October 27, Hainan Mining released Q3 results of 2023, revenue and profit both increased during the reporting period, operating revenue was 1.3 billion yuan, up 24.33% year on year; net profit attributable to shareholders was 178 million yuan, up 10.55% year on year.

In the third quarter of 2023, in the face of the complex and volatile external environment, Hainan Mining focused on strategic resource industries and continued to improve production efficiency, iron ore and oil and gas production achieved substantial growth year-on-year, of which 1.56 million tons of raw iron ore production, a year-on-year increase of 17.91%; 681,400 tons of finished minerals production, a year-on-year increase of 16.86%; and 1.6754 million barrels equivalent of oil and gas production up 44.91% year-on-year.

It is worth mentioning that the company's natural gas production in the third quarter increased by 98.25% year-on-year, the main increment comes from the Bajiao natural gas field in Sichuan, with the dehydrocarbonization and pressurization project that was put into operation in April entering the stable production stage, the average daily natural gas production in the third quarter was stable and maintained at more than 2 million cubic meters.

In the first three quarters of 2023, Hainan Mining realized operating revenue of 3.7 billion yuan, a year-on-year decrease of 2.44%; net profit attributable to shareholders of 480 million yuan, a year-on-year decrease of 19.67%; net cash flow from operating activities of 1.123 billion yuan, a year-on-year increase of 17.68%.