The board of directors of Shandong Gold Mining Co., Ltd. informed the shareholders and potential investors of the Company that, based on the preliminary review and assessment of the unaudited consolidated management accounts of the Group for the year ended 31 December 2020 prepared pursuant to China Accounting Standards for Business Enterprises, it is expected that the Group will record a growth in its profit attributable to the shareholders of the Company (between RMB 2.0 billion to RMB 2.65 billion) of 55% to 105% as compared with that of approximately RMB 1.289 billion for the year ended 31 December 2019. Such increase was mainly attributable to the significant increase in the global gold price since 2020 under the demand for hedging resulting from factors including the economic downturn of the world's major economies and global monetary easing. In such circumstances, the Company seized the opportunities of rising gold price and organised gold sales at appropriate times. During the 2020 Year, the gross profit generated from the sales of the Company's self-produced gold increased significantly and achieved a greater year-on-year growth in profit.