Persistence RES(02489) completed the acquisition of 52% equity stake in Moujin Mining Industry in Yantai City.

ANNOUNCEMENT: PERSISTENCE RES (02489) announces that all preconditions for the increased capital have been met, and the transaction has been completed in accordance with the terms of the Share Purchase and Capital Increase Agreement on the date of this announcement. Upon completion, through PRGRHK2 Ltd and MYG, the company holds approximately 52.0% equity in the target company (Yantai Moujin Mining Limited) and becomes its controlling shareholder. Therefore, the target company has become a non-wholly owned subsidiary of the company, and the financial performance of the target company will be consolidated into the group's financial statements.