Shandong Gold Mining Co., Ltd. (SHSE:600547) signed a framework agreement to acquire a 20.93% stake in Yintai Gold Co., Ltd. (SZSE:000975) from China Yintai Holdings Co. Ltd. and Shen Guojun for not more than CNY 13 billion on December 9, 2022. Shandong Gold Mining Co., Ltd. entered into the supplemental agreement to acquire a 20.93% stake in Yintai Gold Co., Ltd. from China Yintai Holdings Co. Ltd. and Shen Guojun for CNY 12.8 billion on January 19, 2023. Under the terms, Shandong Gold Mining will acquire 581.18 million shares of Yintai Gold Co. China Yintai Holdings will sell its 14.44% being 401.06 million shares and Shen Guojun will sell 6.49% stake being 180.12 million shares in Yintai Gold Co. at a price of CNY 21.96 per share in cash. China Yintai will receive CNY 8,805.41 million and Shen Guojun will receive 3,954.58 million. Transaction will be financed from self-raised funds and internal funds of the Shandong Gold Mining Co., Ltd. Transaction is subject to approval by State-owned Assets Supervision and Administration Commission of the State Council (SASAC), anti-monopoly enforcement agency, Hong Kong Stock Exchange, Shandong Gold Mining's shareholders and board approval and Shandong Gold pays CNY 2,552 as per second installment. Shandong Gold's session of the board of directors was held on December 9, 2022 and approved the transaction. As of February 3, 2023, the transaction is approved by the State-owned Assets Supervision and Administration Commission of Shandong Province. On March 30, 2023, the Shandong Gold Mining Co., Ltd received the "Decision on No Further Review of Anti-Monopoly Review of Concentration of Operators" issued by the State Administration for Market Regulation (Anti-Examination Decision [2023] No. 192). As of June 30, 2023, the transaction is approved by shareholders of Shandong Gold Mining Co., Ltd.

Shandong Gold Mining Co., Ltd. (SHSE:600547) completed the acquisition of 20.93% stake in Yintai Gold Co., Ltd. (SZSE:000975) from China Yintai Holdings Co. Ltd. and Shen Guojun on July 20, 2023.