Persistence Resources Group (2489) Q3 2025 earnings summary

Executive summary

• 9M 2025 revenue rose 23.4% YoY to RMB450.3m as higher gold prices outweighed lower sales volume; net profit was nearly flat at RMB117.9m.

• Gold production fell 5.9% to 641.8 kg amid mine safety work and temporary underground mine suspensions.

Financial highlights

• Gross profit increased 21.0% YoY to RMB231.9m; gross margin declined to 51.5% from 52.5%.

• Profit before tax rose to RMB182.2m from RMB172.4m; profit for the period was RMB117.9m versus RMB118.0m.

• Profit attributable to parent owners increased 3.0% to RMB88.1m; basic and diluted EPS rose 3.0% to RMB4.41 cents.

• Administrative expenses increased 50.9% to RMB46.4m; other expenses rose to RMB10.5m, including mine suspension costs and share-based payment.

Segment performance

• Gold production was 641.8 kg (20,633.8 oz), down 5.9% YoY; revenue increased 23.4% to RMB450.3m as average selling price rose 34.6%, partly offset by an 8.3% volume decline.

• Cost of sales rose 26.1% to RMB218.5m, reflecting Yantai Mujin inclusion, higher tailing processing, drilling, excavator, explosives, depreciation and resource tax costs.

• Production was affected by reinforced slope management, the DGZ Mine suspension from July to September, and a Songjiagou Northern Mining Area suspension in September.