Changes in Hong Kong stocks | Shougang Resources (00639) rose more than 4%, net profit increased 46% year-on-year in the first half of the year, and high dividends highlighted the value of dividend allocation

The Zhitong Finance App learned that Shougang Resources (00639) rose by more than 4%. As of press release, it had risen 4.09% to HK$2.93, with a turnover of HK$80.264,900.

According to the news, Shougang Resources announced its 2026 interim results last night, with revenue of HK$3.243 billion, up 54% year on year; profit attributable to company owners of HK$589 million, up 46% year on year; and plans to pay an interim dividend of HK$10 cents per common share. In the first half of the year, the company achieved 2.79 million tons of raw coking coal, an increase of 6% over the previous year, an increase of 150,000 tons; the production of fine coking coal was 1.95 million tons, an increase of 27% over the previous year.

Huatai Securities believes that production cuts have continued in Shaanxi since July, compounded by the lack of oil in Mongolia. The average price of coking coal from July 1 to August 26 was +21% compared to the second quarter, which is expected to support the company's profit performance in the second half of the year. Furthermore, after experiencing performance fluctuations brought about by the conversion of upstream and lower coal structures in 2025, the company has consistently provided stable returns to shareholders, highlighting the value of dividend allocation.