Shandong Gold (01787) announced that on October 16, 2026, the board of directors approved a joint investment by its wholly-owned subsidiary Mining Hong Kong and Yacheng Company, a wholly-owned subsidiary of the company's controlling shareholder Gold Group Company, to establish a Hong Kong treasury company. The Hong Kong treasury company is a newly proposed company to be established in Hong Kong, primarily engaged in the centralized operational management of overseas funds. According to the investment agreement, the total share subscription capital contribution is RMB 1 billion (or equivalent currency), to be contributed by each party in monetary form in installments, of which: (i) Yacheng Company subscribes RMB 600 million (or equivalent currency), representing a 60% shareholding ratio; and (ii) Mining Hong Kong subscribes RMB 400 million (or equivalent currency), representing a 40% shareholding ratio. After its establishment, the Hong Kong treasury company will not become a subsidiary of the company, and its financial results will not be consolidated into the group's consolidated financial statements.

The announcement stated that the establishment of the Hong Kong treasury company is an investment decision made based on the company's long-term strategic planning and operational development needs, which will help further strengthen the centralized management of the company's overseas funds and build an integrated fund management system. The establishment of the Hong Kong treasury company is conducive to reducing the company's overseas financing costs and exchange rate risk hedging costs, enhancing global fund allocation efficiency and risk prevention and control capabilities, and is in line with the company's needs for sustainable and healthy development. The Hong Kong treasury company is a cost-optimization-oriented fund management platform that does not engage in external operational business. Its operational benefits are mainly reflected in the savings of the company's financial expenses and the compression of risk exposures. This outbound investment is funded by self-owned funds and does not involve external financing by the company. It will not have an adverse impact on the company's going concern capability and financial condition, and there is no circumstance that harms the interests of the company and all shareholders.