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: 2026年1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: 海倫司國際控股有限公司 呈交日期: 2026年2月3日 | 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) | 09869 | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000,000,000 | USD | | 0.0000000001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 500,000,000,000,000 | USD | | 0.0000000001 | USD | | 50,000 | 本月 ...

Core Viewpoint - The company "极物思维" is attempting to become the first listed restaurant and bar stock in Hong Kong, contrasting with the struggles of "海伦司" which is facing declining performance and stock prices [1][10][11]. Group 1: Company Overview - "极物思维" submitted its main board listing application to the Hong Kong Stock Exchange on January 9, aiming to capture the title of "first restaurant and bar stock" [1][10]. - The company has established 112 direct-operated stores across 40 cities in China, with 109 operating under the "COMMUNE幻师" brand [3][12]. - "极物思维" has achieved a market share of 7.8% in the restaurant and bar sector by 2024, ranking first in revenue for three consecutive years from 2022 to 2024 [3][12]. Group 2: Business Model and Performance - The company's business model includes a full-day service approach, offering diverse food options during the day and transforming into a social drinking venue at night [3][12]. - Revenue increased from 845 million RMB in 2023 to 1.074 billion RMB in 2024, representing a year-on-year growth of 27.1% [5][14]. - The gross profit margin has remained above 65%, reaching 68.7% in the first three quarters of 2025, significantly higher than competitors like "蜜雪集团" and "海底捞" [5][14]. Group 3: Competitive Landscape - "海伦司" is struggling with a single low-cost model, leading to a 34% revenue drop to 291 million RMB in the first half of 2025, while "极物思维" has shown resilience with a net profit increase of over 40% [5][16]. - The low-cost strategy of "海伦司" has resulted in a decline in service quality, impacting customer retention, while "极物思维" mitigates risks through a diversified operational strategy [5][16]. Group 4: Growth Challenges - Despite strong current performance, "极物思维" faces challenges related to its reliance on first and second-tier cities, with over 90% of its stores located in these areas [7][16]. - The company plans to expand into lower-tier cities, but faces difficulties as sales in these markets are significantly lower, with average daily sales of approximately 20,100 RMB compared to 38,483 RMB in first-tier cities [9][18]. - The need to balance brand positioning with market demands in lower-tier cities presents a significant challenge for "极物思维" [9][18].

Core Viewpoint - COMMUNE, a restaurant and bar brand under JI WU SI WEI Co., has officially submitted its prospectus for an IPO on the Hong Kong Stock Exchange, aiming to capitalize on the growing restaurant and bar market in China, which is valued at over 100 billion yuan [1]. Company Overview - JI WU SI WEI was established in 2016 and is headquartered in Zhuhai, Guangdong, with its first restaurant in Wuhan. The company plans to expand to 112 locations by September 2025 [1]. - The brand has achieved significant revenue growth, surpassing 1 billion yuan in 2024, and holds a market share of approximately 7.8%, which is double that of its closest competitors [1]. Financial Performance - For the fiscal year 2023-2024, JI WU SI WEI's revenue increased from 845 million yuan to 1.074 billion yuan, a year-on-year growth of 27.1%. Net profit also rose from 50.5 million yuan to 53.98 million yuan, marking a 6.8% increase [4]. - In contrast, competitor HAILUNSI saw a decline in revenue from 1.209 billion yuan to 752 million yuan during the same period, with net profit dropping from 181 million yuan to a loss of 77.97 million yuan [4]. Market Positioning - JI WU SI WEI operates a direct management model with all its restaurants being company-owned, while HAILUNSI relies heavily on franchising [4]. - The company emphasizes a diverse operational model, offering services across various meal times, which is seen as a competitive advantage over HAILUNSI's focus on budget-friendly offerings [5]. Expansion Plans - The IPO proceeds will be used to expand the COMMUNE network, with plans to open 150 to 190 new locations from 2026 to 2029 [5]. - The company aims to enhance its market presence in first and second-tier cities, where it currently operates nearly 90% of its locations [6]. Challenges and Risks - Despite revenue growth, JI WU SI WEI has faced challenges in profitability, with adjusted net profit declining from 73.45 million yuan to 66.19 million yuan in 2024, indicating a "growth without profit" scenario [9]. - Rising costs in raw materials and employee benefits have contributed to this trend, with raw material costs increasing by 39% and employee costs by 38% in 2024 [9]. Competitive Landscape - The only publicly listed competitor in the same sector is HAILUNSI, which has seen a significant decline in market value, dropping from a peak of 30.295 billion HKD to 1.152 billion HKD [3][6]. - Analysts suggest that JI WU SI WEI's differentiated business model and strong brand positioning may lead to a successful IPO, although market sentiment may affect its valuation [6].

Core Viewpoint - The company Jiwusiying is attempting to become the first "restaurant and bar stock" in Hong Kong, contrasting with the struggles of Helen's (09869.HK) in the same sector, which is facing declining performance and stock price issues [2][3]. Company Overview - Jiwusiying, established in 2016, has differentiated itself from competitors like Helen's by adopting a full-time operational model, offering diverse food options during the day and transforming into a social drinking venue at night [4]. - As of September 2025, Jiwusiying has established 112 direct stores across 40 cities, with 109 operating under the "COMMUNE" brand, achieving a market share of 7.8% in the restaurant and bar sector by 2024 [4]. Financial Performance - Jiwusiying's revenue grew from 845 million RMB in 2023 to 1.074 billion RMB in 2024, marking a year-on-year increase of 27.1%. For the first nine months of 2025, revenue reached 872 million RMB, reflecting a 14.2% increase [6]. - The company's gross margin has consistently remained above 65%, reaching 68.7% in the first three quarters of 2025, significantly higher than competitors like Mijiu Group and Haidilao [6]. - Alcoholic beverages contributed 45% of Jiwusiying's revenue, with alcoholic drinks accounting for 85% of that segment, driving overall profitability [6]. Market Position and Challenges - Jiwusiying's strategy of full-time coverage provides resilience against market fluctuations, while Helen's struggles with a single low-cost model have led to a 34% revenue drop to 291 million RMB in the first half of 2025 [6][7]. - Despite strong performance, Jiwusiying faces challenges related to its reliance on high-consumption urban markets, with over 90% of its stores located in first and second-tier cities, raising concerns about market saturation [8]. - The company plans to expand into lower-tier cities, but faces challenges due to lower sales and consumer spending power in these markets, which may conflict with its mid-to-high-end positioning [10]. Strategic Outlook - Jiwusiying's upcoming IPO is seen as a test of its full-scenario restaurant and bar model, which has shown competitive strength during a period of market differentiation [10]. - To maintain long-term market recognition, the company must address two key challenges: reversing the decline in same-store sales in first-tier cities and finding a suitable approach for expansion into lower-tier markets without compromising brand integrity [10].

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) | 09869 | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000,000,000 | USD | | 0.0000000001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 500,000,000,000,000 | USD | | 0.0000000001 | USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 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 ...

Core Viewpoint - Helen's (09869.HK) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1: Buyback Details - The company will repurchase 100,000 shares at a total cost of HKD 93,000 [1] - The buyback price is set at HKD 0.93 per share [1]

Core Viewpoint - The company Helen's (09869) announced a share buyback plan, indicating confidence in its financial position and future prospects [1] Summary by Categories Share Buyback - The company plans to repurchase 100,000 shares at a total cost of HKD 93,000 [1] - The buyback price is set at HKD 0.93 per share [1] - The buyback is scheduled for December 11, 2025 [1]

Core Viewpoint - Helen's (09869) announced a share buyback plan, intending to repurchase 100,000 shares at a total cost of HKD 93,000, with a buyback price of HKD 0.93 per share [1] Summary by Category - **Company Actions** - The company plans to execute a share buyback on December 11, 2025, with a total expenditure of HKD 93,000 [1] - The buyback price is set at HKD 0.93 per share, indicating a strategic move to enhance shareholder value [1]

FF305 公司名稱： 海倫司國際控股有限公司 呈交日期： 2025年12月11日 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 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) | 09869 | 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 ...

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 致：香港交易及結算所有限公司 公司名稱: 海倫司國際控股有限公司 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 截至月份: 2025年11月30日 狀態: 新提交 | 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) | 09869 | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000,000,000 | USD | | 0.0000000001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 500,000,000,000,000 | USD | | 0.0000000001 | USD ...