Summary of the Conference Call for Yanzhiwu Company Overview - **Company**: Yanzhiwu - **Industry**: Bird's Nest Products Key Points Revenue and Profitability - In 2025, the company achieved a total revenue of **¥20.01 billion**, a slight decrease from 2024. However, net profit increased by **19%** to **¥1.89 billion**, with a net profit margin of **9.6%** [4][16] - The overall gross margin improved from **55.7%** in 2024 to **59.3%** in 2025, primarily due to enhanced supply chain efficiency and production automation, leading to a cost reduction of **10%-20%** [2][18] - Online sales accounted for **63.5%** of total revenue, with a year-on-year growth of **2.3%** [4][7] Product Performance - The product matrix showed significant growth in fresh bird's nest (¥6.1 billion) and bottled bird's nest (¥5.1 billion), while bowl bird's nest (¥4.7 billion) saw a slight decline due to seasonal factors [2][4] - The company launched a new product, bird's nest porridge, which became a billion-yuan product and maintained the top market share in e-commerce [2][14] Consumer Demographics - The consumer base is becoming polarized, with young women around **20 years old** emerging as a core growth segment, while the **55+ age group** shows significant potential [2][9] - The penetration in lower-tier cities is increasing, with over **80%** of new distributors located in tier-three and below cities [2][9] Cost Management and Marketing Strategy - The company maintained a stable sales expense ratio in 2025, with advertising spending decreasing [5][16] - Future marketing strategies will focus on brand enhancement, product innovation, and expanding distribution channels, particularly through AI and smart manufacturing [5][20] Channel Development - The company has expanded its presence in over **2000** retail terminals, focusing on instant retail and key account (KA) systems, particularly in the Pearl River Delta and Yangtze River Delta regions [3][12] - The company is also exploring new retail channels and enhancing its online presence through platforms like Douyin and Xiaohongshu [7][12] Future Outlook - The company plans to continue optimizing its sales network in first and second-tier cities while penetrating lower-tier markets [11][12] - The focus will be on product quality improvement, expanding the product matrix, and enhancing customer experience through technology [15][20] - The industry is expected to enter a new phase of standardization and globalization, with a focus on health and wellness trends [18][20] Challenges and Adjustments - The offline business faced a **9%** decline in 2025, prompting strategic adjustments to support distributors and enhance the retail experience [10][12] - The company is addressing the competitive landscape by optimizing its product offerings and enhancing customer engagement through various marketing initiatives [10][14] Conclusion - Yanzhiwu is positioned to leverage its brand strength and product innovation to capture growth opportunities in the bird's nest market, focusing on both domestic and international expansion while adapting to changing consumer preferences and market dynamics [20]

EF001 免責聲明 | 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。 | 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 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 廈門燕之屋燕窩產業股份有限公司 | | 股份代號 | 01497 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年12月31日止年度之末期股息 | | 公告日期 | 2026年3月17日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 10 股 2.66 RMB | | 股東批准日期 | 2026年5月11日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | HKD， 金額有待公佈 | | 匯率 | 有待公佈 ...

Financial Performance - Revenue decreased by 2.41% from RMB 2,050.0 million for the year ended December 31, 2024, to RMB 2,000.6 million for the year ended December 31, 2025[2]. - Gross profit increased by 5.74% from RMB 1,012.8 million for the year ended December 31, 2024, to RMB 1,070.9 million for the year ended December 31, 2025[2]. - Profit increased by 19.30% from RMB 160.4 million for the year ended December 31, 2024, to RMB 191.4 million for the year ended December 31, 2025[2]. - Operating profit rose to RMB 281.965 million in 2025 from RMB 213.563 million in 2024[3]. - Basic and diluted earnings per share increased from RMB 0.34 in 2024 to RMB 0.41 in 2025[3]. - The company reported a total comprehensive income of RMB 185.667 million for the year ended December 31, 2025, compared to RMB 174.350 million for the year ended December 31, 2024[5]. - Pre-tax profit for 2025 was RMB 275,744,000, up 33.4% from RMB 206,613,000 in 2024[23]. - The company's profit before tax for 2025 was RMB 275,744,000, an increase of 33.4% from RMB 206,613,000 in 2024[25]. - Net profit increased by 19.30% from RMB 160.4 million for the year ending December 31, 2024, to RMB 191.4 million for the year ending December 31, 2025[77]. Assets and Liabilities - Total assets decreased from RMB 1,013.515 million in 2024 to RMB 1,122.382 million in 2025[6]. - Net assets increased from RMB 768.244 million in 2024 to RMB 836.192 million in 2025[7]. - Trade receivables (net of impairment) decreased to RMB 125,877,000 in 2025 from RMB 163,656,000 in 2024, a decline of 23.1%[28]. - Trade payables decreased to RMB 59,331,000 in 2025 from RMB 66,895,000 in 2024, a reduction of 11.3%[31]. - Cash and cash equivalents increased significantly from RMB 420.508 million in 2024 to RMB 636.067 million in 2025[6]. - Current assets increased from approximately RMB 1,013.5 million as of December 31, 2024, to approximately RMB 1,122.4 million as of December 31, 2025, mainly due to an increase in cash resources[79]. Revenue Breakdown - Revenue from online sales to direct customers was RMB 931,337,000, up 2.1% from RMB 911,729,000 in 2024[19]. - Revenue from offline sales to distributors was RMB 422,275,000, down 13.1% from RMB 486,074,000 in 2024[19]. - Revenue from pure bird's nest products decreased by 1.35% from RMB 1,795.4 million in 2024 to RMB 1,771.2 million in 2025[66]. - Revenue from the sale of bird's nest products decreased by 7% from RMB 231.9 million for the year ending December 31, 2024, to RMB 215.6 million for the year ending December 31, 2025, mainly due to underperformance in promoting new bird's nest derivatives[71]. Expenses and Costs - Sales cost decreased by 10.36% from RMB 1,037.2 million in 2024 to RMB 929.7 million in 2025, attributed to improvements in production efficiency through smart manufacturing upgrades[67]. - Sales and distribution expenses decreased by 1.00% from RMB 670.8 million in 2024 to RMB 664.1 million in 2025, aligning with the revenue decline[69]. - Administrative expenses increased by 3.29% from RMB 139.3 million for the year ending December 31, 2024, to RMB 143.9 million for the year ending December 31, 2025, primarily due to the adoption of the H-share incentive plan[70]. - R&D expenses decreased by 10.63% from RMB 28.5 million for the year ending December 31, 2024, to RMB 25.5 million for the year ending December 31, 2025, attributed to optimization and streamlining of experimental programs[72]. Shareholder Information - The proposed final dividend for 2025 is RMB 0.266 per share, totaling RMB 122,810,000, compared to RMB 0.215 per share and RMB 100,083,000 in 2024[34]. - The board has proposed a final dividend of RMB 2.66 per ten shares for the year ending December 31, 2025, subject to shareholder approval at the annual general meeting[115]. - The annual general meeting is scheduled for May 11, 2026, with a record date for shareholders set on the same day[114]. - Share transfer registration will be suspended from May 6 to May 11, 2026, to determine eligibility for attending the annual general meeting[116]. - A second suspension of share transfer registration will occur from May 18 to May 21, 2026, to determine eligibility for receiving the final dividend[117]. Strategic Initiatives - The company launched multiple co-branded products, including limited editions with popular IPs, to expand market influence and reach diverse consumer groups[42]. - The company has initiated a brand ambassador strategy, appointing Zhu Yilong and Gong Li to enhance brand visibility and appeal to younger demographics[42]. - The company is actively expanding its presence in the Singapore market through advertising campaigns on public transport[43]. - The company has implemented a new retail channel strategy, integrating online and offline resources to improve customer experience and operational efficiency[46]. - The company is focusing on product innovation and channel optimization to adapt to market changes and enhance competitiveness in a challenging economic environment[41]. - The company aims to strengthen member loyalty and increase repurchase rates through exclusive events and collaborations with high-quality brands[49]. Research and Development - The company has filed 223 valid patents, including 31 invention patents, and published 67 papers related to bird's nest, enhancing its research and development capabilities[55]. - The company has initiated the drafting of the first industry standard for bird's nest nutrition, filling a gap in industry definitions, and has led the establishment of multiple national and industry standards[56]. - The company’s new product, "Supercritical Fresh Bird's Nest," was launched in June, utilizing patented technology to enhance the molecular activity of bird's nest[57]. - The company aims to leverage AI technology for innovative formula development, shortening R&D cycles and promoting rapid product launches[61]. Compliance and Governance - The company maintained compliance with the minimum public float percentage requirements throughout the year ending December 31, 2025[107]. - The company adopted the corporate governance code and complied with all applicable provisions during the year ending December 31, 2025[108]. - The audit committee, consisting of three independent non-executive directors, reviewed and confirmed the financial statements for the year ending December 31, 2025[110]. Market Position - In 2025, the company achieved a revenue of RMB 2,000.6 million, maintaining its position as the top seller of high-end bird's nest products in China for nine consecutive years[45]. - The offline sales network consisted of 732 stores, including 112 self-operated stores and 620 distributor stores, with offline channel revenue reaching RMB 730.0 million, accounting for 36.49% of total revenue[47]. - The e-commerce business generated RMB 1,270.6 million, contributing 63.51% to the overall revenue, with a year-on-year growth of 2.29%[48]. - The company has opened overseas stores in New York and Singapore, improving the operational system for overseas sales of bird's nest products[50]. - The company has entered into partnerships with 28 restaurants and hotels to launch "Bird's Nest Banquets" and "Bird's Nest Afternoon Teas," with some partners signing annual raw material procurement agreements[51].

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: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 廈門燕之屋燕窩產業股份有限公司 (於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2026年3月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01497 | 說明 | H 股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 465,500,000 | RMB | | 0.2 RMB | | 93,100,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 465,500,000 | RMB | | 0.2 RMB | | 93,100,000 | 本 ...

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。 廈門燕之屋燕窩產業股份有限公司（「本公司」及其附屬公司「本集團」）董事會 （「董事會」）茲通告謹定於2026年3月17日（星期二）舉行董事會會議，以考慮及通 過本集團截至2025年12月31日止的全年業績，及建議之末期股息（如有），以及處 理其他事項。 XIAMEN YAN PALACE BIRD'S NEST INDUSTRY CO., LTD. 廈門燕之屋燕窩產業股份有限公司 承董事會命 廈門燕之屋燕窩產業股份有限公司 董事長兼執行董事 黃健 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1497) 董事會會議召開日期 香港，2026年3月5日 於本公告日期，董事會包括(i)執行董事黃健先生、鄭文濱先生、李有泉先生及黃 丹艷女士；(ii)非執行董事劉震先生及王亞龍先生；及(iii)獨立非執行董事肖偉先 生、陳愛華先生及林曉波先生。 ...

Group 1: Business Expansion - The company is accelerating its overseas business, having opened stores in New York, Singapore, and other locations, viewing international expansion as a key growth direction [1] - Starting in 2025, the company will launch 3.0 flagship stores in cities like Tianjin, Nanjing, and Xi'an, enhancing consumer experience through a "small store to large store" strategy [1] Group 2: Product Development - The company relies on its core technology of bird's nest peptides and collaborates with multiple research institutions to deepen basic research, with 27 new national patents expected by 2025 [2] - Innovative products such as "supercritical fresh bird's nest" are being introduced, along with functional products targeting sleep and gut health, aiming to reach a broader consumer base [2] Group 3: Brand Marketing Activities - In January 2026, the company was awarded the "Annual Cultural Creativity Brand" by Tmall's Little Black Box [3] - The company has launched limited products in collaboration with Disney's "Zootopia 2" and is enhancing cultural connotation through non-legacy embroidery gift boxes, continuously promoting brand youthfulness [3] Group 4: Financial Performance - The mid-2025 financial report indicates a slight revenue decline of 4% year-on-year, but gross margin improved to 51.99% due to smart manufacturing upgrades at new factories [4] - Net profit attributable to the parent company increased by 28.98% year-on-year, supported by a 2 percentage point decrease in sales expense ratio and optimized management efficiency [4]

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: 2026年1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: 廈門燕之屋燕窩產業股份有限公司 (於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2026年2月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01497 | 說明 | H 股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 465,500,000 | RMB | | 0.2 RMB | | 93,100,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 465,500,000 | RMB | | 0.2 RMB | | 93,100,000 | 本 ...

（於中華人民共和國註冊成立的股份有限公司） （股份代號：1497） XIAMEN YAN PALACE BIRD'S NEST INDUSTRY CO., LTD. 廈門燕之屋燕窩產業股份有限公司 補充公告 重續持續關連交易 (1) 2025年合聯裕泰食用燕窩產品購銷框架協議及 (2) 2025年中視鴻韻廣告服務框架協議 茲提述本公司日期為2025年12月29日有關重續2023年協議的持續關連交易的公告 （「該公告」）。除另有界定外，本公告所用詞彙與該公告所界定者具有相同涵義。 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。 (ii) 在新產品上市過程中，根據產品定價流程管理辦法，本公司的產品經理將 (1)梳理(a)業內至少2-3個同行對標核心主要競品與(b)本公司可比較產品的售 價、(2)分析本公司產品的成本、(3)根據相關競品的市場價格及本集團新品的 成本，與銷售部門評估定價策略、利潤率和其他因素、(4)確定產品標準零售 價及(5)將相關產品的標 ...

Core Viewpoint - The 2025 (20th) China Brand Person Annual Conference will be held on December 29 in Shenzhen, focusing on the theme "Who Earns Respect for China," gathering over 2,000 elites from various sectors to reflect on the development of Chinese brands and explore new trends and opportunities in brand building [3][16]. Group 1: Event Overview - The conference celebrates its 20th anniversary, likened to the "Oscars" of the brand community, aiming to consolidate wisdom and strength for Chinese brands [3][16]. - The event will feature discussions among leaders from politics, business, academia, and media, emphasizing the historical journey and future prospects of Chinese brands [3][16]. Group 2: Key Discussions -苗绿, the Deputy Secretary-General of the International Talent Organization (AGTO), emphasized that brand figures are the "captains and helmsmen" defining and conveying Chinese values [5][19]. - 西尼沙·贝尔扬, the Ambassador of Bosnia and Herzegovina to China, highlighted that Chinese entrepreneurs aim for long-term partnerships and contribute to a positive global image of China, showcasing creativity and passion [5][19]. - 高志凯, Vice President of the Globalization Think Tank (CCG), stated that every Chinese person represents the "China" brand, and it is a collective responsibility to protect this brand image [8][21]. Group 3: Insights on Brand Development - 王辉耀, a former counselor of the State Council, noted that the era of Chinese brands has arrived, and individuals should act as brand ambassadors, contributing value to society and the world [10][23]. - 李有泉, Executive Director and President of燕之屋, expressed concerns about the anxiety stemming from rapid changes in the consumer market, which has evolved in three decades compared to the West's three centuries [12][25]. - The consensus among the speakers is that values such as "integrity," "inclusiveness," and "sustainability" are essential for brands to earn global respect [14][27]. Group 4: Localization and Market Strategy - 韩普迪, the Commercial Counselor of the Indonesian Embassy in China, praised successful Chinese brands that have integrated into local Indonesian life, suggesting that "genuine localization" is key to winning markets [14][27].

Group 1 - The Ministry of Industry and Information Technology announced that Yan Zhi Wu (HK.01497) has been recognized as a leading brand in the bird's nest industry by being included in the "2025 Annual List of Chinese Consumer Brands" [1][2] - The selection process involved enterprise applications, preliminary recommendations by provincial departments, expert evaluations, and consultations with relevant government bodies, highlighting the brand's excellence and contribution to high-quality economic development [2] - Yan Zhi Wu has maintained its position as the top seller of high-end bird's nest products in China for nine consecutive years and has over 750 specialized stores, leading the market in terms of store quantity [2][6] Group 2 - The brand emphasizes its commitment to quality and innovation, aiming to create a comprehensive quality system from raw material sourcing to end sales, driven by technological advancements [6] - Yan Zhi Wu's recognition as a top brand is seen not only as an honor but also as a responsibility to contribute to the representation of Chinese quality consumption on a global scale [6]