ETN News, 25th: Shandong Gold (01787) is currently down 2.7%, trading at HK$20.16, with approximately 80,000 shares traded, involving a turnover of HK$1.69 million.
Shandong Gold announced that its production and operation plan for this year has been adjusted from an originally planned minimum gold output of 49 tonnes to a range of 36 to 38 tonnes. Compared to last year's mine-produced gold output of 48.89 tonnes, this year's expected mine-produced gold output is projected to decrease by approximately 11 to 13 tonnes year-on-year, a decline of 22.5% to 26.6%. This is expected to have a certain impact on key financial figures such as operating revenue, total profit, and net profit attributable to shareholders of the listed company. The net profit attributable to shareholders of the listed company is expected to decline year-on-year, with the specific impact subject to the audited annual financial report.
The group stated that since the beginning of the year, external operating conditions have changed. In addition, considering the progress of project construction, the original production and operation plan's gold output target is expected to be significantly affected. This includes a year-on-year decline in gold output during the first half of the year, due to safety inspections conducted across the group's mainland mines following safety incidents at peer companies. Furthermore, in response to enhanced industry safety regulations, the group has been improving its safety management standards since the second half of this year, particularly intensifying construction efforts on resource integration projects in the Yantai region, including the Jiaojia Gold Mine, Xincheng Gold Mine, Sanshandao Gold Mine, Linglong Gold Mine, and Penglai Mining. These construction projects have impacted mining operations, reducing the current operational mining areas, thereby affecting this year's gold output and the achievement of annual production and operation targets.
Currently, the Hang Seng Index stands at 24,523, down 237 points or 1%, with turnover of nearly HK$1.8 billion on the main board. The Hang Seng China Enterprises Index stands at 8,172, down 93 points or 1.1%. The Hang Seng Tech Index stands at 4,318, down 42 points or 1%. (vs)
Shandong Gold announced that its production and operation plan for this year has been adjusted from an originally planned minimum gold output of 49 tonnes to a range of 36 to 38 tonnes. Compared to last year's mine-produced gold output of 48.89 tonnes, this year's expected mine-produced gold output is projected to decrease by approximately 11 to 13 tonnes year-on-year, a decline of 22.5% to 26.6%. This is expected to have a certain impact on key financial figures such as operating revenue, total profit, and net profit attributable to shareholders of the listed company. The net profit attributable to shareholders of the listed company is expected to decline year-on-year, with the specific impact subject to the audited annual financial report.
The group stated that since the beginning of the year, external operating conditions have changed. In addition, considering the progress of project construction, the original production and operation plan's gold output target is expected to be significantly affected. This includes a year-on-year decline in gold output during the first half of the year, due to safety inspections conducted across the group's mainland mines following safety incidents at peer companies. Furthermore, in response to enhanced industry safety regulations, the group has been improving its safety management standards since the second half of this year, particularly intensifying construction efforts on resource integration projects in the Yantai region, including the Jiaojia Gold Mine, Xincheng Gold Mine, Sanshandao Gold Mine, Linglong Gold Mine, and Penglai Mining. These construction projects have impacted mining operations, reducing the current operational mining areas, thereby affecting this year's gold output and the achievement of annual production and operation targets.
Currently, the Hang Seng Index stands at 24,523, down 237 points or 1%, with turnover of nearly HK$1.8 billion on the main board. The Hang Seng China Enterprises Index stands at 8,172, down 93 points or 1.1%. The Hang Seng Tech Index stands at 4,318, down 42 points or 1%. (vs)
