PERSISTENCE RES (02489) experienced a significant surge in its stock price during Monday's trading session, soaring by 15.89%. The sharp increase came on the heels of the company's announcement of its interim financial results, which revealed substantial year-over-year growth in both revenue and profit.

According to the earnings report, PERSISTENCE RES recorded a revenue of RMB 303 million for the first half of the year, marking a robust 28.5% increase compared to the same period last year. The company's profit attributable to shareholders reached RMB 62.762 million, representing a 9.56% year-over-year growth. Basic earnings per share stood at RMB 0.0314, and the board proposed an interim dividend of HK$0.03 per share, further boosting investor confidence.

PERSISTENCE RES, primarily engaged in gold exploration, mining, and processing, is known for selling gold ingots made from gold concentrates. The company's strong market position likely contributed to investor enthusiasm. As per a Frost & Sullivan report, PERSISTENCE RES ranked as the third-largest gold mining company in Shandong Province in 2022, holding a 2.6% market share by mine output. This positioning in one of China's key gold-producing regions underscores the company's significance in the industry, despite the dominance of the top two players who collectively hold about 78.3% of the market share.