公司名稱: 山東黃金礦業股份有限公司 呈交日期: 2024年7月2日 I. 法定/註冊股本變動 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年6月30日 狀態: 新提交 致：香港交易及結算所有限公司 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01787 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 858,986,178 | RMB | | | 1 RMB | | 858,986,178 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 858,986,178 | RMB | | | 1 RMB | | 858,986,178 | | 2. 股份分 ...

证券代码：600547 证券简称：山东黄金 编号：临 2024-054 山东黄金矿业股份有限公司 关于为香港全资子公司融资提供担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 被担保人名称：山东黄金矿业（香港）有限公司（以下简称"山东黄金 香港公司"）。 本次担保金额及已实际为其提供的担保余额：山东黄金矿业股份有限公 司（以下简称"公司"）于2024年度向山东黄金香港公司提供总额不超过180,000.00 万美元的担保。公司本次拟与国家开发银行香港分行（以下简称"国家开发银行 香港分行"）签署《外汇贷款保证合同》，为山东黄金香港公司提供的担保金额 为3亿美元（其中0.3亿美元以等值人民币形式发放）。截止本公告日，公司累计 已实际为其提供的担保余额为134,500.00万美元（折合人民币957,088.55万元）（不 含本次担保），占公司最近一期经审计归属于上市公司股东净资产的28.93%。 特别风险提示：被担保人香港公司截至2023年12月底的资产负债率为 69.15%，接近70%，敬请投资者注意 ...

证券代码：600547 证券简称：山东黄金 编号：临 2024-053 山东黄金矿业股份有限公司 第六届董事会第六十一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 山东黄金矿业股份有限公司（以下简称"公司"）第六届董事会第六十一次 会议于2024年6月19日以通讯会议的方式召开。本次会议应参会董事8人，实际参 会董事8人。会议的召开符合《公司法》《公司章程》《上海证券交易所股票上 市规则》《香港联合交易所有限公司证券上市规则》、香港《公司条例》等监管 规定，会议合法有效。 二、董事会会议审议情况 会议以记名投票表决方式，形成如下决议： （一）审议通过了《关于香港全资子公司向银行申请贷款的议案》 山东黄金矿业(香港)有限公司（以下简称"山东黄金香港公司"）为公司在 香港设立的全资子公司，为满足香港公司及其子公司生产运营、存量融资到期置 换等资金需求，有效利用境外资金市场，拟与国家开发银行香港分行签订《贷款 协议》，根据协议约定，国家开发银行香港分行将向山东黄金香港公司提供3亿 美元（ ...

Investment Rating - The investment rating for Shandong Gold is "Buy" (maintained) [1] Core Views - Shandong Gold reported a revenue of 59.275 billion yuan in 2023, an increase of 18% year-on-year, and a net profit attributable to shareholders of 2.328 billion yuan, up 86.84% year-on-year. For Q1 2024, the revenue was 18.957 billion yuan, a year-on-year increase of 44.73%, with a net profit of 700 million yuan, up 59.48% year-on-year [2] - The company's performance growth in 2023 was primarily driven by rising gold prices and continuous capacity release. The average international gold price in 2023 was 1940.54 USD/ounce, an increase of 8.0% year-on-year. The company managed to sell its gold at an average price 2.79 yuan/kg higher than the market average [2] - In Q1 2024, the average international gold price reached 2070 USD/ounce, a year-on-year increase of 10%, marking a historical high. The company's self-produced gold output in Q1 2024 was 11.91 tons, up 26.89% year-on-year [2] Summary by Sections Financial Performance - In 2023, Shandong Gold achieved a revenue of 59.275 billion yuan and a net profit of 2.328 billion yuan, with a year-on-year growth of 18% and 86.84% respectively. For 2024, the expected revenue is 69.567 billion yuan, with a net profit of 3.731 billion yuan [6] - The gross margin for 2023 was 16.6%, expected to rise to 19.1% in 2024. The return on equity (ROE) is projected to increase from 7.0% in 2023 to 10.1% in 2024 [6][7] Production and Capacity Expansion - The company is accelerating the development of several projects, including the Namutini mine project in Ghana and the expansion of the Linglong mining area. The expected gold production for 2024 is no less than 47 tons [4] - The company has successfully integrated mining rights for the Sanshandao gold mine and is actively advancing its construction, with production from this mine expected to contribute significantly to future output [4] Cost Management and Efficiency - In Q1 2024, the company achieved a gross margin of 14.56% and a net margin of 5.57%, with a notable reduction in management expenses [3] - The company continues to implement cost reduction and efficiency improvement measures, standardizing production and management processes [3]

Summary of Shandong Gold Conference Call Company Overview - **Company**: Shandong Gold Mining Co., Ltd. - **Industry**: Gold Mining - **Ownership**: Controlled by Shandong Provincial Government through Shandong Gold Group, holding over 40% of shares [9] Key Points and Arguments 1. **Core Business Focus**: Shandong Gold's primary business is gold mining, contributing over 90% to the company's profits, indicating a pure focus on gold [2] 2. **Incremental Growth**: The company is in the process of acquiring and integrating new mining assets, particularly the Xinyu Gold Mine, which is expected to significantly enhance production capacity [2][3] 3. **Resource Quality**: The average gold grade of the Xinyu Gold Mine is reported at 4.44 grams per ton, which is a substantial improvement over the current average of 1.7 grams per ton [3] 4. **Production Capacity**: Post-acquisition, the expected annual gold production is projected to exceed 13 tons, representing a potential increase of over 30% from current levels [4] 5. **Resource Reserves**: Shandong Gold currently holds over 1,400 tons of gold resources, which could increase to approximately 2,000 tons with the inclusion of the Xiling Gold Mine [5][14] 6. **Valuation Methodology**: The valuation approach is shifting towards resource-based metrics, with a theoretical annual production capacity of 70 tons based on a 30-year mining plan [7] 7. **Market Conditions**: The gold market is currently experiencing a bullish trend, with prices reaching historical highs, which is expected to support the company's future valuation [8] 8. **Historical Performance**: The company has undergone several phases of growth since its listing in 2003, with significant acquisitions and expansions during favorable market conditions [10][11] 9. **Future Plans**: The company aims to achieve a production target of 80 tons by 2024, continuing its expansion strategy [13] 10. **Profit Sensitivity**: For every increase of 100 yuan per gram in gold prices, the company could see an increase in revenue of approximately 11.1 billion yuan and a net profit increase of around 800 million yuan [18][20] Additional Important Insights - **Operational Stability**: The company has maintained stable production levels across its main mines, with the Jiaojia Gold Mine being the largest contributor at 9.4 tons last year [15][16] - **Future Production Estimates**: By 2027-2028, the theoretical production capacity could reach 70 tons, indicating significant growth potential [17] - **Market Valuation**: Historical valuation levels have been around 40 times earnings, suggesting a strong correlation between gold prices and market capitalization [20] - **Investment Outlook**: The company is positioned to benefit from both volume and price increases in the gold market, with a positive outlook for future growth [21]

Summary of Shandong Gold Mining Co., Ltd. 2023 Earnings Call Company Overview - **Company**: Shandong Gold Mining Co., Ltd. - **Date of Call**: June 14, 2024 - **Participants**: Management team including Chairman Li Hang, Vice Chairman Liu Xin, and independent directors. Key Points Industry Insights - **Macroeconomic Factors**: Global inflation is decreasing, and the Federal Reserve's monetary policy is shifting, leading to increased gold prices, which have reached new highs in 2023. This enhances gold's appeal as a safe-haven asset [4][6]. - **Gold Reserves**: As of April 2024, China's gold reserves stand at 72.8 million ounces (approximately 2,264.33 tons), marking the 18th consecutive month of increases [4]. - **Geopolitical Risks**: Ongoing geopolitical tensions, such as the Russia-Ukraine conflict, are contributing to heightened demand for gold as a hedge against uncertainty [6]. Operational Performance - **Production Metrics**: In 2023, the company produced 41.78 tons of gold, an 8.03% increase year-over-year. Domestic mines contributed 35.34 tons, up 8.37% [7]. - **Revenue Growth**: The company reported a revenue of 59.275 billion yuan, a 17.83% increase from the previous year [22]. - **Profitability**: Net profit reached 2.328 billion yuan, reflecting an 86.57% increase year-over-year, with a gross profit margin of 48.91% [24][26]. Strategic Initiatives - **Resource Acquisition**: The company is focusing on resource acquisition to enhance production capacity, including the acquisition of mining rights and stakes in other mining companies [11][33]. - **Digital Transformation**: Plans for 2024 include advancing digital transformation and smart upgrades to improve operational efficiency and safety [12][21]. - **Sustainability Efforts**: The company is committed to ESG principles, integrating them into its operational strategy and enhancing its reporting standards [21][43]. Financial Health - **Balance Sheet**: As of the end of 2023, total assets were 134.599 billion yuan, with total liabilities of 81.34 billion yuan, resulting in an asset-liability ratio of 60.43% [27][28]. - **Cash Flow**: The net cash flow from operating activities was 6.849 billion yuan, a significant increase of 130.45% from the previous year [28]. Future Outlook - **Production Goals**: The company aims to increase gold production through internal capacity enhancements, ongoing projects, and strategic acquisitions [31][32]. - **Market Positioning**: Shandong Gold plans to leverage its competitive advantages in resource management and operational efficiency to maintain its leading position in the domestic gold industry [14][36]. Governance and Investor Relations - **Board Structure**: The company adheres to a robust governance framework, with independent directors playing a crucial role in decision-making and oversight [19][15]. - **Investor Engagement**: The company emphasizes transparent communication with investors, having conducted numerous meetings and interactions to address shareholder concerns [20]. Additional Insights - **Challenges and Risks**: The company acknowledges the need to continuously adapt to market conditions and regulatory changes, particularly in the context of ESG compliance and sustainable practices [42][43]. This summary encapsulates the key insights and strategic directions discussed during the earnings call, highlighting Shandong Gold's operational performance, market positioning, and future growth strategies.

Key Points - **Industry/Company**: Shandong Gold Mining Co., Ltd. - **Event**: Earnings briefing meeting - **Host**: Tang Qi, Secretary of the Board of Directors of Shandong Gold Mining Co., Ltd. - **Support**: Shanghai Stock Exchange and Shanghai Roadshow Center - **Format**: Online interactive session - **Purpose**: Detailed explanation of information disclosure regulations [1] Core Views and Arguments - **Earnings Briefing**: Company management will provide detailed answers according to information disclosure regulations [1] Other Important Content - **No additional content provided**

山东黄金矿业股份有限公司 关于公司控股子公司银泰黄金为其子公司 提供担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 被担保人名称：上海盛鸿融信国际贸易有限公司、宁波永盛融信国际贸 易有限公司。 证券代码：600547 证券简称：山东黄金 编号：临 2024-052 二、担保进展情况 本次担保金额及已实际为其提供的担保余额：山东黄金矿业股份有限公 司（以下简称"公司"或"山东黄金"）控股子公司银泰黄金股份有限公司（以 下简称"银泰黄金"）为其合并报表范围内的全资及控股子公司提供担保，预计 担保总额度为350,000.00万元。近日，银泰黄金为上海盛鸿融信国际贸易有限公 司提供担保金额为5,200.00万元，为宁波永盛融信国际贸易有限公司提供担保金 额为6,500.00万元。截至本公告日，银泰黄金对其子公司担保总余额为57,679.00 万元，占银泰黄金最近一期经审计净资产的比例为4.99%，占山东黄金最近一期 经审计净资产的比例为1.74%。 本次担保是否有反担保：无 对外担保逾期的累计数量： ...

Investment Rating - The report maintains a "Buy" rating for the company [8] Core Views - The company has shown strong performance with revenue growth driven by rising gold prices, achieving a revenue of 59.275 billion yuan in 2023, a year-on-year increase of 17.83%, and a net profit of 2.328 billion yuan, up 86.57% year-on-year [4][8] - The company is expected to continue its growth trajectory with projected revenues of 69.780 billion yuan, 76.629 billion yuan, and 83.174 billion yuan for 2024, 2025, and 2026 respectively, reflecting growth rates of 17.72%, 9.81%, and 8.54% [8][9] Company Overview - The company has a total share capital of 4.473 billion shares and a market capitalization of 130.2 billion yuan [2] - The company has a debt-to-asset ratio of 60.4% and a price-to-earnings ratio of 69.31 [2] Financial Performance - In Q1 2024, the company reported a revenue of 18.957 billion yuan, a year-on-year increase of 44.73%, and a net profit of 700 million yuan, up 59.48% year-on-year [4] - The gross margin for self-produced gold increased by 5.57 percentage points to 48.91% in 2023 [4] Production and Operations - The company produced 41.78 tons of gold in 2023, an increase of 8.03% year-on-year, maintaining its position as the leading gold producer in China [5] - The company plans to produce no less than 47 tons of gold in 2024 [5] Exploration and Resource Development - The company completed 480,000 meters of exploration drilling in 2023, adding 36.6 tons of gold resources, bringing total gold resources to 1,431.30 tons [6] - The company has successfully obtained mining rights for the Sanshandao gold mine, marking a step towards integrating exploration rights [6] Market Outlook - The report indicates a favorable long-term outlook for gold prices due to ongoing geopolitical tensions and economic conditions, despite short-term fluctuations [7] - The expectation of only one interest rate cut by the Federal Reserve this year may support gold's investment appeal [7]

证券代码：600547 证券简称：山东黄金 公告编号：临 2024-050 山东黄金矿业股份有限公司 关于召开 2023 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 会议召开时间：2024 年 6 月 13 日（星期四）下午 15:00-16:30 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2024 年 6 月 6 日（星期四）至 6 月 12 日（星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 hj600547@163.com 进行提问。公司将在 2023 年度业绩说明会（以下简称"本 次业绩说明会"）上对投资者普遍关注的问题进行回答。 山东黄金矿业股份有限公司（以下简称"公司"）已于 2024 年 3 月 30 日发 布公司 2023 年年度报告，为便于广大投资者更全面深入地了解公司生产经营状 况，公司计划于 2024 ...