南戈壁(01878.HK)公告，公司董事会将于2025年8月14日(星期四)批准公司及其附属公司截至2025年6月 30日止3个月及6个月财务业绩。该等业绩将于2025年8月14日(星期四)公布。 ...

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。 ...

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].

Group 1 - The Hong Kong coal stocks are experiencing a decline, with Mongolia Coal falling over 7% [1] - Mongolia Coal (00975.HK) decreased by 7.31%, South Gobi (01878.HK) by 4.47%, Yanzhou Coal (01171.HK) by 3.48%, and China Coal Energy (03668.HK) by 3.37% [1]

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]

Core Viewpoint - The significant decline in South Gobi Resources' stock price is attributed to disappointing Q1 financial results, reflecting broader challenges in the coal industry due to falling prices and changing product mix [1][2]. Company Summary - South Gobi Resources reported Q1 revenue of $123 million, a year-on-year increase of 49.53%. However, the company recorded a net loss of $26.205 million, compared to a profit of $12.252 million in the same period last year, indicating a shift from profit to loss [2]. - The average selling price of coal for South Gobi in Q1 was $59.5 per ton, down by $20 compared to the previous year, primarily due to a downturn in the Chinese coal market since 2024 [2]. Industry Summary - The coal industry is facing a challenging environment, with a loose supply-demand balance. Q1 coal consumption declined due to warmer winter weather and increased competition from renewable energy sources, leading to reduced coal consumption by major power plants [3]. - On the supply side, coal production increased rapidly in Q1, with high import levels and elevated social inventory, resulting in an overall surplus in coal supply [3]. - The decline in coal prices has negatively impacted the financial performance of coal companies, with 28 out of 34 A-share coal companies reporting a decrease in net profit in Q1, representing 82.4% of the sample [4]. - Market concerns are focused on whether coal prices will stabilize, with recent trends indicating continued price declines into May. Analysts suggest that while summer demand may improve, the overall outlook for price recovery remains cautious due to persistent supply pressures and moderate demand expectations [5].

Group 1: Company Performance - NetEase-S (09999) saw a significant increase of 10.89% in stock price after reporting Q1 2025 net revenue of RMB 28.8285 billion, a year-on-year increase of 7.4%, and gross profit of RMB 18.5 billion, up 8.6% [1] - H&H International Holdings (01112) rose over 8% as the market speculated on the ergotamine concept, with its Swisse brand showing strong performance in high-growth segments [2] - China Gold International (02099) experienced a stock price increase of over 5% after reporting a 351% rise in Q1 revenue to USD 273 million [2] Group 2: Clinical and Pharmaceutical Developments - Shandong Xinhua Pharmaceutical (00719) surged over 14% as COVID-19 infections showed an upward trend, with the company preparing for Phase II clinical trials of OAB-14 [1] - Innovent Biologics (01801) rose nearly 3% after announcing the completion of the first patient dosing in the Phase III clinical study of Ma Shidu peptide for obesity [1] - Kangxi Biologics (06185) increased over 3% after receiving approval from the Indonesian drug regulatory authority for its inhaled tuberculosis vaccine clinical trial [1] Group 3: Market Trends and Reactions - The Nasdaq Golden Dragon China Index fell over 2%, with notable declines in popular Chinese stocks such as Tiger Brokers (TIGR.US) down over 8% and Beike (BEKE.US) down over 5% [3] - UnitedHealth Group (UNH.US) experienced a significant drop of over 15% following reports of a U.S. Department of Justice investigation into potential insurance fraud [3] - Bitcoin-related stocks declined, with CleanSpark (CLSK.US) down nearly 6% and Coinbase (COIN.US) down over 7%, as Bitcoin itself fell over 1.5% [3]

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]