HK Stock Market Move | After the release of performance (02489), the stock rose by over 15%. In the first half of the year, net profit increased by nearly 10% year-on-year. The company is the third largest gold miner in Shandong.

PERSISTENCE RES (02489) surged more than 15% after the performance announcement, reaching a 14.57% increase at the time of this report, trading at HK$1.73 with a transaction volume of HK$15.77 million. In terms of news, PERSISTENCE RES released its interim performance, reporting a revenue of 303 million yuan in the first half of the year, a 28.5% year-on-year increase. The net profit attributable to the parent company's shareholders increased by 9.56% to 62.762 million yuan, with a basic earnings per share of 3.14 cents. It plans to distribute an interim dividend of 3 Hong Kong cents per share. According to the company's prospectus, PERSISTENCE RES is a gold exploration, mining, and processing company that sells gold ingots processed by the company, primarily Au99.95 gold ingots. According to a Frost & Sullivan report, PERSISTENCE RES is the third largest gold mining company in Shandong Province in 2022, with a market share of 2.6% (based on mine output), but in terms of gold production, the combined market share of the two largest participants is approximately 78.3%.