According to the announcement, the earnings from ongoing operations for FS Anthracite (01738) in the mid-year of 2024 were approximately 0.154 billion yuan, a decrease of about 76.0% year-on-year. The loss attributable to the shareholders of the parent company was approximately 0.144 billion yuan, an increase of about 5.13 times year-on-year. The loss per share was 0.1 yuan.

The announcement stated that the decline in earnings was mainly due to a decrease in the sales volume of self-produced anthracite coal and a decrease in the average selling price. The sales volume of self-produced anthracite coal was approximately 0.42 million tons, a decrease of about 68.3% year-on-year. This was mainly due to the complexity of the geological conditions of the group's existing coal mining faces; several instances of exceeding the gas limit and strict safety and environmental regulations leading to temporary production stoppages; optimization of the mining team and the suspension of mining operations due to delayed construction. The average selling price of self-produced anthracite coal (excluding value-added tax) was RMB 366.7 per ton, a decrease of about 24.4% year-on-year. This was mainly due to the decline in the coal quality of the group's coal mines and the overall price decline in the domestic coal market in China.

The increase in losses was mainly due to a decrease in gross profit of approximately 0.223 billion yuan (mainly due to the decrease in the average selling price and sales volume of self-produced anthracite coal during the reporting period, as well as an increase in unit sales cost).