Core Insights - The strategic partnership between Zhaojin Mining and Ant Group's SigmaLayer marks a significant move towards integrating AI and blockchain technology in the gold industry, aiming to enhance digital transformation and asset tokenization [1][5]. Group 1: Partnership Overview - Zhaojin Mining is a leading player in China's gold production, with substantial reserves and production capacity, while Ant Group's SigmaLayer specializes in blockchain technology and digital solutions [6]. - The collaboration aims to leverage blockchain's immutable and traceable features alongside AI's data analysis capabilities to address traditional operational challenges in the gold industry [6]. Group 2: Key Focus Areas - **Asset Tokenization**: The initial phase will focus on the "on-chain conversion" of overseas gold assets, allowing for credible circulation of physical gold through digital tokens, addressing liquidity and cross-border transaction challenges [7]. - **AI-Driven Risk Control**: The partnership will develop an intelligent risk control system that integrates AI algorithms with blockchain for real-time data analysis across the supply chain, enhancing risk identification and credit assessment [8]. - **ESG Transparency**: A blockchain-based ESG tracking platform will document Zhaojin's sustainable practices, enhancing its ESG management and providing competitive differentiation for tokenized products [8]. Group 3: Strategic Implications - This collaboration represents a strategic elevation for Zhaojin Mining, positioning it as a technology-driven entity in the digital economy, potentially attracting investors focused on innovation [9]. - The tokenization of gold assets could lead to new revenue streams in digital trading and custody services, while the intelligent risk control system may foster fintech services for the industry [9]. - With supportive policies in Hong Kong for integrating digital finance and gold markets, Zhaojin Mining is poised to establish a unique position in the capital market through successful digital asset transformation [9].

Core Insights - Hong Kong's Zhaojin Mining Company has signed a strategic cooperation memorandum with Sigma Layer Company Limited, a member of Ant Group, to explore innovative applications in the gold industry through digitalization and technology [1] Group 1: Strategic Cooperation - The cooperation focuses on three main areas: digitalization and tokenization of overseas gold assets, AI-driven intelligent supply chain and risk control systems, and trustworthy value transmission in sustainability and ESG [1] - The partnership aims to enhance the transparency, efficiency, and credibility of the gold industry chain, setting a new benchmark for digital transformation in the sector [1] Group 2: Future Prospects - Both parties intend to use this collaboration as a starting point to explore more innovative scenarios, promoting the evolution of the gold industry towards intelligence and sustainability [1]

Core Insights - The strategic partnership between Zhaojin Mining (01818.HK) and Ant Group's SigmaLayer aims to explore innovations in the gold industry through digitalization, tokenization, intelligent risk control, and ESG applications [1] Company Summary - Zhaojin Mining's stock closed at HKD 29.1 on November 3, 2025, with a slight increase of 0.14% and a trading volume of 16.38 million shares, amounting to a turnover of HKD 468 million [1] - The company has received a majority of "Buy" ratings from investment banks, with six firms issuing buy recommendations in the last 90 days, and an average target price of HKD 31.82 [1] - The latest report from First Shanghai gives Zhaojin Mining a buy rating with a target price of HKD 43.72 [1] Industry Summary - Zhaojin Mining ranks second in the gold industry with a market capitalization of HKD 83.738 billion [2] - Key financial metrics for Zhaojin Mining compared to the industry average include: - ROE: 10.87% vs. industry average of 18.53% - Market capitalization: HKD 83.738 billion vs. industry average of HKD 38.544 billion - Revenue: HKD 13.896 billion vs. industry average of HKD 55.935 billion - Net profit margin: 25.48% vs. industry average of 11.17% - Gross profit margin: 43.74% vs. industry average of 30.19% - Debt ratio: 52.66% vs. industry average of 57.07% [2]

Core Viewpoint - The strategic cooperation memorandum between Zhaojin Mining and Ant Group's SigmaLayer aims to explore innovative applications in the gold industry through digitalization, tokenization, AI, and ESG initiatives [1] Group 1: Strategic Cooperation - Zhaojin Mining's Hong Kong subsidiary has signed a strategic cooperation memorandum with Ant Group's SigmaLayer Company Limited during the Hong Kong FinTech Week [1] - The cooperation will leverage Ant Group's core technologies in blockchain and artificial intelligence [1] Group 2: Focus Areas of Collaboration - The initial phase of collaboration will focus on three main areas: 1. Digitalization and tokenization of overseas gold assets 2. AI-driven intelligent supply chain and risk control systems 3. Trustworthy value transmission in sustainability and ESG [1] Group 3: Goals and Future Plans - The partnership aims to enhance transparency, efficiency, and credibility in the gold industry, setting a new benchmark for digital transformation [1] - Both parties plan to continuously explore more innovative scenarios to promote the evolution of the gold industry towards intelligence and sustainability [1]

Core Insights - The strategic cooperation memorandum between Zhaojin Mining and Ant Group's SigmaLayer aims to explore innovative applications in the gold industry through digitalization, tokenization, intelligent risk control, and ESG initiatives [1][3] Group 1: Strategic Cooperation - Zhaojin Mining and Ant Group's SigmaLayer will focus on three main areas in their initial collaboration: digitalization and tokenization of overseas gold assets, AI-driven intelligent supply chain and risk control systems, and credible value transmission in the ESG field [1][3] - The partnership is expected to enhance the transparency, efficiency, and credibility of the gold industry, setting a new benchmark for digital transformation [3] Group 2: Technological Integration - Zhaojin Mining plans to leverage Ant Group's blockchain technology to achieve the on-chain verification of overseas gold assets, facilitating the tokenization of physical gold [3] - The collaboration aims to provide a practical path for the digitalization of physical assets, utilizing blockchain and AI technologies to enhance supply chain visibility and risk management precision [3]

随着全球数字化进程加速，人工智能与区块链技术的融合已成为推动产业发展的关键力量。此次与蚂蚁 数科战略合作，将充分发挥双方各自的优势：蚂蚁数科在人工智能与区块链领域的技术专长，结合集团 在矿业领域的专业经验，共同探讨海外黄金产业数字化升级的新路径。此次战略合作不仅将巩固本集团 在矿业领域的地位，同时亦助力蚂蚁数科深化人工智能及区块链技术应用。预期双方将产生显着的协同 效应，创造新的增长机遇。 根据备忘录，集团与蚂蚁数科将基于区块链及人工智能核心技术的应用，于多个领域建立战略合作关 系，包括构建及探索海外黄金资产数字化与通证化；以AI人工智能驱动的智能供应链与风险控制系 统；以及在可持续发展与环境、社会及管治领域实现可信赖的价值交付等。据此拟进行的任何具体活动 及项目须在严格遵循合规安全的前提下，随后由备忘录各方签署正式协议。 格隆汇11月3日丨招金矿业(01818.HK)宣布，于2025年11月3日，公司全资附属公司香港招金矿业有限公 司(「香港招金」)与SigmaLayer Company Limited(「SigmaLayer」，蚂蚁集团科技商业化板块(「蚂蚁数 科」)旗下成员公司)订立战略合作备忘录。 ...

Core Viewpoint - The strategic cooperation between Zhaojin Mining and Ant Group's SigmaLayer aims to leverage blockchain and artificial intelligence technologies to enhance the digitalization of overseas gold assets and improve supply chain and risk control systems [1][2] Group 1: Strategic Cooperation Details - Zhaojin Mining's wholly-owned subsidiary, Hong Kong Zhaojin Mining, has signed a strategic cooperation memorandum with SigmaLayer, a member of Ant Group's technology commercialization sector [1] - The cooperation will focus on multiple areas, including the digitalization and tokenization of overseas gold assets, AI-driven smart supply chains, and sustainable development initiatives [1] - Any specific activities or projects resulting from this memorandum will require formal agreements and must adhere to compliance and safety standards [1] Group 2: Industry Implications - The partnership is seen as a response to the national strategy for developing the digital economy and represents a strategic choice for Zhaojin Mining to position itself in the digital technology sector [2] - This collaboration is expected to strengthen Zhaojin Mining's position in the mining industry while aiding Ant Group in deepening the application of AI and blockchain technologies [1][2] - Anticipated synergies from this partnership are expected to create new growth opportunities for both parties involved [1]

Core Insights - The company, Zhaojin Mining (01818), has entered into a strategic cooperation memorandum with SigmaLayer Company Limited, a member of Ant Group's technology commercialization sector, to explore applications of blockchain and artificial intelligence in various fields [1][2] - The collaboration aims to digitalize and tokenize overseas gold assets, develop AI-driven smart supply chains and risk control systems, and enhance value delivery in sustainable development and ESG areas [1] - This partnership is expected to leverage the strengths of both parties, combining Ant Group's expertise in AI and blockchain with Zhaojin's mining industry experience, creating new growth opportunities and significant synergies [1] Company Strategy - The board of directors views this strategic cooperation as a response to the national digital economy development strategy and a strategic choice for the company to leverage its industrial advantages and proactively engage in the digital technology sector [2] - The cooperation aligns with the overall interests of the company and its shareholders, indicating a forward-looking approach to industry trends [2]

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依賴該等內容而引致的任何損失承擔任何責 任。 ZHAOJIN MINING INDUSTRY COMPANY LIMITED* 招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：1818） 自願性公告 與螞蟻數科訂立戰略合作備忘錄 本公告乃由招金礦業股份有限公司（「本公司」）自願作出。 本公司董事（「董事」）會（「董事會」）欣然宣佈，於二零二五年十一月三日，本公 司全資附屬公司香港招金礦業有限公司（「香港招金」）與SigmaLayer Company Limited（「SigmaLayer」，螞蟻集團科技商業化板塊（「螞蟻數科」）旗下成員公 司）訂立戰略合作備忘錄（「備忘錄」）。 根據備忘錄，本集團與螞蟻數科將基於區塊鏈及人工智能核心技術的應用， 於多個領域建立戰略合作關係，包括構建及探索海外黃金資產數字化與通證 化；以AI人工智能驅動的智能供應鏈與風險控制系統；以及在可持續發展與環 境、社會及管治領域實現可信賴的價值 ...

Core Viewpoint - The Hong Kong gold stocks experienced a collective decline, influenced by a drop in spot gold prices and new tax policies announced by the Chinese government, which aim to regulate excessive speculation in the gold market [1]. Group 1: Market Performance - Chinese gold stocks such as China Gold International, Shandong Gold, and Zijin Mining saw declines exceeding 4%, 3%, and 3% respectively [1]. - Spot gold prices fell below $3970 per ounce, marking a decrease of 0.84% [1]. - The latest prices and percentage changes for various gold stocks are as follows: - China Gold International: $126.100, -4.03% - Shandong Gold: $31.600, -3.36% - China Silver Group: $0.610, -3.17% - Zijin Mining: $127.700, -2.82% [1]. Group 2: Regulatory Changes - The Ministry of Finance and the State Taxation Administration of China announced new tax policies regarding gold, effective from November 1, 2025, until December 31, 2027 [1]. - The new policies are designed to curb excessive speculation in gold trading and to better reflect market demand through tax leverage and investment usage explanations [1]. Group 3: Expert Commentary - Professor Gong Xiuguo from Sichuan University highlighted the risks associated with the influx of investors into the gold market amid global uncertainties and high gold prices [1]. - The new tax policies are expected to mitigate speculative trading and provide a more accurate representation of market demand [1].