New Mineral Resources (01231.HK) announced that the Group recorded an unaudited net loss for the nine months ended 30 September 2021 and is expected to record a net loss of not less than US $1 million for the year ended 31 December 2021. A net profit of $800000 was recorded for the year ended 31 December 2020.
The main reasons for the retrogression of the Group's annual performance for that year include (I) the expected decline in the Group's gross margin as a whole compared with the previous year, mainly due to the sharp decline in iron ore supply and poor quality in that year and the sharp decline in the market price of iron ore after June 30, 2021. And (ii) the Group suffered an impairment loss of approximately US $1.3 million on other current financial assets during the six months ended June 30, 2021 (compared with nil last year).