Persistence Resources Group (2489) Q1 2025 earnings summary

Executive summary

• Q1 revenue rose 26.8% YoY to RMB138.544m and net profit increased 15.9% to RMB42.071m; gold production grew 4.2%, including output from the late-February Yantai Mujin acquisition.

• Basic and diluted EPS increased 13.0% YoY to RMB1.48 cents.

Financial highlights

• Gross profit rose 26.5% YoY to RMB72.786m; gross margin was 52.5%, down from 52.7%.

• Profit before tax increased to RMB62.773m from RMB51.429m; income tax expense was RMB20.702m versus RMB15.130m.

• Profit attributable to owners rose 13.5% YoY to RMB29.693m; non-controlling interests accounted for RMB12.378m of net profit.

• Cost of sales increased 27.2% YoY to RMB65.758m, reflecting higher tailing processing fees, safety costs, depreciation and resources tax.

Segment performance

• Gold production after smelting was 229.68 kg (7,384.34 oz), up 4.2% YoY; Yantai Mujin added output, partly offset by safety inspections affecting Yantai Zhongjia production.

• Yantai Mujin contributed RMB7.341m revenue and a RMB0.392m loss before tax for 1–31 March 2025.

• Revenue growth reflected a 32.7% higher average selling price, partly offset by a 4.4% decline in sales volume.