Group 1 - The core announcement is that Mr. He Yili will retire from Swire Group and resign as Executive Director, effective May 13, 2026 [1] - Mr. He will also step down as Executive Director and Chairman of Cathay Pacific Airways Limited after the conclusion of the 2026 Annual General Meeting on May 13, 2026 [1] - Additionally, he will resign from his positions as Director and Chairman of Swire Coca-Cola Limited and Hong Kong Swire Group Limited, effective on the same date [1] Group 2 - Mr. Whiteley will succeed Mr. He as Chairman of Cathay Pacific and Swire Coca-Cola Limited on the same date [1]

Group 1 - Cathay Pacific Group announced that Augustus Tang will step down as Chairman of the Board on May 13, 2026, and retire from Swire Group on May 31, 2026, concluding over 30 years of his career [1] - The board has appointed Rupert Hogg as the new Chairman of Cathay Pacific Group, effective from May 13, 2026 [1] - Rupert Hogg, currently the Chairman of Swire Properties and a director of Cathay Pacific Airways, aims to work closely with the leadership team to enhance the overall performance of Cathay Pacific Group and support Hong Kong's position as a leading international aviation hub [1] Group 2 - Augustus Tang expressed his honor in serving as Chairman of Cathay Pacific Group for the past six years and thanked customers for their continued support [1] - Rupert Hogg has held significant positions in major markets including mainland China, Hong Kong, the United States, Japan, and the Middle East since joining Swire Group in 1987 [1] - Hogg will continue to serve as Chairman of Swire Properties, Swire Group, and Hong Kong Aircraft Engineering Company alongside his new role at Cathay Pacific Group [1]

太古股份有限公司（「公司」）董事局（「董事局」）宣佈，賀以禮先生因退 休離開太古集團，已辭任公司常務董事，自二零二六年五月十三日起生效。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全 部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SWIRE PACIFIC LIMITED 太古股份有限公司 (於香港註冊成立的有限公司) (股份代號：00019 及 00087) 董事局變動 於本公告所載日期，公司的在任董事如下： 常務董事： 白德利（主席）、岑明彥、賀以禮、馬天偉； 非常務董事： 麥廣能、施銘倫；及 獨立非常務董事： 包逸秋、顏文玲、歐高敦、徐瑩及張懌。 承董事局命 SWIRE PACIFIC LIMITED 太古股份有限公司 公司秘書 麥潔貞 - 1 - 賀以禮先生亦將退任國泰航空有限公司（「國泰航空」）常務董事及主席，自 國泰航空於二零二六年五月十三日舉行的二零二六年股東周年大會結束時起生 效。此外，他將退任太古可口可樂有限公司董事及主席，以及香港太古集團有 限公司董事，自二零二六年五月十三 ...

Core Viewpoint - Swire Coca-Cola expresses strong confidence in the future development of Hainan Free Trade Port, marking a significant investment in a new production base as a response to China's high-level opening-up and participation in the construction of the free trade port [1][2] Group 1: Investment and Development - Swire Coca-Cola's new green intelligent production base in Haikou, with an investment of 300 million yuan, is set to commence operations by the end of 2027, reflecting the company's commitment to long-term growth in the region [1] - The construction of the new base is a strategic move to leverage the favorable policies and tax incentives provided by the Hainan Free Trade Port, which aims to enhance local production and technological upgrades [2][3] Group 2: Policy and Economic Environment - Hainan's preparations for full island closure include the successful verification of ten "second-line ports" and the launch of a smart customs supervision platform, which collectively have resulted in over 3 billion yuan in tax reductions for businesses [3] - The implementation of a management model that allows for "first-line liberalization, second-line control, and island-wide freedom" will significantly expand the range of zero-tariff goods to 74% of all tax categories, facilitating smoother logistics and broader market opportunities for enterprises [3] Group 3: Green and Intelligent Manufacturing - The new production base will adhere to green low-carbon principles, integrating rooftop photovoltaic power generation and industrial waste heat recovery, while aiming for LEED Gold certification and China's two-star green building design standard [4] - Swire Coca-Cola's digital strategy aims to incorporate new productive forces into every aspect of beverage production, distribution, and sales, aligning with China's goals for high-end, intelligent, and green manufacturing [4] Group 4: Long-term Commitment and Market Strategy - Swire Coca-Cola has been operating in Hainan since its establishment in 1988 and plans to invest over 12 billion yuan in China over the next decade, demonstrating a strong commitment to the Chinese market [5] - The new factory's establishment is designed to meet the anticipated increase in local consumer demand post-closure, reflecting a strategy of localized deepening that aligns with China's new development paradigm [5] Group 5: Broader Implications for Foreign Investment - The construction of the production base signifies a shift in foreign investment strategies from mere production to deeper integration involving technology co-creation, standard building, and value sharing [6] - This transformation not only presents new opportunities for foreign enterprises but also contributes to the advancement of China's modern industrial system through the introduction of international best practices and technologies [6]

Core Viewpoint - The establishment of the Hainan Swire Coca-Cola Green Intelligent Production Base marks a significant investment in sustainable manufacturing, aligning with China's green development policies and the company's long-term commitment to the Chinese market [2][3]. Group 1: Project Overview - The first phase of the Hainan Swire Coca-Cola production base involves an investment of 300 million RMB, with production expected to commence by the end of 2027 [1]. - The new facility will implement a data-driven intelligent production model and integrate rooftop photovoltaic power generation with industrial waste heat recovery [1]. Group 2: Strategic Alignment - The project aligns with China's push for green and intelligent manufacturing, providing replicable solutions in low-carbon management and resource recycling, thus setting an industry benchmark for environmental sustainability [2]. - Swire Coca-Cola's commitment to this project is part of a broader investment plan of over 12 billion RMB in mainland China over the next decade [2]. Group 3: Future Developments - The company's green intelligent strategy is progressing, with new factories in Zhengzhou already operational and others in Jiangsu and Hubei recently achieving "zero carbon factory" certification [3]. - Swire Coca-Cola aims to leverage China's high-level opening-up policies and favorable business environment to further its green transformation and contribute to the modernization of the Chinese economy [3].

Investment Dynamics - L'Oréal plans to increase its stake in Galderma to 20%, becoming a significant strategic shareholder and gaining a board seat for core strategic decision-making [3] - Changyao Innovation successfully completed a new round of A financing amounting to several tens of millions, with strategic investment from leading robotics company Hangzhou Shenhao Technology [5] - UK DTC children's outdoor clothing brand Roarsome raised £1.5 million, with nearly £1 million from lead investor Sustainable Wealth Group, focusing on sustainable materials [7] - Meta acquired wearable AI device company Limitless, shifting part of its metaverse resources towards AI wearable devices [8] - Swire Group reached a share transfer agreement for its bakery chain "New Qinyuan" with Yang Brothers Investment Company, with a total acquisition amount close to HKD 1.4 billion [9] - Anheuser-Busch InBev plans to acquire a majority stake in US ready-to-drink beverage brand BeatBox for approximately $490 million, as part of its strategy to explore markets beyond beer [12] Brand Dynamics - Hema acknowledged a production issue with strawberry cakes, affecting around 60 units sold across seven stores, and has initiated customer follow-ups and compensation [15] - COMME des GARÇONS announced a collaboration with G-DRAGON, featuring a collection inspired by his album "Übermensch," with a black baseball cap as a core item [18] - Burberry appointed Matteo Calonaci as COO and CCO, emphasizing supply chain acceleration and customer experience as key performance drivers [19][21] - Kering's Brioni brand ended its collaboration with creative director Norbert Stumpfl, potentially slowing down the introduction of new men's collections [23]

Core Viewpoint - The article discusses the potential sale of the Rosewood Hotels by New World Development Group, highlighting the challenges faced by the Hong Kong hotel industry and the financial struggles of the parent company, which has led to drastic measures such as asset sales [4][18][28]. Group 1 - New World Development Group, backed by the Cheng family, is considering selling parts of its 58 Rosewood Hotels, including the highly valued Hong Kong Rosewood, which is estimated at HKD 15.9 billion [4][18]. - The hotel industry in Hong Kong is undergoing a severe crisis, with New World Development being one of the most affected companies, facing significant debt and operational challenges [18][20]. - The company's stock price has plummeted by 87% compared to its peak in 2019, indicating a drastic decline in market confidence [24]. Group 2 - The article contrasts New World Development's aggressive expansion strategy with that of Swire Properties, which has opted for a more cautious approach, including layoffs and property closures [30][35]. - The underlying business logic supporting the prosperity of Hong Kong's hotel industry has shifted, with high-interest rates making hotel operations less financially viable compared to alternative investments [38][39]. - The reduction in spending by high-end customers, including mainland Chinese tourists and corporate executives, has further exacerbated the challenges faced by luxury hotels in Hong Kong [44][46]. Group 3 - The operational costs of maintaining luxury hotels in Hong Kong are among the highest globally, while competition from neighboring cities like Shenzhen offers similar experiences at significantly lower prices [49]. - The article suggests that the era of luxury hotel brands being willing to operate at a loss for asset appreciation is coming to an end, as financial prudence takes precedence [50][55]. - The shift in market dynamics is exemplified by Li Ka-shing's decision to sell properties at steep discounts, indicating a broader trend of reevaluating asset values in the current economic climate [51][54].

Core Viewpoint - The Hong Kong-based Zheng family, behind New World Development Group, is considering selling part of its 58 Rosewood Hotels assets, including the highly valued Rosewood Hong Kong, which recently won the title of the world's best hotel, valued at HKD 15.9 billion [1][3]. Group 1: Company Background and History - The Rosewood brand was acquired by New World Group for USD 229 million, with a strategic decision to move its global headquarters from Texas to Hong Kong, aiming to create a top luxury hotel brand for the Chinese market [3][4]. - The first Rosewood hotel in Asia opened in Beijing, with significant investment in the renovation of the original property, reducing room count from over 400 to just over 200 to enhance luxury and space [5][6][7]. Group 2: Current Challenges and Market Conditions - The Hong Kong hotel industry is undergoing a severe downturn, with New World Development facing significant financial distress, reporting its first loss in 20 years due to rising debt levels and a challenging economic environment [11][12][13]. - New World Development's net debt has surged to 98% of shareholder equity, leading to a record HKD 88.2 billion refinancing agreement and subsequent proposals for bondholders to accept substantial principal write-downs [13][14]. Group 3: Industry Trends and Competitive Landscape - The high-interest rate environment has shifted the financial logic for holding luxury hotels, making it less viable to operate them at a loss compared to investing in safer assets like U.S. Treasury bonds [21][22]. - The decline in high-spending mainland Chinese tourists and reduced corporate travel budgets have further strained the luxury hotel market in Hong Kong, with competitors in Shenzhen offering similar experiences at significantly lower prices [25][26]. Group 4: Future Outlook - The era of emotional investment in luxury hotel brands is fading, as financial performance becomes the primary focus for stakeholders in the industry [28][29].

Core Viewpoint - Swire Group (00019.HK/00087.HK) announced that it will hold a board meeting on March 12, 2026, to declare its annual results for the year ending December 31, 2025, and to consider the distribution of the second interim dividend for 2025, replacing the final dividend [1] Group 1 - The board meeting is scheduled for March 12, 2026, at 9:30 AM at the company's registered office [1] - The meeting will focus on announcing the full-year results for the fiscal year ending December 31, 2025 [1] - The company will also consider the distribution of the second interim dividend for 2025, which will replace the final dividend [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 香港，二零二五年十二月三日 - 1 - 董事局會議召開日期 茲通告太古股份有限公司（「公司」）將於二零二六年三月十二日（星期四） 上午九時三十分在公司註冊辦事處舉行董事局會議，藉以（其中包括）宣佈截 至二零二五年十二月三十一日止年度的全年業績及考慮派發二零二五年第二次 中期股息（以取代末期股息）。 根據《香港聯合交易所有限公司證券上市規則》附錄 C3 第 A.3 項的規定，公 司董事於二零二六年一月十一日至二零二六年三月十二日（包括首尾兩天）期 間不得買賣公司證券。 於本公告所載日期，公司的在任董事如下： | 常務董事 | ： | 白德利（主席）、岑明彥、賀以禮、馬天偉； | | --- | --- | --- | | 非常務董事 | ： | 麥廣能、施銘倫；及 | | 獨立非常務董事 | ： | 包逸秋、顏文玲、歐高敦、徐瑩及張懌。 | 承董事局命 SWIRE PACIFIC LIMITED 太古股份 ...