Core Points - The company announced the cancellation of 415,000 stock options from its 2025 stock option and restricted stock incentive plan due to the departure of 6 incentive plan participants [2] Group 1 - The sixth board meeting and the fifth supervisory board meeting were held on November 12, 2025, where the proposal to cancel certain stock options was approved [2] - The cancellation was based on the provisions of the incentive plan and the authorization from the company's first extraordinary general meeting of shareholders in 2025 [2] - The company has submitted an application to the Shenzhen branch of China Securities Depository and Clearing Co., Ltd. for the cancellation of the stock options [2]

近日，公司已向中国证券登记结算有限责任公司深圳分公司提交了注销上述 股票期权的申请。2025 年 11 月 20 日，经中国证券登记结算有限责任公司深圳 分公司审核确认，公司已完成了上述 415,000 份股票期权的注销业务。本次股票 期权注销符合《中华人民共和国公司法》、《上市公司股权激励管理办法》等有 关法律、法规及激励计划的规定，本次股票期权注销对公司股本不造成影响。 特此公告。 广东遥望科技集团股份有限公司董事会 2025 年 11 月 20 日 部分股票期权注销完成的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和 完整，没有虚假记载、误导性陈述或重大遗漏。 广东遥望科技集团股份有限公司（以下简称"公司"）于2025年11月12日召 开了第六届董事会第九次会议和第五届监事会第三十五次会议，审议通过了《关 于注销2025年股票期权与限制性股票激励计划部分股票期权的议案》。根据《公 司2025年股票期权与限制性股票激励计划》（以下简称"《激励计划》"）的相 关规定以及根据公司2025年第一次临时股东大会的授权，鉴于本次激励计划首次 授予股票期权的激励对象中有6人已离职，不再具备激励对象资格，其 ...

Core Viewpoint - The controversy surrounding the authenticity of "Guerlain Golden Recovery Honey" purchased through a live stream hosted by celebrity 贾乃亮 has raised significant concerns among consumers, leading to claims of counterfeit products despite assurances from the brand's official channels [1][3][5]. Group 1: Consumer Claims - A consumer reported purchasing approximately 7000 yuan worth of "Guerlain Golden Recovery Honey" from 贾乃亮's live stream, suspecting it to be counterfeit based on differences in packaging and texture compared to products from physical stores [3]. - The consumer's claims were supported by a third-party testing agency, which confirmed the product as counterfeit, leading to further questions about the brand's quality control [4][3]. Group 2: Brand and Seller Response - 贾乃亮's studio and the MCN company, 遥望科技, stated that all products sold during the live stream were shipped directly from the "Guerlain Official Flagship Store," ensuring authenticity [5][7]. - The official response emphasized that the logistics chain was managed by the brand itself, aiming to reassure consumers about the product's legitimacy [5][7]. Group 3: Company Background - The operational entity behind the "Guerlain Official Flagship Store" is 路威酩轩香化, a subsidiary of LVMH Group, which oversees the sales of several luxury brands in China [7]. - LVMH Group has not yet provided a public response to the allegations as of the latest updates [8]. Group 4: Sales Performance - During the live stream event on October 16, 贾乃亮's sales reached over 100 million yuan, with "Guerlain Golden Recovery Honey" being one of the top-selling products, accounting for sales between 5 million to 7.5 million yuan [5].

Core Viewpoint - The stock of Yaowang Technology has experienced fluctuations, with a recent decline of 2.08% and a year-to-date increase of 11.73%, indicating volatility in market performance [1][2]. Company Overview - Yaowang Technology, established on July 25, 2002, and listed on September 3, 2009, is based in Nanhai District, Foshan, Guangdong. The company specializes in the production and sales of mid-to-high-end fashion footwear and offers diversified fashion products through wholesale and retail channels [2]. - The company's revenue composition includes 58.70% from social e-commerce, 32.33% from new media advertising, 4.56% from clothing and footwear, 3.97% from self-owned brands and brand distribution, and 0.45% from other sources [2]. Financial Performance - For the period from January to September 2025, Yaowang Technology reported a revenue of 2.613 billion yuan, a year-on-year decrease of 34.65%. The net profit attributable to the parent company was -415 million yuan, reflecting a slight decrease of 1.57% year-on-year [2]. - The company has cumulatively distributed 80.195 million yuan in dividends since its A-share listing, with no dividends distributed in the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Yaowang Technology was 97,500, a decrease of 9.49% from the previous period. The average circulating shares per person increased by 9.41% to 8,917 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest, holding 17.4123 million shares, an increase of 7.9924 million shares from the previous period. Noan Flexible Allocation Mixed Fund (320006) is a new shareholder, holding 2.7025 million shares [3].

Group 1: AI Developments - Google launched its new AI model Gemini 3, claiming it to be the "most intelligent" and "factually reliable" AI system to date, with enhanced capabilities in handling text, images, and audio simultaneously [2] - Jeff Bezos founded a new AI startup named "Project Prometheus," which has raised $6.2 billion in funding and employs nearly 100 staff from major tech companies [4] - Perplexity integrated the Kimi K2 Thinking model, marking it as the only domestic model included alongside OpenAI's GPT-5.1 [17] Group 2: Company Financials and Performance - Amer Sports, the parent company of Arc'teryx, reported a 30% revenue increase to $1.756 billion in Q3 2025, with a 161% rise in adjusted net profit to $185 million [14] - Xiaomi Group announced a record high adjusted net profit of 11.3 billion yuan in Q3 2025, with total revenue reaching 113.1 billion yuan, a 22.3% year-on-year increase [14] - 元气森林 announced the separation of its dairy brand 北海牧场 into an independent operation, focusing on low-temperature yogurt while consolidating resources in the beverage sector [14] Group 3: Market Trends and Predictions - A report indicated that the number of "millionaires" in Hong Kong has increased to approximately 395,000, reflecting a growing wealth concentration in the region [27] - The global smartphone shipment is projected to reach 1.2213 billion units in 2025, with AI smartphones expected to grow from 445.8 million units in 2025 to nearly 600 million units in 2026 [27] Group 4: Corporate Changes and Strategies - DJI held closed-door meetings with multiple investment institutions regarding its new panoramic drone, DJI Avata 360, while stating it has no current financing or IPO plans [6][7] - Manner Coffee responded to rumors about a potential IPO in Hong Kong, stating it would not comment on the speculation [7] - The management of 胖东来 underwent significant changes, with 于东来 stepping down as general manager while retaining his position as chairman [7]

Core Insights - Yowant Technology's "Live E-commerce Overseas Exploration" and "New White Series Concert" have been recognized in the "China New E-commerce Development Innovation Cases" list, highlighting the company's innovative contributions and global strategy in the e-commerce sector [1] Group 1: Global Expansion and Strategy - Yowant Technology has leveraged live e-commerce to combine China's "people, goods, and market" methodology with local demands abroad, establishing a path of "standardized output + differentiated innovation" since entering overseas markets in 2022 [2] - The company has built an overseas team of over 100 people and established product selection bases in the US and Brazil, collaborating with TikTok for live streaming training [2] - Yowant has connected and collaborated with over 9,700 overseas influencers, breaking sales records in North America and Europe [2] Group 2: Performance Metrics - Starting in 2024, Yowant's overseas business is expected to experience significant growth, with notable sales achievements such as a single event GMV of $833,000 in the UK and over $1 million during Black Friday in the US [4] - In July, the North American live e-commerce GMV reached $2.74 million, with a single live stream generating over $630,000 [4] - Yowant's self-owned clay toy brand has quickly become a top 7 category on the platform, demonstrating its full-chain operational capabilities overseas [4] Group 3: Cultural and Commercial Integration - Yowant Technology is focusing on content innovation and diversified IP operations, exemplified by the "New White Series Concert," which attracted over 150,000 attendees across multiple cities, with 75% of the audience coming from outside the local area [5] - The concert series successfully bridged generational gaps, with over 20% of attendees being from the post-2000 generation [5] - The concert utilized immersive experiences and innovative stage designs, achieving over 20 billion exposures across platforms and significant media coverage [7] Group 4: Economic Impact and Future Directions - The "New White Series Concert" not only serves as a cultural transmitter but also as a commercial enabler, generating over 2 million yuan in merchandise sales and boosting local tourism and hotel occupancy rates [7] - Yowant Technology's service capabilities have evolved, as seen in the successful execution of a concert celebrating Zhao Yazhi's 50-year career, utilizing advanced technologies to enhance audience engagement [9] - The company aims to continue innovating in content-driven live streaming, diversified IP operations, and co-creating new consumer brands, contributing to the high-quality development of China's new e-commerce landscape [9]

Core Insights - Minsheng Bank has launched a new "Live Streaming Payment and Direct Connection Recharge System" in collaboration with Hangzhou Yaowang Technology, aimed at addressing the payment processing challenges in the live e-commerce sector [1][2] Group 1: Product Development and Implementation - The new system was developed to tackle the common issues of payment confirmation delays and record synchronization in high-frequency live streaming transactions [2] - A specialized technical team was formed within 15 days to conduct demand research, design the solution, and implement the system, ensuring a comprehensive and efficient process [2] - The system allows for real-time fund arrival notifications and encrypted storage of transaction records, significantly enhancing the efficiency of financial reconciliation for enterprises [2] Group 2: Industry Impact and Future Plans - The system supports a full digitalization of the payment and refund process, creating a comprehensive service system that integrates technology development, operational support, and fund planning [3] - In its first week of operation, the system successfully managed payments for 53,000 partner suppliers, demonstrating its effectiveness in resolving funding management bottlenecks [3] - Minsheng Bank plans to continue focusing on the live e-commerce sector, developing customized financial products and services to support high-quality industry growth [3]

Core Viewpoint - The stock of Yaowang Technology has shown a positive trend with a 14.26% increase year-to-date, reflecting strong market interest and trading activity [1][2]. Company Overview - Yaowang Technology, established on July 25, 2002, and listed on September 3, 2009, is based in Nanhai District, Foshan, Guangdong Province. The company specializes in the production and sales of multi-brand mid-to-high-end fashion footwear and offers diversified fashion products through wholesale and retail channels. Its core business also includes information technology services focused on mobile internet precision marketing [2]. - The revenue composition of Yaowang Technology includes: social e-commerce (58.70%), new media advertising (32.33%), clothing and footwear (4.56%), self-owned brands and brand distribution (3.97%), and others (0.45%) [2]. Financial Performance - For the period from January to September 2025, Yaowang Technology reported a revenue of 2.613 billion yuan, a year-on-year decrease of 34.65%. The net profit attributable to the parent company was -415 million yuan, reflecting a slight decrease of 1.57% year-on-year [2]. - The company has cumulatively distributed 80.195 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Yaowang Technology was 97,500, a decrease of 9.49% from the previous period. The average circulating shares per person increased by 9.41% to 8,917 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 17.4123 million shares, an increase of 7.9924 million shares from the previous period. Noan Flexible Allocation Mixed Fund (320006) is a new entrant, holding 2.7025 million shares [3].

Market Overview - The primary economic sector experienced a slight decline of 0.04% compared to the previous trading day, with *ST Yazhen leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Notable gainers included: - Miao Exhibition (300795) with a closing price of 14.60, up 3.55% on a trading volume of 97,800 shares and a turnover of 144 million [1] - Remote Technology (002291) closed at 7.06, up 3.37% with a trading volume of 540,900 shares and a turnover of 376 million [1] - Major decliners included: - *ST Yazhen (603389) closed at 45.89, down 4.99% with a trading volume of 32,300 shares and a turnover of 149 million [2] - Kai Kai Industry (600272) closed at 14.83, down 4.14% with a trading volume of 312,500 shares and a turnover of 46.3 million [2] Capital Flow - The primary economic sector saw a net outflow of 113 million from main funds, while speculative funds had a net inflow of 37.65 million, and retail investors saw a net inflow of 75.09 million [2] - Specific stock capital flows indicated: - Miao Exhibition had a main fund net inflow of 21.1 million, while retail investors experienced a net outflow of 22.96 million [3] - Remote Technology had a main fund net inflow of 13.22 million, with retail investors seeing a net outflow of 19.80 million [3]

Core Viewpoint - The stock of Yaowang Technology has shown fluctuations with a recent increase of 2.05%, while the company faces a decline in revenue and net profit year-on-year [1][2]. Company Overview - Yaowang Technology, established on July 25, 2002, and listed on September 3, 2009, is located in Nanhai District, Foshan, Guangdong Province. The company specializes in the production and sales of mid-to-high-end fashion shoes and diversified fashion products, with a focus on mobile internet precision marketing [2]. - The revenue composition of Yaowang Technology includes: social e-commerce 58.70%, new media advertising 32.33%, clothing and footwear 4.56%, self-owned brands and brand distribution 3.97%, and others 0.45% [2]. - The company belongs to the Shenwan industry classification of Media - Advertising Marketing - Marketing Agency and is associated with concepts such as Initial Public Offering Economy, New Retail, Rural Revitalization, WeChat Concept, and Small Cap [2]. Financial Performance - For the period from January to September 2025, Yaowang Technology reported a revenue of 2.613 billion yuan, a year-on-year decrease of 34.65%, and a net profit attributable to shareholders of -415 million yuan, a year-on-year decrease of 1.57% [2]. - The company has cumulatively distributed 80.195 million yuan since its A-share listing, with no distributions in the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders of Yaowang Technology was 97,500, a decrease of 9.49% from the previous period, with an average of 8,917 circulating shares per person, an increase of 9.41% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third largest with 17.4123 million shares, an increase of 7.9924 million shares from the previous period. The Noan Flexible Allocation Mixed Fund (320006) is the ninth largest circulating shareholder, holding 2.7025 million shares as a new shareholder [3].