HK Stock Price Fluctuated | Mongol Mining (00975) dropped over 4% again, with cumulative decline of nearly 40% after profit warning. Net profit in the second half of the year decreased significantly compared to the previous period.

After the release of the earnings forecast by MONGOL MINING (00975), the stock continued to decline, with a cumulative drop of nearly 40%. As of the time of writing, it fell by 3.56% to HK$8.66, with a trading volume of HK$44.33 million. On the news front, MONGOL MINING is set to release its earnings on March 25. The company previously announced a profit increase, with expected net profit ranging between US$220 million and US$240 million for last year, and around US$59 million for 2022, a year-on-year increase of about 270% to 300%. The announcement stated that the significant increase in net profit is mainly due to increased sales volume and higher average selling prices of washed coking coal, resulting in higher revenue generated in 2023 than in 2022. It is worth noting that the interim performance of MONGOL MINING shows that the company's attributable net profit to equity holders for the first half of 2023 is US$137 million. By calculation, the net profit for the second half of 2023 is expected to be around US$83 million to US$103 million, a significant decline compared to the previous period.