(Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） (Stock code: 984) （股份代號：984） As a Non-registered Shareholder, if you wish to receive Corporate Communications in electronic form, you should liaise with your bank(s), broker(s), custodian(s) or nominee(s) or HKSCC Nominees Limited through which your share(s) is/are held (collectively, the "Intermediaries") and provide your functional email address to your Intermediaries. If the Company does not receive your functional email address from the I ...

(Incorporated in Hong Kong with limited liability) （於香港註冊成立之有限公司） (Stock code: 984) （股份代號：984） NOTIFICATION LETTER 通知信函 28 April 2025 Dear Registered Shareholder, AEON Stores (Hong Kong) Co., Limited (the "Company") The English and Chinese versions of the Current Corporate Communications of the Company are now available on the Company's website at www.aeonstores.com.hk and the Hong Kong Exchanges and Clearing Limited's ("HKEX") website at www.hkexnews.hk. If you have elected to receive the Corporate Communi ...

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通告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任 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。 股東週年大會通告 茲通告永旺（香港）百貨有限公司（「本公司」）謹訂於2025年5月29日（星期四）上午 10時正假座香港新界荃灣青山公路388號中染大廈26樓07-11室的會議室舉行股東 週年大會，藉以處理下列事項： 普通決議案 1 1. 省覽及考慮截至2024年12月31日止年度之經審核財務報表與董事及獨立核數 師之報告書。 2. 重選及選舉董事並授權董事會釐定董事酬金。 3. 續聘核數師並授權董事釐定核數師之酬金。 4. 考慮並酌情通過，或經修訂後通過下列議案，為普通決議案： (i) 「動議： (a) 在下文(i)(b)段之規限下，一般性及無條件批准本公司董事在有關期 間內，於香港聯合交易所有限公司（「聯交所」）或本公司之股份可能 上市並經由證券及期貨事務監察委員會及聯交所就此而認可之任何 其他證券交易所，行使本公司一切權力，購回本公司之股份，惟購回 須遵循及按照所有適用之法例及不時經修訂之聯交所證 ...

此乃要件 請即處理 閣下如對本通函任何方面或 閣下應採取之行動有任何疑問，應諮詢 閣下之股票經紀或其他註冊證券 交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下永旺（香港）百貨有限公司之所有股份，應立即將本通函連同隨附之代表委任 表格交予買主或承讓人或經手買賣或轉讓之銀行、股票經紀或其他代理，以便轉交買主或承讓人。 購回及發行股份之一般授權、 重選退任董事、 選舉新任董事 及 股東週年大會通告 永旺（香港）百貨有限公司（「本公司」）董事會發出之函件載於本通函第3頁至第7頁。 本公司謹定於2025年5月29日（星期四）上午10時正假座香港新界荃灣青山公路388號中染大廈26樓07-11 室的會議室舉行股東週年大會，大會通告載於本通函第19頁至第22頁。無論 閣下能否出席大會，務請盡 快按照隨附之代表委任表格所列印之指示填妥表格，並交回本公司之股份過戶登記處卓佳證券登記有限 公司，地址為香港夏慤道16號遠東金融中心17樓，惟無論如何須於大會或續會指定舉行時間48小時前送達。 本公司股東填妥及交回代表委任表格後，仍可依願親身出席股東週年大會或任何續會並於會上投票。 2025年4月28日 香 ...

Financial Performance - In 2024, the company's revenue reached HKD 9,250 million, reflecting a steady growth trend compared to previous years[7]. - The company reported a loss attributable to shareholders of HKD 450 million in 2024, indicating a challenging financial environment[8]. - The group's total revenue for 2024 decreased by 6.9% to HKD 8,095.3 million compared to HKD 8,692.9 million in 2023[28]. - The adjusted EBITDA for the year was a loss of HKD 246.7 million, an increase in loss of HKD 88.9 million from the previous year's loss of HKD 157.8 million[30]. - The company recorded a loss attributable to shareholders of HKD 338.1 million, which is an increase of HKD 149.4 million compared to a loss of HKD 188.7 million in 2023[29]. - The gross profit margin decreased by 0.3% to 28.9% from 29.2% in 2023[28]. - Hong Kong's GDP for the past year was $286 billion, with retail sales value down 7.3% year-on-year in 2024[18]. - The group's Hong Kong business recorded a 9.5% decline, amounting to HKD 3,746 million, with a segment loss of HKD 288.2 million[20]. - In mainland China, the group's revenue for the year was HKD 4,349.3 million, a decrease of 4.5%, with a loss of HKD 65.9 million[22]. Strategic Initiatives - The company aims to increase the sales proportion of its private label products, TOPVALU, to enhance gross margins and attract consumers[13]. - The AEON App sales in Hong Kong experienced significant growth, highlighting the success of the company's digital transformation efforts[13]. - The company plans to expand its store network in Hong Kong and develop new store formats, including small specialty stores[14]. - The company will focus on accelerating digital transformation, enhancing e-commerce performance, and optimizing internal management to reduce operating costs[15]. - The group plans to open 8 new stores in the Greater Bay Area by 2025 to meet diverse consumer needs[26]. - The group aims to enhance its digital transformation, including the introduction of smart loss prevention systems and self-checkout systems in stores[25]. - The group will focus on promoting high-potential product categories to strengthen brand influence and market competitiveness[23]. Cost Management - The group successfully implemented cost control measures, reducing operational expenses through refined management[20]. - The group’s operating expenses saw a decrease in employee costs by 4.7%, while rental-related expenses increased by 1.3%[28]. - The company plans to optimize internal management and conduct a comprehensive review of existing systems to improve operational efficiency[24]. Sustainability and Environmental Impact - Aeon Group's direct carbon dioxide emissions from kitchen operations are projected to be 422 tons in 2024[46]. - Indirect carbon dioxide emissions from electricity consumption in stores are expected to total 115,713 tons in 2024[46]. - Aeon has recycled 2,561 tons of food waste for reuse in 2024[48]. - The total energy consumption for the group in the year was 151,150,100 kWh for electricity and 1,806,100 kWh for gas[51]. - The total water consumption for the group in the year was 1,054,000 cubic meters[52]. - Aeon collected 71 tons of used cooking oil for recycling into biodiesel products in 2024[50]. - The total packaging materials consumed by the group amounted to 149,600 kg, an increase attributed to early orders for Lunar New Year packaging[52]. - Aeon aims to reduce greenhouse gas emissions from all business activities to achieve a low-carbon society[49]. - The company promotes sustainable sourcing of fishery, aquatic, and agricultural products[57]. Employee Development and Welfare - The company emphasizes employee development through professional training and promotion opportunities to improve customer satisfaction[15]. - As of December 31, 2024, the group employed approximately 8,700 staff, with 6,500 being female[56]. - Total employee count is 8,700, with 3,000 aged 18-35, 4,300 aged 36-50, and 1,400 aged 50 and above[58]. - Employee turnover rate is 4.6%, with 5.1% for males and 4.5% for females; turnover is highest at 7.9% for ages 18-35[58]. - The average training hours per employee are 1.9 for males and 1.6 for females, with full-time administrative staff averaging 2.5 hours[65]. - No work-related fatalities occurred in the past three years, with approximately 1,986 workdays lost due to injuries in the reporting year[60]. - The company has established various training programs, including basic education for new employees and an internal certification system for specific roles[62]. - The employee retention mechanism includes biannual meetings with supervisors to discuss performance and career development[61]. Corporate Governance - AEON's management team includes experienced executives with extensive backgrounds in various operational roles within the company and its subsidiaries[77][78][79][80][81][82]. - AEON董事会由9名董事组成，其中独立非执行董事占三分之一，符合上市规则要求[93]. - The company adopted a nomination policy to ensure a balanced skill set, knowledge, experience, and diverse perspectives among board members[102]. - The company held its annual general meeting on May 27, 2024, with full attendance from all directors[103]. - The board has mechanisms in place to ensure independent viewpoints and opinions are obtained during decision-making processes[111]. - The company encourages directors to seek independent professional advice when necessary, with costs covered by the company[97]. - The company is committed to appointing at least three independent non-executive directors and ensuring that at least one-third of the board members are independent non-executive directors[113]. - The maximum service term for independent non-executive directors eligible for reappointment by the board is nine years[113]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming full compliance by all current directors throughout the year[131]. Related Party Transactions - The company has disclosed related party transactions in accordance with the listing rules, including ongoing transactions with its controlling shareholder, AEON Co., Ltd.[170]. - The total fees paid and payable to the auditor KPMG for the year include HKD 5,496,000 for audit services and HKD 1,596,000 for non-audit services, totaling HKD 7,092,000[141]. - The total amount paid and payable to AEON Group during the year reached RMB 39,677,258, not exceeding the announced cap of RMB 54,700,000[178]. - The company has compared service fees from AEON Group with those from independent third parties to ensure competitive pricing[175]. - The company has arranged appropriate liability insurance coverage for its directors and senior officers[169].

Core Viewpoint - Aeon Supermarket is closing its last store in Beijing, the Fengtai store, on May 16, 2025, due to "business adjustments" as part of a broader strategic shift by the parent company, despite the company stating that Beijing remains an important market [1][3][4]. Group 1: Store Closures and Business Strategy - The Fengtai store is the last Aeon Supermarket in Beijing, with previous locations in Chaoyang and Changping having closed in October 2022 and May 2023 respectively [5]. - Aeon has been closing stores in various cities, including Guangzhou, Wuhan, and Shenzhen, with the Shenzhen store closing after 13 years, leaving only two remaining in the city [8][9]. - The company is shifting focus from underperforming stores to opening new ones in advantageous areas, such as three new stores in Guangdong [9]. Group 2: Financial Performance - Aeon reported a revenue of HKD 80.95 billion for 2024, down from HKD 86.93 billion in 2023, with a net loss of approximately HKD 3.41 billion [8]. - From 2017 to mid-2024, Aeon incurred losses exceeding HKD 7.37 billion in its mainland China operations [8]. Group 3: Market Dynamics and Competition - The competitive landscape for retail has intensified, with local supermarkets like Wumart and Yonghui gaining ground, making it difficult for foreign brands like Aeon to maintain their market share [10]. - Aeon’s initial success in China was attributed to its product offerings, particularly in fresh food, but these advantages have diminished over time [10]. - The rise of e-commerce has further pressured traditional retail, as consumers find it easier to purchase imported goods online, leading to higher operational costs for physical stores [10].

"坏消息，美思佰乐要执笠；好消息，美思佰乐要变永旺。"近期，不少广州街坊在社交平台发帖，称家 附近的美思佰乐已经或即将关店。 据南都记者了解，截至4月27日，广州四家美思佰乐门店将全部关闭。但同时，广东永旺将在广州新开 三家门店，其中两家为美思佰乐原址上经营。 3月起美思佰乐广州门店相继关闭 美思佰乐是日本永旺集团旗下的食品超市。2013年1月，美思佰乐在广州市太阳新天地购物中心（即目 前的广州天河领展广场）开出中国第一家门店，也是当时国内首个主打新鲜食品的超市业态。 永旺（中国）投资有限公司官网显示，随后，在2016年11月美思佰乐海珠合生广场店开业；2018年1 月，美思佰乐圣地新天地店正式开业；2018年4月，永旺美思佰乐恒宝广场店盛大开业。 今年3月1日，美思佰乐恒宝广场店贴出闭店通知。通知显示，由于永旺品牌升级调整，美思佰乐荔湾恒 宝广场店决定于2025年3月31日正式结束营业。次日即4月1日起，广东永旺在美思佰乐荔湾恒宝广场店 地址进行经营。但美思佰乐礼品卡和会员卡积分只限美思佰乐其他门店使用。美思佰乐会员卡可以在广 东永旺旗下各店铺继续使用，但会员积分将重新计算。 4月12日及13日，南都记者分 ...

Core Viewpoint - The deep integration of finance and culture is becoming an important force in promoting economic transformation, with Tianjin Rural Commercial Bank supporting traditional culture and industries through financial empowerment [1][2]. Group 1: Financial Support and Initiatives - Tianjin Rural Commercial Bank provided a credit loan of 3 million yuan to Tianjin Xinghe Yongwang Food Technology Co., Ltd., a non-heritage private micro-enterprise, to help overcome funding bottlenecks and achieve both skill inheritance and industrial upgrading [1][2]. - The bank established a special service team to conduct comprehensive research on Xinghe Yongwang, assessing supply chain stability, production efficiency, and market trends to create a tailored financial solution [2]. - The bank's actions reflect its commitment to inclusive finance and the national policy supporting private micro-enterprises, integrating financial services throughout the non-heritage industry chain [2]. Group 2: Growth and Performance Metrics - As of the end of March, Tianjin Rural Commercial Bank's loans to small and micro enterprises reached 145.287 billion yuan, an increase of 13.896 billion yuan from the previous year, representing a year-on-year growth of 21.29% [3]. - The bank aims to not only provide financial support but also to become a partner in developing cultural value and expanding local brands into broader markets [3]. - Future plans include leveraging financial technology to enhance support for private micro-enterprises, providing precise and efficient financial services to contribute to local economic and cultural prosperity [3].

AEON STORES (HONG KONG) CO., LIMITED 永 旺 (香 港 )百貨有限公司 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佈之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全 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。 (於香港註冊成立之有限公司) (股份代號: 984) 公告 持續關連交易 訂立主許可協議及主服務協議 謹提述本公司於 2024 年 12 月 31 日的公告，有關(其中包括)本公司與 ATV Japan 訂立的補充主商標許可協議。補充主商標許可協議是雙方為 談判及最終確定於 2024 年 12 月 31 日到期過往主商標許可協議的交易 續期條款及條件而採取的臨時措施。雙方現已就條款及條件達成協議， 並載列於下文所述的兩份新主協議中。 於 2025 年 4 月 1 日，本公司與 ATV Japan 訂立主許可協議，據此 ATV Japan 同意向本集團授予使用 TopValu 商標的許可權，自 2025 年 3 月 1 日生效至(並包括)2027 年 12 月 31 日止，許可費用為 ATV 產品採 ...

Financial Performance - AEON Stores (Hong Kong) reported total revenue of HKD 8,095,338,000 for the year ended December 31, 2024, a decrease of 6.85% compared to HKD 8,692,870,000 in 2023[2]. - The company recorded a net loss of HKD 340,721,000 for the year, compared to a net loss of HKD 187,802,000 in the previous year, representing an increase in loss of 81.2%[2][3]. - The total comprehensive loss attributable to owners of the company was HKD 331,847,000 for the year, compared to HKD 187,076,000 in 2023[3]. - The group incurred a total loss of HKD 354,013,000 for the year ending December 31, 2024, compared to a loss of HKD 211,417,000 in the previous year, reflecting an increase in losses[15]. - The group reported a loss of HKD 338.07 million for the year, compared to a loss of HKD 188.66 million in 2023, resulting in a basic loss per share based on 260 million shares issued[21]. - The adjusted EBITDA for the group was a loss of HKD 246.7 million, increasing from a loss of HKD 157.8 million in 2023[40]. - The group's adjusted EBITDA for 2024 was HKD (246,652) thousand, compared to HKD (157,811) thousand in 2023, indicating a decline in operational performance[43]. Revenue Breakdown - Direct sales in Hong Kong amounted to HKD 3,745,995,000, while sales in Mainland China were HKD 4,349,343,000, indicating a shift in revenue distribution[15]. - The company's Hong Kong business recorded a revenue decline of 9.5%, totaling HKD 3,746.0 million in 2024, compared to HKD 4,140.9 million in 2023[31]. - The group's revenue for the year in mainland China was HKD 4,349.3 million, a decrease of 4.5% compared to HKD 4,552.0 million in 2023[33]. - Total revenue for the group decreased by 6.9% to HKD 8,095.3 million in 2024, down from HKD 8,692.9 million in 2023[39]. Assets and Liabilities - The total current liabilities net amount was HKD 1,199,273,000 as of December 31, 2024[6]. - The company’s total assets less current liabilities amounted to HKD 2,529,350,000 as of December 31, 2024[4]. - The group’s current liabilities exceeded current assets by HKD 1,199.3 million as of December 31, 2024, compared to HKD 683.7 million in 2023[41]. - The group has a negative debt-to-equity ratio of -53.32% as of December 31, 2024, due to a loan of HKD 229.7 million from the ultimate holding company AEON Co., Ltd.[41]. Cash Flow and Expenses - Operating cash flow and lease liabilities showed a net outflow of HKD 447,630,000 for the year ended December 31, 2024[6]. - The group confirmed cash flow forecasts indicating the ability to meet financial obligations for the next twelve months, supported by continued backing from its parent company, AEON Co., Ltd.[7]. - The total advertising, promotion, and selling expenses for 2024 were HKD 290.07 million, a slight decrease from HKD 295.98 million in 2023[6]. - The company's total other expenses for 2024 amounted to HKD 1,037.20 million, down from HKD 1,062.91 million in 2023[6]. - The net foreign exchange loss for the year was HKD 5.92 million, compared to a gain of HKD 6.12 million in 2023[7]. Inventory and Assets Management - The company’s inventory as of December 31, 2024, was HKD 845,714,000, slightly up from HKD 837,475,000 in 2023[4]. - Non-current assets, including property, plant, and equipment, increased to HKD 3,609,049,000 from HKD 3,213,060,000 in 2023, reflecting a growth of 12.3%[4]. - The group has pledged HKD 36.8 million of its deposits as collateral for rental deposits and HKD 7.0 million for regulatory purposes[41]. Strategic Initiatives - AEON Stores (Hong Kong) plans to continue focusing on operational efficiency and cost management strategies to mitigate losses in the upcoming fiscal year[6]. - The group successfully launched new products under its brands, such as TOPVALU and HÓME CÓORDY, contributing to increased brand awareness and sales growth[28]. - The group aims to enhance its digital transformation and improve customer experience through the introduction of smart loss prevention systems and smart shopping carts in stores[36]. - The group will continue to optimize its tenant structure and improve service quality to increase rental income, achieving a win-win development[37]. - The group plans to open 8 new stores in the Greater Bay Area in 2025, including locations in Guangzhou, Foshan, Shenzhen, and Jiangmen[37]. - Capital expenditure for the 2025 investment plan is estimated at approximately HKD 256 million for new store openings and renovations[38]. Dividend Policy - The group did not declare any final dividend for the year ending December 31, 2024, maintaining a zero dividend policy as in 2023[20]. - The group will not recommend any final dividend for the year ending December 31, 2024, compared to zero dividend in 2023[40]. Employment and Workforce - The group employed approximately 4,900 full-time and 3,900 part-time staff in Hong Kong and mainland China as of December 31, 2024[44]. Compliance and Review - The audit committee reviewed the annual performance for the year ended December 31, 2024, in conjunction with management[48].