Core Viewpoint - The article discusses the emergence of a new generation of retail chains in China, particularly focusing on the "ten thousand stores" model, which emphasizes community-based, specialized, and discount-oriented retail strategies. This model has led to significant growth in various sectors, particularly in food and snacks, showcasing a shift in consumer behavior and retail dynamics in the country [7][10][17]. Group 1: Investment Insights - Qicheng Capital, founded by Chang Bin, focuses on consumer investments and has successfully backed brands like JiuYueDaoTian, GuoQuanShiHui, and others, aiming to support the next generation of consumer champions [5][6]. - The company has invested considerable time studying offline business models in China, identifying seven established "ten thousand stores" enterprises, with notable examples including MiXueBingCheng and GuoQuan, which have rapidly expanded their store counts [7][19]. - The article highlights the success of GuoQuan, which transitioned from a restaurant model to a retail chain, achieving over 10,000 stores in a short period, primarily in lower-tier cities [11][12]. Group 2: Retail Trends - The snack retail sector has seen a transformation with the rise of "Snacks Are Busy," which has surpassed 10,000 stores, offering a discount model that appeals to consumers by providing lower prices and a wide variety of products [13][15]. - The shift in consumer spending from traditional supermarkets and online platforms to discount snack stores indicates a significant change in the retail landscape, with consumers favoring convenience and affordability [15][16]. - The article emphasizes the iterative process of enhancing user value and commercial efficiency across various retail channels, leading to structural changes in the industry [16]. Group 3: Business Model Innovations - The success of these retail chains is attributed to their ability to create a solid business foundation, focusing on product quality and operational efficiency, which allows for rapid expansion without excessive cash burn [21][24]. - The article discusses the importance of establishing a strong initial model that can attract quality franchisees, ensuring sustainable growth and profitability as the business scales [22][23]. - It also notes that the retail sector's evolution from online to offline models has led to a more robust and resilient business environment, where companies can achieve profitability through careful planning and execution [24].

Core Viewpoint - The discussion emphasizes that capital assistance is not a necessary condition for achieving a "ten thousand store" chain model; rather, the core lies in the design of the business model itself [6][17]. Group 1: Capital and Business Model - Capital is not essential for achieving a "ten thousand store" chain; the key is the design of the business model [6][7]. - Successful examples like "零食很忙" demonstrate that a well-designed business model can lead to significant growth without external financing [7][8]. - Achieving a "ten thousand store" scale typically requires a revenue target of 10 billion [10][11]. Group 2: Ecosystem and Opportunities - Founders of "ten thousand store" chains create an industry ecosystem that includes numerous entrepreneurs and supply chain leaders, sharing benefits within the ecosystem [12][13]. - The rise of specialized small and medium enterprises engaging in "ten thousand store" chains presents new opportunities for ordinary entrepreneurs [14][16]. Group 3: Franchise System and Brand Evaluation - To succeed in a "ten thousand store" model, entrepreneurs must master the ability to establish a franchise system [17]. - Entrepreneurs can also join existing franchise ecosystems as specialized operators, which may be a viable entrepreneurial approach [19]. - Evaluating a brand's potential for a "ten thousand store" model involves assessing the quality of its product system and understanding its profit sources [24][26]. Group 4: Successful Franchise Characteristics - A successful franchise system must offer real value to consumers through quality products and services [25]. - Brands like "锅圈" leverage strong supply chains to provide high-quality products directly to consumers, enhancing profitability [28][31]. - The distinction between short-term profit-seeking and long-term value creation is crucial in evaluating business models [31]. Group 5: Training and Development Programs - The article promotes a training program aimed at helping consumer brands overcome growth challenges and achieve significant revenue milestones [32][36]. - The program includes insights from successful brands and focuses on practical strategies for growth and competition [36][50]. Group 6: Target Audience for Training - The program targets emerging consumer brands with revenues between 1-5 billion, regional chain brands with over 300 stores, and traditional brands undergoing transformation [51].

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。 Shiyue Daotian Group Co., Ltd. 9676 - 1 - 於臨時股東大會上提呈之決議案以投票方式進行表決。本公司的香港H股股份過戶登記處 卓佳證券登記有限公司擔任點票的監票員。本公司的兩名股東代表、兩名監事代表及本 公司的中國法律顧問北京市通商律師事務所亦負責臨時股東大會的監票及計票。 臨時股東大會的表決情況 董事會欣然宣佈，獲提呈之決議案已於臨時股東大會上按投票表決方式獲股東正式通 過。決議案的投票表決結果如下： 於2025年8月7日舉行之 臨時股東大會之投票表決結果 茲提述十月稻田集團股份有限公司（「本公司」）日期為2025年7月16日之(i)臨時股東大會 （「臨時股東大會」）通告；及(ii)臨時股東大會通函（「該通函」）。除文義另有所指外，本公 告所用之詞彙與該通函所定義者具有相同涵義。 本公司已於2025年8月7日（星期四）上午十時正假座中國北京市朝陽區伊莎文心廣場A座 ...

I. 法定/註冊股本變動 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: 十月稻田集團股份有限公司 呈交日期: 2025年8月4日 | 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) | 09676 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 421,819,430 | RMB | | 0.1 RMB | | 42,181,943 | | 增加 / 減少 (-) | | | 646,333,720 | | | RMB | | 64,633,372 | | 本月底結存 | | | 1,068,153,150 | RMB | | 0.1 RMB | | 106,815,315 | | 2. ...

在新时代背景下，各行各业迎来新一轮"深度"加"广度"的发展机遇，发展模式正在向创新驱动型转变。在关乎国计民生的食品行业，家庭食品创新品牌十月 稻田表现不俗。7月17日，十月稻田发布2025 年半年度盈利预告，预期集团上半年经调整净利润不低于约人民币2.83亿元，较上年同期的经调整净利润约人 民币1.49亿元增长不少于90%。业绩大幅上涨背后，十月稻田的增长逻辑值得深入探究。 品牌战略全面升级，创新驱动持续增长 2025年，十月稻田品牌战略全面升维，实现了从"厨房主食企业"到"家庭食品创新企业"的定位升级。十月稻田盈利预告表示，能够保持业绩持续高速增长， 得益于其在家庭食品赛道上的持续创新及深度运营，敏锐洞察消费趋势，优化产品结构，同时叠加与优质销售渠道的深度合作，使得其盈利质量持续提升。 十月稻田业绩稳增的核心驱动力，从其去年的业绩表现中就已凸显。数据显示，2024年大米产品实现营收40.14亿元，同比增长4.8%，占总收入的69.9%。由 此可见，作为营收主力的大米业务，根基依旧稳固。 与此同时，玉米品类表现亮眼，营收达到8.15亿元，同比大增523.2%，已成为公司第二增长曲线。这一成绩，得益于十月稻田对 ...

Market Overview - The market is experiencing an upward trend without negative news, with Hong Kong stocks jumping 1.33% today [1] - Insurance companies are adjusting product pricing in response to market interest rates, leading to a decrease in liability costs and an increase in equity allocation [1] - Regulatory changes allow insurance companies more flexibility in asset allocation, boosting their profitability [1] Securities Sector - The approval of the U.S. Stablecoin Innovation Act is expected to catalyze the securities sector, with Tether's USDT market cap surpassing $160 billion [2] - The anticipated signing of an executive order by President Trump could allow significant investments in alternative assets, including stablecoins [3] AI and Technology - The upcoming World Artificial Intelligence Conference (WAIC) will showcase advancements in AI infrastructure, including Huawei's new AI computing technology [7] - The launch of the H20 chip for sale in China is expected to boost demand for AI applications, with companies like Tencent and ByteDance placing orders [4] Performance of Specific Companies - China Life and China Pacific Insurance saw stock increases of over 5% due to favorable market conditions [1] - Companies like JD Health and Ant Group are planning to apply for stablecoin licenses in Hong Kong, indicating a shift towards digital currency [2] - Goldwind Technology reported a 35.72% increase in revenue for Q1 2025, driven by strong order growth and international expansion [9] Industry Trends - The rare earth sector is experiencing significant profit growth, with companies like Huahong Technology and Northern Rare Earth projecting substantial increases in net profit [4] - The wind energy market is expected to see high growth, with Goldwind's international business expanding across six continents [10]

Group 1: Hong Kong Stocks - Oriental Selection (01797) surged over 14% with the upcoming launch of a second sanitary napkin product, indicating growth potential in self-operated products [1] - AI application stocks rose in early trading, with Kingsoft Cloud (03896) and Innovation Works (02121) both up over 11%, and other companies like Kintor Pharmaceutical (01860) and Kingdee International (00268) also showing gains [1] - Yao Cai Securities (01428) increased over 8% as Ant Group actively develops stablecoins in Hong Kong, enhancing the prospects for Yao Cai's virtual asset business [1] - Meitu (01357) saw a rise of over 7% during trading, with institutions optimistic about the company's performance potential due to AI Agent product validation [1] - Jinli Permanent Magnet (06680) initially rose over 8%, with a projected net profit increase of up to 180% year-on-year for the first half of the year, as institutions reassess the value of rare earth strategic metals [1] - NIO-SW (09866) increased over 4% as the pre-sale price of the L90 model exceeded expectations, with Morgan Stanley forecasting monthly sales to surpass 5,000 units [1] - Guoquan (02517) rose over 11% following an earnings forecast, expecting a net profit of approximately 180 million to 210 million yuan for the first half of the year, a year-on-year increase of about 111%-146% [1][2] Group 2: US Stocks - PepsiCo (PEP.US) rose 7.45% after Q2 earnings exceeded expectations, with EPS at $2.12, surpassing the forecast of $2.03, and revenue growing 1.0% year-on-year to $22.73 billion [3] - Lucid (LCID.US) soared 36.24% as it announced a partnership with Uber to launch a self-driving taxi fleet [3] - Abbott (ABT.US) fell over 8% due to Q3 guidance falling short of expectations and a downward revision of the annual profit forecast [3] - AI application software stocks saw gains, with Unity Software (U.US) rising over 12% at one point, and other companies like SoundHound AI (SOUN.US) and AppLovin (APP.US) also increasing [3] - Taiwan Semiconductor Manufacturing Company (TSM.US) rose 3.38%, achieving a record high with Q2 EPS of $2.47, exceeding the forecast of $2.39, and revenue growing 44.4% year-on-year to $30.07 billion [4] - Oracle (ORCL.US) increased 3.09%, reaching a new high as it announced a $3 billion investment in AI and cloud infrastructure in Germany and the Netherlands over the next five years [4] - BigBear.ai Holdings (BBAI.US) rose 15.45% ahead of its earnings report, with expectations of a loss of $0.07 per share but revenue projected to reach $40.99 million, a year-on-year increase of 3.04% [4] Group 3: Drone and Streaming Stocks - Drone-related stocks strengthened, with Palladyne AI (PDYN.US) rising 31.4% and Joby Aviation (JOBY.US) increasing 8.51% amid U.S. Department of Commerce investigations into drone systems and key solar materials [5] - Netflix (NFLX.US) saw a slight decline of over 2% after reporting Q2 revenue of $11.079 billion, slightly above the forecast, but underperformed in the APAC and LATAM regions [5]

Group 1 - Hong Kong agricultural stocks experienced an initial rise, with Hualian International (00969.HK) increasing by over 83% [1] - October Rice Field (09676.HK) saw a rise of more than 16.5% [1]

Group 1: Investment Opportunities - Vili Zhibo-B (HK02617) has launched its IPO with a subscription rate of approximately 178.91 times on the first day, indicating strong investor confidence in its prospects [1] - Aux Group has refiled its listing application with the Hong Kong Stock Exchange, aiming to enhance brand influence and expand into international markets [2] - Fourth Paradigm (HK06682) plans to place 25.9 million shares at a subscription price of HKD 50.50 per share, raising approximately HKD 1.306 billion for investment in emerging fields like AI and blockchain [3] - October Rice Field (HK09676) expects an adjusted net profit of at least HKD 283 million for the six months ending June 30, 2025, representing a growth of no less than 90% year-on-year due to product innovation and improved sales channels [4] Group 2: Market Performance - The Hang Seng Index closed at 24,498.95, down 0.08% on July 17 [5] - The Hang Seng Tech Index increased by 0.56% to 5,448.85 [5] - The National Enterprises Index fell by 0.09% to 8,853.10 [5]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has approved the full circulation of unlisted shares for October Rice Field Group Co., Ltd, allowing nine shareholders to convert a total of 646,333,720 unlisted shares into listed shares for trading on the Hong Kong Stock Exchange [1] Group 1 - The CSRC issued a notification regarding the full circulation of unlisted shares for October Rice Field Group [1] - A total of 646,333,720 shares will be converted from unlisted to listed status [1] - The shares will be made available for trading on the Hong Kong Stock Exchange [1]