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。 ANJOY FOODS GROUP CO., LTD. 劉鳴鳴先生 （股份代號：2648） 暫停辦理H股股份過戶登記手續 安井食品集團股份有限公司（「本公司」）擬於2025年11月28日（星期五）召開2025 年第一次臨時股東會（「2025年第一次臨時股東會」）。為確定有權出席2025年第一 次臨時股東會的H股股東名單，本公司將於2025年11月25日（星期二）至2025年11 月28日（星期五）（首尾兩天包括在內）期間暫停辦理H股股份過戶登記手續。凡於 2025年11月28日（星期五）名列本公司H股股東名冊的H股股東，將有權出席2025 年第一次臨時股東會並於會上就將予提呈的所有決議案投票。H股股東如欲出席 2025年第一次臨時股東會，應於2025年11月24日（星期一）下午4時30分前，將全 部股份過戶文件連同相關股票一併送交本公司H股股份過戶登記處香港中央證券 登記有限公司，地址為香港灣仔皇后大道 ...

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。 ANJOY FOODS GROUP CO., LTD. 安井食品集團股份有限公司 修訂《公司章程》及取消公司監事會的事項尚需提交本公司股東會審議後方可生 效。在此之前，本公司第五屆監事會仍將繼續按照有關法律、法規和《公司章程》 等相關規定，履行監事會的職責。 1 建議修訂及制定部分公司治理制度 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2648） (i)建議修訂《公司章程》 及 (ii)建議修訂及制定部分公司治理制度 建議修訂公司章程 為全面貫徹、落實《中華人民共和國公司法》（「《公司法》」）、《中華人民共和國證 券法》「《證券法》」、《境內企業境外發行證券和上市管理試行辦法》《上市公司章 程指引》《上海證券交易所股票上市規則》《香港聯合交易所有限公司證券上市規 則》「《香港上市規則》」等法律、法規及規範性文件要求，安井食品集團股份有限 公司（「本公司」）擬結合實際情況對《安井食品集團股份 ...

Core Viewpoint - Anjuke Foods (02648) shares rose over 5%, reaching a new high of 69.05 HKD, driven by positive quarterly earnings results [1] Financial Performance - For the first three quarters, Anjuke Foods reported revenue of 11.371 billion HKD, a year-on-year increase of 2.66% [1] - The net profit attributable to shareholders for the same period was 949 million HKD [1] - In the third quarter alone, the company achieved revenue of 3.766 billion HKD, reflecting a year-on-year growth of 6.61% [1] - The net profit for the third quarter was 273 million HKD, which is an increase of 11.8% year-on-year [1] Market Insights - CCB International noted that the company's core business revenue remained stable in the third quarter, with strong performance in new channels [1] - The company is driving growth through product innovation, adapting to channel changes and consumer demands [1] - With the peak season in the second half of the year, the company's performance is expected to improve quarter by quarter [1]

Core Insights - The article highlights the changes in the Hong Kong Stock Connect holdings, with notable increases and decreases in ownership percentages for various companies [1][2] Group 1: Significant Increases in Holdings - Qingdao Bank (03866) saw the largest increase in holdings, up by 2.24% to a total of 14.87% [1] - Qin Port Co. (03369) and Guotai Junan International (01788) also experienced significant increases of 0.84% and 0.78%, bringing their holdings to 44.42% and 14.70% respectively [1] - Over the last five trading days, Qingdao Bank (03866) had the highest increase at 7.31%, followed by Hang Seng China Enterprises (02828) at 6.53% and Anjuke Food (02648) at 3.86% [1] Group 2: Significant Decreases in Holdings - Shandong Molong (00568) experienced the largest decrease in holdings, down by 0.87% to 58.74% [1] - Other notable decreases include China Merchants Energy (01138) and Lens Technology (06613), which saw reductions of 0.84% and 0.80%, resulting in holdings of 69.25% and 15.88% respectively [1] - Over the last five trading days, the largest decrease was recorded by Changfei Optical Fiber (06869) at -4.32%, followed by Delin Holdings (01709) at -3.75% and ZTE Corporation (00763) at -2.86% [1] Group 3: Long-term Trends in Holdings - Over the past 20 days, GX Hang Seng Technology (02837) had the highest increase in holdings at 19.01%, followed by Ying'en Bio-B (09606) at 16.05% [2] - Qingdao Bank (03866) also showed a significant increase of 7.76% over the same period, indicating a positive trend in investor interest [2] - Conversely, Changfei Optical Fiber (06869) recorded the largest decrease in holdings over 20 days at -10.14%, indicating potential concerns among investors [2]

FF301 致：香港交易及結算所有限公司 | RMB 本月底法定/註冊股本總額： | | --- | | 333,288,932 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 603345 | 說明 | | 於上海證券交易所上市 | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 293,294,232 | RMB | | 1 RMB | | 293,294,232 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 293,294,232 | RMB | | 1 RMB | | 293,294,232 | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- ...

Core Viewpoint - Anjuke Food (02648.HK) experienced a significant increase in stock price, rising over 4% during the morning session, indicating positive market sentiment towards the company [1] Group 1 - The stock price of Anjuke Food rose by 4.27%, reaching 64.65 HKD [1] - The trading volume for Anjuke Food was reported at 48.6163 million HKD [1]

Core Viewpoint - Anjiu Foods (02648) reported a positive performance in Q3 2025, with revenue and net profit showing year-on-year growth, indicating a recovery in profitability and effective channel strategies [1] Financial Performance - Q3 total revenue reached 3.766 billion yuan, a year-on-year increase of 6.61% [1] - Net profit attributable to the parent company was 273 million yuan, up 11.8% year-on-year [1] - Deducting non-recurring items, net profit was 264 million yuan, reflecting a 15.27% increase year-on-year [1] - The gross profit margin for Q3 was 19.99%, remaining stable year-on-year despite rising procurement costs for crayfish and fresh fish [1] Channel Performance - Revenue from various channels in Q3 included: - Distributors: 2.96 billion yuan, down 0.6% year-on-year - Direct sales: 317 million yuan, up 68.1% year-on-year - Supermarkets: 220 million yuan, up 28.1% year-on-year - New retail and e-commerce: 270 million yuan, up 38.1% year-on-year [1] - The company is focusing on customized solutions for supermarkets and has made steady progress in expanding large supermarket clients [1] - The shift towards new retail channels, such as Hema, has also contributed to significant revenue growth [1] Strategic Initiatives - The company is actively pursuing product innovation and channel transformation, emphasizing new product development and customization trends in supermarkets [1] - The industry is experiencing a moderation in price competition, which is aiding the company's recovery in profitability [1]

Group 1 - The Hang Seng Index rose by 0.54%, gaining 141 points to close at 26,487 points, while the Hang Seng Tech Index increased by 0.31%. The morning trading volume in Hong Kong stocks reached HKD 178.7 billion [1] - Newly listed stock Dipu Technology (01384) surged by 36%, while Baima Tea (06890) rose over 8%, and Haixi New Drug (02637) increased by 7.59% [2] - The demand for energy storage driven by AI is expected to increase significantly, with CITIC Securities forecasting that total lithium battery demand will exceed 2,700 GWh next year, a year-on-year growth rate of over 30%. Energy storage battery demand is projected to exceed 900 GWh, leading to potential shortages in various lithium sectors [2] Group 2 - Ganfeng Lithium (01772) rose over 12%, and Tianqi Lithium (09696) increased by over 8% due to the strong performance of lithium mining stocks [2] - The energy storage sector saw significant gains, with Zhongchu Innovation (03931) rising over 12%, CATL (03750) increasing by 2.59%, and Shuangdeng Co. (06969) gaining over 7% [2] - Ruipu Lanjun (00666) increased by over 8% after the company launched several strategic new products covering energy storage, commercial vehicles, and passenger cars [3] Group 3 - Aneng Logistics (09956) surged by 22% following a privatization proposal from a major shareholder's consortium, with a premium rate exceeding 48% [4] - China Duty Free Group (01880) rose by 3% as the entire Hainan island is set to close in December, which is expected to boost the overall development of Hainan's tourism retail market [5] - China Hongqiao (01378) increased by nearly 7% due to recent production cuts in overseas electrolytic aluminum, which may further widen the supply-demand gap in the electrolytic aluminum market [6] Group 4 - Anjii Food (02648) rose over 8% with a 11.8% year-on-year growth in net profit attributable to shareholders in the third quarter, supported by a collaborative development across all channels [7] - The engineering machinery sector saw significant gains, with September exports continuing to grow year-on-year, and leading companies like Sany Heavy Industry (06031) rising by 9%, Senson International (02155) increasing by 8.02%, and China National Heavy Duty Truck Group (03808) gaining 3.7% [7] Group 5 - WuXi AppTec (02359) fell over 4% as the actual controller's shareholders plan to reduce their holdings by no more than 2% of the company's A-shares [8]

Core Viewpoint - Anjuke Foods (02648) reported a strong performance in the third quarter, with significant revenue and profit growth, leading to an increase in stock price by over 8% [1] Financial Performance - For the first three quarters, Anjuke Foods achieved a revenue of 11.371 billion yuan, representing a year-on-year increase of 2.66% [1] - The net profit attributable to shareholders for the same period was 949 million yuan [1] - In the third quarter alone, the company generated a revenue of 3.766 billion yuan, which is a 6.61% increase year-on-year [1] - The net profit for the third quarter was 273 million yuan, reflecting an 11.8% year-on-year growth [1] Market Strategy - The company is actively embracing customized channels in supermarkets, with a focus on multi-channel expansion including traditional supermarkets, regional supermarkets, and retail discount stores [1] - There is an expectation for the market share to expand year by year, with ongoing benefits from economies of scale [1] Profitability - The gross margin and net margin for Q3 have shown year-on-year growth, indicating a stabilization and recovery in profitability [1] - The company is anticipated to see a positive quarter-on-quarter performance in Q4 [1]

Summary of Anjoy Foods Conference Call Company Overview - **Company**: Anjoy Foods - **Industry**: Frozen Food and Prepared Dishes Key Points Sales Strategy and Channel Performance - Anjoy Foods has established a robust channel barrier through an omnichannel sales strategy, with the distribution channel accounting for 76% of revenue in the first half of 2022, indicating the effectiveness of its channel strategy [2][4][5] - The company maintains a stable network of distributors, providing flexible policy support to enhance distributor loyalty, ensuring that distributor revenue remains above 75%, which forms a significant competitive advantage [2][4][5] Production Capacity and Market Position - Anjoy Foods is the leading producer in the industry, with a capacity utilization rate consistently exceeding 100%. The company has expanded production bases and upgraded old facilities to alleviate supply shortages during peak seasons and reduce transportation costs [2][5] - The company operates 11 production bases and has over 30 projects under construction, continuously building new bases and upgrading existing ones to support production capacity [5] Industry Growth and Market Potential - The Chinese frozen food market is experiencing rapid growth, expected to reach a market size of 330 billion yuan by 2025, driven by improvements in cold chain logistics and changes in consumer structure [2][6] - There is significant room for growth in per capita consumption of frozen foods in China, which was 9 kg in 2019 compared to 65 kg in the U.S. and 35 kg in Europe [6] Prepared Dishes Business Development - Anjoy Foods is actively expanding its prepared dishes segment through self-production, private labeling, and acquisitions, launching several market-recognized flagship products [2][7][11] - The prepared dishes market is projected to reach a trillion yuan by 2025, with significant growth potential as per capita consumption in China is currently low compared to other countries [9][10] Financial Performance - In the first half of 2023, Anjoy Foods reported revenue of 7.6 billion yuan, a year-on-year increase of 0.8%, while net profit attributable to shareholders was 676 million yuan, a decline of 15.79% [3][12] - The gross margin was 20.52%, down 3.39 percentage points year-on-year, primarily due to rising raw material prices [3][12] Channel Performance Insights - Revenue from the distributor channel was 6 billion yuan, a slight decline of 1.15%, while the retail and e-commerce channels showed strong performance with a revenue increase of 20.92% [3][13] - The company collaborates with new retail platforms like Hema and Dingdong Maicai to enhance supply capabilities in emerging markets, although demand remains under pressure [3][13] Management and Strategic Direction - The management team, led by Chairman Liu Liming and General Manager Zhang Qingnian, has shown high professionalism and loyalty since the company's inception, effectively implementing the omnichannel sales strategy [4] Product Innovation and Market Strategy - Anjoy Foods focuses on product innovation, launching regional new products based on local dietary habits, which are then promoted nationwide to ensure sustainable growth [8] Recent Acquisitions - The company completed the acquisition of Jiangsu Dingwei Tai Foods, entering the frozen baking sector and enhancing its capabilities in high-end cod fish paste and frozen baking products [12][11] This summary encapsulates the key insights from the conference call, highlighting Anjoy Foods' strategic initiatives, market positioning, financial performance, and growth potential in the frozen food and prepared dishes industry.