Core Insights - The company has demonstrated strategic resilience in its 2025 performance, achieving revenue of 52.3 billion RMB and a net profit of 530 million RMB, reflecting a year-on-year growth of 14.6% and 11.3% respectively [1][2] - The company has outlined four strategic initiatives focused on "fast-moving consumer goods discount chains, AI full-scenario empowerment, intelligent technology services, and innovative supply chains," marking a significant transition from a traditional industrial internet platform to a technology-driven ecosystem [1][3] Financial Performance - The financial results for 2025 indicate a clear trend of "high-quality development," with significant year-on-year increases in gross margin, net profit margin, and net profit attributable to shareholders, all reaching historical highs [2] - The company has maintained positive operating cash flow for seven consecutive years, with a net inflow of 420 million RMB in 2025, indicating enhanced self-sustainability and a solid financial foundation for future strategic investments [2][12] Strategic Initiatives - The company is constructing a comprehensive platform that encompasses hard technology, large-scale consumption, and urban-rural circulation, moving beyond just "industrial internet" [3] - The first initiative focuses on retail chain expansion in lower-tier markets, leveraging "hard discount" strategies to capture significant market potential [4][5] - The second initiative involves AI application, with a focus on retail full-chain upgrades, aiming to embed AI capabilities deeply into store operations [6][7] - The third initiative is the establishment of an intelligent technology service platform to bridge the gap between hard technology companies and market access [9] - The fourth initiative emphasizes innovative supply chain transformation through reverse customization and digital collaboration, enhancing efficiency and reducing logistics costs [10] Capital Strategy - The company is adopting a dual-driven growth model of "industry + capital," focusing on synergistic capital operations to enhance the performance of acquired companies and drive overall profitability [11][12] - The company plans to share its growth with shareholders through stable cash dividends and share buybacks, reflecting a commitment to return value to investors [12][15] Future Outlook - The company is positioned to release significant commercial value in 2026 as it fully implements its four strategic initiatives, transitioning from a traditional distributor to a technology-enabled ecosystem platform [15] - The company's focus on "youthfulness + technology" aligns with national strategies to boost domestic demand and develop the digital economy, suggesting a promising outlook for market valuation [15]

Group 1 - The core point of the article is that Huitongda Network (09878) announced a board meeting scheduled for March 30, 2026, to review and approve the proposal to elect Mr. Wang Hao as a candidate for the non-executive director of the fourth board of directors [1] - Mr. Wang's term will commence upon approval by the company's shareholders and will last until the end of the fourth board's term, with the possibility of re-election after the term ends [1]

Core Insights - Huitongda Network (9878.HK) reported record-high core financial metrics for the fiscal year 2025, achieving a revenue of 52.3 billion yuan, a net profit of 530 million yuan (up 14.6% year-on-year), and a net profit attributable to shareholders of 300 million yuan (up 11.3% year-on-year) [1] - The gross profit margin increased to 4.5%, reflecting an 18% year-on-year growth, while operating cash flow showed a net inflow of 420 million yuan, marking seven consecutive years of positive cash flow [1] - The company outlined a clear future development path focusing on activating lower-tier markets, expanding domestic demand, and optimizing traditional industries, supported by its "14th Five-Year Plan" [1] Financial Performance - Revenue reached 52.3 billion yuan, with a net profit of 530 million yuan, representing a 14.6% increase year-on-year [1] - Net profit attributable to shareholders was 300 million yuan, up 11.3% year-on-year [1] - Gross profit margin improved to 4.5%, with an 18% year-on-year increase [1] - Operating cash flow showed a net inflow of 420 million yuan, continuing a trend of positive cash flow for seven years [1] Strategic Initiatives - Huitongda plans to leverage "innovative supply chains" and "AI+" to empower urban and rural retail entities, supply chain partners, upstream factories, and cutting-edge technology companies [1] - A strategic partnership with leading snack brand "Snack Selection" will be established to operate over 2,800 stores nationwide [1] - The company aims to expand rapidly through self-operated, joint ventures, and acquisitions, focusing on hard discount chains, snack retail, community supermarkets, and convenience stores [1] AI and Technology Focus - Huitongda is enhancing its "AI + digital intelligence + hardware-software integration" empowerment system to accelerate the development and commercialization of vertical large models, intelligent agents, and robotics [2] - The company will upgrade its "Intelligent Technology Product Service Platform" to support the marketization and large-scale transformation of cutting-edge technologies [2] - Huitongda aims to optimize supply-demand efficiency through its innovative supply chain platform, focusing on fast-moving consumer goods [2] Future Outlook - For 2026, Huitongda has set the annual guideline of "ensuring growth and improving quality, transforming and upgrading" [2] - The company plans to increase investments and acquisitions in key industries and quality projects, while also considering cash dividends for shareholder returns [2]

Core Viewpoint - The company, HuTongDa Network (09878), announced the proposal to elect Mr. Wang Hao as a candidate for the non-executive director of the fourth board of directors during the board meeting scheduled for March 30, 2026 [1] Summary by Relevant Sections - **Board Election** - The board will review and approve the proposal to elect Mr. Wang Hao as a non-executive director candidate [1] - **Term Details** - Mr. Wang's term will commence upon approval by the shareholders' meeting and will last until the end of the fourth board's term, with the possibility of re-election after the term ends [1]

Core Viewpoint - The company, 汇通达网络 (9878.HK), reported a strong financial performance for 2025, indicating a shift into a new cycle of high-quality growth with significant improvements in key profitability metrics [1] Financial Performance - The company achieved a revenue of RMB 52.3 billion for 2025 [1] - Net profit reached RMB 529 million, representing a year-on-year growth of 14.6% [1] - Profit attributable to equity holders of the company was RMB 300 million, up 11.3% year-on-year [1] - Gross margin increased to 4.5%, a rise of 0.7 percentage points, marking an 18% growth [1] - Net cash inflow was RMB 419 million, indicating a stable financial condition [1] Business Strategy - The company is actively optimizing its business structure, resulting in core profitability indicators achieving counter-cyclical growth [1] - The company plans to continue upgrading its AI+ strategy in 2026, focusing on AI application scenarios within the retail industry [1] - The development of a "small store big model" AI vertical application model and an AI marketing intelligence matrix is underway [1] - The company aims to enhance its AI Agent development, application, and revenue generation, transitioning from SaaS empowerment to AI empowerment [1] - There is a commitment to continuously accumulate data assets and improve the level of intelligent empowerment [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。 汪浩先生，36歲，自2026年2月起至今擔任五星控股集團有限公司（「五星控股」） 聯席總裁；及自2024年3月起至今擔任好享家舒適智能家居股份有限公司（「好享 家」）董事長。 汪先生在企業經營管理、戰略規劃、資本規劃等方面擁有豐富的經驗。汪先生自 2012年5月至2014年1月任職於中信資本控股有限公司，擔任投資經理。汪先生於 2014年2月加入五星控股，自2014年2月至2016年9月擔任五星控股董事長助理； 自2016年10月至2018年10月擔任好享家董事副總經理；自2018年10月至2024年3 月擔任好享家董事總經理；自2021年1月至2026年2月擔任五星控股副總裁。 1 Huitongda Network Co., Ltd. 匯通達網絡股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：9878） 建議選舉非執行董事 匯通達網絡股份有限公司（「本公司」，連同其附屬公司統稱 ...

Financial Performance - The company achieved a revenue of RMB 52.3 billion for the year ending December 31, 2025, a decrease of 12.9% compared to RMB 60.1 billion in 2024[5] - Net profit reached RMB 529.4 million, representing a year-on-year growth of 14.6% from RMB 461.8 million in 2024[5] - The gross margin improved to 4.5%, an increase of 0.7 percentage points, marking an 18% growth year-on-year[4] - The trading business segment's revenue decreased from RMB 59,269.2 million in 2024 to RMB 51,529.4 million in 2025, a decline of 13.1%[21] - Gross profit for the trading business increased to RMB 1,720 million in 2025, a year-on-year growth of nearly 5%, with a gross margin of 3.3%, up over 18%[22] - Subscription service revenue decreased by 17.6% to RMB 421 million, while AI products and services generated RMB 106.2 million, accounting for nearly 20% of service revenue[23][25] - The total revenue for 2025 was RMB 52,297,458,000, a decrease of 12.9% compared to RMB 60,059,328,000 in 2024[61] - The revenue from product sales was RMB 51,529,380,000, down from RMB 59,269,204,000 in the previous year, indicating a decline of 13.9%[61] Strategic Initiatives - The company launched three major smart supply chain projects, resulting in a 50%+ revenue increase from new product categories[7] - The company entered the fast-moving consumer goods discount chain sector with the launch of the "Zhe Zhe Feng" brand, opening ten stores in Nanjing in December 2025[10] - Strategic acquisitions included the purchase of high-end manufacturing company Jintongling and e-commerce AI firm Xizang Bianjie Information Technology Co., enhancing the company's capabilities in AI and smart manufacturing[11] - In 2026, the company aims to transform its core business from slow-moving consumer goods to fast-moving consumer goods, focusing on deepening its presence in lower-tier markets through various strategies such as self-operated, joint ventures, and acquisitions[13] - The company plans to enhance its AI+ strategy by developing a vertical AI model tailored for retail scenarios, aiming to improve operational efficiency and data-driven decision-making[14] - The company is focusing on building an innovative supply chain centered on fast-moving consumer goods, utilizing AI and big data for precise matching between supply and demand[17] Financial Position - The company reported a net cash inflow of RMB 419 million, indicating a strong financial position[4] - Cash and cash equivalents decreased from RMB 2,781.3 million as of December 31, 2024, to RMB 2,543.2 million as of December 31, 2025[40] - The company reported a net decrease in cash and cash equivalents of RMB 237,773,000 for 2025, compared to a decrease of RMB 967,809,000 in 2024[52] - The total assets less current liabilities amounted to RMB 10,424,862,000 in 2025, an increase from RMB 9,860,132,000 in 2024, reflecting a growth of 5.7%[51] - The net assets of the company increased to RMB 10,021,785,000 in 2025 from RMB 9,610,500,000 in 2024, marking a growth of 4.3%[51] - The financing activities resulted in a net cash outflow of RMB 1,222,031,000 in 2025, compared to RMB 363,004,000 in 2024, indicating increased financing activities[52] Operational Efficiency - The total number of registered member stores increased by 2.4% to 254,590, while active member stores rose by 17.0% to 111,295[6] - The company’s proprietary brand revenue exceeded RMB 140 million, with a year-on-year growth of 37% and a gross margin exceeding 40%[7] - Research and development costs decreased by 10.8% to RMB 59.8 million in 2025, attributed to improved R&D efficiency and integration of AI technology[29][30] - Sales and marketing expenses decreased by 10.5% to RMB 962.2 million, maintaining a stable ratio of 1.8% of revenue[26] - Administrative and other operating expenses fell by 10.0% to RMB 328.1 million, also maintaining a ratio of 0.6% of revenue[27] - Inventory decreased from RMB 2,032.7 million as of December 31, 2024, to RMB 1,886.2 million as of December 31, 2025, with inventory turnover days improving from 15 days to 14 days[41][42] Shareholder Returns - The company is committed to shareholder returns, planning to improve profit distribution mechanisms and actively share development results through cash dividends[18] - The board of directors decided not to declare a final cash dividend for the year ending December 31, 2025, to prioritize investments in high-return business transformations[112] - The company plans to utilize share buybacks and other tools to reward shareholders based on market conditions[112] Corporate Governance - The company is committed to maintaining good corporate governance to protect shareholder interests and enhance corporate value[114] - The audit committee reviewed the financial statements for the year ending December 31, 2025, ensuring compliance with accounting standards and adequate disclosures[117] - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website, with all required information for the year ending December 31, 2025[121] - The company is in the process of electing a new non-executive director, which will be presented for shareholder approval at the upcoming annual general meeting[120]

Core Viewpoint - HuTongDa Network (09878) has seen a significant stock price increase following the announcement of a strategic partnership with Hunan snack chain brand "Snack Preferred" to establish a joint venture for exclusive operations in the snack retail sector [1] Group 1: Company Developments - HuTongDa Network's stock rose nearly 12% during trading, closing up 8.45% at HKD 7.7, with a trading volume of HKD 3.5469 million [1] - The strategic cooperation agreement aims to integrate resources and accelerate the development of the snack and hard discount retail markets, positioning "Snack Preferred" as a leading retail chain brand [1] - The partnership will leverage HuTongDa Network's capabilities in four key areas: platformization, ecological integration, capitalization, and AI empowerment for "Snack Preferred" [1] Group 2: Recent Acquisitions and Brand Launches - Earlier in February, HuTongDa Network completed the acquisition of a 25% stake in JinTongLing (300091.SZ), advancing its "integrated production and sales" strategy [1] - In March, HuTongDa Network showcased its integrated production and sales brand, the century-old French appliance brand THOMSON air conditioning, at AWE 2026, gaining significant attention due to its strong brand heritage and innovative capabilities [1]

Core Viewpoint - On March 25, Huaitongda Network (9878.HK) saw its stock price rise nearly 12%, reaching a peak of 7.95 HKD, marking a two-week high [1] Group 1: Company Performance - Huaitongda Network is recognized as a leading industrial internet platform in China, aligning closely with national policies outlined in the government work report on March 5 regarding economic and social development goals for 2026 [1] - The company plays a significant role in connecting resources, aggregating value, and enhancing the role of private enterprises in the market [1] Group 2: Technological Integration - Huaitongda Network is integrating new technologies and models, such as artificial intelligence and innovative supply chains, into various aspects of urban and rural circulation [1] - The company is contributing to the accelerated upgrade of county-level commercial systems and supporting innovation in industrial and supply chains [1]

Group 1 - The stock of HuTongDa Network (9878.HK) experienced a significant intraday increase of nearly 12%, reaching a peak of 7.95 HKD, marking a new high in nearly two weeks [1]