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SHANDONG GOLD MINING CO., LTD. 山東黃金礦業股份有限公司 (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 1787)

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SHANDONG GOLD MINING CO., LTD. 山東黃金礦業股份有限公司 (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 1787) Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. SHANDONG GOLD MINING CO., LTD. 山東黃金礦業股份有限公司 (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1787) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2019 Reference is made to the announcement of the Company dated 27 March 2020 in relation to the unaudited annual results of the Group for the year ended 31 December 2019 (the “Unaudited 2019 Results Announcement”). Save as disclosed in the paragraph headed “Adjustments to the 2019 Result Announcement” in this announcement, there had been no adjustment to the Unaudited 2019 Result Announcement. ANNUAL RESULTS HIGHLIGHTS OF 2019 • Revenue increased to approximately RMB62,613.1 million, representing an increase of approximately 11.3% as compared to the corresponding period of last year; • Gross profit was approximately RMB5,011.3 million, representing an increase of approximately 24.1% as compared to the corresponding period of last year; • Profit attributable to owners of the Company amounted to approximately RMB1,290.5 million, representing an increase of approximately 33.8% compared to the corresponding period of last year; • Basic earnings per share of the Company was RMB0.42, representing an increase of approximately 20.0% as compared to the corresponding period of last year. • The Board proposed the payment of a final dividend of RMB1 per ten (10) Shares (tax inclusive) for the year ended 2019 and the issue of four (4) bonus Shares for every ten (10) Shares to all Shareholders by way of conversion of capital reserve. – 1 – The Board of Directors of Shandong Gold Mining Co., Ltd. (the “Company”) is pleased to announce the consolidated annual results of the Company and its subsidiaries (collectively referred to as the “Group”) for the year ended 31 December 2019, which is an extract of the audited consolidated financial statements of the Group. CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEMBER 2019 For the year ended 31 December 2019 2018 Notes RMB’000 RMB’000 (restated) Revenue 3 62,613,141 56,250,494 Cost of sales (57,601,794) (52,213,915) Gross profit 5,011,347 4,036,579 Selling expenses (188,120) (126,995) General and administrative expenses (1,768,667) (1,445,860) Research and development expenses (333,050) (321,041) Other income 37,704 14,398 Other gains and losses, net 107,585 253,554 Finance income 71,466 67,646 Finance costs (866,894) (936,319) Share of results of associates 1,319 38,066 Profit before tax 2,072,690 1,580,028 Income tax expenses 5 (660,376) (559,231) Profit for the year 1,412,314 1,020,797 Profit for the year attributable to: – Owners of the Company 1,290,503 964,411 – Non-controlling interests 121,811 56,386 1,412,314 1,020,797 (restated) Earnings per share – Basic and diluted (RMB) 6 0.42 0.35 – 2 – CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2019 For the year ended 31 December 2019 2018 RMB’000 RMB’000 (restated) Profit for the year 1,412,314 1,020,797 Other comprehensive income/(losses): Items that may be reclassified to profit or loss Share of other comprehensive losses of associates – (49) Currency translation differences 69,593 (23,094) Other comprehensive income/(losses) for the year, net of tax 69,593 (23,143) Total comprehensive income for the year 1,481,907 997,654 Total comprehensive income attributable to: – Owners of the Company 1,360,096 941,268 – Non-controlling interests 121,811 56,386 1,481,907 997,654 – 3 – CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2019 As at As at As at 31 December 31 December 1 January 2019 2018 2018 Note RMB’000 RMB’000 RMB’000 (restated) (restated) Non-current assets Property, plant and equipment 26,029,464 23,507,222 21,547,384 Investment properties 231,459 243,997 255,155 Land use right – 340,242 339,824 Right-of-use assets 503,550 –– Intangible assets 12,581,306 12,238,471 12,020,049 Goodwill 1,327,478 1,310,082 1,259,430 Investments in associates 1,042,259 1,040,940 402,923 Financial assets at fair value through other comprehensive income 2,000 2,000 2,015 Financial assets at fair value through profit or loss 5,688,098 5,844,520 3,625,013 Inventories 385,483 269,223 143,896 Deferred income tax assets 130,000 180,925 178,955 Restricted bank deposits – – 520,198 Other non-current assets 565,816 538,572 841,902 48,486,913 45,516,194 41,136,744 Current assets Inventories 3,639,787 3,385,382 3,029,179 Trade and other receivables 7 1,916,843 2,191,591 3,848,696 Prepaid income tax 14,125 47,274 65,779 Financial assets at fair value through other comprehensive income – – 19,066 Financial assets at fair value through profit or loss 1,528,785 421,199 787,001 Financial assets purchased under resale agreements – 158,922 160,328 Restricted bank deposits 243,232 204,335 152,444 Bank balances and cash 3,019,041 2,635,580 2,971,324 10,361,813 9,044,283 11,033,817 – 4 – CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued) AS AT 31 DECEMBER 2019 As at As at As at 31 December 31 December 1 January 2019 2018 2018 Notes RMB’000 RMB’000 RMB’000 (restated) (restated) Current liabilities Trade and other payables 8 5,447,967 6,173,444 4,612,009 Lease liabilities 42,043 –– Current income tax liabilities 239,667 258,555 180,753 Borrowings 5,964,287 3,685,352 2,883,107 Financial liabilities at fair value through profit or loss 13,145,643 10,834,009 11,983,080 Current portion of other non-current liabilities 65,911 11,913 12,992 24,905,518 20,963,273 19,671,941 Net current liabilities (14,543,705) (11,918,990) (8,638,124) Total assets less current liabilities 33,943,208 33,597,204 32,498,620 Non-current liabilities Borrowings 2,199,267 2,746,822 8,091,819 Lease liabilities 65,940 –– Deferred income tax liabilities 4,262,779 4,322,685 4,281,031 Deferred revenue 12,444 12,186 17,526 Provision for asset retirement obligations 909,958 779,061 570,586 Other non-current liabilities 424,495 62,013 70,443 7,874,883 7,922,767 13,031,405 Net assets 26,068,325 25,674,437 19,467,215 Capital and reserves Share capital 9 3,099,612 2,214,008 1,857,119 Treasury shares (6,385) (6,385) (6,385) Reserves 20,114,685 21,522,969 16,570,279 23,207,912 23,730,592 18,421,013 Non-controlling interests 2,860,413 1,943,845 1,046,202 Total equity 26,068,325 25,674,437 19,467,215 – 5 – NOTES 1 GENERAL INFORMATION The Company was established in the People’s Republic of China (“PRC” or “China”) on 31 January 2000 as a joint stock company with limited liability under the Company Law of the PRC. The A shares of the Company have been listed on the Shanghai Stock Exchange since 28 August 2003. On 28 September 2018, the Company completed the global offering of its H shares on the Main Board of The Stock Exchange of Hong Kong Limited and 327,730,000 H shares were issued. On 26 October 2018, an additional 29,159,500 H shares were issued upon the exercise of the over-allotment options by the international underwriters of the global offering. All newly issued H shares were issued with net proceeds from the abovementioned issuance of its new H shares of approximately RMB4,409,465,000, after netting off underwriting commissions and other capitalised listing expenses. In the opinion of the directors of the Company, the immediate holding company and the ultimate controlling party of the Company are Shandong Gold Group Co., Ltd. (山東黃金集團有限公司) (“Shandong Gold Group”)and State-owned Assets Supervision and Administration Commission of Shandong Provincial People’s Government (山東省人民政府國有資產監督委員會), respectively. The Company and its subsidiaries are hereinafter collectively referred to as the “Group”. The Group is principally engaged in mining and processing of gold, sale of gold products and manufacturing and sale of building decoration materials. Subsequent to the acquisition of SDG Capital Management Group as explained in note 2.1.2 below, the Group is also engaged in the business of investments in equity funds, trading of gold bullion and provision of futures contracts trading services. The address of the Company’s registered office is Building No. 3, Shuntai Square, No. 2000 Shunhua Road, Jinan, Shandong Province, the PRC. The consolidated financial statements of the Group are presented in Renminbi (“RMB”), the functional currency of the Company unless otherwise stated. 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (the “IASB”). In addition, the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and by the Hong Kong Companies Ordinance.
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