Shandong Gold Mining Co., Ltd. (01787) has announced that since the beginning of the year when the production and operation plan was formulated, changes in the company's external operating environment, combined with the progress of project construction, are expected to significantly impact the gold output target of the original plan.
The main influencing factors include the following: First, in the first half of 2026, due to safety accidents at other companies in the same industry, the company's domestic mines conducted safety self-inspections in accordance with requirements, which led to a year-on-year decline in gold output in the first half of the year. Second, in response to the upgrading of industry safety regulations and in light of the company's production and operation situation, the company has since the second half of 2026 carried out safety standardization management improvement work, strengthened safety standardization construction, coordinated infrastructure and production, and comprehensively increased infrastructure construction efforts 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 active production faces during the period, which has 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, and the estimated mineral gold output for 2026 is expected to decrease by approximately 11 to 13 tonnes year-on-year. The decline in output is expected to have a certain impact on the company's 2026 operating revenue, total profit, net profit attributable to shareholders of the listed company, and other major accounting data. The company's net profit attributable to shareholders of the listed company for 2026 is expected to decline year-on-year, with the specific impact 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 as well as reform measures through multiple approaches, and consolidate the fundamentals of business operations. At the same time, the company will further coordinate infrastructure and production arrangements and increase project construction efforts, which are necessary measures to enhance the company's intrinsic safety level and strengthen its capacity for sustainable development.
The company will optimize resource allocation and scientifically organize engineering construction to accelerate project construction while firmly building safety management defenses. 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 shareholders will receive more stable and long-term value returns.
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