Mongolia Energy Corporation Limited
0.50
HKD
+0.00
(-0.99%)
ISIN
BMG6260K1595
CUSIP
G6260K159
Return %
Stock
S&P 500
1Y
-31.51
14.20
3Y
28.21
81.12
5Y
-48.98
68.34
Capital Structure
HKD
•
in mil. unless spec.Working Capital
HKD
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in mil. unless spec.Growth Rates
HKD
•
in mil. unless spec.Semi-annual Revenue
HKD
•
in mil. unless spec.Semi-annual Earnings Per Share
HKD
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in mil. unless spec.Semi-annual Dividends Per Share
HKD
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in mil. unless spec.Company Description
- CEO
- Yvette Ong
- Full Time Employees
- 777
- Sector
- Energy minerals
- Industry
- Coal
- Address
- 118 Connaught Road West Hong Kong Hong Kong
- IPO Date
- Aug 23, 1972
- Website
- mongolia-energy.com
- Similar Companies
- Business
- Mongolia Energy Corporation Limited is a Hong Kong-based investment holding company principally engaged in coal mining and related resources businesses. The company operates primarily through its indirect wholly-owned subsidiary MoEnCo LLC in Mongolia and conducts coal mining, production, processing, and sales of coal products, including cleaned coking coal and steam coal. It also provides coal transportation services, supplying mainly the Chinese steel and coking industries. Mongolia Energy's key asset is the Khushuut Coking Coal Project located in Western Mongolia, where it plans to expand capacity with a new dry coal processing plant capable of processing five million tonnes per annum, expected to commence operation in the second half of 2025. The company operates across Mongolia, China, and Hong Kong. Founded in 2002, Mongolia Energy is listed on the Hong Kong Stock Exchange under the ticker 276. Recent major developments include the company’s ongoing efforts to resolve tax disputes with the Mongolian government, including legal claims to annul reassessments for tax years 2017 to 2020 and a settlement agreement to pay outstanding royalty taxes for 2022 and 2023 in installments. The management has also been actively engaging with government officials in both Mongolia and China to seek resolutions and support. Operationally, the firm faces challenges from a global economic slowdown and China’s steel sector decline, leading to a projected significant fall in interim revenue and gross profit for the six months ending September 2025. The company expects gross profit to drop to no more than HK$85 million, down from HK$640 million the previous year, primarily due to weaker demand and declining coking coal prices. Mongolia Energy continues to finalize financial results while maintaining its coal production and export activities with strategic emphasis on flexibility amid market uncertainties. The company remains focused on delivering coking coal products to major steel and coking plants in China, reflecting its critical role in the coking coal supply chain in the region. Mongolia Energy’s strategic initiatives also include upgrading its processing infrastructure to enhance operational efficiency and product quality, positioning the company to respond to evolving market conditions and regulatory environments.