Core Viewpoint - The company expects to report a net profit of between RMB 660 million and RMB 680 million for the six months ending June 30, 2025, a significant improvement compared to a net loss of between RMB 735 million and RMB 755 million for the same period in 2024 [1] Group 1 - The primary reason for the expected change in net profit is an increase in the fair value change of financial instruments issued to investors, which is anticipated to contribute a gain of between RMB 795 million and RMB 815 million compared to a loss in the previous year [1] - The adjusted net profit attributable to shareholders (non-HKFRS measure) is expected to be between RMB 56 million and RMB 76 million, a decrease of between RMB 50 million and RMB 70 million compared to the same period in 2024 [2] - The anticipated decline in adjusted net profit is attributed to increased uncertainty in the macroeconomic environment, a slowdown in financial consumer demand, and the implementation of a unified reporting policy in the insurance industry that has reduced brokerage fees [2] Group 2 - The company's revenue for the six months ending June 30, 2025, is projected to be between RMB 545 million and RMB 565 million, representing a decrease of between RMB 140 million and RMB 160 million compared to the same period in 2024 [2] - Costs and expenses are expected to decrease by between RMB 75 million and RMB 95 million, which is lower than the revenue decline [2] - Despite the anticipated challenges, the board believes that the overall operational, financial condition, and cash flow of the company remain robust [2]

手回集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2621） 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之內容概不負責， 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 分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Shouhui Group Limited 附註1： 經調整的股東應佔淨利潤是扣除以股份為基礎的薪酬開支、上市開支及向投資者發行的 金融工具賬面值變動的利潤╱（損失）。 本公告所載資料基於董事會可獲得的最新財務資料以及本集團截至2025年6月30日 止六個月的未經審核綜合管理賬目，該賬目未經本公司審計師審閱或審核。 盈利警告 本公告乃由手回集團有限公司（「本公司」，連同其附屬公司及通過合約安排控制的 實體，統稱「本集團」）根據《香港聯合交易所有限公司證券上市規則》（「上市規則」） 第13.09(2)條及香港法例第571章證券及期貨條例第XIVA部項下之內幕消息條文 （定義見上市規則）而作出。 本公司董事（「董事」）會（「董事會」）謹此通知本公司股東（「股東」）及潛在投資者，本 集團預計將錄得截至2025年6月30日止六個月的淨利潤 ...

Core Viewpoint - The stock price of Shouhui Group (02621.HK) has reached a low of 4.65 HKD, reflecting a decline of 0.64% as of the latest trading session, indicating potential concerns regarding its market performance [1] Group 1: Company Performance - Shouhui Group's stock hit a low of 4.65 HKD on July 7, 2023, and has returned to this level again [1] - The closing price today is reported at 4.67 HKD, showing a slight decrease [1] Group 2: Investment Insights - Gao Fei Asset, a subsidiary of Noah Wealth, is the largest external institutional shareholder of Shouhui Group, having invested 150 million RMB in the company's Series C financing in 2020 [1] - Gao Fei Asset's investment decision was based on a deep understanding of the internet personal insurance sector and the company's core capabilities [1] Group 3: IPO Details - Shouhui Group was listed on the Hong Kong Stock Exchange on May 30, 2025, with an initial offering price of 8.08 HKD [1] - The total amount raised from the IPO was 196.82 million HKD, with net proceeds of 134.22 million HKD after deducting estimated listing expenses of 62.59 million HKD [1]

第 1 頁 共 10 頁 v 1.1.1 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: | 手回集團有限公司 | | | 呈交日期: | 2025年8月4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) | 02621 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | ...

Core Viewpoint - The company, Shouhui Group, has entered into agreements with Pudong Development Bank and Pudong Bank Wealth Management for fixed income investment products, indicating a strategic move to enhance its investment portfolio [1] Group 1: Investment Agreements - On June 5, 2025, Shouhui Group, through its controlled entity in Shenzhen, signed an agreement with Pudong Development Bank and Pudong Bank Wealth Management to invest in a fixed income product with a principal amount of RMB 5,000,000 [1] - On July 30, 2025, Shouhui Group further committed to the same fixed income product by entering into a new agreement with a principal amount of RMB 45,000,000 [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。 Shouhui Group Limited 手回集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2621） 須予披露交易 認購理財產品 認購理財產品 | 認購日期 | ： | 2025年7月30日 | | --- | --- | --- | | 訂約方 | : (i) | 深圳手回，作為認購人 | | | (ii) | 浦發銀行，作為產品托管人及銷售機構 | | | (iii) | 浦銀理財，作為發行人及產品管理人 | | 理財產品名稱 | ： | 浦銀理財日添金1號（公司專屬）理財產品 | | 產品類型 | ： | 固定收益、公募開放式淨值型 | | 產品投資範圍 | ： | 本產品主要投資於： | | | (i) | 指定固定收益資產，包括現金、銀行存款、同業存 款、拆借、回購、貨幣基金等貨幣市場工具；國 | | | | 債、地方政府債、央行票據、同業存單等符合監管 | | | | 要求 ...

Core Viewpoint - The Hong Kong stock market is becoming increasingly active, with a notable rise in IPOs compared to previous years. However, the recent IPO of the internet technology company, Shouhui Group, has faced significant challenges, including a drop in stock price shortly after listing, indicating potential issues with its business model and market reception [2][5]. Company Overview - Shouhui Group is a personal insurance intermediary service provider that utilizes an online platform to offer insurance solutions to policyholders and insurers. The company primarily generates revenue through three main business segments: Niubao 100, Xiaoyusan, and Kachabao, with over 60% of its revenue coming from Niubao 100 [5][9][10]. Market Position - In 2023, the total premium of China's personal insurance market reached RMB 3.8 trillion, with the personal insurance intermediary market totaling RMB 237 billion, accounting for 6.3% of the overall market. Shouhui Group ranked eighth in the domestic personal insurance intermediary market with a market share of 2.9% [6][7]. Financial Performance - Shouhui Group's revenue fluctuated significantly from 2021 to 2024, with reported revenues of RMB 1.548 billion, RMB 806 million, RMB 1.634 billion, and RMB 1.387 billion, respectively. The company experienced net losses in 2021 and 2023, while achieving profitability in 2022 [8][19]. Revenue Breakdown - The revenue contributions from the three business segments are as follows: Niubao 100 contributed 67.6% in 2023, Xiaoyusan contributed 19.5%, and Kachabao contributed 12.9%. Niubao 100 is primarily driven by external traffic from media and licensed brokers [15][14]. Cost Structure - The main costs for Shouhui Group include commissions paid to insurance agents and brokers, channel promotion expenses, and employee salaries. Commissions accounted for 55.8% of total costs in 2024 [20][21]. Marketing Strategy - The company has maintained a high marketing expenditure, with over 40% of sales and marketing costs allocated to advertising and promotions in the past three years. In 2024, the total channel expenses reached RMB 801 million, significantly overshadowing the RMB 51 million spent on research and development [23][21]. Market Challenges - The competitive landscape for Shouhui Group is intense, with competition from other intermediaries, banks, and insurance agencies. The reliance on online traffic for customer acquisition poses challenges, especially in a market that increasingly demands profitability over growth [7][25].

Group 1: Fund Industry Developments - Multiple public funds are actively purchasing newly issued floating-rate funds, indicating strong market interest and support from fund companies [1] - The new floating-rate funds are designed to anchor performance benchmarks, incentivizing fund managers to enhance investment capabilities and research systems [1] - As of June 3, 440 A-share listed companies have announced share buybacks, with 78 companies initiating new buyback plans in May alone [1] Group 2: Wealth Management and Financial Services - The wealth management industry is experiencing a "fee reduction wave," with some products offering management fees as low as 0.01% per year, translating to just 1 yuan for a 10,000 yuan investment [2] - Major banks are adjusting their car loan commission structures, reducing high rebate rates to enhance service quality and market competitiveness [2] Group 3: Pharmaceutical and Biotechnology - Bayer's prostate cancer drug Nubeqa has received FDA approval based on positive results from a Phase 3 trial, showing a 46% reduction in the risk of disease progression or death [3] Group 4: IPO and Market Activity - There has been a significant increase in foreign capital participation in Hong Kong IPOs, with 15 out of 27 companies this year attracting foreign cornerstone investors, compared to only 3 last year [5] - Shenzhen Handback Technology Group's IPO faced challenges, with its stock price dropping nearly 30% from the initial offering price shortly after listing [6][7] Group 5: Corporate Financing and Strategic Moves - China Ping An plans to issue zero-coupon convertible bonds totaling 11.765 billion HKD to support its business development and capital needs [10] - United Optoelectronics intends to acquire 100% of Changyi Optoelectronics through a share issuance, with the final transaction details pending [8] Group 6: Market Performance - The US stock market saw all three major indices rise, with the Dow Jones increasing by 0.51% and Nvidia leading the gains in the tech sector [11]

Group 1 - The core point of the article is that Shenzhen Shouhui Technology Group Co., Ltd. has successfully passed the listing hearing on the Hong Kong Stock Exchange after multiple attempts, but faces significant challenges ahead, including financial losses and market competition [2][9]. - The company issued 24.36 million new shares at a price of HKD 8.08 per share, raising a total of HKD 197 million, but the stock price fell significantly on its debut, closing at HKD 6.61, a drop of 18.19% [2][3]. - The company has experienced substantial financial volatility, with revenues of HKD 8.06 billion in 2022, HKD 16.34 billion in 2023 (a 102.7% increase), and a drop to HKD 13.87 billion in 2024 (a 15.1% decrease) [5][6]. Group 2 - The company has accumulated losses of HKD 4.92 billion over the years 2023 and 2024, with net losses of HKD 3.56 billion in 2023 and HKD 1.36 billion in 2024 [5][6]. - The revenue structure is heavily reliant on insurance transaction commissions, with over 99% of income derived from this source, indicating a vulnerability in its business model [6][7]. - Approximately 60% of the funds raised from the IPO are intended for optimizing the sales network and research and development, highlighting the company's focus on improving operational efficiency [7][8]. Group 3 - The company has faced internal governance issues, including a notable incident in 2020 involving a power struggle among founders, which raises concerns about management stability [8][9]. - The company operates under significant pressure from investor agreements that could lead to substantial financial liabilities if it fails to meet certain milestones [7][8]. - The competitive landscape is challenging, with major players like Ant Group and Tencent exerting pressure on smaller platforms, necessitating strategic adaptations for future growth [9].

（以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 资金流向方面，当日主力流入205.748万港元，流出377.468万港元，净流出171.72万港元。 手回集团有限公司是一家中国人身险中介服务提供商,致力于通过数字化人身险交易及服务平台,在线为 保险客户提供保险服务解决方案。公司分销的保险产品(包括与保险公司共同开发的保险产品)由保险公 司承保,公司不承担任何承保风险。根据弗若斯特沙利文的资料,于2023年,按总保费计,中国的人身险市场 规模为人民币3.8万亿元。公司主要与保险中介机构和保险公司内部销售人员竞争。此外,公司亦与其他 市场参与者(包括银行保险渠道及保险兼业代理机构)竞争。根据弗若斯特沙利文的资料,于2023年,中国 人身险中介市场的总保费达至人民币2,370亿元,占中国人身险市场总保费的6.3%。于2023年,以中国人身 险中介市场的总保费计,公司排名第八,市场份额为2.9%。线上中介在中国人身险中介市场中占据主导地 位,并于2023年占中国人身险中介市场总保费的89.1%。根据弗若斯特沙利文的资料,以2023年的长期人 身险的总保费计,公司是中国第二大线上保险 ...