Group 1 - The core event is the grand opening of Aeon at Hengbao Plaza, marking the first food supermarket in the Liwan District by Guangdong Aeon, and a significant milestone for the collaboration between K. Wah International Holdings and Aeon Group [1][3] - Aeon is recognized as a leading comprehensive retail and service enterprise group in Asia, with the new store in Liwan aiming to provide high-quality supermarket options for customers, bringing the total number of Guangdong Aeon stores to 36 [3] - Hengbao Plaza is one of the earliest properties invested by Hong Kong merchants in Guangzhou, strategically located above the Changshou Road subway station in the core of the "Daxiguan business district," serving as a cultural and commercial hub for tourists [5] Group 2 - Hengbao Plaza features a mix of traditional Cantonese cuisine and popular brands, including local favorites and trendy outlets, creating a vibrant experience that merges tradition with modernity [5] - The "Heng You Hui" membership platform is a key factor in Hengbao's popularity, offering tangible benefits and fostering strong community connections among consumers [7]

Core Viewpoint - Aeon is closing its Fengtai store in Beijing on May 16, marking a significant shift in its strategy and a complete withdrawal from the Beijing market after years of retail exploration [1][4][21] Summary by Sections Market Adjustment in North China - Aeon entered the Beijing market with ambitious plans, aiming to capture a share of the retail market through its General Merchandise Store (GMS) format, which offered a wide range of products [3] - The company faced increasing challenges, including high rental costs and rising labor expenses, which pressured its profit margins [3][4] - Local competitors like Yonghui and Wumart gained an advantage due to their understanding of the local market and flexible marketing strategies, intensifying competition [3] Store Closures and Strategic Shift - The closure of the Fengtai store is part of a broader trend of Aeon reducing its presence in Beijing, with customers now needing to travel to Tianjin or Yanjiao for shopping [4] - Aeon's focus has shifted to its remaining stores in Tianjin and Yanjiao, which are adapting to new market trends by transitioning towards smaller food supermarket formats [4][5] Focus on Community and Digitalization - Aeon is enhancing its community engagement by leveraging digital tools, such as the "Aeon Home Delivery" app, to provide convenient delivery services to local residents [5][14] - The company is shifting towards smaller food supermarkets that emphasize fresh produce and high-frequency consumer goods, which are more aligned with community needs [5][10] Expansion in Other Regions - Despite the retreat from Beijing, Aeon continues to expand in the Guangdong-Hong Kong-Macau Greater Bay Area, with plans to open five new stores by 2025, focusing on community-oriented food supermarkets [8] - In Central China, particularly in Wuhan and Changsha, Aeon is also expanding its presence, with plans to increase the number of stores significantly by 2030 [9] Operational Efficiency and Cost Management - Aeon is transitioning from a traditional large-scale retail model to a more efficient, community-focused approach to reduce operational costs and improve profitability [19][21] - The company aims to enhance its supply chain efficiency and digital capabilities to better meet consumer demands and streamline operations [19][21] Brand Development and Product Strategy - Aeon is developing its private label products under the "Tehuiyou" brand to improve market competitiveness and increase profit margins [15] - The company plans to increase the share of its private label sales to 30% within three years, enhancing its product offerings and reducing reliance on third-party brands [15]

Core Viewpoint - AEON is facing significant challenges in the Chinese retail market, leading to store closures and continuous losses over the past eight years, primarily due to increased competition from e-commerce and changing consumer preferences [2][3][4] Store Closures - AEON's Guangzhou Tianhe City store is set to close in June 2023, with ongoing discussions regarding the lease [1] - The company has been closing stores in various locations, including Shenzhen and Beijing, indicating a trend of contraction in its operations [2] Financial Performance - AEON has reported continuous losses since 2017, with a net loss of HKD 341 million in 2024, an increase of 81.4% year-on-year [7] - The company's revenue for 2024 was HKD 8.095 billion, down 6.9% from the previous year, highlighting declining sales amid rising operational costs [7] Market Challenges - The rise of e-commerce platforms like Tmall and JD.com has diverted foot traffic from traditional retail stores, contributing to AEON's struggles [3] - AEON's strategy of offering low-priced items has become less effective as competitors adopt similar tactics and consumer preferences shift towards quality and personalized shopping experiences [3][4] Supply Chain Issues - AEON's reliance on Japanese imports has led to inventory challenges, with 30% of its Japanese products having a sell-through rate of less than 15% [4] - The company's supply chain efficiency is lagging behind competitors, with a fresh produce turnover rate of 3.7 days compared to 1.2 days for Hema [4] Rental Cost Pressures - AEON's business model, which prioritizes prime locations, has resulted in high rental costs that are not matched by sales revenue, leading to store closures [6][7] - The company has been forced to close underperforming stores early to mitigate losses, indicating severe pressure from rising rents [7] Strategic Recommendations - Experts suggest that AEON and similar retailers need to refine their business models, focusing on niche markets and enhancing product quality and customer service to remain competitive [9][10] - AEON's recent store openings in lower-tier cities may provide new growth opportunities, as these locations avoid direct competition with major players like Costco and Sam's Club [10]

Core Viewpoint - The news highlights the potential closure of the AEON store in Guangzhou's Tianhe City, a significant commercial landmark, and the ongoing discussions regarding its lease renewal, indicating a broader trend of commercial transformation in Guangzhou's retail landscape [1][2][4]. Group 1: Company Developments - AEON's Tianhe City store lease is set to expire on June 30, 2025, and discussions for renewal are ongoing, with the possibility of a new operator, Yonghui, entering the market [2][3]. - Despite the rumors of AEON's withdrawal, customer traffic remains high, reflecting the store's long-standing presence and emotional connection with the community [2][3]. Group 2: Industry Trends - The retail landscape in Guangzhou is undergoing significant changes, with traditional supermarkets like AEON facing challenges from online shopping and evolving consumer preferences, leading to store closures and the emergence of new retail formats [4][5]. - Guangzhou's commercial infrastructure is set for a comprehensive upgrade by the end of 2025, with an expected increase of over 1 million square meters in commercial space, driven by projects like the renovation of Tianhe City [1][6]. - The city is implementing policies to stimulate high-quality development in commercial areas, aiming to create a balanced and functional network of shopping districts by 2035 [5][6].

Group 1 - AEON Guangzhou Tianhe City store will withdraw in June, causing concerns among local residents about shopping options [1] - Guangzhou Tower Square is planning to introduce AEON as a key store, aiming to establish the first SM+ AEON boutique supermarket in Haizhu [1] - Construction is ongoing at the basement level of Guangzhou Tower Square for the new AEON supermarket, which is expected to enhance shopping experiences for residents [1] Group 2 - AEON plans to open 8 new stores in Guangdong by 2025, with 5 stores set to open between April and June in Guangzhou, Foshan, and Shenzhen [2] - The new stores include the first in Guangzhou's Liwan District and Shenzhen's Longgang District, with the Guangzhou Hengbao Plaza store scheduled to open in late May 2025 [2] - By the end of June 2025, the total number of AEON stores in Guangdong is expected to reach 38, with an additional 3 stores planned for the second half of the year [2]

Core Viewpoint - AEON's first comprehensive department store in mainland China, located in Guangzhou Tianhe City, is set to close in June 2023 due to a renovation plan that will see Yonghui Supermarket replace it [2][12][20]. Company Overview - AEON Tianhe City store opened in July 1996 and has been operational for nearly 29 years [5][13]. - AEON currently operates 16 other stores in Guangzhou and has a total of 40 stores in Guangdong, including 21 comprehensive department stores and 19 supermarkets [21][23]. Market Dynamics - The closure is attributed to the mismatch between rental costs and revenue, as AEON's brand appeal and product competitiveness have declined over time [20]. - AEON's revenue from its mainland operations has been on a downward trend since 2018, with a reported revenue of HKD 4.339 billion in 2024, down 4.68% year-on-year, and an operating loss of HKD 65.856 million [23]. Competitive Landscape - Yonghui Supermarket will take over the space vacated by AEON, launching a new store format that focuses on optimizing product structure and enhancing the shopping environment [25][27]. - Yonghui's new store is expected to feature a product structure similar to that of its successful "Pang Dong Lai" format, with a significant increase in ready-to-eat products and a focus on customer service enhancements [25][26]. Future Plans - Despite the closure of the Tianhe City store, AEON plans to open eight new stores in Guangdong in 2023, indicating a strategy to expand its footprint despite challenges [21][23].

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。 AEON STORES (HONG KONG) CO., LIMITED 永 旺 ( 香 港 )百 貨 有 限 公 司 有關租賃協議須待業主簽署。當業主簽署租賃協議後，租賃協議將對業主及本公司具有 法律約束力。 根據香港財務報告準則第 16 號，本公司訂立租賃協議將令本集團須確認該處所為使用 權資產。故此，根據上市規則，訂立租賃協議將被視為本集團收購資產。本集團根據租 賃協議所確認之使用權資產價值約為港幣 5.2 百萬元。 由於按租賃協議項下擬進行的交易，本集團根據香港財務報告準則第 16 號確認之使用 權資產的價值計算，其最高適用百分比率（定義見上市規則）為 5%或以上，但低於 25%，訂立租賃協議構成本公司一項須予披露交易，並須遵守上市規則第 14 章項下通知 及公告規定，惟獲豁免股東批准規定。 緒言 董事會欣然宣佈，於 2025 年 4 月 30 日，本公司（作為承租人）就續租該處所簽訂租賃協 ...

(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 ...