Core Viewpoint - The new consumption concept stocks in the Hong Kong market are experiencing a general rise, indicating positive market sentiment towards this sector [2] Group 1: Stock Performance - Pop Mart (09992.HK) increased by 7.82%, reaching HKD 220.6 [2] - Aosheng Holdings (02145.HK) rose by 4.55%, trading at HKD 88.45 [2] - Blucoco (00325.HK) saw a gain of 4.43%, priced at HKD 75.4 [2] - Miniso (09896.HK) climbed by 3.83%, with a share price of HKD 39.6 [2] - Mao Geping (01318.HK) increased by 3.25%, now at HKD 92.05 [2]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Insights - The company has launched a restricted stock incentive plan to enhance its long-term development confidence and align the interests of shareholders, the company, and management [1] - The company's performance has been strong, with a 31.3% year-on-year increase in revenue to 2.59 billion yuan and a 36.1% increase in net profit to 670 million yuan in the first half of 2025 [2] - The company is focusing on high-end beauty positioning, expanding its product range into fragrances, and has seen significant growth in both online and offline channels [3] Summary by Sections Company Performance - In the first half of 2025, the company achieved revenue of 2.59 billion yuan, a 31.3% increase year-on-year, and a net profit of 670 million yuan, up 36.1% [2] - Sales on major platforms during the "Double Eleven" shopping festival showed strong growth, with year-on-year increases of 60.5% on Taobao, 39.8% on Douyin, and 22.3% on JD [2] Product and Market Strategy - The company is enhancing its high-end beauty positioning and has expanded its product categories to include fragrances, with successful product launches in various high-end department stores [3] - The product matrix has been enriched with new series such as Guo Yun Ning Xiang and Wen Dao Dong Fang [3] Financial Forecast - The company forecasts net profits of 1.21 billion yuan, 1.58 billion yuan, and 2.04 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 2.46 yuan, 3.22 yuan, and 4.16 yuan [3][10] - The current stock price corresponds to a PE ratio of 34, 26, and 20 for the years 2025, 2026, and 2027 respectively [3][10]

Core Viewpoint - The company is implementing a restricted stock incentive plan to enhance its long-term incentive mechanism, aiming to align the interests of shareholders, the company, and management for sustainable development [1] Group 1: Sales Performance - During the 2025 Double Eleven shopping festival, the company entered the sales Top 20 list for the first time, indicating strong performance [1] - The company’s product categories, particularly in cosmetics, showed good growth momentum, with popular items like caviar cushion foundation and air lip glaze performing well [1] - The skincare segment, especially the caviar series, has significant growth potential, and the launch of 13 new perfumes in May has resulted in several best-selling products [1] Group 2: Customer Loyalty and Repurchase Rate - As of the first half of 2025, the company has 405 self-operated counters and 32 distributor counters, employing over 3,100 beauty consultants to enhance brand visibility [2] - The total number of registered members in the online and offline loyalty programs reached approximately 13.4 million and 5.6 million, respectively, with an overall repurchase rate of 26.8%, up by 2 percentage points year-on-year [2] - The main brand, MAOGEPING, ranked first in repurchase rate in the beauty and cosmetics category on the Douyin platform, reflecting increasing consumer loyalty [2] Group 3: Profit Forecast and Rating - Based on strong sales performance across online and offline channels, the company forecasts net profits of 1.21 billion, 1.58 billion, and 2.03 billion yuan for 2025-2027, representing year-on-year growth of 38%, 30%, and 28% respectively [2] - The company is recognized as a high-end cosmetics brand with a unique founder IP that enhances brand value, and it is expected to continue growing steadily in both skincare and cosmetics categories [2] - The company maintains a "buy" rating due to its brand value, channel advantages, and potential for future growth [2]

MAO GEPING COSMETICS CO., LTD. 毛戈平化妝品股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1318） 2025年12月4日（星期四）舉行之2025年第二次臨時股東會 及其任何續會之代表委任表格 本人╱ 吾等 （附註1） 地址為 （附註2） 為 毛 戈 平 化 妝 品 股 份 有 限 公 司（「本公司」）股 本 中 每 股 面 值 人 民 幣 0.50 元的非上市 股份╱ H股 股 （附註3） 的登記持有人， 茲委任股東會主席 （附註4及5） 或 （姓名） 地址為 為本人╱ 吾等的代表，代表本人╱ 吾等出席本公司訂於2025年12月4日（星期四）下午二時正假座 中國浙江省杭州市上城區萬銀大廈10樓1號會議室舉行之2025年第二次臨時股東會（「臨時股東 會」）及其任何續會，並在臨時股東會及其任何續會上代表本人╱ 吾等投票及行使法律、法規及 本公司公司章程賦予代表的一切權利。本人╱ 吾等希望本人╱ 吾等的代表按以下指示就將於臨 時股東會上提呈的決議案投票。 | | 特別決議案 | 贊成 | 反對 | 棄權 | | --- | --- | --- | --- | ...

MAO GEPING COSMETICS CO., LTD. 毛戈平化妝品股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 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分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 份 代 號：1318） 2025年第二次臨時股東大會通告 茲通告 毛 戈 平 化 妝 品 股 份 有 限 公 司（「本公司」）將 於2025年12月4日（星 期 四）下 午 二 時 正 假 座 中 國 浙 江 省 杭 州 市 上 城 區 萬 銀 大 廈10樓1號會議室舉 行2025年 第 二 次 臨 時 股 東 會（「臨時股東會」），以 考 慮 並 酌 情 通 過 下 列 決 議 案： 特別決議案 承董事會命 毛戈平化妝品股份有限公司 董事長兼執行董事 毛戈平 香 港，2025年11月17日 – 1 – 1. 審 議 及 批 准 建 議 採 納 限 制 性 股 票 ...

此乃要件 請即處理 閣下對本通函或應採取之行動如有任何疑問，應諮詢 閣下之股票經紀或其他註冊證券商、銀行 經理、律師、專業會計師或其他專業顧問。 閣下如已出售或轉讓名下所有毛戈平化妝品股份有限公司的股份，應立即將本通函連同隨附之代 表委任表格送交買主或承讓人或經手買賣或轉讓的銀行、股票經紀或其他代理商，以便轉交買主 或承讓人。 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函之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不會就因本通函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。 MAO GEPING COSMETICS CO., LTD. 毛戈平化妝品股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1318） (1) 建議採納限制性股票單位激勵計劃； (2) 建議授權董事會及/或其授權人士 處理與限制性股票單位激勵計劃相關的所有事宜； (3)建議採納限制性股票單位激勵計劃考核實施辦法； 及 (4) 2025年第二次臨時股東會通告 董事會函件載於本通函第4至14頁。 本公司將於2025年12月4日（星期四）下午二時正假座中國浙江省杭 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company is implementing a restricted stock incentive plan to enhance its long-term incentive mechanism, aiming to align the interests of shareholders, the company, and management for sustainable growth [8] - The company has shown strong sales performance during the Double Eleven shopping festival, entering the sales Top 20 list for the first time, with significant growth in popular products [8] - The company is expanding its product range and increasing its SKU speed, which opens up growth opportunities in various market segments [8] - The company has seen a steady increase in repurchase rates, with a total of approximately 13.4 million online and 5.6 million offline registered members, leading to a comprehensive repurchase rate of 26.8%, up 2 percentage points year-on-year [8] - The company is expected to achieve net profits of 1.21 billion, 1.58 billion, and 2.03 billion RMB for the years 2025 to 2027, representing year-on-year growth rates of 38%, 30%, and 28% respectively [8] Financial Summary - The company's revenue is projected to grow from 2,885.96 million RMB in 2023 to 5,153.06 million RMB in 2025, with a compound annual growth rate (CAGR) of 32.65% [7] - The net profit attributable to the parent company is expected to increase from 661.9 million RMB in 2023 to 1,212.7 million RMB in 2025, with a CAGR of 37.7% [7] - The company's return on equity (ROE) is projected to remain strong, with values of 42.8% in 2023 and around 25% in the following years [7]

Core Viewpoint - The company Mao Geping (01318) announced a proposal for a restricted stock unit incentive plan for its H shares, which is set to be adopted on November 12, 2025 [1] Group 1 - The board of directors has resolved to recommend the adoption of the incentive plan [1]

Core Viewpoint - The company Mao Ge Ping (01318) announced a proposal to adopt a restricted stock unit incentive plan for its H shares, which is set to be decided by the board on November 12, 2025 [1] Group 1 - The board of directors has resolved to propose the adoption of a restricted stock unit incentive plan [1]

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分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。 MAO GEPING COSMETICS CO., LTD. 毛戈平化妝品股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：1318） 建議採納 限制性股票單位激勵計劃 毛 戈 平 化 妝 品 股 份 有 限 公 司（「本公司」或「公 司」）董 事（「董 事」）會（「董 事 會」）欣 然 宣 佈，於2025年11月12日，董 事 會 已 議 決 建 議 就 本 公 司H股採納 限制性股票單位激勵計劃（「限制性股票單位激勵計劃」）。 限制性股票單位激勵計劃 旨在進一步建立 健 全 公 司 長 效 激 勵 機 制，充 分 激 發 公 司 核 心 骨 幹 員 工 的 積 極 性，構 建 事 業 共 同 體，將 公 司 股 東（「股 東」） 利 益、公 司 利 益 和 經 營 者 個 ...