Group 1 - The company announced that its H-shares will be listed on the Hong Kong Stock Exchange on November 29, 2024, raising approximately HKD 452.50 million [1] - As of November 30, 2025, approximately RMB 100.66 million of the net proceeds from the fundraising has been utilized, with around RMB 320.04 million remaining in licensed financial institutions in China [1] - The company plans to use the raised funds for upgrading production facilities, building marketing networks, and enhancing information technology [1] Group 2 - To improve the efficiency of fund usage, the company has reduced unnecessary expenses while ensuring business quality and operational stability [2] - The board of directors has re-evaluated the fundraising usage timeline, extending some fund usage deadlines to the end of 2027 [2] - A total of RMB 210 million of idle fundraising will be temporarily used to supplement the company's working capital, including RMB 70 million for production facility upgrades, RMB 90 million for marketing network construction, and RMB 50 million for information technology upgrades, with a usage period of one year [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，概不就因本公告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。 MOKINGRAN JEWELLERY GROUP CO., LTD. 夢 金 園 黃 金 珠 寶 集 團 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：2585） 將H股首次公開發售部分閑置募集資金 用於暫時補充流動資金 上市以來，為提升資金使用效益，本公司在保障業務質量與運營穩定的前提下，減少了非 必要開支。本公司董事會（「董事會」）經審慎研究和評估當前市場環境後，重新規劃2026年 募集資金使用進度，預計部分資金使用期限將會延長至2027年末。為提高暫未使用部分募 集資金的使用效率，董事會決定將合共人民幣210百萬元閑置的募集資金臨時用於補充公司 流動資金，包括計劃用於升級生產設施的項目的人民幣70百萬元、用於營銷網絡建設項目 的 人 民 幣 90 百 萬 元 及 用 於 升 級 信 息 化 科 技 的 人 民 幣 50 百 萬 元 ， 使 用 期 限 為 一 ...

Group 1 - The core viewpoint of the article highlights the recognition of Mengjinyuan Gold Jewelry Group as one of the top ten influential jewelry brands in China, showcasing its brand influence, cultural heritage, and innovative international layout [1] - The award was independently conducted by the World Brand Lab, aiming to honor Chinese enterprises that have achieved outstanding accomplishments in brand building, market influence, cultural inheritance, and innovation [1] Group 2 - Mengjinyuan has been dedicated to the excavation, protection, and modern expression of intangible cultural heritage, integrating ancient goldsmithing techniques with contemporary aesthetics and fashion design [2] - The brand has established craft art master studios and collaborated with inheritors of intangible cultural heritage for product development, revitalizing ancient techniques in materials like gold and K-gold [2] Group 3 - Mengjinyuan is actively promoting Chinese aesthetics globally, serving as a cultural ambassador through its jewelry, which conveys Chinese stories and philosophies [3] - The brand's cultural output includes not only product exports but also the transmission of design concepts and values through cross-industry collaborations and participation in international cultural exchange activities [3] Group 4 - Mengjinyuan has strategically positioned K-gold products as a pioneer in its internationalization efforts, successfully entering key markets in Southeast Asia, Europe, and North America [4] - The World Brand Lab noted that Mengjinyuan's success stems from its balanced development model of "upholding cultural roots, embracing modern innovation, and forward-looking global layout" [4] - The company has built a complete value chain from cultural heritage, craft innovation to market expansion, demonstrating the upgrade path of contemporary Chinese brands from "manufacturing" to "creation" and from "local" to "global" [4]

公司名稱: 夢金園黃金珠寶集團股份有限公司 呈交日期: 2025年12月3日 I. 法定/註冊股本變動 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 第 2 頁 共 11 頁 v 1.1.1 | 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) | 02585 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 233,023,466 | RMB | | 1 | RMB | | 233,023,466 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 233,023,466 | RMB | | 1 | RMB | | ...

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 致：香港交易及結算所有限公司 公司名稱: 夢金園黃金珠寶集團股份有限公司 呈交日期: 2025年11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) | 02585 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 233,023,466 | RMB | | 1 | RMB | | 233,023,466 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 233,023,466 | RMB | | 1 | RMB | | 233,023,466 | | 2. 股 ...

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: 夢金園黃金珠寶集團股份有限公司 呈交日期: 2025年10月8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) | 02585 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 233,023,466 | RMB | | 1 RMB | | 233,023,466 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 233,023,466 | RMB | | 1 RMB | | 233,023,466 | | 2. 股份分類 | 普通股 | 股份類別 | ...

Core Insights - The company, Mengjinyuan, has been recognized in the "Asia Brand 500" list for three consecutive years, ranking third in the domestic jewelry industry, reflecting its strong brand presence and market position [1][8] - Mengjinyuan has achieved significant breakthroughs in international expansion through product innovation, channel development, and brand rejuvenation strategies [1][8] Product Innovation Driving Growth - Mengjinyuan has invested heavily in technology research and development, holding 639 patents, including 48 invention patents, establishing a solid technological barrier [3] - The company has developed a patented solder-free welding technology that enhances gold jewelry purity to over 999.9‰, addressing long-standing industry issues [3] - In September 2025, Mengjinyuan launched two new product series: "High Light Moment" featuring advanced craftsmanship and "Red Rhythm Oriental 2.0" integrating cultural elements, enhancing user experience and social engagement [3] Channel Expansion and Globalization - As competition in first-tier cities intensifies, Mengjinyuan has adopted a differentiated channel development strategy, establishing a network of 2,733 offline stores and a robust online presence across major e-commerce platforms [5] - The company's overseas revenue reached 145 million yuan in the first half of 2025, marking a 285.9% year-on-year increase, with successful international sales of its high-end spring clasp technology [5] Brand Marketing and Cultural Empowerment - Mengjinyuan's brand rejuvenation strategy has been effective, collaborating with various celebrities to blend traditional jewelry with modern lifestyles [7] - The company preserves traditional craftsmanship as a provincial-level intangible cultural heritage, integrating ancient techniques with contemporary design [7] - In early 2025, Mengjinyuan showcased its designs on a major fashion cultural program, emphasizing its commitment to innovation and cultural representation [7] - The company plans to introduce over 200 new products monthly across five key categories, leveraging social media platforms for marketing and customer engagement [7] Global Brand Recognition - The recognition of Mengjinyuan in the Asia Brand 500 signifies a shift from manufacturing advantages to brand advantages among Asian brands, showcasing its maturity in technology integration, cultural output, and global operational capabilities [8] - Mengjinyuan's growth trajectory serves as a model for other Asian consumer brands in the context of artificial intelligence and trade restructuring [8]

Core Insights - The new "High Light Moment" series by Dream Gold Garden showcases a revolutionary approach to gold jewelry, emphasizing its transformation from a traditional asset to a fashionable statement piece [1][2] - The "Red Rhythm Oriental 2.0" series combines traditional Chinese aesthetics with modern design elements, appealing to younger consumers and promoting cultural engagement [2] Product Highlights - The "High Light Moment" series features a unique micro-level light track engraving technology, allowing for a 360-degree shine with a lightweight design of only 0.27 grams per gold bead, maintaining a hardness of 130HV [1] - The "Red Rhythm Oriental 2.0" series includes the "Eight Treasures Spinning Necklace" and "Treasure Auspicious Hand String," integrating traditional Buddhist symbols and modern spinning mechanics for both aesthetic and interactive experiences [2] Marketing Strategy - Dream Gold Garden employs a comprehensive marketing strategy for the "Red Rhythm Oriental 2.0" series, utilizing social media platforms like Xiaohongshu to engage with younger audiences through influencer collaborations and trending topics [2] - The brand's marketing efforts focus on making gold jewelry accessible and playful, aligning with the lifestyle preferences of Generation Z consumers [2] Availability - The two new product lines have been launched in September across national stores and flagship platforms, indicating a strategic push into the market [3]

Core Insights - Dream Gold Garden (02585.HK) launched two new product series, "High Light Moment" and "Red Rhythm Oriental 2.0," in response to the changing dynamics of the gold market and consumer preferences [1] Group 1: Market Trends - The international gold price remains at historical highs, leading to a shift in consumer motivation from "preservation of value" to "self-enjoyment" [1] - The demand from younger consumers for product design, cultural connotation, and daily wear scenarios has significantly increased, with gold-related posts on Xiaohongshu platform growing fivefold in the first half of 2025 [1] - Keywords like "New Chinese Style" and "Cultural Hand Beads" saw a voice increase of 291% [1] Group 2: Product Differentiation - The "High Light Moment" series features a unique "Light Track Engraving Technology," achieving a hardness of 130HV, which is a 45% improvement over ordinary gold, and reducing the weight of individual gold beads to 0.27 grams, a 36% decrease [2] - This series aims to create a clear differentiation from competitors like Chao Hong Ji in the light luxury product line [2] Group 3: Cultural and Functional Aspects - The "Red Rhythm Oriental 2.0" series incorporates cultural elements and interactive features, enhancing the wearing experience and social sharing capabilities [4] - Unlike the static collection positioning of competitors, Dream Gold Garden emphasizes "dynamic wearing" and "content generation," aligning with the characteristics of platforms like Xiaohongshu and Douyin [4] Group 4: Industry Evolution - The launch reflects a broader trend in the gold industry moving from a "material-driven" approach to a comprehensive competition model focusing on "craftsmanship, culture, and operations" [5] - Companies are required to enhance craftsmanship details, cultural resonance, and marketing efficiency to navigate the dual challenges of high gold prices and younger consumer demographics [5]

Gold Consumption and Market Trends - In the first half of 2025, domestic gold consumption in China was 505.205 tons, a year-on-year decrease of 3.54%[9] - Gold jewelry consumption dropped to 199.826 tons, reflecting a significant decline of 26.0% year-on-year, while gold bars and coins consumption increased by 23.69% to 264.242 tons[9] - The demand for gold jewelry has weakened, but investment in gold remains strong due to economic uncertainty and the depreciation of the RMB[10] - E-commerce and live streaming platforms have significantly enhanced the purchasing power of younger consumers, leading to a notable increase in online jewelry sales[11] - The trend of integrating modern fashion with traditional cultural elements in gold jewelry is becoming increasingly popular among younger consumers[12] - The overall market outlook remains stable, with potential for future growth driven by cultural relevance and investment demand[10] Company Financial Performance - The company's total revenue increased by 4.7% year-on-year to RMB 10,450.9 million, compared to RMB 9,979.9 million in the previous year[13] - The net loss for the period was RMB 64.0 million, a decline from a net profit of RMB 52.3 million in the same period last year[13] - Sales of gold jewelry and other gold products generated revenue of RMB 10,135.2 million, a 3.1% increase from RMB 9,834.9 million in 2024[30] - Revenue from K-gold jewelry and diamond-studded products surged by 163.2% to RMB 262.9 million, up from RMB 99.9 million in the previous year[31] - Service revenue increased by 17.8% to RMB 52.9 million, compared to RMB 44.9 million in 2024[31] - Revenue from the mainland China market was RMB 10,306.2 million, accounting for 98.6% of total revenue[34] Sales and Marketing Strategies - The company established a sales network covering 2,733 stores, including 2,704 franchise stores and 29 self-operated stores, as of June 30, 2025[13] - The shift towards online sales channels allows gold jewelry manufacturers to reach national and even overseas markets[11] - The company is focusing on design innovation to meet the evolving preferences of consumers, particularly the younger demographic[12] - A brand upgrade strategy was initiated in the first half of 2025, enhancing brand visibility and sales performance through integrated marketing efforts[25] - The company is actively exploring overseas market potential, launching international online operations in the first half of 2025 to expand brand awareness and market influence[77] Financial Position and Assets - Total assets as of June 30, 2025, were RMB 5,122.2 million, with total liabilities of RMB 2,836.5 million and net assets of RMB 2,285.7 million[49] - Inventory decreased by 5.4% to RMB 2,406.4 million, aligning with production plans[50] - Trade payables and notes payable decreased by 55.0% to RMB 177.4 million, mainly due to reduced costs associated with procurement[55] - As of June 30, 2025, contract liabilities amounted to RMB 56.8 million, a decrease of 46.5% compared to RMB 106.1 million on December 31, 2024, primarily due to a reduction in customer prepayments[57] - Interest-bearing borrowings amounted to RMB 1,511.8 million as of June 30, 2025, compared to RMB 1,348.9 million on December 31, 2024, primarily used for general operational needs[73] Research and Development - R&D expenses increased by 8.8% to RMB 12.3 million, driven by higher spending on mold and equipment development, product design, and intellectual property costs[40] - The company launched new product lines inspired by traditional Chinese aesthetics, emphasizing craftsmanship and cultural heritage[15] Shareholder and Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with all relevant codes during the reporting period[79] - The company has adopted a share incentive plan effective from February 10, 2025, which will last for ten years until February 9, 2035[94] - The share incentive plan aims to attract, motivate, and retain skilled personnel for the company's future development and expansion[95] - The board has decided not to declare an interim dividend for the six months ending June 30, 2025, consistent with the previous year[115] Cash Flow and Financing Activities - The net cash generated from operating activities was RMB 65,606,000, compared to a net cash used of RMB 13,685,000 in the same period of 2024[143] - The total increase in cash and cash equivalents for the period was RMB 289,423,000, compared to RMB 208,076,000 in the same period of 2024[143] - The company successfully raised a net amount of HKD 452.5 million (approximately RMB 420.7 million) from its listing on the Hong Kong Stock Exchange on November 29, 2024[131] Losses and Impairments - The company reported a significant loss in other income and expenses, totaling RMB (695,934,000) for the six months ended June 30, 2025, compared to RMB (347,823,000) in 2024[152] - The company recorded a net loss attributable to owners of RMB 70,091,000 for the six months ended June 30, 2025, compared to a profit of RMB 47,433,000 in the same period of 2024[158]