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。 China Dongxiang (Group) Co., Ltd. 中 國 動 向（ 集 團 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3818） 須予披露交易 認購理財產品 認購事項 董事會欣然宣佈，於二零二六年一月二十七日，明泰（本公司的直接全資附屬公 司）訂立協議，以從滙豐人壽認購理財產品，金額為43,500,000美元。 上市規則的涵義 由於有關認購事項的一項或多項適用百分比率（定義見上市規則第14.07條）超過 5%但全部均低於25%，故認購事項構成本公司的一項須予披露交易，且須遵守 上市規則第十四章的申報及公告規定。 認購理財產品 倘受保人於理財產品保單生效期間身故，除非有保單持 有人指定的後補受保人成為新受保人，否則身故賠償將 支付予受益人（即明泰），但受保人在保單簽發日、複效 日或更改受保人生效日（以較遲者為準）起一年內自殺的 除外。 身故賠償將為下列各項的較高者： ...

| 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03818 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 100,000,000 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12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: 中國動向(集團)有限公司 呈交 ...

Core Viewpoint - China Dynamics (03818) announced the resignation of Mr. Liu Xiaosong as an independent non-executive director, chairman of the remuneration committee, member of the audit committee, and member of the nomination committee, effective December 31, 2025, to allocate more time to personal affairs [1] Summary by Categories - **Resignation Announcement** - Mr. Liu Xiaosong has resigned from multiple positions within the company, including independent non-executive director and various committee roles [1] - **Effective Date** - The resignation will take effect on December 31, 2025 [1] - **Reason for Resignation** - The reason provided for the resignation is to allow Mr. Liu to dedicate more time to personal matters [1]

Group 1 - The core point of the article is that Liu Xiaosong has resigned from his positions as an independent non-executive director, chairman of the remuneration committee, member of the audit committee, and member of the nomination committee at China Dongxiang (03818.HK) [1] - The resignation will take effect on December 31, 2025, allowing Liu to dedicate more time to personal affairs [1]

Core Viewpoint - China Dynamics (03818) announced the resignation of Mr. Liu Xiaosong from his positions as independent non-executive director, chairman of the remuneration committee, member of the audit committee, and member of the nomination committee, effective December 31, 2025, to allocate more time to personal affairs [1] Group 1 - Mr. Liu Xiaosong's resignation is effective from December 31, 2025 [1] - The resignation is aimed at allowing Mr. Liu to focus more on personal matters [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。 China Dongxiang (Group) Co., Ltd. 中 國 動 向（ 集 團 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3818） 獨立非執行董事辭任 獨立非執行董事辭任 中國動向（集團）有限公司董事會（分別為「本公司」、「董事」及「董事會」）宣佈，劉曉 松先生（「劉先生」）已辭任獨立非執行董事、董事會薪酬委員會（「薪酬委員會」）主 席、董事會審核委員會（「審核委員會」）成員及董事會提名委員會（「提名委員會」）成 員，自二零二五年十二月三十一日生效，以便投放更多時間於個人事務。 未能符合上市規則 於劉先生辭任獨立非執行董事及不再出任董事委員會之職務後，董事會僅包括兩名 獨立非執行董事。因此，本公司無法符合(i)聯交所證券上市規則（「上市規則」）第 3.10(1)條所載規定的要求，即本公司必須有至少三名獨立非執行董事；(ii)上市規則 第3.21條所載規定的要求，即審 ...

China Dongxiang (Group) Co., Ltd. 中 國 動 向（ 集 團 ）有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：3818） 董事名單與其角色和職能 高煜先生 唐松蓮女士 董事會設立5個委員會。下表提供各董事會成員在這些委員會中所擔任的職位： | | 委員會 | | | | | | --- | --- | --- | --- | --- | --- | | 董事 | 執行委員會 | 審核委員會 | 薪酬委員會 | 提名委員會 | 環境、社會及 管治委員會 | | 陳義紅先生 | C | | M | | | | 陳晨女士 | M | | | C | C | | 呂光宏先生 | M | | | | M | | 高煜先生 | | M | | M | | | 唐松蓮女士 | | C | M | | M | 附註： C 有關委員會主席 中國動向（集團）有限公司董事會（「董事會」）成員載列如下： 執行董事： 陳義紅先生 （主席） 陳晨女士 （首席執行官）（總裁）（聯席主席） 呂光宏先生 （首席財務官） 獨立非執行董事： M 有關委員會成員 2025年12月31日 ...

Core Viewpoint - China Dongxiang Group integrates sustainable development concepts into every aspect of its supply chain management, actively responding to the national "dual carbon" goals and global sustainable development initiatives [1][4] Group 1: Supply Chain Management - The company operates two well-known sportswear brands, KAPPA and PHENIX, and has been a pioneer in the domestic sportswear industry [1] - In the 2024/2025 fiscal year, the supplier elimination rate reached 8%, while the proportion of high-quality A-level suppliers increased from 65% to 78%, further optimizing supply chain resilience [1] Group 2: Environmental Responsibility - The company conducts detailed reviews of suppliers' operations for high-pollution processes like printing and dyeing, ensuring compliance with environmental regulations [2] - In the 2024/2025 fiscal year, total greenhouse gas emissions decreased by 51.4% compared to the previous fiscal year, and 100% of the purchased shoe boxes and paper packaging materials were FSC certified [2] Group 3: Innovation and Collaboration - The company actively builds an open and cooperative ecological platform, enhancing overall resource recycling rates in the industry through initiatives like promoting eco-friendly materials and optimizing production processes [3] - The company emphasizes collaborative innovation with industry partners, recognizing that technological innovation and resource integration are core drivers of industry progress [3] Group 4: Future Outlook - The company aims to deepen the transparency, greenness, and collaboration of its supply chain management, contributing to the transformation of the sports fashion industry towards greater efficiency, lower carbon emissions, and higher responsibility [4]

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國動向(集團)有限公司 呈交日期: 2025年12月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03818 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月 ...

Financial Performance - For the six months ended September 30, 2025, the company reported revenue of RMB 748 million, a slight decrease of 0.1% compared to RMB 749 million in the same period last year [10]. - Gross profit for the same period was RMB 511 million, down 1.0% from RMB 516 million, resulting in a gross margin of 68.3%, a decrease of 0.6 percentage points year-on-year [10]. - Operating profit increased by 27.8% to RMB 207 million, with the operating profit from the sports equipment segment in China rising by 30.0% to RMB 26 million [10]. - Profit attributable to equity holders was RMB 204 million, representing a significant increase of 48.9% compared to RMB 137 million in the previous year [10]. - Basic and diluted earnings per share were RMB 3.47, up 48.3% from RMB 2.34 year-on-year [10]. - The company declared an interim dividend and special interim dividend of RMB 2.08 per share, an increase of 48.6% from RMB 1.40 per share in the previous year [10]. - The group recorded a pre-tax profit of RMB 210 million, resulting in an income tax expense of RMB 6 million, with an effective tax rate of 2.9%, down from 14.9% in the previous period [62]. - The company reported a net profit of RMB 203,773 thousand for the six months ended September 30, 2025, compared to RMB 188,303 thousand in the previous year, marking an increase of approximately 8.2% [157]. Market and Economic Environment - The global economic growth forecast for 2025 was downgraded to 2.8% by the IMF, highlighting ongoing challenges in the international trade environment [11]. - In the first three quarters of 2025, China's GDP grew by 5.2% year-on-year, with retail sales of consumer goods reaching RMB 36.6 trillion, a 4.5% increase [28]. - The sports goods industry in China saw a retail sales growth of 22.2% year-on-year in the first half of 2025, supported by macro policies and market demand [30]. - The outdoor sports industry is projected to reach a total scale of 3 trillion yuan by 2025, driven by government policies and initiatives [32]. Brand Performance and Strategy - The total number of KAPPA brand stores reached 975 as of September 30, 2025, reflecting the company's commitment to enhancing its retail presence [14]. - KAPPA brand achieved a 22% year-on-year sales growth during the second quarter through effective promotional activities [35]. - The KAPPA brand's retro running shoes became a best-selling product, experiencing multiple reorders and sold out quickly [34]. - PHENIX brand deepened its presence in the Chinese market with high-performance ski products and a new active rescue system in collaboration with Beidou Satellite, set to launch in the 2025-2026 ski season [16][17]. - PHENIX brand launched the "PARS" satellite positioning active rescue system in collaboration with Beidou Satellite, with a product launch planned for the 2025-2026 snow season [37]. - KAPPA's footwear sales exceeded expectations, driven by the successful launch of the TIFO "Little Pink Shoes" and the return of the retro running shoes, with stable discount control and strong sell-out performance [41]. - KAPPA's accessory business showed steady growth, with successful products like the "Ice Skin Croissant" and improved operational efficiency through refined product development processes [42]. Investment and Financial Management - As of September 30, 2025, the group's investment net assets amounted to RMB 8,448 million, reflecting a 1% increase from March 31, 2025 [18]. - The group plans to continue optimizing its investment portfolio while maintaining a prudent approach to risk management [18]. - The group is actively responding to the government's call for sustainable development, establishing a high-standard ESG management system [19]. - The group aims to enhance communication with investment fund managers to ensure timely and reasonable exits from invested projects [18]. - The group maintains a positive outlook on the Chinese sportswear market, driven by structural resilience and government support, with plans to innovate and optimize its business model [45]. - The group emphasizes a cautious investment strategy, focusing on optimizing asset structures and ensuring timely exits from investment projects to provide stable returns to shareholders [45]. - The group has a diversified investment portfolio, including private equity funds, cash equivalents, and listed securities, totaling approximately RMB 82 billion as of September 30, 2025 [79]. Risk Management - The group emphasizes risk management with a comprehensive risk assessment and management system for investment projects [85]. - Regular risk assessments are conducted quarterly, semi-annually, and annually to monitor key indicators and adjust risk levels accordingly [90]. - The group employs a diversified investment strategy to mitigate risks associated with reliance on single counterparties [87]. - Financial monitoring of invested companies is conducted at least biannually to assess financial status and potential risks [92]. Corporate Governance and Compliance - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange listing rules [125]. - The audit committee, consisting of three independent non-executive directors, reviewed the effectiveness of internal controls and risk assessments for the six months ending September 30, 2025 [127]. - The company has adopted the standard code for securities transactions by directors and confirmed compliance for the six months ending September 30, 2025 [126]. Shareholder and Equity Management - The company has maintained a cumulative dividend payout of RMB 8.13 billion since its listing, with a cumulative payout ratio of 87% [13]. - The company implemented a share incentive plan for management, issuing a total of 202,310,000 shares at a subscription price of HKD 1.35 per share, representing a discount of approximately 9.40% from the market price [68]. - The company issued 9,000,000 shares to a management member at a subscription price of HKD 1.29 per share, reflecting a discount of about 9.8% from the market price [69]. - The company has not entered into any arrangements that would allow directors or their family members to benefit from purchasing shares or bonds of the company [110]. - The company has a clear strategy for stock option grants, aligning employee incentives with company performance [116].