Gelonghui July 23 丨CITIC Resources (01205.HK) announced,In the interim period of the six months ended June 30, 2021, revenue was HK$1,704 million,A year-on-year increase of 37.9%;Shareholders should account for a profit of HK$427 million, compared with a net loss of HK$430 million last year, turning a loss into a profit;Common shareholders of the company should account for a profit of HK5.44 cents per share.

Compared with the same period in 2020, the average price of DateDBrent crude oil and the average price of Platts Dubai crude oil increased by 63.3% and 56.7%, respectively, to 65.0 US dollars per barrel and 63.6 US dollars per barrel, respectively. Group revenue increased 37.9% year over year.

This is mainly due to the combined effects of higher crude oil prices and higher commodity prices in the first half of 2021. There was a sharp reversal from loss attributable to shareholders to profit attributable to shareholders during the period, mainly due to the following factors: there was a significant improvement in the operating performance of the Group's petroleum business, including a profit of HK$172.8 million from the Group's investment in the Karazhanbas Oilfield, while an attributable loss of HK$266 million was recorded in the same period last year.

The improvement in the overall profit and operation performance of the Group's petroleum business was mainly due to the rise in average crude oil prices during the period and continued strict control; the Group's electrolytic aluminum classification operating performance was reversed from losses in the first half of 2020 to profit in the first half of 2021, mainly due to the increase in average aluminum sales prices compared to the same period; and the Group's financing fell by HK$45.2 million, down 51.2% from the previous year. The main reason was that the Group successfully used significantly reduced financing to refinance its loans using available internal funds to reduce debt and maintain global monetary policies Relaxed.