西部黄金股份有限公司 2025 年第四次临时股东会 股票简称：西部黄金 股票代码：601069 二〇二五年十二月一日 西部黄金股份有限公司 2025 年第四次临时股东会 目录 | 会议议程 | 3 | | --- | --- | | 议案 | 1：《关于子公司新增日常关联交易的议案》 4 | 2 西部黄金股份有限公司 2025 年第四次临时股东会 会议议程 西部黄金股份有限公司 2025 年第四次临时股东会 会议资料 一、介绍出席现场会议的嘉宾、董事、高级管理人员 二、宣布股东会注意事项 三、宣布出席股东会与会股东资格及持股情况 四、宣布股东会现场会议正式开始,宣布股东会议案表决办法 五、推举计票人和监票人 六、审议议案 1.《关于子公司新增日常关联交易的议案》 七、股东投票表决 八、汇总现场会与网络投票结果 九、宣布二〇二五年第四次临时股东会决议 十、宣布股东会法律意见书 十一、宣布股东会闭幕 西部黄金股份有限公司 2025 年第四次临时股东会 议案 1 关于子公司新增日常关联交易的议案 各位股东： 西部黄金股份有限公司（以下简称"西部黄金"）全资子公司新疆美盛矿业 有限公司（以下简称"新疆美盛"）拟向新疆 ...

Group 1 - The company Western Gold announced that its wholly-owned subsidiary Xinjiang Meisheng plans to sell approximately 8,000 tons of gold concentrate to Xinjiang Wuxin Copper Industry, with a total price of approximately 401.76 million yuan [1] - Xinjiang Meisheng has repaid the principal of 524.79 million yuan borrowed from its controlling shareholder, Xinjiang Nonferrous Metals Industry (Group), and is now planning to repay interest of 65.62 million yuan [1] - Related proposals will be reviewed at the fourth extraordinary general meeting of shareholders in 2025 [1]

Core Viewpoint - The precious metals sector experienced a significant increase of 6.17% on November 19, with Zhongjin Gold leading the gains, while the overall market showed mixed results with slight fluctuations in major indices [1][3]. Group 1: Market Performance - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, showing no change [1]. - Key stocks in the precious metals sector saw notable price increases, with Zhongjin Gold rising by 8.76% to a closing price of 22.72 [1]. Group 2: Stock Performance - The following stocks in the precious metals sector had significant price changes: - Zhongjin Gold: 22.72, +8.76% - Xiaocheng Technology: 25.29, +7.89% - Chifeng Gold: 31.35, +7.00% - Shandong Gold: 36.48, +5.98% - Sichuan Gold: 28.02, +5.70% [1]. Group 3: Fund Flow Analysis - The precious metals sector saw a net inflow of 584 million yuan from main funds, while retail investors experienced a net outflow of 540 million yuan [3]. - Specific stock fund flows included: - Zhongjin Gold: 172 million yuan net inflow from main funds - Shandong Gold: 139 million yuan net inflow from main funds - Chifeng Gold: 117 million yuan net inflow from main funds [3]. Group 4: ETF Information - The gold stock ETF (Product Code: 159562) tracks the CSI Hong Kong and Shanghai Gold Industry Stock Index and has seen a decrease of 2.57% over the past five days, with a current PE ratio of 22.85 [5]. - The ETF's latest share count is 1.24 billion, down by 66 million shares, with a net inflow of 140 million yuan from main funds [5].

Market Overview - The A-share market showed mixed performance with the Shanghai Composite Index up by 0.18%, Shenzhen Component flat, and the ChiNext Index rising by 0.25% [2] - Total market turnover was 17,427 billion, a decrease of 2,033 billion from the previous day, with over 4,100 stocks declining [3][4] Sector Performance - The top-performing sectors included precious metals, military industry, and aquaculture, while sectors such as Hainan, gas, and film and television saw significant declines [5] - The aquaculture sector experienced a notable surge in the afternoon, with stocks like Zhongshui Fishery and Guolian Aquatic Products hitting the daily limit [6][8] Aquaculture Sector - The aquaculture sector saw a collective surge in stock prices, with several companies reaching their daily limit, including Guolian Aquatic Products (+20.09%) and Dahu Co. (+10.08%) [10] - This surge was influenced by reports that the Chinese government has suspended imports of Japanese seafood, a move seen as a response to political tensions [10][11] Precious Metals Sector - The precious metals sector, particularly gold, experienced significant gains, with stocks like Zhongjin Gold rising by 8.76% and Xiaocheng Technology by 7.89% [13] - The rise in gold prices is attributed to market speculation regarding potential interest rate cuts by the Federal Reserve, with a 50% probability of a rate cut in the upcoming FOMC meeting [15] Global Market Context - Since November, global markets have been in a correction phase, with the A-share market showing the smallest decline of only 0.2% compared to significant drops in U.S. and European markets [18] - UBS forecasts a potential 14% increase in the MSCI China Index by the end of 2026, driven by factors such as innovation in AI, supportive policies, and ample liquidity [18][19]

Market Performance - On November 18, gold stocks in Hong Kong and A-shares experienced significant declines, with Lingbao Gold (03330.HK) dropping 8.88%, Tongguan Gold (00340.HK) down 5.38%, and Zhaojin Mining (01818.HK) falling 5.08% [2][3] - In A-shares, Zhongjin Gold (600489.SH) fell 3.51%, Zhaojin Gold (000506.SZ) decreased by 3.34%, and Hunan Gold (002155.SZ) dropped 3.1% [2][3] Gold Price Trends - Spot gold prices faced heavy selling pressure, briefly falling below $4000 per ounce for the first time since November 10, marking the fourth consecutive day of decline [4][5] - As of the latest update, spot gold was reported at $4041.62 per ounce [4] Influencing Factors - The decline in gold prices and stocks is primarily attributed to a strengthening US dollar and a cooling expectation for a Federal Reserve rate cut in December [5][6] - Recent comments from regional Federal Reserve presidents opposing further rate cuts have contributed to market sentiment, emphasizing ongoing inflation concerns [6][7] Market Outlook - Short-term adjustments in the gold market are expected to continue, with institutions predicting a return to a price correction phase following previous optimistic expectations [9][10] - Despite recent declines, gold prices remain elevated, with a year-to-date increase of over 53%, supported by factors such as loose monetary policy and geopolitical tensions [11] Industry Recognition - The "Hong Kong 100 Strong" list is set to launch, highlighting the importance of the gold sector in the Hong Kong market, with companies like Zijin Mining (02899.HK) and Lingbao Gold being notable participants [12][13]

Market Overview - The Shanghai Composite Index closed at 3949.83 points, with a decline of 0.56% [1] - The total trading volume of A-shares reached 1,296.161 billion yuan [1] Technical Analysis - A total of 112 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Shanshui Bide (300844) with a distance of -1.40% - Yingboer (300681) with a distance of -1.28% - Yake Technology (002409) with a distance of -1.06% [1] Individual Stock Performance - Shanshui Bide (300844) saw a decline of 6.62% with a trading turnover rate of 3.31% [1] - Yingboer (300681) decreased by 2.30% with a turnover rate of 2.45% [1] - Yake Technology (002409) fell by 0.20% with a turnover rate of 2.33% [1] - Other notable declines include: - Bohai Automobile (600960) down by 3.53% - Western Gold (601069) down by 2.80% [1] Additional Stock Movements - Stocks such as Muyu (002714) and Qinglong (002457) showed slight increases of 0.80% and -3.28% respectively [2] - The stock performance of various companies indicates a mixed sentiment in the market, with several stocks experiencing declines while a few managed to gain [2]

Core Viewpoint - Western Gold has experienced significant stock price fluctuations, with a year-to-date increase of 129.82% but a recent decline in the last five and twenty trading days [1][2]. Financial Performance - For the period from January to September 2025, Western Gold achieved operating revenue of 10.404 billion yuan, representing a year-on-year growth of 106.21% [2]. - The net profit attributable to the parent company for the same period was 296 million yuan, reflecting a year-on-year increase of 130.22% [2]. Stock Market Activity - As of November 18, Western Gold's stock price was 26.20 yuan per share, with a market capitalization of 23.868 billion yuan [1]. - The stock has seen a net outflow of 20.365 million yuan in principal funds, with significant selling pressure in the last trading session [1]. Shareholder Information - As of September 30, 2025, the number of shareholders for Western Gold increased to 79,400, up 62.53% from the previous period [2]. - The top ten circulating shareholders include notable entities such as Hong Kong Central Clearing Limited and Qianhai Kaiyuan Gold and Silver Jewelry Mixed A [3]. Dividend Distribution - Since its A-share listing, Western Gold has distributed a total of 247 million yuan in dividends, with 99.41 million yuan distributed over the past three years [3].

Core Viewpoint - The gold stocks in both A-shares and Hong Kong stocks experienced a significant decline on November 18, with major companies in the sector reporting losses exceeding 2% [1][2]. Group 1: A-share Market Performance - The precious metals sector in A-shares showed a uniform decline, with notable companies such as Hunan Silver, Hengbang Shares, Zhongjin Gold, and Zhaojin Gold all falling by more than 2% [1]. - Specific stock performance included Hunan Silver down by 2.83% to 6.18, Hengbang Shares down by 2.24% to 13.07, Zhongjin Gold down by 2.08% to 21.20, and Zhaojin Gold down by 2.04% to 12.02 [2]. Group 2: Hong Kong Market Performance - In the Hong Kong market, Lingbao Gold fell over 6%, Tongguan Gold dropped more than 4%, and both Zijin Mining International and China National Gold fell nearly 4% [2]. - Other notable declines included Shandong Gold and Chifeng Jilong Gold, both down over 2% [2]. Group 3: Gold Price Movement - The spot gold price fell below 4020 USD per ounce at one point, indicating a downward trend in gold prices [3].

Market Overview - The precious metals sector experienced a decline of 1.74% on November 17, with Zhaojin Mining leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Individual Stock Performance - Zhaojin Mining (000506) closed at 12.27, down 3.54% with a trading volume of 305,600 shares and a turnover of 375 million yuan [1] - Hunan Silver (002716) closed at 6.37, down 3.48% with a trading volume of 1,081,300 shares and a turnover of 690 million yuan [1] - Western Gold (601069) closed at 26.74, down 2.41% with a trading volume of 143,900 shares and a turnover of 384 million yuan [1] - Other notable declines include Chifeng Jilong Gold Mining (600988) down 2.16% and Shandong Gold (600547) down 1.98% [1] Capital Flow Analysis - The precious metals sector saw a net outflow of 645 million yuan from institutional investors, while retail investors contributed a net inflow of 543 million yuan [1] - The table indicates that Zhaojin Mining had a net outflow of 6.74 million yuan from institutional investors, but a net inflow of 17.59 million yuan from retail investors [2] - Hunan Gold (002155) experienced a significant net outflow of 60.43 million yuan from institutional investors, while retail investors contributed a net inflow of 58.24 million yuan [2]

Group 1 - The core viewpoint of the article highlights a significant decline in the A-share precious metals sector, with notable drops in specific companies [2] Group 2 - On November 17, the A-share precious metals sector experienced a continuous downturn [2] - Companies such as Zhaojin Gold and Hunan Silver saw declines exceeding 4% [2] - Other companies including Chifeng Jilong Gold, Western Gold, and Hunan Gold also followed the downward trend [2]