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。 Keep Inc. Keep Inc.（「本公司」連同附屬公司及合併聯屬實體，統稱「本集團」）董事會（「董 事會」）茲通告謹定於2025年8月25日（星期一）舉行董事會會議，以考慮及通過本 集團截至2025年6月30日止六個月之中期業績（「中期業績」）以及處理其他事項。 本公司的管理層將於2025年8月25日（星期一）下午8時正（北京時間）召開電話會 議，以討論中期業績及回答問題。電話會議詳情如下： 活動名稱：Keep 2025中期業績電話會議 註冊鏈接： https://register-conf.media-server.com/register/BI553d63412e324eb782a509c4a6228f33 所有與會者須於電話會議召開前使用上文提供的鏈接完成在線註冊程序。註冊 後，各與會者將收到一組用以參與電話會議的與會者撥入號碼及個人密碼。 此外，電話會議的網上直播及錄音可於本公司投資者關 ...

Group 1: Macro Strategy and Market Overview - The three major equity indices continued to rise in early August, with the Shanghai Composite Index and Shenzhen Component Index both increasing by over 2%, and the ChiNext Index rising by 4.88% [20][21] - The central bank's net cash injection was 163.5 billion yuan, maintaining stable liquidity in early August, with the 7-day reverse repo rate (DR007) hovering around 1.45% [21][22] - Commodity prices showed mixed trends, with non-ferrous metals rebounding, crude oil slightly declining, and precious metals rebounding again [21] Group 2: Fixed Income and Bond Market - The upcoming issuance of 20-year special government bonds is expected to peak, presenting trading opportunities during the issuance process [2] - The new and old bond yield spread for 20-year bonds typically narrows by 0.4-1.5 basis points, with notable exceptions during significant market events [2] Group 3: Export Growth and Trade Analysis - China's exports showed steady growth in the first seven months of 2025, with a cumulative year-on-year increase of 6.1%, surpassing the 5.8% growth rate for the entire year of 2024 [23][24] - The global trade volume is expected to cool down in the second half of the year, influenced by preemptive demand in the U.S. and a decline in imports [23][24] - China's share of global exports has been increasing, with a notable rise in exports to non-U.S. regions compensating for declines in U.S. exports [24][25] Group 4: Company-Specific Insights - Yuan Da Pharmaceutical achieved a revenue of 10.784 billion yuan in 2024, a year-on-year increase of 10.59%, and a net profit of 2.286 billion yuan, up 31.28% [28][31] - The company is pioneering a new treatment for sepsis, STC3141, which has shown promising results in clinical trials [29][30] - Yuan Da's nuclear medicine segment is expanding, with significant sales growth expected from its core product, yttrium-90 microspheres, which has treated nearly 2,000 patients [30][31] Group 5: Industry Trends and Recommendations - The semiconductor industry is projected to continue its optimistic growth trajectory in 2025, driven by AI and high-performance computing [7] - The demand for storage solutions, particularly HBM and DDR5, is expected to remain strong, with price increases anticipated in the third quarter [7] - The construction materials sector, particularly cement and explosives, is expected to benefit from major infrastructure projects like the New Tibet Railway [34]

Investment Rating - The industry investment rating is "Outperform the Market," indicating an expected industry index increase of over 5% in the next six months [58]. Core Insights - The report highlights the significant advancements in AI applications, particularly with the release of OpenAI's GPT-5, which is expected to accelerate commercialization in various high-frequency, high-value verticals [7][5]. - Companies like Duolingo, Palantir, and AppLovin have reported earnings that exceeded market expectations, showcasing the growing revenue contributions from AI capabilities [7][5]. - The report suggests a focus on companies with high retention rates and growth potential in sectors such as education, e-commerce, advertising, and enterprise data analysis [7][5]. Summary by Sections Key Company Financials - **Palantir**: Q2 revenue reached $1.004 billion, a 48% year-over-year increase, with a GAAP operating income of $269 million and an adjusted gross margin of 82% [14]. - **AMD**: Q2 revenue was $7.685 billion, a 32% year-over-year increase, with a gross margin of 54% and operating income of $897 million [19]. - **AppLovin**: Q2 advertising revenue grew 77% year-over-year to approximately $1.26 billion, with an adjusted EBITDA of $1.02 billion [24]. - **Duolingo**: Q2 revenue reached $252.3 million, a 41% year-over-year increase, with a gross margin of 72.4% [29]. - **Datadog**: Q2 revenue was $827 million, a 28% year-over-year increase, with a gross margin of 80.9% [33]. Global AI Developments - OpenAI launched two new large language models, gpt-oss-120b and gpt-oss-20b, which are open-weight models aimed at enhancing AI application performance [36]. - Google DeepMind introduced Genie 3, a model capable of generating interactive virtual worlds in real-time, marking a significant milestone in world modeling [40]. - Anthropic released Claude Opus 4.1, which shows improvements in coding and reasoning capabilities compared to its predecessor [45]. - OpenAI's GPT-5 was officially released, featuring a significant reduction in hallucination rates and enhanced reasoning capabilities [49].

Core Insights - Keep has launched a new sub-brand "Shengxi Jian" on its marketplace, focusing on aesthetic products like meditation crystals to help users connect with themselves, others, and the world [1][2] - The sub-brand aims to provide psychological services, exercise courses, and natural aesthetic objects to support users' self-exploration and growth [1][2] Product Offerings - The "Shengxi Jian" crystal aesthetic series includes three product lines: "Wancheng Series," "Xinghe Rumen Series," and "Conglong Linmu Series" [1] - The "Wancheng Series" features seven single items made from various crystals, while the other two series include products made from amethyst and grape stone, such as wind chimes and meditation crystal sets [1] User Engagement - The marketplace offers a "psychological testing service" that provides users with a 3-5 minute test to help them understand and manage their emotions [1] - The initiative reflects a growing trend among users seeking deeper self-care methods alongside physical fitness [2] Brand Philosophy - The name "Shengxi Jian" reflects the brand's unique perspective, emphasizing the balance between life growth and internal energy cycles [1] - The focus is on recovery and connection rather than mere consumption and shaping, aiming to foster a sustainable and self-sufficient lifestyle for users [2]

Group 1 - Yisou Technology (02550) rose nearly 12.63% after announcing a share subscription agreement with Lightnet Pte. Ltd., acquiring approximately 1.23% equity for $5 million [1] - Maifushi (02556) fell nearly 2.28% despite a profit forecast of RMB 31.8 million to RMB 41 million for the six months ending June 30, 2025, a significant turnaround from a loss of RMB 820 million in the same period last year [1] - New World Development (00086) increased nearly 4.19% after announcing a profit forecast of no less than HKD 800 million for the six months ending June 30, 2025, compared to HKD 75.4 million in the same period last year [2] Group 2 - Cao Cao Travel (02643) surged nearly 15.68% after signing a strategic cooperation memorandum with Victory Securities to explore virtual asset tokenization and stablecoin applications [2] - Boan Bio (06955) dropped nearly 5.06% after announcing a placement of 48 million shares at HKD 16.42 each, aiming to raise approximately HKD 780 million for R&D and operational purposes [2] - Huaxing Capital Holdings (01911) rose nearly 6%, with a year-to-date stock price increase of 1.1 times, as it plans to invest $100 million in Web 3.0 and cryptocurrency assets [3] Group 3 - Cathay Pacific Airways (00293) continued to decline nearly 3% after a report indicated an 8.3% year-on-year increase in net profit for the first half of the year, but operating profit fell short of market expectations [3] - Keep (03650) rose over 10%, with a cumulative increase of over 22% this week, reporting an adjusted net profit of approximately RMB 10 million for the first half of the year [4] - Smoore International (06969) increased nearly 5%, with BAT's new tobacco product revenue growing 2.4% year-on-year, and Smoore is expected to benefit from this growth [4] Group 4 - Xiaomi Group-W (01810) fell over 4% after Nomura raised its target price by 79% to HKD 61 but downgraded its rating to "Neutral" due to limited upside potential [5] - Apple (AAPL.US) rose 5.09% after announcing a commitment to invest an additional $100 billion in U.S. manufacturing, bringing its total investment commitment to $600 billion [6] - McDonald's (MCD.US) increased 2.98% with second-quarter revenue growing 5.4% year-on-year to $6.84 billion, exceeding analyst expectations [6]

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: Keep Inc.（於開曼群島註冊成立的有限公司） | 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) | 03650 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 514,436,587 | | 11,235,400 | | 525,671,987 | | 增加 / 減少 (-) | | | -200,000 | | 200,000 | | | | 本月底結存 | | | 514,236,587 | | 11,435,400 | | 525,671,987 | 第 2 頁 共 12 頁 v 1.1.1 呈交日期: 2025年8月4日 I. 法定 ...

Core Viewpoint - KEEP is experiencing significant improvement in its financial performance, with a projected net loss reduction and a return to adjusted profitability, primarily driven by business restructuring and AI technology integration [1][2] Financial Performance - KEEP expects a net loss of approximately 36 million RMB for the first half of 2025, a substantial decrease from a net loss of 163 million RMB in the same period of 2024 [1] - The adjusted net profit is projected to be around 10 million RMB, compared to an adjusted net loss of 161 million RMB in 2024 [1] Business Strategy and AI Integration - In February 2025, KEEP announced its "All in AI" strategy, marking a significant shift towards integrating AI into its business model [2] - The company launched its first dedicated model in the sports health vertical, Kinetic.ai, in March, followed by the introduction of a general AI coach named Kaka [2] - The new version of the AI coach released in May includes multi-modal capabilities, offering users intelligent workout plans, training guidance, and dietary tracking [2] Strategic Goals - KEEP set a target to return to profitability in 2025, and the recent half-year profit marks a critical validation of its AI strategy [2] - The achievement of this interim profitability indicates a successful transition from an internet-based model to an AI-driven agent model, showcasing the potential of AI to reshape its business operations [2]

Summary of Key Points Core Viewpoint - On July 23, 21 Hong Kong-listed companies conducted share buybacks, totaling 20.97 million shares and an aggregate amount of HKD 44.00 million [1][2]. Group 1: Buyback Details - VITASOY INT'L repurchased 1.402 million shares for HKD 12.98 million, with a highest price of HKD 9.260 and a lowest price of HKD 9.230, accumulating HKD 151.00 million in buybacks for the year [1][2]. - China Eastern Airlines repurchased 2.50 million shares for HKD 7.32 million, with a highest price of HKD 2.970 and a lowest price of HKD 2.900, totaling HKD 601.30 million in buybacks for the year [1][2]. - China Feihe repurchased 1.00 million shares for HKD 4.70 million, with a highest price of HKD 4.700, accumulating HKD 93.00 million in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on July 23 was from VITASOY INT'L at HKD 12.98 million, followed by China Eastern Airlines at HKD 7.32 million [1][2]. - In terms of share quantity, the most shares repurchased were by Shoujia Technology at 7.40 million shares, followed by China Eastern Airlines at 2.50 million shares [1][2].

Group 1: Lottery Sales - In June, national lottery sales reached 54.482 billion yuan, a year-on-year decrease of 2.6% [1] - Welfare lottery sales amounted to 18.130 billion yuan, an increase of 0.7% year-on-year, while sports lottery sales were 36.351 billion yuan, down 4.2% [1] - Cumulative lottery sales from January to June totaled 317.854 billion yuan, a year-on-year increase of 3.0% [1] Group 2: E-commerce Development - The Ministry of Commerce reported that e-commerce has been effectively promoting consumption expansion and digital transformation since 2025 [2] - Policies aimed at expanding consumption have been successfully implemented in the e-commerce sector, fostering quality e-commerce and supporting foreign trade [2] Group 3: Uber's WeChat Mini Program - Uber launched a WeChat mini program allowing users to book rides directly within WeChat, facilitating payment through WeChat Pay [3][4] - The mini program is currently available in Hong Kong and Japan, with plans to expand to nine other countries [3] Group 4: Transportation Trends - Self-driving has become the mainstream mode of cross-regional travel, with approximately 130 million daily self-driving trips, accounting for over 70% of cross-regional mobility [5] - The Ministry of Transport announced a projected reduction in transportation costs by about 280 billion yuan in 2024 [6][7] Group 5: Internet Penetration - As of June, China's internet user base reached 1.123 billion, with an internet penetration rate of 79.7% [7] - The report highlights significant achievements in internet infrastructure and the rapid development of emerging markets [7][8] Group 6: Laser Technology Advancement - A research team from Harbin Institute of Technology made significant breakthroughs in laser technology, enabling customizable laser wavefronts [9] - This advancement enhances the application potential of lasers in various fields such as communication and imaging [9] Group 7: IPO and Corporate Developments - Sichuan Baili Tianheng Pharmaceutical's Hong Kong IPO application has expired after six months [10] - Guangzhou Light Industry Group is pursuing legal action against Ningbo Hanyi for alleged malicious breach of contract regarding equity transfer [11] Group 8: Robotics Supply Chain - Haopeng Technology has entered the supply chain for various types of robots, leveraging its expertise in battery solutions [12] Group 9: Keep's Financial Performance - Keep is expected to achieve an adjusted net profit of approximately 10 million yuan for the first half of 2025, significantly narrowing its losses compared to the previous year [13][15] Group 10: Semiconductor Manufacturing in India - India's first domestically produced chip is set to be launched this year, with six semiconductor factories under construction for mass production [16]

Core Insights - Keep is expected to report a loss of approximately 36 million yuan for the six months ending June 30, 2025, a reduction of about 78% compared to a loss of 163 million yuan for the same period ending June 30, 2024 [1] - The company anticipates an adjusted net profit of around 10 million yuan for the same period, compared to an adjusted net loss of 161 million yuan for the previous year [1] Group 1 - The improvement in profitability is attributed to a focus on optimizing business structure and revenue quality, leading to an increase in gross margin [3] - The integration of AI technology is expected to enhance operational efficiency and reduce operating costs, despite a short-term revenue contraction due to the streamlining of inefficient product categories [3] - The strategic focus remains on two core areas: AI integration in the app and the continued profitable growth of proprietary fitness products [3] Group 2 - The company aims to enhance user experience and retention through AI-driven improvements in sports scenarios and tools [3] - Keep plans to optimize its product structure and launch new products that meet market demand while expanding sales channels to increase market coverage [3] - On February 4, during its 10th anniversary, the founder emphasized a commitment to "All in AI" and developing a data-centric hardware ecosystem to expand the brand's presence in various sports scenarios and global markets [4]