* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 24, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Johnny Depp Set To Finally Make His Big Hollywood Comeback After Amber Heard Controversy – Yahoo

    Johnny Depp Set for a Triumphant Hollywood Comeback Following Amber Heard Controversy

    ‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

    Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

    Kanawha County Launches Major Upgrade to 911 Tower Technology

    Next steps: Technology opens new options for greater mobility – Missouri Independent

    Next Steps: How Technology is Opening Exciting New Doors to Greater Mobility

    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Johnny Depp Set To Finally Make His Big Hollywood Comeback After Amber Heard Controversy – Yahoo

    Johnny Depp Set for a Triumphant Hollywood Comeback Following Amber Heard Controversy

    ‘Chainsaw Man — The Movie: Reze Arc’ Review: Hit Manga Gets an Ultra-Violent, Surprisingly Emotional Big-Screen Adaptation – Yahoo

    Chainsaw Man – The Movie: Reze Arc Review: A Brutal and Unexpectedly Emotional Big-Screen Adaptation

    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

    Kanawha County Launches Major Upgrade to 911 Tower Technology

    Next steps: Technology opens new options for greater mobility – Missouri Independent

    Next Steps: How Technology is Opening Exciting New Doors to Greater Mobility

    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

CITIC Resources Announces its 2024 Interim Results

July 27, 2024
in News
CITIC Resources Announces its 2024 Interim Results
Share on FacebookShare on Twitter

HONG KONG, July 26, 2024 – (ACN Newswire) – CITIC Resources Holdings Limited (hereinafter referred to as the CITIC Resources or the Company, or the Group when its subsidiaries are included; Stock Code: 1205.HK) announces its unaudited interim results for the six months ended 30 June 2024 (hereinafter referred to as the “Period”).

Rocketing revenue growth driven by outstanding performance in oil and gas trading operations

The Group’s operating results remained stable during the Period. Driven by the newly created oil and gas trading business, the Group achieved a revenue of approximately HK$3.94 billion (1H 2023: approximately HK$2.04 billion), a substantial year-on-year increase of approximately 93.1%; with its adjusted EBITDA of approximately HK$1.10 billion (1H 2023: approximately HK$1.14 billion) and net profits attributable to ordinary shareholders of the Company of approximately HK$350 million (1H 2023: approximately HK$380 million).

In addition, the Group continued to proactively reduce its US-dollar denominated loans, bringing down its interest-bearing debt ratio to approximately 10.4%, and delivered an annualized return on net assets of approximately 9.1%, having strong and healthy assets.

Continued to deepen oil and gas business  Enhanced the value of assets

During the Period, the Group’s oil and gas business achieved an operating output of 4.722 million barrels, representing a year-on-year increase of approximately 1.1%. Oil and gas production and sales registered operating revenue of approximately HK$730 million (1H 2023: approximately HK$730 million), and contributed a net profit attributable to ordinary shareholders of the Company of approximately HK$340 million (1H 2023: approximately HK$430 million). The oil and gas trading business achieved revenue of approximately HK$2.21 billion (1H2023: not applicable), with a trading volume of approximately 3.35 million barrels.

The Group continued to implement various measures to increase reserves and production, improve quality and maximize efficiency, stabilize the profitability of its oil and gas business and enhance the value of its oil and gas assets. During the Period, the Group facilitated steadily the development of Hainan Block 20 in Yuedong Oilfield, facilitated and implemented the expansion of the Caspian Bitumen Plant, and strived to realize the value of natural gas upon its commercialization in the Lofin Area at minimal cost. Meanwhile, through the continuous introduction of new processes and technologies and the scientific arrangement of production enhancement measures, the Group has been able to consistently promote the improvement of production volume and economic benefits.

Optimized management of overseas projects  Actively protected interests of shareholders

During the Period, the Group’s non-oil-and-gas businesses achieved a net profit attributable to ordinary shareholders of the Company of approximately HK$54.76 million (1H 2023: approximately HK$65.94 million). The Group was committed to promoting the engagement of the metals and mining investment team in the management and shareholders’ affairs of the Portland Aluminium Smelter and Coppabella and Moorvale coal mines joint venture projects, facilitating the optimization of the operation protocols, increasing production capacity and reducing costs. In addition, the Group actively and steadily advanced the share swap transaction between Alumina Limited and Alcoa Corporation and to realize maximization of shareholder interests.

Mr. Hao Weibao, Executive Director, Chairman and Chief Executive Officer of CITIC Resources, said, “In the first half of 2024, affected by prevailing geo-political tensions and weakening economic growth momentum, the macro environment was extremely challenging. Nevertheless, adhering to its three main strategies, namely ‘resolving risks, improving quality and efficiency, and optimizing management and governance’, and the Group adopted effective and refined management measures in all aspects of production and sales, and vigorously promoting applicable new technologies and processes, and building up a technological foundation and cost advantage for sustainable development. Looking forward to the future, the Group will seize industry opportunities through the dual drivers in investment and trading, actively explore investment opportunities in the upstream aluminium business and new energy sectors, and cultivate a second growth curve, promoting the oil trading business to steadily move to an annual trading volume of 10 million barrels. The Group aspires to become an influential listed company specializing in resources and energy with ‘dual drivers in energy and mineral product investment and commodity trading’ to the end of creating yet longer-term value for all stakeholders.”

– End –

For details of the 2024 interim results of CITIC Resources, please refer to the Group’s interim results announcement on the Hong Kong Stock Exchange and the Group’s website.

About CITIC Resources Holdings Limited (Stock code: 1205.HK)

CITIC Resources Holdings Limited has been listed on the Hong Kong Stock Exchange since 1997. Principal activities of CITIC Resources include the exploration, development and production of oil and coal, investments in bauxite mining, alumina refinery and aluminium smelting. CITIC Limited is the largest shareholder with about 60% interest in CITIC Resources.

Topic: Press release summary


Source: CITIC Resources Holdings Limited

Sectors: Metals & Mining, Daily Finance, Daily News, Oil & Gas

http://www.acnnewswire.com

From the Asia Corporate News Network

Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : ACN Newswire – https://en.acnnewswire.com/press-release/english/91960/

Tags: CITICnewsResources
Previous Post

OmniGuide Holdings Announces Successful Completion of Patient Study for Revolutionary iSTONE(TM) Laser-Guided Lithotripsy Technology

Next Post

CORRECTION FROM SOURCE: Doubleview Reports Maiden Mineral Resource Estimate

Dodgers’ Alex Vesia’s World Series availability unclear while dealing with ‘deeply personal family matter’ – CBS Sports

Dodgers’ Alex Vesia Faces Uncertainty Over World Series Availability Amid Personal Family Matter

October 24, 2025
Fewer pastors say economy is negatively impacting their churches in 2025: Lifeway Research – Christian Post

Growing Number of Pastors See Positive Economic Impact on Their Churches in 2025

October 24, 2025
Johnny Depp Set To Finally Make His Big Hollywood Comeback After Amber Heard Controversy – Yahoo

Johnny Depp Set for a Triumphant Hollywood Comeback Following Amber Heard Controversy

October 24, 2025
Duke professor Kyle Walsh to lead environmental institute of NIH after atypical selection process – The Duke Chronicle

Duke Professor Kyle Walsh Takes the Helm of NIH Environmental Institute After Unconventional Selection Process

October 24, 2025
‘A growing cancer’: The right’s growing acknowledgment of its own antisemitism – CNN

A Growing Cancer: How the Right Is Facing Its Own Antisemitism

October 24, 2025
Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

Ecology researchers work to update Columbia River fish advisories — but face new challenges in climate change – Longview Daily News

October 24, 2025

Unlock the Secrets to Growing a Giant Pumpkin Using Science

October 24, 2025
Rare dinosaur mummies help scientists recreate their prehistoric lives – ABC News – Breaking News, Latest News and Videos

Rare Dinosaur Mummies Unlock Secrets of Their Prehistoric Lives

October 24, 2025
Orange Cat Celebrates Halloween by Putting Candy Corn in Her Water Bowl – Yahoo

Orange Cat’s Hilarious Halloween Trick: Candy Corn in Her Water Bowl!

October 24, 2025
Project underway to upgrade technology on 911 towers in Kanawha County – WCHS

Kanawha County Launches Major Upgrade to 911 Tower Technology

October 24, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (883)
  • Economy (905)
  • Entertainment (21,776)
  • General (17,773)
  • Health (9,946)
  • Lifestyle (917)
  • News (22,149)
  • People (905)
  • Politics (915)
  • Science (16,115)
  • Sports (21,404)
  • Technology (15,884)
  • World (888)

Recent News

Dodgers’ Alex Vesia’s World Series availability unclear while dealing with ‘deeply personal family matter’ – CBS Sports

Dodgers’ Alex Vesia Faces Uncertainty Over World Series Availability Amid Personal Family Matter

October 24, 2025
Fewer pastors say economy is negatively impacting their churches in 2025: Lifeway Research – Christian Post

Growing Number of Pastors See Positive Economic Impact on Their Churches in 2025

October 24, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version