Phoenix News Hong Kong Stock | CITIC Resources (01205) announced that in the six months ending June 30, 2021, the company obtained a profit of HK$427 million (unit... same below). Last year's loss was 431 million yuan, turning a loss into a profit; the basic profit per share was HK$5.44, with a loss of 5.48 Hong Kong cents last year, with no dividends.

During the period, the company's revenue was 1,704 million yuan, up 37.9% year on year; gross profit was 363 million yuan; gross loss last year was 658.91 million yuan.

Losses were drastically reversed to profit attributable to shareholders, mainly due to the following factors:There has been a significant improvement in the operating performance of the Group's petroleum business, including Group investment inProfit attributable to the Karazhanbas oil field1.728100 millionThe Hong Kong dollar, while the same period last year recorded a loss due2.661100 millionHKD. The improvement in the overall profitable operating performance of the Group's petroleum business was mainly due to the increase in average crude oil prices during the period and continued strict cost control;The Group's operating performance in the classification of electrolytic aluminumThe loss of the first half of 2020 was reversed to the profit of the first half of 2021, mainly due to the increase in the average aluminum sales price over the same period;Reduction in group financing costs4520ten thousandHKD, down year on year51.2%, mainly due to the Group's success in refinancing its loans with significantly reduced financing costs during this period, using internally available funds to repay loans early to reduce debt and maintain ease of global monetary policy.