Group 1 - Matrix Co., Ltd. announced that its wholly-owned subsidiary, Anke Technology, introduced a strategic investor, Shenzhen Jifu New Industry Venture Capital Fund, which invested 5 million yuan for a 10% stake [1] - Heng Rui Medicine received approval from the National Medical Products Administration for its Eicosapentaenoic Acid Ethyl Ester Soft Capsule, aimed at reducing triglyceride levels in patients with severe hypertriglyceridemia [1] - Mo Gao Co., Ltd. announced the resignation of its Vice President Jin Baoshan due to job transfer [1] Group 2 - Yao Wang Technology decided to terminate two fundraising projects and will permanently supplement the remaining funds into working capital [2] - Minhe Livestock reported sales of 25.53 million chicklings in August, generating revenue of 86.41 million yuan, with year-on-year growth of 27.60% [2] - Sichuan Jinding announced the resignation of its Director and General Manager Xiong Jifeng due to personal reasons [3] Group 3 - Taiji Group received approval for clinical trials of its Semaglutide Injection, aimed at blood sugar control in type 2 diabetes patients [5] - Jieput announced plans to increase capital in its affiliate, Suidong Intelligent Technology, with an investment of 5 million yuan for a 5% stake [7] - GeLing Deep Vision's controlling shareholders committed not to reduce their shareholdings for six months starting from September 17, 2025 [8] Group 4 - Huafeng Superfiber reported the resignation of its Vice President Liu Cong due to personal reasons [9] - Xiaoming Co., Ltd. reported sales revenue of 79.90 million yuan from chicken products in August, with year-on-year growth of 11.73% [11] - Lion Head Co., Ltd. announced that its application for issuing shares and cash to acquire assets has been accepted by the Shanghai Stock Exchange [12] Group 5 - Jinlong Automobile reported a bus sales volume of 4,074 units in August, a year-on-year increase of 23.6% [43] - Metro Design signed a contract for the Ho Chi Minh City urban rail transit project in Vietnam, with a total amount of 1.754 trillion VND [45] - North New Road and Bridge announced winning a mining construction project worth 504 million yuan [28]

Core Viewpoint - The company, HLA, plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy, accelerate overseas business development, and strengthen its capital capabilities for high-quality growth [2][5]. Group 1: Company Strategy and Operations - The board of directors has authorized the management to initiate preparations for the H-share listing, with discussions planned with relevant intermediaries regarding the specifics of the listing [5]. - HLA is a large retail group in China, involved in self-owned brand operations, international brand licensing, group customization, and the JD Outlet business [5]. - The company owns several self-brands, including its main brand "HLA," women's brand "OVV," trendy brand "HLA JEANS," and children's brand "YeeHoO" [5]. - HLA has become the authorized dealer for the Austrian sports brand HEAD in China and has exclusive rights to retail Adidas FCC series products in mainland China [5]. - The company has launched a corporate uniform customization business called "HLA Group Customization" and plans to expand its market share through a partnership with JD in 2024 [5]. Group 2: Financial Performance - In the first half of 2025, the company achieved a revenue of 11.566 billion yuan, a year-on-year increase of 1.73%, and a net profit attributable to shareholders of 1.580 billion yuan, a year-on-year decrease of 3.42% [5]. - The main business revenue from the HLA series was 8.395 billion yuan, while the group customization business generated 1.343 billion yuan, and other brands contributed 1.5 billion yuan [5]. Group 3: Industry Outlook - The company anticipates that the apparel sector, particularly discretionary consumption, is entering a gradual recovery phase, characterized by "demand stratification, supply refinement, channel integration, and industrial upgrading" [6]. - In 2025, the company aims to focus on product upgrades driven by technological iteration, brand strength through cultural resonance, and channel innovation for sustainable high-quality development [6].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 9.00 CNY based on an 18x PE valuation for 2025 [2][10][4]. Core Insights - The company plans to initiate an overseas listing, which is expected to enhance its global expansion and brand influence, particularly in overseas markets [9]. - The new business venture, JD Outlet, is in a rapid expansion phase, with significant growth potential anticipated in the medium term [9]. - The domestic business of the main brand is expected to gradually improve in the second half of the year, providing a resilient foundation for the company [9]. Financial Forecasts - The company’s earnings per share (EPS) projections for 2025-2027 are adjusted to 0.50, 0.55, and 0.62 CNY respectively [2]. - Revenue forecasts for 2023A to 2027E are as follows: 21,528 million CNY (2023A), 20,957 million CNY (2024A), 21,937 million CNY (2025E), 23,798 million CNY (2026E), and 25,833 million CNY (2027E) [2][15]. - The net profit attributable to the parent company is projected to be 2,952 million CNY (2023A), 2,159 million CNY (2024A), 2,384 million CNY (2025E), 2,645 million CNY (2026E), and 2,999 million CNY (2027E) [2][15]. Key Financial Ratios - The gross margin is expected to improve from 44.5% in 2023A to 46.0% in 2027E [2][15]. - The net profit margin is projected to increase from 13.7% in 2023A to 11.6% in 2027E [2][15]. - The return on equity (ROE) is forecasted to rise from 19.3% in 2023A to 15.0% in 2027E [2][15].

9月9日，海澜之家盘中上涨2.03%，截至10:14，报7.03元/股，成交1.31亿元，换手率0.39%，总市值 337.63亿元。 资金流向方面，主力资金净流入812.32万元，特大单买入487.54万元，占比3.72%，卖出848.84万元，占 比6.48%；大单买入2875.81万元，占比21.94%，卖出1702.19万元，占比12.98%。 海澜之家今年以来股价跌3.96%，近5个交易日涨2.63%，近20日涨0.43%，近60日涨1.30%。 今年以来海澜之家已经1次登上龙虎榜，最近一次登上龙虎榜为1月2日。 资料显示，海澜之家集团股份有限公司位于江苏省江阴市华士镇，成立日期1997年1月8日，上市日期 2000年12月28日，公司主营业务涉及高档精纺呢绒、高档西服、衬衫,职业服的生产和销售,染整加工业 务,品牌服装的经营(包括品牌管理、供应链管理和营销网络管理等业务)。主营业务收入构成为：裤子 17.97%，其他16.33%，T恤衫13.92%，羽绒服12.21%，茄克衫9.30%，衬衫8.17%，西服8.01%，鞋子 6.33%，针织衫3.96%，其他业务3.79%。 海澜之家所属申万行业为 ...

Star Brands - Haidilao opened its first community store in Beijing's Changping District [2] - Malbon Golf from Los Angeles announced a strategic joint venture with TKG Lifestyle to enter the Chinese market, planning to launch a China-exclusive series [2] - Up Beauty plans to launch a new makeup brand called "Dan Cai" in collaboration with a renowned makeup artist, following a strong performance with total revenue reaching 4.108 billion yuan in the first half of 2025 [2] Consumer Platforms - SHEIN responded to allegations of tax evasion in the UK, stating that it complies with local laws and will pursue legal action against misinformation [2] - Uniqlo partnered with JD.com to allow customers to purchase its full range of clothing through JD's app [3] - Meituan distributed its first batch of autumn support funds to small and medium-sized night snack vendors, with amounts ranging from several thousand to over ten thousand yuan [4] - Taobao launched the first native product "Dianxiaomi 5.0" in the smart customer service industry, which improved store conversion rates by over 35% during testing [5] - Amap and Watsons formed a strategic partnership to enhance the digital upgrade of Watsons' offline stores in Hong Kong [6] - TikTok Shop introduced new tools to enhance creator efficiency in e-commerce, aiming to improve conversion rates during the holiday shopping season [7] - Best Buy partnered with Uber Eats to offer same-day delivery services for various electronic products [8] - JD Supermarket reported a GMV growth of over 15% year-on-year, with a user base reaching 300 million [9] Investment and Financial Reports - HLA authorized its management to initiate preparations for issuing shares overseas and listing on the Hong Kong Stock Exchange [10] Consumer Dynamics - A consumer expressed frustration over Rolex's allocation policy, stating that despite spending over 800,000 yuan, he could not purchase a desired watch due to the "配货" (allocation) requirement [11] - A blogger exposed counterfeit "Five-Star Moutai" liquor, prompting a response from Moutai confirming the product's inauthenticity [12][13]

•周一（2025年9月8日），港股三大指数震荡走高，午后涨幅进一步扩大，其中恒科指涨超1%。截止收 盘，恒生指数涨0.85%或215.93点，报25633.91点，全日成交额为2860.43亿港元；恒生国企指数涨 0.71%，报9121.66点；恒生科技指数涨1.17%，报5753.75点。 •周一（当地时间2025年9月8日），美股三大指数涨跌不一，截至收盘，标准普尔500指数涨1.59%，报 5954.5点；纳斯达克综合指数涨1.63%，报18847.28点；道琼斯工业平均指数涨1.39%，报43840.91点。 【今日新股】 来源：智通财经 9月9日投资早报|中芯国际拟发行股份购买中芯北方49%股权股票复牌，海澜之家拟在港交所上市，东 风汽车集团8月汽车销量16万辆同比增长29% 【隔夜行情】 •周一（2025年9月8日），A股市场三大指数涨跌不一，截至收盘，沪指报3826.84点，涨0.38%；深证成 指报12666.84点，涨0.61%；创业板指报2933.25点，跌0.84%。沪深两市全天成交额2.42万亿元，较上个 交易日放量1100亿元。 【重要新闻】 【我国拟修改对外贸易法 将部分改革举措上 ...

北京商报讯9月8日晚间，海澜之家（600398）披露公告称，公司于当日召开第九届董事会第十五次会 议，审议通过了《关于授权公司管理层启动公司境外发行股份（H股）并在香港联合交易所有限公司上 市相关筹备工作的议案》。 海澜之家表示，为深化公司全球化战略布局，加快海外业务发展，提升公司国际化品牌形象，同时打造 多元化资本运作平台，进一步增强公司资本实力，助力公司高质量发展，公司拟在境外发行股份（H 股）并在香港联交所上市，公司董事会授权公司管理层启动本次H股上市的前期筹备工作。公司计划与 相关中介机构就本次H股上市的具体推进工作进行商讨，关于本次H股上市的细节尚未确定。 交易行情显示，9月8日，海澜之家股价收跌0.14%，收于6.89元/股，总市值330.9亿元。 （文章来源：北京商报） ...

Core Viewpoint - The company, HLA, is initiating the process for overseas issuance of shares (H-shares) and plans to list on the Hong Kong Stock Exchange to enhance its global strategy and capital strength [1][3] Group 1: Company Strategy and Operations - HLA aims to deepen its global strategy, accelerate overseas business development, and enhance its international brand image through the H-share issuance [1] - The company operates multiple self-owned brands, including HLA, OVV, HLA JEANS, and YeeHoO, and has partnerships with international brands like HEAD and Adidas [1] - In 2024, HLA will collaborate with JD.com to launch "JD Outlet," focusing on offering high-quality branded products at lower prices [2] Group 2: Financial Performance - In the first half of 2025, HLA reported a revenue of 11.566 billion yuan and a net profit of 1.58 billion yuan, with the main brand contributing 8.395 billion yuan [2] - The company is focusing on its core apparel business and innovating in brand management and retail to adapt to the challenging domestic and international market [2] Group 3: Market Outlook - The company anticipates a recovery in the apparel industry driven by improved consumer confidence and the rise of local fashion trends appealing to younger consumers [3] - HLA will comply with relevant regulations and maintain transparency regarding the H-share listing process, which involves multiple levels of approval [3]

Core Viewpoint - The company aims to enhance its global strategy and accelerate overseas business development by issuing H-shares and listing on the Hong Kong Stock Exchange [1] Group 1 - The company intends to deepen its global strategic layout and improve its international brand image [1] - The issuance of H-shares is part of a plan to create a diversified capital operation platform and strengthen the company's capital strength [1] - The board of directors has authorized the management to initiate preliminary preparations for the H-share listing [1] Group 2 - The company plans to discuss specific progress on the H-share listing with relevant intermediaries [1] - Details regarding the H-share listing have not yet been determined [1]

Core Viewpoint - The company, Hailan Home (600398), announced its plan to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange, with the board authorizing management to initiate preparatory work for this H-share listing [1] Group 1 - The company intends to issue H-shares and list on the Hong Kong Stock Exchange [1] - The board of directors has authorized the management to start the preparatory work for the H-share listing [1]