Xin Lang Cai Jing·2025-09-02 04:51Core Viewpoint - Shandong Gold (01787.HK) plans to raise approximately HKD 3.9 billion through the placement of H-shares to repay company debts [1] Group 1: Fundraising and Debt Repayment - On September 2, Shandong Gold announced an agreement with placement agents to issue up to 136.5 million H-shares at HKD 28.58 per share [1] - The total expected proceeds from the placement are approximately HKD 39.01 billion, with a net amount of about HKD 38.92 billion, which will be used to repay company debts [1] - As of June 30, Shandong Gold's total liabilities amounted to approximately HKD 114.5 billion, with a debt ratio of 63.11%, a decrease of 0.43 percentage points from the end of the previous year [1] Group 2: Shareholder Structure and Company Background - As of the first half of this year, the largest shareholder of Shandong Gold is Shandong Gold Group, holding 36.23% of shares [2] - Shandong Gold Group has previously issued a short-term financing bond of HKD 1 billion to repay maturing debts, with a total outstanding domestic bond balance of HKD 36 billion [4] - Shandong Gold Group, established in 1996 and restructured in 2015, ranks among the top 10 gold producers globally [4] Group 3: Business Performance - In the first half of the year, Shandong Gold achieved a revenue of approximately HKD 56.77 billion, a year-on-year increase of 24.01%, and a net profit of HKD 2.81 billion, up 102.98% year-on-year [5] - The company's gold production reached 24.71 tons, accounting for 17.72% of the domestic gold mining output, with overseas mines contributing 5.67 tons [5] - The company aims to increase the number of its gold-producing mines from 12 to 13 by 2025 [5]