Summary by Moomoo AI
PERSISTENCE RES Group has released a profit forecast, expecting to record a net profit of approximately RMB 0.146 billion for the fiscal year ending December 31, 2024, an increase of about 54% compared to RMB 94.94 million for the same period in 2023, with a growth of approximately RMB 51 million. The company stated that the growth in performance is mainly attributed to the increase in gross profit driven by the rise in average product selling prices, as well as the increase in interest income from the balance of cash and cash equivalents.The aforementioned performance forecast data is based on the management’s preliminary assessment of the unaudited management accounts. Some of the growth benefits have been offset by increased administrative expenses following the listing, rising exploration costs, and professional fees incurred from the acquisition of the gold mine. The company expects to announce the audited details of the 2024 annual results by the end of March 2025.
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