CGN MINING (01164) expects year-on-year net profit to increase
China General Nuclear Power Corporation Mining (01164) announced that the group expects the pre-tax profit from its continuing operations for the year ending December 31, 2025 to decrease by approximately HK$200 million to HK$250 million compared to the same period in 2024. At the same time, the group expects the profit for the year ending December 31, 2025 to increase by approximately HK$90 million to HK$140 million compared to the same period in 2024.
CGN MINING (01164) announced that it expects the pre-tax profit from its continuing operations for the year ending December 31, 2025 to decrease by approximately HK$200 million to HK$250 million compared to the same period in 2024. At the same time, the group expects the profit for the year ending December 31, 2025 to increase by around HK$90 million to HK$140 million compared to the same period in 2024.
The announcement stated that the decrease in uranium prices in 2025 led to a decline in the performance of one equity affiliate and one joint venture company compared to the same period in 2024. Therefore, it is expected that the pre-tax profit from the group's continuing operations for the year ending December 31, 2025 will fall compared to the same period in 2024. The increase in profit for the year ending December 31, 2025 compared to 2024 is mainly due to: an increase in gross profit due to higher uranium trading price differentials; no non-recurring operating losses in 2025, improving overall performance year-on-year; and a decrease in income tax expenses compared to 2024.
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