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聯合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，概不對因本聯合公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本聯合公告僅供參考，並不構成收購、購買或認購本公司的證券之邀請或要約，亦不在 任何司法權區構成任何投票或批准的招攬。倘本聯合公告於或向任何司法權區發佈、刊 發或派發違反任何司法權區的相關法律，則本聯合公告不擬於或向任何司法權區發佈、 刊發或派發。 駱葉飛先生的財務顧問 杉杉品牌運營股份有限公司 駱葉飛先生 SHANSHAN BRAND MANAGEMENT CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：1749） 聯合公告 就下列事項寄發綜合文件： 國證國際證券（香港）有限公司為及代表駱葉飛先生 提出強制性有條件現金要約以收購杉杉品牌運營股份有限公司的所有H股 （駱葉飛先生及與其一致行動人士已擁有或同意將予收購的H股除外） 及 駱葉飛先生提出強制性有條件現金要約以收購 杉杉品牌運營股份有限公司的所有內資股 （駱葉飛先生及與其一致行動人士已擁有或同意將予收購的內資股除 ...

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this GREEN form of acceptance and transfer, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this GREEN form of acceptance and transfer. 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司對本綠色接納及過戶表格 ...

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this WHITE form of acceptance and transfer, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this WHITE form of acceptance and transfer. 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司對本白色接納及過戶表格 ...

此乃要件 請即處理 閣下如對該等要約、本綜合文件及╱或隨附之接納表格之任何方面或應採取之行動有任何疑問，應諮 詢持牌證券交易商或註冊證券機構、銀行經理、律師、專業會計師或其他專業顧問。 閣下如 已將名下之杉杉品牌運營股份有限公司股份全部 售出或轉讓，應立即將本綜合文件連同隨附 之接納表格送交買主或承讓人，或經手買賣或轉讓之銀行、持牌證券交易商或註冊證券機構或其他 代理商，以便轉交買主或承讓人。本綜合文件應與隨附之接納表格一併閱讀，其條文構成本綜合文件 所載該等要約條款的一部分。 以收購杉杉品牌運營股份有限公司的所有內資股 香港交易及結算所有限公司、香港聯合交易所有限公司及 香港中央結算有限公司 對本綜合文件及接 納表格的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本綜合文件 及接納表格全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 杉杉品牌運營股份有限公司 SHANSHAN BRAND MANAGEMENT CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：1749） (1)國 證 國 際 證 券（香 港）有 限 公 司 為 及 代表駱 ...

Financial Performance - For the six months ended June 30, 2025, the company's revenue decreased by approximately 10.6% to RMB 425.2 million from RMB 475.7 million for the same period in 2024[11]. - The company's net profit attributable to shareholders for the same period was RMB 12.1 million, a decrease of about 8.3% compared to RMB 13.2 million in 2024[9]. - Gross profit for the period was RMB 179.1 million, a decrease of approximately 8.7% from RMB 196.2 million for the same period in 2024[14]. - Other income significantly decreased by approximately 81.3% to RMB 0.3 million from RMB 1.6 million in the previous year, primarily due to reduced sales of raw materials and a one-time high-interest bank deposit income in 2024[15]. - Profit for the period decreased by 8.3% from RMB 13.2 million to RMB 12.1 million[23]. - Earnings per share for the period was RMB 9.05, down from RMB 9.90 in 2024[56]. - The company reported a total depreciation and amortization expense of RMB 22,109,955, an increase from RMB 16,001,685 in the previous year[79]. - The company's income tax expense for the six months ended June 30, 2025, was RMB 3,644,182, a decrease of 43.3% from RMB 6,392,999 in the same period of 2024[83]. Revenue Breakdown - Revenue from the FIRS brand accounted for 67.5% of total revenue, amounting to RMB 286.98 million, while SHANSHAN brand revenue was RMB 136.07 million, representing 32.0% of total revenue[13]. - Retail sales through e-commerce platforms accounted for 34.3% of total revenue, amounting to RMB 146.02 million, down from 36.0% in the previous year[12]. - Revenue from apparel trading was RMB 374,483,426, down from RMB 421,878,831, reflecting a decline of 11.2% year-over-year[74]. - E-commerce platform sales decreased to RMB 146,022,393 from RMB 171,229,861, a decline of 14.7%[77]. Operational Changes - The total number of retail stores decreased by approximately 11.2%, from 662 stores as of December 31, 2024, to 588 stores as of June 30, 2025[10]. - The company has optimized its e-commerce platform, leading to a decline in e-commerce revenue during the period[11]. - The company has emphasized brand culture and launched new product lines, including a light business series under the SHANSHAN brand, which has gained consumer favor[9]. - Sales and distribution expenses decreased by approximately 2.7% from RMB 151.7 million to RMB 147.6 million, mainly due to a decline in revenue from franchisee channels[17]. - Administrative expenses decreased by approximately 14.2% from RMB 21.8 million to RMB 18.7 million, primarily due to reduced professional consulting fees[18]. Investments and Projects - The company is advancing its 5G new productivity industrial park project in Ningbo, expected to be completed in Q4 2025, focusing on technological research and digital transformation[10]. - The estimated total cost for the industrial park project is RMB 280 million, with RMB 41.3 million already paid for land use rights as of June 30, 2025[31]. - The company has a significant investment in a new integrated building for product R&D and smart manufacturing, indicating a focus on technological advancement and market expansion[85]. Shareholding Structure - The company and its affiliates hold a total of 52,021,000 domestic shares, representing approximately 39.00% of the total issued shares[35]. - The total shareholding structure indicates significant concentration among major shareholders, with the top shareholders holding substantial percentages of the total shares[43][44]. - The latest report indicates a shift in ownership dynamics following the passing of Mr. Zheng, impacting the overall share distribution[44]. - As of June 30, 2025, Mr. Luo and Ms. Zhou collectively own 52,021,000 domestic shares, representing 52.021% of the domestic shares and 38.996% of the total issued shares[41]. Financial Position - Cash and cash equivalents were approximately RMB 59.1 million as of June 30, 2025, down from RMB 106.5 million as of December 31, 2024[25]. - Current assets decreased to RMB 543,971,128 from RMB 655,385,875, with a notable decline in inventory and trade receivables[58]. - Total liabilities decreased from RMB 525,604,168 to RMB 441,273,041, indicating improved financial stability[58]. - Operating cash flow for the six months was a net outflow of RMB 40,102,503, compared to RMB 24,101,011 in the previous year, indicating increased cash usage[63]. Corporate Governance - The audit committee consists of three independent non-executive directors who reviewed and approved the interim results for the period[49]. - The company did not repurchase any of its H-shares during the reporting period and holds no treasury shares as of June 30, 2025[50]. - There are no reported conflicts of interest among directors, supervisors, or major shareholders with respect to the company's business[52]. - Changes in the board of directors include the resignation of Mr. Shen Jinxin and the appointment of Mr. Wang Mingming as a non-executive director effective June 9, 2025[53].

Core Viewpoint - The company Shanshan Brand (01749) announced changes in the composition of its nomination committee effective from September 10, 2025 [1] Group 1 - The current chairman and executive director, Mr. Luo Yefei, will no longer serve as the chairman of the nomination committee [1] - Independent non-executive director and current committee member, Mr. Wu Xuekai, has been appointed as the new chairman of the nomination committee [1] - Executive director, Ms. Zhou Yumei, has been appointed as a member of the nomination committee [1]

Group 1 - The company announced changes to the composition of its Nomination Committee effective September 10, 2025 [1] - The current Chairman of the Board and Executive Director, Mr. Luo Yefei, will no longer serve as the Chairman of the Nomination Committee [1] - Independent Non-Executive Director and current member of the Nomination Committee, Mr. Wu Xuekai, has been appointed as the new Chairman of the Nomination Committee [1] - Executive Director, Ms. Zhou Yumei, has been appointed as a member of the Nomination Committee [1]

（於中華人民共和國註冊成立的股份有限公司） 杉杉品牌運營股份有限公司 Shanshan Brand Management Co., Ltd. （股份代號：1749） 董事名單及其角色及職能 附註： 獨立非執行董事 周政寧先生 王亞山先生 非執行董事 毛偉勇先生 王明明先生 董事會設立三個董事委員會。下表提供各董事會成員在該等委員會中所擔任的職 位資料。 | | 董事委員會 | 審核委員會 | 薪酬委員會 | 提名委員會 | | --- | --- | --- | --- | --- | | 董 事 | | | | | | 駱葉飛先生 | | | | | | 曹陽先生 | | | | | | 嚴靜芬女士 | | | M | | | 周玉梅女士 | | | | M | | 毛偉勇先生 | | | | | | 王明明先生 | | | | | | 周政寧先生 | | C | | | | 王亞山先生 | | M | C | M | | 武學凱先生 | | M | M | C | 下 文 載 列 杉 杉 品 牌 運 營 股 份 有 限 公 司 董 事 會（分 別 為「董 事」及「董事會」）成 員。 執行董事 駱葉飛先生 ...

杉杉品牌運營股份有限公司 Shanshan Brand Management Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） （股份代號：1749） 提名委員會組成變動 香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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依賴該等內容而引致的任何損失承擔任何責任。 (iii) 執行董事周玉梅女士獲委任為提名委員會委員。 作出上述變動後，提名委員會由三名成員組成，分別為武學凱先生（主席）、王亞山先 生、周玉梅女士。 承董事會命 杉杉品牌運營股份有限公司 主席 駱葉飛 中華人民共和國寧波，2025年9月10日 杉杉品牌運營股份有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，自二零二五 年九月十日起，董事會提名委員會（「提名委員會」）之組成有以下變動： （i） 董事會主席兼執行董事駱葉飛先生不再擔任提名委員會主席； （ii） 獨立非執行董事及現任提名委員會成員武學凱先生獲委任為提名委員會主席；及 於本公告日期，執行董事為駱葉飛先生（主席）、曹陽先生（副主席）、嚴 ...

FF301 本月底法定/註冊股本總額： RMB 133,400,000 | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000 | RMB | | 1 RMB | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 100,000,000 | RMB | | 1 RMB | | 100,000,000 | 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 | | | --- | --- | --- | --- | --- | --- | --- | - ...