Core Viewpoint - Winner Fashion (03709) has announced that, according to the terms and conditions of its share award plan, the trustee has purchased a total of 473,000 shares of the company from the market on November 11, 2025, and holds them in trust for the benefit of selected participants [1] Group 1 - The share award plan involves the purchase of shares for selected participants [1] - A total of 473,000 shares were acquired by the trustee [1] - The shares are held in trust for the benefit of the participants [1]

Core Viewpoint - The company, Winner Fashion (03709.HK), announced the purchase of a total of 473,000 shares from the market as part of its share award plan, with the shares held in trust for the benefit of selected participants [1] Group 1 - The trustee of the share award plan has acquired 473,000 shares on November 11, 2025 [1] - The shares are held in trust for the benefit of selected participants [1]

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。 （於開曼群島註冊成立之有限公司） （股份代號：3709） 自願性公告 根據股份獎勵計劃購買股份 茲提述贏家時尚控股有限公司（「本公司」）日期為二零二四年四月十日的公告（「該 公告」），內容有關本公司採納股份獎勵計劃（「股份獎勵計劃」）。除文義另有所指 外，本公告所用詞彙與該公告所界定者具有相同涵義。 根據股份獎勵計劃的條款及條件，股份獎勵計劃的受託人已於二零二五年十一月 十一日從市場購買合共473,000股本公司股份（「股份」），並為獲選參與者的利益以 信託方式持有。購買詳情如下： | 購買日期 | ： | 二零二五年十一月十一日 | | --- | --- | --- | | 購買股份總數 | : | 473,000股股份 | | 購買股份佔現有已發行股份總數的百分比 | ： | 約0.0667% | | 每股股份平均購買價 | ： | 約8.563港元 | | 總購買價（不包括所有相關費用、交易徵費 ...

Market Overview - In October, the A-share textile and apparel sector outperformed the broader market, with textile manufacturing performing better than branded apparel. Since November, the sector has continued to show strong performance, with branded apparel increasing by 3.4% and textile manufacturing by 2.9% [1][12] - The Hong Kong textile and apparel index fell by 4.9% in October but has since turned positive in November [1][19] Brand Apparel Insights - Retail sales of clothing in September grew by 4.7% year-on-year, with a month-on-month increase of 1.6 percentage points [1][21] - E-commerce showed strong performance in October, with all categories experiencing month-on-month growth. Outdoor apparel led year-on-year growth, with sportswear, outdoor wear, leisure wear, home textiles, and personal care products showing growth rates of 0%, +19%, 0%, +1%, and +2% respectively [1][21] - Leading brands in sportswear included Lululemon (+88%), Asics (+47%), and Descente (+35%). In outdoor brands, Kailas (+55%), Berghaus (+41%), and Camel (+39%) showed strong growth. In leisure wear, Dazzle (+93%), Li Ning (+85%), and Xuezhongfei (+49%) experienced rapid growth [1][21] Textile Manufacturing Insights - On a macro level, the textile export growth in October was impacted by high base effects from the previous year, with Vietnam's textile exports declining by 1.0% year-on-year and China's textile exports down by 9.1% [1][21] - Cotton prices showed slight increases in October (+0.7%) while wool prices decreased significantly (-20.9% month-on-month) [1][21] - On a micro level, Taiwanese companies reported mixed revenue performances in October, but outlooks remain optimistic. Companies like Ju Hong expect revenue recovery in Q4, while Wei Hong has strong demand driven by the upcoming World Cup [1][21] Investment Recommendations - Focus on textile manufacturing rebound and consumer innovation opportunities. The fourth-quarter orders in textile manufacturing are expected to recover, suggesting a potential turnaround for companies facing difficulties [3][6] - Key companies to watch include Shenzhou International, which benefits from tariff reductions and Nike's recovery, and Huayi Group, which is seeing continuous improvement in profitability [6][7] Key Company Performance Predictions - Shenzhou International: Maintain "Outperform" rating with an estimated EPS of 4.37 in 2025 and 4.96 in 2026 [7] - Huayi Group: Maintain "Outperform" rating with an estimated EPS of 2.85 in 2025 and 3.48 in 2026 [7] - Kai Run Co.: Maintain "Outperform" rating with an estimated EPS of 1.52 in 2025 and 1.78 in 2026 [7] - New Australia Co.: Maintain "Outperform" rating with an estimated EPS of 0.63 in 2025 and 0.71 in 2026 [7]

Market Overview - In October, the A-share textile and apparel sector outperformed the broader market, with textile manufacturing performing better than branded apparel. Since November, the sector has continued to show strong performance, with branded apparel increasing by 3.4% and textile manufacturing by 2.9% [1][12] - The Hong Kong textile and apparel index fell by 4.9% in October but has since turned positive in November [1][19] Brand Apparel Insights - Retail sales of clothing in September grew by 4.7% year-on-year, with a month-on-month increase of 1.6 percentage points [1][21] - E-commerce showed strong performance in October, with all categories experiencing month-on-month growth. Outdoor apparel led year-on-year growth, with sportswear, outdoor wear, leisure wear, home textiles, and personal care products showing growth rates of 0%, 19%, 0%, 1%, and 2% respectively [1][21] - Leading brands in sportswear included Lululemon (88%), Asics (47%), and Descente (35%). In outdoor brands, Kailas (55%), Berghaus (41%), and Camel (39%) showed strong growth [1][21] Textile Manufacturing Insights - On a macro level, the textile export growth in October was negatively impacted by high base effects from the previous year, with Vietnam's textile exports declining by 1.0% year-on-year and China's textile exports down by 9.1% [1][21] - Cotton prices showed slight increases in October, while wool prices decreased significantly, down 20.9% month-on-month and 6.8% year-on-year [1][21] - Taiwanese companies in the textile sector are optimistic about future revenue, with several companies expecting a recovery in orders and revenue in the fourth quarter [1][6] Investment Recommendations - Focus on textile manufacturing rebound and consumer innovation opportunities. The fourth quarter is expected to see a recovery in orders, with diminishing tariff impacts and stabilizing order placements [3][6] - Key companies to watch include Shenzhou International, Huayi Group, and Kai Run Co., which are expected to benefit from improved order visibility and market demand [3][6][7] - In branded apparel, the report recommends focusing on high-end segments and brands in the sports and outdoor categories, highlighting Anta Sports, Li Ning, and Tebu International as key players [3][6]

Core Viewpoint - Winner Fashion (03709) announced the purchase of a total of 1,108,500 shares from the market by the trustee of the share award plan on November 7 and 10, 2025, which will be held in trust for the benefit of selected participants [1] Group 1 - The share award plan's trustee has acquired shares on behalf of selected participants [1] - A total of 1,108,500 shares were purchased from the market [1] - The acquisition took place on two specific dates: November 7 and November 10, 2025 [1]

Core Viewpoint - The company, Winner Fashion (03709.HK), has announced the purchase of a total of 1,109,000 shares from the market as part of its share award plan, which will be held in trust for the benefit of selected participants [1] Group 1 - The trustee of the share award plan purchased shares on November 7 and 10, 2025 [1] - The shares are held in trust for the benefit of selected participants in accordance with the terms and conditions of the share award plan [1]

Core Viewpoint - Winner Fashion (03709) has announced the purchase of a total of 1,108,500 shares from the market by the trustee of its share award plan, which will be held in trust for the benefit of selected participants [1] Group 1 - The shares were purchased on November 7 and 10, 2025 [1]

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10月31日 狀態: 重新提交 致：香港交易及結算所有限公司 公司名稱: 贏家時尚控股有限公司 呈交日期: 2025年11月11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) | 03709 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,500,000,000 | HKD | | 0.01 | HKD | | 15,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,500,000,000 | HKD | | 0.01 | HKD | | 15,000,000 | 本月底法定/ ...

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。 自願性公告 根據股份獎勵計劃購買股份 茲提述贏家時尚控股有限公司（「本公司」）日期為二零二四年四月十日的公告（「該 公告」），內容有關本公司採納股份獎勵計劃（「股份獎勵計劃」）。除文義另有所指 外，本公告所用詞彙與該公告所界定者具有相同涵義。 根據股份獎勵計劃的條款及條件，股份獎勵計劃的受託人已於二零二五年十一月 七及十日從市場購買合共1,108,500股本公司股份（「股份」），並為獲選參與者的利 益以信託方式持有。購買詳情如下： | 購買日期 | ： | 二零二五年十一月七及十日 | | --- | --- | --- | | 購買股份總數 | : | 1,108,500股股份 | | 購買股份佔現有已發行股份總數的百分比 | ： | 約0.1564% | | 每股股份平均購買價 | ： | 約8.244港元 | | 總購買價（不包括所有相關費用、交易徵費、 | ： | 約9,138,465港元 | ...