SD GOLD (01787.HK): Cuts 2026 Gold Output Guidance to 36-38 Tonnes
- The Board approved the adjustment at the 20th meeting of its seventh session on 24 September 2026 with 8 votes in favour, changing the 2026 plan from "gold output of no less than 49 tonnes" (approved on 26 March 2026) to "gold output of 36 to 38 tonnes".
- The change follows safety self-inspections at the Company's domestic mines in the first half of 2026 after safety incidents at other industry enterprises, and intensified capital construction at domestic mines including resource integration projects in the Yantai region — Jiaojia, Xincheng, Sanshandao and Linglong gold mines and Penglai Mining — which reduced active working faces.
- Mine-produced gold output was 48.89 tonnes in 2025 and is expected to fall by approximately 11 to 13 tonnes in 2026, which is expected to affect operating revenue, total profit and net profit attributable to shareholders, with the latter expected to decline year-on-year; the adjustment does not constitute a commitment to the adjusted output target.
NewTimeSpace News: On 24 September 2026, Shandong Gold Mining Co., Ltd. (stock code: 01787.HK) published an inside information announcement pursuant to Part XIVA of the Securities and Futures Ordinance and Rules 13.09 and 13.10B of the Listing Rules. The Company convened the 20th meeting of the seventh session of the Board on 24 September 2026 and approved, with 8 votes in favour, none against and none abstaining, the resolution on the adjustment to the Company's production and operation plan for 2026, agreeing to adjust the plan from the original target of "gold output of no less than 49 tonnes" to "gold output of 36 to 38 tonnes".
According to the announcement, the original plan was approved at the 9th meeting of the seventh session of the Board on 26 March 2026. Since the plan was formulated at the beginning of the year, the Company's external operating environment has changed, and taking into account the progress of project construction, the original output target is expected to be materially affected. The principal factors include: in the first half of 2026, following safety incidents at other enterprises in the industry, the Company's domestic mines conducted safety self-inspections as required, resulting in a year-on-year decrease in gold output for the first half; and since the second half of 2026 the Company has carried out initiatives to enhance standardized safety management, strengthened safety standardization, coordinated capital construction and production, and comprehensively intensified capital construction at its domestic mines, in particular vigorously advancing the construction of resource integration projects in the Yantai region including Jiaojia Gold Mine, Xincheng Gold Mine, Sanshandao Gold Mine, Linglong Gold Mine and Penglai Mining. Project construction has affected mining operations and reduced the number of active working faces, thereby having a certain impact on the Company's gold output for 2026 and the fulfilment of its annual targets.
The Company said its mine-produced gold output amounted to 48.89 tonnes in 2025, and mine-produced gold output in 2026 is expected to decrease by approximately 11 to 13 tonnes year-on-year. The decline is expected to have a certain impact on the Company's principal accounting figures for 2026, including operating revenue, total profit and net profit attributable to shareholders of the listed company, with net profit attributable to shareholders expected to decline year-on-year, subject to the audited annual financial report. The Company will tap the potential of its overseas mines to offset part of the impact of lower domestic output, advance cost control and reform measures, and further coordinate capital construction with production, expecting steady growth in gold output as projects come on stream and resource integration synergies emerge. The Company emphasised that the adjustment is a prudent arrangement based on current production conditions and does not constitute a commitment to the adjusted output target.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
