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30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 卡羅特（商業）有限公司 呈交日期: 2025年12月3日 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 | 不適用 | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02549 | 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 | | | 550,801,100 | 4,201,500 | | 555,002,600 | | 增加 / 減少 (-) | | | 0 | | 0 | | | 本月底結存 | | | 550,801,100 | 4,201,500 | | 555,002,600 | 第 2 頁 共 10 頁 v 1.1.1 I. 法 ...

Core Viewpoint - Shandong Kakarote International Trade Co., Ltd. has been established with a registered capital of 3 million RMB, focusing on various sectors including import-export, wind power systems, and mechanical equipment development [1] Company Overview - The company is legally represented by Wang Kuan [1] - The registered capital is 3 million RMB [1] Business Scope - The business scope includes general projects such as: - Import and export of goods [1] - Research and development related to wind power plants [1] - Manufacturing and sales of general and specialized mechanical equipment [1] - Sales and repair of electrical equipment [1] - Manufacturing and sales of environmental protection equipment [1] - Technical services, development, consulting, and technology transfer [1] - Sales of automotive products and components [1] - New material technology promotion services [1] - Rental of mechanical equipment [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10月31日 狀態: 新提交 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 致：香港交易及結算所有限公司 公司名稱: 卡羅特（商業）有限公司 呈交日期: 2025年11月5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) | 02549 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.0005 | USD | | 1,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 2,000,000,000 | USD | | ...

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9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 卡羅特（商業）有限公司 呈交日期: 2025年10月6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) | 02549 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.0005 | USD | | 1,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.0005 | USD | | 1,000,000 | 本月底法 ...

Core Viewpoint - Yili Investment Holdings Ltd plans to increase its stake in Carrot (02549) by no less than HKD 20 million within six months, reflecting confidence in the company's future growth potential [1] Group 1: Shareholding Details - Yili Investment currently holds 400 million shares, representing approximately 72.62% of the company's issued shares (excluding treasury shares) [1] - The shareholding increase plan indicates a long-term commitment and strong confidence from the controlling shareholder regarding the company's prospects [1] Group 2: Public Shareholding - The company assures that the implementation of the shareholding increase plan will maintain sufficient public float of the issued shares [1]

Core Viewpoint - Yili Investment Holdings Ltd plans to increase its stake in Carrot (02549.HK) by no less than HKD 20 million within six months, reflecting confidence in the company's value and growth potential [1] Group 1: Shareholding Details - As of the announcement date, Yili Investment holds a total of 400 million shares, representing approximately 72.62% of the company's issued shares (excluding treasury shares) [1] - The company board believes that the shareholding increase plan will maintain sufficient public float of the issued shares [1] Group 2: Management Confidence - The board views Yili Investment's plan as a demonstration of the controlling shareholder's long-term commitment and strong confidence in the group's future prospects [1]

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。 CAROTE LTD 卡 羅 特（ 商 業 ）有 限 公 司 （於 開 曼 群 島 註 冊 成 立 的 獲 豁 免 有 限 公 司） （股 份 代 號：2549） 自願公告 控股股東擬增持股權 本 公 告 乃 由 卡 羅 特（商 業）有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本 集 團」）自 願 作 出。 本公司董事（「董事」）會（「董事會」）接獲本公司控股股東Yili Investment Holdings Ltd（「Yili Investment」）通 知，基 於 對 本 公 司 價 值 的 認 可 和 對 本 公 司 未 來 整 體 業 務 發 展 及 增 長 潛 力 的 信 心，Yili Investment計劃自本公告日期起計 六 個 月 內 增 持 本 公 司 股 權，金 額 不 低 於20百 萬 港 ...

Market Trends - The global kitchenware industry experienced strong growth in 2025, driven by increased disposable income, urbanization, and the rising popularity of home cooking and dining experiences [11]. - The company reported a significant increase in demand for eco-friendly, non-toxic, and multifunctional kitchenware products, reflecting a growing consumer focus on sustainability and health [11]. - The expansion of e-commerce platforms has made kitchenware products more accessible, contributing to market growth [11]. - The company is focusing on developing innovative products that integrate smart technology to meet modern consumer preferences [11]. - The company is committed to sustainability and innovation as key market trends, aligning product development with consumer expectations [11]. Strategic Focus - The company is strategically prioritizing the development of markets in the United States and Japan, where brand presence is strongest, to mitigate risks associated with a broad global layout [11]. - The company aims to concentrate resources on the most promising regions while reducing risks associated with a lack of focus in global operations [11]. - The company plans to focus resources on the U.S., Japan, and China markets, temporarily halting new business development in Southeast Asia, India, and Western Europe [18]. - A multi-brand strategy will be initiated in the U.S. market in Q4, with plans to expand to China and Japan subsequently [18]. Financial Performance - Total revenue for the reporting period was approximately RMB 836.9 million, a decrease of about 12.4% compared to RMB 955.2 million in the same period last year [18]. - Brand business revenue decreased from approximately RMB 840.4 million to RMB 777.6 million, a year-on-year decline of about 7.5% [20]. - Revenue from the ODM business fell by 48.3%, from RMB 114.8 million to RMB 59.3 million [19]. - Revenue from the U.S. market increased by 4.0%, reaching approximately RMB 529.4 million, accounting for 68.1% of total brand business revenue [21]. - Revenue from the Japanese market grew by 13.6%, amounting to approximately RMB 58.3 million, representing 7.5% of total brand business revenue [21]. - Gross profit decreased from approximately RMB 395.2 million for the six months ended June 30, 2024, to approximately RMB 281.6 million for the same period in 2025, a decline of about 28.7% [24]. - The gross margin for brand business dropped from approximately 45.4% in 2024 to approximately 35.3% in 2025, primarily due to increased costs from tariffs imposed by the U.S. [24]. - Net profit for the period decreased by approximately 37.4% from RMB 164.1 million in the first half of 2024 to RMB 102.8 million in the first half of 2025, with a net profit margin dropping from 17.2% to approximately 12.3% [34]. Cost Management - Sales costs slightly decreased by 0.8% from approximately RMB 559.9 million to RMB 555.3 million, primarily due to reduced costs from lower revenue and decreased tariff and freight costs [23]. - Sales expenses decreased by approximately 4.7% from RMB 159.7 million in the first half of 2024 to RMB 152.2 million in the first half of 2025, mainly due to reduced marketing and promotional expenses in Europe and Southeast Asia [25]. - Administrative expenses fell by approximately 33.1% from RMB 29.0 million in 2024 to RMB 19.4 million in 2025, attributed to the absence of listing expenses during the reporting period [26]. - Research and development expenses decreased by approximately 16.0% from RMB 21.2 million in 2024 to RMB 17.8 million in 2025, mainly due to a slight reduction in materials used for ongoing R&D projects [27]. Inventory and Receivables - Inventory increased by approximately 11.5% from RMB 154.8 million as of December 31, 2024, to RMB 172.7 million as of June 30, 2025, with average inventory turnover days rising from 38.8 days in 2024 to 53.1 days in 2025 [37]. - Trade receivables increased by approximately 20.6% from RMB 85.8 million as of December 31, 2024, to RMB 103.4 million as of June 30, 2025, with average turnover days increasing from 14.1 days to 20.3 days [38]. Cash Flow and Financial Position - Cash used in operating activities was approximately RMB 18.7 million for the six months ended June 30, 2025, a significant decrease from RMB 89.9 million in the same period of 2024, primarily due to increased cash payments to suppliers and extended collection periods for receivables [40]. - Financial income net increased by approximately 645.5% from RMB 3.4 million in the first half of 2024 to RMB 25.3 million in the first half of 2025, mainly due to higher interest income from cash deposits [30]. - The net cash used in financing activities was approximately RMB 6.6 million, a significant decrease from RMB 103.5 million in the same period of 2024 [41]. - Current assets as of June 30, 2025, were approximately RMB 1,469.5 million, compared to RMB 1,454.1 million as of December 31, 2024 [41]. - The current ratio increased slightly from approximately 3.1 as of December 31, 2024, to approximately 3.2 as of June 30, 2025 [41]. - The debt-to-equity ratio as of June 30, 2025, was approximately 0.1%, down from 0.3% as of December 31, 2024 [45]. Shareholder Information - As of June 30, 2025, Mr. Zhang holds 401,602,000 shares, representing 72.36% of the company's equity [63]. - Ms. Lu owns 400,000,000 shares, accounting for 72.07% of the company's equity [63]. - Yili Investment holds 400,000,000 shares, which is 72.07% of the company's equity [65]. - Guodong Capital has 401,602,000 shares, representing 72.36% of the company's equity [65]. - The company holds 841,000 treasury shares as of June 30, 2025 [71]. - The company repurchased a total of 29,500 shares at a maximum price of HKD 3.83 and a total payment of HKD 111,570 on April 17, 2025 [72]. - The company repurchased 248,500 shares at a maximum price of HKD 3.90 and a total payment of HKD 968,375 on April 22, 2025 [72]. Corporate Governance - The company has adopted the Corporate Governance Code to ensure high standards of corporate governance [73]. - The company has appointed Mr. Zou Xinglong as the new company secretary effective August 28, 2025 [70]. - The company's headquarters address has changed to Hangzhou, Zhejiang Province, China, effective January 20, 2025 [68]. Dividends and Shareholder Returns - The company did not recommend an interim dividend for the six months ended June 30, 2025 [77]. - The company declared a dividend of HKD 78,144,366 (approximately RMB 71,613,000) on May 30, 2025, and paid it in cash in August 2025 [112]. - The company distributed dividends of RMB 100,000 thousand to shareholders during the six months ended June 30, 2025 [92]. Accounting and Reporting Changes - The company has adopted new accounting standards effective from January 1, 2025, which are not expected to have a significant impact on its performance or financial position [156]. - The adoption of Hong Kong Financial Reporting Standard No. 18 is expected to impact the presentation of income and expenses in the income statement, although it will not affect the group's net profit [158]. - The presentation of interest received will change to be classified under investment cash flows instead of operating cash flows, effective from January 1, 2027 [159]. - Comparative information for the fiscal year ending December 31, 2026, will be restated according to Hong Kong Financial Reporting Standard No. 18 [159].

Group 1 - The company Carrot (02549) announced a share buyback plan, intending to repurchase 15,000 shares at a cost of HKD 70.5 million [1]

Core Viewpoint - Karot (02549) announced a share buyback plan, intending to repurchase 15,000 shares at a cost of HKD 70.5 million by September 23, 2025 [1] Group 1 - The company plans to spend HKD 70.5 million for the buyback [1] - The buyback involves repurchasing 15,000 shares [1] - The completion date for the buyback is set for September 23, 2025 [1]