Persistence Gold Group Ltd — Earnings Release 2024

Mar 24, 2025

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PERSISTENCE RESOURCES GROUP LTD

集海資源集團有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2489)

PROFIT ALERT

This announcement is made by Persistence Resources Group Ltd (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company and potential investors that, based on the preliminary review of the management accounts of the Group for the year ended 31 December 2024 (the "Relevant Period") and the information currently available to the Board, the Group expects to record an increase in net profit for the Relevant Period by approximately RMB51 million, which represents an increase of approximately $54\%$ as compared to the year ended 31 December 2023 (the "Corresponding Period"), to approximately RMB146 million (net profit for the Corresponding Period: RMB94,939,000).

The increase in net profit for the Relevant Period was primarily attributable to: (i) the increase in gross profit as a result of the higher average selling price; and (ii) an increase in interest income earned on the Group's cash and cash equivalent balances but was partially offset by an increase in post-listing administrative expenses, exploration cost and professional fee incurred for acquisition of a gold mine.

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The information contained in this announcement is based only on the preliminary assessment by the Board upon its review of the unaudited management accounts of the Group for the Relevant Period and other information currently available to the Company which has not been completely reviewed by the Company's independent auditor. The interim results of the Group may be subject to adjustments following further review by the Board and the audit committee of the Company. Shareholders of the Company and potential investors are advised to refer to the details of the Company's annual results announcement for the year ended 31 December 2024 expected to be announced by the end of March 2025.

By order of the Board
Persistence Resources Group Ltd
Shao Xuxin
Chairman, Chief Executive Officer and Executive Director

Hong Kong, 24 March 2025

As at the date of this announcement, the Board comprises Dr. Shao Xuxin, Mr. Mackie James Thomas and Mr. Lo Cheuk Kwong Raymond as executive Directors; Mr. Chen Li Bei as nonexecutive Director; and Dr. Malaihollo Jeffrey Francis A, Mr. Chan Ngai Fan, Dr. Zeng Ming and Ms. Liu Li as independent non-executive Directors.

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