Hanwang Gold (03788)'s profit police expect a loss of about 45 million to 60 million yuan in the first half of the year

According to the Zhitong Finance App, Hanwang Gold (03788) announced that the group expects to lose about 45 million to 60 million yuan in the first half of 2026, compared with a profit of 105 million yuan for the same period in 2025.

According to the announcement, the loss was mainly due to the year-on-year decline in iron ore production due to the fact that the processing time for land approval procedures exceeded expectations (land approval was obtained in early May 2026) and the production schedule for the first half of 2026 was relatively low, leading to a year-on-year decline in iron concentrate production, and the high-purity iron business stopped production due to the implementation of ultra-low emission transformation projects, which led to a year-on-year decline in high-purity iron production. Sales declined due to the decline in iron concentrate and high-purity iron production, leading to a year-on-year decrease of about RMB 70 million in the total net profit of the domestic iron ore and high-purity iron business; the amortization costs of directors' and employee options granted to the Australian gold mining business were approximately RMB 32 million (first half of 2025: RMB 906,000); and exchange losses due to exchange rate fluctuations between the US dollar and Hong Kong dollar to RMB about RMB 27 million (first half of 2025: exchange earnings of RMB 1.15 million).