Group 1: Collaboration and Design - Lilang's LESS IS MORE collaborates with designer Xander Zhou to launch the "From Stone to Structure" collection in Shanghai, showcasing a dialogue between tradition and modernity [1] - The collection draws inspiration from the previous season's stone architecture and modern geometric structures, presented in a minimalist white space that reflects various lifestyle scenarios [1] - Zhou emphasizes a "relaxed ceremony" in his design philosophy, creating a wardrobe that balances rationality and fashion, complemented by functional accessories for modern urban men [1] Group 2: Brand Anniversaries and Special Releases - Diesel celebrates its 20th anniversary in China by launching a limited capsule collection designed by creative director Glenn Martens, featuring high-quality leather and innovative fabrics [5] - The collection includes a standout patchwork jacket that combines vintage cotton and bleached denim, embodying Diesel's rebellious spirit [5] Group 3: Retail and Aesthetic Experience - ZONA20 MILANO opens a pop-up space in Shanghai, integrating Milan's quiet luxury and sustainable concepts into a serene environment for urban consumers [7] - The pop-up space is inspired by Bauhaus architecture, balancing order and growth through geometric cuts and natural elements [7] Group 4: Art and Design Exhibitions - Marimekko announces a limited exhibition "Floral Realm" in Shanghai, celebrating its annual theme "Structure of Flowers" with new floral print designs from five artists [9] - The exhibition features various formats, including hanging fabrics and limited products, allowing visitors to experience the unique blend of print art and architectural space [9] Group 5: New Store Openings - MACKAGE opens a boutique in Shanghai's Xinyi Taikoo Hui, showcasing a design that reflects the brand's aesthetic and craftsmanship through diamond quilting and green tones [14] - The 2025 Fall/Winter collection continues the theme of combining practical aesthetics with modern luxury, using high-quality materials to meet global consumer demands [14] Group 6: Celebrations and Collaborations - LABELHOOD participates in a pop-up event at the 40th anniversary of the Hyundai Department Store in Seoul, featuring a diverse range of Chinese design brands [17] - The event highlights the multifaceted nature of new-generation Chinese design through collaborations with various brands [17] Group 7: Brand Advertising - Balenciaga releases its first advertising campaign under creative director Pierpaolo Piccioli, shot by photographer David Sims in a historic Parisian setting [20] - The campaign aims to evoke a new feminine image that combines strength and delicacy, while also reintroducing classic brand symbols [20]

Company News - China Coal Energy (01898.HK) reported a coal sales volume of approximately 190 million tons for the first nine months, a year-on-year decrease of 7.4%. In September, coal sales volume was 19.66 million tons, down 20.1% year-on-year [1] - China Southern Airlines (01055.HK) saw a 4.43% year-on-year increase in passenger capacity in September, with passenger turnover rising by 5.25%. The passenger load factor was 86.30%, an increase of 0.67 percentage points year-on-year. Cargo and mail turnover increased by 1.91% year-on-year [1] - China Eastern Airlines (00670.HK) reported a 3.63% year-on-year increase in passenger capacity for September, with passenger turnover up 8.67%. The passenger load factor was 87.57%, an increase of 4.06 percentage points year-on-year. Cargo and mail turnover rose by 10.95% year-on-year [1] - China Resources Power (00836.HK) achieved a cumulative electricity sales volume of 161 million MWh for the first nine months, an increase of 4.2% year-on-year, with wind power sales up 10.3% and solar power sales up 35.1% year-on-year [1] - Hopson Development Holdings (00754.HK) reported a total contract sales amount of 11.264 billion yuan for the first nine months, a year-on-year decrease of 12.62% [1] - China Design Group (01599.HK) won important project bids totaling approximately 3.175 billion yuan in the third quarter [1] - Jiumaojiu International Holdings (09922.HK) reported table turnover rates for its brands in the third quarter: 3.3 for Taier (self-operated only), 2.4 for Song Hotpot, and 2.5 for Jiumaojiu (self-operated only). Same-store average daily sales decreased by 9.3%, 19.1%, and 14.8% year-on-year, respectively, with the decline continuing to narrow [1][1] Financing and Buyback Activities - Xiaomi Group-W (01810.HK) repurchased 2 million shares for a total of approximately 98.9589 million HKD, with a repurchase price range of 49.42 to 49.54 HKD [5] - Yum China (09987.HK) repurchased 18,800 shares for approximately 6.2596 million HKD, with a repurchase price range of 330.6 to 340.2 HKD [6] - HSBC Holdings (00005.HK) repurchased 4.721 billion HKD worth of shares, totaling 4.6216 million shares, with a repurchase price range of 101.1 to 103.2 HKD [7] - Qiniu Intelligent (02567) has cornerstone investor He Shun voluntarily extend the lock-up commitment, representing approximately 3.20% of the total issued shares [8] - China Galaxy (06881.HK) completed the issuance of 4 billion HKD short-term financing bonds with a final coupon rate of 1.66%, primarily for working capital replenishment [8] - Huaneng International Power (00902.HK) issued 3 billion HKD ultra-short-term financing bonds with an issuance rate of 1.50% [9]

Core Viewpoint - China Lilang (01234) experienced a stock price increase of over 3% in the afternoon, closing at HKD 3.43, with a trading volume of HKD 4.367 million. The company announced a low double-digit growth in retail sales for its "LILANZ" products in Q3 2025 compared to the same period in 2024, driven by a new retail strategy focusing on e-commerce and upgraded retail management systems [1][1][1]. Group 1 - The stock price of China Lilang rose by 2.39% to HKD 3.43, with a trading volume of HKD 4.367 million [1][1][1]. - The company reported a low double-digit increase in retail sales for "LILANZ" products in Q3 2025 compared to Q3 2024 [1][1][1]. - The new retail strategy includes transforming e-commerce platforms into retail channels for new products and enhancing the integration of online and offline sales [1][1][1]. Group 2 - Huaxi Securities noted that the new retail strategy is expected to contribute to rapid growth for the company this year [1][1][1]. - The company is focusing on strengthening its presence across major e-commerce platforms and upgrading its retail management systems [1][1][1].

Core Viewpoint - China Lilang (01234) has seen its stock price increase by over 3%, currently up 2.39% at HKD 3.43, with a trading volume of HKD 4.367 million [1] Group 1: Financial Performance - The retail value of "LILANZ" products for Q3 2025 is expected to show a low double-digit percentage increase compared to the same period in 2024 [1] Group 2: Strategic Initiatives - The company is implementing a new retail strategy, transforming its e-commerce platform from a stock clearance channel to a retail channel that supports new products [1] - China Lilang is enhancing its presence across major e-commerce platforms and is fully upgrading its retail management system to achieve seamless integration between online and offline sales [1] - The new retail business is anticipated to continue contributing to rapid growth for the company this year [1]

消息面上，中国利郎午间发布公告，2025年第三季度"LILANZ"产品的零售金额(按零售价值计算)，与 2024年同期比较取得低双位数升幅。华西证券（002926）此前指出，公司推行全新的新零售战略，将电 商平台从库存清理渠道转型为助攻新品的零售渠道，加强各大电商平台布局，并全面升级零售管理系 统，实现线上线下（300959）无缝对接，新零售业务今年有望持续为公司贡献高速增长。 中国利郎(01234)午后一度涨超3%，截至发稿，涨2.39%，报3.43港元，成交额436.7万港元。 ...

Core Viewpoint - The company LILANZ reported a low double-digit increase in retail sales value for its products in the third quarter of 2025 compared to the same period in 2024 [1] Group 1 - The retail sales amount for LILANZ products is calculated based on retail value [1]

Core Viewpoint - The company LILANZ (01234) announced that the retail value of its products for the third quarter of 2025 is expected to achieve a low double-digit percentage increase compared to the same period in 2024 [1] Group 1 - The retail amount of LILANZ products is measured based on retail value [1] - The growth is projected to be in the low double-digit range [1]

二零二五年第三季度最新營運表現 本公告乃中國利郎有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事會（「董事 會」）自願發出，以提供本集團近期之營運表現。 零售表現 二零二五年第三季度「LILANZ」產品之零售金額（按零售價值計算），與二零二四年同期比 較錄得低雙位數升幅。 香港交易及結算所有限公司以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，概不會就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 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號： 1234） 零售表現數據並不直接構成、代表或表示本集團之收入或財務表現之全面情況。 本公告乃根據董事會初步審閱本集團之未經審核營運數據初稿及董事會現時可獲得資料 後作出，並非以本公司核數師審核或審閱後的數據或資料為基礎，本公告內的資料亦可 能會被修改及調整。故此，本公司股東及潛在投資者於買賣本公司股份時務請審慎行 事。 承董事會命 中國利郎有限公司 主席 王冬星 香港，二零二五年十月十五日 於本公告日期，執行董事為王良星先生、王聰星先生、潘榮彬 ...

Core Insights - The article highlights the top short-selling ratios and amounts for various companies, indicating significant market sentiment against these stocks [1][2]. Short-Selling Ratios - Anta Sports-R (82020), Li Ning-R (82331), and Great Wall Motors-R (82333) have the highest short-selling ratios at 100.00% [1][2]. - AIA Group-R (81299) follows with a short-selling ratio of 99.20%, while China Resources Beer-R (80291) has a ratio of 94.83% [2]. Short-Selling Amounts - Alibaba-SW (09988) leads in short-selling amount with 3.717 billion, followed by Xiaomi Group-W (01810) at 2.634 billion and Tencent Holdings (00700) at 2.457 billion [1][2]. - Other notable companies include SMIC (00981) with 2.219 billion and BYD Company (01211) with 1.342 billion [2]. Deviation Values - Tencent Holdings-R (80700) has the highest deviation value at 44.97%, indicating a significant difference from its average short-selling ratio [1][2]. - Great Wall Motors-R (82333) and China Lilang (01234) follow with deviation values of 31.15% and 26.81%, respectively [2].

Summary of Key Points Core Viewpoint - The report highlights the short-selling ratios and amounts for various companies, indicating significant market sentiment and potential investment opportunities or risks associated with these stocks [1][2]. Group 1: Short-Selling Ratios - Anta Sports-R (82020) and Great Wall Motors-R (82333) have the highest short-selling ratios at 100.00% [1][2]. - Tencent Holdings-R (80700) follows closely with a short-selling ratio of 95.69% [1][2]. - Other notable companies with high short-selling ratios include JD Group-SWR (89618) at 94.72% and Bank of China Hong Kong-R (82388) at 77.81% [2]. Group 2: Short-Selling Amounts - Alibaba-SW (09988) leads in short-selling amount with 3.213 billion [2]. - Xiaomi Group-W (01810) and Tencent Holdings (00700) follow with short-selling amounts of 1.740 billion and 1.605 billion, respectively [2]. - Other companies in the top short-selling amounts include Pop Mart (09992) at 1.290 billion and Baidu Group-SW (09888) at 1.044 billion [2]. Group 3: Deviation Values - Tencent Holdings-R (80700) has the highest deviation value at 47.78%, indicating a significant difference from its average short-selling ratio over the past 30 days [1][2]. - JD Group-SWR (89618) and China Lilang (01234) also show high deviation values of 45.61% and 44.19%, respectively [1][2]. - Other companies with notable deviation values include Great Wall Motors-R (82333) at 34.51% and SenseTime-WR (80020) at 34.02% [2].