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，並明確表示概不就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。 承董事會命 迅銷有限公司 佘綺雯 公司秘書 日本，二零二五年十月九日 於本公告日期，我們的執行董事為柳井正、岡﨑健、柳井一海及柳井康治，以及我們的獨立非執行董 事為服部暢達、新宅正明、大野直竹、Kathy Mitsuko Koll (也被稱為 Kathy 松井)、車戶城二及京谷 裕。 FAST RETAILING CO., LTD. 迅銷有限公司 （於日本註冊成立的有限公司） （股份代號：6288） 短暫停牌 應迅銷有限公司（「本公司」）要求，本公司的香港預託證券將於二零二五年十月九日（星期四） 下午一時正起於香港聯合交易所有限公司短暫停牌，有待發出本公司及其附屬公司截至二零二五 年八月三十一日止年度之全年業績公告，該公告之內容屬內幕消息。 ...

Core Viewpoint - Uniqlo has been awarded the "Timeless Innovation Model" at the 2025 Brand Power Awards, recognizing its ability to adapt and innovate over its 30 years in the Chinese market, responding to consumer and societal needs [1][19]. Group 1: Brand Philosophy and Strategy - The core philosophy of Fast Retailing, Uniqlo's parent company, is to create high-quality clothing that meets the needs of everyday life, emphasizing detail, simplicity, and aesthetic rationality [4]. - Uniqlo's approach, "Global is local, local is global," treats each store as an independent entity, tailoring product offerings and displays to local cultural and climatic differences, which enhances its market presence [11]. - This strategy reflects a shift from traditional fast fashion reliance on speed and imitation to a more nuanced, localized operation that connects global design with local consumer needs [11]. Group 2: Regional Operations and Cultural Integration - The opening of the Changsha flagship store exemplifies Uniqlo's commitment to localized operations, featuring over 2,000 square meters of space that integrates local culture and international trends [17]. - The store launched special regional products and a custom UTme! series, incorporating local elements like "crayfish" and "chili," fostering a sense of cultural pride among consumers [17]. - Uniqlo's regional strategy is not merely a market tactic but a value-driven approach that connects consumers with cultural identity, positioning the brand as a participant in cultural co-creation [19]. Group 3: Recognition and Impact - Uniqlo's award for "Timeless Innovation Model" is attributed to its effective localization strategy, which combines refined regional operations with local cultural co-creation, achieving a symbiotic relationship with society [19]. - The brand demonstrates how an international company can grow alongside local culture in the Chinese market, showcasing a sustainable path for retail beyond fast fashion [19].

迅銷有限公司 (「本公司」，連同其附屬公司(統稱「本集團」) )董事會(「董事會」)兹通告謹定於 二零二五年十月九日(星期四)上午九時(日本時間) / 上午八時(香港時間)舉行董事會會議，藉以(其 中包括)考慮及通過本集團截至二零二五年八月三十一日止年度的末期業績。 承董事會命 迅銷有限公司 佘綺雯 公司秘書 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，並明確表示概不就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。 FAST RETAILING CO., LTD. 迅銷有限公司 （於日本註冊成立的有限公司） （股份代號：6288） 董事會會議召開日期 日本，二零二五年九月二十三日 於本公告日期，我們的執行董事為柳井正、岡﨑健、柳井一海及柳井康治，以及我們的獨立非執行董 事為服部暢達、新宅正明、大野直竹、Kathy Mitsuko Koll (也被稱為 Kathy 松井)、車戶城二及京谷裕。 ...

Core Viewpoint - The article discusses the differences in succession practices between Japanese and Chinese family businesses, highlighting Japan's unique approach to inheritance and the cultural significance of family legacy in business continuity [6][29]. Group 1: Japanese Succession Practices - In Japan, succession is viewed as an obligation rather than a choice, with discussions focused on "who will succeed" rather than "whether to succeed" [6][14]. - The concept of "muko-iyashi" (婿养子) allows sons-in-law to inherit family businesses, integrating them into the family and ensuring continuity [16][22]. - Approximately 97% of Japanese small and medium-sized enterprises are family-owned, with about 66% being family-operated [13]. Group 2: Examples of Successful Succession - Toyota is a prime example of successful family succession, with multiple generations of the Toyota family and external leaders contributing to its growth [7][8]. - Nintendo's succession involved a son-in-law taking over, demonstrating the effectiveness of the muko-iyashi system in maintaining business stability [20]. - Companies like Uniqlo and Japan's largest courier service, Yamato Transport, have also seen successful transitions through family or external leadership [10][11]. Group 3: Cultural Factors Influencing Succession - Japanese culture places a strong emphasis on family legacy, with societal expectations for heirs to take over family businesses [28][29]. - The long-standing tradition of prioritizing family names and businesses contributes to a stable environment for succession [26][30]. - The average lifespan of Japanese companies is longer, making succession meaningful and culturally significant [29]. Group 4: Challenges and Considerations - While Japan has a robust succession framework, challenges such as internal conflicts and the need for modernization can arise [10][11]. - The article notes that Japan has fewer high-profile failures in succession compared to other countries, indicating a generally stable transition process [8][13]. - The high inheritance tax in Japan is mitigated by special provisions for business succession, encouraging continuity [29].

Core Viewpoint - GU, the sister brand of Uniqlo, is closing its first store in China located on Shanghai's Huaihai Road, raising concerns about its future in the Chinese market [1][2][6]. Store Closures - The GU flagship store on Huaihai Road will officially close on August 24, 2025, following the announcement of a clearance sale [2][4]. - The Guangzhou Victoria Plaza store, which opened in November 2019, is also set to close on August 16, 2025, marking GU's only store in South China [2][6]. - Following these closures, GU will only have two remaining stores in Shenzhen, leading to speculation about a potential exit from the mainland Chinese market [1][6]. Company Response - GU has confirmed the closures but stated that it is not exiting the Chinese market, instead optimizing its operational layout [1][7]. - The company has opened a new store in Shenzhen and continues to operate its online store on Tmall [7]. Financial Performance - GU's revenue for the first three quarters of the fiscal year increased by 4.0% to 256.2 billion yen, but operating profit fell by 10.7% to 26.3 billion yen [8][10]. - The decline in profit is attributed to insufficient inventory and marketing for certain products, alongside rising costs due to a weak yen and increased operational expenses [8][10]. Market Context - Since its entry into the Chinese market in 2013, GU aimed to expand to 50 stores within 3 to 5 years, but has faced significant challenges, leading to a reduction in its store count from 14 in 2019 to just two remaining [6][11]. - The overall performance of GU contrasts with its parent company, Fast Retailing, which reported a 10.6% increase in total revenue for the same period [10].

第 1 頁 共 2 頁 v 1.1.1 EF001 | | | EF001 | | --- | --- | --- | | 免責聲明 | | | | | 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 | | | 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。 | | | | | 香港預託證券現金股息公告 | | | 發行人名稱 | 迅銷有限公司 | | | 股份代號 | 06288 | | | 多櫃檯股份代號及貨幣 | 不適用 | | | 相關股份代號及名稱 | 不適用 | | | 公告標題 | 派發截至二零二五年八月三十一日止年度之末期股息的建議記錄日期 | | | 公告日期 | 2025年8月1日 | | | 公告狀態 | 新公告 | | | 股息信息 | | | | 股息類型 | 末期 | | | 股息性質 | 普通股息 | | | 財政年末 | 2025年8月31日 | | | 宣派股息的報告期末 | 2025年8月31日 | | | 宣派股息 | 有待公佈 | | | 股東批准日期 | 不 ...

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，並明確表示概不就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。 FAST RETAILING CO., LTD. 迅銷有限公司 （於日本註冊成立的有限公司） （股份代號：6288） 派發截至二零二五年八月三十一日止年度之末期股息及 於二零二五年股東周年大會上投票之權利所依據的建議記錄日期 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.66(1)條而作出。 (1) 待迅銷有限公司（「本公司」）之董事會於根據上市規則第13.43條所公佈將舉行的會議上批 准及確認後，截至二零二五年八月三十一日止年度之末期股息（如有）將會派付予於二零二 五年八月二十九日（星期五）名列於(a)日本股東名冊上的股東，以及(b)香港預託證券登記冊 上的香港預託證券持有人； (2) 根據存管協議條款指示存管處或其代名人出席本公司二零二五年股東周年大會並在會上投票 之權利將授予於二零二五年八月二十九日（星期五）名列於香港預託證券登記冊上的香港預 託證券持有人； (3) 任何人 ...

Core Insights - The global fashion industry is experiencing differentiated consumer demand and a restructuring of competitive dynamics, making brand strategy in China increasingly critical [1] - Fast Retailing, the parent company of Uniqlo, reported a record high in revenue and operating profit for the third quarter of fiscal year 2025, with revenues reaching 2.6167 trillion yen, a 10.6% year-on-year increase [1] - Uniqlo's strategy in China focuses on "regional cultivation" through a "store-by-store" approach, creating differentiated product offerings and localized consumer experiences [1][2] Group 1: Regional Market Development - The "store-by-store" strategy is central to Uniqlo's deepening presence in the Chinese market, tailoring product combinations and store experiences to meet local consumer needs [2] - The opening of the Chengdu flagship store in May 2023, which spans nearly 2,000 square meters, exemplifies this strategy with exclusive products and community engagement initiatives [2][4] - Uniqlo plans to open six regional quality stores in cities like Xuchang, Zhengzhou, and Wuhan from May to August 2023, further implementing its localized strategy [4][6] Group 2: Product Strategy and Innovation - Uniqlo emphasizes functional innovation and scene adaptability in its product strategy, addressing real consumer needs amid a competitive market [7] - The launch of a China-exclusive cooling sun protection clothing line has gained significant attention, establishing a quality benchmark in the market [7][9] - The brand's product offerings, such as the DRY-EX series and AIRism clothing, are designed to meet diverse lifestyle scenarios, enhancing consumer comfort and efficiency [9] Group 3: Emotional Connection and Cultural Integration - Uniqlo connects with younger consumers through collaborations with popular cultural IPs, such as the upcoming partnership with Pop Mart featuring the LABUBU family [9][11] - Since initiating the "Cultural Co-Creation" plan in 2021, Uniqlo has launched over 30 local cultural collaboration series, reinforcing its brand identity as a "wearable cultural memory" [12] - The brand's success during the Tmall "6.18" sales event highlights consumer recognition of its product functionality and the brand loyalty fostered through cultural engagement [14]

Core Viewpoint - Uniqlo is experiencing a decline in its Chinese market, which is the only market globally where it has seen a drop in performance, leading to a decrease in both revenue and profit [1][9]. Group 1: Consumer Sentiment - Many loyal customers feel alienated by Uniqlo's shift towards a "spicy girl" style, which features tighter and shorter clothing, making it less accessible for average consumers [2][3]. - Consumers have expressed frustration over the sizing, with reports that women's S sizes are smaller than children's sizes, leading to a perception that Uniqlo has abandoned its core customer base [3][4]. - The increase in prices and perceived decrease in value has led to a significant drop in purchase frequency among former loyal customers [4][6]. Group 2: Pricing and Quality Issues - Uniqlo has been criticized for increasing prices while the quality of its products has reportedly declined, with some consumers noting that items shrink or lose shape after washing [8][15]. - The price-to-cost ratio for Uniqlo's products has shifted from 2.5-3 times to over 4 times, indicating a significant markup that is not aligned with consumer expectations [6][14]. - A survey indicated that nearly half of respondents cited "high prices" as a reason for not purchasing Uniqlo products, with others pointing to quality issues and limited styles [7]. Group 3: Market Performance - Uniqlo's parent company, Fast Retailing, reported a 5% decline in revenue and a 3% decline in operating profit in the Chinese market, contrasting with growth in other regions [9][12]. - The company's attempts to pivot towards trendy styles and smaller sizes have resulted in short-term revenue increases but have alienated long-term customers [12][18]. - Fast Retailing has acknowledged the impact of competition from lower-priced alternatives, which has contributed to Uniqlo's declining market share in China [9][14]. Group 4: Strategic Shifts - Uniqlo is attempting to reposition itself by focusing on brand storytelling and enhancing the shopping experience through flagship stores and localized product offerings [17][18]. - The company is moving away from its traditional efficiency-driven model to a more experience-oriented approach, aiming to create a lifestyle brand rather than just a clothing retailer [18][19]. - Despite these efforts, analysts suggest that the long-term effectiveness of these strategies remains uncertain, as the brand's core identity may be compromised [13][14].

Core Viewpoint - The article discusses the rising trend of "平替" (alternative products) among young consumers, highlighting how brands like Uniqlo are being replaced by more cost-effective options, including factory white-label products, as consumers prioritize practicality and affordability over brand prestige [4][5][17]. Group 1: Market Trends - The term "平替" has become a key search term among young consumers, with Uniqlo frequently cited as a go-to alternative for various high-end brands [4][10]. - The popularity of "平替" has led to a surge in content on platforms like Xiaohongshu, with discussions around cost-effective alternatives reaching nearly 60 billion views [13][15]. - A significant shift in consumer mindset is noted, with approximately 85% of respondents in a survey indicating they purchased alternatives in the past year [17]. Group 2: Consumer Behavior - Young consumers are increasingly seeking products that offer similar quality to branded items but at a lower price point, reflecting a change in purchasing priorities [17][27]. - The experience of consumers with "平替" products often includes a mix of satisfaction and disappointment, as quality can vary significantly [21][35]. - Many consumers are willing to overlook minor quality issues in favor of lower prices, indicating a shift towards valuing affordability over brand loyalty [23][24]. Group 3: Industry Challenges - The rise of "平替" has led to a complex market where consumers may encounter counterfeit or subpar products, complicating their purchasing decisions [31][35]. - Reports indicate that a portion of consumers have experienced issues with quality and authenticity when purchasing "平替" items, leading to a growing concern about the reliability of such products [43][48]. - The article highlights the prevalence of misleading marketing practices, where products are falsely advertised as alternatives to high-end brands, contributing to consumer mistrust [44][50]. Group 4: Future Outlook - The trend of "平替" is expected to continue evolving, with consumers becoming more discerning and aware of marketing tactics used by brands [69][70]. - As the market matures, there is a potential shift towards a more rational consumer mindset, where individuals prioritize quality and value over brand names [66][70]. - The article suggests that the concept of "平替" may lead to a broader reevaluation of consumer spending habits, with an emphasis on long-term value rather than immediate gratification [68].