华宝国际(00336)发布公告，本公司的执行董事、副主席兼总裁夏利群先生将不再担任香港联合交易所 有限公司证券上市规则第3.05条项下本公司的其中一位授权代表(授权代表)，自2025年8月29日起生效。 董事会进一步宣布，执行董事蔡文霞女士已获委任为授权代表，并即时生效。 ...

Group 1 - The core point of the article is the announcement regarding the change in authorized representatives of Huabao International [1] - The current executive director, vice chairman, and president, Mr. Xia Liqun, will no longer serve as one of the authorized representatives under the Hong Kong Stock Exchange Listing Rules, effective from August 29, 2025 [1] - Ms. Cai Wenxia has been appointed as the new authorized representative, effective immediately [1]

董事會進一步宣佈，執行董事蔡文霞女士已獲委任為授權代表，並即時生效。授權代表是 香港聯合交易所有限公司與本公司之間就一般上市事宜進行溝通的主要渠道。 承董事會命 華寶國際控股有限公司 執行董事 潘昭國 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，並明確表示概不就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。 HUABAO INTERNATIONAL HOLDINGS LIMITED 華 寶 國 際 控 股 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：00336） 授權代表之變更 華寶國際控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司之執行董 事、副主席兼總裁夏利群先生將不再擔任香港聯合交易所有限公司證券上市規則第3.05條 項下本公司之其中一位授權代表（「授權代表」），自2025年8月29日起生效。 香港，2025年8月29日 於本公告日期，董事會由六名執行董事包括朱林瑤女士、林嘉宇先生、夏利群先生、潘昭國先生、林嘉炘女士及蔡 文霞女士；以及三名獨立非執行董事包括李祿兆先生、 ...

Core Insights - The global oral tobacco market is projected to reach $11.232 billion in 2024, reflecting a year-on-year growth of 57.57%, and is expected to grow to $25.148 billion by 2028, with a CAGR of 22.32% from 2024 to 2028 [1][2] - The North American and European markets are experiencing high growth rates, while the Asian and African markets are in early stages, indicating significant potential for rapid development in emerging markets [1][2] - The FDA's approval of flavored oral tobacco products is anticipated to act as a catalyst for market growth, potentially increasing the overall market ceiling [1][4] Market Overview - The retail market for oral tobacco is highly concentrated, with Philip Morris International, British American Tobacco, and Altria Group holding market shares of 41.1%, 24.6%, and 13.8% respectively, totaling 79.5% of the market [2] - In 2024, the North American oral tobacco market is expected to reach $8.775 billion, growing by 58.30% year-on-year, while the European market is projected to reach $2.415 billion, with a year-on-year growth of 56.12% [1][2] Company Performance - Philip Morris International's ZYN nicotine pouch sales are projected to be 644 million boxes in 2024, a year-on-year increase of 52.93%, with U.S. sales accounting for 581 million boxes, up 51.49% [2] - British American Tobacco's oral tobacco sales, including brands like Velo and Grizzly, are expected to reach 8.3 billion pouches in 2024, reflecting a year-on-year growth of 55%, with U.S. sales surging by 234% [2] Regulatory Developments - The FDA has authorized the sale of 20 ZYN nicotine pouch products, which are deemed to have lower harmful components compared to traditional cigarettes and most smokeless tobacco products, aligning with public health standards [4] - The approval of flavored products is expected to enhance market growth and expand the market's potential [4] Industry Opportunities - Jin Cheng Pharmaceutical is increasing its production capacity to 200 tons per year, focusing on high-purity nicotine for new tobacco products, which positions the company to benefit from the expanding oral tobacco market [5][6] - The company has received various certifications, including FDA PMTA approval, which enhances its competitive edge in the market [6] Investment Recommendations - Companies to watch in the oral tobacco supply chain include Jin Cheng Pharmaceutical (300233.SZ) and Run Du Co., Ltd. (002923.SZ) [7]

Performance Summary - SF Holding reported a revenue of 146.858 billion yuan, a year-on-year increase of 9.26%, and a net profit of 5.738 billion yuan, up 19.37% year-on-year [2] - Shanghai Pharmaceuticals achieved a revenue of 141.593 billion yuan, a growth of 1.56%, with a net profit of 4.459 billion yuan, increasing by 51.56% [2] - New China Life Insurance's revenue reached 69.429 billion yuan, a 25.5% increase, and a net profit of 14.799 billion yuan, up 33.5% [2] - Huadian International Power's revenue was 59.953 billion yuan, down 8.98%, while net profit increased by 13.15% to 3.904 billion yuan [2] - China Pacific Insurance reported a revenue of 55.964 billion yuan, a slight increase of 0.2%, and a net profit of 6.764 billion yuan, up 12.2% [2] - CITIC Securities had a revenue of 46.552 billion yuan, a 16.28% increase, and a net profit of 13.719 billion yuan, up 29.79% [2] - Beijing Enterprises Holdings reported a revenue of 44.529 billion yuan, a 5.2% increase, and a net profit of 3.404 billion yuan, up 8.1% [2] - Li Auto's vehicle sales revenue for Q2 2025 was 28.9 billion yuan, down 4.7%, with a net profit of 1.093 billion yuan, a decrease of 0.9% [2] - Huishang Bank reported a revenue of 21.157 billion yuan, a 2.25% increase, and a net profit of 9.109 billion yuan, up 5.55% [2] - SMIC achieved a revenue of 4.456 billion USD, a 22% increase, with a net profit of 320 million USD, up 35.6% [2] - China Galaxy Securities reported a total revenue of 18.798 billion yuan, an 18.92% increase, and a net profit of 6.488 billion yuan, up 47.86% [2] - Zhongjun Group Holdings had a revenue of 18.521 billion yuan, down 25.4%, with a net loss of 3.48 billion yuan, a narrowing of 5.5% [2] - BeiGene reported a revenue of 2.433 billion USD, a 44.7% increase, and a net profit of 95.59 million USD, turning from a loss of 372 million USD [2] - SF Express City reported a revenue of 10.236 billion yuan, up 48.8%, and a net profit of 137 million yuan, up 120.4% [2] - China Shipbuilding Defense reported a revenue of 10.173 billion yuan, a 16.54% increase, and a net profit of 526 million yuan, up 258.46% [2] - Qingdao Port reported a revenue of 9.434 billion yuan, a 4.04% increase, and a net profit of 2.842 billion yuan, up 7.58% [2] - Shanghai Industrial Holdings reported a revenue of 9.476 billion yuan, down 8.6%, and a net profit of 1.042 billion yuan, down 13.2% [2] - Everbright Securities reported a revenue of 7.481 billion yuan, a 17.7% increase, and a net profit of 1.683 billion yuan, up 21% [2] - Baozun reported a revenue of 4.617 billion yuan, a 5.63% increase, with a net loss of 97.04 million yuan, narrowing [2] - Sichuan Chengyu Expressway reported a revenue of 4.08 billion yuan, down 23.3%, and a net profit of 838 million yuan, up 20.1% [2] - Baideli Holdings reported a revenue of approximately 3.813 billion yuan, down 10.9%, and a net profit of 7.1 million yuan, down 79.1% [2] - Tigermed reported a revenue of 3.25 billion yuan, down 3.21%, and a net profit of 383 million yuan, down 22.22% [2] - Zhengli New Energy reported a revenue of 3.172 billion yuan, a 71.9% increase, and a net profit of 220 million yuan, turning from a loss of 130 million yuan [2] - Sensong International reported a revenue of 2.687 billion yuan, down 22.7%, and a net profit of 338 million yuan, down 10.15% [2] - Dasheng Holdings reported a revenue of approximately 2.593 billion yuan, a 27% increase, and a net profit of 65.924 million yuan, up 504.4% [2] - SenseTime reported a revenue of 2.358 billion yuan, a 35.6% increase, with a gross profit of 908 million yuan, up 18.4%, and an adjusted net loss of 1.162 billion yuan, narrowing by 50% [2] - Ruian Real Estate reported a revenue of 2.074 billion yuan, flat year-on-year, with a net profit of 51 million yuan, down 29.2% [2] - Shangri-La Asia reported a revenue of 1.056 billion USD, a 0.7% increase, and a net profit of 57.9 million USD, down 38.7% [2] - Quanfeng Holdings reported a revenue of 912 million USD, an 11.9% increase, and a net profit of 95.217 million USD, up 54.8% [2] - COSCO Shipping Ports reported a revenue of 806 million USD, a 13.6% increase, and a net profit of approximately 182 million USD, up 30.6% [2] - Tianjin Development reported a revenue of 1.719 billion yuan, down 5.59%, and a net profit of 344 million yuan, up 19.57% [2] Company News - Sillodic Pharmaceuticals successfully administered the new radiolabeled drug 3D1015 to patients with PSMA-positive metastatic castration-resistant prostate cancer, demonstrating safety and preliminary efficacy [2] - Shoucheng Holdings signed a strategic cooperation framework agreement with Alter and Alrite to jointly promote breakthroughs in robotics technology, scene implementation, and industrial chain collaboration [2]

格隆汇8月28日丨华宝国际(00336.HK)公告，于2025年8月28日，集团成员公司已向江苏银行集团认购金 融产品。截至本公告日期，集团成员公司向江苏银行集团认购的该等金融产品仍未到期合计投资总额为 人民币8.92亿元。 ...

华宝国际(00336)发布公告，于2025年8月28日(交易时间后)，集团成员公司已向江苏银行（600919）集 团认购金融产品。截至本公告日期，集团成员公司向江苏银行集团认购的该等金融产品仍未到期合计投 资总额为人民币8.92亿元。 于本公告日期，董事确认(i)除该等金融产品仍未到期外，其余的所有向江苏银行集团认购的金融产品均 已按照各自的条款悉数赎回;(ii)集团相信认购该等金融产品各自均获得合理利息;及(iii)认购该等金融产 品将不会对集团的财务状况造成任何不利影响。 ...

Core Viewpoint - Huabao International (00336) has announced an investment of RMB 892 million in financial products from Jiangsu Bank Group, which remains outstanding as of the announcement date [1] Group 1 - As of the announcement date, the total investment amount in financial products from Jiangsu Bank Group that remains outstanding is RMB 892 million [1] - The board has confirmed that all other financial products subscribed to Jiangsu Bank Group have been fully redeemed according to their respective terms [1] - The group believes that the subscriptions to these financial products have yielded reasonable interest and will not adversely affect the group's financial condition [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，並明確表示概不就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。 董事會謹此公佈，於2025年8月28日（交易時間後），本集團成員公司已向江蘇銀行集團 認購金融產品。截至本公告日期，本集團成員公司向江蘇銀行集團認購的該等金融產品 仍未到期合計投資總額為人民幣892,000,000元。 於本公告日期，董事確認（i）除該等金融產品仍未到期外，其餘的所有向江蘇銀行集團 認購的金融產品均已按照各自的條款悉數贖回；（ii）本集團相信認購該等金融產品各自 均獲得合理利息；及（iii）認購該等金融產品將不會對本集團的財務狀況造成任何不利影 響。 上市規則的涵義 在認購第五項金融產品之前，由於根據上市規則第14.07條就首項金融產品、第二項金融 產品、第三項金融產品及第四項金融產品，不論是單獨計算或合併計算的所有適用百分 比率低於5%，根據上市規則第14章，認購首項金融產品、第二項金融產品、第三項金融 產品及第四項金融產品並不構成須予公佈交易。 HUABAO INTERNATIONAL ...

Investment Rating - The investment rating for Huabao International is "Buy" (maintained) [5][9] Core Views - The company has launched an equity incentive plan to strengthen confidence and is looking forward to opportunities in the HNB supply chain [1] - The company reported a revenue of 1.621 billion yuan for the first half of 2025, with a year-on-year growth of 2.5%, and a significant increase in net profit attributable to shareholders by 298% [1][5] - The company aims to accelerate international development and expand overseas markets, with potential merger and acquisition opportunities [4] Summary by Sections Equity Incentive Plan and H1 2025 Performance - The equity incentive plan includes 148 million stock options, accounting for 4.6% of the current total share capital, with an exercise price of HK$3.95 per share [1] - The performance for H1 2025 shows a revenue of 1.621 billion yuan, a gross margin of 43.4%, and a net profit attributable to shareholders of 118 million yuan [1] Downstream Demand - Tobacco production in H1 2025 reached 27.51 million boxes, showing a year-on-year increase of 0.8% [2] - The food and beverage sector saw a year-on-year increase in added value of 7.5% for agricultural and sideline food processing, and 6.3% for food manufacturing [2] Business Segmentation - Revenue from flavor and food ingredients was 596 million yuan, down 8.6%, while revenue from tobacco raw materials increased by 45.3% to 238 million yuan [3] - The company has completed the construction of a new tobacco leaf production base in Indonesia, with an annual capacity of 3,000 tons [3] Outlook for H2 2025 - The company plans to continue accelerating its international development and enhance supply chain management, with cash and financial assets totaling 6 billion yuan as of H1 2025 [4] Financial Forecast - Revenue projections for 2025-2027 are 3.598 billion yuan, 4.075 billion yuan, and 4.670 billion yuan, with year-on-year growth rates of 6.66%, 13.26%, and 14.60% respectively [5][10]