Making his first start since joining trainer David Hayes, having won 18 races for John Moore, Beauty Generation had to concede 17lb to his younger rival.
The Francis Lui-trained Golden Sixty arrived on a winning streak in seven Sha Tin races going back to September 2019, most recently his Derby triumph over 10 furlongs in March.
Ridden by Vincent Ho, he travelled strongly in midfield before finding a telling change of gear in the straight to run down his rivals and win comfortably.
Ho said: "It's very exciting to be back on him. He felt really great and fresh today – and once I got a clear run, I knew he'd run them down.
"He had a good blow, and for sure he needed that. I think he was about 70 or maybe 75 per cent fit, but after this he should go on.
"I think he's one of the best horses in Hong Kong at the moment. The main thing is to keep him healthy – and it's thanks to the team for their hard work, as always."
Beauty Generation was caught in a pocket rounding the home turn, but finished strongly to dead-heat for second with Champion's Way in the seven-furlong Group Three handicap.
Hayes said: "We knew it was always going to be a big ask to give a young champion like Golden Sixty so much weight, but I thought Beauty Generation would have finished a clear second with a better run.
"He's going to be at his very best when the big set-weights races come around in November and December."