Core Viewpoint - The report from Jefferies anticipates that Samsonite (01910) will announce a net profit of $117 million in Q4 2025, representing a 9% year-over-year decline, with a profit margin of 18.5% and a sales growth of 1.4% [1] Group 1 - The company is expected to release its 2025 performance results in mid-March, with investors focusing on three key areas: management's outlook on 2026 sales and profit margins, the timeline for its U.S. listing, and the timing and scale of share buybacks [1] - Based on a more optimistic mid-term outlook, Jefferies has raised the target price for Samsonite from HKD 22 to HKD 23.24 while maintaining a "Buy" rating [1]

Core Viewpoint - Jefferies forecasts that Samsonite's net profit for Q4 2025 will decline by 9% year-on-year to $117 million, with a profit margin of 18.5% and a sales growth of 1.4% year-on-year, reflecting a local currency growth of 0.4% [1] Group 1 - The company is set to announce its 2025 performance in mid-March, with investors focusing on three key areas: management's outlook on 2026 sales and profit margins, the timeline for its U.S. listing, and the timing and scale of share buybacks [1] - Based on a more optimistic mid-term outlook, Jefferies has raised the target price for Samsonite from HKD 22 to HKD 23.24, maintaining a "Buy" rating [1]

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12月31日 狀態: 新提交 公司名稱: Samsonite Group S.A. 新秀麗集團有限公司 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 致：香港交易及結算所有限公司 FF301 備註： 在本報表中，法定股本（公司獲其股東授權發行的股本金額）包括公司之已發行及未發行股本。但是，根據盧森堡法律，法定股本僅包括公司之法定但未發行股本。 此法定/註冊股份數目代表法定已發行及未發行股份。法定但未發行股份數目為2,033,763,863。 此法定/註冊股本代表法定已發行及未發行股本。法定但未發行股本金額為 20,337,638.63 美元。 FF301 第 1 頁 共 10 頁 v 1.1.1 | 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) | 01910 | 說明 | | | ...

Group 1 - T. Rowe Price Associates, Inc. and its Affiliates reduced their stake in Samsonite International S.A. by selling 1.5006 million shares at a price of HKD 20.167 per share, totaling approximately HKD 30.2626 million [1] - After the reduction, T. Rowe Price's latest holding amounts to approximately 110 million shares, representing a holding percentage of 7.95% [1]

Group 1 - T. Rowe Price Associates, Inc. and its Affiliates reduced their stake in Samsonite International S.A. (01910) by selling 1.5006 million shares at a price of HKD 20.167 per share, totaling approximately HKD 30.2626 million [1] - After the reduction, T. Rowe Price's latest shareholding stands at approximately 110 million shares, representing a holding percentage of 7.95% [1]

Core Viewpoint - Samsonite (01910) has seen a stock increase of over 4%, currently trading at HKD 20.36 with a transaction volume of HKD 100 million, driven by positive market sentiment and analyst recommendations [1] Group 1: Analyst Insights - Citi's recent report highlights that the focus on the Chinese consumer sector will shift towards opportunities in niche markets, with high-end consumption benefiting from eased monetary policy, improved stock market conditions, and increased offshore financing [1] - Goldman Sachs noted that the management's outlook during the latest earnings call appears more optimistic compared to August, anticipating improved net sales growth in Q4 due to new product launches and increased advertising efforts before the peak season [1] Group 2: Investment Recommendations - Goldman Sachs has identified Samsonite as one of its top three stock picks, citing potential catalysts for further valuation reassessment, including a possible dual listing in the U.S. next year and share buybacks to mitigate dilution effects [1]

Core Viewpoint - Samsonite (01910) shares rose over 4%, currently at HKD 20.36 with a trading volume of HKD 100 million, driven by positive analyst outlooks on the Chinese consumer sector and high-end market recovery [1] Group 1: Analyst Insights - Citi's recent report highlights that the focus on the Chinese consumer sector will shift towards opportunities in niche markets, with high-end consumption benefiting from relaxed monetary policy, improved stock markets, and increased offshore financing [1] - Goldman Sachs noted that the management's outlook during the latest earnings call appears more optimistic compared to August, anticipating improved net sales growth in Q4 due to new product launches and increased advertising efforts before the peak season [1] - Goldman Sachs also mentioned that potential dual listing in the U.S. next year and share buybacks to mitigate dilution effects could serve as catalysts for further valuation reassessment of the stock [1]

（本公司組織章程細則應以英文本為準，任何中文譯本不得更改或影響其解釋） 1. 詮釋 1.1. 本章程細則的頁邊註釋不會影響章程細則的詮釋。於本章程細則中，除標題或 文義另有註明： | 「章程細則」 | 指 | 本公司現時的組織章程細則及當時有效的 | | --- | --- | --- | | | | 所有補充、經修訂或替代章程細則； | | 「聯繫人」 | 指 | 就任何董事而言，具有上市規則所賦予之 | | | | 涵義； | | 「董事會」 | 指 | 董事會； | | 「營業日」 | 指 | 盧森堡、美國或香港商業及金融市場開門 | | | | 進行買賣的任何日子； | | 「主席」 | 指 | 不時主持任何股東大會或董事會會議的主 | | | | 席； | | 「公司條例」 | 指 | 不時修訂的公司條例（香港法例第 32 章）； | | 「本公司」 | 指 | 新秀麗集團有限公司，乃受盧森堡大公國 | | | | 法律規管的股份有限公司，其註冊辦事處 | | | | 位 於 20, Avenue Monterey, L-2163 | | | | Luxembourg, 其現正辦理於盧森堡商業和 | ...

呈交日期: 2025年12月4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) | 01910 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,500,000,000 | USD | | 0.01 | USD | | 35,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,500,000,000 | USD | | 0.01 | USD | | 35,000,000 | 致：香港交易及結算所有限公司 公司名稱: Samsonite Group S.A. 新秀麗集團有限公司 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11月 ...

Core Viewpoint - The report from Credit Lyonnais highlights the focus on opportunities in the segmented development of the Chinese consumer sector, with expectations of recovery driven by relaxed monetary policy, improved stock market conditions, and increased offshore financing [1] Group 1: Consumer Sector Outlook - The outlook for the Chinese consumer sector emphasizes the recovery of high-end consumption, supported by favorable monetary policies and market conditions [1] - Credit Lyonnais predicts that consumer sentiment and CPI data will remain moderate, allowing companies to capture opportunities in market segmentation and global expansion [1] Group 2: Preferred Stocks - The report identifies three preferred stocks: Anta Sports (02020), Yue Yuen Industrial (00551), and Samsonite (01910), with Yue Yuen's target price raised from HKD 16 to HKD 18 [1] - The firm also suggests monitoring the earnings improvement of Li Ning (02331), Yingtong Holdings (06883), and China Duty Free Group (601888) (01880) [1] Group 3: Industry-Specific Predictions - Credit Lyonnais forecasts a 3% to 4% year-on-year growth in China's sportswear retail sales for the coming year, attributing this to major brands optimizing retail channels and enhancing product functionality [1] - The cosmetics industry is expected to see low to mid-single-digit growth in the next year [1] - In the gold and jewelry sector, while price increases may offset VAT cost pressures, retail jewelers' sales are still anticipated to be affected [1] - In the collectible toy segment, the next catalyst for Pop Mart (09992) may come from IP developments beyond Labubu [1]