Shandong Gold Group's stake in mining unit declines slightly

Shandong Gold Mining Co., Ltd. announced that its controlling shareholder, Shandong Gold Group Co., Ltd., saw its combined equity in the company decrease from 44.02% to 43.99%. This change occurred on September 9, 2025.

The decrease in ownership is attributed to the conversion of its non-publicly issued exchangeable corporate bonds (23 SD Gold EB) into shares. The bonds, with a total issuance amount of up to 2 billion yuan, were issued on April 19, 2023, and entered their share conversion period from October 19, 2023, until April 17, 2026. This passive reduction in shareholding will not change the company's controlling shareholder or actual controller.

The company emphasized that the exact number of shares converted and the timing remain uncertain due to the discretionary nature of bondholders' conversion choices. Shandong Gold Mining will monitor the situation and fulfill its disclosure obligations, advising investors to be aware of potential investment risks.