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 1 | 序號 | 原條款 | 修訂後條款 | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 第三條 公司於2017 年1 月2 | 公司於2017 | 第三條 | | 月2 | | 日 | | | | | | | 年1 | 0 | 0 | 日 | | | 經 中 國 證 券 監 督 管 理 委 員 會（ | 監 督 | 中 | 國 證 券 | | 管 | 以 | 委 | 員 | 會（ | 經 | | 理 | | | | 以 | | | 下簡稱「中國證監會」）證監許可 | 下簡稱「中 ...

| 股份代號: | 02648 | | --- | --- | | 上市法國名稱: | 安井食品集團股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 01/07/2025 - 01/08/2025 | 格隆汇8月1日丨根据联交所最新权益披露资料显示，2025年7月29日，安井食品(02648.HK)获The Goldman Sachs Group, Inc.在场内以每股均价59.7542港元增 持好仓34.06万股，涉资约2035.23万港元。 增持后，The Goldman Sachs Group, Inc.最新持好仓数目为1208.39万股，持好仓比例由29.36%上升至30.21%。 | 張格序號 | 大股東/董事/最高行政人員名稱作出披露的 買入 / 費出或涉及的 每股的平均價 | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | | | --- | --- | --- | --- | --- | --- | | | 原因 股份數目 | | ( 請參閱上述 * 註 | | 有投票權股 (日 / 月 / 年) | | | | | | | 份自分比 | | | | | | | ...

Group 1 - The core point of the article is that Schroders PLC has increased its stake in Anjoy Foods (02648.HK) by purchasing 143,800 shares at an average price of HKD 59.7184 per share, totaling approximately HKD 8.5875 million [1] - Following this transaction, Schroders PLC's total shareholding in Anjoy Foods has risen to 3.3218 million shares, increasing its ownership percentage from 7.95% to 8.31% [1]

Group 1 - The Shenzhen Stock Exchange announced an adjustment to the list of eligible securities under the Hong Kong Stock Connect, with Anjoy Foods (02648) being added to the list effective from July 31, 2025 [1] - The adjustment follows the end of the price stabilization period for Anjoy Foods in the Hong Kong market and the completion of 10 trading days since its A-share listing [1]

Core Viewpoint - Anjiu Foods (02648) announced the end of the stabilization period for its global offering on July 30, 2025, which is 30 days after the deadline for submitting the application for public offering in Hong Kong [1] Summary by Relevant Sections - The overall coordinator (representing international underwriters) did not exercise the over-allotment option during the stabilization period, and the over-allotment option will expire on July 30, 2025 [1]

Core Viewpoint - Anjiu Foods (02648.HK) announced that the stabilization period for its global offering will end on July 30, 2025, and that the overall coordinator did not exercise the over-allotment option during this period [1] Group 1 - The stabilization period for Anjiu Foods' global offering is set to conclude on July 30, 2025 [1] - The overall coordinator, representing international underwriters, did not exercise the over-allotment option during the stabilization period [1] - The over-allotment option will expire on July 30, 2025 [1]

香港交易及結算所有限公司、香港聯合交易所有限公司（「香港聯交所」）及香港中央結算有限 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。 除本公告另有界定者外，本公告所用詞彙與安井食品集團股份有限公司（「本公司」）於2025年 6月25日刊發的招股章程（「招股章程」）所界定者具有相同涵義。 本公告乃根據香港法例第571W章證券及期貨（穩定價格）規則第9(2)條作出。本公告僅供參 考，並不構成任何人士收購、購買或認購任何證券的邀請或要約。本公告並非招股章程。有 意投資者於決定是否投資發售股份前應閱覽招股章程，以獲得下文所述有關全球發售的詳細 資料。 本公告不會直接或間接於或向美國（包括其領土及屬地、美國任何州以及哥倫比亞特區）發 佈、刊發或派發。本公告並不構成或組成在美國境內或於任何其他司法權區購買或認購發售 股份的任何要約或招攬的一部分。發售股份並無亦不會根據《1933年美國證券法》（經不時修 訂）（「美國證券法」）或美國任何州或其他司法權區的證券法登記。發售股份不得在美國境內 提呈發售、出售、質押或 ...

Core Viewpoint - Anjiu Food Group Co., Ltd. became the first "A+H" listed company in China's frozen food industry but faced a disappointing debut on the Hong Kong Stock Exchange, raising questions about its performance and future prospects [1][2]. Summary by Sections Company Overview - Anjiu Food was founded in 2001 by Liu Mingming, a wealthy entrepreneur from Henan, and initially focused on fish paste and flour-based products [2]. - The company experienced over 20% annual compound growth and went public on the Shanghai Stock Exchange in 2017, subsequently engaging in a series of acquisitions to expand its product offerings [2]. Financial Performance - Anjiu Food reported a decline in both revenue and net profit for 2024, marking the first time since 2011 that both metrics decreased, with revenue at 3.6 billion yuan (down 4.13%) and net profit at 393 million yuan (down 10.80%) [3]. - The company's poor financial results have weakened investor confidence, leading to nearly 30% of minority shareholders voting against the Hong Kong listing proposal [3]. Market Reaction - The company’s stock debuted at a price of 60 HKD per share, raising 2.4 billion HKD, but the initial public offering was met with lukewarm market interest, as evidenced by a 44.2 times oversubscription in the public offering phase, which was below market expectations [1]. - Anjiu Food adjusted its final offering price down by 9.1% from the original upper limit, which contributed to a lackluster market reception on its first trading day [1]. Strategic Challenges - The company faces internal challenges, including issues related to acquisitions, goodwill impairment, and a decline in profitability, which have arisen as the prepared food sector experiences stagnation [2][3]. - Anjiu Food's international expansion efforts have not yielded significant results, with overseas business contributing only about 1% to revenue, raising concerns about its ability to regain investor trust and attract capital market interest [7]. Shareholder Sentiment - There is a notable divide between the company and its minority shareholders, particularly regarding the remaining balance from a previous 5.74 billion yuan fundraising and the frequent share sell-offs by major shareholders, totaling 5.778 billion yuan [7]. - The company aims to enhance its international presence through strategic partnerships and flexible expansion methods, including potential acquisitions and establishing manufacturing facilities abroad [7].

Summary of Key Points Core Viewpoint - The Hong Kong Stock Exchange (HKEX) saw 11 companies submit applications for listing from June 30 to July 6, with no companies passing the listing hearing during this period. Additionally, 7 companies initiated their public offerings, and 5 new stocks were listed. Group 1: Companies Submitting Applications - Puxiang Health Holdings Limited is a leading provider of integrated medical and elderly care services in North China, ranking second in revenue among its peers and first in revenue growth from 2022 to 2024 [2] - Magnesium Health Technology Co., Ltd. focuses on innovative payment solutions for medical expenses, being the largest provider of innovative health insurance solutions in China by policy count [3] - Yangtuo Technology Inc. operates a trading and service platform for home care and nutrition products, holding a 10.1% market share in the low-tier market [4] - Xiamen Ruiwei Information Technology Co., Ltd. specializes in image intelligent analysis products and solutions, leveraging machine learning and computer vision technologies [5] - Zijin Gold International Limited is a leading global gold mining company, ranking ninth in gold reserves and eleventh in production as of 2024 [6] - EVE Energy Co., Ltd. is a leading lithium battery platform company, ranking first in China for consumer cylindrical battery shipments and second globally for energy storage battery shipments [7] - Zhejiang Yifei Intelligent Technology Co., Ltd. is a leading industrial robotics company in China, focusing on the light industry [8] - ChipMight Semiconductor Technology (Hangzhou) Co., Ltd. is a leading power semiconductor company, ranking second in the global OLED display PMIC market [9] - Beijing Tongrentang Medical Investment Co., Ltd. is the largest non-public Chinese medicine hospital group by outpatient and inpatient visits [11] - Shandong Linglong Tire Co., Ltd. is the largest OE tire manufacturer in China and the third largest globally [12] - Magnesium Holdings Limited is an innovative automotive technology company focused on AI-driven integrated domain control solutions [13] Group 2: Public Offerings and New Listings - Seven companies initiated their public offerings, including Anjii Foods, which had a subscription rate of 44.2 times for its public offering [14][15] - Other companies like Lens Technology and Fortior also initiated their public offerings with significant interest from cornerstone investors [16][19] - Five new stocks were listed, including Yunzhisheng, which saw a closing price increase of 44.59% on its first day [20][21][22][23] Group 3: Market Insights - The Hong Kong Stock Exchange raised over HKD 107 billion in the first half of 2025, with a 20% increase in the Hang Seng Index [24] - The biopharmaceutical sector has seen a resurgence, with 10 companies successfully listing in the first half of 2025, compared to only 12 for the entire previous year [25][26] - The total fundraising amount for the biopharmaceutical sector reached HKD 15.6 billion in the first half of 2025, indicating strong market interest [26][27]

Group 1: Industry Overview - Moutai's batch price stabilizes and rebounds, indicating potential improvement in sentiment within the liquor sector [1][11] - Short-term demand fluctuations are expected to lead to a quarter-on-quarter slowdown in the liquor sector for Q2 2025, but leading liquor companies are working to maintain price stability [1][11] - The snack sector shows stability in traditional channels and rapid growth in membership supermarket channels, with new products expected to launch in the second half of 2025 [1][11] Group 2: Company-Specific Insights - Luzhou Laojiao is actively embracing new consumption trends, improving market inventory, and planning to expand its terminal count to 4 million over the next five years [2] - Yanghe's new leadership is expected to drive organizational adjustments and enhance operational dynamics, with new products launched to target younger consumers [3] - Jiu Gui Jiu is focusing on brand education and product strategies, including low-end and low-alcohol products, while optimizing its channel structure [4] - New Dairy is experiencing double-digit growth in low-temperature milk, with cost advantages expected to enhance profit release capabilities [5] - Jin Zai Foods is in a cautious operational phase, with stable performance in traditional and snack channels, while exploring new product launches [6] - Youyi Foods is seeing strong sales performance and successful new product launches, particularly in membership channels [7] - Zhongchong's self-owned brands are growing, with stable domestic market performance and increased overseas factory output [8] - Petty's domestic market is expanding into staple food areas, with a focus on low-sensitivity, high-nutrition products [9] - Anjiu Foods has successfully listed its H-shares, raising approximately 2.302 billion HKD from the global offering [10]