Group 1 - The core point of the news is that Zijin Mining Group Co., Ltd. has reduced its stake in WanGuo Gold Group by selling 2.31 million shares at an average price of HKD 32.5236 per share, amounting to approximately HKD 75.1295 million [1] - After the sale, Zijin Mining's total shareholding in WanGuo Gold Group is now 183,790,000 shares, which represents a decrease in ownership percentage from 17.17% to 16.96% [1][2]

Core Viewpoint - The company announced that its founder and major shareholder, Mr. Gao Mingqing, purchased 200,000 shares of the company at an average price of HKD 29.8262 per share, increasing his stake in the company [1] Group 1 - The acquisition occurred on August 22, 2025, through Gao's wholly-owned subsidiary, Jiesheng Investment Limited [1] - Following the acquisition, Jiesheng holds a total of 282 million shares, which represents approximately 25.98% of the company's total issued share capital as of the announcement date [1]

Core Viewpoint - The announcement indicates that Mr. Gao Mingqing, the founder and major shareholder of the company, has demonstrated confidence in the company's future and growth potential by purchasing 200,000 shares at an average price of HKD 29.8262 per share, increasing his stake to approximately 25.98% of the total issued share capital [1] Group 1 - The company announced that Mr. Gao Mingqing acquired a total of 200,000 shares through his wholly-owned subsidiary, Jiesheng Investment Limited, on August 22, 2025 [1] - Following the acquisition, Jiesheng holds 282 million shares, which Mr. Gao is deemed to have an interest in [1] - The board of directors views this acquisition as a sign of Mr. Gao's long-term commitment to the company [1]

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，並明確表示概不就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。 Wanguo Gold Group Limited 萬國黃金集團有限公司 (於開曼群島註冊成立之有限公司) (股份代號: 3939) 根據本公司現有資料及董事會所知，在完成收購事項後以及截至本公告日期，本公司仍然維持足夠的 股份公眾持股量。 本公司股東及潛在投資者於買賣本公司證券時，務請謹慎行事。 1 自願公告 主要股東增持股份 本公告乃由萬國黃金集團有限公司（「本公司」）自願作出。 於2025年8月24日，本公司董事會（「董事會」）獲本公司的創始人、執行董事、董事長、首席執行官 兼主要股東及董事會主席高明清先生（「高先生」）通知，高先生於2025年8月22日已於公開市場通過 由其全資擁有的捷昇投資有限公司（「捷昇」）購買本公司合共200,000股本公司股份（「股份」），平 均價為每股29.8262港元（「收購事項」）。 緊接收購事項後，捷昇持有本公司281,600,000股股份（高先生被視為擁有該等股份 ...

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong operational performance and growth potential in its mining projects [1][2]. Financial Performance - The company achieved revenue of approximately 1.24 billion yuan, a year-on-year increase of 33.7% [1]. - The net profit attributable to shareholders was about 601 million yuan, reflecting a year-on-year growth of 136.3% [1]. - The interim dividend declared was 20.30 Hong Kong cents, translating to a cash dividend payout ratio of approximately 33.4% [1]. Core Product Performance - The copper equivalent sales volume from the Jiangxi Yifeng Xinzhang Mine was approximately 4,207 tons, a decrease of 9.8% year-on-year, primarily due to a 67-day temporary shutdown for technical upgrades [1]. - The gold sales volume from the Solomon Islands Jinling Mine reached approximately 1,337 tons, an increase of 29.7% year-on-year, driven by improvements in ore processing and recovery rates [1]. Cost Analysis - The unit sales cost for copper equivalent from the Jiangxi Yifeng Xinzhang Mine was approximately 31,700 yuan per ton, showing a slight increase of 0.3% year-on-year [1]. - The unit sales cost for gold from the Solomon Islands Jinling Mine was approximately 178.77 yuan per gram, a significant decrease of 16.11% year-on-year, attributed to enhanced processing and recovery rates [1]. Project Development - The Jiangxi Yifeng Xinzhang Mine currently processes over 1 million tons of ore annually, with a copper equivalent annual production capacity of about 10,000 tons and a remaining mine life of over 20 years [1]. - The Solomon Islands Jinling Mine, which began production in November 2022, achieved gold sales of 1,546 kilograms in 2023 and is projected to reach 2,371 kilograms in 2024 [2]. - The Jinling Mine's flotation production is nearing its design capacity, with an average daily output of 9,500 tons expected to increase to 12,000 tons in the second half of the year [2]. - An expansion project for the Jinling Mine, targeting an additional 10 million tons per year, is set to commence on August 13, 2025, with an estimated construction period of three years [2]. Investment Outlook - The company is projected to achieve revenues of 3.40 billion, 4.83 billion, and 5.55 billion yuan for 2025-2027, with year-on-year growth rates of 81.5%, 41.9%, and 14.8% respectively [2]. - The net profit attributable to shareholders is expected to be 1.45 billion, 2.07 billion, and 2.38 billion yuan for the same period, with growth rates of 151.9%, 42.6%, and 14.9% respectively [2]. - The diluted EPS is forecasted to be 1.34, 1.91, and 2.19 yuan, with corresponding PE ratios of 24, 17, and 15 times [2]. - Given the strong growth potential, particularly post-expansion of the Jinling Mine, the company is assigned a valuation target of 28-30 times for 2025, translating to a stock value between 41.03 and 43.96 Hong Kong dollars, indicating a potential upside of approximately 17%-25% from current levels [2].

[Wanguo Gold Group Limited 2024 Annual Report Supplemental Announcement](index=1&type=section&id=Wanguo%20Gold%20Group%20Limited%202024%20Annual%20Report%20Supplemental%20Announcement) [Announcement Background and Scope](index=1&type=section&id=Announcement%20Background%20and%20Scope) This announcement supplements the 2024 annual report, providing additional details on the 2024 Share Award and Share Option Schemes, with other report content remaining unchanged - This announcement supplements the company's annual report for the year ended December 31, 2024, published on April 28, 2025[3](index=3&type=chunk) - The supplementary content primarily concerns the 2024 Share Award Scheme and the 2024 Share Option Scheme[3](index=3&type=chunk) - All other information in the annual report remains unchanged, except for the details disclosed in this announcement[3](index=3&type=chunk) [2024 Share Award Scheme](index=1&type=section&id=2024%20Share%20Award%20Scheme) Grantees under the 2024 Share Award Scheme may pay a Board-determined consideration for awarded shares within ten business days of the grant date - Grantees may be required to pay the company consideration for accepting the share awards[4](index=4&type=chunk) - Such payment, if any, must be made within **ten business days** from the date of grant[4](index=4&type=chunk) - The payment amount is determined by the Board[4](index=4&type=chunk) [2024 Share Option Scheme](index=1&type=section&id=2024%20Share%20Option%20Scheme) Grantees under the 2024 Share Option Scheme must pay **HK$1.00** to the company within fourteen days for accepting granted options - Grantees are required to pay the company **HK$1.00** as consideration for accepting the share options[4](index=4&type=chunk) - This payment must be completed within **fourteen days** from the date of grant[4](index=4&type=chunk) [Board Composition](index=1&type=section&id=Board%20Composition) The announcement details the Board's composition as of the date of publication, including executive, non-executive, and independent non-executive directors - Executive Directors include Mr. Gao Mingqing (Chairman), Ms. Gao Jinzhu, Mr. Liu Zhichun, and Mr. Wang Guobiao[3](index=3&type=chunk) - The Non-Executive Director is Mr. Wang Renxiang[3](index=3&type=chunk) - Independent Non-Executive Directors include Mr. Zeng Weixiong, Mr. Wang Zhiming, and Mr. Wang Xin[3](index=3&type=chunk)

Group 1 - The company plans to sell a total of 22.5 million shares, representing approximately 2.03% of the company's issued share capital after subscription [2] - The purchase price of HKD 32.55 per share reflects a discount of about 7.00% compared to the closing price of HKD 35.00 on August 20, 2025 [2] - The estimated net proceeds from the subscription are approximately HKD 722 million, which will be used for exploration and development projects related to the Jinling Mine and general working capital [2][3] Group 2 - The company has entered into an agreement with Victor Soar Investments Limited and Prominence Investment Holding Company Limited for the sale of shares [3] - The agreement includes provisions for the sale of 7.5 million shares at the same price of HKD 32.55 per share, which represents about 0.69% of the company's issued share capital as of the announcement date [3] - The placement agent will facilitate the purchase of shares by at least six subscribers on a best-efforts basis [3]

Group 1 - The core point of the news is that WanGuo Gold Group announced a placement of 22.5 million shares at a price of HKD 32.55 per share, which represents a 7% discount to the closing price on August 20, raising HKD 732 million [1] - Shareholder Prominence Investment Holding Company Limited sold 7.5 million shares at the same price, cashing out HKD 244 million [1] - Following the placement and sale, the chairman and major shareholder Gao Mingqing's stake decreased from 25.96% to 25.44%, while Prominence's stake fell from 3.71% to 2.95% [1] Group 2 - The net proceeds from the placement amount to HKD 722 million, with 50% allocated for exploration and development projects related to the Jinling Mine, and the other 50% for general working capital [1] - The placement and the sale by Prominence are simultaneous but not conditional upon each other [1]

Investment Rating - The report initiates coverage with an "Outperform" rating for the company [3][5][34]. Core Views - The company achieved a revenue of approximately 1.24 billion RMB in the first half of 2025, representing a year-on-year increase of 33.7%. The net profit attributable to shareholders was about 601 million RMB, up 136.3% year-on-year [1][9]. - The company is set to launch a new project with a capacity of 10 million tons per year at the Gold Ridge Mine, which is expected to significantly boost gold production [2][25]. - The report forecasts revenues for 2025-2027 to be 3.404 billion, 4.832 billion, and 5.546 billion RMB, with year-on-year growth rates of 81.5%, 41.9%, and 14.8% respectively [3][34]. Summary by Sections Financial Performance - In the first half of 2025, the company reported a gross profit of approximately 868 million RMB, with a gross margin of about 70% and a net profit margin of 53.6% [9]. - The unit sales cost for copper equivalent from the Yifeng Xinzhang Mine was approximately 31,700 RMB per ton, nearly unchanged year-on-year, while the unit sales cost for gold from the Gold Ridge Mine was about 178.77 RMB per gram, down 16.11% year-on-year, indicating significant cost optimization [12][1]. Production Capacity and Projects - The Yifeng Xinzhang Mine currently has an annual processing capacity exceeding 1 million tons, with a copper equivalent annual production capacity of about 10,000 tons and a remaining mine life of over 20 years [2][20]. - The Gold Ridge Mine, which began production in November 2022, achieved gold metal sales of approximately 1,337 tons in the first half of 2025, a 29.7% increase year-on-year, driven by improved processing volume and recovery rates [2][10]. Valuation and Market Potential - The report sets a valuation target for the company at 28-30 times earnings for 2025, translating to a stock value between 41.03 and 43.96 HKD, indicating a potential upside of approximately 17%-25% from the current stock price of 35.00 HKD [3][34]. - The projected diluted EPS for 2025-2027 is 1.34, 1.91, and 2.19 RMB, with corresponding PE ratios of 24, 17, and 15 [3][34].

公司先旧后新配股所得款项净额7.22亿港元，50%用作有关金岭矿(集团在其中采矿)勘探及开发项目之 拨款，及50%用作集团一般营运资金。先旧后新出售及减持出售为同时进行并将同步完成，但并非互为 条件。 智通财经APP获悉，万国黄金集团(03939)跌超6%，截至发稿，跌6.17%，报32.84港元，成交额10.27亿 港元。 消息面上，万国黄金集团宣布，先旧后新配售2250万股，每股配售价32.55港元，较8月20日收市价折让 7%，集资7.32亿港元。另外，股东Prominence Investment Holding Company Limited按每股32.55港元出售 750万股，套现2.44亿港元。紧随先旧后新出售、认购及减持出售完成后，主席兼执行董事兼大股东高 明清持股由25.96%降至25.44%，而Prominence持股由3.71%降至2.95%。Prominence最终实益拥有人为魏 嘉明及吴振兴。 ...