Shandong Gold Mining (01787) proposes to adjust its 2026 production and operation plan to "gold output of 36 tonnes to 38 tonnes"

Shandong Gold Mining (01787) has announced that since the business plan was formulated at the beginning of the year, changes have occurred in the Company's external operating environment. At the same time, in light of the progress of the Company's project construction, the gold output target in the original production and operation plan is expected to be significantly affected. The main influencing factors include: 1. In the first half of 2026, due to safety accidents at other companies in the same industry, the Company's domestic mines carried out safety self-inspections as required, resulting in a year-on-year decline in the Company's gold output in the first half of the year; 2. In the face of escalating safety regulation in the industry, and in light of the Company's production and operation conditions, since the second half of 2026 the Company has carried out work to improve safety standard management, strengthened safety standardization, coordinated infrastructure construction and production, and comprehensively increased infrastructure construction at domestic mines, especially vigorously advancing the construction of resource integration projects in the Yantai region, including the Jiaojia Gold Mine, Xincheng Gold Mine, Sanshandao Gold Mine, Linglong Gold Mine, and Penglai Mining. Project construction has affected mining operations, reducing the number of production working faces during the period, and has therefore had a certain impact on the Company's 2026 gold output and the completion of its full-year production and operation targets. Based on the above factors, the Company's 2026 production and operation plan is proposed to be adjusted from the original "gold output of no less than 49 tonnes" to "gold output of 36 tonnes to 38 tonnes." The Company's mineral gold output in 2025 was 48.89 tonnes. Mineral gold output in 2026 is expected to decrease by approximately 11-13 tonnes year on year. The decline in output is expected to have a certain impact on the Company's operating revenue, total profit, net profit attributable to shareholders of the listed company, and other major accounting data in 2026. The Company's net profit attributable to shareholders of the listed company in 2026 is expected to decline year on year. The specific impact shall be subject to the audited annual financial report. The Company will tap the potential of overseas mines to offset part of the impact of reduced production at domestic mines, advance cost reduction and expense control and reform measures through multiple approaches, and consolidate the fundamentals of its business operations. At the same time, it will further coordinate infrastructure construction and production arrangements and increase project construction efforts. This is a necessary measure to enhance the Company's intrinsic safety level and strengthen its momentum for sustainable development. The Company will optimize resource allocation, scientifically organize project construction, and accelerate project construction on the premise of building a solid safety management defense line. In the coming years, as projects are completed and put into operation one after another and the synergistic effects of resource integration gradually emerge, the Company's gold output will achieve steady growth, operating efficiency will continue to improve, and the Company's shareholders will obtain more stable and long-term value returns.