E-COMMODITIES：INTERIMREPORT2025.pdf

1、股份代號：1733易大宗控股有限公司E-COMMODITIES HOLDINGS LIMITED中期業績報告INTERIM REPORT 202521319202123252642Management Discussion and AnalysisOther InformationConsolidated Statement of Profit or LossConsolidated Statement of Profit or Loss and Other Comprehensive IncomeConsolidated Statement of Financial PositionCons

2、olidated Statement of Changes in EquityCondensed Consolidated Cash Flow StatementNotes to the Unaudited Interim Financial ReportReview Report to the Board of Directors of E-Commodities Holdings LimitedManagement Discussion and Analysis2E-COMMODITIES HOLDINGS LIMITEDINTERIM REPORT 2025I.OVERVIEWReven

3、ue(in HK$million)Supply Chain Trading Volume(million tonnes)Net Profit(in HK$million)Total Assets(in HK$million)Total Equity(in HK$million)Cash and Cash Equivalents(in HK$million)1H202419,8542H202419,3121H202512,6721H20242H20241H20251H20248302H20241541H2025133 2024/12/312025/6/3002,0004,00010,0008,0

4、009,1019,1781,9962,4352024/12/312025/6/30CoalOthers015,00010,0005,00020,0001512069302,0001,0003,0002024/12/312025/6/3005,00010,00020,00015,00017,43514,47203009006006,000*Excluding sales volume of approximately 4.83 million tonnes of Mongolia coal traded through Xianghui Energy(Xiamen)Co.,Ltd.*(象暉能源(

5、廈門)有限公司),an associate of the Group.0.210.119.25*10.1612.900.318.9412.799.95Management Discussion and Analysis3E-COMMODITIES HOLDINGS LIMITEDINTERIM REPORT 2025II.FINANCIAL REVIEW1.Revenue OverviewIn the first half of 2025,coking coal prices sustained the downward trajectory initiated in the second h

6、alf of 2024,primarily attributable to excess supply and prevailing pessimistic market sentiment.On the supply side,the output of the main domestic production areas of coking coal increased;while import volumes moderated due to profit inversion and the retreat of U.S.coal from the market,the overall