上述亏损被新业务分部"时装品牌及专营业务"的经营溢利约6600万港元(2024年：经营亏损3400万港元) 所缓和。 (2)来自运动服生产业务的经营亏损为约2600万港元(2024年：经营溢利1600万港元)，主要是由于集团位 于东南亚的生产设施在本年度上半年处理若干主要订单时出现原材料问题，导致生产及运输成本较预期 为高所致。 (3)来自高级功能户外服装生产业务的经营亏损为约800万港元(2024年：经营溢利3800万港元)，主要是 由于集团进行策略调整，减少依赖外判成衣生产商，同时逐步增加内部产能。此转型旨在更好地控制产 品品质及提升长期经营效率，惟导致收益暂时下降。 (1)近年，香港及中国大陆市场持续低迷，消费者需求疲弱，高级时装零售业务持续面对重大挑战。此 等情况导致该分部产生重大经营亏损。 董事会近期进行全面策略检讨后，已决定终止高级时装零售业务，并重新分配资源以发展全新业务分 部"时装品牌及专营业务"—我们时装业务的一个轻资产业务模式，具有更强劲的增长前景，并提升盈利 能力。 来自高级时装零售业务已终止经营业务的经营亏损为约1.56亿港元(2024年：经营亏损2900万港元)，主 要来自商誉减值约 ...

董事会近期进行全面策略检讨后，已决定终止高级时装零售业务，并重新分配资源以发展全新业务分 部"时装品牌及专营业务"— 我们时装业务的一个轻资产业务模式，具有更强劲的增长前景，并提升盈 利能力。 智通财经APP讯，永嘉集团(03322)发布公告，集团预期截至2025年12月31日止年度(本年度)将取得除税 后亏损约1.8亿港元，而截至2024年12月31日止年度(去年度)则取得除税后亏损6200万港元。本年度的除 税后亏损包括来自持续经营业务的亏损约2000万港元(2024年：2600万港元)及来自已终止经营业务的亏 损约1.6亿港元(2024年：3600万港元)。 本年度的预估除税后亏损主要源于以下原因： (1)近年，香港及中国大陆市场持续低迷，消费者需求疲弱，高级时装零售业务持续面对重大挑战。此 等情况导致该分部产生重大经营亏损。 (2)来自运动服生产业务的经营亏损为约2600万港元(2024年：经营溢利1600万港元)，主要是由于集团位 于东南亚的生产设施在本年度上半年处理若干主要订单时出现原材料问题，导致生产及运输成本较预期 为高所致。 (3)来自高级功能户外服装生产业务的经营亏损为约800万港元(20 ...

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。 本公司董事會（「董事會」）謹此通知本公司股東及有意投資者，根據目前已有資料及 本集團截至二零二五年十二月三十一日止年度（「本年度」）的未經審核合併管理賬 目，本集團預期本年度將錄得除稅後虧損約180,000,000港元，而截至二零二四年十 二月三十一日止年度（「去年度」）則錄得除稅後虧損62,000,000港元。本年度的除稅後 虧損包括來自持續經營業務的虧損約20,000,000港元（二零二四年：26,000,000港元） 及來自已終止經營業務的虧損約160,000,000港元（二零二四年：36,000,000港元）。 — 1 — 本年度的預估除稅後虧損主要源於以下原因： Win Hanverky Holdings Limited 永嘉集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：3322） 盈利警告及業務最新情況 本公告乃永嘉集團控股有限公司（「本公司」，連同其附屬公司統稱「本集團」 ...

Group 1: Core Insights - The 2026 FIFA World Cup in North America is set to begin in June, with significant pre-event sales of related sports merchandise already observed in Yiwu, China [1] - Yiwu's sports goods and equipment exports reached 11.65 billion yuan in 2025, marking a 20.3% year-on-year increase, with major export markets including the USA, Brazil, and Saudi Arabia [1] - The upcoming World Cup is expected to generate a consumption boom, benefiting local manufacturers and suppliers in Yiwu, which has historically capitalized on major sporting events [1] Group 2: Industry Impact - Analysts predict a surge in demand for sports-related products during the World Cup, directly benefiting the performance of related companies [2] - The commercial value of the World Cup exceeds $30 billion, significantly higher than other sports events, indicating strong economic activity linked to the tournament [2] - Investment opportunities are identified in four main areas: lottery sales and operators, sports venue facilities and equipment suppliers, electronic display providers, and leisure food and beverage suppliers [2] Group 3: Related Companies - Anta Sports (02020) has acquired Puma, a major sponsor of the 2026 World Cup, and holds partnerships with top clubs like Manchester City and AC Milan [3] - Shenzhou International (02313) manufactures football apparel for brands like Nike and Adidas, ensuring stable order flow [3] - Hisense (00921) is a global official sponsor of the 2026 World Cup, marking its third consecutive sponsorship [4] - Yongjia Group (03322) specializes in manufacturing fan scarves and flags, positioning itself as a core enterprise in the Yiwu supply chain [5] - Rainbow International Group (02678) supplies high-quality fabrics for football apparel related to the World Cup [6]

Group 1: Market Overview - The 2026 FIFA World Cup will commence in June, with significant demand for related sports products already observed in Yiwu, China, starting from May 2025 [1] - Yiwu's exports of sports goods and equipment reached 11.65 billion yuan in 2025, marking a 20.3% year-on-year increase, with major export markets including the USA, Brazil, and Saudi Arabia [1] - Yiwu has historically benefited from major sporting events, with a significant share of the global market for World Cup-related merchandise, accounting for 70% during the last World Cup [1] Group 2: Company Insights - Anta Sports (02020) has acquired Puma, the third-largest sponsor for the 2026 World Cup, and holds resources from top clubs like Manchester City and AC Milan [3] - Shenzhou International (02313) is a stable supplier for Nike and Adidas, producing football apparel with strong order stability [3] - Hisense (00921) is the global official sponsor for the 2026 World Cup, marking its third consecutive sponsorship [4] - Yongjia Group (03322) manufactures fan scarves and flags, positioning itself as a core enterprise within the Yiwu industrial chain [5] - Tianhong International Group (02678) supplies high-quality fabrics for football apparel related to the World Cup [6] Group 3: Investment Opportunities - Analysts suggest that companies related to sports goods will benefit directly from the World Cup, with a focus on four investment themes: lottery sales and operators, sports venue facilities and equipment suppliers, electronic display providers, and leisure food and beverage suppliers [2]

FF301 第 1 頁 共 10 頁 v 1.2.0 公司名稱: Win Hanverky Holdings Limited 永嘉集團控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2026年2月2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) | 03322 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,000,000,000 | HKD | | 0.1 HKD | | 300,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 3,000,000,000 | HKD | | 0.1 HKD | | 300,000,000 | 本月底法定/註冊股本總額： HKD 300,000,000 股 ...

Market Overview - The Hong Kong stock market experienced a "V"-shaped movement, with the Hang Seng Index down by 0.99% to 26,578 points, the Hang Seng Tech Index down by 1.15% to 5,755.35 points, and the National Enterprises Index down by 0.85% to 9,142.45 points [1] - Major airline stocks saw significant gains, with China Eastern Airlines up over 9% and China Southern Airlines up 6.5% [1] - Large tech stocks generally declined, with Alibaba down 3.31%, Tencent down 1.13%, and JD.com down 1.23% [1] - Biopharmaceutical stocks also fell, with WuXi Biologics down over 5% [1] - Broker stocks decreased, with Shenwan Hongyuan down over 3% [1] Company News - China Shenhua (01088.HK) expects coal sales to be 431 million tons in 2025, a decrease of 6.4% year-on-year [2] - New China Life Insurance (01336.HK) anticipates cumulative original insurance premium income of 195.899 billion yuan in 2025, a 15% increase year-on-year [3] - Yongjia Group (03322.HK) projects a revenue growth rate of approximately 16% for its high-end fashion retail business in Q4 2025 [4] - Ronshine China (03301.HK) expects total contract sales of about 3.777 billion yuan in 2025, a decrease of 50.96% year-on-year [5] - Tianhong International Group (02678.HK) forecasts a net profit increase of about 60% for the 2025 fiscal year due to a recovery in domestic and international market orders [5] - Quzhi Group (00917.HK) anticipates turning a profit in 2025, with net profit between 270 million to 330 million yuan, compared to a loss of 1.663 billion yuan in the previous year [5] - October Rice Field (09676.HK) expects adjusted net profit of approximately 550 million to 590 million yuan in 2025, a year-on-year increase of about 57.6% to 69.1% [5] - China Boton (03318.HK) issued a profit warning, expecting goodwill impairment losses of no less than 750 million yuan for its tobacco flavoring business in 2025 [5] Institutional Insights - Huatai Securities notes that the core factors driving the market rebound in Q1 remain unchanged, including overall loose financial conditions and improved profit expectations [9] - Tianfeng Securities believes that the Hong Kong market has the basis for a rebound but remains cautious due to high overseas interest rates [9] - Guojin Securities expects the valuation advantages of the Hong Kong market to become more pronounced as the domestic economy recovers and overseas monetary policies turn accommodative [10] - Industrial Securities recommends focusing on leading companies in the AI sector and suggests opportunities in dividend assets and new consumption areas [10]

Market Overview - The Hong Kong stock market opened slightly lower on January 19, with the Hang Seng Index down 0.76% at 26,641.6 points, the Hang Seng Tech Index down 0.77% at 5,777.07 points, the State-Owned Enterprises Index down 0.76% at 9,151.07 points, and the Red Chip Index down 0.4% at 4,122.65 points [1] - Major tech stocks experienced declines, including Alibaba down 2.53%, Tencent down 0.65%, JD.com down 0.53%, Xiaomi down 1.29%, NetEase down 0.83%, Meituan down 1.2%, Kuaishou down 1.53%, and Bilibili down 2.69% [1] - The non-ferrous metals sector was active, with Zijin Mining rising over 3%, while the lithium battery sector saw most stocks increase, with BYD rising over 1% [1] - Some domestic property stocks fell, with Country Garden down over 10%, and the biopharmaceutical sector opened lower, with Tigermed down over 2% [1] Company News - China Shenhua (01088.HK) expects coal sales volume in 2025 to be 431 million tons, a year-on-year decrease of 6.4% [2] - New China Life Insurance (01336.HK) anticipates cumulative original insurance premium income in 2025 to reach 195.899 billion yuan, a year-on-year increase of 15% [3] - Yongjia Group (03322.HK) projects a revenue growth rate of approximately 16% for its high-end fashion retail business in the fourth quarter of 2025 [4] - Ronshine China (03301.HK) expects total contract sales in 2025 to be approximately 3.777 billion yuan, a year-on-year decrease of 50.96% [5] - Tianhong International Group (02678.HK) issued a profit warning, expecting a net profit increase of about 60% for the 2025 fiscal year due to a recovery in domestic and international market orders [5] - Qizhi Group (00917.HK) anticipates turning a profit in 2025, with net profit estimated between 270 million to 330 million yuan, compared to a loss of 1.663 billion yuan in the previous year [5] - October Rice Field (09676.HK) issued a profit warning, expecting adjusted net profit of approximately 550 million to 590 million yuan in 2025, a year-on-year increase of about 57.6% to 69.1% [5] - China Boton (03318.HK) issued a profit warning, expecting goodwill impairment losses of no less than approximately 750 million yuan for its tobacco flavor business in 2025 [5] Strategic Insights - Guojin Securities suggests that the Hong Kong stock market is entering a "spring market" at the beginning of 2026, likely to continue until mid-year, driven by domestic and international easing expectations and policy collaboration [9] - Galaxy Securities anticipates narrow fluctuations in the Hong Kong stock market due to reduced short-term interest rate cut expectations from the Federal Reserve and increased global geopolitical uncertainties [9] - GF Securities views the chemical industry as a typical cyclical sector, predicting a "dawn" phase for the chemical industry amid capital expenditure growth turning negative and a focus on domestic demand expansion [9]

Core Viewpoint - Yongjia Group (03322.HK) reported mixed performance in its high-end fashion retail business, with a notable increase in overall revenue growth driven by wholesale sales to franchisees, despite a decline in same-store sales [1] Group 1: Sales Performance - The same-store sales growth rate for the high-end fashion retail business in Q4 2025 and year-to-date 2025 is approximately +2% and -4% respectively [1] - The overall revenue growth rate for the high-end fashion retail business in Q4 2025 and year-to-date 2025 is approximately +16% and +8% respectively [1] Group 2: Store Operations - As of December 31, 2025, the group operates a total of 75 direct retail stores in the high-end fashion segment, down from 102 stores as of December 31, 2024 [1] - The introduction of a franchise store model for a rapidly growing brand is planned for the second half of 2024 [1]

Core Viewpoint - Yongjia Group (03322) reported mixed performance in its high-end fashion retail business, with a projected same-store sales growth rate of approximately +2% for Q4 2025 and -4% year-to-date in 2025, while overall revenue growth rates for the same periods are expected to be +16% and +8% respectively [1] Group 1: Sales Performance - The same-store sales growth rate for high-end fashion retail is projected at +2% for Q4 2025 [1] - The year-to-date same-store sales growth rate for 2025 is projected at -4% [1] - Overall revenue growth for the high-end fashion retail business is expected to be +16% for Q4 2025 [1] Group 2: Revenue Drivers - The overall revenue growth rate for the high-end fashion retail business year-to-date in 2025 is projected at +8% [1] - The increase in overall revenue growth is primarily driven by wholesale revenue from sales to franchisees of a rapidly growing brand introduced in the second half of 2024 [1]