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Shandong Gold acquired the stake of Yintai Gold for CNY 12.76 billion

On January 19, Shandong gold (600547.SH) announced, in order to further enhance the comprehensive strength of Shandong gold, speed up the implementation to become the international first-class gold mining enterprise strategic objectives, proposed by agreement transfer way of China Yintai investment co., LTD. (hereinafter referred to as "China Yintai"), Guojun Shen total holds Yintai gold (000975.SZ) CNY 581 million common shares, about 20.93% of the total shares, the transfer price is CNY 12.76 billion.


 After the completion of this transaction, Shandong Gold will hold 20.93% of the equity of Yintai Gold and become the controlling shareholder of Yintai Gold. The actual controller of Yintai Gold will be changed to the State-owned Assets Supervision and Administration Commission of Shandong Provincial People's Government. According to the China Gold Association, as of the first half of this year, Yintai gold production ranked fifth among the domestic listed gold companies, and is one of the mining enterprises with higher gross margins among domestic gold mines.