Persistence res announced on November 25, 2024, the signing of a share purchase and capital increase agreement to acquire 52% of the target company's equity, at a price of 81,900,000 RMB. Upon completion, the target company will become an indirect non-wholly-owned subsidiary of Persistence res, controlling the Mouping project. This move aims to expand the group's mineral resources and enhance ore processing capabilities. The acquisition involves the equity transfer of Zhaojin, with PRGRHK2 Ltd taking the target company's approximately 18% equity held by Zhaoyuan gold at the highest listing price of 18,900,000 RMB. According to chapter 14 of the listing rules, the acquisition constitutes a discloseable transaction, as its highest applicable percentage is above 5% but below 25%. The financial statements of the target company...Show More

Persistence res announced on November 25, 2024, the signing of a share purchase and capital increase agreement to acquire 52% of the target company's equity, at a price of 81,900,000 RMB. Upon completion, the target company will become an indirect non-wholly-owned subsidiary of Persistence res, controlling the Mouping project. This move aims to expand the group's mineral resources and enhance ore processing capabilities. The acquisition involves the equity transfer of Zhaojin, with PRGRHK2 Ltd taking the target company's approximately 18% equity held by Zhaoyuan gold at the highest listing price of 18,900,000 RMB. According to chapter 14 of the listing rules, the acquisition constitutes a discloseable transaction, as its highest applicable percentage is above 5% but below 25%. The financial statements of the target company as of December 31, 2023, and June 30, 2024, respectively show a net loss after tax of 50,770 thousand RMB and 13,028 thousand RMB. After the acquisition is completed, Persistence res will be able to align the investment return of the Mouping project with the overall business strategy of the group, expecting to bring substantial returns to shareholders.