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: 敏華控股有限公司 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) | 01999 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.4 HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.4 HKD | | 2,000,000,000 | 本月底法定/註冊股本總額： HKD 2,000,000,000 FF301 第 ...

来源：环球网 11月2日，备受期待的井木装饰全国首家旗舰店于北京十里河美联天地盛大开业。在众多行业嘉宾与首 批意向客户的热烈掌声与瞩目下，开业盛典正式启幕，标志着由上市企业敏华控股打造的这家一站式设 计型个性化整装品牌，正式扬帆起航，开启赋能中国家庭美好生活的全新征程。 开业典礼现场，中国建筑装饰协会、全联家具装饰业商会、北京家居行业协会代表、敏华控股高层领 导、十里河美联天地家居商城领导及战略合作品牌商齐聚一堂，共同见证这一里程碑时刻。 全国工商联家具装饰业商会副秘书长、西海基石教育集团总裁谢鑫在致辞中表示，当前家装行业正迎来 历史性转折，消费者对家装企业提出了全新要求，传统家装模式面临转型挑战。 谢鑫副秘书长在走访全国数百家家装门店后认为，井木装饰的创新模式令人耳目一新。他指出："井木 打破了传统家装公司的展示逻辑，完全从消费者真实需求出发，通过改变玄关、卫生间等空间的功能展 示，重构了施工体系和成本结构，这种创新代表着行业未来发展方向。"井木装饰的核心团队在家装行 业深耕十余年，既深刻理解消费者需求，又清楚传统家装行业的弊端，同时具备实现行业蝶变的专业能 力。此外，他高度期待敏华控股与井木装饰的战略合作 ...

Core Insights - The grand opening of the first flagship store of Jingmu Decoration marks a significant milestone in the home decoration industry, initiated by the publicly listed company Minhua Holdings [1][26] - Jingmu Decoration aims to empower Chinese families with a new journey towards a better life through personalized and one-stop design solutions [1][26] Industry Trends - The home decoration industry is undergoing a historic transformation, with consumers demanding new standards from home decoration companies, leading to challenges for traditional models [5][7] - The shift from merely meeting basic decoration needs to ensuring future living comfort is driving companies to upgrade from providing single products to building robust support systems [7][9] Company Innovations - Jingmu Decoration's innovative model breaks traditional display logic by focusing on real consumer needs and reconstructing the construction system and cost structure [5][7] - The company emphasizes a modular delivery and seamless operation system, ensuring that design, construction, procurement, and installation are well-coordinated [17][19] Strategic Collaborations - Jingmu Decoration has signed strategic cooperation agreements with industry leaders, including Minhua Holdings and Zhongju Culture, to enhance product supply chains and brand content development [19][21] - The collaboration aims to provide higher quality one-stop home solutions and drive innovation in the industry [19][21] Market Impact - The opening of Jingmu Decoration's flagship store injects strong confidence into the market, showcasing the company's potential backed by Minhua Holdings' brand, capital, and supply chain advantages [9][11] - The company is positioned to become a new benchmark for high-quality development in the home decoration industry, promoting a healthy and win-win industrial ecosystem [9][11]

敏华控股(01999)发布公告，有关公司间接非全资附属公司锐迈科技股份有限公司(锐迈科技)可能进行分 拆事宜。于2025年10月30日，锐迈科技已向全国中小企业股份转让系统(新三板)的运营机构全国中小企 业股份转让系统有限责任公司(全国股转公司)提交申请，拟于新三板独立挂牌交易，并于2025年10月31 日获全国股转公司受理。 ...

智通财经APP讯，敏华控股(01999)发布公告，有关公司间接非全资附属公司锐迈科技股份有限公司(锐 迈科技)可能进行分拆事宜。于2025年10月30日，锐迈科技已向全国中小企业股份转让系统(新三板)的运 营机构全国中小企业股份转让系统有限责任公司(全国股转公司)提交申请，拟于新三板独立挂牌交易， 并于2025年10月31日获全国股转公司受理。 ...

格隆汇10月31日丨敏华控股(01999.HK)公告，于2025年10月30日，锐迈科技已向全国中小企业股份转让 系统("新三板")的运营机构全国中小企业股份转让系统有限责任公司提交申请，拟于新三板独立挂牌交 易，并于2025年10月31日获全国股转公司受理。 ...

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佈的內容概不 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 佈 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。 MAN WAH HOLDINGS LIMITED 敏華控股有限公司 （於百慕達註冊成立的有限公司） （股份代號：01999） 公 佈 建議銳邁科技於新三板掛牌 本 公 佈 乃 由 敏 華 控 股 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）董 事 會（「董事會」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第15項 應 用 指 引 而 作 出。 建議於新三板掛牌 茲 提 述 本 公 司 於 二 零 二 二 年 六 月 十 三 日 刊 發 之 公 佈，內 容 有 關 本 公 司 間 接 非 全 資 附 屬 公 司 銳 邁 科 技 股 份 有 限 公 司（「銳邁科技」）可 能 進 行 分 拆 事 宜。 董 事 會 欣 然 宣 佈，於 二 零 二 五 年 十 月 三 十 日，銳 ...

Core Viewpoint - JD.com and ZhiHuaShi are collaborating to enhance consumer price protection during the 11.11 shopping festival, emphasizing their commitment to providing competitive pricing and safeguarding user rights through a newly established price guarantee fund of 5 million yuan [1][2][4]. Group 1: Price Protection Initiatives - JD.com launched a live broadcast event to reinforce its commitment to low prices and consumer rights during the 11.11 shopping period [1]. - ZhiHuaShi's General Manager announced a joint investment of 5 million yuan to create a "Price Guarantee Fund," ensuring competitive pricing and compensation for price discrepancies found on other platforms [2]. - The initiative aims to build a "price protection wall" for consumers, ensuring they can purchase products at competitive prices on JD.com [3]. Group 2: Industry Impact - The collaboration between JD.com and ZhiHuaShi is seen as a step towards addressing the chaotic promotional policies and pricing confusion prevalent in the e-commerce industry [4]. - This partnership is expected to foster a healthier competitive environment in the e-commerce sector, promoting rational competition and value-based practices [4].

Core Viewpoint - UBS has raised its earnings per share estimates for Minmetals Holdings (01999) for the fiscal years 2026 to 2028 by 12%, 9%, and 11% respectively, indicating that negative factors have already been reflected in the stock price [1] Group 1: Earnings Estimates - UBS expects that the negative factors affecting Minmetals Holdings have been fully reflected in the stock price, leading to an upward revision of earnings estimates [1] - The revised earnings per share estimates for fiscal years 2026, 2027, and 2028 are increased by 12%, 9%, and 11% respectively [1] Group 2: Valuation and Target Price - The target price for Minmetals Holdings has been raised from HKD 4.3 to HKD 5.5, reflecting a more favorable outlook [1] - The rating has been upgraded from "Neutral" to "Buy," indicating increased confidence in the stock's performance [1] Group 3: Market Conditions - The report suggests that while a turning point in the Chinese market may take longer to materialize, the domestic real estate situation is not expected to lead to a downward revaluation [1] - The potential for increased demand from the U.S. due to interest rate cuts may provide upward momentum for both fundamentals and valuations [1] - Despite uncertainties from tariffs, there may be opportunities for market share growth, contributing to a more positive outlook for Minmetals Holdings [1]

Core Viewpoint - UBS has upgraded its outlook on Minhua Holdings, citing that the negative factors affecting the company's stock price have already been reflected, and potential growth opportunities may arise from market share gains despite uncertainties from tariffs [1] Group 1: Stock Performance - Minhua Holdings' stock rose over 3%, currently trading at 4.71 HKD with a transaction volume of 30.6354 million HKD [1] Group 2: Market Conditions - The ongoing weakness in the domestic real estate market has been fully reflected in Minhua Holdings' stock price [1] - A potential increase in demand from the U.S. is anticipated due to interest rate cuts [1] Group 3: Financial Projections - UBS has raised its earnings per share estimates for Minhua Holdings for the fiscal years 2026 to 2028 by 12%, 9%, and 11% respectively [1] - The current low valuation is expected to provide upward potential for both fundamentals and valuations, even if a market turnaround in China takes longer than expected [1]