Regulatory Actions - The National Financial Regulatory Administration, in conjunction with the Market Supervision Administration and the People's Bank of China, conducted discussions with six travel platform companies, including Ctrip and Gaode Map, to regulate lending marketing practices and enhance information disclosure and consumer protection [1] - The regulatory focus is on misleading advertising and insufficient risk warnings in assistive lending services, emphasizing the need for platforms to clearly disclose lending entities to ensure rational decision-making by users [1] Market Performance - On February 20, 2026, Zoli Small Loan (06866.HK) closed at HKD 0.38, with a daily decline of 1.32% and a trading volume of only HKD 750, indicating extremely low trading activity [1] - Technically, the stock price is below the 5-day moving average (HKD 0.38), with a negative MACD histogram (-0.005) and a KDJ indicator showing the J line dropping to 58.21, suggesting weak short-term momentum [1] - The credit sector experienced a decline of 2.93% on the same day, while the Hang Seng Index fell by 1.10%, indicating increased pressure on individual stocks within the sector [1]

| 股票名称 | 机构名称 | 性质 | 变动前持股 | 变动后持股 | 持股比 | | --- | --- | --- | --- | --- | --- | | 佐力小贷(06866) | 俞寅 | 好仓 | 4.43 亿股 | 4.57 亿股 | 51.99%(最新) 50.39%(前次) | | 贪玩(09890) | 吴旭波 | 好仓 | 2.78 亿股 | 2.78 亿股 | 52.05%(最新) 52.04%(前次) | | 佐力小贷(06866) | Deqing Puhua Energy Company Limited (德清普华 | 好仓 | 4.43 亿股 | 4.57 亿股 | 51.99%(最新) 50.39%(前次) | | | 能源股份有限公 司) | | | | | | 佐力小贷(06866) | 俞有强 | 好仓 | 4.43 亿股 | 4.57 亿股 | 51.99%(最新) 50.39%(前次) | | 佐力小贷(06866) | 张建明 | 好仓 | 4.43 亿股 | 4.57 亿股 | 51.99%(最新) 50.39%(前次) | 智通财经APP获悉，佐力小贷(0 ...

Group 1 - Zhaoli Small Loan (06866.HK) experienced a fluctuating upward trend in stock price, rising from HKD 0.36 to HKD 0.39, with a cumulative increase of 1.32% and a volatility of 9.21% during the period from February 4 to February 11, 2026 [1] - The overall trading volume was low, with a total of 274,000 shares traded and a maximum turnover rate of only 0.05%, indicating limited market activity [1] - Technical indicators showed a slight improvement in short-term momentum, with the MACD histogram narrowing from -0.007 to -0.003 and the KDJ indicator rising sharply from 22.008 to 101.827 [1] Group 2 - Recent regulatory developments in the small loan industry may indirectly affect market sentiment, as evidenced by the fine imposed on Beihua Small Loan for "operating beyond approved scope," highlighting tightening regulations on cross-regional online lending [2] - Although there were no direct incidents involving Zhaoli Small Loan, the compliance pressures within the industry could lead to increased market scrutiny of similar companies [2]

Core Insights - The article discusses the performance of three condiment companies: Lao Gan Ma, Lianhua Holdings, and Haitian Flavoring, highlighting their strategies and market positions in a challenging industry environment [1][29]. Group 1: Lao Gan Ma - Lao Gan Ma achieved a sales revenue of 5.391 billion yuan in 2024, nearing its historical peak of 5.403 billion yuan in 2020, with a continuous recovery in performance since 2022 [1][3]. - The company's founder, Tao Huabi, returned to management in 2019 and implemented key strategies such as product formula adjustments and a focus on core products and channels, leading to a "return to basics" approach [3][4]. - Lao Gan Ma has established a robust offline sales network across urban and rural areas, leveraging a "big regional general distribution + multi-level distribution" model, while also expanding its overseas market presence to 160 countries by 2024 [5][6]. Group 2: Lianhua Holdings - Lianhua Holdings expects a net profit of 290 million to 330 million yuan in 2025, representing a year-on-year growth of 43.15% to 62.90%, with a consistent upward trend in profits since 2021 [8][10]. - The company has shifted its focus from traditional monosodium glutamate to high-value-added compound seasonings, with significant revenue growth in these new product lines [10][12]. - Lianhua has embraced digital marketing and e-commerce, achieving a remarkable increase in online sales revenue, which grew from 11.17 million yuan in 2022 to 281 million yuan in the first three quarters of 2025 [13][14]. Group 3: Haitian Flavoring - Haitian Flavoring reported stable revenue growth, with revenues of 25.610 billion yuan in 2022 and 26.901 billion yuan in 2024, alongside a net profit margin of around 23% [17][21]. - The company has a strong commitment to shareholder returns, planning a total cash dividend of 3.273 billion yuan for 2025, which is 61.50% of its net profit for the first three quarters [18][20]. - Haitian's competitive advantage stems from its scale and cost efficiency, with production capacity exceeding that of its competitors, allowing for better control over raw material costs and a comprehensive distribution network [21][28].

佐 力 科 創 小 額 貸 款 股 份 有 限 公 司 (Zuoli Kechuang Micro-finance Company Limited * ) （ 於中華人民共和國註冊成立的股份有限公司） （股份代號：6866） 於二零二六年三月四日舉行的臨時股東大會適用的代表委任表格 | 與本代表委任表格有關的股份 | | --- | | （ 附 註 1 ） 數目 | | 1. | 考慮及批准建議退回小額貸款牌照及其後續更改公司名稱及經營範圍；及 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2. | 特別決議案 考慮及批准建議修訂公司章程。 | 贊成 | （ 附 | 註 | 5 ） | 反對 | （ 附 | 註 5 ） | 以上決議案的進一步詳情載於本公司日期為二零二六年二月六日之通告。 本人╱吾等 （ 附 註 2 ） 地址為 ， 為佐力科創小額貸款股份有限公司（「本公司」）股本中 股每股面值人民幣1.00元的 H股╱內資股 （ 附 註 3 ） 的註冊持有人，現委任大會主席或 （ 附 註 4 ） 地址為 ， ...

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通告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並表明不會就因本通告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔 任何責任。 佐 力 科 創 小 額 貸 款 股 份 有 限 公 司 (Zuoli Kechuang Micro-finance Company Limited * ) （ 於中華人民共和國註冊成立之股份有限公司） （股份代號：6866） 臨時股東大會通告 茲通告佐力科創小額貸款股份有限公司（「本公司」）謹訂於二零二六年三月四日上午十時假 座 中 國 浙 江 省 湖 州 市 德 清 縣 武 康 街 道 德 清 大 道 399 號 佐 力 大 廈 三 樓 會 議 廳 舉 行 臨 時 股 東 大 會，藉以考慮及酌情通過本公司下列決議案（ 不論有否修訂 ）。除另有指明者外，本通告所 用詞彙與本公司日期為二零二六年二月六日的通函（「通函」，本通告構成其中一部分 ）所界 定者具有相同涵義。 特別決議案 1. 考慮及批准以下各項為本公司特別決議案： 「動議待浙江金融管理局批准建議退回牌照後： * 僅供識別 – 1 – (a) 本公司的 ...

此 乃 要 件 請 即 處 理 閣 下 如 對 本 通函 任 何 方 面 或 應 採 取 的行 動 有 任 何 疑 問 ， 應 諮 詢 閣 下 的 持牌 證 券 交 易 商 、 銀行經理、律師、專業會計師或其他專業顧問。 閣 下 如 已 將名 下 的 佐 力 科 創 小 額貸 款 股 份 有 限 公 司 股份 全 部 出 售 或 轉 讓 ，應 立 即 將 本 通 函 連 同 隨 附 代表 委 任 表 格 送 交 買 主或 承 讓 人 ， 或 經 手 買賣 或 轉 讓 的 銀 行 、 持牌 證 券 交 易 商 或 其他代理人，以便轉交買主或承讓人。 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 通 函 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 就因 本 通 函 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。 佐 力 科 創 小 額 貸 款 股 份 有 限 公 司 (Zuoli Kechuang Micro-finance Compa ...

截至月份: 2026年1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: 佐力科創小額貸款股份有限公司 (於中華人民共和國註冊成立之股份有限公司） FF301 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 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 | 其他類別 (請註明) | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 880,000,000 | RMB | | 1 | RMB | | 880,000,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 880,000,000 | RMB | | 1 | ...

Core Viewpoint - Zuoli Micro-finance (06866) plans to change its name to "Zuoli Kechuang Company Limited" to align with its business development and following the suggestion to return its license [1] Group 1 - The company will change its Chinese name from "Zuoli Kechuang Micro-finance Company Limited" to "Zuoli Kechuang Company Limited" [1] - The English name will also be updated accordingly [1] - The Zhejiang Provincial Market Supervision Administration has issued a notice regarding the name change, which is set to take effect on January 26, 2026 [1] Group 2 - The name change is subject to certain conditions that must be met before it can be finalized [1] - As of the date of the announcement, these conditions have not yet been fulfilled [1]

Core Viewpoint - Zuoli Micro-finance (06866.HK) plans to change its Chinese name to "Zuoli Kechuang Company Limited" and its English name to "Zuoli Kechuang Company Limited" following a business development review and a proposal to return its license [1] Group 1 - The company has received a name change retention notice from the Zhejiang Provincial Market Supervision Administration on January 26, 2026 [1]