Shandong Gold Mining (HKG:1787, SHA:600547) said its controlling shareholder Shandong Gold Group bought 120 million yuan worth of shares as part of a broader commitment, according to a Hong Kong bourse filing Thursday.

Shares of the miner fell 3% in morning trade Friday.

The company's parent had agreed to buy between 500 million yuan and 1 billion yuan worth of A shares within a year from April 9, 2025.

Since then, and as of Oct. 8, the mid-point of the agreement, SD Gold Group had bought 3,652,090 shares through centralized bidding trading, representing approximately 0.0792% of the company's total share capital.

Prior to the purchase, SD Gold Group directly held 1,620,488,871 shares, accounting for 36.2248% of the business, while its affiliates held a further 406,038,111 shares, or 9.0766%.