According to the Zhitong Finance App, New Mining Resources (01231) announced that the Group expects to make a net loss of about US$1.1 million in the six-month period ending June 30, 2026 (this period), compared with a net loss of about US$400,000 in the six-month period ending June 30, 2025 (same period last year).

The Group's performance expectations for the current period declined mainly due to lower revenue and gross profit compared to the same period last year. The decline was mainly due to two factors: (i) the supply of iron ore from major suppliers during the period was lower and the quality was lower compared to the same period last year, leading to a decline in the Group's sales; and (ii) due to weak customer demand for the Group's lower grade iron ore during the period, the Group prioritized reducing inventory risk and speeding up sales, which led to a decline in gross margin.

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