquidity and capital resources to meet ongoing operational responsibilities and future contractual obligations, including the ability to pay a tax penalty of $26.5 million and an additional tax late fee of $19 million to the Mongolian tax authority[81] Legal Matters - The company has confirmed that no provisions are required for the collective lawsuit as of March 31, 2025[56] - The company has completed all document production and deposition for the collective lawsuit, with expert reports provided regarding liability and damages[55] - The company has entered into two good faith procedural agreements with the plaintiff's lawyers, with a pre-trial mediation scheduled for August 2025[55] - The company has no obligation to pay the additional $18.5 million related to the wet washing contract with Ejina Jinda as it is deemed unlikely[57] Market Outlook - The company anticipates that the evolving geopolitical landscape, particularly U.S.-China trade tensions, will reshape the international coal market, potentially increasing imports from stable sources like Mongolia[64] - The company remains cautiously optimistic about the Chinese coal market, expecting continued reliance on coal as a primary energy source despite recent challenges in the property market affecting steel demand[65] - The company is assessing its financing needs, operational and development plans, and future production levels, including mining operations and capacity increases planned for 2025[81] - The company is conducting impairment analysis that includes estimates and assumptions regarding potential impacts[82] - The company acknowledges the risks associated with uncertainties in mining activities and actual capital and operating costs exceeding management estimates[82]

Group 1 - The company Southgobi Sands LLC (SGS), a wholly-owned subsidiary of SouthGobi Resources Ltd, received an invitation from the Mongolian government to negotiate ownership interests related to its coal mining licenses in Mongolia [1][2] - The Mongolian government aims to implement the National Wealth Fund Law passed in April 2024, which involves determining the government's equity stake in entities holding mining licenses deemed strategically significant [1][2] - SGS is expected to engage in ongoing discussions with the Mongolian government's authorized representative, with the goal of reaching a constructive understanding and agreement [2] Group 2 - The company's legal advisors indicated that the Mongolian government has the right to participate in exploration and/or mining of strategically significant minerals through equity arrangements with license holders [2] - Several other license holders of strategically significant minerals have already engaged in similar negotiations with the Mongolian government [2] - The company will continue to monitor developments regarding the scope of strategically significant minerals and their potential impact on its operations while seeking to protect its legal rights to the minerals [2]

Financial Performance - In 2024, the average selling price of coal was $70.4 per ton, a decrease of 24.3% from $93.0 per ton in 2023[16] - The company achieved a record raw coal production of 10.2 million tons, an increase of 151.9% year-on-year, and coal sales reached 7.02 million tons, up 95.5% year-on-year[16] - Annual revenue reached $493 million, reflecting a year-on-year growth of 48.8%, with net profit attributable to equity holders amounting to $92.5 million[16] Operational Capacity and Expansion - The coal processing capacity was enhanced to approximately 9 million tons per year, with a significant upgrade to the wet washing plant, increasing its input capacity to 1.7 million tons per year[18] - The total customs clearance volume at the Ceke port reached 24.52 million tons, the highest in its history, with SouthGobi's coal accounting for about 31% of this volume[19] - A new dry coal selection project with a capacity of 6 million tons per year was initiated in collaboration with Tangshan Shenzhou Machinery Group, enhancing product quality and cash flow[18] - The company plans to expand mining operations and enhance coal processing capabilities to achieve economies of scale and increase profitability[26] - The completion of the coal production, transportation, and sales closed-loop industry chain is expected to significantly impact future production capacity expansion[20] Strategic Initiatives - The company is actively pursuing a "cash is king" strategy to improve inventory turnover and accelerate cash flow recovery[20] - Southgobi aims to create more tax revenue and job opportunities for the local government through its expansion strategy[26] - The company is positioned to capitalize on opportunities between China and Mongolia, leveraging its strong operational performance over the past decade[31] Governance and Leadership - The company has a strong leadership team with extensive experience in the energy and finance sectors, including over 40 years in traditional energy investment and management[48] - The independent directors bring diverse expertise in compliance, regulatory management, and financial consulting, enhancing the company's governance[52][54] - The company is committed to developing new technologies and products to enhance its competitive edge in the energy sector[52] - The company is focused on enhancing shareholder value through effective governance and strategic decision-making[52] Employee and Community Engagement - As of the end of 2024, Southgobi Sands LLC employed 768 staff, an increase of 214 from 2023, with 86% being Mongolian nationals[22] - The company achieved zero work-related fatalities and injuries for the third consecutive year in 2024, providing 8,687 hours of training to 598 employees[23] - In 2024, the company planted 55,000 trees as part of Mongolia's "One Billion Trees" initiative, demonstrating commitment to sustainable development[25] - Charitable donations made by the company in the fiscal year amounted to $853,273, compared to $228,318 in 2023[124] Financial Management - The company has a cautious treasury policy to manage cash flow, ensuring sufficient cash for operational and investment needs[70] - The company is closely monitoring its foreign exchange risk exposure and may consider appropriate hedging policies in the future[70] - The company has not declared any dividends since its establishment and does not anticipate declaring any in the foreseeable future[64] Shareholder Information - As of December 31, 2024, the company has issued 296,704,666 shares of common stock[66] - The major shareholder JD Zhixing Fund L.P. holds 85,714,194 shares, representing 28.89% of the total issued shares as of December 31, 2024[106] - The company has a public float of approximately 46.74%, which meets the TSX-V requirements[119] Corporate Governance Practices - The company has adopted various corporate governance measures to enhance shareholder confidence and protect their interests[138] - The board consists of 3 executive directors, 2 non-executive directors, and 3 independent non-executive directors, maintaining a balanced representation[147] - The company has implemented a compliance plan for all directors and employees, including a code of conduct[139] - The company has established a governance framework that reflects best practices in corporate governance[170] Board Committees and Meetings - The audit committee consists of three independent non-executive directors: Ms. Kwan Kam-lan (Chair), Mr. He Ying-bin, and Mr. Cai Fen-qiang[165] - The compensation committee is composed of three independent non-executive directors, with a focus on determining the compensation and benefits for directors and executives[176] - The board held a total of 7 meetings in the fiscal year, achieving an overall attendance rate of 94.34%[185] Training and Development - The company encourages directors to participate in professional development, with all directors attending various training sessions during the fiscal year[193] - Directors received training on International Financial Reporting Standards (IFRS) sustainability disclosure standards hosted by the Hong Kong Stock Exchange[199][200] - The company provided opportunities for directors to participate in various online courses related to corporate governance and the mining industry, with costs covered by the company[197]