Persistence Gold Group Ltd
HHKEX:24890.74
HKD
-0.02
(-3.29%)
ISIN
KYG7032M1015
CUSIP
G7032M101
Return %
Stock
S&P 500
1Y
-51.32
14.20
3Y
- -
81.12
5Y
- -
68.34
Capital Structure
CNY
•
in mil. unless spec.Working Capital
CNY
•
in mil. unless spec.Growth Rates
CNY
•
in mil. unless spec.Quarterly Revenue
CNY
•
in mil. unless spec.Quarterly Earnings Per Share
CNY
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in mil. unless spec.Quarterly Dividends Per Share
CNY
•
in mil. unless spec.Company Description
- CEO
- Xu Xin Shao
- Full Time Employees
- 933
- Sector
- Non-energy minerals
- Industry
- Precious metals
- Address
- Infinitus Plaza Yantai SD China
- IPO Date
- Dec 22, 2023
- Website
- persistenceresource.com
- Similar Companies
- Business
- Persistence Resources Group Ltd (2489.HK) is a Cayman Islands-incorporated investment holding company primarily engaged in the exploration, mining, processing, and sale of gold bullion in the People's Republic of China. The company operates through its 75%-owned subsidiary Yantai Zhongjia Mining Co. Ltd., which manages the Songjiagou Open-Pit Mine and Songjiagou Underground Mine located in the Muping-Rushan gold belt in Yantai City, Shandong Province; it processes ore into gold concentrate using in-house facilities including mineral processing plants and tailings dams, and sells refined Au99.95 gold ingots produced by third-party smelters. Core products and services encompass open-pit and underground gold mining engineering supported by supplier-provided raw materials, equipment, and machinery; gold concentrate production; and gold bullion sales, with mining infrastructure depreciated on a units-of-production basis tied to indicated mineral resources. Founded in 2005 and headquartered at Infinitus Plaza in Sheung Wan, Hong Kong, the company employs approximately 506 people and serves domestic markets in China as a subsidiary of Majestic Gold Corp., a Canadian firm; it was formerly known as Sinogold Resources Holdings Group Co. Ltd. before changing its name in May 2022. Operations focus on Shandong Province, recognized as the third-largest gold producer there in 2022 by mine output volume with a 2.6% market share per Frost & Sullivan. Recent financials reflect robust growth, with 2024 annual revenue rising 30.3% to RMB499.5 million and net profit increasing 54.4% to RMB146.6 million. In the past 1-2 years, Persistence Resources advances strategic expansions including a mine optimization plan to enlarge the Songjiagou Open-Pit Mine surface area by 150 meters south, deepen the pit to -171 meters above sea level, and add infrastructure such as benches, a water storage pool, drainage systems, substations, topsoil yards, and three excavators. It pursues selective acquisitions of high-quality underground gold mines in Muping District—shortlisting three targets with at least 10 tonnes of resources shallower than 1,000 meters, life-of-mine exceeding five years, and payback under 10 years—aligned with Yantai government consolidation policies designating Yantai Zhongjia as one of four approved consolidators. During the six months ended June 2025, the group acquired property, plant, and equipment assets; incurred costs for 52% equity in Yantai City Mujin Mining Company Limited; and in November 2025 announced plans for a proposed name change to Persistence Gold Group Ltd to better reflect its gold-focused operations, pending shareholder and Cayman Islands approvals at a December 2025 EGM.