HK Stock Market Move | MONGOL MINING (00975) fell nearly 4% in early trading, sales of clean coking coal prices dropped and the company expects to switch from profit to loss in the first half of the year.

Mongol Mining (00975) fell nearly 4% in morning trading, dropping 3.4% to HK$8.24 by the time of the report, with a turnover of HK$27.068 million. On the news front, Mongol Mining issued a profit warning, expecting a loss of $15-25 million in the first half of the year, compared to a net profit of $133 million in the same period last year, which turned from profit to loss. The announcement stated that the profit decline was mainly due to a decrease in the selling price of washed coking coal, leading to a reduction in revenue generated in the first half of 2025 compared to the same period in 2024 and one-time items related to debt refinancing. It is worth noting that Mongol Mining previously released second-quarter operating data, with its wholly-owned subsidiary Energy Resources LLC and holding subsidiary Khangad Exploration LLC collectively mining 3.4284 million tons of raw coal, a 28% decrease year-on-year and a 7% decrease quarter-on-quarter; processing 3.6057 million tons of coking raw coal and producing 2.1781 million tons of washed coking coal, with a 3% increase quarter-on-quarter and a 2% decrease year-on-year. In the second quarter, ER and KEX sold a total of 1.7397 million tons of washed coking coal, a 25% decrease year-on-year and a 9% increase quarter-on-quarter.