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。 董事會會議召開日期 廣州白雲山醫藥集團股份有限公司（「本公司」）董事會（「董事會」）茲通告謹定於2025年10月28日（星期 二）舉行董事會會議，藉以審議及批准本公司及其附屬公司截至2025年9月30日止九個月未經審計財 務業績及處理其他事項（如有）。 廣州白雲山醫藥集團股份有限公司 董事會 中國廣州，2025年10月14日 於本公告日，本公司董事會成員包括執行董事李小軍先生、陳傑輝先生、程寧女士、程洪進先生、 唐和平先生與黎洪先生，及獨立非執行董事陳亞進先生、黃民先生、黃龍德先生與孫寶清女士。 ...

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are Green Power Environmental (70.05%), China Telecom (69.96%), and COSCO Shipping Energy (68.73%) [1][2] - The companies with the largest increase in holding amounts over the last five trading days are Zijin Mining (+1 billion), Kuaishou (+0.981 billion), and Pop Mart (+0.624 billion) [1][2] - The companies with the largest decrease in holding amounts over the last five trading days are SMIC (-2.258 billion), Hua Hong Semiconductor (-1.222 billion), and Alibaba (-0.714 billion) [1][4] Hong Kong Stock Connect Holding Ratios - Green Power Environmental (01330) has a holding of 283 million shares, representing 70.05% [2] - China Telecom (00728) has a holding of 9.711 billion shares, representing 69.96% [2] - COSCO Shipping Energy (01138) has a holding of 891 million shares, representing 68.73% [2] - Other notable companies include Changfei Optical Fiber (06869) at 68.48% and China Shenhua (01088) at 67.25% [2] Recent Increases in Holdings - Zijin Mining (02899) saw an increase of 1 billion in holding amount, with a change of 29.19 million shares [2][4] - Kuaishou (01024) experienced an increase of 0.981 billion, with a change of 12.19 million shares [2][4] - Pop Mart (09992) had an increase of 0.624 billion, with a change of 2.39 million shares [2][4] Recent Decreases in Holdings - SMIC (00981) had a decrease of 2.258 billion in holding amount, with a change of 28.18 million shares [4] - Hua Hong Semiconductor (01347) saw a decrease of 1.222 billion, with a change of 13.86 million shares [4] - Alibaba (09988) experienced a decrease of 0.714 billion, with a change of 4.39 million shares [4]

Core Viewpoint - The dispute over the "Wang Lao Ji" trademark between Jia Duo Bao Group and Wang Lao Ji has escalated, with both parties claiming ownership and legitimacy of their respective trademarks in various jurisdictions [1][3][8]. Group 1: Trademark Ownership Claims - Jia Duo Bao Group asserts that it legally acquired the "Wang Lao Ji" trademark in the early 2000s and has registered it in over 60 countries and regions [1][3][5]. - Wang Lao Ji claims that the trademark ownership belongs to Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited, and they have legal documents to support their position [8]. - Both companies cite different court rulings to validate their claims, with Jia Duo Bao mentioning victories in Canadian and EU courts regarding their trademark registrations [8]. Group 2: Legal Actions and Responses - Wang Lao Ji has initiated legal challenges against Jia Duo Bao's trademark registrations in 21 countries, with 10 jurisdictions already ruling in favor of Wang Lao Ji by revoking Jia Duo Bao's trademark registrations [8]. - Jia Duo Bao emphasizes its commitment to protecting its brand and will take all necessary legal actions against any infringement or market disruption [5][6]. - The trademark registration strategies differ, with Jia Duo Bao using "WANG LAO JI" and "WONG LO KAT," while Wang Lao Ji has registered "WALOVI," although both parties agree on the Chinese name "王老吉" [8].

Core Insights - Wanglaoji's WALOVI international can has been launched in Germany, marking a significant step in the brand's internationalization strategy in the European market [1][2] - The entry into the German market is seen as a crucial move to capture the growing demand for plant-based beverages in Europe [1] Group 1: Market Entry and Strategy - Wanglaoji's WALOVI international can is the first product launched overseas after its global release in August [1] - The company aims to deepen its market presence in Europe by establishing a multi-channel market network through large supermarkets and dining channels [2] - Germany is identified as a key market due to its status as Europe's economic center and its high standards in the food market [1] Group 2: Market Context and Consumer Trends - Germany's GDP is projected to reach $4.66 trillion in 2024, accounting for over 20% of the EU's total economic output [1] - There is a rising consumer focus on healthy eating in Germany, particularly for natural, low-sugar, and plant-based beverage categories [1] - The Anuga exhibition attracted over 170,000 professional visitors and featured around 7,800 exhibitors from over 100 countries, highlighting the global interest in food and beverage innovations [2]

Core Viewpoint - The ongoing trademark dispute between Wanglaoji and JDB has escalated, with both companies making conflicting claims regarding the ownership of the "Wanglaoji" trademark in overseas markets [1][2][4]. Group 1: Background of the Dispute - The trademark conflict began in 2010 and has persisted for over a decade, with both companies now focusing on expanding their presence in international markets as domestic growth slows [5]. - JDB claims to have legally obtained the overseas rights to the "Wanglaoji" trademark in the early 2000s, while Wanglaoji asserts that JDB maliciously registered the trademark to hinder its international expansion [2][4]. Group 2: Legal Actions and Responses - Wanglaoji has registered the "Wanglaoji" and "WALOVI" trademarks in over 100 countries and regions, with clear ownership rights as of September 30, 2025 [3]. - Wanglaoji has initiated legal actions in 21 countries and regions, including Macau and Brazil, against JDB for trademark misuse, with 10 jurisdictions already supporting Wanglaoji's claims [3]. - JDB's response emphasizes its strategic intent to expand into over 60 countries and regions, claiming that its trademark registrations are aimed at market development [4]. Group 3: Market Strategies - Wanglaoji has launched international products under the "WALOVI" brand and plans to localize production in Malaysia, targeting the U.S. and Southeast Asia as key markets [5]. - JDB is also pursuing overseas expansion, focusing on markets in Southeast Asia and Hong Kong, with plans for a potential listing in Hong Kong [5]. Group 4: Legal Environment - Legal experts note that the trademark dispute is complicated by differing trademark governance systems across countries, leading to varying interpretations of trademark rights [6]. - The ongoing global market strategies of both companies suggest that the trademark conflict will continue to unfold through legal channels in various jurisdictions [6].

Core Viewpoint - The ongoing trademark dispute between Jia Duo Bao and Wang Lao Ji has intensified, with both companies making significant claims regarding their rights to the "Wang Lao Ji" brand in international markets [4][6][14]. Group 1: Trademark Ownership Claims - Jia Duo Bao asserts that it acquired the overseas trademark rights for "Wang Lao Ji" in the early 2000s and has since registered the trademark in over 60 countries [4][9]. - Wang Lao Ji claims that the current trademark owner is Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd., and that it has registered the "Wang Lao Ji" and "WALOVI" trademarks in over 100 countries [13][14]. Group 2: Recent Developments - In August 2023, Wang Lao Ji launched its international core brand "WALOVI" and introduced four international canned products [6]. - Jia Duo Bao reported victories in multiple lawsuits in Canada and the EU, defending its overseas trademark rights [9]. Group 3: Historical Context - The trademark dispute dates back to 2012 when an arbitration ruling invalidated the trademark licensing agreements between Guangzhou Pharmaceutical Group and Jia Duo Bao's parent company [14]. - In 2023, a court ruled that Jia Duo Bao must pay 317 million yuan for trademark infringement, which Jia Duo Bao plans to appeal [14].

Core Viewpoint - The trademark dispute over "Wanglaoji" between JDB Group and Guangzhou Wanglaoji Health Industry Co., Ltd. has intensified, with both parties asserting their claims regarding overseas trademark ownership and registration [3][4]. Group 1: Trademark Dispute - JDB Group claims to have obtained the overseas trademark rights for "Wanglaoji" in the early 2000s and has registered the trademark in 60 countries [3]. - Guangzhou Wanglaoji Health Industry Co., Ltd. asserts that the current trademark owner is Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd., and they have registered "Wanglaoji" in over 100 countries [4]. - The ongoing dispute has seen legal actions, including a recent court ruling that found JDB Group liable for infringement, resulting in a compensation order of 317 million yuan [4]. Group 2: Market Position and Strategy - As of June 2025, Wanglaoji holds a 46.33% market share in the plant beverage category, while JDB follows with 28.31% [4]. - Wanglaoji is expanding its international market presence with new product launches and partnerships, including the introduction of "WALOVI" branded cans in various international markets [5]. - The company reported a revenue of 6.499 billion yuan in the first half of 2025, reflecting an 8.38% year-on-year growth [5]. Group 3: Industry Growth - The global plant beverage industry is experiencing rapid growth, with a compound annual growth rate of nearly 10% projected from 2019 to 2024, particularly in emerging markets like Southeast Asia and the Middle East [6].

Group 1 - Zong Fuli has resigned from her positions as Chairman and General Manager of Wahaha Group, effective September 12, due to trademark compliance issues and plans to focus on her own brand "Wah Xiaozong" [3] - Core member Yan Xuefeng of Wahaha Group, previously under investigation, has returned to work after being cleared of allegations [3] - ByteDance founder Zhang Yiming made a public appearance for the first time in years, launching the Shanghai Xuhui Zhichun Innovation Center aimed at nurturing talent in computer science and AI [3] Group 2 - Qualcomm is under investigation by China's market regulator for allegedly failing to report its acquisition of Autotalks, potentially violating antitrust laws [5] - Xibei's founder responded to the logo change at a specific location, stating it is a small-scale trial and will not be implemented nationwide [5] Group 3 - ByteDance announced a new employee support policy providing up to 7.2 million yuan in transitional subsidies for employees laid off due to organizational adjustments [7] - DJI's recent price cuts on multiple products have led to controversy, with some stores in Shenzhen offering price difference refunds for purchases made during a specific period [7] - AI company Zhipu has denied rumors of layoffs before its IPO, stating it has nearly 50 job openings available [7] Group 4 - The ongoing trademark dispute between Jia Duo Bao and Wang Laoji has escalated, with both parties claiming ownership of the overseas Wang Laoji trademark [7] - Ding Tai Fung announced the closure of its WeChat store and has already shut down over ten physical locations due to brand operational adjustments [7] Group 5 - Former CBO of Zeekr, Guan Haitao, confirmed his departure from the company for personal reasons [10] - Pop Mart's Halloween series blind boxes sold out quickly, with one hidden variant seeing a price increase of over 13 times its original price [10] Group 6 - Zheng Qinwen has been named the first global brand ambassador for Bawang Tea [11] - TIME magazine's annual list of 300 best inventions includes products from companies like Huawei, BYD, and Apple [11] Group 7 - Great Wall Motors is adjusting its direct sales channels, with the Tank brand being phased out in favor of the Wey brand [16] - Meituan's community supermarket "Happy Monkey" is set to open its first northern store in Yanjiao, Hebei, on October 17 [16] Group 8 - Standard Chartered China has completed its first domestic RMB aircraft financing loan of 1 billion yuan for China Eastern Airlines [19] - Blue Sky Aviation has secured several million yuan in angel financing to develop its eVTOL products [20] Group 9 - Leapmotor has released teaser images for its luxury flagship SUV D19, set to debut on October 16 [21] - IDC reported that Lenovo holds a 25.5% market share in the global PC market, leading with 19.4 million units shipped [23]

加多宝和王老吉的海外"王老吉"商标之争继续发酵。 10月10日，加多宝集团发布关于海外"王老吉"商标所有权的声明称，加多宝集团自上世纪九十年代从王 老吉（正名王泽邦）后人手中取得祖传凉茶秘方及海外王老吉商标使用权，并于2000年初合法获得海外 王老吉商标所有权。 声明提及，为了让更多消费者认识中国的凉茶品类，加多宝集团积极开拓海外市场，在全球超过60个主 要国家和地区注册王老吉商标，巩固其市场上的地位和品牌形象。通过不断扩展营销渠道，深入市场， 加多宝集团拥有的海外王老吉品牌凉茶至今已远销全世界数十多个国家和地区。 二是关于加多宝集团蓄意误导"王老吉"境外商标的情况，王老吉称，加多宝集团所谓"侵权、假冒、不 正当竞争"的表述，是对商标法律定义的误读与误导，其通过海外离岸关联公司万捷有限公司在全球60 余个国家和地区进行恶意注册，干扰公司正常拓展海外业务。针对加多宝集团的上述恶意行径，王老吉 坚决采取维权行动。在中国澳门、中国台湾、澳大利亚、巴西、韩国、日本、德国、法国、新西兰等21 个国家/地区，以商标不使用撤销、商标无效宣告的程序对其恶意注册行为进行打击。现已有10个国家/ 地区的审理机关作出撤销其商标的决 ...

Core Viewpoint - The trademark dispute over "Wanglaoji" has intensified, with both JDB Group and Guangzhou Wanglaoji Health Industry Co., Ltd. claiming ownership of the overseas trademark rights [1] Group 1: JDB Group's Position - On October 10, JDB Group announced it holds the overseas trademark rights for Wanglaoji, claiming to have acquired the rights from Wanglaoji's descendants in the 1990s [1] - JDB Group asserts that it legally obtained the overseas trademark ownership in the 2000s and has registered the Wanglaoji trademark in 60 major countries and regions worldwide [1] - The company plans to take legal action to protect its rights against what it describes as false claims regarding the overseas Wanglaoji brand rights [1] Group 2: Guangzhou Wanglaoji Health Industry Co., Ltd.'s Position - On September 30, Guangzhou Wanglaoji Health Industry Co., Ltd. accused JDB Group of malicious trademark registration, asserting that the Wanglaoji trademark is owned by Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. [1] - The company claims to have registered the "Wanglaoji" and "WALOVI" series trademarks in over 100 countries and regions globally [1] - It alleges that JDB Group has interfered with its normal overseas business expansion through malicious registrations by offshore affiliates [1]