Core Viewpoint - Shandong Gold has decided to terminate its plan to issue A-shares to specific investors and has applied to withdraw the related application documents, aiming to optimize its financing methods in light of the current capital market conditions and the recent successful H-share placement [1][3]. Group 1: Financing and Capital Market Activities - The decision to terminate the A-share issuance plan follows a three-year process that began with board meetings in June 2022, where the issuance plan was approved [3]. - The total investment for the gold resource development project at Shandong Gold Mining (Laizhou) Co., Ltd. is 8.273 billion yuan, with the A-share issuance intended to raise no more than 4.6 billion yuan [3]. - The company has successfully completed an H-share placement, raising approximately 3.892 billion HKD, which will be used to repay company debts [6]. Group 2: Financial Performance - In the first half of the year, Shandong Gold reported total operating revenue of 56.766 billion yuan, a year-on-year increase of 24.01%, and a net profit attributable to shareholders of 2.808 billion yuan, up 102.98% [6]. - As of June 30, the company had cash and cash equivalents of 12.523 billion yuan and short-term borrowings of 29.387 billion yuan, resulting in a debt-to-asset ratio of 63.11% [6]. Group 3: Future Plans - Shandong Gold's subsidiary, Shanjin International, plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange, considering the interests of existing shareholders and market conditions [7].

Core Viewpoint - Zhongyuan New Materials (603527) has announced the termination of its plan to issue convertible bonds to unspecified investors, citing a reassessment of its financing strategy in light of current market conditions and company circumstances [1][2]. Group 1: Announcement Details - The company held its fifth board meeting on April 25, 2025, where it approved the resolution to terminate the issuance of convertible bonds [1]. - In previous meetings, the company had planned to issue convertible bonds totaling up to RMB 700 million, intended for projects including a high-precision copper alloy production line and a battery foil project [1]. Group 2: Reasons for Termination - The decision to terminate the bond issuance was based on a comprehensive evaluation of the current capital market environment, policy changes, and the company's operational status and development plans [2]. - The company stated that the termination would not adversely affect its production and operations, nor would it harm the interests of shareholders, particularly minority shareholders [2].