HK Stock Market Move | Persistence RES (02489) fell more than 6%, Songjia Valley underground mine suspended production, and suffered multiple reductions in holdings by non-executive directors this month.

PERSISTENCE RES (02489) fell more than 6%, as of the time of writing, down 6.49% to 1.44 Hong Kong dollars, with a trading volume of 16.51 million Hong Kong dollars. In terms of news, PERSISTENCE RES announced at noon that its subsidiary, Yantai Zhongjia Mining Co., Ltd., had its underground mine safety production license for the Songjiagou North Mine area expire on September 11, 2025. Yantai Zhongjia had submitted relevant documents to the Shandong Province Emergency Management Department in August 2025 to apply for an extension of the Songjiagou underground mine safety production license. Due to surprise safety inspections by the emergency department during the application process, Yantai Zhongjia voluntarily decided to temporarily suspend the main production activities at the Songjiagou underground mine starting from September 1 to allow for a comprehensive inspection of hidden dangers by the emergency department and to facilitate the company to effectively follow up on any safety rectification work (if required) in order to support the renewal application of the Songjiagou underground mine safety production license. The announcement stated that due to the increased intensity of safety inspections being carried out this year, Yantai Zhongjia management estimates that the emergency department will issue a new Songjiagou underground mine safety production license to the company by the end of October. In addition, according to the latest information from the Hong Kong Stock Exchange, on September 11, non-executive director Chen Libei sold 1.7 million shares of PERSISTENCE RES at an average price of 1.5353 Hong Kong dollars per share, totaling approximately 2.61 million Hong Kong dollars. After the sale, the latest held share amount is 13.705 million shares, with a current holding percentage of 0.69%. It is worth noting that Chen Libei has sold shares of PERSISTENCE RES multiple times this month.