CITIC Resources Holdings Limited provided consolidated earnings guidance for the year ended December 31, 2022. For the year, the company expected to record an unaudited consolidated profit attributable to Shareholders of approximately HKD 1.3 billion to HKD 1.4 billion, representing an increase of approximately 18% to 27% for the Reporting Period as compared to the year ended 31 December 2021. The expected increase in the consolidated profit attributable to Shareholders for the Reporting Period is primarily attributable to the following factors: (i) a satisfied improvement in operating results of the oil business of the Group for the Reporting Period as compared to the year ended 31 December 2021.

The improvement in operating results of the oil business of the Group as a whole was mainly attributable to an increase in the average realised crude oil price, application of new technology and stringent ongoing costs control for the Reporting Period; and (ii) a significant improvement in operating results of the Group's aluminium smelting segment and coal segment for the Reporting Period due to an increase in the average selling price of aluminium and coal as compared to the year ended 31 December 2021, as well as an increase of fair value gain on derivative financial instruments of electricity hedging agreements in Australia.