Tongguan Gold (00340) expects profit attributable to shareholders of approximately HK$510 million to HK$530 million to increase by about 49% to 55% year-on-year

According to the Zhitong Finance App, Tongguan Gold (00340) announced that it expects to obtain profit attributable to company owners of about HK$510 million to HK$530 million in the six months ending June 30, 2026, an increase of about 49% to 55% over the profit attributable to company owners in the same period in 2025, about HK$343 million.

The profit for the mid-2026 period mentioned above has been included in a one-time income tax expense of approximately HK$95 million for 2025. This one-time expense was due to a subsidiary of the company (which previously enjoyed preferential tax policies for high-tech enterprises) to pay additional taxes in response to a notice issued by the competent tax authority on August 7, 2026 after tax consultation.

Excluding the impact of the one-time tax expenses mentioned above, the adjusted profit forecast for company owners for the mid-2026 period is approximately HK$605 million to HK$625 million, an increase of approximately 76% to 82% compared with approximately HK$343 million for the same period in 2025. The increase in profit attributable to company owners is mainly due to an increase in the average sales price of the Group compared to the same period in 2025.