China Qinfa (00866) announces profit increase, estimating the post-tax profit for the year 2024 to be no more than 560 million yuan.

CHINA QINFA (00866) announced that the group expects to achieve a post-tax profit of no more than RMB 560 million for the year ending December 31, 2024, while the post-tax profit for the year ending December 31, 2023 is approximately RMB 192 million. The expected increase in post-tax profit is mainly due to the net impact of the following factors: significant/non-significant revisions to borrowing; a decrease in average coal selling price; and impairment losses on properties, plant and equipment, and coal mining rights due to a decrease in average coal selling price.