证券代码：600547 证券简称：山东黄金 编号：临 2025-074 山东黄金矿业股份有限公司 第七届董事会第六次会议决议公告 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"）第七届董事会第六次会议于 2025年11月10日以通讯方式召开。会议应参会董事9人，实际参会董事9人。会议 的召开符合《公司法》《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》等监管规定以及《公司章程》规定，会 议合法有效。 具体内容详见公司同日于指定信息披露媒体及上海证券交易所网站披露的 《山东黄金矿业股份有限公司关于山东黄金集团有限公司、山东黄金有色矿业集 团有限公司进一步落实避免同业竞争相关承诺的公告》（临2025-075）。 本议案提交董事会审议前，已经公司独立董事专门会议审议通过。 表决结果：同意7票，反对0票，弃权0票。 （二）审议通过了《关于全资子公司补缴税款事项的议案》 具体内容详见公司同日于指定信息披露媒体及上海证券交易所网 ...

Core Viewpoint - Shandong Gold (600547.SH) announced that its wholly-owned subsidiary, Shandong Gold Mining (Laizhou) Co., Ltd. (referred to as "Laizhou Company"), conducted a self-inspection regarding tax issues related to the gratuitous transfer of exploration rights from its subsidiaries, which resulted in a tax liability of 738 million yuan [1][2]. Group 1 - Laizhou Company identified that the gratuitous transfer of exploration rights from its subsidiaries, Zhangjian Company and Ludi Company, did not meet the requirements for special tax treatment and should be reported under general tax treatment [1]. - The total tax and late fees that Laizhou Company needs to pay amount to 738 million yuan, which includes 508 million yuan in corporate income tax and 230 million yuan in late fees [1]. - The subsidiaries involved, Zhangjian Company and Ludi Company, have been deregistered, and the tax liabilities will be borne by the merged parent company, Laizhou Company [1]. Group 2 - According to the relevant provisions of the Accounting Standards for Enterprises No. 28, the tax payment and late fees do not constitute prior accounting errors and will not involve retrospective adjustments to previous financial data [2]. - The corporate income tax payment will be recorded as deferred income tax assets and will not affect the current net profit attributable to the parent company [2]. - The late fees are considered non-recurring items and are expected to impact the net profit attributable to the parent company by 230 million yuan in the fiscal year 2025, with specific accounting treatment and impact amounts subject to the annual audit [2].

Group 1 - The core point of the article is that Shandong Gold announced the convening of its seventh board meeting to discuss tax payment matters for its wholly-owned subsidiary [1] - For the year 2024, Shandong Gold's revenue composition is as follows: 44.55% from the purchase of non-standard gold smelting, 10.03% from other industries, and 0.33% from other businesses [1] - As of the report, Shandong Gold has a market capitalization of 167.8 billion yuan [1]

Core Viewpoint - Shandong Gold announced that due to the requirements of the Shandong Province and Yantai City government regarding mineral resource integration, the company needs to pay corporate income tax and late fees related to the transfer of exploration rights from its subsidiaries, which have since been dissolved [1] Group 1 - The company’s wholly-owned subsidiaries, Zhangjian and Ludi, transferred exploration rights to Laizhou Company in 2021 and 2022 without charge [1] - The transfer of exploration rights does not meet the requirements for special tax treatment and should be reported under general tax treatment [1] - Laizhou Company is required to pay a total of 738,340,359.85 yuan, which includes 508,405,441.41 yuan in corporate income tax and 229,934,918.44 yuan in late fees [1] Group 2 - The late fee payment is considered a non-recurring item and is expected to impact the company's net profit attributable to the parent company by 229,934,918.44 yuan in 2025 [1] - The final accounting treatment and impact amount will be determined based on the data audited by the annual audit accountant [1]

Core Viewpoint - Shandong Gold's wholly-owned subsidiary, Laizhou Company, is required to pay back taxes amounting to 738 million yuan, which is expected to impact the company's net profit attributable to shareholders by 230 million yuan in 2025 [1] Tax Payment Details - Laizhou Company conducted a self-inspection based on risk alerts from tax authorities and found that two instances of non-compensatory transfer of exploration rights did not meet the requirements for special tax treatment [1] - The company needs to pay back corporate income tax of 508 million yuan and late fees of 230 million yuan, totaling 738 million yuan [1] Financial Impact - The tax payment and late fees are projected to affect the company's net profit attributable to shareholders by 230 million yuan in the year 2025 [1]

Core Viewpoint - Shandong Gold (600547.SH) announced that due to the requirements of the Shandong Province and Yantai City governments regarding mineral resource integration, its wholly-owned subsidiary, Laizhou Company, will bear the tax liabilities from the transfer of exploration rights from its former subsidiaries, Zhangjian Company and Ludi Company, which were found to be non-compliant with special tax treatment requirements [1] Group 1 - Laizhou Company needs to pay a total of 738 million yuan, which includes 508 million yuan in corporate income tax and 230 million yuan in late fees [1] - The exploration rights were transferred without charge in 2021 and 2022, but the actions did not meet the criteria for special tax treatment [1] - Both Zhangjian Company and Ludi Company have been deregistered, and the tax liabilities will be assumed by the merged parent company, Laizhou Company [1]

Core Viewpoint - Shandong Gold (600547.SH) currently does not export any products to EU countries, focusing primarily on gold, small gold bars, and quality gold business [1] Company Summary - The main business of Shandong Gold includes gold, small gold bars, and quality gold [1] - There are no current exports of related products to EU countries [1]

Group 1 - The core viewpoint of the articles highlights a significant increase in domestic gold ETF holdings, with a year-on-year growth of 164.03% in the first three quarters of 2025, reaching 79.015 tons [1] - As of September 2025, China's gold reserves amounted to 2303.52 tons, with the central bank increasing its gold holdings for 12 consecutive months, indicating a strategic focus on enhancing gold's proportion in foreign exchange reserves [1] - The Shanghai Gold Exchange is expected to gain international influence, potentially driving gold prices upward amid ongoing de-dollarization and the internationalization of the Renminbi [1] Group 2 - Despite recent price increases leading to a 2-3 month consolidation period for precious metals, the long-term de-dollarization process remains intact, and gold's strategic allocation value is still prominent [2] - The gold stock ETF fund has shown a strong performance, with a 36.00% increase in net value over the past six months and a 21.91% rise over the last three months [4][5] - The gold stock ETF fund has a Sharpe ratio of 1.74, ranking in the top 33% of comparable funds, indicating higher returns for the same level of risk [6] Group 3 - The top ten weighted stocks in the CSI Hong Kong and Shanghai Gold Industry Index account for 67.97% of the index, with Zijin Mining and Shandong Gold being the most significant contributors [6][7] - The gold stock ETF fund has a management fee of 0.50% and a custody fee of 0.10%, reflecting its cost structure [6]

Group 1 - Gold stocks continue to rise, with notable increases in shares of companies such as珠峰黄金 (5.94% increase), 招金矿业 (4.68% increase), 赤峰黄金 (3.81% increase), and 山东黄金 (3.66% increase) [1] - As of the end of October, the central bank's gold reserves reached 74.09 million ounces, an increase of 30,000 ounces from the end of September, marking the 12th consecutive month of accumulation [1] - UBS reported that central bank gold purchases totaled 634 tons by the end of the third quarter, slightly lower than the same period last year, but showing signs of recovery in the fourth quarter, aligning with their forecast of 900 to 950 tons for the entire year of 2025 [1] Group 2 - According to 中金公司, gold is expected to maintain its upward trend next year, with structural and cyclical opportunities likely to resonate [1] - The trend of de-globalization and strategic security demands may continue to support the accumulation of gold reserves by central banks in emerging markets, with higher requirements for physical gold inventory construction in regional markets by 2025 [1] - Economic growth pressures in the U.S. may persist into the first half of next year, with the Federal Reserve having restarted interest rate cuts in September and potentially ending balance sheet reduction by year-end, suggesting a continuation of the liquidity easing cycle [1]

Core Viewpoint - The Hong Kong gold stocks experienced significant gains, driven by signs of economic weakness in the U.S. and rising gold prices in the international market [1] Group 1: Market Performance - On November 10, Hong Kong gold stocks saw notable increases, with Zhu Feng Gold rising by 5.5% and Tongguan Gold by approximately 5% [1] - Other companies such as Lingbao Gold, Chifeng Gold, Shandong Gold, and Zhaojin Mining also reported gains of nearly 4% [1] - The latest data shows that the price of gold reached $4,050 per ounce in the New York market, marking a daily increase of 1.01%, while spot gold rose to $4,040 per ounce, up 0.97% [1] Group 2: Central Bank Actions - The central bank's latest report indicated that as of the end of October, its gold reserves amounted to 74.09 million ounces, an increase of 30,000 ounces from the end of September, marking the 12th consecutive month of accumulation [1] Group 3: Future Outlook - According to a report from China International Capital Corporation (CICC), gold is expected to maintain its upward trend next year, with structural and cyclical opportunities likely to continue to resonate [1] - State Street has raised its most optimistic forecast for gold prices to between $4,100 and $4,500 per ounce [1]