Core Insights - The company reported a revenue of RMB 3.24 billion for the six months ending June 30, 2025, representing a year-on-year increase of 21.56% [1] - The profit attributable to the owners of the parent company was RMB 183 million, a significant year-on-year increase of 113.22% [1] - Basic and diluted earnings per share were RMB 0.0684 [1] Business Strategy - The company adheres to a "community central kitchen" strategic positioning, utilizing a multi-channel and multi-scenario approach to meet consumer demands [1] - The company has developed an extensive instant retail store network, increasing the number of stores from 9,660 on June 30, 2024, to 10,400 on June 30, 2025, covering all 31 provinces, autonomous regions, and municipalities in China [1] Market Expansion - The company has made significant progress in expanding its store presence in lower-tier markets, adding 270 new stores in rural areas during the first half of 2025 [1] - New rural stores differ in product structure and display from standard community stores, better catering to the needs of rural consumers [1] Innovation and Technology - To enhance service for home dining scenarios, the company has launched a new type of 24-hour unmanned retail store [1] - Over 2,000 retail stores have undergone smart and unmanned transformations in the first half of 2025 [1]

锅圈(02517)公布，张启昌先生已辞任该公司的联席公司秘书、法律程序文件代理人及授权代表，自 2025年8月4日起生效。方圆已提名林庚墀先生代替张启昌先生担任公司其中一位联席公司秘书、法律程 序文件代理人及授权代表，自2025年8月4日起生效。王晖先生已担任并将继续留任为另一名联席公司秘 书。 ...

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。 GUOQUAN FOOD (SHANGHAI) CO., LTD. 於本公告中，「我們」指本公司或如文義所指，為本集團。 業務回顧及展望 鍋圈食品（上海）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：2517） 截至二零二五年六月三十日止六個月之 中期業績公告 二零二五年中期業績摘要 附註： 核心經營利潤界定為就非上市可轉換可贖回優先股的公允價值變動損益做出調整後的淨利潤。 核心經營利潤並非國際財務報告準則計量。詳情請參閱本公告「管理層討論及分析－非國際財 務報告準則計量」一節。 1 • 截至二零二五年六月三十日止六個月的收入為人民幣3,239.7百萬元，同比增 加21.6%。 • 截至二零二五年六月三十日止六個月的毛利為人民幣717.4百萬元，同比增加 17.8%。截至二零二五年六月三十日止六個月的毛利率為22.1%，去年同期為 22.8%。 • 截至二零二五年六月三十日止六個 ...

智通财经APP讯，锅圈(02517)公布，张启昌先生已辞任该公司的联席公司秘书、法律程序文件代理人及 授权代表，自2025年8月4日起生效。方圆已提名林庚墀先生代替张启昌先生担任公司其中一位联席公司 秘书、法律程序文件代理人及授权代表，自 2025年8月4日起生效。王晖先生已担任并将继续留任为另 一名联席公司秘书。 ...

鍋圈食品（上海）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：2517） 更換聯席公司秘書、法律程序文件代理人及授權代表 及 豁免嚴格遵守上市規則第3.28及8.17條 更換聯席公司秘書、法律程序文件代理人及授權代表 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。 GUOQUAN FOOD (SHANGHAI) CO., LTD. 林庚墀先生為方圓企業服務集團（香港）有限公司的助理經理，林先生持有香港都 會大學的企業管治碩士學位和英國布拉德福德大學的工商管理學士學位。彼為是 香港公司治理公會的資深會員，擁有超過10年公司秘書行業的工作經驗。 豁免嚴格遵守上市規則第3.28及8.17條 鍋圈食品（上海）股份有限公司（「本公司」，連同其附屬公司，統稱為「本集團」） 董事會（「董事會」）宣佈，本公司已委聘方圓企業服務集團（香港）有限公司（「方 圓」）向本公司提供公司秘書服務支援，而自2024年起，方圓已提名張啟昌先生 （「張先生」） ...

Core Viewpoint - The company, Guoquan, is a leading supplier of home hot pot and barbecue food in China, focusing on providing affordable meal solutions for families, and has successfully expanded its store network and improved its supply chain and digital operations, achieving significant revenue growth [1][2]. Group 1: Company Overview - Guoquan has positioned itself in the high-standardized and high-demand categories of hot pot and barbecue, launching a new retail format for consumer food ingredients [1]. - The company has rapidly expanded to over 10,000 stores by capitalizing on the rising brand awareness, increased home dining scenarios, and the upgrading of lower-tier markets [1]. - As of 2024, the company's revenue is projected to reach 6.47 billion yuan, with a compound annual growth rate (CAGR) of approximately 22% from 2020 to 2024 [1]. Group 2: Market Potential - The market for home meal products in China is vast, with a market size of 367.3 billion yuan in 2022 and a CAGR of 25.5% from 2018 to 2022, driven by the demand for convenience and cost-effective meal solutions [1][2]. - The company aims to provide affordable home meal products and services, reflecting the growing consumer preference for value [1]. Group 3: Competitive Landscape - The home meal product market in China is characterized by low standardization and high diversity, with a fragmented supply due to low industry barriers [2]. - In 2022, the top five companies in the home meal product market had a combined market share of approximately 11.1%, with Guoquan holding the largest share at around 3% [2]. Group 4: Growth Strategy - The company generates over 80% of its revenue from sales to franchisees, making the sales performance and expansion intentions of franchisees critical for future revenue growth [2]. - Guoquan plans to open an additional 10,000 stores over the next five years, with nearly 50% of these located in county-level and below markets, indicating significant growth potential in rural areas [2]. - The company is also focusing on product category expansion and innovative scenarios to enhance same-store sales, particularly through high-frequency, low-ticket items [2]. Group 5: Profitability Forecast - The projected net profits for the company from 2025 to 2027 are 389 million yuan, 480 million yuan, and 588 million yuan, representing year-on-year growth rates of 69%, 23%, and 22% respectively [3]. - The current price-to-earnings (PE) ratios for 2025, 2026, and 2027 are approximately 24, 19, and 16 times, respectively, indicating a favorable valuation compared to similar companies in the industry [3].

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: 鍋圈食品(上海)股份有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 本月底法定/註冊股本總額： RMB 2,747,360,400 FF301 第 1 頁 共 10 頁 v 1.1.1 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 | H | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02517 | 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 | | | 2,654,560,000 | | 92,800,400 | | 2,747,360,400 | | 增加 / 減少 (-) | | | | | | | | | 本月底結存 | | | ...

Core Viewpoint - A strategic cooperation intention has been reached between China Supply and Marketing Group and Guoquan Food, focusing on comprehensive collaboration in agricultural product circulation, channel co-construction, and brand co-creation to build a modern urban-rural integrated circulation system [1] Group 1 - The partnership aims to enhance agricultural product circulation [1] - Both companies will work together on channel development [1] - The collaboration includes joint brand creation efforts [1]

Market Overview - The Shanghai Composite Index rose by 0.7%, with the CSI 300 also increasing by 0.7%, the STAR Market 50 up by 1.2%, the CSI 1000 up by 1.4%, and the ChiNext Index up by 1.5% on Thursday [5][6] - The best-performing sectors included beauty care (+3.1%), non-ferrous metals (+2.8%), steel (+2.7%), retail (+2.6%), and non-bank financials (+2.1%), while the worst performers were banks (-1.4%), telecommunications (-0.2%), utilities (-0.1%), oil and petrochemicals (0.0%), and home appliances (+0.1%) [5][6] - The total trading volume in the Shanghai and Shenzhen markets was 1.8447 trillion yuan, with net inflows of 3.72 billion HKD from southbound funds [5][6] Key Recommendations Company: Guoquan (02517) - Guoquan is the largest in-home meal brand in China with 10,150 stores as of 2024, driven by a high-density store model and standardized supply [7][8] - The company is expected to achieve a revenue CAGR of 21.5% from 2020 to 2024, with over 51% of its stores located in lower-tier cities [7][8] - The penetration rate of prepared foods is projected to grow at a CAGR of 20.7%, reaching 15.0% by 2028, enhancing single-store revenue potential [7][8] Company: Lianlian Digital (02598) - Lianlian Digital is a leading global cross-border payment service provider with a focus on Web3 and the only company to obtain a VATP license [10][11] - The company is expected to see a revenue CAGR exceeding 30% from 2024 to 2027, with potential for growth to over 50% due to Web3 developments [10][11] - The current price corresponds to a PS ratio of 7.7x for this year, decreasing to 5.7x by 2026, with global stablecoin-related valuations ranging from 10-15x [10][11] Company: Jack Sewing Machine (603337) - Jack Sewing Machine is positioned to benefit from the recovery of the sewing equipment industry and the shift of the textile industry to Southeast Asia [12][13] - The company is expected to achieve revenue of 7,113 million yuan in 2025, with a growth rate of 16.73%, and a net profit of 1,080 million yuan [12][13] - The introduction of humanoid robots in the garment manufacturing sector could create a market space exceeding 600 billion yuan [12][13] Important Commentary Company: Hanyi Co., Ltd. (301270) - Hanyi Co., Ltd. announced the acquisition of a 39% stake in Shanghai Pidong for 67.3 million yuan, with an overall valuation of 262 million yuan [15] - This acquisition marks a strategic shift from a tool software provider to a cultural consumption ecosystem platform [15]

Market Overview - The market is experiencing an upward trend without negative news, with Hong Kong stocks jumping 1.33% today [1] - Insurance companies are adjusting product pricing in response to market interest rates, leading to a decrease in liability costs and an increase in equity allocation [1] - Regulatory changes allow insurance companies more flexibility in asset allocation, boosting their profitability [1] Securities Sector - The approval of the U.S. Stablecoin Innovation Act is expected to catalyze the securities sector, with Tether's USDT market cap surpassing $160 billion [2] - The anticipated signing of an executive order by President Trump could allow significant investments in alternative assets, including stablecoins [3] AI and Technology - The upcoming World Artificial Intelligence Conference (WAIC) will showcase advancements in AI infrastructure, including Huawei's new AI computing technology [7] - The launch of the H20 chip for sale in China is expected to boost demand for AI applications, with companies like Tencent and ByteDance placing orders [4] Performance of Specific Companies - China Life and China Pacific Insurance saw stock increases of over 5% due to favorable market conditions [1] - Companies like JD Health and Ant Group are planning to apply for stablecoin licenses in Hong Kong, indicating a shift towards digital currency [2] - Goldwind Technology reported a 35.72% increase in revenue for Q1 2025, driven by strong order growth and international expansion [9] Industry Trends - The rare earth sector is experiencing significant profit growth, with companies like Huahong Technology and Northern Rare Earth projecting substantial increases in net profit [4] - The wind energy market is expected to see high growth, with Goldwind's international business expanding across six continents [10]