Feishang Anthracite ( 01738.HK ) Annual revenue increased by 15.7% to 357 million yuan

Gelonghui March 31 | Feishang Unsmoked Coal (01738.HK) Announces Annual Results, for the year 2025, the Group’s total revenue from continuing operations is approximately RMB 356.8 million, an increase of about 15.7% year-on-year. Revenue increased by approximately RMB 48.5 million, mainly due to an increase in sales volume of self-produced unsmoked coal, despite a decrease in the average selling price. The sales volume of self-produced unsmoked coal increased from about 0.88 million tons in 2024 to about 1.04 million tons in 2025, an increase of about 18.9%. The main reason for the increase in sales volume is that production was resumed after the temporary suspension at the Yongsheng Coal Mine and the Baiping Coal Mine. The average selling price of self-produced unsmoked coal ( excluding VAT ) decreased from RMB 352.5 per ton in 2024 to RMB 343.1 per ton in 2025, down about 2.7%, mainly due to the overall decline in coal market prices in mainland China.

The loss from continuing operations attributable to owners of the parent company increased from approximately RMB 538.6 million in 2024 to approximately RMB 625.6 million in 2025. The increase in loss is mainly due to (i) the decrease in gross profit of about RMB 72.6 million( primarily caused by higher unit selling costs and a slight decline in average selling price); (ii) an increase in impairment loss on property, plant and equipment of about RMB 70.6 million, and a decrease in impairment loss on right-of-use assets of about RMB 25.9 million; (iii) a net increase in other operating expenses of about RMB 38.1 million( mainly due to provisions made for litigation and arbitration); and (iv) an increase in income tax expenses of about RMB 28.0 million, mainly due to the reversal of deferred income tax benefits recognized in prior years caused by the decline in projected profit before tax. The increase in loss has been partly offset by a reduction in administrative expenses of about RMB 26.1 million( mainly due to lower staff costs resulting from strict cost and expense control measures).

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