Core Viewpoint - The recent public confrontation between Fantasia Holdings (01777.HK) and its subsidiary, Color Life Services (01778.HK), against the auction plan of 29.9% shares by Oaktree Capital reflects the ongoing value competition and structural changes in the property management industry during the real estate adjustment period [2][3]. Group 1: Share Auction Controversy - The core of the share auction controversy stems from unresolved debt disputes between Fantasia and Tianfeng International Securities Futures (TFISF) [3]. - Oaktree Capital, as a financial advisor related to TFISF, plans to auction up to 29.9% of Color Life's issued shares, with TFISF claiming to hold approximately 780.14 million shares (41.95% of total issued shares) as collateral for debts owed by Fantasia [3][4]. - Fantasia denies any collateral relationship regarding the shares and is seeking legal advice to protect its rights [3][4]. Group 2: Financial Context - The auction plan's feasibility and TFISF's true intentions are under scrutiny, especially given that Color Life's market value is only HKD 331 million, which is significantly lower than the USD 96.98 million debt owed [4]. - Market speculation suggests that TFISF may be attempting to pressure Fantasia into concessions regarding debt restructuring, particularly as Fantasia is currently undergoing a critical debt restructuring process [4]. Group 3: Company Performance - Color Life, once known as the "first property stock," remains a core asset in Fantasia's debt restructuring, reporting revenue of approximately CNY 1.039 billion, gross profit of CNY 224 million, and net profit of CNY 28.6 million for the first half of 2025 [5]. - The performance data indicates operational resilience amid the overall adjustment in the real estate sector [5]. Group 4: Industry Dynamics - The property management industry is becoming a key asset during the real estate market adjustment, with a notable divide between leading firms and smaller companies [6]. - Leading property management firms benefit from significant scale effects and resource advantages, while smaller firms face challenges such as resource depletion and ownership instability [6]. - The industry is expected to continue its structural transformation, with an anticipated increase in concentration and growth potential driven by urbanization and rising living standards [6].

Core Viewpoint - The ongoing dispute between the company and TFISF has resurfaced, with the company opposing the auction of shares in its subsidiary, Color Life, which could impact its control over the subsidiary [1][2]. Group 1: Company Announcement - The company announced its opposition to the auction plan proposed by OSL Capital, which aims to sell up to 29.9% of Color Life's issued shares [1]. - The company claims that the alleged debts owed to TFISF do not involve Color Life shares as collateral, and it has formally opposed the auction process [1][2]. - This is not the first conflict between the company and TFISF, as a similar dispute arose in December 2021 regarding a loan issue [1][2]. Group 2: Shareholding and Control - TFISF claims to hold approximately 780.14 million shares of Color Life, representing about 41.95% of the total issued shares, which are pledged as collateral for debts owed by the company [1][2]. - The company's controlling shareholder, Zeng Baobao, indirectly holds around 1.01364 billion shares of Color Life, accounting for 68.14% of the total shareholding [2]. - The company holds a total of 52.44% of Color Life's equity, and the auction of up to 29.9% of shares could jeopardize its control over the subsidiary [2]. Group 3: Financial Context - Color Life's current stock price is HKD 0.178 per share, making the 29.9% stake worth approximately HKD 98.97 million [3]. - The company recently advanced a debt restructuring plan covering USD 4.018 billion, involving various debt instruments and offering three options for creditors [3]. - As of October 3, approximately 84.54% of the company's existing noteholders and 77.33% of total outstanding debt holders have supported the restructuring plan [4].

如2021年公告所述，TFISF声称其作为公司托管人持有彩生活合共7.8亿股股份(相当于彩生活于本公告 日期的已发行股份总数约41.95%)将被押记，作为结欠TFISF指称款项的担保。公司认为，结欠TFISF的 指称款项并未以彩生活股份作出担保，并已正式以书面向TFISF及奥澌提出反对有关彩生活股份的任何 拍卖程序。 公司正就未经授权试图强制执行所谓的担保权利寻求法律意见以保障其合法权益。公司将适时刊发进一 步公告，以知会公司股东及其他投资者任何重大进展。 （原标题：花样年控股(01777)：已正式以书面向TFISF及奥澌提出反对有关彩生活(01778)股份的任何拍 卖程序） 智通财经APP讯，花样年控股(01777)发布公告，有关涉及一间附属公司股份的纠纷的最新情况，公司接 获奥澌资本亚洲有限公司(奥澌)声称作为与TFISF有关的一间实体的财务顾问所发出的通知，内容有关 拟透过由奥澌管理的拍卖程序声称行使权利，以出售公司一间附属公司彩生活服务集团有限公司 (01778)已发行股份总数最多29.9%。 ...

Core Viewpoint - The company, Fantasia Holdings (01777.HK), has received a notification from OASIS Capital Asia Limited regarding a proposed auction to sell up to 29.9% of its subsidiary, Color Life Services Group (01778.HK) [1] Group 1: Company Actions and Responses - The company asserts that the alleged debts to TFISF are not secured by Color Life shares and has formally opposed any auction procedures related to these shares [1] - The company is seeking legal advice to protect its rights against unauthorized attempts to enforce the claimed security rights [1] - The company will issue further announcements to inform shareholders and investors of any significant developments [1] Group 2: Shareholding and Financial Details - TFISF claims to hold a total of 780,104,676 shares of Color Life, which represents approximately 41.95% of the total issued shares as of the announcement date [1]

公司亦已获悉，花样年已正式以书面向TFISF及奥澌提出反对有关公司股份的任何拍卖程序，且花样年 正就未经授权试图强制执行所谓的担保权利寻求法律意见以保障其合法权益。公司将适时刊发进一步公 告，以知会公司股东及其他投资者任何重大进展。 格隆汇11月12日丨彩生活(01778.HK)发布公告，公司获花样年控股集团有限公司("花样年")告知，花样 年接获奥澌资本亚洲有限公司("奥澌")声称作为与TFISF有关的一间实体的财务顾问所发出的通知，内 容有关拟透过由奥澌管理的拍卖程序声称行使权利，以出售公司已发行股份总数最多29.9%。 ...

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。 COLOUR LIFE SERVICES GROUP CO., LIMITED 彩生活服務集團有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：1778） 內幕消息 本公告乃由彩生活服務集團有限公司（「本公司」）根據香港聯合交易所有限 公司證券上市規則第13.09(2)(a)條以及證券及期貨條例（香港法例第571章）第 XIVA部作出。 茲提述本公司日期為2021年12月9日的公告（「 2021年公告」）。除另有界定者 外，本公告所用詞彙與2021年公告所界定者具有相同涵義。 本公司獲花樣年控股集團有限公司（「花樣年」）告知，花樣年接獲奧澌資本亞 洲有限公司（「奧澌」）聲稱作為與TFISF有關的一間實體的財務顧問所發出的 通知，內容有關擬透過由奧澌管理的拍賣程序聲稱行使權利，以出售本公司 已發行股份總數最多29.9%。 1 本公司亦已獲悉，花樣年已正式以書面向TFISF及奧澌提出反對有關本公司 ...

本月底法定/註冊股本總額： HKD 5,000,000,000 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 致：香港交易及結算所有限公司 公司名稱: 彩生活服務集團有限公司 呈交日期: 2025年11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) | 01778 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.1 | HKD | | 5,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | ...

Group 1: Cao's Kite Workshop - Cao's Kite Workshop is recognized as a national intangible cultural heritage representative project since 2011, integrating both court and folk techniques with a focus on four core skills: "making, pasting, painting, and flying" [1][2] - The workshop has adopted a "culture + community" model, attracting hundreds of thousands of participants annually through offline workshops and online live events, promoting traditional culture among youth [2] - The workshop has developed a carbon fiber kite that can fly without strong winds, making it accessible for the elderly and children, and aims to spread the joy of kites beyond just flying [2] Group 2: Beijing Enamel Factory - The Beijing Enamel Factory is the only time-honored brand in the national cloisonné industry, established in 1956, and has been recognized as a national intangible cultural heritage since 2006 [3][4] - The factory has created a series of cultural and creative products that incorporate traditional craftsmanship into modern consumer goods, aiming to make cloisonné accessible to the general public [4] - Recent products include a series of cloisonné items themed around the Beijing Central Axis, which have been well-received and are designed to appeal to younger consumers [4] Group 3: Chang'an Grand Theatre - Chang'an Grand Theatre, established in 1937, has hosted over 10,000 performances and welcomed more than 5 million audience members, playing a crucial role in the transmission of Peking opera [5][6] - The theatre is launching a "dual theatre linkage" model in 2024, collaborating with another theatre to offer over 200 performances of Peking opera and local dramas throughout the year [6] - The theatre has introduced themed stores and a range of cultural products, allowing audiences to take home elements of Peking opera, thus enhancing the cultural experience [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 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: 彩生活服務集團有限公司 呈交日期: 2025年10月2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) | 01778 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.1 | HKD | | 5,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.1 | HKD | | 5,000,000,000 | 本月 ...

Group 1 - The "Shoulu Exciting Life Festival" is taking place from October 1 to 8, coinciding with the National Day and Mid-Autumn Festival, featuring a variety of activities including market exhibitions, immersive experiences, intangible cultural heritage displays, cultural performances, and online live broadcasts [1] - The festival showcases 67 brands from 51 enterprises under the Shoulu Group, with many star-rated hotels presenting their signature dishes, creating a culinary feast for attendees [4] - The event includes themed promotions and interactive activities at various brand stores in Beijing and key areas, leveraging new media platforms like Douyin for comprehensive live streaming and deep integration of online and offline experiences [8] Group 2 - The festival aims to enhance the consumer atmosphere by allowing citizens and tourists to experience the excitement of the festival anytime and anywhere, with 10,000 NFC-enabled stickers placed in physical stores for easy participation in the online festival [8] - Shoulu Group emphasizes its commitment to leveraging its strengths to contribute to the prosperity and development of Beijing's consumer market through this event [8]