Core Viewpoint - Zijin Mining International announced the end of the stabilization period for its global offering on October 25, 2025, which is 30 days after the deadline for submitting the Hong Kong public offering application [1]. Group 1: Stabilization Actions - The stabilization price operator, Morgan Stanley Asia Limited, did not buy or sell any shares in the market during the stabilization period [2]. - A total of 52.3486 million shares were allocated under the international offering, representing approximately 15% of the total shares available for subscription before the exercise of any over-allotment options [3]. - The overall coordinator exercised the over-allotment option in full on October 8, 2025, involving 52.3486 million shares at a price of HKD 71.59 per share, to facilitate the return of borrowed shares to Morgan Stanley Asia Limited [3].

Core Viewpoint - Zijin Mining International (02259) announced the end of the stabilization price period for its global offering on October 25, 2025, which is 30 days after the deadline for submitting the Hong Kong public offering application [1] Summary by Relevant Sections - **Stabilization Actions**: Morgan Stanley Asia Limited, as the stabilization agent, undertook stabilization actions during the stabilization price period, which included an overallotment of 52.3486 million shares, representing approximately 15% of the total shares initially available for subscription under the global offering [1] - **Share Borrowing**: The shares were borrowed under a stock borrowing agreement to cover the overallotment, and the overall coordinator exercised the overallotment option in full on October 8, 2025, at a price of HKD 71.59 per share [1] - **Market Activity**: During the stabilization price period, the stabilization agent did not buy or sell any shares in the market to stabilize the price [1]

Core Viewpoint - Zijin Mining International (02259.HK) announced the end of the stabilization period for its global offering on October 25, 2025, which is 30 days after the deadline for submitting applications for the Hong Kong public offering [1] Group 1 - The stabilization agent, Morgan Stanley Asia Limited, or its affiliates, undertook stabilization actions during the stabilization period, including the allocation of a total of 52,348,600 shares, which represents approximately 15% of the total shares initially available for subscription under the global offering [1] - The overall coordinator exercised the overallotment option on October 8, 2025, involving 52,348,600 shares at a price of HKD 71.59 per share, which is the offering price excluding various fees [1] - The shares were borrowed by the stabilization agent under a borrowing agreement to facilitate the return of shares to Jinshan Hong Kong [1] Group 2 - During the stabilization period, the stabilization agent did not buy or sell any shares in the market to stabilize the price [2]

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）以及香港中央結 算有限公司（「香港結算」）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，概不對因本公告的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。 除本公告另有界定者外，本公告所用的詞彙與紫金黃金國際有限公司（「本公司」）於 2025年9月19日（星期五）刊發的招股章程（「招股章程」）所界定者具有相同涵義。 Zijin Gold International Company Limited 紫金黃金國際有限公司 （於香港註冊成立的有限公司） （股份代號：2259） 穩定價格行動及穩定價格期結束 穩定價格行動及穩定價格期結束 本公告乃根據香港法例第571W章《證券及期貨（穩定價格）規則》第9(2)條作出。 本公告僅供參考，並不構成任何人士收購、購買或認購本公司任何證券的要約或誘 使作出要約的邀請。本公告並非招股章程。潛在投資者於決定是否投資發售股份 前，應閱覽招股章程內有關本公司、下文所述香港公開發售及國際發售的詳細資 料。 本公告概不構成要約出售或招攬要約購買發售股份，而在任何作出有關要約、招 ...

Group 1 - The core viewpoint indicates that after experiencing the largest single-day drop in nearly 12 years, gold prices continued to decline, approaching the $4000 per ounce mark [1] - Citibank has shifted its outlook on gold from bullish to bearish, setting a target price of $4000 per ounce for the next 0-3 months [1] - CITIC Securities noted that silver trading is overheated, suggesting a slowdown in bullish momentum for both gold and silver [1] Group 2 - As of the latest update, spot gold was reported at $4080.27 per ounce, down 0.45% [1] - Gold stocks have continued to decline, with China Silver Group down 6.06% to HKD 0.62, Lingbao Gold down 4.17% to HKD 16.53, China Gold International down 4.07% to HKD 122.6, and Zijin Gold International down 3.35% to HKD 126.9 [2]

Group 1 - Gold stocks continue to decline, with China Silver Group (00815.HK) down 6.06% to HKD 0.62 [1] - Lingbao Gold (03330.HK) decreased by 4.17%, trading at HKD 16.53 [1] - China Gold International (02099.HK) fell 4.07%, now priced at HKD 122.6 [1] - Zijin Mining International (02259.HK) dropped 3.35%, currently at HKD 126.9 [1]

Core Viewpoint - Gold stocks continue to decline, with significant drops in major companies following a substantial decrease in gold prices, indicating a bearish sentiment in the market [1] Company Performance - China Silver Group (00815) fell by 6.06%, trading at 0.62 HKD - Lingbao Gold (03330) decreased by 4.17%, trading at 16.53 HKD - China Gold International (02099) dropped by 4.07%, trading at 122.6 HKD - Zijin Mining International (02259) declined by 3.35%, trading at 126.9 HKD [1] Market Trends - Gold prices experienced a significant drop, nearing the 4000 USD per ounce mark, with the latest price reported at 4080.27 USD per ounce, down 0.45% [1] - Citibank has shifted its outlook on gold from bullish to bearish, setting a target price of 4000 USD per ounce for the next 0-3 months [1] - CITIC Securities noted that silver trading is overheated, suggesting a slowdown in bullish momentum for both gold and silver [1] Volatility and Demand - The VIX for gold and silver has significantly increased, reaching historically high levels, indicating heightened market volatility [1] - Despite short-term bearish sentiment, there is a long-term bullish outlook for gold due to declining real interest rates, increased market volatility, and rising overall demand for gold [1]

Core Viewpoint - The Hong Kong gold stocks continue to decline, with significant drops in major companies, reflecting a broader trend in the precious metals market as gold and silver prices experience a downturn [1] Group 1: Market Performance - China Silver Group saw a sharp decline of 6%, while Zhaojin Mining and Shandong Gold fell nearly 4%, with Shandong Gold's cumulative drop exceeding 20% over the past eight days [1] - Other companies such as China National Gold and Zhu Feng Gold also experienced declines of over 3%, while Tongguan Gold, Zijin Mining, Chifeng Jilong Gold, and Lingbao Gold all dropped more than 2% [1] Group 2: Price Movements - In the Asian market, gold prices continued to adjust, reaching $4,070 per ounce, down 0.77%, while silver prices fell by 1% to $47.96 per ounce [1] - The Sukdun Financial Research team noted that the decline in precious metal prices may reflect profit-taking and a decrease in safe-haven fund flows rather than movements in U.S. Treasury yields [1] Group 3: Market Reactions - Many gold retailers expressed shock at the volatility of gold prices, reporting a decrease in transaction volumes due to the recent price adjustments [1] - The recent drop in gold prices has also cooled the previously active gold recycling market, with some retailers noting a lack of interest in silver products following a significant price drop [1]

Core Insights - The top three companies with net inflows from southbound funds are China Mobile, Zijin Mining International, and InnoCare Pharma-B, with net inflows of 570 million, 494 million, and 457 million respectively [1] - The top three companies with net outflows are Alibaba-W, Innovent Biologics, and the Tracker Fund of Hong Kong, with net outflows of -1.758 billion, -494 million, and -450 million respectively [1] - In terms of net inflow ratios, E Fund Hang Seng ESG, GX Hang Seng Technology, and China Taiping lead the market with ratios of 99.40%, 75.71%, and 62.07% respectively [1] Net Inflow Rankings - The top net inflow stocks include: - China Mobile (00941) with a net inflow of 570 million and a closing price of 86.400, up 1.29% [2] - Zijin Mining International (02259) with a net inflow of 494 million and a closing price of 139.900, down 5.35% [2] - InnoCare Pharma-B (09606) with a net inflow of 457 million and a closing price of 340.000, up 1.74% [2] Net Outflow Rankings - The top net outflow stocks include: - Alibaba-W (09988) with a net outflow of -1.758 billion and a closing price of 161.900, up 4.86% [2] - Innovent Biologics (01801) with a net outflow of -494 million and a closing price of 86.100, down 0.86% [2] - Tracker Fund of Hong Kong (02800) with a net outflow of -450 million and a closing price of 26.520, up 2.55% [2] Net Inflow Ratio Rankings - The top net inflow ratio stocks include: - E Fund Hang Seng ESG (03039) with a net inflow ratio of 99.40% and a closing price of 3.898, up 2.96% [3] - GX Hang Seng Technology (02837) with a net inflow ratio of 75.71% and a closing price of 7.315, up 3.10% [3] - China Taiping (00966) with a net inflow ratio of 62.07% and a closing price of 16.750, up 2.13% [3]

Core Insights - The report from CITIC Securities indicates that Zijin Mining (02899) benefited from rising gold and copper prices, achieving a revenue of 86.49 billion yuan in Q3 2025, a year-on-year increase of 8.1%, and a net profit attributable to shareholders of 14.57 billion yuan, a year-on-year increase of 57.1% and a quarter-on-quarter increase of 11.0% [1] Group 1 - The production of gold significantly exceeded the annual plan's progress [1] - Copper production decreased quarter-on-quarter due to the flooding incident at the Kamoa-Kakula copper mine in the Democratic Republic of Congo, but the company is actively working on resuming production in the eastern section of the Kamoa mine [1] Group 2 - On September 30, Zijin Gold International (02259) successfully listed on the Hong Kong Stock Exchange, setting multiple IPO records for mining companies [1] - As the controlling shareholder of Zijin Gold International, the company stands to benefit from future high growth and potential value re-evaluation, which may enhance its overall market value [1] Group 3 - Zijin Gold International has completed the acquisition of 100% equity in the Raygorodok gold mine in Kazakhstan, with all conditions for the delivery agreement being met or waived as of October 10, 2025 [1]