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之內容概不負責，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 引致之任何損失承擔任何責任。 ( 於香港註冊成立之有限公司 ) (股份代號: 887) 根據上市規則第十四 A 章之規定，楊氏家族成員為本公司之關連人士，故此該等交易構成本 公司之持續關連交易。 由於參考 2026 年至 2028 年寄售年度上限計算之適用百分比率（定義見上市規則）超過 0.1% 但少於 5%，根據上市規則第十四 A 章之規定，該等交易須遵守公告、匯報及年度審閱之規 定，惟可獲豁免徵求獨立股東之批准。 2026 年至 2028 年寄售協議 於 2025 年 12 月 4 日（交易時段後），本公司訂立 2026 年至 2028 年寄售協議，以重續關於規 管與楊氏家族寄售安排之持續關連交易，由 2026 年 1 月 1 日開始。根據 2026 年至 2028 年寄售 協議中之條款及條件，本集團可於 2026 年 1 月 1 日至 2028 年 12 月 31 日期間自行酌情決定與 楊氏家族成員作出寄售安排。 根據 202 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 英皇鐘錶珠寶有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 不適用 FF301 III.已發行股份及/或庫存股份變動詳情 (A). 股份期權（根據發行人的股份期權計劃） | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號(如上市) | 00887 | | 說明 | | | | | | | | | 股份期權計劃詳情 | 上月底結存的股份期權數 目 | | 本月內變動 | | 本月底結存的股份期權數 目 | 本月內因此發行的新股數 目 (A1) | 本月内因此自庫存轉讓的 庫存股份數目 (A2) | 本月底因此可能發行或自 庫存轉讓的股份數目 | 本月底可於所有根據計劃 授出的股份期權予以行使 時發行或自 ...

Core Viewpoint - The closure of the Emperor Palace Casino in Macau, owned by entertainment tycoon Yang Shoucheng, highlights the challenges faced by satellite casinos amid regulatory changes and financial difficulties within the Emperor Group [4][7][22]. Summary by Sections Casino Closure - The Emperor Palace Casino has ceased operations, with its signage changed from "casino" to hotel promotions, reflecting its transition [6][10]. - The closure is part of a broader trend where many satellite casinos in Macau are set to stop operations by the end of the year due to regulatory changes [7][19]. Financial Impact - The casino's closure is significant for the Emperor Group, which is currently facing a debt crisis. The casino was a stable source of cash flow, contributing significantly to the group's finances [7][14]. - Prior to its closure, the casino had already reduced operations, with only slot machines remaining active, generating limited revenue compared to table games [9][12]. Historical Context - The Emperor Palace Casino opened in 2006 and quickly gained popularity, generating approximately 1.2 billion HKD in revenue in its first fiscal year [11]. - Despite its initial success, the casino's performance declined, especially during the pandemic, leading to consecutive years of losses [14][15]. Regulatory Environment - The Macau government has mandated that all satellite casinos must either cease operations or be acquired by licensed operators by the end of 2025, impacting the future of many such establishments [19][22]. - Other satellite casinos, including those owned by major operators, have also begun to close, indicating a significant shift in the Macau gaming landscape [20][21]. Market Trends - Despite the closures, reports indicate that Macau's gaming industry is experiencing a resurgence, with potential revenue growth expected in the coming months [22]. - Analysts predict that October's gaming revenue could reach between 23.3 billion to 24.1 billion HKD, marking a six-year high [22].

第 1 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 英皇鐘錶珠寶有限公司 呈交日期: 2025年11月3日 I. 法定/註冊股本變動 不適用 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00887 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 7,256,708,129 | | 0 | | 7,256,708,129 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 7,256,708,129 | | 0 | | 7,256,708 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 英皇鐘錶珠寶有限公司 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 不適用 FF301 第 1 頁 共 10 頁 v 1.1.1 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00887 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 7,256,708,129 | | 0 | | 7,256,708,129 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 7,256,708,129 | | 0 | | 7,256,708,129 | ...

Group 1: Domestic Gold Market - Domestic gold prices have stabilized after a slight decline, with the highest price at 1078 CNY/gram and the lowest at 999 CNY/gram, maintaining a price difference of 79 CNY [1] - The latest prices from various gold retailers show a mix of slight declines and stable prices, with notable prices including Lao Miao at 1067 CNY/gram (down 8 CNY) and Shanghai China Gold at 999 CNY/gram (unchanged) [1] - Platinum prices have increased, with Zhou Shengsheng's platinum jewelry priced at 557 CNY/gram, up by 5 CNY [1] Group 2: Gold Recycling Prices - The gold recycling price has decreased by 4.5 CNY/gram, with significant price differences among brands [2] - The current recycling prices for gold are as follows: 815 CNY/gram for general gold, 820.50 CNY/gram for Cai Bai, and 828.00 CNY/gram for Lao Feng Xiang [2] Group 3: International Gold Market - The spot gold price has continued to decline, closing at 3644.29 USD/ounce, down 0.42%, with a slight recovery to 3645.15 USD/ounce reported [4] - The decline in gold prices is attributed to a strengthening US dollar and a decrease in initial jobless claims in the US, leading to profit-taking by investors [4] - Despite recent declines, the long-term outlook for gold remains positive, with expectations of a potential rise towards 4000 USD/ounce as market consensus strengthens [4]

(Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） （Stock Code 股份代號：887） NOTIFICATION LETTER 書面通知 Dear Non-registered Shareholder (Note 1) , 9 September 2025 The following document(s) of Emperor Watch & Jewellery Limited ("Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at https://www.EmperorWatchJewellery.com and The Stock Exchange of Hong Kong Limited at https://www.hkexnews.hk (collectively "Websites"):- If you have provided an em ...

(Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） （Stock Code 股份代號：887） NOTIFICATION LETTER 書面通知 Dear Registered Shareholder(s), 9 September 2025 The following document(s) of Emperor Watch & Jewellery Limited ("Company") has/have been prepared in English and Chinese and is/are available on the websites of the Company at https://www.EmperorWatchJewellery.com and The Stock Exchange of Hong Kong Limited at https://www.hkexnews.hk (collectively "Websites"):- 2025 Interim Report If you have not p ...

Financial Performance - Total revenue increased by 7.6% to HKD 2,794 million for the six months ended June 30, 2025, compared to HKD 2,597 million in 2024[4] - Gross profit rose by 7.7% to HKD 840 million, with a gross margin of 30.1%, up from 30.0% in the previous year[6] - Net profit increased by 4.9% to HKD 194 million, with basic earnings per share at HKD 2.73, a slight increase from HKD 2.72[6] - Total revenue for the six months ended June 30, 2025, was HKD 2,793,641,000, representing a year-on-year increase of 7.6% from HKD 2,597,314,000[23] - Gross profit for the same period was HKD 840,350,000, up from HKD 780,195,000, indicating a gross margin improvement[23] - The net profit for the period was HKD 194,322,000, compared to HKD 184,708,000 in the previous year, reflecting a growth of 5.4%[25] - The company declared an interim dividend of HKD 0.0055 per share, totaling approximately HKD 39,912,000, down from HKD 44,066,000 in the previous year[21] - Basic earnings attributable to the company's owners for the six months ended June 30, 2025, were HKD 196,474,000, an increase from HKD 184,708,000 in 2024, representing a growth of about 6.4%[53] Revenue Breakdown - Revenue from Hong Kong grew by 8.8% to HKD 1,594 million, accounting for 57.1% of total revenue, while revenue from mainland China rose by 8.7% to HKD 723 million, representing 25.9% of total revenue[5] - The jewelry segment saw a significant revenue increase of 13.4% to HKD 1,094 million, with gold products making up 75.2% of the jewelry segment's revenue[5] Strategic Initiatives - The company plans to open 600 new jewelry stores in mainland China over the next five years, focusing initially on first-tier and new first-tier cities[8] - The company has launched a strategic partnership with a prominent figure in the jewelry industry to enhance its business in mainland China[8] - The company aims to strengthen its online presence through platforms like Xiaohongshu and Douyin, and plans to engage in e-commerce live streaming to boost brand visibility[9] Cash and Assets - As of June 30, 2025, the group's bank balance and cash on hand amounted to HKD 1,508,000,000, an increase from HKD 950,000,000 as of December 31, 2024[15] - The current assets and current liabilities were approximately HKD 4,586,000,000 and HKD 569,000,000 respectively, resulting in a current ratio of 8.1, up from 7.7 as of December 31, 2024[16] - The cash and cash equivalents at the end of the period stood at HKD 1,111,708,000, up from HKD 688,720,000 at the end of June 2024, marking an increase of approximately 61%[31] - The company’s retained earnings increased to HKD 2,139,874,000 as of June 30, 2025, from HKD 1,993,131,000 at the beginning of the period, reflecting a growth of approximately 7.3%[28] Share and Equity Information - The group successfully placed 477,250,000 shares at HKD 0.167 per share, raising approximately HKD 79,000,000, which was used for retail network expansion and general working capital[17] - As of June 30, 2025, total equity attributable to owners of the company increased to HKD 5,186,911,000 from HKD 5,046,688,000 at the beginning of the period, reflecting a growth of approximately 2.8%[28] - The number of ordinary shares used for calculating basic earnings per share increased to 7,256,708,129 in 2025 from 6,779,458,129 in 2024, indicating a rise of approximately 7.0%[55] Liabilities and Expenses - Tax expenses for the six months ended June 30, 2025, totaled HKD 46,469,000, compared to HKD 38,606,000 in 2024, representing an increase of approximately 20.3%[47] - Employee costs, including directors' remuneration, rose to HKD 200,297,000 in 2025 from HKD 184,969,000 in 2024, marking an increase of about 8.3%[45] - The company recorded a loss of HKD 14,388,000 in other income or losses for the first half of 2025, compared to a loss of HKD 5,733,000 in 2024, indicating a deterioration in this area[45] Governance and Compliance - The company has complied with all corporate governance codes as per the listing rules during the reporting period[72] - The company’s interim financial statements have not been reviewed or audited by its auditors but have been reviewed by the audit committee, which consists of three independent non-executive directors[75] - The company has maintained a strong governance framework, ensuring compliance with the established standards for securities trading among its directors[73]

Core Viewpoint - The performance of Yili in 1H25 demonstrates its long-term competitive advantages, with a revenue growth of 3.4% year-on-year despite industry challenges and declining demand [1] Group 1: Revenue and Profitability - Yili's liquid milk revenue only decreased by 2.1% year-on-year, significantly less than major competitors [1] - Core operating profit increased by 26% year-on-year, with a core operating profit margin expanding by 2.4 percentage points, attributed to a decrease in raw milk prices and a reduction in overall expense ratios [1] - The contribution of new retail channels to liquid milk revenue was nearly 30%, while new product revenue contributed approximately 15% [2] Group 2: Competitive Advantages - Yili has stronger channel control, actively providing benefits to distributors to ensure their profitability, which motivates them to promote Yili products [1][2] - The company has a more balanced product structure compared to major competitors, with double-digit revenue growth in categories like milk powder, cheese, and ice cream, which collectively contributed over 40% to total revenue [2] - Yili has found a better balance between sales volume, price, and product structure, ensuring stable market share despite a slight decline in liquid milk revenue [2] Group 3: Future Outlook - Revenue trends are expected to maintain in 2H25, but profit margins may face pressure due to narrowing declines in raw milk prices, continued product structure decline, increased industry promotions, and strategic benefits to channels [3] - The company forecasts a 1.0 percentage point expansion in operating profit margin to 10.9% for the full year 2025, with net profit margin increasing by 2.2 percentage points to 9.5% [3] - Market sentiment is expected to improve, with an upgrade to "buy" rating due to Yili's stronger performance resilience compared to competitors, enhancing investor confidence [3]