Zhitong Finance App News, Shandong Gold (01787) announced that on October 16, 2026, the board of directors approved Mining Hong Kong, a wholly-owned subsidiary of the company, and Yacheng Company, a wholly-owned subsidiary of Gold Group Corporation, the controlling shareholder of the company, to jointly fund the establishment of a Hong Kong treasury company. The Hong Kong Treasury is a company to be newly established in Hong Kong. It is mainly engaged in the centralized operation and management of overseas capital.
According to the investment agreement, the total share subscription capital is RMB 1 billion (or equivalent currency), with each party investing in instalments in monetary form, of which: (i) Yacheng Company subscribes for RMB 600 million (or equivalent currency), with a shareholding ratio of 60%; and (ii) Mining Hong Kong subscribes for RMB 400 million (or equivalent currency), with a shareholding ratio of 40%. Once established, the Hong Kong Treasury will not become a subsidiary of the company, and its financial results will not be comprehensively recorded in the Group's consolidated financial statements.
According to the announcement, the establishment of the Hong Kong Treasury Company is an investment decision based on the company's long-term strategic plan and business development needs, which will help further strengthen the centralized management of the company's overseas capital and establish an integrated fund management system. The establishment of a Hong Kong treasury company is conducive to reducing the company's overseas financing costs and exchange rate risk hedging costs, improving global capital allocation efficiency and risk prevention and control capabilities, and meeting the company's sustainable and healthy development needs.
The Hong Kong Treasury is a cost-optimized fund management platform. It does not engage in external business. Its operating benefits are mainly reflected in saving the company's financial expenses and reducing risk exposure. This foreign investment is funded with its own capital. It does not involve the company's external financing, will not adversely affect the company's ability to operate continuously and its financial situation, and will not harm the interests of the company or all shareholders.