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 截至月份: 2025年12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: 安莉芳控股有限公司 呈交日期: 2026年1月6日 I. 法定/註冊股本變動 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01388 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 422,416,638 | | 0 | | 422,416,638 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 422,416,638 | | 0 | | 422,416,638 | 第 2 頁 共 10 頁 v 1.1.1 III.已發行股份及/或庫 ...

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 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 安莉芳控股有限公司 呈交日期: 2025年12月3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) | 01388 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | 本月底法定/註冊股本總額： HKD 10,00 ...

Investment Rating - The report maintains a positive investment rating for the restaurant supply chain sector, suggesting increased attention due to signs of demand recovery and growth potential for quality companies [2][38]. Core Insights - The restaurant supply chain sector is experiencing a shift where companies are transitioning from being mere supporters to active drivers of innovation and demand, highlighting the importance of R&D and innovation capabilities [10][22]. - The industry is witnessing a structural opportunity as the chain restaurant rate continues to rise, with expectations for further growth in the coming years [18][10]. - Current valuations in the sector are at historically low levels, indicating potential for recovery as demand improves [30][34]. - The report emphasizes the importance of mergers and acquisitions as companies seek to enhance their competitive positions and bind key customers [22][24]. Summary by Sections Industry Status - Overall demand in the restaurant sector remains weak, but signs of recovery are evident, particularly during holiday periods [10][11]. - The restaurant supply chain industry is projected to maintain a compound annual growth rate of over 15% in the next three years, outperforming the broader restaurant market [14][10]. Company Changes - Companies are increasingly focusing on R&D and innovation to meet the evolving demands of chain restaurants, which require standardized and stable supply [22][10]. - Mergers and acquisitions are being utilized to strengthen customer relationships and enhance resource capabilities [24][22]. - New retail channels are being explored to drive growth, with companies expanding into high-end and online markets [25][10]. Valuation Analysis - The current valuation of the sector is below the 20th percentile of the past decade, suggesting significant upside potential as demand recovers [34][30]. - The report notes that the valuation decline over the past five years has been primarily due to reduced demand and high initial valuations [30][34]. Investment Recommendations - The report suggests increasing focus on specific companies such as Haidilao, Angel Yeast, and others, which are expected to benefit from demand recovery and improved operational performance [38][39].

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 截至月份: 2025年10月31日 狀態: 新提交 | 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) | 01388 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | 本月底法定/註冊股本總額： HKD 10,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公司 公司名稱: 安莉芳控股有限 ...

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 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 安莉芳控股有限公司 呈交日期: 2025年10月3日 I. 法定/註冊股本變動 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01388 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 422,416,638 | | 0 | | 422,416,638 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 422,416,638 | | 0 | | 422,416,638 | 第 2 頁 共 10 頁 v 1.1.1 III.已發行股份及/或庫 ...

Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 604,528,000, a decrease of 4.3% compared to HKD 631,392,000 for the same period in 2024[9] - Gross profit for the same period was HKD 442,309,000, down 7.5% from HKD 478,324,000 in 2024[9] - The company reported a loss before tax of HKD 54,157,000, an improvement from a loss of HKD 99,269,000 in the previous year, indicating a 45.5% reduction in losses[9] - Basic and diluted loss per share for the period was HKD 13.72, compared to HKD 19.47 in 2024, reflecting a 29.1% improvement[9] - The company experienced a net loss of HKD 57,959,000 for the period, which is an improvement from a net loss of HKD 82,235,000 in 2024[10] - Other comprehensive income for the period was HKD 62,817,000, compared to a loss of HKD 43,311,000 in the previous year[10] - The company reported a net cash outflow from operating activities of HKD 18,939,000 for the six months ended June 30, 2025, compared to a cash inflow of HKD 9,161,000 for the same period in 2024[15] - The company incurred a loss of HKD 57,959,000 during the six months ended June 30, 2025, compared to a loss of HKD 82,235,000 for the same period in 2024[13][14] - The basic loss per share for the six months ended June 30, 2025, was HKD (57,959,000), compared to HKD (82,235,000) for the same period in 2024, indicating an improvement in performance[35] Assets and Liabilities - Total assets as of June 30, 2025, amounted to HKD 2,042,574,000, an increase from HKD 1,949,513,000 at the end of 2024[11] - Cash and cash equivalents increased to HKD 212,742,000 from HKD 163,434,000, representing a growth of 30.1%[11] - The company’s non-current assets totaled HKD 1,653,224,000, a slight increase from HKD 1,634,025,000 at the end of 2024[11] - Non-current liabilities increased to HKD 315,164,000 in June 2025 from HKD 226,961,000 in December 2024, representing an increase of 39%[12] - The company's net asset value remained stable at HKD 1,727,410,000 as of June 30, 2025, compared to HKD 1,722,552,000 in December 2024[12] - The total equity of the company as of June 30, 2025, was HKD 1,727,410,000, slightly up from HKD 1,722,552,000 in December 2024[12] - The total interest-bearing bank and other borrowings as of June 30, 2025, amounted to HKD 402,561,000, an increase from HKD 323,253,000 at the end of 2024[42] - Other payables as of June 30, 2025, were HKD 51,890,000, compared to HKD 46,992,000 at the end of 2024, indicating a rise in liabilities[43] Revenue Breakdown - Total revenue from customer contracts for the six months ended June 30, 2025, was HKD 604,528,000, a decrease of 4.3% compared to HKD 631,392,000 for the same period in 2024[21] - Revenue from online sales and wholesale increased to HKD 250,931,000, up 6.0% from HKD 235,548,000 in the previous year[22] - Revenue from the brand "Anlifang" rose to HKD 391,105,000, a slight increase of 1.5% from HKD 385,168,000 in 2024[22] - Revenue from ODM products significantly increased to HKD 7,234,000, compared to HKD 2,525,000 in the previous year, marking a growth of 186.5%[22] - The flagship brand, Anlifang, accounted for 64.7% of total revenue, with sales of HKD 391,105,000, reflecting a growth of 1.5% compared to the previous period[62] Market and Economic Context - The Chinese GDP grew by 5.3% year-on-year in the first half of 2025, indicating a stable economic performance despite challenges[51] - Retail sales of consumer goods increased by 5.0% year-on-year, with retail sales of clothing, shoes, and textiles growing only by 3.1%, highlighting a disparity in consumption growth[51] - The group reported a significant decline in retail sales, with retail revenue of HKD 346,363,000, down 11.9% from the previous period, primarily due to a weak physical retail environment[61] - The group’s sales from the mainland China market were HKD 582,494,000, representing 96.4% of total revenue, highlighting its reliance on this key market[61] Strategic Initiatives - The group continues to leverage a multi-brand strategy, adjusting marketing arrangements for seven brands to meet market demands[53] - The group has partnered with celebrity spokesperson Song Yi to enhance brand recognition and attract younger consumers, effectively increasing brand exposure and sales[53] - The group has implemented a strategy to enhance brand competitiveness and market share while solidifying the flagship brand's contribution to sales[53] - The group plans to enhance online product development and strengthen partnerships with low-carbon suppliers to meet consumer demand for quality and sustainable products[76] - The company aims to leverage e-commerce growth opportunities and strengthen operations on social media and e-commerce platforms to enhance brand influence[77] - The group will continue to optimize business strategies and maintain a flexible multi-brand approach to adapt to market changes[77] Corporate Governance and Shareholder Information - The board has decided not to declare an interim dividend due to the uncertain economic outlook, prioritizing cash retention for long-term financial strength[52] - The company has complied with all applicable provisions of the corporate governance code during the period[94] - The independent auditor did not identify any matters that would lead to a belief that the financial statements were not prepared in accordance with Hong Kong Accounting Standards[99] - As of June 30, 2025, the company has a total of 104,385,001 ordinary shares held by Ms. Yue Mingzhu, representing 24.71% of the issued share capital[79] - Ms. Zheng Bihua holds 60,087,577 ordinary shares, accounting for 14.22% of the issued share capital[79] - The company has a total of 24,921,663 stock options available for grant as of January 1, 2025, increasing to 26,351,663 by June 30, 2025[84] - The company has disclosed that there are no other arrangements for directors to acquire shares or bonds during the reporting period[83]

Group 1 - Toronto-Dominion Bank has appointed Taylan Turan as Chief Operating Officer, effective September 29, 2023, who previously held a senior position at HSBC [3][5] - Simon Fish will join as General Counsel on September 15, 2023, coming from the Bank of Montreal [4] - The leadership changes are part of a strategic shift ahead of the investor day on September 29, where the new strategic direction will be announced [6] Group 2 - The bank has not traditionally had a COO, with the current CEO Raymond Chun having held the role temporarily before his appointment [5] - Paul Whitehead has been promoted to be Turan's deputy, starting December 1, 2023, focusing on client and colleague experience and marketing [5] - The management changes are aimed at enhancing "disciplined execution and client experience leadership" according to CEO Chun [6]

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 | 2025年8月31日 | | --- | | 截至月份: 狀態: 新提交 | 致：香港交易及結算所有限公司 公司名稱: 安莉芳控股有限公司 呈交日期: 2025年9月3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) | 01388 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.01 | HKD | | 10,0 ...

Core Insights - Anlifang Holdings (01388.HK) reported a revenue of HKD 604,528,000 for the six months ending June 30, 2025, compared to HKD 631,392,000 in 2024 [1] - The company experienced a reduction in property fair value changes and other asset impairments, leading to a narrowed loss attributable to shareholders of approximately HKD 57,959,000, down from HKD 82,235,000 in the previous period [1] - The loss per share improved to HKD 0.1372 from HKD 0.1947 in 2024 [1]

Core Viewpoint - Anlifang Holdings (01388) reported a revenue of HKD 605 million for the six months ending June 30, 2025, representing a year-on-year decrease of 4.25%. The loss attributable to shareholders narrowed to HKD 57.95 million, a reduction of 29.52% compared to the previous year, with a basic loss per share of HKD 0.1372 [1] Group 1 - In the first half of 2025, the domestic online consumption penetration rate stabilized, and the overall e-commerce market maintained steady growth. The flow channels underwent structural changes, shifting from "shelf e-commerce" to "content e-commerce" [1] - The company upgraded its e-commerce operation system, focusing on producing quality content and enhancing brand exposure across major platforms. It also established a comprehensive social media traffic matrix to respond to trends in real-time and collaborated deeply with key opinion leaders to connect with target customers through interactive content [1] - The sales revenue from the e-commerce channel increased by 7.6% year-on-year, accounting for 39% of the total revenue, with significant contributions from content-driven e-commerce models such as Douyin and video live streaming [1] Group 2 - The company capitalized on the online consumption trend by intensifying efforts to develop the online shopping market while strategically closing offline stores to improve the overall operational efficiency of the sales network. This adjustment aimed to achieve optimal channel coverage [2] - As of June 30, 2025, the company had a total of 761 retail points, with 629 sales counters and 132 specialty stores, reflecting a net decrease of 50 points compared to the end of 2024 [2] - In the first half of 2025, the company was granted three invention patents, six utility model patents, and two design patents in China. As of June 30, 2025, the company held a total of 145 patents, including 16 invention patents, 85 utility model patents, and 44 design patents [2]