PERSISTENCE RES (02489) surged over 15% following its earnings announcement. As of press time, the stock was up 14.57% to HK$1.73, with trading volume reaching HK$15.77 million.

On the news front, PERSISTENCE RES released its interim results showing H1 revenue of RMB 303 million, representing a 28.5% year-over-year increase. Profit attributable to shareholders reached RMB 62.762 million, up 9.56% compared to the same period last year. Basic earnings per share stood at RMB 0.0314, with the company proposing an interim dividend of HK$0.03 per share.

According to the company's prospectus, PERSISTENCE RES is a gold exploration, mining and processing company that sells gold ingots made from gold concentrates processed by the company, primarily Au99.95 gold ingots. Based on a Frost & Sullivan report, PERSISTENCE RES was the third-largest gold mining company in Shandong Province in 2022, holding a 2.6% market share by mine output. However, in terms of gold mine production, the combined market share of the top two players accounts for approximately 78.3%.