山东黄金矿业股份有限公司 2025 年第五次临时股东会 会议资料 二○二五年十二月二十四日 | | | | 1. 股东会须知 . | | --- | | 2. 股东会议程 . . | | 3. 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议案 | 山东黄金矿业股份有限公司股东会会议资料 股东会须知 为维护投资者的合法权益，保障股东及股东代表在公司 2025 年第五次临时 股东会期间依法行使权利，确保股东会的正常秩序和议事效率，根据《公司法》 《公司章程》《股东会议事规则》的相关规定，特制定本须知，请参加股东会的 全体人员遵照执行。 一、请出席现场会议的股东及股东代表于会议召开前 15 分钟到达会场签 到，并请按规定出示身份证或法人单位证明、授权委托书以及出席人身份证等， 经验证后领取会议资料，方可出席会议。 二、为保证股东会的严肃性和正常秩序，除出席会议的股东及股东代表、公 司董事、高管人员、聘任律师及董事会邀请的人员外，公司有权依法拒绝其他人 员进入会场。 三、请参会人员自觉遵守会场秩序。 四、本次会议表决方式除现场投票外，还提供网络投票，公司将通过上海证 ...

Core Viewpoint - Shandong Gold has experienced a decline in stock price recently, despite a significant year-to-date increase, indicating potential volatility in the market [1][2]. Financial Performance - For the period from January to September 2025, Shandong Gold achieved operating revenue of 83.783 billion yuan, representing a year-on-year growth of 25.04% [2]. - The net profit attributable to shareholders for the same period was 3.956 billion yuan, showing a substantial increase of 91.51% year-on-year [2]. Stock Market Activity - As of November 17, Shandong Gold's stock price was 35.11 yuan per share, with a market capitalization of 161.855 billion yuan [1]. - The stock has seen a year-to-date increase of 57.39%, but has declined by 3.57% over the last five trading days and 7.03% over the last twenty days [1]. Shareholder Information - As of September 30, 2025, the number of shareholders increased to 102,800, reflecting a growth of 12.55% [2]. - The company has distributed a total of 5.678 billion yuan in dividends since its A-share listing, with 2.765 billion yuan distributed in the last three years [3]. Major Shareholders - Hong Kong Central Clearing Limited is the fourth largest circulating shareholder, holding 113 million shares as a new shareholder [3]. - China Securities Finance Corporation is the fifth largest circulating shareholder, maintaining its holding of 109 million shares [3].

Group 1 - The core viewpoint of the article highlights a collective decline in gold stocks, indicating a negative trend in the market for these companies [2] Group 2 - China Gold International (02099.HK) experienced a drop of 4.03%, trading at 135.8 HKD [2] - Shandong Gold (01787.HK) fell by 3.46%, with a current price of 33.52 HKD [2] - Chifeng Jilong Gold Mining (06693.HK) decreased by 2.96%, now priced at 29.54 HKD [2] - Zijin Mining International (02259.HK) saw a decline of 2.54%, trading at 138 HKD [2]

Core Viewpoint - Gold stocks collectively declined following a significant drop in spot gold prices, which fell nearly $180 from a historical high of $4,211, marking the largest single-day decline in recent times [1] Group 1: Company Performance - China Gold International (02099) fell by 4.03%, closing at HKD 135.8 [1] - Shandong Gold (01787) decreased by 3.46%, closing at HKD 33.52 [1] - Chifeng Jilong Gold Mining (06693) dropped by 2.96%, closing at HKD 29.54 [1] - Zijin Mining International (02259) declined by 2.54%, closing at HKD 138 [1] Group 2: Market Analysis - The market is adjusting its optimistic expectations for a December interest rate cut following hawkish comments from Federal Reserve officials, leading to profit-taking across risk assets, including gold and cryptocurrencies [1] - Dongwu Securities suggests that despite the current macroeconomic framework, there remains a medium-term bullish outlook for precious metals, indicating that the recent price correction may present a buying opportunity [1] - Copper Crown Jin Yuan Futures believes that the recent rebound in gold and silver prices has ended, and a new adjustment phase is expected, with attention on the upcoming non-farm payroll data [1]

Group 1 - The precious metals sector experienced a decline at the beginning of trading on November 17, with notable drops in stocks such as Zhaojin Gold and Hunan Silver, both down by 3% [1] - Other companies like Chifeng Jilong Gold and Xiaocheng Technology saw a decrease of 2%, while Western Gold and Shandong Gold also followed the downward trend [1]

| 表格序號 | 大股東/董事/最高行政人員名 作出披露的買入 / 賣出或涉及的 每股的平均價 | | | | 持有權益的股份數目 佔已發行的有關事件的日 相關法團 | | | --- | --- | --- | --- | --- | --- | --- | | | 股份數目 | 原因 | | | ( 請参関上述 * 註 | | | | | | | | | 份自分比 E | | Britan an an all all the management of the first the first of the firs | | | | | | | | CS20251113E00412 | Schroders PLC | 1101(L) | 2.978.750(L) | HKD 34.3141 | 51.149.650(L) | 5.14(L)12/11/2025 | 格隆汇11月17日丨根据联交所最新权益披露资料显示，2025年11月12日，山东黄金(01787.HK)获Schroders PLC在场内以每股均价34.3141港元增持297.88万 股，涉资约1.02亿港元。 增持后，Schroders PL ...

智通财经APP获悉，香港联交所最新数据显示，11月12日，Schroders PLC增持山东黄金(01787)297.875 万股，每股作价34.3141港元，总金额约为1.02亿港元。增持后最新持股数目约为5114.97万股，持股比 例为5.14%。 ...

智通财经APP获悉，香港联交所最新数据显示，11月12日，Schroders PLC增持山东黄金(01787)297.875 万股，每股作价34.3141港元，总金额约为1.02亿港元。增持后最新持股数目约为5114.97万股，持股比 例为5.14%。 ...

Core Viewpoint - The non-ferrous metal sector has seen a significant influx of over 17.7 billion in main capital, ranking second among 31 primary industries in the Shenwan classification, with leading companies like Huayou Cobalt and Tianqi Lithium attracting substantial net inflows [1][3] Group 1: Market Performance - The non-ferrous metal sector has outperformed other industries, with a year-to-date increase of 75.9%, surpassing telecommunications (61.88%), electronics (48.1%), and power equipment (45.12%) [4][5] - Among the 60 constituent stocks of the Non-Ferrous Metal Leader ETF, 41 stocks rose over 2%, with five stocks hitting the daily limit up, and significant gains observed in Tianqi Lithium and Zhongmin Resources [3][5] Group 2: Investment Drivers - The strong performance is attributed to several factors: 1. Financial results show that 56 out of 60 companies in the Non-Ferrous Metal Leader ETF reported profits, with 44 companies experiencing year-on-year growth in net profit [5] 2. The current bull market is driven by demand from emerging sectors such as new energy, AI, and aerospace, alongside supply-side disruptions that highlight the scarcity and strategic value of metals [5] 3. Policy support from the government, including a joint plan to stabilize growth in the non-ferrous metal industry, is expected to enhance the sector's performance [5] Group 3: Future Outlook - Analysts predict that the non-ferrous metal sector will continue to thrive, with expectations of a new cycle driven by supply-demand balance and global monetary easing [6][5] - The investment interest in commodities is likely to persist, with anticipated price increases for copper and cobalt due to supply constraints and rising demand for lithium driven by energy storage needs [6]

Group 1 - The gold stocks collectively rose, with notable increases in companies such as China Gold International, which rose by 4.89% to HKD 143.6, and Jihai Resources, which increased by 4.38% to HKD 1.43 [2] - As of November 12, during the Asian trading session, international gold prices peaked at USD 4208.79 per ounce, recovering quickly after a brief pullback and testing the USD 4200 resistance level [2] - The anticipated release of delayed U.S. economic data due to the government shutdown is expected to highlight economic weakness, supporting market expectations for a 25 basis point rate cut by the Federal Reserve in December [2] Group 2 - UBS analysts indicate that the market is awaiting clearer signals regarding the government shutdown and the timing of U.S. data releases, suggesting that gold prices may stabilize temporarily before continuing to rise [3] - Citigroup's latest report predicts that in a bull market scenario, gold prices could reach USD 6000 by 2027, driven by a significant mismatch between global wealth and the physical gold market [3] - The current surge in gold prices is primarily driven by U.S. investors rather than central banks, with ETF inflows contributing significantly to the global increase in demand [3]