Group 1 - The gold sector has seen significant stock price increases, with a 3.61% rise on October 29, driven by strong earnings reports and stable gold prices [1] - Shandong Gold reported third-quarter revenue of 27.017 billion yuan, a year-on-year increase of 27.25%, and a net profit of 1.148 billion yuan, up 68.24% year-on-year [1] - Among the 11 companies in the gold sector, Western Gold, Zhaojin Mining, and Sichuan Gold all reported revenue and net profit growth exceeding 100% for the third quarter [1] Group 2 - Guoxin Securities indicates that international gold prices are experiencing volatility due to easing geopolitical risks and market sentiment shifts, with upcoming U.S. data and policy decisions expected to catalyze significant movements in gold prices [2] - Long-term bullish sentiment on gold remains intact, with expectations of high volatility in gold prices during the fourth quarter, driven by potential interest rate cuts by the Federal Reserve [2] - Emerging market central banks are expected to continue purchasing gold through 2025, reinforcing the long-term bullish outlook for gold as a hedge against debt sustainability and a weakening dollar [2]

Major Events - Shanghai Zhiyuan Hengyue Technology completed the tender offer for Shangwei New Materials, acquiring 58.6232% of the shares, with trading resuming on October 30, 2025 [4] - Peking University Pharmaceutical's chairman and president Xu Xiren has been detained for criminal investigation, but the company's control and operations remain normal [5] - China Unicom's chairman Chen Zhongyue resigned due to work adjustments, effective October 29, 2025 [6][7] - CITIC Financial Assets increased its stake in Hangyang Co., Ltd. to 5% through a block trade, reflecting confidence in the company's future [8] - Haoshi Electromechanical's subsidiary plans to invest 232 million yuan in a high-end equipment intelligent manufacturing project [9] - Zhejiang Xiantong's second shareholder Li Qifu plans to invest 130 million yuan in Qiteng Robotics to enhance production capacity [10] - Qianjiang Biochemical's subsidiary has completed a project for bio-pesticide production, with an annual capacity of 3,261 tons [11] - Dongni Electronics will face risk warnings and a one-day suspension due to an administrative penalty [12] - Jindao Technology signed a strategic cooperation agreement with Hangcha Group to develop robotic joint modules [14] Performance Overview - Kweichow Moutai reported Q3 net profit of 19.224 billion yuan, a 0.48% increase year-on-year, with total revenue of 39.064 billion yuan [15] - Huibai New Materials achieved a Q3 net profit of 27.1307 million yuan, a 3066.26% increase year-on-year, with revenue growth of 49.59% [16] - Zangzi Island reported a Q3 net loss of 42.5226 million yuan, with revenue down 19.92% [17] - OFILM reported a Q3 net profit of 40.8235 million yuan, a 411.91% increase year-on-year, with revenue growth of 21.15% [18] - China Rare Earth's Q3 net profit was 30.4752 million yuan, down 26.43% year-on-year, with revenue declining 22.4% [19] - Tianqi Lithium reported a Q3 net profit of 95.4855 million yuan, turning a profit after previous losses [20] - New Yisheng's Q3 net profit was 2.385 billion yuan, a 205.38% increase year-on-year, driven by AI-related sales growth [21] - Industrial Fulian's Q3 net profit increased by 49% year-on-year [22] - CICC's Q3 net profit grew by 130% year-on-year [23] - Tianpu Co., Ltd. reported a Q3 net profit increase of 33% [24] - BlueFocus reported a Q3 net profit of 99.2389 million yuan, a 265.47% increase year-on-year [25] - Ningshui Group's Q3 net profit was 21.7388 million yuan, a 347.57% increase year-on-year [26] - Shoukai Co. reported a Q3 net loss of 3.105 billion yuan [27] - Xiamen Xiangyu's Q3 net profit was 601 million yuan, a 443.17% increase year-on-year [29] - Huaneng Intelligent reported a Q3 net loss of 53.8408 million yuan, a significant decline [30] - Zhongjin Gold's Q3 net profit increased by 39.18% year-on-year [31] - Shandong Gold's Q3 net profit increased by 92% year-on-year [32] - Yahua Group's Q3 net profit was 198 million yuan, a 278.06% increase year-on-year [33] - Western Gold's Q3 net profit increased by 168% year-on-year [34] - Laobai Gan Liquor reported a 28% decline in net profit for the first three quarters [35] - Kaiying Network's Q3 net profit was 633 million yuan, a 34.51% increase year-on-year [36] - Tongchen Beijian reported a Q3 net profit of 171 million yuan, turning a profit from previous losses [37] - Nanshan Holdings' Q3 net profit increased by 203.51% year-on-year [38] - China Merchants Bank's Q3 net profit was 38.842 billion yuan, a 1.04% increase year-on-year [39] - Huahong Technology's Q3 net profit increased by 7111% year-on-year [40] - Fangda Special Steel's Q3 net profit increased by 1368.1% year-on-year [41] Shareholding Changes - WuXi AppTec's controlling shareholder plans to reduce its stake by up to 2% [43] - Hecai Technology's major shareholder Bosch China plans to reduce its stake by up to 3% [44] Major Contracts - China Electric Power Construction signed a contract worth 6.568 billion yuan for a hospital project in Peru [45] - Lanshi Heavy Industry signed a significant contract in the nuclear energy sector worth 581 million yuan [46] - Guoke Military Industry's subsidiary signed a major sales contract worth 466 million yuan [48]

Core Viewpoint - Shandong Gold (01787) reported a significant increase in revenue and net profit for the first three quarters of 2025, driven by optimized production layout, enhanced core technology, and rising gold prices [1] Financial Performance - The company's operating revenue reached approximately 83.783 billion yuan, representing a year-on-year growth of 25.04% [1] - Net profit attributable to shareholders was about 3.956 billion yuan, showing a substantial year-on-year increase of 91.51% [1] - Basic earnings per share stood at 0.8 yuan [1] Operational Efficiency - The growth in performance was attributed to the company's efforts in optimizing production layout and improving operational efficiency [1] - Enhanced resource utilization and project construction speed contributed to the overall performance improvement [1] - The increase in sales volume was also a key factor, alongside the rise in gold prices [1]

Group 1 - The recent fluctuations in international gold prices have been significant, with prices experiencing a notable drop after a period of continuous increase [2][3] - Since 2025, both international and domestic gold prices have been on the rise, with international spot gold prices nearing $4,400 per ounce and domestic prices surpassing 900 yuan per gram [3] - The increase in gold prices is attributed to multiple macroeconomic factors, including a surge in global gold investment, significant purchases by central banks in emerging economies, geopolitical tensions, and ongoing inflationary pressures [3] Group 2 - China National Gold Group reported a 7.97% year-on-year increase in Q3 revenue, reaching 18.909 billion yuan, with net profit rising by 9.28% to 984 million yuan [5] - Shandong Gold reported a 27.25% increase in Q3 revenue to 27.017 billion yuan, with net profit soaring by 68.24% to 1.148 billion yuan, driven by optimized production and increased sales [5] - Western Gold reported a remarkable 159.73% increase in Q3 revenue to 5.374 billion yuan, with net profit up 205.56% to 170 million yuan, attributed to higher sales volumes and prices of gold products [6]

证券日报网讯 10月29日晚间，山东黄金发布2025年第三季度报告称，2025年第三季度公司实现营业收 入27，017，278，703.76元，同比增长27.25%；归属于上市公司股东的净利润为1，147，985，784.92 元，同比增长68.24%。 （文章来源：证券日报） ...

格隆汇10月29日丨山东黄金(01787.HK)发布公告，2025年前三季度，实现营业收入837.83亿元(人民币， 下同)，同比增加25.04%；归属于上市公司股东的净利润39.56亿元，同比增加91.51%；归属于上市公司 股东的扣除非经常性损益的净利润39.45亿元，同比增加88.43%；基本每股收益0.80元。 ...

Financial Performance - The company's operating revenue for the third quarter reached CNY 27,017,278,703.76, representing a year-on-year increase of 27.25%[10] - Total profit for the quarter was CNY 2,084,408,258.71, reflecting a 33.70% increase compared to the same period last year[10] - Net profit attributable to shareholders was CNY 1,147,985,784.92, which is a significant increase of 68.24% year-on-year[10] - The basic earnings per share for the quarter was CNY 0.23, up 76.92% from the previous year[10] - The total comprehensive income for the first three quarters of 2025 was CNY 5.32 billion, compared to CNY 3.25 billion in 2024, marking a growth of approximately 63.7%[34] - Basic and diluted earnings per share for the period were both CNY 0.80, compared to CNY 0.39 in the previous year, indicating an increase of 105.1%[34] - Net profit attributable to shareholders of the parent company was CNY 3.96 billion, up from CNY 2.07 billion year-over-year, reflecting an increase of about 91.5%[33] Assets and Liabilities - The company's total assets as of the end of the quarter amounted to CNY 171,961,982,952.41, an increase of 7.03% from the end of the previous year[10] - The equity attributable to shareholders increased to CNY 44,455,351,165.06, marking a 17.61% rise compared to the previous year[10] - The company's total assets as of September 30, 2025, were ¥171.96 billion, compared to ¥160.66 billion at the end of 2024, marking an increase of about 6.5%[29] - Total liabilities as of September 30, 2025, were ¥108.22 billion, up from ¥102.09 billion in 2024, indicating an increase of about 6.5%[29] - The company's total liabilities stood at CNY 58.15 billion as of September 30, 2025, compared to CNY 58.13 billion at the end of 2024, showing a marginal increase[43] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 15,196,015,447.51, showing a 49.06% increase[10] - The net cash flow from operating activities was approximately ¥1.08 billion, up from ¥921.8 million in the previous year, reflecting a year-over-year increase of 17.6%[49] - Cash inflow from investment activities totaled CNY 13.24 billion, while cash outflow was CNY 21.27 billion, resulting in a net cash flow of -CNY 8.04 billion, an improvement from -CNY 19.27 billion in 2024[39] - The company's total cash and cash equivalents at the end of the period amounted to CNY 16.11 billion, up from CNY 8.50 billion at the end of the previous year, indicating a growth of 89.5%[40] - The total cash and cash equivalents at the end of the period reached approximately ¥4.70 billion, compared to ¥844.07 million at the end of the same period in 2024, showing a substantial increase[50] Operational Efficiency - The total profit for the current reporting period increased by 33.70% due to optimization of production layout and enhanced operational efficiency[19] - The net profit attributable to shareholders for the current reporting period was 68.24% higher compared to the previous period, driven by increased sales volume and rising gold prices[20] - The company plans to continue enhancing its core technology and operational efficiency to further improve production rates and resource utilization[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 102,846[22] - The largest shareholder, Shandong Gold Group Co., Ltd., holds 1,623,179,427 shares, representing 35.21% of the total shares[22] Research and Development - Research and development expenses for the first three quarters of 2025 amounted to ¥564.35 million, up from ¥484.14 million in 2024, reflecting a growth of approximately 16.6%[32] - Research and development expenses for the first three quarters of 2025 were CNY 90.46 million, slightly up from CNY 87.23 million in the same period of 2024[46] Investment Performance - The net loss from investment activities for the first three quarters of 2025 was ¥467.48 million, compared to a loss of ¥157.45 million in 2024, indicating a deterioration in investment performance[32] - The company reported a fair value gain of CNY 174.61 million in the first three quarters of 2025, compared to CNY 56.54 million in the same period of 2024, indicating a substantial increase[46]

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 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之任何損失承擔任何責 任。 SHANDONG GOLD MINING CO., LTD. 山東黃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：1787） 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 作 出。 茲載列山東黃金礦業股份有限公司（「 本公司 」）在 上 海 證 券 交 易 所 網 站 (www.sse.com.cn)刊登之《山 東 黃 金 礦 業 股 份 有 限 公 司 第 七 屆 董 事 會 第 五 次 會 議 決 議 公 告》，僅 供 參 閱。 承董事會命 董事長 韓耀東 中 國 濟 南，2025年10月29日 於 本 公 告 日 期，本 公 司 執 行 董 事 為 修 國 林 先 生、徐 建 新 先 生、湯 琦 先 生 和 劉 延 芬 女 士；本 公 司 ...

Core Points - The State-Owned Enterprise Reform Index (399974) closed at 1930.82 points, up 0.92%, with a trading volume of 1640.27 billion yuan and a turnover rate of 0.79% [1] - Among the index constituents, 70 stocks rose, with Western Superconducting leading with a 9.34% increase, while 27 stocks fell, with Postal Savings Bank leading the decline at 2.14% [1] Index Constituents Summary - The top ten constituents of the State-Owned Enterprise Reform Index include: - Zijin Mining: 3.46% weight, latest price 30.96, up 3.75%, market cap 8228.42 billion yuan [1] - Northern Huachuang: 3.02% weight, latest price 423.62, down 0.56%, market cap 3067.38 billion yuan [1] - CITIC Securities: 2.94% weight, latest price 30.30, up 1.00%, market cap 4490.63 billion yuan [1] - Changjiang Electric Power: 2.80% weight, latest price 28.29, down 0.60%, market cap 6922.06 billion yuan [1] - Taihai Co.: 2.80% weight, latest price 19.43, up 3.19%, market cap 3425.30 billion yuan [1] - China Merchants Bank: 2.75% weight, latest price 40.77, down 2.00%, market cap 10282.13 billion yuan [1] - Wuliangye: 2.72% weight, latest price 118.83, down 1.06%, market cap 4612.51 billion yuan [1] - Zhongke Shuguang: 2.69% weight, latest price 114.33, up 0.73%, market cap 1672.78 billion yuan [1] - Industrial Bank: 2.67% weight, latest price 20.01, down 2.01%, market cap 4234.69 billion yuan [1] - China Shipbuilding: 2.41% weight, latest price 36.73, up 0.30%, market cap 2764.16 billion yuan [1] Capital Flow Summary - The net capital flow for the index constituents showed a total net outflow of 3.6 billion yuan from main funds and 7.45 billion yuan from speculative funds, while retail investors had a net inflow of 11.05 billion yuan [3] - Key capital flow details include: - Zijin Mining: Main net inflow of 9.96 million yuan, speculative net outflow of 3.35 million yuan, retail net outflow of 6.61 million yuan [3] - Inspur Information: Main net inflow of 4.27 million yuan, speculative net outflow of 1.33 million yuan, retail net outflow of 2.94 million yuan [3] - China Aluminum: Main net inflow of 3.83 million yuan, speculative net outflow of 1.05 million yuan, retail net outflow of 2.78 million yuan [3] - TCL Zhonghuan: Main net inflow of 3.17 million yuan, speculative net outflow of 1.27 million yuan, retail net outflow of 1.91 million yuan [3]

Core Viewpoint - Shandong Gold (600547.SH) reported significant growth in both revenue and net profit for the third quarter and the first three quarters of the year, driven by optimized production layout, enhanced core technology, and favorable market conditions [1] Financial Performance - Q3 revenue reached 27.017 billion yuan, a year-on-year increase of 27.25% [1] - Q3 net profit was 1.148 billion yuan, reflecting a year-on-year growth of 68.24% [1] - Revenue for the first three quarters totaled 83.783 billion yuan, up 25.04% year-on-year [1] - Net profit for the first three quarters amounted to 3.956 billion yuan, showing a substantial year-on-year increase of 91.51% [1] Operational Efficiency - The company's performance improvement is attributed to a coordinated enhancement of production efficiency, resource utilization, and project construction speed [1] - Strengthened core technology efforts have contributed to operational effectiveness [1] Market Conditions - The company benefited from rising gold prices and increased sales volume, which positively impacted overall financial results [1]