Gelonghui, January 16 | CITIC Resources (01205.HK) announced that the Group expects to record unaudited comprehensive profit attributable to shareholders of approximately HK$495 million to HK$605 million for the year ended 31 December 2023, a decrease of about 55% to 60% over the year ended 31 December 2022.

The decrease in the estimated unaudited comprehensive profit attributable to shareholders during the reporting period is mainly due to the following factors: (i) the average sales price of the Group's crude oil fell sharply during the reporting period compared to the year ended 31 December 2022; and (ii) during the reporting period, the profit attributable to the associated companies decreased significantly compared to the year ended 31 December 2022, and a preliminary estimate was made for the impairment of the associated companies.