CITIC Resources (01205) estimates annual comprehensive profit attributable to shareholders of about HK$170 million to HK$230 million will decrease by about 60% to 70% year-on-year

According to the Zhitong Finance App, CITIC Resources (01205) announced that the Group expects to record unaudited comprehensive profit attributable to shareholders of approximately HK$170 million to HK$230 million for the year ended December 31, 2025, a decrease of about 60% to 70% over the year ended December 31, 2024.

The decrease in the estimated unaudited comprehensive profit attributable to shareholders during the reporting period is mainly due to the following factors: (i) the average sales price of the Group's crude oil fell sharply during the reporting period compared to the year ended December 31, 2024; (ii) during the reporting period, the cost of raw materials rose sharply compared to the year ended December 31, 2024, particularly the alumina used in the production of Portland Aluminium Smelter; (iii) because the Group stopped holding Alumina from July 18, 2024 Any interest in Limited led to a sharp reduction in profits attributable to associated companies; and (iv) profits attributable to joint ventures mainly engaged in the development, production and sale of petroleum and the production and sale of road asphalt and clarified oil were drastically reduced compared to the year ended 31 December 2024, due to a drop in crude oil prices during the reporting period.