Persistence Resources Group (2489) Q1 2026 earnings summary

Executive summary

• Q1 revenue rose 16.0% YoY to RMB160.722m and net profit increased 17.2% to RMB49.295m, despite a 35.0% decline in gold production following mine suspensions.

• Higher realized gold prices supported results; the average selling price rose 63.8%, partly offset by a 29.2% fall in sales volume.

Financial highlights

• Gross profit increased 44.9% YoY to RMB105.485m; gross margin expanded to 65.6% from 52.5%.

• Profit before tax was RMB78.826m vs RMB62.773m; profit for the period was RMB49.295m vs RMB42.071m.

• Profit attributable to owners rose 32.5% to RMB39.345m; basic and diluted EPS increased to RMB1.64 cents from RMB1.48 cents.

• Other expenses increased to RMB17.106m from RMB0.342m, mainly due to mine suspension costs; finance costs rose to RMB2.619m from RMB0.868m.

• Operating cash flow was RMB38.758m vs RMB66.530m; cash generated from operations was RMB66.171m vs RMB66.530m.

Segment performance

• Gold production after smelting was 149.27 kg (4,799.03 oz), down 35.0% YoY; the decline reflected suspension of Yantai Zhongjia and Yantai Mujin after the Zhaoyuan accident.

• Songjiagou Open-Pit and Underground mines and Denggezhuang Underground Mine resumed production after passing safety inspections by end-March.