Persistence Resources Group (2489) investor relations material

Executive summary

• H1 2026 revenue rose 16.1% YoY to RMB352.295m and net profit rose 17.5% to RMB100.473m; higher realized gold prices supported results as output fell 23.5%.

• Gold output fell to 341.28 kg amid safety-related shutdowns; operations resumed in April after inspections, with further stoppages and rectification during the period.

• Most rectification items were closed by the report date; remediation of a crack hazard on the Songjiagou Open-Pit Mine’s northwest slope remained underway.

Financial highlights

• Revenue was RMB352.295m, up 16.1% YoY; average selling price rose 47.6%, partly offset by a 21.4% decline in sales volume.

• Gross profit increased 34.2% to RMB208.630m; gross margin rose to 59.2% from 51.2%, while cost of sales declined 2.9% to RMB143.665m.

• Net profit was RMB100.473m, up 17.5%; profit attributable to owners rose 26.9% to RMB79.620m.

• Basic and diluted EPS increased 5.7% to RMB3.32 cents from RMB3.14 cents.

Outlook and guidance

• H2 gold prices are expected to remain elevated but volatile; forecasts cited ranged from US$4,300–US$4,600/oz to more bullish year-end targets.

• Price direction will depend on U.S. monetary policy, geopolitical risks, central-bank demand and U.S. Dollar strength; no production or earnings guidance was stated.

• Safety inspections and rectification will continue; the remaining key item is the longer-cycle northwest slope remediation at Songjiagou Open-Pit Mine.