大和发布研报称，九兴控股(01836)中期净利润7,860万美元，对比市场预期的7,580万美元，扣除700万 美元印尼及菲律宾增产问题的一次性开支，净利润应为8,560万美元，同比跌7%。该行下调对公司今明 两年每股盈利预测2%至5%，反映公司厂房增产事件及对指定客户提供暂时性关税支持影响，目标价由 17港元上调至20港元，为今明两年平均每年每股盈利预测的12倍，维持"买入"评级。 该行指，去年有100万对鞋提早在上半年付运，形成高基数效应。进一步扣除有关影响(估算800万美 元)，公司中期净利润实际应同比升2%。该行指，基于公司每年额外6,000万美元利润派发，除非公司把 有关资金作用回购，否则今明两年股息率料达10厘，属非常吸引。该行料公司在第三季业绩公布时披露 三年净利润增长计划，料2026至2028年年复合增长率目标为为高单位数。 ...

每经AI快讯，8月22日，港股午间收盘，恒生指数涨0.32%，恒生科技指数涨1.61%。半导体产品与设 备、汽车板块涨幅靠前；客运航空公司、居家用品板块跌幅靠前。华虹半导体涨超11%，小鹏汽车、中 兴通讯涨超10%，蔚来涨超7%，中芯国际涨超6%，中国生物制药涨超5%；九兴控股、万国黄金集团跌 超7%。 ...

Financial Performance - The group's revenue was flat for the first half of 2025, with a volume increase of 3.8% to 27.5 million pairs, primarily driven by the sports segment [4][5] - The average selling price (ASP) decreased by 3.2% due to a higher proportion of sports products with lower ASP [5] - Operating profit margin fell to 10.9%, down 30 basis points, with net profit declining by 14.6% to $78 million [5][6] - Gross profit margin decreased by 22% compared to 25.6% last year, attributed to high labor costs and temporary efficiency issues in factories [6][9] Business Line Performance - Revenue from the sports segment increased by 8.2%, accounting for 48.5% of total manufacturing revenue, driven by higher shipments to major customers [16] - The luxury category reported a net decrease of 3.5%, while the CASM category declined by 9.2%, reflecting a strategic reallocation of capacity [17] - The company commenced shipments to new customers, including Under Armour and Justin Bieber's brand, Skylar, contributing to the sports segment's growth [15][16] Market Performance - North America and Europe accounted for 48.7% and 23.4% of total revenue, respectively, with China contributing 25% of manufacturing capacity [17][18] - The company anticipates sustained growth, with plans to scale up total capacity by an additional 21 to 26 million pairs through new factories [19] Strategic Direction and Industry Competition - The company is focused on optimizing production efficiency and diversifying manufacturing capacity to align with customer needs [11][24] - A new three-year plan is being finalized, aiming for a 10% operating margin and low single-digit growth [22][24] - The company has received an MSCI ESG rating upgrade to AA, reflecting improvements in environmental performance [21] Management Commentary on Operating Environment and Future Outlook - Management expects moderate increases in shipment volumes for the full year, with continued pressure on profit margins due to efficiency improvements [22][23] - The company is addressing operational challenges in Indonesia and the Philippines, with plans for a turnaround in the second half of the year [30][31] - Tariff impacts are anticipated to affect strategic customer partnerships, with a focus on optimizing operations [23][24] Other Important Information - The company declared a $0.52 interim dividend, maintaining a payout ratio above the previous year's [5][9] - A solid net cash balance of $291 million is reported, with plans for share repurchases or special dividends in the future [8][25] Q&A Session Summary Question: Can you provide insights on the handbag business and its recovery timeline? - The company acquired a small factory specializing in handbags to expand this segment, with expectations for gradual growth [28][29] Question: Any updates on the full-year outlook? - The outlook remains consistent with previous guidance, with expectations of $6 million to $7 million in tariff impacts [30][31] Question: Will margins return to normal levels? - Management aims to restore margins to normal levels by Q4 2026, learning from past expansion challenges [32][33] Question: What are the reasons for revenue declines in China and Europe? - Revenue declines are attributed to customer allocation decisions and pre-order impacts from the previous year [36] Question: Can you quantify the inefficiencies in the first half? - Inefficiencies related to the Philippines and Indonesia resulted in approximately $7 million in profit loss [45] Question: What are the conversations like with brand customers? - Brand customers are cautious but looking to innovate and consolidate suppliers amid tariff uncertainties [47][49] Question: How is the dividend and buyback strategy affected? - There are no changes to the dividend payout policy or capital return strategy, with plans for continued shareholder returns [89]

（「本公司」） 提名委員會之職權範圍 組成 本公司董事會（「董事會」）已成立一個董事會常務委員會，命名為提名委員會。 目的 成立提名委員會之目的乃為確保董事會作出委任之程序公平透明，尤其是協助董事會 物色合適之候選人，並提供推薦意見供董事會及股東考慮。 成員 提名委員會須直接向董事會匯報其決定或推薦建議，惟倘其進行上述事宜之能力受到 法例或監管方面之限制（例如因監管方面之披露限制）則除外。 提名委員會成員須由董事會委任，而董事會可全權酌情決定罷免有關成員。提名委員 會至少須由三名董事組成，其中至少一名為不同性別的董事。 * 僅供識別 TR-Nomination Committee_250821(Chi) 1 提名委員會之大多數成員（「成員」，指全體成員或當中任何一名成員）須為獨立非執 行董事。 提名委員會主席須由董事會委任，並須為董事會主席或獨立非執行董事。 董事會須按香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）（經 不時修訂）可能作出之規定、或本公司股份上市或報價之任何其他證券交易所之規則、 或香港證券及期貨事務監察委員會或任何其他適用監管機構可能不時規定之其他守 則、規則及規例（「適用 ...

智通财经APP讯，九兴控股(01836)发布公告，将于2025年9月19日派发截至2025年6月30日止六个月的中 期股息每股0.52港元。 ...

EF001 EF001 免責聲明 | 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 | | | --- | --- | | 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。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 九興控股有限公司 | | 股份代號 | 01836 | | 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 | 截至二零二五年六月三十日止六個月的中期業績 | | 公告日期 | 2025年8月21日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 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6月30日 | | 宣派股息 | 每 股 0.52 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.52 HKD | | 匯率 | 1 HK ...

截至2025年6月30日止6个月，由于我们的运动及高端时尚类别新客户继续拓展，并根据我们的三年规划 进一步扩展及多元化客户组合，我们的非客户专属制造设施以接近饱和的状况运营。尽管去年同期向若 干客户提前出货约100万双，产生了较高基数，惟我们的收入及出货量仍录得同比增长。 智通财经APP讯，九兴控股(01836)发布截至2025年6月30日止6个月的中期业绩，该集团取得收入7.75亿 美元，同比增加0.66%;母公司拥有人应占溢利7863.3万美元，同比减少14.48%;每股基本盈利9.5美仙， 拟派发中期股息每股5.2港仙。 ...

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。 （股份代號︰1836） （於開曼群島註冊成立之有限公司） 截至二零二五年六月三十日止六個月的中期業績 摘要： * 僅供識別 1 • 出貨量增長3.8%，主要由運動鞋履產品帶動 • 收入增長0.7%至775,100,000美元 • 維持強健的淨現金狀況為291,300,000美元 • 經營利潤為84,700,000美元，經營利潤率為10.9% • 呈報純利為78,100,000美元 • # 經調整純利為77,900,000美元 • 宣派中期股息每股52港仙，派息率超過70% # 經調整純利不包括金融工具公平值收益淨額200,000美元（與Lanvin Group相關） 九興控股有限公司（「九興」或「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司（「本集團」或「我們」）截至二零二五年六月三十日止六個月（「回顧期內」）的 未經審核中期業績，連同二零二四年同期的比較數字如下： 截至二零二 ...

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: 九興控股有限公司 呈交日期: 2025年8月6日 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) | 01836 | 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 | | | 836,836,000 | | | | 836,836,000 | | 增加 / 減少 (-) | | | 180,000 | | | | | | 本月底結存 | | | 837,016,000 | | 0 | | 837,016,000 | 第 2 頁 共 10 頁 v 1.1.1 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | ...

Core Viewpoint - The company is experiencing short-term pressure on profitability due to slower employee efficiency improvements and the impact of tariffs, but maintains a strong order book and is expanding its customer base, leading to a strong medium to long-term outlook [1][2]. Financial Performance - In Q2 2025, the company's revenue increased by 2.9% to $444 million, with manufacturing revenue rising by 2.5% to $433 million, and shipment volume up by 4.1% to 15.4 million pairs. The average selling price decreased by 1.7% to $28.2 per pair [1]. - The company has adjusted its profit forecast, expecting net profits of $169 million, $183 million, and $201 million for 2025-2027, with year-on-year growth rates of -1%, 9%, and 10% respectively, corresponding to a PE of 9X for 2025 and 8X for 2026 [1][2]. Production Capacity and Challenges - Production ramp-up in Indonesia and the Philippines has been slower than expected due to insufficient employee efficiency, leading to some products being produced in Vietnam, which has increased production costs [2]. - The company is accelerating the construction of its factory in Indonesia, now expected to be completed in 2026, one year earlier than initially planned, and is expanding production around its existing factory in Vietnam [2]. Customer Orders and Market Position - The company has a strong order certainty for Q4 2025 and is planning to initiate 2026 order planning in Q3. It is also progressing with new customer collaborations, including two new sports clients and one luxury client expected to be developed in 2026 [1][2]. - The company is recognized as a leading manufacturer in the sports fashion footwear sector, with stable core customer orders and high product barriers, indicating strong medium to long-term certainty despite short-term challenges [2].