Huaibei Mining (600985) investor relations material

Executive summary

• Revenue for Q3 2025 was RMB 11.23 billion, down 42.22% year-over-year; YTD revenue was RMB 31.84 billion, down 43.81%.

• Net profit attributable to shareholders for Q3 was RMB 38.72 million, down 96.78% year-over-year; YTD net profit was RMB 1.07 billion, down 74.14%.

• Significant declines in coal production and prices, as well as lower coke prices, drove the sharp drop in revenue and profit.

Financial highlights

• Operating income for Q3 was RMB 33.62 million, down 97.61% year-over-year; YTD operating income was RMB 1.12 billion, down 76.17%.

• Basic and diluted EPS for Q3 were RMB 0.01, down 97.78% year-over-year; YTD EPS was RMB 0.40, down 74.68%.

• Net cash flow from operating activities YTD was RMB 3.86 billion, down 50.49% year-over-year.

• Total assets at Q3-end were RMB 89.26 billion, up 1.72% from year-end 2024.

• Shareholders’ equity was RMB 41.40 billion, down 2.34% from year-end 2024.

Outlook and guidance

• Management attributes the performance decline to lower coal output and prices, and expects continued pressure if market conditions persist.