Shandong Gold Plans RMB 300-400 Million A-Share Buyback for Cancellation

A cancellation buyback is the more shareholder-friendly variant, since it shrinks registered capital rather than parking shares in treasury for later resale or incentive grants. For a gold miner, deploying own and self-raised funds this way signals balance-sheet confidence, though the RMB 48.57 ceiling effectively frames management's view of fair value. The open questions are shareholder approval, which requires a special resolution, and execution pace within the 12-month window.