Group 1 - Financial markets experienced a rebound in May due to easing global trade tensions, with major stock indices in the US and Europe showing significant increases [1] - Gold prices have been volatile, dropping over 5% from April's historical highs, while several Wall Street investment banks remain bullish on future gold prices [1] - Goldman Sachs predicts that international gold prices could reach $3,700 per ounce by the end of this year, while JPMorgan anticipates prices may exceed $4,000 per ounce by Q2 2026 [1][2] Group 2 - Bank of America forecasts gold prices to reach $4,000 per ounce by the end of this year or early 2026, driven by geopolitical uncertainties and concerns over the US government's fiscal situation [2] - Goldman Sachs emphasizes that gold is a safer hedge compared to Bitcoin, especially in the context of market downturns, due to its lower volatility and historical performance [2] - The following Hong Kong-listed companies are related to gold and precious metals: Zijin Mining (02899), Shandong Gold (01787), Zhaojin Mining (01818), Lingbao Gold (03330), China Gold International (02099), and others [3]

Group 1 - Hong Kong gold stocks experienced a collective rise, with Tongguan Gold (00340.HK) surging over 10% at one point [1] - Chifeng Gold (06693.HK) and Shandong Gold (01787.HK) both increased by 2.5% [1]

Group 1 - Shandong Gold (600547) closed at 30.0 yuan on May 30, 2025, down 2.66% from last week's 30.82 yuan [1] - The highest price during the week was 31.29 yuan on May 26, and the lowest was 29.24 yuan on May 29 [1] - The current total market capitalization of Shandong Gold is 134.203 billion yuan, ranking 1st in the precious metals sector and 95th among 5146 A-shares [1] Group 2 - Shandong Gold's subsidiary, Shanjin International, adjusted the guarantee limit between its subsidiaries, transferring a guarantee limit of 200 million yuan from Osino Gold Exploration and Mining (Pty) Ltd. to Osino Mining Investments Limited, increasing the latter's available guarantee limit to 300 million yuan [1] - Additionally, Shanjin International provided a new guarantee of 21.5628 million yuan to Sino Gold Tenya (HK) Limited, with a joint liability guarantee valid for two years from the contract signing date [1] - As of the announcement, the total guarantee amount for Shanjin International's subsidiaries is 455.4 million yuan, accounting for 35.08% of its most recent audited net assets, with no overdue guarantees reported [1]

Group 1 - The precious metals sector in the Hong Kong stock market has experienced a decline, with Lingbao Gold (03330.HK) dropping over 5% [1] - Chifeng Jilong Gold Mining (06693.HK) saw a decrease of more than 4% [1] - Shandong Gold Mining (01787.HK) fell by over 3% [1]

Summary of Shandong Gold's Conference Call Company Overview - **Company**: Shandong Gold Mining Co., Ltd. - **Industry**: Gold Mining Key Financial Performance - **2024 Revenue**: CNY 82.518 billion, up 39.21% YoY [2][3] - **2024 Total Profit**: CNY 5.682 billion, up 59.47% YoY [2][3] - **2024 Net Profit**: CNY 2.952 billion, up 26.8% YoY [2][3] - **Q1 2025 Revenue**: CNY 25.935 billion, up 36% YoY [2][6] - **Q1 2025 Net Profit**: CNY 1.026 billion, up 46.62% YoY [2][6] Production and Sales - **2024 Gold Production**: 46.17 tons, up 10.51% YoY [3] - **Q1 2025 Gold Production**: 11.87 tons, up 7.98% YoY [2][6] - **2025 Target**: Gold production of no less than 50 tons [2][7] Strategic Initiatives - **Focus Areas**: Production optimization, resource acquisition, project construction, technological innovation, and lean management [2][3] - **Key Projects**: Jiao Jia Gold Mine, New City Mine, and Ghana Namdini project [2][7] - **Investment in R&D**: CNY 863 million in 2024, with 71 patents filed [5] Cost Management - **Cost per Gram**: CNY 293, up from CNY 230 YoY [4][23] - **Reasons for Cost Increase**: Deeper mining operations, targeted low-grade ore extraction, and rising operational costs [24][25] ESG and Governance - **ESG Commitment**: Integration of ESG principles into corporate strategy, with ongoing green mine construction and carbon peak action plans [4][12] - **Governance Improvements**: Enhanced information disclosure systems and independent director effectiveness [13][11] Market Outlook - **Gold Price Trends**: Significant increases in gold prices due to geopolitical factors, with expectations for continued long-term growth [9][21][22] - **Global Demand**: Increasing demand for gold, with central banks continuing to add to reserves [22] Investor Relations - **Engagement Activities**: Over 150 investor communication events since 2024, enhancing transparency and stakeholder engagement [14] Future Plans - **2025 Goals**: Focus on production capacity enhancement, resource acquisition, and project construction to achieve gold production targets [7][26][27] - **Long-term Strategy**: Emphasis on sustainable development and shareholder returns through effective management and operational excellence [10][28]

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 告 全部或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責 任。 SHANDONG GOLD MINING CO., LTD. 山東黃金礦業股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：1787） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條 作 出。 茲載列山東黃金礦業股份有限公司（「 本公司 」）在 上 海 證 券 交 易 所 網 站 (www.sse.com.cn)刊登之《山 東 黃 金 礦 業 股 份 有 限 公 司 關 於 控 股 子 公 司 山 金 國 際 全 資 子 公 司 之 間 調 劑 擔 保 額 度 暨 擔 保 進 展 的 公 告》，僅 供 參 閱。 山東黃金礦業股份有限公司 董事長 李 航 中 國 濟 南，2025年5月28日 承董事會命 於 本 公 告 日 期，本 公 司 執 行 董 事 為 ...

Core Viewpoint - Shandong Gold Mining Co., Ltd. announced the adjustment of guarantee limits among its subsidiaries to enhance financing efficiency and support business development, with a total expected guarantee limit of CNY 45.54 billion [2][4]. Group 1: Guarantee Adjustment Details - The company approved a guarantee limit of CNY 455,400.00 million, with CNY 199,400.00 million allocated for subsidiaries with a debt-to-asset ratio below 70% and CNY 256,000.00 million for those above 70% [2][4]. - The adjustment involves transferring a guarantee limit of CNY 200,000.00 million from Osino Gold Exploration and Mining (Pty) Ltd. to Osino Mining Investments Limited, which has a lower debt-to-asset ratio [4][5]. - The adjusted guarantee limit for Osino Mining Investments Limited increased from CNY 100,000.00 million to CNY 300,000.00 million, while the limit for Osino Gold Exploration and Mining (Pty) Ltd. became zero [5][6]. Group 2: Guarantee Progress - Recently, a new guarantee of CNY 21,562.80 million was added for Sino Gold Tenya (HK) Limited, which falls within the approved guarantee limit [5][7]. - The total guarantee amount provided by Shandong Gold's subsidiaries remains unchanged at CNY 455,400.00 million after the adjustment [5][6]. - As of the announcement date, the total external guarantee amount by Shandong Gold's subsidiaries is CNY 62,962.80 million, accounting for 4.85% of the latest audited net assets of Shandong Gold [7][8].

证券代码：600547 证券简称：山东黄金 编号：临 2025-026 山东黄金矿业股份有限公司 关于控股子公司山金国际全资子公司之间调剂担保 额度暨担保进展的公告 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。 山东黄金矿业股份有限公司（以下简称"公司"）分别于 2024 年 12 月 19 日、2025 年 1 月 14 日召开第六届董事会第六十九次会议、2025 年第一次临时股 东大会审议通过《关于公司控股子公司山金国际为其子公司提供担保额度预计的 议案》；公司控股子公司山金国际黄金股份有限公司（以下简称"山金国际"） 分别于 2024 年 12 月 19 日、2025 年 1 月 15 日召开第九届董事会第九次会议及 第九届监事会第七次会议、2025 年第一次临时股东大会，均审议通过了《关于 为子公司提供担保额度预计的议案》。为满足公司控股子公司山金国际及下属子 公司日常经营和业务发展需要，提高山金国际融资决策效率，山金国际同意为合 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 455,400.00 万 ...

Group 1 - The core index, the CN Materials Composite Index, reported at 3281.67 points, with a 2.51% increase over the past month, 1.68% over the past three months, and a 6.63% year-to-date increase [1] - The index is designed to reflect the overall performance of different industry securities from Chinese mainland enterprises, classified according to the China Securities Index industry classification standards [1] - The top ten holdings of the CN Materials Composite Index include Zijin Mining (6.39%), Wanhua Chemical (2.21%), and others, indicating a concentration in specific companies [1] Group 2 - The market distribution of the CN Materials Composite Index shows that the Shanghai Stock Exchange accounts for 49.23%, Shenzhen Stock Exchange for 42.38%, and Hong Kong Stock Exchange for 7.82% [2] - In terms of industry composition, non-ferrous metals represent 41.47%, chemicals 37.94%, and other sectors such as non-metallic materials and steel also contribute to the index [2] Group 3 - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December, and can also be adjusted under special circumstances [3] - Adjustments to the index samples occur when there are changes in industry classification due to special events or when companies are delisted [3]

Core Viewpoint - Shandong Gold Mining Co., Ltd. has shown a positive stock performance with a closing price of 30.82 yuan, reflecting a 5.01% increase from the previous week, and is preparing for its annual shareholder meeting to discuss key financial and operational matters [1][5]. Company Announcements - The company will hold its 2024 annual shareholder meeting on June 11, 2025, to review 16 agenda items, including the annual reports and profit distribution plans [1][5]. - Shareholders can vote through trading systems or internet platforms, with the record date for A-share shareholders set for June 5, 2025 [2]. Performance Highlights - In 2024, the company achieved a gold production of 46.17 tons, with total revenue of 825.18 billion yuan and a net profit attributable to shareholders of 29.52 billion yuan [3][5]. - The company plans to provide a guarantee of up to 180 million USD for its Hong Kong subsidiary in 2025 to engage in futures and derivatives trading, as well as gold leasing and hedging activities [3][5].