Core Viewpoint - The precious metals sector, particularly gold and silver, has seen significant price increases, with gold prices rising 47% this year, potentially marking the largest annual increase since 1979. Silver has outperformed gold, with a price increase of over 62% [2][3]. Group 1: Market Performance - On October 2, the first trading day after the National Day holiday in Hong Kong, gold and silver stocks surged, with several stocks, including China Silver Group, rising over 10%, and China Silver Group specifically increasing by 30% to reach a nearly four-year high [1]. - Year-to-date performance shows that China Silver Group has increased by 192.37%, while Tongguan Gold has surged by 552.72% [2]. Group 2: Price Trends and Predictions - Goldman Sachs has raised its price forecasts for gold, predicting prices could reach $4,000 per ounce by mid-2026 and $4,300 by the end of 2026, indicating further upward potential for gold prices [3]. - The gold-silver ratio, which measures the price relationship between gold and silver, currently stands at approximately 80:1, suggesting that silver may still have room for price increases [8][24]. Group 3: Supply and Demand Dynamics - The global silver market has experienced a supply-demand gap for five consecutive years, with an estimated shortfall of about 4,000 tons in 2025 [18]. - Industrial demand for silver is projected to continue growing, with its share of total demand expected to reach 58% by 2024 [20]. Group 4: Economic Context - The differing economic roles of gold and silver lead to divergent price movements under various economic conditions. Gold primarily serves as a safe-haven asset, while silver has both safe-haven and industrial attributes, which can drive its price higher during economic recoveries [13][14]. - Historical trends indicate that when the gold-silver ratio exceeds 80:1, silver is often undervalued relative to gold, presenting potential investment opportunities [22].

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號：340) NOTIFICATION LETTER 通 知 信 函 The following document(s) of Tongguan Gold Group Limited (the "Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.tongguangold.com and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively the "Websites"):- Please provide your email address to the Company via Hong Kong Securities Clearing Company Limited ("HKSCC" ...

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號：340) NOTIFICATION LETTER 通知信函 Dear Shareholder(s), 10 October 2025 The following document(s) of Tongguan Gold Group Limited (the "Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at www.tongguangold.com and The Stock Exchange of Hong Kong Limited at www.hkexnews.hk (collectively the "Websites"):- If you have not provided us with an email address but now would like to r ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） （股份代號：00340） 股東特別大會通告 茲通告潼關黃金集團有限公司（「本公司」）謹訂於二零二五年十月三十一日（星期五）上午 十時三十分假座香港灣仔港灣道1號會展廣場辦公大樓27樓2707A室舉行股東（「股東」）特 別大會（「股東特別大會」），以考慮並酌情通過（無論有否修訂）下列本公司決議案。除另 有所指外，本公司日期為二零二五年十月十日內容有關（其中包括）收購事項的通函（「通 函」，本通告構成其一部分）所界定的詞彙與本通告所使用者具有相同涵義： 普通決議案 1. 「動議： (a) 謹此批准、確認及追認宏勇投資有限公司（作為買方）（「買方」）與浩華控股有限 公司（作為賣方）（「賣方」）訂立的日期為二零二五年三月七日之買賣協議（「該協 議」）（註有「A」字樣之該協議副本已呈交股東特別大會，並由股東特別大會主席 簡簽以資識別），據此，買方有條件同 ...

地址為 或如彼未能出席，則大會主席 （三） 為本人╱吾等之代表，代表本人╱吾等出席本公司謹訂於二零二五年十月三十一日（星 期五）上午十時三十分假座香港灣仔港灣道1號會展廣場辦公大樓27樓2707A室舉行之股東特別大會或其任何續會（「大 會」），藉以考慮並酌情通過於二零二五年十月十日發出之召開大會通告（「通告」）所載決議案，並於該大會代表本人╱ 吾等以本人╱吾等之名義依照以下指示就決議案投票。 | 1. 批准該協議及當中擬進行之交易，包括根據特別授權發行及配發代價股份以及 | | | | --- | --- | --- | | 普通決議案 當中擬進行之所有其他交易。 | （四） 贊成 | （四） 反對 | 日期：二零二五年 月 日 簽署 （於百慕達註冊成立之有限公司） （股份代號：00340） 於二零二五年十月三十一日（星期五）舉行之股東特別大會之代表委任表格 本人╱吾等 （一） 地址為 為潼關黃金集團有限公司（「本公司」）股本中每股面值0.1港元普通股 （二） 股 之登記持有人，茲委任 （五） ： 附註： （一） 請用正楷填上全名及地址。請列明所有聯名持有人之姓名。 （二） 請填上登記於 閣下名下之普通股數目 ...

本通函僅作說明用途，且僅供 閣下考慮將於二零二五年十月三十一日（星期五）舉行的股東特別大會 上表決的決議案。本通函並不構成對發行或出售要約，亦非招攬收購、購買或認購本通函所述證券的 要約。 閣下如已將名下之潼關黃金集團有限公司股份全部出售或轉讓，應立即將本通函連同隨附之代表委任 表格送交買主或承讓人，或經手買賣或轉讓之銀行或股票經紀或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本通函全部或任何部分內容而產生或因倚賴該等內容而 引致之任何損失承擔任何責任。 此乃要件 請即處理 閣下如對本通函任何方面或 閣下應採取之行動有任何疑問，應諮詢股票經紀或其他註冊證券交易商、 銀行經理、律師、專業會計師或其他專業顧問。 （股份代號：00340） (I) 有關涉及根據特別授權發行代價股份 以收購目標公司100%股本之須予披露交易 及 (II) 股東特別大會通告 本封面所用詞彙與本通函「釋義」一節所界定者具有相同涵義。 潼關黃金集團有限公司謹訂於二零二五年十月三十一日（星期五）上午十時三十分假座香港灣仔港 ...

Group 1: Hong Kong Stock Market Highlights - Jinli Permanent Magnet (06680) rose over 5%, with institutions optimistic about valuation and performance in the rare earth sector [1] - Heyu-B (02256) increased by more than 7%, as the upcoming launch of Pimiatin is expected to provide continuous sales revenue [1] - Sa Sa International (00178) saw a rise of over 6%, with a 8.4% year-on-year increase in revenue for the second fiscal quarter [1] - Gold stocks continued their recent upward trend, with Chifeng Jilong Gold Mining (06693) up over 14% and Zijin Mining International (02259) up over 7% [1] - Xinjiang Xin Mining (03833) surged over 17%, with the company announcing a near doubling of stock price after its return to A-shares [1] Group 2: U.S. Stock Market Highlights - AMD (AMD.US) rose 3.83% after announcing a 6 GW computing power agreement with OpenAI for future AI infrastructure [3] - Trilogy Metals (TMQ.US) skyrocketed 211% following the U.S. government's announcement to acquire a 10% stake in the company [3] - AppLovin (APP.US) increased by 7.64%, amid reports of an SEC investigation regarding its advertising practices [3] - Ford Motor Company (F.US) fell 6.14% due to a significant fire at a key production facility, expected to halt operations until next year [4] - Soluna Holdings (SLNH.US) surged 12.78%, reporting an increase in mining capacity from 526 PH/s in August to 658 PH/s in September [4]

Core Viewpoint - The gold stocks have experienced significant gains, with notable increases in share prices for companies such as Chifeng Jilong Gold Mining, China Silver Group, and Zijin Mining International, driven by the surge in spot gold prices exceeding $4000 per ounce [1] Group 1: Company Performance - Chifeng Jilong Gold Mining saw its stock price rise over 15%, reaching a new high during trading [1] - China Silver Group's stock increased by more than 11%, also achieving a new high [1] - Zijin Mining International's shares rose nearly 7%, marking a record high [1] - Shandong Gold and Lingbao Gold both experienced stock price increases of over 5% and 3% respectively, with Shandong Gold hitting a new high [1] - Datang Gold's shares rose over 3%, contributing to the overall positive performance in the sector [1] Group 2: Market Trends - The spot gold price has surpassed $4000 per ounce, continuing to set new records [1] - Spot silver has also seen an increase of over 1%, currently priced at $48.3 per ounce [1] - Goldman Sachs has raised its gold price forecast for December 2026 from $4300 to $4900 per ounce, indicating a bullish outlook for the market [1] - The overall market risk remains skewed towards the upside, reflecting positive sentiment among investors [1]

Group 1 - Hong Kong gold stocks experienced significant gains, with Chifeng Jilong Gold Mining rising over 15%, China Silver Group increasing over 11%, Zijin Mining International up nearly 7%, Shandong Gold up over 5%, and Tongguan Gold up over 4% [1] - Among these, Chifeng Jilong Gold, Zijin Mining International, Shandong Gold, and Lingbao Gold reached new highs during trading [1] - The surge in gold stocks is attributed to the spot gold price surpassing $4000 per ounce, continuing to set new records [1]

Core Viewpoint - The recent surge in gold stocks is driven by increased investor demand for gold as a safe-haven asset due to ongoing geopolitical tensions and expectations of multiple interest rate cuts by the Federal Reserve, leading to record-high international gold prices [1] Company Performance - Chifeng Jilong Gold Mining (06693) rose by 6.57%, trading at 35.36 HKD - Zijin Mining Group (02259) increased by 3.8%, trading at 152.8 HKD - Shandong Gold Mining (01787) saw a rise of 2.97%, trading at 40.86 HKD - Tongguan Gold (00340) grew by 2.31%, trading at 3.1 HKD [1] Market Conditions - The ongoing "shutdown" crisis of the U.S. federal government and heightened expectations for multiple interest rate cuts by the Federal Reserve are influencing market dynamics - Continuous geopolitical conflicts in various regions are prompting investors to increase their gold holdings for risk mitigation [1] Gold Price Milestone - On Tuesday, the price of gold futures on the New York Commodity Exchange briefly surpassed 4000 USD per ounce, marking the first time in history that this threshold has been crossed [1]