Citic Resources first-half profit jumps on high oil prices
Energy and mineral resource developer and investor Citic Resources Holdings Ltd. (1205.HK) said on Monday its profit rose sharply in the first half of 2026, boosted by high oil prices.
The company, a unit of the state-owned Citic Group, said it expects to report a profit of between HK$238 million ($30.4 million) and HK$322 million for the first half of 2026. That would represent a gain of 57% to 112% from the HK$152 million profit it reported in the first half of 2025.
Citic Resources’ revenue rose 58% year-on-year to nearly HK$15 billion in 2025, while its profit for the year fell 70% to HK$171 million.
The company’s stock fell 7.4% on Tuesday after the release of the first-half profit forecast. The shares are up about 27% this year.
By Doug Young
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
Cathay Pacific’s horizon clouded by surging oil prices, fading fare premiums
0293.HK -
BRIEF: Copper miner Jinshun Resources jumps in Hong Kong trading debut
3636.HK
- BRIEF: China Resources Building Materials profit doubles in 2025
-
Eve Energy powers toward Hong Kong IPO, undeterred by price wars
300014.SHE
- Cango eyes high-performance computing scale-up after turning a tight corner
-
BRIEF: APAC Resources returns to the black
1104.HK
-
Soaring gold prices fail to polish Mokingran profits. What went wrong?
2585.HK
