Core Viewpoint - The recent surge in gold prices has significantly boosted the stock performance of Shangshan Gold (1939.HK), which has seen its share price rise over 18% to HKD 9.67, marking a two-month high and a six-day consecutive increase [1] Group 1: Gold Price Movement - Spot gold prices have surpassed USD 3,850 per ounce, reaching a new historical high [1] - Year-to-date, spot gold has increased by over 46% [1] Group 2: Company Developments - Shangshan Gold has established a wholly-owned subsidiary, Shangshan Technology, aimed at global expansion in gold-related businesses [1] - A trademark licensing agreement has been signed between Jinya Fu Group and Shangshan Technology, allowing the latter to obtain intellectual property rights for all countries and regions outside mainland China for an annual fee of HKD 1 [1]

Core Viewpoint - The company plans to issue up to 37.8254 million shares at a price of HKD 6.53 per share, representing a discount of approximately 19.88% from the closing price of HKD 8.15 on September 29, 2025 [1] Summary by Categories Share Placement - The proposed share placement will account for about 7.03% of the total issued shares after the placement [1] - If all shares are successfully placed, the total proceeds from the placement are estimated to be approximately HKD 247 million, with net proceeds expected to be around HKD 245.8 million [1] Use of Proceeds - The net proceeds will be allocated as follows: - HKD 98 million for global channel development and brand system construction [1] - HKD 98 million for technology upgrades and supply chain security system development [1] - HKD 49.8 million for global headquarters construction, global management team formation, and other general operating expenses [1]

Group 1 - The company, Shangshan Gold (01939.HK), has entered into a placement agreement with Dongwu Securities International to issue up to 37.8254 million shares at a price of HKD 6.53 per share, representing approximately 7.57% of the total shares issued as of the announcement date [1] - The placement price of HKD 6.53 is approximately 19.88% lower than the closing price of HKD 8.15 on the Hong Kong Stock Exchange on the date of the agreement [1] Group 2 - If the placement is fully subscribed, the total proceeds from the placement will be approximately HKD 247 million, with a net amount estimated at HKD 245.8 million [2] - The company plans to use the net proceeds to develop its smart terminal business, integrating global gold trading and high-value collectibles auctions, and expanding its operations beyond Japan and Hong Kong [2] - The company aims to accelerate its global market layout and establish a synergistic "gold + auction" dual business ecosystem through technological upgrades and a closed-loop business structure [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，並明確表示概不就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。 根據一般授權配售新股份 於2025年9月29日（交易時段後），本公司與配售代理訂立配售協議，據此，本公 司已有條件同意透過配售代理（按盡力基準）按每股配售股份6.53港元的配售價向 不少於六(6)名承配人配售最多37,825,421股配售股份。除須遵守配售協議所載的 其他限制外，承配人及其最終實益擁有人亦須為獨立第三方。 本公告僅供參考，並不構成收購、購買或認購本公司任何證券之邀請或要約。 （前稱 東京中央拍賣控股有限公司） （於香港註冊成立的有限公司） Tokyo Chuo Auction Holdings Limited （股份代號：1939） 根據一般授權配售新股份 配售代理 本公司將根據一般授權向承配人配發及發行配售股份。因此，配發及發行配售股 份毋須獲得額外股東批准。本公司將向聯交所申請批准配售股份上市及買賣。 假設於本公告日期至完成日期期間已發行股份總數概無其他變動，則最多 37,825,42 ...

Group 1 - The core viewpoint of the article highlights that UpShan Gold (01939) has seen a significant stock price increase, rising over 9% at the close and currently trading at 7.25 HKD with a transaction volume of 27.162 million HKD [1] - UpShan Gold has established a wholly-owned subsidiary, UpShan Technology, which aims to expand its global footprint in gold-related businesses, particularly focusing on gold smart terminals [1] - A trademark licensing agreement has been signed between Jinya Fu Group and UpShan Technology, allowing UpShan Technology to obtain intellectual property rights for all countries and regions outside mainland China for an annual fee of 1 HKD [1] Group 2 - Jinya Fu Group, controlled by Chairman Huang Shikun, has acquired a 66.83% stake in Tokyo Central Auction after completing a takeover bid on June 20, enhancing its influence in the market [1] - In April, Jinya Fu announced a new smart gold store cooperation model, introducing single-store partnerships and city partner plans, along with a series of collaboration policies [1] - The company is leveraging technologies such as artificial intelligence, IoT, and big data to create a new gold recycling model that features self-ordering, automatic detection, and rapid payment [1]

Core Viewpoint - The stock of Shangshan Gold (01939) has seen a significant increase, rising over 9% towards the end of trading, with a current price of 7.25 HKD and a trading volume of 27.162 million HKD. The company has announced the establishment of a wholly-owned subsidiary, Shangshan Technology, which aims to expand its global footprint in gold-related businesses [1]. Group 1 - Shangshan Technology is focused on the globalization of gold smart terminals and expanding gold-related business operations [1]. - A trademark licensing agreement has been signed between Jinya Fu Group and Shangshan Technology, allowing the latter to obtain intellectual property rights for all countries and regions outside mainland China for an annual fee of 1 HKD [1]. - Jinya Fu Group's chairman, Huang Shikun, has become the actual controller of Tokyo Central Auction after acquiring a 66.83% stake through ESSA Financial [1]. Group 2 - Jinya Fu announced a new smart gold store cooperation model in April, introducing single-store cooperation and city partner plans, along with a series of collaboration policies [1]. - The company is leveraging technologies such as artificial intelligence, IoT, and big data to create a new gold recycling model that features self-ordering, automatic detection, and rapid payment [1].

Group 1 - The company, Shangshan Gold (01939), has signed a trademark licensing agreement with Jinya Fu Holdings Group, allowing its wholly-owned subsidiary, Hong Kong Shangshan Technology Development Co., Ltd., to use certain trademarks in regions outside mainland China for an annual fee of 1 HKD [1] - The licensed trademarks include "Jinya Fu Smart Gold Store," "KINGHOOD GOLD ATM," and "KINGHOOD SMART GOLD STORE," which are owned by Jinya Fu Group [1] - The agreement is non-exclusive, non-transferable, and limited to specific regions, with a validity period of 6 years starting from September 16, 2025 [1] Group 2 - The board believes that this agreement will help the company expand into overseas markets, leveraging the Jinya Fu brand's influence in the international jewelry and gold industry [2] - The company aims to accelerate the international application of related technologies and products, creating new growth opportunities [2]

Group 1 - The company, Shangshan Gold, has signed a trademark licensing agreement with Jinya Fu Group, allowing its subsidiary, Hong Kong Shangshan Technology Development Co., Ltd., to use Jinya Fu's trademarks in regions outside mainland China for an annual fee of 1 HKD [1] - The licensed trademarks include "Jinya Fu Smart Gold Store," "KINGHOOD GOLD ATM," and "KINGHOOD SMART GOLD STORE" [1] - The agreement is non-exclusive, non-transferable, and limited to specific regions, with a validity period of 6 years starting from September 16, 2025 [1] Group 2 - The board believes that this agreement will help the company expand into overseas markets, leveraging Jinya Fu's brand influence in the international jewelry and gold industry [2] - The company aims to accelerate the international application of related technologies and products, creating new growth opportunities [2]

商標許可協議 本公司董事（「董事」）會（「董事會」）欣然宣布，於2025年9月16日，深圳金雅福控股 集團有限公司（「金雅福集團」）作為許可方已與本公司全資附屬公司香港上善科技發 展有限公司（「上善科技」）作為被許可方簽署商標許可協議（「本協議」）。根據本協議 約定，上善科技將以每年1港元代價從金雅福集團獲得中華人民共和國大陸以外的 所有國家及地區（含香港特別行政區、澳門特別行政區、台灣及其他海外區域）的商 標許可。許可商標包括金雅福集團擁有的「金雅福智慧金店」、「KINGHOOD GOLD ATM」、「KINGHOOD SMART GOLD STORE」品牌。 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，並明確表示概不就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。 （前稱 東京中央拍賣控股有限公司） （於香港註冊成立的有限公司） Tokyo Chuo Auction Holdings Limited （股份代號：1939） 自願性公告 商標許可協議 本公告乃由上善黃金國際控股有限公司（「本公司」，連同其附屬 ...

Core Viewpoint - The recent activities of Shangshan Gold (01939) indicate significant shareholder engagement and strategic licensing agreements that may enhance its market position and operational capabilities [1] Group 1: Shareholder Activities - On September 11, Shangshan Gold's shareholders deposited stocks into China Merchants International Securities, with a total market value of 20.75 billion HKD, representing 65.99% of the total shares [1] Group 2: Licensing Agreement - Shangshan Gold announced that its wholly-owned subsidiary, Shangshan Technology, will acquire intellectual property rights from Shangshan Intelligent for a nominal fee of 1 HKD, covering all countries and regions outside mainland China, including Hong Kong, Macau, Taiwan, and other overseas areas [1] - The agreement allows Shangshan Technology to utilize the intellectual property for the production, sales, and operation of licensed products, which include smart terminal devices developed by Shangshan Intelligent that incorporate its patented technologies [1]