Persistence Resources Group (2489) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 25.9% to RMB628.8m as average gold selling prices increased 37.7%, while production fell 6.3% and net profit edged down 1.6% to RMB144.3m.

• Profit attributable to owners increased 5.6% to RMB110.6m; basic and diluted EPS rose 1.1% to RMB5.30 cents. No final dividend was recommended.

Financial highlights

• Revenue was RMB628.8m vs RMB499.5m; gross profit was RMB331.4m vs RMB253.8m, up 30.6%.

• Profit before tax was RMB242.9m vs RMB213.8m; net profit was RMB144.3m vs RMB146.6m, with income tax expense rising to RMB98.5m from RMB67.2m.

• Other expenses increased to RMB21.6m from RMB1.7m, including mine suspension costs and a loss on road demolition; finance costs rose to RMB8.8m from RMB2.5m.

Outlook and guidance

• 2026 production is expected to be relatively stable following resumption at DGZ and Songjiagou Underground mines; with operations normal, results are expected to improve from Q2 2026.

• Yantai Mujin plans to complete HH Mine infrastructure by February 2027, CH Mine by December 2027, and DGZ Mine’s No. 3 shaft in Q2 2028; full operation of its three mines is expected in 2028.

• Overseas gold-mine acquisition opportunities are being pursued using October 2025 placing proceeds; timing and gold-price outcomes remain dependent on market conditions.