Core Viewpoint - The company, Mixue Group, reported a significant increase in its mid-term performance for the six months ending June 30, 2025, with revenue reaching 14.875 billion RMB, a year-on-year increase of 39.32% [1] Financial Performance - Revenue for the period was 14.875 billion RMB, up 39.32% year-on-year [1] - Gross profit amounted to 4.706 billion RMB, reflecting a 38.31% increase compared to the previous year [1] - Shareholders' profit reached 2.693 billion RMB, marking a 42.9% year-on-year growth [1] - Basic earnings per share were reported at 7.23 RMB [1] Revenue Sources - The increase in revenue was primarily driven by higher sales from products and equipment, followed by income from franchising and related services [1] - The gross margin for product and equipment sales slightly decreased from 30.5% to 30.3% due to rising raw material costs and changes in revenue structure [1] - Conversely, the gross margin for franchising and related services improved from 81.7% to 82.7%, attributed to the expansion of the franchise store network enhancing economies of scale [1] Store Network Expansion - As of June 30, 2025, the company has established a vast store network with over 53,000 locations globally, providing high-quality and affordable products [2] - In mainland China, the store network spans 31 provinces, autonomous regions, and municipalities, covering over 300 prefecture-level cities and all tiered cities [2] - The company has also opened approximately 4,700 stores outside mainland China, focusing on deepening its presence in Southeast Asia and gradually expanding into new markets [2]

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。 MIXUE Group 蜜雪冰城股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2097） 截至2025年6月30日止六個月 中期業績公告 蜜雪冰城股份有限公司（「本公司」，連同其附屬公司，統稱「本集團」）董事（「董 事」）會（「董事會」）謹此公佈本公司截至2025年6月30日止六個月（「報告期」）的未 經審核綜合中期業績，連同截至2024年6月30日止六個月的比較數字。 於本公告內，「我們」指本公司，或如文義另有所指，指本集團。除本公告另有界 定者外，本公告內所用詞彙與本公司日期為2025年2月21日的招股章程（「招股章 程」）所界定者具有相同涵義。 | 中期業績摘要 | | | | | --- | --- | --- | --- | | | 截至6月30日止六個月 | | | | | （未經審核）（未經審核） | | | | | 2025年 | 2024年 | | | | 人民 ...

Group 1 - The Hong Kong stock market's new consumption concept stocks experienced a widespread decline, with notable drops in several companies [1] - Blucco (00325) saw a significant decrease of 8.27%, closing at 112.000 [2] - Other companies such as Laopu Gold (06181) and Pop Mart (09992) also faced declines of 3.44% and 2.32% respectively [2] Group 2 - Additional companies in the new consumption sector, including Qi (02517) and Weilon Delicious (09982), reported declines of 2.50% and 2.12% respectively [2] - Xpeng Motors (09868) and Li Auto (02015) experienced minor declines of 1.66% and 1.51% [2] - Other companies like Juzhi Biotechnology (02367) and Mijue Group (02097) also showed slight decreases, indicating a broader trend in the market [2]

格隆汇8月15日丨蜜雪集团(02097.HK)公布，董事会会议将于2025年8月27日（星期三）举行，藉以（其 中包括）考虑及批准本集团截至2025年6月30日止的六个月中期业绩及其发布，以及处理其他事项。 ...

蜜雪冰城股份有限公司（「本公司」）及其附屬公司（「本集團」）董事會（「董事會」） 謹此公佈，董事會會議將於2025年8月27日（星期三）舉行，藉以（其中包括）考慮 及批准本集團截至2025年6月30日止的六個月中期業績及其發佈，以及處理其他 事項。 承董事會命 蜜雪冰城股份有限公司 執行董事兼首席執行官 張紅甫先生 香港，2025年8月15日 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。 MIXUE Group 蜜雪冰城股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2097） 董事會會議通告 於本公告日期，董事會成員包括(i)執行董事張紅超先生、張紅甫先生、蔡衛淼女 士及趙紅果女士，及(ii)獨立非執行董事潘慧妍女士、朱璽先生及黃宣德先生。 ...

Investment Rating - The industry is rated positively, expecting an overall return exceeding 5% above the CSI 300 index in the next six months [19]. Core Insights - The report highlights a rebound in high-growth sectors driven by capital flow, with the food and beverage sector rising by 0.6% this week, ranking 26th among 31 sub-industries [11]. - The report emphasizes the importance of focusing on high-growth and undervalued recovery opportunities within the food and beverage sector [7]. Summary by Sections Sub-industry Ratings - No specific ratings for liquor, beverages, and food sub-industries, but several companies are recommended for investment: - Guizhou Moutai: Buy - Luzhou Laojiao: Buy - Shanxi Fenjiu: Hold - Jiansi Yuan: Hold - Yingjia Gongjiu: Hold - Dongpeng Beverage: Buy - Nongfu Spring: Buy - Mixue Group: Hold - Lihigh Food: Buy - Angel Yeast: Buy [3][18]. White Wine Sector - The white wine index increased by 0.38%, indicating a bottoming phase, with expectations for a local rebound despite ongoing policy and demand pressures [15]. - Guizhou Moutai's limited edition product sold out quickly, generating approximately 1.79 billion yuan in sales [5]. - The report suggests capitalizing on low valuation recovery opportunities in the white wine sector, recommending Guizhou Moutai, Luzhou Laojiao, Shanxi Fenjiu, and Jiansi Yuan [15]. Consumer Goods Sector - The snack and soft drink sectors have shown significant rebounds, attributed to previous valuation pressures and adjustments in mid-year expectations [16]. - Unified Enterprises reported a 10.6% revenue increase and a 33.2% net profit increase in H1 2025, exceeding market expectations [17]. - The report recommends focusing on high-growth snack and beverage companies, particularly Dongpeng Beverage, Mixue Group, and Nongfu Spring, while also considering undervalued stocks like Angel Yeast and Lihigh Food [16][17].

Core Viewpoint - The new consumption sector in the Hong Kong stock market has shown significant growth, with several companies reporting positive earnings forecasts, contributing to the overall bullish trend in this segment [3][4][6]. Group 1: Stock Performance - Pop Mart (09992.HK) rose by 7.87%, while Shangmei Co. (02145.HK) increased by 7.34%, and Laopu Gold (06181.HK) saw a rise of 5.93% [1][2]. - The New Consumption Concept Index has recorded a year-to-date increase of 64.97%, outperforming the Hang Seng Index, which has risen by 24.18% [3]. Group 2: Earnings Forecasts - Shangmei Co. expects revenue for the first half of 2025 to be between 4.09 billion to 4.11 billion yuan, a year-on-year growth of 16.8% to 17.3%, with net profit projected to reach 540 million to 560 million yuan, an increase of 30.9% to 35.8% [3]. - Laopu Gold anticipates revenue of 12 billion to 12.5 billion yuan for the first half of 2025, representing a year-on-year growth of 241% to 255%, with net profit expected to be between 2.23 billion to 2.28 billion yuan, a growth of 279% to 288% [4]. - Pop Mart forecasts a revenue increase of no less than 200% and a profit increase of no less than 350% for the first half of 2025 [5]. Group 3: Market Trends and Sentiment - Investment firms are optimistic about the new consumption sector, noting a shift towards personalized and service-oriented consumption among residents [6]. - The Hong Kong consumption sector is seen as more aligned with current new consumption trends compared to the A-share market, indicating significant growth potential [6]. - Despite the current high valuations in the new consumption sector, the macro trend towards personalized and rational consumption remains intact, suggesting continued growth in related areas such as trendy toys, beauty care, and pet products [7][8].

Market Overview - The A-share market showed strong performance with the Shanghai Composite Index steadily rising, while the Hong Kong stock market experienced a narrow fluctuation, closing up by 0.03% [1] - Concerns in the market are heightened due to the U.S. President Trump's shortened ultimatum for sanctions against Russia, now set at 10 days, with potential impacts on India and other countries [1] - The U.S. is also set to impose significant tariffs on semiconductor chips and pharmaceuticals, with drug tariffs reaching as high as 250% [1] Company Developments - Jingtai Technology announced a pipeline cooperation agreement with DoveTree worth approximately HKD 470 billion (USD 59.9 billion), leading to a stock surge of over 12% [2] - A-share company Weixin New Materials faced regulatory scrutiny after a stock price surge related to the "embodied intelligent robot" concept and control change expectations [2] - The Shanghai government released a plan for the development of the embodied intelligence industry, aiming for breakthroughs in core algorithms and technologies by 2027 [2] Industry Trends - The 2025 World Robot Conference is set to showcase over 100 new products, nearly double from last year, indicating a growing interest in robotics [3] - The U.S. student loan delinquency rate has reached 12.9%, the highest in 21 years, which may influence Federal Reserve decisions on interest rates [3] - The steel and paper industries are experiencing positive momentum, with companies like Maanshan Steel and Nine Dragons Paper seeing significant stock price increases [3] Defense Sector Insights - The military industry is gaining traction with significant contracts, such as the sale of the Hongqi-9 air defense system and the export of submarines to Pakistan [4] - China Shipbuilding Defense announced a profit increase of 213.25% to 267.73% for the first half of the year, leading to a stock rise of nearly 8% [4] Consumer Market Activity - The new consumption sector is becoming active, with companies like Pop Mart seeing increased attention at recent toy exhibitions [5] - The liquor industry is also responding to market trends, with new product launches and stock price increases [5] Aviation Sector Developments - Cathay Pacific announced an $8.1 billion order for 14 Boeing 777-9 aircraft, marking its first deal with Boeing in 12 years, despite concerns over the safety record of Boeing aircraft [7] - The long delivery timeline for the 777-9 model raises potential issues regarding aircraft aging and maintenance [7] Energy Sector Updates - The State Grid reported record electricity usage due to high temperatures, with peak load reaching 1.233 billion kilowatts, an increase of 53 million kilowatts from last year [8] - Coal prices have risen significantly, impacting the steel industry, which is maintaining high production levels [8] Automotive Sector Performance - XPeng Motors reported a record monthly delivery of 36,717 vehicles in July, a year-on-year increase of 229.4% [10] - The company is expanding its presence in Europe, with significant sales growth and new model launches [11][12]

Market Overview - The Hong Kong stock market showed mixed performance with the Hang Seng Index closing at 24,910.63 points, up 0.03% or 8.1 points, with a total turnover of HKD 215.235 billion [1] - The Hang Seng China Enterprises Index fell by 0.21% to 8,932.68 points, while the Hang Seng Tech Index rose by 0.2% to 5,532.17 points [1] - ZheShang International noted that the market fundamentals remain weak, with a cautious outlook on short-term sentiment [1] Blue Chip Performance - BYD Electronics (00285) led blue-chip stocks, rising 6.72% to HKD 37.8, contributing 3.01 points to the Hang Seng Index [2] - Other notable performers included SMIC (00981) up 3.14% and China Shenhua (01088) up 2.99%, while Li Auto-W (02015) fell 5.35% [2] Sector Highlights - Large tech stocks showed mixed results, with Tencent up 1.7% and Alibaba up 0.6%, while Xiaomi fell 0.55% [3] - The "anti-involution" theme gained traction, with paper, coal, and steel stocks generally rising, including a notable increase of over 10% for Nine Dragons Paper [3][4] - New consumption concepts performed well, with Pop Mart (09992) rising 7.87% and Shangmei (02145) up 7.34% [3] Robotics Sector - The robotics sector saw significant gains, with companies like Geekplus (02590) rising 5.68% and MicroPort (02252) up 4.07% [5] - Recent product launches and government initiatives in Shanghai are expected to accelerate the development of the robotics industry [6] Notable Stock Movements - Times Angel (06699) surged 18.29% after announcing a positive earnings forecast for the first half of 2025, expecting a net profit increase of approximately 538.1% to 604.8% [7] - Crystal Technology (02228) rose 12.42% following a significant partnership agreement worth approximately HKD 470 billion [8] - China Shipbuilding Defense (00317) increased by 7.75% due to optimistic profit forecasts based on seasonal factors in the shipbuilding industry [9] - Zhenjiu Lidu (06979) saw a strong performance despite a projected revenue decline, rising 7.89% [10] - Cathay Pacific (00293) fell 9.66% after reporting mid-year earnings that did not meet market expectations [11]

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7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: 蜜雪冰城股份有限公司 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02097 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 150,883,058 | RMB | | 1 RMB | | 150,883,058 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 150,883,058 | RMB | | 1 RMB | | 150,883,058 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) ...