Core Viewpoint - China Silver Group (00815) has completed the subscription agreement E, raising a total of HKD 24.75 million for the issuance of 55 million shares at a price of HKD 0.45 per share [1] Group 1 - The remaining subscription of 55 million shares represents approximately 1.84% of the company's issued share capital before the completion of the remaining subscription and about 1.81% after the completion [1] - The net proceeds from the remaining subscription, after deducting related expenses, are approximately HKD 24.69 million [1] - The completion of the subscription agreement E was contingent upon certain conditions being met, which have now been fulfilled [1]

呈交日期： 2026年1月22日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00815 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | | 庫存股份數目 | 每股發行/出售價 (註4) | 已發行股份總數 | | 於下列日期開始時的結存(註1) ...

CHINA SILVER GROUP LIMITED 中國白銀集團有限公 司 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告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 | 股東姓名╱名稱 | 緊接餘下認購事項 | | 緊隨餘下認購事項 | | | --- | --- | --- | --- | --- | | | 完成前之股權 | | 完成後之股權 | | | | 股份數目 | 概約 | 股份數目 | 概約 | | Rich Union Enterprises | | | | | | 附註1） Limited（ | 308,222,187 | 10.34% | 308,222,187 | 10.15% | | （附註1） 陳萬天先生 | 1,050,000 | 0.04% | 1,050,000 | 0.03% | | （附註2） 宋國生先生 | 456,797 | 0.02% | 456,797 | 0.02% | | 認購人A | 35,000,000 | 1.17% | 35,000 ...

Group 1 - Gold prices have reached record highs, with silver prices also nearing historical peaks, driven by increased demand for safe-haven assets due to the worsening Greenland crisis and a collapse in Japanese government bonds [1] - The Polish central bank has approved a plan to purchase up to 150 tons of gold, which will increase the country's total gold reserves to 700 tons, positioning Poland among the top 10 countries globally in terms of gold reserves [1] - UBS precious metals strategist Joni Teves indicated that diversification demand is the core driver of the current rise in gold prices, with institutional investors, retail investors, and central banks increasing their gold holdings to address macroeconomic uncertainties [2] Group 2 - Teves expects gold prices to have upward momentum in the first half of the year, potentially reaching $5,000 per ounce if concerns about the independence of the Federal Reserve continue to rise [2] - Silver is anticipated to benefit from the rise in gold prices and its own narrowing supply-demand gap, with a possibility of challenging $100 per ounce this year [2] - The copper market is expected to tighten due to demand driven by energy transition, leading to an upward shift in price levels [2] Group 3 - Related Hong Kong stocks in the gold and precious metals sector include Zijin Mining International, Chifeng Jilong Gold Mining, Shandong Gold Mining, Zhaojin Mining Industry, Lingbao Gold Company, Tongguan Gold, China Gold International, China Silver Group, and Mount Everest Gold [3]

Group 1 - Gold prices have reached record highs, with silver prices also nearing historical peaks, driven by increased demand for safe-haven assets due to the worsening Greenland crisis and a collapse in Japanese government bonds [1] - The Polish central bank has approved a plan to purchase up to 150 tons of gold, which will increase the country's total gold reserves to 700 tons, positioning Poland among the top 10 countries globally in terms of gold reserves [1] - UBS precious metals strategist Joni Teves indicated that diversification demand is the core driver of the current rise in gold prices, with institutional and retail investors, as well as central banks, increasing their gold holdings to address macroeconomic uncertainties [2] Group 2 - Teves expects gold prices to have upward momentum in the first half of the year, potentially reaching $5,000 per ounce if concerns about the independence of the Federal Reserve continue to rise [2] - Silver is anticipated to benefit from the rise in gold prices and its own narrowing supply-demand gap, with a possibility of challenging $100 per ounce this year [2] - The copper market is expected to tighten due to demand from energy transition, leading to an upward shift in price levels [2] Group 3 - Related Hong Kong stocks in the gold and precious metals sector include Zijin Mining International, Chifeng Jilong Gold Mining, Shandong Gold Mining, Zhaojin Mining Industry, Lingbao Gold, Tongguan Gold, China Gold International, China Silver Group, and Mount Everest Gold [3]

（文章来源：每日经济新闻） 每经AI快讯，中国白银集团(00815.HK)跌超5%，截至发稿跌5.41%，报0.7港元，成交额3817.35万港 元。 ...

Core Viewpoint - China Silver Group (00815) experienced a decline of over 5%, with a current price of 0.7 HKD and a trading volume of 38.17 million HKD. The drop is attributed to fluctuations in silver prices and changes in U.S. trade policy regarding tariffs on key minerals [1] Group 1: Market Reaction - On Thursday, silver prices initially fell by 7.3% but later recovered most of the losses [1] - The U.S. government, after a lengthy national security review, decided not to impose comprehensive tariffs on key minerals including silver and platinum, opting instead for bilateral negotiations and considering price floors [1] - This decision alleviated market concerns regarding potential comprehensive tariff measures from the U.S. [1] Group 2: Market Analysis - CITIC Futures noted that the previous price increase was driven by tariff expectations, tight spot supply, and market sentiment, with the rate of increase significantly outpacing the ability of fundamentals to absorb it [1] - Following the cooling of tariff expectations, profit-taking combined with a high volatility environment led to a rapid price pullback [1] - In the medium term, supply constraints, industrial demand (such as from photovoltaics), and the spillover effect from gold remain, but short-term adjustments will be necessary to correct the overly crowded trading structure [1]

消息面上，周四白银价格一度下跌7.3%，但随后收复了大部分跌幅。据报道，在完成长达数月的国家 安全审查后，特朗普政府决定暂不对包括白银和铂金在内的关键矿产征收全面关税，转而寻求双边谈判 并考虑设定价格底线。这一决定显著缓解了市场对美国采取全面关税措施的担忧。 智通财经APP获悉，中国白银集团(00815)跌超5%，截至发稿，跌5.41%，报0.7港元，成交额3817.35万 港元。 中信期货认为，前期上涨由关税预期、现货偏紧与资金情绪共振驱动，涨速显著快于基本面消化能力。 关税预期降温后，获利盘集中兑现叠加高波动率环境，引发价格快速回撤。从中期看，供给约束、工业 需求（光伏等）及黄金溢出效应仍在，但短期需通过时间或价格修正来消化过度拥挤的交易结构。 ...

Group 1 - The Hang Seng Index opened down 0.1% and the Hang Seng Tech Index fell by 0.55%, with the non-ferrous metals sector showing strength, particularly China Silver Group which rose over 2%, while Xpeng Motors dropped over 2% and Trip.com fell nearly 15% [1] - Dongwu Securities suggests that the window for the Federal Reserve to cut interest rates this year is limited, and the impact of fiscal stimulus on the economy is still forthcoming. If the Fed does not cut rates in Q1, the rebound of Hong Kong stocks will depend more on fundamental factors. The overall strategy for Hong Kong stocks remains a barbell approach, recommending a controlled allocation while waiting for more news [1] - According to China Merchants Securities, the lagging performance of Hong Kong stocks compared to A-shares is due to overseas liquidity dynamics. The US unemployment rate has dropped to 4.4%, supporting a 95.6% probability of the Fed pausing rate cuts in January. The stabilization of the Shanghai Composite Index above 4,000 points limits the downside for Hong Kong stocks. Despite lacking hot topics like commercial aerospace and military sectors, a recovery in sentiment may drive southbound capital to boost the tech sector [1] Group 2 - Industrial Securities prioritizes recommending leading internet companies in China's AI sector, expecting a resonance of buying from both domestic and foreign investors. They also suggest focusing on dividend assets in a low-interest-rate environment, including opportunities in insurance, banking, energy, property management, and public utilities. Additionally, they highlight new consumption trends, particularly in traditional service-oriented sectors, Gen Z consumption, and high-end consumer goods [2] - Zheshang International expresses optimism for sectors benefiting from policy support, such as new energy, innovative pharmaceuticals, and AI technology. They also see stable performance and stock price trends in undervalued state-owned enterprises, as well as local Hong Kong banks, telecommunications, and public utility dividend stocks benefiting from the interest rate cut cycle. The spring performance of Hong Kong stocks in 2026 is expected to be driven by "AI applications + PPI improvement + expanded domestic demand," with a focus on quality targets in these areas [2]

Core Insights - The Shanghai Gold Exchange has issued a notice emphasizing the need for market risk control due to significant fluctuations in precious metal prices and rising uncertainties [1] - Gold and silver prices have reached historic highs, with London gold surpassing $4600 per ounce and London silver touching $84.606 per ounce [1] - The A-share precious metals sector has shown strong performance, with several companies experiencing notable stock price increases [1] Market Risk Control - The exchange urges member units to closely monitor market changes and enhance risk emergency plans to maintain market stability [1] - Investors are advised to implement risk prevention measures and manage their positions rationally [1] Precious Metals Performance - As of the report, Mingpai Jewelry's stock rose over 10%, Shengda Resources increased by more than 8%, and several other companies, including China Silver Group and Hunan Silver, saw gains exceeding 5% [1] - Other notable companies such as Chow Tai Fook, China Gold International, and Chow Sang Sang also experienced stock price increases [1]