Group 1 - The core point of the article highlights that southbound funds have reduced their holdings in Shenzhou International (02313.HK) by 680,900 shares on February 11, with a total net reduction of 3,935,900 shares over the last five trading days [1] - Over the past 20 trading days, there have been 12 days of net reductions in holdings by southbound funds, totaling 3,307,900 shares [1] - As of now, southbound funds hold 10.2 million shares of Shenzhou International, which represents 6.77% of the company's total issued ordinary shares [1] Group 2 - Shenzhou International Group Holdings Limited primarily engages in the production and sale of knitted apparel products, operating as an investment holding company [1] - The company's main business involves manufacturing knitted products for clients through a combination of Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM) [1] - Product categories include sportswear, casual wear, underwear, and other knitted products, with operations conducted in both domestic and international markets [1]

Group 1 - The Hong Kong Consumption ETF (159735) closed down 0.57% on February 11, with a trading volume of 74.23 million yuan [1] - The fund was established on May 25, 2021, with a management fee of 0.50% per year and a custody fee of 0.10% per year [1] - As of February 10, 2023, the latest share count of the ETF was 1.09 billion shares, with a total size of 958 million yuan, reflecting an 18.49% increase in shares and a 31.90% increase in size year-to-date [1] Group 2 - The ETF's recent trading activity shows a cumulative trading amount of 1.956 billion yuan over the last 20 trading days, with an average daily trading amount of 97.78 million yuan [1] - Year-to-date, the ETF has recorded a cumulative trading amount of 2.512 billion yuan over 28 trading days, with an average daily trading amount of 89.72 million yuan [1] - The current fund manager is Li Yixuan, who has managed the fund since its inception, with a return of -12.98% during the management period [1] Group 3 - The top holdings of the Hong Kong Consumption ETF include Pop Mart, Yum China, Anta Sports, Nongfu Spring, WH Group, Haier Smart Home, Shenzhou International, Midea Group, Li Ning, and Mengniu Dairy, with respective holding percentages [2] - Pop Mart holds the largest share at 10.42%, followed by Yum China at 9.09% and Anta Sports at 7.76% [2] - The total market value of the top holdings varies, with Pop Mart valued at approximately 75.68 million yuan and Yum China at approximately 66.02 million yuan [2]

Group 1 - The top three stocks with the highest short-selling ratios are New World Development Co. Ltd. (80016) at 100.00%, SenseTime Group Inc. (80020) at 80.12%, and Great Wall Motor Co. Ltd. (82333) at 75.14% [1][2] - The highest short-selling amounts are recorded for Xiaomi Corporation (01810) at 1.731 billion, Alibaba Group Holding Ltd. (09988) at 1.550 billion, and Meituan (03690) at 1.518 billion [1][3] - The top three stocks with the highest deviation values are New World Development Co. Ltd. (80016) at 44.46%, SenseTime Group Inc. (80020) at 35.88%, and China National Offshore Oil Corporation (80883) at 26.39% [1][3] Group 2 - The detailed short-selling ratio rankings show New World Development Co. Ltd. (80016) leading with a short-selling amount of 345,900 and a deviation value of 44.46% [2][3] - SenseTime Group Inc. (80020) follows with a short-selling amount of 257,500 and a deviation value of 35.88% [2][3] - Great Wall Motor Co. Ltd. (82333) has a short-selling amount of 70,700 and a deviation value of -3.29% [2] Group 3 - The short-selling amount rankings indicate Xiaomi Corporation (01810) at 1.731 billion with a short-selling ratio of 39.72% and a deviation value of 21.05% [3] - Alibaba Group Holding Ltd. (09988) has a short-selling amount of 1.550 billion with a short-selling ratio of 16.68% and a deviation value of 4.47% [3] - Meituan (03690) shows a short-selling amount of 1.518 billion with a short-selling ratio of 39.18% and a deviation value of 22.10% [3]

Investment Rating - The report maintains a positive outlook on the textile and apparel industry, indicating a "Look Favorably" investment rating [2]. Core Insights - The textile and apparel sector outperformed the market, with the SW textile and apparel index rising by 1.3% from February 2 to February 6, 2026, surpassing the SW All A index by 2.9 percentage points [3][4]. - The report highlights the impact of the Milan Winter Olympics on the sportswear market, suggesting that the event will catalyze interest in winter sports and boost sales for brands involved in the Olympics [10][11]. Summary by Sections Industry Performance - The SW apparel and home textiles index increased by 2.2%, outperforming the SW All A index by 3.8 percentage points, while the SW textile manufacturing index also rose by 2.2%, exceeding the SW All A index by 3.7 percentage points [3][4]. Recent Industry Data - Retail sales in China for the year reached 50.12 trillion yuan, a year-on-year increase of 3.7% [28]. - In December, textile and apparel exports amounted to $25.99 billion, reflecting a year-on-year decline of 7.4% [34]. - Cotton prices showed a slight decrease, with the national cotton price B index at 15,908 yuan per ton, down 0.2% [39]. Textile Insights - The report expresses confidence in the long-term cycle of Australian wool prices, which stabilized at 1,177 cents per kilogram, with a year-on-year increase of 54.9% [10][41]. - Supply constraints are evident, with a projected 10.3% decrease in the Australian sheep population for the 2025/26 season [10]. Apparel Insights - The opening of the Milan Winter Olympics is expected to enhance marketing opportunities for sports brands, with notable partnerships such as Li Ning and Anta providing official gear for their respective national teams [11][12]. - The report recommends focusing on brands like Li Ning, Anta, and 361 Degrees, which are expected to benefit from increased consumer interest in winter sports [11]. Market Trends - The report anticipates a gradual recovery in domestic demand throughout 2026, with a focus on high-performance outdoor apparel and discount retail [14]. - The competitive landscape is evolving, with brands seeking innovation in channels and products to adapt to changing consumer preferences [14][15].

Group 1: Core Insights - The 2026 FIFA World Cup in North America is set to begin in June, with significant pre-event sales of related sports merchandise already observed in Yiwu, China [1] - Yiwu's sports goods and equipment exports reached 11.65 billion yuan in 2025, marking a 20.3% year-on-year increase, with major export markets including the USA, Brazil, and Saudi Arabia [1] - The upcoming World Cup is expected to generate a consumption boom, benefiting local manufacturers and suppliers in Yiwu, which has historically capitalized on major sporting events [1] Group 2: Industry Impact - Analysts predict a surge in demand for sports-related products during the World Cup, directly benefiting the performance of related companies [2] - The commercial value of the World Cup exceeds $30 billion, significantly higher than other sports events, indicating strong economic activity linked to the tournament [2] - Investment opportunities are identified in four main areas: lottery sales and operators, sports venue facilities and equipment suppliers, electronic display providers, and leisure food and beverage suppliers [2] Group 3: Related Companies - Anta Sports (02020) has acquired Puma, a major sponsor of the 2026 World Cup, and holds partnerships with top clubs like Manchester City and AC Milan [3] - Shenzhou International (02313) manufactures football apparel for brands like Nike and Adidas, ensuring stable order flow [3] - Hisense (00921) is a global official sponsor of the 2026 World Cup, marking its third consecutive sponsorship [4] - Yongjia Group (03322) specializes in manufacturing fan scarves and flags, positioning itself as a core enterprise in the Yiwu supply chain [5] - Rainbow International Group (02678) supplies high-quality fabrics for football apparel related to the World Cup [6]

Group 1: Market Overview - The 2026 FIFA World Cup will commence in June, with significant demand for related sports products already observed in Yiwu, China, starting from May 2025 [1] - Yiwu's exports of sports goods and equipment reached 11.65 billion yuan in 2025, marking a 20.3% year-on-year increase, with major export markets including the USA, Brazil, and Saudi Arabia [1] - Yiwu has historically benefited from major sporting events, with a significant share of the global market for World Cup-related merchandise, accounting for 70% during the last World Cup [1] Group 2: Company Insights - Anta Sports (02020) has acquired Puma, the third-largest sponsor for the 2026 World Cup, and holds resources from top clubs like Manchester City and AC Milan [3] - Shenzhou International (02313) is a stable supplier for Nike and Adidas, producing football apparel with strong order stability [3] - Hisense (00921) is the global official sponsor for the 2026 World Cup, marking its third consecutive sponsorship [4] - Yongjia Group (03322) manufactures fan scarves and flags, positioning itself as a core enterprise within the Yiwu industrial chain [5] - Tianhong International Group (02678) supplies high-quality fabrics for football apparel related to the World Cup [6] Group 3: Investment Opportunities - Analysts suggest that companies related to sports goods will benefit directly from the World Cup, with a focus on four investment themes: lottery sales and operators, sports venue facilities and equipment suppliers, electronic display providers, and leisure food and beverage suppliers [2]

FF301 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: 2026年1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: 申洲國際集團控股有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2026年2月2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) | 02313 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,000,000,000 | HKD | | 0.1 HKD | | 300,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 3,000,000,000 | HKD | | 0.1 HKD | | 300,000,000 | 本月底 ...

Group 1 - The core viewpoint of the article highlights the increase in southbound capital holdings in Shenzhou International (02313.HK), with a net increase of 1.09 million shares over the past five trading days [1] - In the last 20 trading days, there have been 10 days of net increases in southbound capital, totaling 704,700 shares [1] - As of now, southbound capital holds 10.6 million shares of Shenzhou International, accounting for 7.02% of the company's total issued ordinary shares [1] Group 2 - Shenzhou International Group Holdings Limited primarily engages in the production and sale of knitted apparel products [1] - The company's main business model combines OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer) to manufacture knitted products for clients [1] - The product categories include sportswear, casual wear, underwear, and other knitted products, with operations in both domestic and international markets [1]

Investment Rating - The industry investment rating is "Positive" and maintained [7] Core Insights - December orders for sports footwear and apparel showed a month-on-month decline, indicating that the overall industry has not yet reached an inflection point. Retail performance in the US and UK remains resilient, while demand in other regions is stagnant. The decline in the US consumer confidence index has not yet impacted brand and upstream performance, primarily due to growth being driven by high-end consumption, with mass apparel consumption still expected to recover [2][4][21] - Vietnam's footwear and apparel exports improved significantly in December, while China continues to face pressure. The upstream manufacturing sector is expected to have stronger earnings certainty in the first half of 2026, with a clear direction for recovery in the downstream sports supply chain. Brand apparel revenues are expected to fluctuate in Q4 2025, with profitability anticipated to recover in 2026 [2][5][29] Summary by Sections Manufacturing Performance - In December, the revenue performance of footwear manufacturers showed a year-on-year decline, with specific companies reporting: - Yuanyuan Group: -3.7% YoY, -1.3 percentage points MoM - Fengtai: -0.6% YoY, +11.2 percentage points MoM - Zhijiang International: -2.8% YoY, -5.9% MoM - Yuchi-KY: -2.2% YoY, -8.8% MoM - For apparel manufacturers: - Ruhong: -3.6% YoY, -5.1% MoM - Juyang Industrial: -9.2% YoY, -9.7% MoM - Guangyue: +9.7% YoY, -22.1% MoM [4][16][29] Demand Analysis - Retail performance in December showed resilience in the US and UK, while other regions experienced stagnation. The US consumer confidence index continues to decline, which has not yet reflected in brand and upstream performance. The growth is mainly driven by high-end consumption, with mass apparel consumption still expected to recover [2][21][26] Recommendations - The report recommends focusing on upstream manufacturing, as the performance in the first half of 2026 is expected to be more certain. The recovery direction of the sports supply chain is clear. Key recommended stocks include: - New Australia Holdings, Crystal International, Shenzhou International, and Yuanyuan Group - Attention should also be given to high-elasticity stocks like Nobon and Jeya, as well as undervalued stocks with strong safety margins like Taihua New Materials and Lutai A [5][29][30]

Core Viewpoint - Shenzhou International (02313.HK) will hold a board meeting on March 30, 2026, to approve the financial results for the fiscal year ending December 31, 2025, and to consider the distribution and payment of the final dividend, if any [1] Group 1 - The board meeting is scheduled for 11:00 AM on March 30, 2026 [1] - The meeting will focus on approving the financial performance of the company and its subsidiaries for the fiscal year ending December 31, 2025 [1] - The board will also consider the proposal for the final dividend distribution [1]