文丨 酱酱编辑丨 红豆 编审丨巴玖 2025年，在调味品这个传统赛道，正掀起一场波澜壮阔的IPO大潮。 第一军团：行业巨头选择"A+H"双平台运作 6月19日，海天味业（03288.HK）H股正式挂牌上市，成为调味品行业首家"A+H"双上市企业，首日市值一举突破2100亿港元。作为2025年以来发行规模 第二大的港股IPO，海天味业募资总额约101亿港元，用于海外市场拓展、产能扩张与供应链数字化、销售网络渗透、产品研发与技术升级等。 无独有偶。天味食品8月20日晚间发布公告，公司正在筹划发行境外上市股份（H股）并申请在香港联交所主板挂牌上市。 第二军团：细分领域龙头争相冲击北交所 5月9日，西式调味料企业百利食品正式在广东证监局完成IPO辅导备案，由招商证券担任辅导机构，计划登陆北交所，拟募集资金约11.64亿元。据悉，百 利食品于5月6日刚刚登陆新三板。 海天味业在港交所交易大厅的敲钟声余音未散，又一波调味品企业已经排队敲响资本市场的大门，包括天味食品、百利食品、幺麻子、中盐股份、广盐股 份、丹丹豆瓣等。 8月4日，幺麻子正式向北交所IPO发起冲刺。朝着"藤椒油第一股"迈进，幺麻子展现出惊人的"加速度"：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。 FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD. 佛山市海天調味食品股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3288） 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列佛山市海天調味食品股份有限公司（「本公司」）在上海證券交易所網站 ( www.sse.com.cn )刊登的本公司關於召開2025年半年度業績說明會的公告，僅供 參閱。 佛山市海天調味食品股份有限公司 董事會 香港，2025年8月21日 於本公告日期，本公司董事會成員包括：(i)執行董事程雪女士、管江華先生、黃 文彪先生、文志州先生、廖長輝先生及代文先生；及(ii)獨立非執行董事張科春先 生、屈文洲先生及丁邦清先生。 关于召开 2025 年半年度业绩说明会的公告 证券代码：603288 证券简称：海天味业 公告编号：2025-03 ...

FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD. 佛山市海天調味食品股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3288） 董事會會議召開日期 佛山市海天調味食品股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董 事會會議將於2025年8月28日（星期四）舉行，藉以（其中包括）審議及批准本公司 及其附屬公司截至2025年6月30日止六個月之中期業績及其發佈，並考慮派發中 期股息（如有）。 佛山市海天調味食品股份有限公司 董事會 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。 香港，2025年8月18日 於本公告日期，董事會成員包括：(i)執行董事程雪女士、管江華先生、黃文彪 先生、文志州先生、廖長輝先生及代文先生；及(ii)獨立非執行董事張科春先生、 屈文洲先生及丁邦清先生。 ...

Key Points - Xiaomi Group-W (01810), Crystal International Holdings (02228), and BYD Electronic (00285) ranked top in net inflow of southbound funds, with net inflows of 562 million, 227 million, and 213 million respectively [1][2] - Xpeng Motors-W (09868), Innovent Biologics (01801), and Ganfeng Lithium (01772) had the highest net outflows, with net outflows of -663 million, -535 million, and -410 million respectively [1][2] - In terms of net inflow ratio, Haitian Flavoring and Food (03288), Jiangsu Nanjing Highway (00177), and Swire Properties B (00087) led the market with ratios of 55.51%, 49.37%, and 46.46% respectively [1][2] - The highest net outflow ratios were recorded by Reshape Energy (02570), Southbound Hang Seng Index ETF (03037), and First Pacific Company (00142) with ratios of -90.77%, -68.70%, and -60.36% respectively [1][3] Net Inflow Rankings - Xiaomi Group-W (01810) had a net inflow of 562 million, representing 8.75% of its closing price of 50.800, which decreased by 0.88% [2] - Crystal International Holdings (02228) saw a net inflow of 227 million, with a net inflow ratio of 11.34% and a closing price of 7.450, which increased by 4.78% [2] - BYD Electronic (00285) recorded a net inflow of 213 million, with a net inflow ratio of 13.41% and a closing price of 38.680, which increased by 6.15% [2] Net Outflow Rankings - Xpeng Motors-W (09868) experienced the largest net outflow of -663 million, with a net outflow ratio of -20.13% and a closing price of 83.600, which increased by 5.36% [2] - Innovent Biologics (01801) had a net outflow of -535 million, with a net outflow ratio of -19.67% and a closing price of 89.950, which decreased by 1.42% [2] - Ganfeng Lithium (01772) recorded a net outflow of -410 million, with a net outflow ratio of -19.45% and a closing price of 34.000, which increased by 20.91% [2] Net Inflow Ratio Rankings - Haitian Flavoring and Food (03288) had a net inflow ratio of 55.51%, with a net inflow of 21.1399 million and a closing price of 33.560, which decreased by 0.47% [3] - Jiangsu Nanjing Highway (00177) recorded a net inflow ratio of 49.37%, with a net inflow of 14.6726 million and a closing price of 9.980, which decreased by 0.40% [3] - Swire Properties B (00087) had a net inflow ratio of 46.46%, with a net inflow of 4.0945 million and a closing price of 12.160, which decreased by 0.57% [3]

FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD. 佛山市海天調味食品股份有限公司 (A joint stock company incorporated in the People's Republic of China with limited liability) （於中華人民共和國註冊成立的股份有限公司） （Stock Code 股份代號：3288） 12 August 2025 Dear Non-registered Holder(s), Arrangement of Electronic Dissemination of Corporate Communications Pursuant to the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the articles of association of Foshan Haitian Flavouring and Food Co ...

佛山市海天調味食品股份有限公司 (A joint stock company incorporated in the People's Republic of China with limited liability) （於中華人民共和國註冊成立的股份有限公司） （Stock Code 股份代號：3288） FOSHAN HAITIAN FLAVOURING AND FOOD COMPANY LTD. Dear Shareholder(s), 12 August 2025 Arrangement of Electronic Dissemination of Corporate Communications Pursuant to the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the articles of association of Foshan Haitian Flavouring and Food Company Ltd. ...

| 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) | 03288 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 279,031,700 | RMB | | 1 RMB | | 279,031,700 | | 增加 / 減少 (-) | | | 12,192,700 | | | RMB | | 12,192,700 | | 本月底結存 | | | 291,224,400 | RMB | | 1 RMB | | 291,224,400 | | 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) | 603288 | 說明 | | ...

Group 1 - The semi-annual index review results of the Shanghai-Hong Kong Stock Connect AH Share Smart Index were announced by China Securities Index Co., Ltd. and Hang Seng Indexes Company Limited [1] - Heng Rui Medicine (01276.HK) and Hai Tian Wei Ye (03288.HK) will be added to the index [1] - Dongfang Securities (03958.HK) and GAC Group (02238.HK) will be removed from the index [1]

Summary of Key Points Core Viewpoint - The document outlines the changes in the issued shares of Foshanshi Haitian Flavoring Food Co., Ltd., including the issuance of additional H shares and the total number of shares outstanding as of specific dates [2]. Group 1: Share Issuance Details - As of June 30, 2025, the total issued shares (excluding treasury shares) were 279,031,700 [2]. - On July 21, 2025, following the partial exercise of the over-allotment option, the total issued shares increased to 291,224,400 [2]. - The document confirms that all necessary approvals and compliance with applicable listing rules and regulations have been met for the share issuance [2]. Group 2: Compliance and Regulatory Information - The company has confirmed that the issuance of shares has been authorized by the board and complies with all relevant regulations [2]. - All required documentation has been filed with the relevant authorities, ensuring adherence to legal requirements [2]. - The company has fulfilled all preconditions for listing as stipulated in the Main Board Listing Rules and GEM Listing Rules [2].

Core Viewpoint - The Hong Kong stock market experienced a significant surge in IPO activities in the first half of 2025, driven by a strong participation of cornerstone investors, leading to a total of 42 IPOs that raised HKD 107.1 billion, marking a year-on-year increase of approximately 700% and positioning Hong Kong as the leading global market for IPO fundraising [1][2]. Group 1: IPO Market Performance - In the first half of 2025, Hong Kong's IPO market completed 42 IPOs, raising a total of HKD 107.1 billion, which is a 700% increase year-on-year and a 22% increase compared to the total amount raised in 2024 [1]. - Four out of the top ten global IPOs in 2025 were from Hong Kong, highlighting the city's growing prominence in the global IPO landscape [1]. - The participation of cornerstone investors was crucial, with 36 out of 42 IPOs attracting a total of 189 cornerstone investors, accounting for 85.71% of the IPOs [2]. Group 2: Characteristics of Cornerstone Investors - The cornerstone investment in Hong Kong's IPOs showed three notable trends: a significant clustering of investors, a preference for industry-leading companies, and impressive investment returns [2][4]. - A total of 452.02 million HKD in cornerstone investments represented over 42% of the total fundraising in the market, indicating strong confidence from capital sources [2]. - Leading companies such as Ningde Times, Haitian Flavoring, and Sanhua Intelligent Control attracted a total of 60 cornerstone investors, accounting for 31.7% of the total, with investment amounts reaching HKD 351.4 billion, which is over 77% of the total cornerstone investment [2][4]. Group 3: Investment Returns and Market Dynamics - As of July 15, 2025, 31 out of 36 IPOs with cornerstone investors saw their stock prices rise compared to their issue prices, with 21 companies experiencing price increases exceeding 50% [4]. - The diverse composition of cornerstone investors, including local state-owned platforms, foreign institutions, public funds, and individual investors, contributed to a robust market environment [5][10]. - The participation of foreign institutions in cornerstone investments has notably increased, with significant investments from entities like the Kuwait Investment Authority and the Singapore Government Investment Corporation [7][10]. Group 4: Sector Focus and Future Outlook - Cornerstone investors are primarily focusing on sectors such as new energy, consumer goods, pharmaceuticals, and advanced manufacturing, aligning with national industrial policies and market trends [10]. - The involvement of cornerstone investors is expected to stabilize new stock prices and build investor confidence, with major institutions playing a key role in reducing market volatility [10]. - Looking ahead, the Hong Kong IPO market is anticipated to attract more quality enterprises, with local state-owned enterprises and foreign institutions expected to deepen their involvement in cornerstone investments [10].