Core Insights - FWD Group (01828) reported a 9-month performance ending September 30, 2025, with new business sales reaching USD 1.935 billion, a year-on-year increase of 37% [1] - The new business contract service margin was USD 1.158 billion, reflecting a 27% year-on-year growth [1] - The growth rates for new business contract service margin and new business value were 27% and 17%, respectively, indicating strong potential for shareholder value enhancement [1] Distribution Channels - The company demonstrated strong momentum from its balanced and diversified distribution channels, particularly in the high-net-worth client market in Hong Kong and Singapore [1] - New business sales in these regions achieved a high double-digit year-on-year growth, now accounting for 37% of the group's overall business [1] Regional Performance - Strong demand from local and visiting clients continued to drive robust new business growth in the Hong Kong Special Administrative Region and Macau [1] - The emerging markets segment saw strong double-digit growth in new business sales, reflecting growth momentum in Singapore, Malaysia, the Philippines, and the joint venture BRI Life in Indonesia [1] - In Japan, the increase in new business sales was attributed to the solid performance of personal protection business and FWD's recent entry into the retirement and savings market [1] - The low interest rate environment continued to impact new business performance in Thailand and Cambodia [1]

股份代號 ：1828 截至 2025 年 9 月 30 日止九個月的新業務摘要 富衛集團新業務表現強勁 本公告僅供參考，並不構成任何人士收購、購買或認購證券的邀請或要約。本公告並非亦無意作為在美國發售本公司證券供 出售的要約。本公司證券並無亦不會根據 1933 年美國證券法（經修訂）（「美國證券法」）登記，且不得未根據美國證券 法登記或適用豁免登記規定而在美國發售或出售。本公司證券並無亦無計劃在美國公開發售。 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，概不就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。 FWD Group Holdings Limited 富衛集團有限公司 (於開曼群島註冊成立的有限公司) 多項策略性資本管理舉措提升財務實力，降低槓桿與融資成本 香港，2025 年 11 月 3 日 - 富衛集團有限公司（「富衛集團」或「富衛」）今天公布截至 2025 年 9 月 30 日首九個月的強勁新業務表現 1 。 富衛集團行政總裁兼執行董事黃清風表示：「我們欣然公布強勁的新業務表現，主要受惠 ...

Core Viewpoint - The stock price of FWD Group has experienced significant volatility since its IPO, reflecting market sentiment and performance pressures, with a recent decline bringing it close to its initial offering price [1][3]. Group 1: Stock Performance - FWD Group's stock was listed at an initial price of 38 HKD per share on July 7, 2023, but opened below this price on its first day, indicating weak market reception [1]. - After fluctuating around 38 HKD for over a month, the stock saw a nearly 30% increase starting August 27, reaching a peak of over 50 HKD, before falling back to around 40 HKD by mid-September [3]. - The stock's recent decline is attributed to pressures from the industry and market sentiment, particularly due to increased volatility in the bond market and uncertainty in equity market contributions to profits [3]. Group 2: Financial Performance - FWD Group reported a net profit of 47 million USD in its first interim results post-IPO, which initially boosted investor confidence [3]. - However, Goldman Sachs forecasts a full-year net profit of only 36 million USD, indicating a pessimistic outlook for the company's second half of the fiscal year [3]. - The company has faced substantial losses in previous years, with a reported loss of 716 million USD in 2023, primarily due to adverse capital market conditions [5][6]. Group 3: Business Strategy and Debt - FWD Group has historically relied on debt for operations and acquisitions, with a debt ratio reaching 87.31% in 2024, which may impact future profitability [6]. - As of April 30, 2025, the company had 2.786 billion USD in borrowings, including significant amounts from bank loans and issued notes [6]. - The company acknowledges the need for ongoing investment to meet reporting requirements and improve governance, but this may lead to continued financial losses if new revenues do not cover expenses [5][6]. Group 4: Market Expansion and Customer Base - FWD Group has expanded its operations from three markets to ten, including Hong Kong, Thailand, Japan, and emerging markets in Southeast Asia [7]. - The company has not yet entered the mainland China market but has benefited from sales to mainland visitors, with significant new business value generated from this segment [7]. - The new business sales from mainland visitors grew 6.3 times from 2022 to 2024, highlighting the potential for future growth in this area [7].

I. 法定/註冊股本變動 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 | | | 致：香港交易及結算所有限公司 公司名稱: 富衛集團有限公司 呈交日期: 2025年10月8日 | 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) | 01828 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,700,000,000 | USD | | 0.03 | USD | | 51,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 1,700,000,000 | USD | | 0.03 | USD | | 51,000,000 | 本月底法定/註冊股本總額： USD 51,000,000 ...

Group 1 - Zijin Mining International (02259) has been included in the Hang Seng Composite Index, effective from October 16, 2025, following the rapid inclusion rules [1] - The rapid inclusion mechanism allows new stocks to be added to the index if their market capitalization ranks in the top 10% of existing constituents on their first trading day [1] - Other companies such as Aux Group (02580), Chery Automobile (09973), and FWD Group (01828) are also expected to be included in the Hang Seng Composite Index based on similar criteria [1] Group 2 - Companies like Sino Biopharmaceutical-B (02591), Zhonghui Biotechnology-B (02627), and others have shown good performance and may warrant attention for future market performance [2] - The company Zhi Zhi Jia-W (02590), listed on July 9, 2023, must meet additional standards for dual-class shares to qualify for the Hong Kong Stock Connect, which requires ongoing observation [2]

Group 1 - As of September 19, 93 stocks reached their 52-week highs, with Huake Intelligent Investment (01140), Xincheng Power (01148), and Huashang Energy (00206) leading the increase rates at 22.30%, 20.00%, and 17.65% respectively [1] - The closing prices for the top three stocks that reached new highs are Huake Intelligent Investment at 0.170, Xincheng Power at 0.300, and Huashang Energy at 0.305 [1] - Other notable stocks that reached new highs include Handa Fu Holdings (01348) with a high rate of 16.89% and Meijiehui Holdings (01389) at 13.75% [1] Group 2 - The report also lists stocks that reached their 52-week lows, with Shanga Holdings (00412) experiencing the largest decline at -34.98%, followed by Huaying Construction (01582) at -21.47% [3] - The closing price for Shanga Holdings is 3.360, while Huaying Construction closed at 0.360 [3] - Other stocks with significant declines include China Information Technology Equity (08568) at -17.74% and Tai Hing Properties (00277) at -11.90% [3]

(Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立的有限公司 ) （Stock Code 股份代號：1828） 17 September 2025 Dear Non Registered Shareholder(s), FWD Group Holdings Limited 富衛集團有限公司 以電子方式發布公司通訊之安排 Arrangements of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07A of the Rules (the "Listing Rules") Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the articles of association of FWD Group Holdings Limited (the "Company" ...

富衛集團上市後首次公佈業績 上半年表現創新高 富衛於7月完成466百萬美元的首次公開招股，進一步提升其財務靈活性 穆迪於同月宣佈信貸評級上調 香港，2025年8月29日－富衛集團有限公司（「富衛集團」或「富衛」）今天公佈截至2025年6月30日止六個 月的中期業績。 富衛集團行政總裁兼執行董事黃清風表示：「我們非常高興首次以上市公司身份公佈業績，就創出採用國 際財務報告準則第17號以來的中期業績新高。新業務合約服務邊際的強勁增長，展現了我們成功在亞洲貫 徹以客為先策略實現可持續盈利的能力。」 黃清風補充：「我們計劃將近期首次公開招股所得款項淨額用於進一步提升資本實力及財務靈活性，包括 減少整體債務，以支持業務增長及拓展客戶及渠道覆蓋滲透的機會，如深化數碼能力及策略。」 在香港特別行政區及澳門特別行政區，新增業務銷售額及新業務合約服務邊際均錄得顯著增長，反映本地 及中國內地訪客客群持續多元的需求，以及富衛高資產淨值客戶服務全面啟動帶來的正面影響。富衛集團 持續專注於多渠道分銷模式策略，並積極推動產品創新，包括根據最新監管指引所開發的指數型萬用壽險 產品，以及為合資格客戶推出的大灣區跨境醫療服務。 1 • 新增業 ...

登記股東之名稱及地址 尊敬的股東 發布公司通訊之安排 簡介 根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第 2.07A 條 以及富衛集團有限公司 （「本公司」）的公司章程細則，本公司將以電子通訊方式向其股東 1 發布本公司日後的公司通訊（「公司通訊 2」），並僅應股東要求向其寄發印刷本形式的公司通訊。 安排 1. 可供採取行動的公司通訊 3 本公司將以電子通訊方式（通過電子郵件）向股東個別地發送可供採取行動的公司通訊。倘若本公司沒有獲 取股東的電子郵箱地址或其提供的電子郵箱地址無效 4，本公司將以印刷本形式發送可供採取行動的公司通 訊，連同一份索取股東有效電子郵箱地址的表格，以便將來以電子通訊方式發送可供採取行動的公司通訊。 FWD Group Holdings Limited 富衛集團有限公司 ( 於開曼群島註冊成立的有限公司 ) （股份代號：1828） 2025 年 9 月 17 日 2. 公司通訊 本公司將在本公司網站（www.fwd.com）及聯交所網站（www.hkexnews.hk）上發布公司通訊。 本公司不會向股東發出公司通訊網站版本 5 的登載通知。本公司鼓勵股東主動留 ...

Group 1 - The core viewpoint of the article highlights that shareholders of FWD Group (01828) deposited shares into Wing Lung Bank, with a market value of HKD 2.273 billion, representing 3.67% of the total [1] - Goldman Sachs initiated coverage on FWD Group, assigning a "Buy" rating and a target price of HKD 44 [1] - The bank forecasts an average intrinsic value return rate of 14.3% for FWD Insurance from this year until 2027, in contrast to a negative 5.4% from 2022 to 2024, driven mainly by operational improvements and economic differences [1]