致：香港交易及結算所有限公司 公司名稱: KNT Holdings Limited 嘉藝控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 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) | 01025 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.2 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 500,000,000 | HKD | | 0.2 HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 100,000,000 第 1 頁 共 10 頁 v 1.1.1 股份發行人及 ...

Core Insights - The newly opened Wumei Supermarket "Fat Transformation Store" in Wuzhong has attracted over 100,000 visitors within just three days of its opening, significantly exceeding the average foot traffic for new stores in the industry [1][2]. Group 1: Store Features and Offerings - The "Fat Transformation Store" has undergone comprehensive upgrades in product structure, quality, pricing, employee benefits, and store environment [2]. - It introduces products from the well-known brand "Fat Donglai," offering daily fresh baked goods, ready-to-eat meals, and on-site tastings [2]. - The store implements a daily freshness policy for certain categories, similar to "Fat Donglai," and provides 21 free services, including customer rest areas, free tea, emergency medicines, and pet storage [2]. Group 2: Market Impact - The success of the "Fat Transformation Store" is seen as a revitalizing force for the physical retail sector, especially as traditional supermarkets face declining foot traffic and sluggish consumer spending [2].

Core Insights - The opening of the first "Fat Reform Store" by Wumart in Nankai District, Tianjin, highlights a shift towards localized and quality-focused retail strategies [2][4] - The store utilizes data-driven and AI technology for precise matching of "people, goods, and space," enhancing operational efficiency [4] - The Haiguang Mall, which houses the Wumart store, aims to be a community lifestyle hub, featuring a variety of dining, service, and entertainment brands to meet one-stop shopping needs [4] Company Strategy - Wumart's "Fat Reform" initiative involves systematic upgrades in product structure, quality control, service experience, and employee welfare [4] - The store's intelligent operations include selection, replenishment, inspection, and cold chain management, indicating a strong focus on technology integration [4] Market Potential - Haiguang Mall is strategically located near residential areas and office buildings, indicating significant consumer potential within a 3-kilometer radius [4] - The local government is promoting "first-store economy" to drive commercial updates and consumption upgrades, transitioning from traditional retail to experiential, digital, and high-quality formats [4]

Group 1 - The Hong Kong banking sector is experiencing a strong performance, with the Hong Kong Bank LOF (501025) rising over 2% in the afternoon session, and a cumulative increase of 24.62% year-to-date [1][2] - Long-term funds, particularly from insurance companies, are increasingly investing in the banking sector, with their holdings reaching 28.24% by Q2 2025, an increase of 1.04 percentage points [1] - The China Securities Regulatory Commission aims for large state-owned insurance companies to allocate 30% of new premiums to A-shares annually, potentially bringing over 160 billion yuan in incremental funds to banks each year [1] Group 2 - CITIC Securities believes that the banking sector is undergoing a revaluation of net assets, which will enhance the value of bank stocks for institutional investors in the medium term [2] - The HK Bank Index (930792) has risen by 2.06%, with major banks like Agricultural Bank and China Construction Bank seeing increases of over 3% [2] - The Hong Kong Bank LOF provides a convenient way to invest in Hong Kong banking stocks, allowing investors to share in the growth of the banking industry [2]

Core Viewpoint - The Hong Kong banking sector has shown strong performance recently, driven by capital inflows from long-term investors, particularly insurance funds, which are increasingly allocating resources to bank stocks [1][2]. Group 1: Market Performance - The Hong Kong banking LOF (501025) saw an intraday increase of over 1%, with a year-to-date cumulative rise of 24.62% [1]. - Over the past six months, the fund has outperformed the benchmark with an annualized return of 4.18%, ranking first among bank products in the market [1]. - The HK banking index (930792) rose by 1.30%, with major banks like Agricultural Bank, Construction Bank, and Bank of China increasing by over 1.5% [2]. Group 2: Investment Trends - As of Q2 2025, insurance companies' holdings in the banking sector reached 28.24%, a quarter-on-quarter increase of 1.04 percentage points, with a market value of 6.5% of circulating A-shares [1]. - Insurance funds have been actively increasing their stakes in H-shares, with 11 instances of shareholding increases in listed banks this year, 10 of which were in H-shares [2]. - The investment strategy of insurance funds is supported by regulatory changes, allowing for a higher proportion of equity investments, which is expected to bring over 160 billion yuan in incremental funds to banks annually [2]. Group 3: Dividend and Stability - The banking sector is characterized by high dividend yields and low volatility, making it attractive for long-term investors seeking stable returns [1][2]. - The sector's valuation remains low, and its consistent dividend payouts align with the risk-averse nature of insurance funds, which prioritize stable income and long-term assessments [2].

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 本月底法定/註冊股本總額： HKD 100,000,000 第 1 頁 共 10 頁 v 1.1.1 FF301 截至月份: 2025年8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: KNT Holdings Limited 嘉藝控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2025年9月2日 I. 法定/註冊股本變動 | 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) | 01025 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | 0.2 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 ...

Group 1 - The first "fat reform store" of Wumart Supermarket, located near Jishuitan subway station, has reopened with 70% of its 11,000 products being newly refreshed [1][3] - On the opening day, the customer flow at Wumart Supermarket's Xinjiekou store exceeded 10,000 [1] - The store has increased the area for ready-to-eat food, introducing nearly 600 new products in the cooked food and baking sections, significantly raising the proportion of freshly made items [3] Group 2 - The number of employees at the store has nearly doubled compared to before, contributing to job creation [3] - Other "fat reform stores" in Beijing, such as Xueqing Road, Daxing Huangcun, Huamao, and Tiantongyuan, have seen daily customer flow and sales increase by 50% to 300% after their renovations [3] - The Xinjiekou store aims to meet the diverse shopping needs of nearby high-density residential communities and single white-collar workers through a comprehensive refresh of product structure and services [3]

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 會 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。 KNT HOLDINGS LIMITED* （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 所得款項用途變更 茲提述嘉藝控股有限公司（「本公司」）所刊發日期為二零二五年三月三日的供 股 章 程，內 容 有 關 建 議 按 於 記 錄 日 期 每 持 有 一(1)股股份獲發三(3)股供股股份 的基準進行供股（「供 股」）（「供股章程」）。除 非 另 有 界 定，否 則 本 公 告 所 採 用 的 詞 彙 與 供 股 章 程 所 界 定 者 具 有 相 同 涵 義。 董 事 會 謹 此 宣 佈，經 仔 細 考 慮 及 詳 細 評 估 本 集 團 的 營 運 及 業 務 策 略 後，董 事 會 已議決按下列方式變更供股所得款項淨額（「所得款項淨額」）中尚未動用部分 的 用 途。 所得款項用途變更 所得款項淨額約為41,600,000港 ...

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。 KNT HOLDINGS LIMITED* （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 於二零二五年八月二十二日（星 期 五）舉行的股東週年大會的 投票表決結果 於嘉藝控股有限公司（「本公司」）在二零二五年八月二十二日（星 期 五）舉行的股 東週年大會（「股東週年大會」）上，所 有 列 載 於 日 期 為 二 零 二 五 年 七 月 二 十 五 日 的 股 東 週 年 大 會 通 告 內 的 建 議 決 議 案 均 以 投 票 方 式 表 決。投 票 表 決 結 果 如 下： | | | | | | | | | 普通決議案 | | | | | | | | 票 | 數(%) | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Core Viewpoint - The article discusses how discount stores manipulate consumer behavior through pricing strategies and store layouts, effectively transforming shoppers into efficient purchasing machines, while also raising questions about consumer autonomy in decision-making [4][5][16]. Group 1: Consumer Behavior Manipulation - Discount stores attract consumers with extreme low prices, creating a sense of trust and dependency [5]. - The use of cardboard shelves not only reduces operational costs but also creates a "warehouse" pressure that aligns with consumers' desire to save money during economic downturns [5][19]. - Consumers' shopping behavior is subtly influenced by store layouts, guiding them through a predetermined path that encourages quicker purchasing decisions [9][10]. Group 2: Limited Choices and Decision Simplification - Discount stores often limit the number of SKUs (Stock Keeping Units) to between 1,000 and 2,000, focusing on high-purchase-rate items, which reduces consumer choice and simplifies decision-making [10]. - The reduction in product variety leads to a phenomenon where 73% of consumers will opt for the cheapest available option when familiar brands are unavailable [10][15]. - Consumers experience increased indecision when returning to standard supermarkets, with hesitation times increasing by 2.8 times and a 37% decrease in price tolerance for non-discount items [15]. Group 3: Psychological Implications of Discount Shopping - The article questions whether the perceived self-discipline in frugal shopping is genuinely self-imposed or a result of external manipulation by discount stores [16]. - The hard discount model effectively recovers decision-making power from consumers while making them feel they are benefiting from the low prices [16][17]. - The article emphasizes that true freedom in consumer choice involves not just the content of purchases but also the breadth and quality of options available [19].