Summary by Moomoo AI
Mongolian Mining Corporation issued a profit warning that expects shareholders to record an aggregate profit of about $2.2 billion to $2.4 billion in fiscal 2023, a significant increase of about 270% to 300% from $5900 million in fiscal 2022. The increase was mainly due to an increase in the sales volume of LPG coal and the average selling price. The announcement is based on the Board's preliminary assessment of data that has not been reviewed or audited by an independent auditor. The Company will disclose further details of the results in the Annual Results Announcement to remind shareholders and potential investors to exercise caution when trading.