Core Viewpoint - The company is planning to issue H shares for its subsidiary, Shandong Gold International, to enhance its global strategy, optimize capital structure, and improve competitiveness through listing on the Hong Kong Stock Exchange [6][12]. Meeting Arrangements - The meeting is scheduled for September 19, 2025, at 9:00 AM, with a combination of on-site and online voting [4][5]. - Shareholders must arrive 15 minutes early for registration and must present identification and authorization documents [2][3]. Agenda Items - The meeting will discuss several key proposals, including: 1. Issuing H shares for Shandong Gold International and listing on the Hong Kong Stock Exchange [6][12]. 2. Specific plans for the issuance of H shares [7][8]. 3. Transitioning Shandong Gold International to a foreign-funded company [11]. 4. Fund usage plans from the H share issuance [13]. 5. Guarantee proposals between subsidiaries [14] [15]. Issuance Details - The proposed H shares will be listed on the Hong Kong Stock Exchange, with a maximum issuance of 15% of Shandong Gold International's total share capital [8][9]. - The pricing will be determined based on market conditions and investor demand [9][10]. Fund Utilization - Funds raised will be allocated for mining construction, exploration, acquisitions, debt repayment, and working capital [13]. Guarantee Information - A guarantee of up to $26 million will be provided for a solar power project, with a duration of 14 years [14]. - The total amount of guarantees provided by Shandong Gold International will be disclosed, with no overdue guarantees reported [14].

Group 1 - The board of directors of Shandong Gold Mining Co., Ltd. held its third meeting of the seventh session on September 1, 2025, via communication, with all 9 directors present, complying with relevant regulations [1][2] - The board approved the proposal for the issuance of H-shares based on general authorization, which had been reviewed by the strategic committee prior to the meeting [1] - The board also approved a proposal for guarantees between wholly-owned subsidiaries of its controlling subsidiary, Shanjin International, which had been reviewed by the audit committee [1] Group 2 - The company plans to hold its fourth extraordinary general meeting of shareholders on September 19, 2025, combining on-site and online voting [2] - The agenda for the upcoming shareholders' meeting includes proposals related to the issuance of H-shares by Shanjin International and the use of raised funds [2]

以通过其任一股东账户参加。投票后，视为其全部股东账户下的相同类别普通股 和相同品种优先股均已分别投出同一意见的表决票。 持有多个股东账户的股东，通过多个股东账户重复进行表决的，其全部股 东账户下的相同类别普通股和相同品种优先股的表决意见，分别以各类别和品种 股票的第一次投票结果为准。 （三）同一表决权通过现场、本所网络投票平台或其他方式重复进行表决的， 以第一次投票结果为准。 （四）股东对所有议案均表决完毕才能提交。 四、 会议出席对象 (一) 股权登记日收市后在中国证券登记结算有限责任公司上海分公司登记在 册的公司股东有权出席股东会（具体情况详见下表），并可以以书面形式委托 代理人出席会议和参加表决。该代理人不必是公司股东。 | 股份类别 | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | | Ａ股 | 600547 | 山东黄金 | 2025/9/15 | （二）公司董事和高级管理人员。 （三）公司聘请的律师。 证券代码：600547 证券简称：山东黄金 公告编号：临 2025-057 山东黄金矿业股份有限公司 关于召开2025年第四次临时股东会的通知 本公 ...

Core Viewpoint - The article discusses the recent surge in gold prices and the corresponding increase in financing activities by gold mining companies, particularly focusing on Shandong Gold's new share placement to raise funds for debt repayment and capital structure optimization [3][4]. Financing Activities - Shandong Gold plans to issue up to 136.5 million H-shares at a price of HKD 28.58 per share, aiming to raise approximately USD 500 million (around HKD 3.901 billion) [3][4]. - The financing is intended to optimize the capital structure and repay debts, reflecting a trend among gold mining companies to capitalize on high gold prices for fundraising [4][8]. - Other companies like Zijin Mining and Chifeng Jilong Gold Mining have also engaged in similar financing activities, indicating a broader trend in the industry [7][8]. Gold Price Trends - As of September 2, 2025, spot gold prices reached a new high of USD 3,508.69 per ounce, contributing to the positive sentiment in the gold mining sector [4][5]. - Analysts predict that gold prices may continue to rise, potentially reaching USD 3,650 per ounce by the end of the year, which would support gold mining stocks [8]. Company Performance - In the first half of 2025, Shandong Gold reported a gold production of 24.71 tons and a revenue of CNY 56.766 billion, marking a year-on-year increase of 24.01% [4]. - The company's net profit reached CNY 2.808 billion, a significant increase of 102.98% compared to the previous year, indicating strong operational performance amid rising gold prices [4]. Market Sentiment - The market reaction to Shandong Gold's financing announcement was relatively stable, suggesting continued investor confidence in the gold sector despite potential short-term pressures from increased share supply [5][8]. - The overall sentiment in the gold mining sector remains positive, driven by strong gold prices and favorable financial performance, although investors are advised to manage risks associated with potential price corrections [8].

Core Insights - Gold prices have reached a new all-time high, surpassing $3,500 per ounce, which has led to a significant increase in pre-market trading for gold stocks in the U.S. [1] - Silver prices have also surged, reaching $40.86 per ounce, marking a fourteen-year high [1] - Concerns regarding the overall strength of U.S. institutions, in addition to the Federal Reserve's actions, are driving increased demand for gold as a safe-haven asset [1] Company Performance - Harmony Gold (HIMY) saw a pre-market increase of over 7%, with a latest price of $13.280 and a daily increase of 5.31% [1] - Coeur Mining (CDE) experienced a pre-market rise of 4.5%, with a latest price of $13.150 and a daily increase of 4.70% [1] - New Gold (NGD) and DRDGOLD both rose over 3% in pre-market trading, with New Gold's latest price at $5.900 and a daily increase of 3.87% [1] - Other notable performers include Galiano Gold (GAU) with a pre-market increase of 3.69% and Equinox Gold (EQX) with a 3.20% rise [1]

Core Viewpoint - Shandong Gold plans to raise approximately HKD 39.01 billion (USD 5 billion) through the placement of up to 136.5 million H-shares at a price of HKD 28.58 per share, amid rising gold prices driving mining companies to seek financing opportunities [1][2]. Group 1: Financing Details - The placement price represents a nearly 9% discount compared to the previous closing price of HKD 31.4 [2]. - The net proceeds from the fundraising will be used to repay debts, optimizing the company's capital structure [2]. - Shandong Gold's production figures for the first half of 2025 include 24.71 tons of gold mined and 23.6 tons sold, with a revenue of CNY 567.66 billion, reflecting a year-on-year increase of 24.01% [2]. Group 2: Market Context - The price of gold reached a new high of USD 3,508.69 per ounce on September 2, 2023, contributing to a bullish sentiment in the gold mining sector [2][5]. - Other gold mining companies, such as Zijin Mining and Chifeng Jilong Gold Mining, have also engaged in financing activities, indicating a trend of capital raising in the industry [4]. - Analysts predict that gold prices may continue to rise, potentially reaching USD 3,650 per ounce by the end of the year, which would support gold mining stocks [5]. Group 3: Stock Performance - As of September 2, Shandong Gold's A-shares closed at CNY 35.91, a slight decrease of 0.08%, while its H-shares closed at HKD 30.88, down 1.66% [3]. - The stock price fluctuations following the financing announcement were minimal, suggesting a positive market outlook for gold prices [6].

Group 1 - Gold prices surged by 4.78% in August, marking the best monthly performance since April, attracting global investor attention [1] - On September 2, spot gold prices broke through $3,500 per ounce, reaching a high of $3,508.69 per ounce, while COMEX gold hit $3,578.4 per ounce [1] - Domestic gold mining companies reported significant growth in performance, with several companies doubling their earnings in the first half of the year [3][4] Group 2 - Five large gold mining companies reported net profit growth rates between 48% and 67%, while another five companies saw growth rates exceeding 100%, driven by rising gold prices and increased production [4] - Shandong Gold's half-year report showed a revenue of 56.766 billion yuan, a year-on-year increase of 24.01%, and a net profit of 2.808 billion yuan, up 102.98% year-on-year [4] - Other listed gold mining companies, such as Zhongjin Gold and Hunan Gold, also reported year-on-year growth in revenue and profits, attributing this to rising gold prices and a shift in consumer preferences for gold jewelry [5] Group 3 - Analysts predict that the Federal Reserve is likely to restart interest rate cuts in September, which could benefit gold prices [7] - The recent surge in precious metals is driven by macroeconomic and policy factors, including cooling U.S. employment data and dovish comments from Federal Reserve officials [8] - Concerns over U.S. trade policies and geopolitical complexities are expected to provide additional support for precious metals as safe-haven assets [8]

Core Viewpoint - Shandong Gold (600547)(01787) aims to enhance its international capital market presence and optimize its capital structure through a share placement, targeting a total of 136.5 million shares at a price of HKD 28.58 per share, representing an approximate discount of 8.98% from the closing price on September 1, 2025 [1] Group 1 - The company has entered into a placement agreement with placement agents to issue up to 136.5 million shares [1] - The expected net proceeds from the placement are approximately HKD 3.8924 billion, which will be used to repay company debts [1] - The placement is part of the company's strategy to promote healthier, sustainable, and high-quality development, aiming to build a globally competitive world-class gold mining enterprise [1]

待完成后且假设所有配售股份均获成功配售，预计配售事项所得款项总额及所得款项净额将分别约为 39.01亿港元及38.92亿港元。按此基准，每股配售股份的净配售价将约为28.52港元。配售事项所得款项 净额将用于偿还公司债务。 格隆汇9月2日丨山东黄金(01787.HK)发布公告，为深入推动公司在资本市场的国际化布局，更进一步提 高公司的资本实力、优化资本结构，促进企业更加健康、可持续、高品质发展，助力打造具有全球竞争 力的世界一流黄金矿业企业。2025年9月2日(联交所交易时段前)，公司与配售代理(即中金公司与中信证 券)订立配售协议，据此，配售代理已有条件及个别而非共同亦非连带同意作为公司配售代理尽最大努 力促使不少于六名承配人(连同彼等各自的最终实益拥有人(如适用)将为独立第三方)认购最多1.365亿股 配售股份，配售价为每股配售股份28.58港元。 配售事项项下的配售股份相当于(i)本公告日期现有已发行H股数目的约15.89%及现有已发行股份数目的 约3.05%，及(ii)经配发及发行配售股份扩大后已发行H股数目的约13.71%及已发行股份数目的约 2.96%。每股配售股份的配售价28.58港元9月1日( ...

格隆汇9月2日丨根据联交所最新权益披露资料显示，2025年8月26日，山东黄金(01787.HK)获BlackRock, Inc.在场内以每股均价28.92港元增持好仓53.93万 股，涉资约1559.51万港元。 增持后，BlackRock, Inc.最新持好仓数目为5196.464万股，持好仓比例由5.99%上升至6.05%。 | 帳格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | 持有權益的股份數目 佔已發行的 有關事件的日期相 | | | --- | --- | --- | --- | --- | --- | | | 股份數目 | 原因 | | (請參閱上述*註 | 有投票權股(日 / 月 / 年) 權 | | | | | | | 份自分比 | | | | | | | 0/0 | | CS20250829E00514 | HKD 28.9200 BlackRock, Inc. | 1101(L) | 539,250(L | 51.964.640(L) | 6.05(L)26/08/2025 | | | | | | 6.635.500(S) | 0. ...