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 全部或任何部份內容而產生或因倚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） 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條而作出。 茲載列招金礦業股份有限公司於 2025 年 1 1 月 1 4 日在中國貨幣網 (www.chinamoney.com.cn)及上海清算所網站(www.shclearing.com.cn)所刊登的 《關於招金礦業股份有限公司2025年度第二期超短期融資券兌付安排公告》， 僅供參考。 特此公告。 承董事會命 招金礦業股份有限公司 姜桂鵬 债券代码: 012580487 债券简称:25 招金 SCP002 关于招金矿业股份有限公司 2025 年度第二期超短期 融资券兑付安排公告 为保证招金矿业股份有限公司 2025 年度第二期超短期融资 券（债券简称: ...

Group 1 - The gold concept sector experienced a significant decline, dropping by 2.39% [1] - Among the companies, Yuguang Gold Lead fell by 4.73%, Shenda Resources decreased by 4.56%, and Luoyang Molybdenum dropped by 4.53% [1] - Other companies such as Pengxin Resources, Zhaojin Gold, and Hunan Silver also saw declines exceeding 3% [1]

Core Viewpoint - The precious metals sector continues to decline, with significant drops in stock prices for several companies, indicating a bearish trend in the market [1] Company Summary - Zhaojin Gold and Hunan Silver both experienced declines of over 4% [1] - Chifeng Jilong Gold, Western Gold, and Hunan Gold also followed the downward trend [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]

Core Viewpoint - The Hong Kong gold stocks experienced a collective surge in early trading, with significant gains observed in several companies, indicating a positive market sentiment towards gold mining stocks amid stable gold prices and potential end to the U.S. government shutdown [1] Group 1: Market Performance - Chinese Gold International led the gains with an increase of over 5%, followed by Lingbao Gold at 3.6%, and Tongguan Gold nearly at 3% [1] - Other notable performers included Zijin Mining up by 2.5%, Chifeng Jilong Gold at 2.38%, and both Shandong Gold and Zhaojin Mining rising by 2% [1] Group 2: Gold Price Trends - In the Asian early trading session, gold prices remained stable ahead of a potential resolution to the U.S. government shutdown [1] - The previous day saw New York futures gold rise over 2.1%, testing the $4200 mark, while silver increased by approximately 5.2% [1] Group 3: Industry Analysis - According to 22V Research, the recent rebound in gold prices is a positive sign for mining stocks, as these stocks serve as leveraged bets on metal prices [1] - There has been a shift in correlation, with gold and stocks showing a positive relationship recently, attributed to concerns over a weakening dollar and central banks' insatiable demand for precious metals [1]

Group 1 - Spot gold has reached $4,100 per ounce for the first time since October 27, with a daily increase of approximately 2.5% [1] - J.P. Morgan Private Bank predicts that gold prices may exceed $5,000 per ounce next year, driven primarily by central bank purchases from emerging market economies [1] - By the end of 2026, gold prices could reach $5,200 to $5,300 per ounce, representing an increase of over 25% from current trading levels [1] Group 2 - As of November 10, 2025, the CSI Hong Kong-Shenzhen Gold Industry Stock Index has risen by 2.77%, with notable increases in constituent stocks such as ChaoHua Jewelry (up 7.62%) and Huayu Mining (up 7.16%) [3] - The gold stock ETF fund has achieved a four-day consecutive increase, with a latest price of 1.59 yuan and a one-week cumulative increase of 2.45% [3] - The trading volume for the gold stock ETF fund was active, with a turnover of 11.11% and a transaction value of 12.0096 million yuan on November 10 [3] Group 3 - The gold stock ETF fund has seen a net asset value increase of 42.46% over the past six months, ranking 646 out of 3866 index stock funds, placing it in the top 16.71% [4] - Since its inception, the gold stock ETF fund has recorded a maximum monthly return of 20.05% and an average monthly return of 9.45% [4] - The historical one-year profit probability for the gold stock ETF fund stands at 100% [4] Group 4 - As of November 7, 2025, the gold stock ETF fund has a Sharpe ratio of 1.74, ranking in the top 2 out of 6 comparable funds, indicating higher returns for the same level of risk [5] - The management fee for the gold stock ETF fund is 0.50%, and the custody fee is 0.10% [5] - The CSI Hong Kong-Shenzhen Gold Industry Stock Index includes 50 large-cap companies involved in gold mining, refining, and sales, reflecting the overall performance of the gold industry in the mainland and Hong Kong markets [5]

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]

Core Viewpoint - The Hong Kong gold stocks have generally risen, driven by signs of economic weakness in the U.S. and an increase in gold prices, with forecasts suggesting continued upward momentum for gold in the coming year [1] Group 1: Market Performance - Hong Kong gold stocks saw significant increases, with notable gains including: - Zhenfeng Gold up 5.5% - Tongguan Gold up approximately 5% - Lingbao Gold, Chifeng Gold, Shandong Gold, and Zhaojin Mining each up nearly 4% [1] - The latest prices and percentage changes for selected gold stocks are as follows: - Zhenfeng Gold (01815): 2.130, +5.45% - China Silver Group (00815): 0.650, +4.84% - Lingbao Gold (03330): 17.090, +3.89% [1] Group 2: Gold Price Movement - As of the Asian morning session, New York futures gold reached $4,050 per ounce, up 1.01%, while spot gold surpassed $4,040 per ounce, up 0.97% [1] - The People's Bank of China reported that as of the end of October, its gold reserves stood at 74.09 million ounces, an increase of 30,000 ounces from 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 gold price forecast to between $4,100 and $4,500 per ounce [1]