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Mongolia Energy ( (HK:0276) ) just unveiled an update.
Mongolia Energy Corporation Limited announced a decrease in its unaudited revenue and gross profit for the financial year ending March 31, 2025, primarily due to declining coal prices. The company is also facing potential impairment losses related to its Khushuut mine assets, which could significantly impact its financial statements, although these losses are non-cash adjustments. Additionally, the company is dealing with tax issues in Mongolia, with significant outstanding tax demands from the Mongolian General Tax Office. The outcome of a re-hearing by the Tax Dispute Resolution Committee could affect the company’s operations, as MoEnCo’s bank accounts have been frozen, and further actions could be taken if the tax issues remain unresolved.
More about Mongolia Energy
Mongolia Energy Corporation Limited is a company incorporated in Bermuda with limited liability, primarily involved in the energy sector. The company, along with its subsidiaries, focuses on coal mining and related activities, with a significant market presence in Mongolia.
Average Trading Volume: 70,919
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$94.06M
For an in-depth examination of 0276 stock, go to TipRanks’ Stock Analysis page.