Investment Rating - The industry investment rating is maintained as "Positive" [5] Core Insights - The cross-border e-commerce sector remains robust, with a focus on leading brands and B2B companies actively implementing AI applications [3] - Online sales during Black Friday and Cyber Monday showed steady growth, with significant increases in consumer spending [8] - The performance of AI in e-commerce is notable, with a substantial rise in traffic driven by AI tools, indicating a shift in consumer behavior [8] Summary by Sections Cross-Border E-commerce B2B - B2B companies have a clear revenue logic through AI tools, with promising business developments ahead [3] - Recommended stocks include Xiaoguo City (600415), Focus Technology (002315) [3] Cross-Border E-commerce B2C - Recommended stocks include Anker Innovation (300866), Ugreen Technology (301606), Zhiou Technology (301376), Jihong Co., Ltd. (002803), and Huakai Yibai (300592) [3] Other Relevant Stocks - Other recommended stocks include Konnate Optical (02276), Miniso (09896), and Sumida (600710) [3] Market Trends - Black Friday and Cyber Monday online sales reached record highs, with online spending of $11.8 billion and $14.25 billion respectively, marking year-on-year growth of 9.1% and 7.1% [8] - The average online price of consumer goods in the U.S. increased by 8%, impacting actual sales performance [8] Future Outlook - In 2026, a decrease in tariff costs is expected to improve profit margins for some cross-border e-commerce companies [8] - The report outlines a timeline of tariff adjustments throughout 2025, indicating a complex landscape for cross-border trade [8]

智通财经APP讯，名创优品(09896)发布公告，于2025年12月5日，该公司斥资24.84万美元回购5.13万 股。 ...

格隆汇12月7日丨名创优品(09896.HK)公告，12月5日耗资24.8万美元回购5.1万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 FF305 第 2 頁 共 7 頁 v 1.3.0 FF305 公司名稱： 名創優品集團控股有限公司 呈交日期： 2025年12月7日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09896 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 佔有關事件前的 ...

名创优品(09896)公布，2025年12月5日耗资约197.17万港元回购5.26万股股份。 ...

Group 1 - The potential for national income doubling is expected to open a "golden decade" for new consumption development, with a theoretical target of nearly doubling per capita GDP by 2035, from $13,300 in 2024 to approximately $20,000 [16][17][33] - The growth of the middle-income group is crucial for driving consumption, with a target of over 800 million middle-income individuals in the next 15 years, which will significantly influence the scale and quality of domestic consumption [42][49] - The report emphasizes the importance of promoting common prosperity to activate domestic consumption potential, highlighting that increasing the income of low-income groups can effectively convert new income into consumption [20][23][49] Group 2 - The beauty and personal care sector is expected to see growth driven by new materials in the medical beauty segment, with companies like Lepu Medical focusing on innovative materials that fill market gaps [4][5][15] - The beauty industry is entering a low-growth phase, where brand group operations and market share enhancement will be critical for sustainable growth, with companies like Mao Ge Ping and Shangmei Holdings being highlighted for their potential [4][5][15] - The pet care market is experiencing both consumption upgrades and intensified competition, with a focus on high-end, health-oriented products [4][5][15] Group 3 - The service consumption sector, particularly tourism and sports, is expected to benefit from policy encouragement, with companies like Sanxia Tourism and Lansi Co. being recommended for investment [4][5][15] - The report notes that the tourism sector is poised for growth due to increased interest in flexible vacations and the aging population, which is expected to drive demand for river cruises [4][5][15] - The sports service sector is highlighted as a core growth area, with event-driven economic activities expected to boost related industries [4][5][15] Group 4 - The IP and trendy toy market is entering a new phase with a surge in supply, and companies like Pop Mart are expected to maintain their leading positions through effective IP management [4][5][15] - The report indicates that the emergence of new designers and retail platforms is likely to sustain high demand for IP products, with a focus on companies that can effectively monetize potential IP [4][5][15] Group 5 - The gold and jewelry sector is facing short-term demand pressure due to tax reforms and seasonal fluctuations, with a focus on brands that can maintain pricing power amid these changes [5][15]

智通财经APP讯，名创优品(09896)公布，2025年12月5日耗资约197.17万港元回购5.26万股股份。 ...

FF305 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09896 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年12月4日 | | 1,237,564,177 | | 0 | | 1,237,564,177 | | 1). 其他 (請註明) | | | | % | | | | | 參見Part B | | | | | | | | | 變動日期 2025年12月5日 | | | | | | ...

智通财经APP讯，名创优品(09896)发布公告，于2025年12月4日斥资24.35万美元回购5.08万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 名創優品集團控股有限公司 呈交日期： 2025年12月5日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09896 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔 ...