| 麦格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的有關事件的日 相關法 | | --- | --- | --- | --- | --- | --- | --- | | | 股份數量 | | | | 精发费 -- 就 * 註 | 有役票權股 作者 | | | | | | | | 份自分步 | | CS20250807E00291 | JPMorgan Chase & Co. | 1201(L) | 2,655,324(L) | HKD 15.9962 | 159.955.547(L) | 10.92(L)04/08/2025 | | | | | | | 21,004,778(S) | 1.43(S) | | | | | | | 136,042,837(P) | 9.29(P) | | 股份代號: | 01910 | | --- | --- | | 上市法國名稱: | 新秀麗集團有限公司 | | 日期 (日 / 月 / 年): | 08/07/2025 - 08/08/2025 | 格隆汇8月8日丨根据联交所最新权益 ...

增持后，JPMorgan Chase & Co.最新持好仓数目为162,610,871股，持好仓比例由10.92%上升至11.10%。 | 股份代號: | 01910 | | --- | --- | | 上市法國名稱: | 新秀麗集團有限公司 | | 日期 (日 / 月 / 年): | 07/07/2025 - 07/08/2025 | | 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | | 持有權益的股份數目 佔已發行的有關事件的日 相關法 | | | --- | --- | --- | --- | --- | --- | --- | | | | 股份题目 | | 做、标上部分期。 | 有投票權股 期(日/月/ | 程 | | | | | | | 177 = 778 5 | | | CS20250806E00280 | JPMorgan Chase & Co. 1101(L) HKD 16.0992 | | 2.653.138(L | 162.610.871(L) | 11.10(L) 01/08/2025 | | | | | | | 20,833, ...

格隆汇8月7日丨根据联交所最新权益披露资料显示，2025年8月1日，新秀丽(01910.HK)获T. Rowe Price Associates, Inc. and its Affiliates在场内以每股均价 16.05港元增持139.38万股，涉资约2237.05万港元。 增持后，T. Rowe Price Associates, Inc. and its Affiliates最新持股数目为8321.16万股，持股比例由5.90%上升至6.01%。 | 股份代號: | 01910 | | --- | --- | | 上市法國名稱: | 新秀麗集團有限公司 | | 日期 (日 / 月 / 年): | 07/07/2025 - 07/08/2025 | | 最格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 賣出或涉及的 每股的平均價 | | | 持有權益的股份數目 佔已發行的有關事件的日 相關法 | | | --- | --- | --- | --- | --- | --- | | | 股份题目 | | | 做 * 标上 配 * 唯一 | 五十三届老龄明(日) | | | | | | | 17 ...

Group 1 - The core index of the CSI Hong Kong Stock Connect Textile, Apparel, and Jewelry Composite Index is reported at 1922.06 points, with a recent one-month decline of 4.00%, a three-month increase of 9.13%, and a year-to-date increase of 13.10% [1] - The index is compiled based on the classification standards of the CSI industry, reflecting the overall performance of different industry securities within the Hong Kong Stock Connect [1] - The top ten weighted stocks in the index include Li Ning (15.18%), Shenzhou International (15.11%), Anta Sports (14.03%), Lao Pu Gold (12.04%), Chow Tai Fook (9.28%), Samsonite (7.96%), Bosideng (7.29%), Jiu Xing Holdings (3.71%), Yue Yuen Industrial (3.57%), and Xtep International (3.4%) [1] Group 2 - The industry composition of the index shows that apparel accounts for 57.20%, jewelry and luxury goods account for 24.16%, and footwear and accessories account for 18.65% [2] - The index sample is adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - In the event of special circumstances affecting the index sample, such as delisting or mergers, the sample will be adjusted accordingly [2]

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7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: Samsonite Group S.A. 新秀麗集團有限公司 呈交日期: 2025年8月5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) | 01910 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,500,000,000 | USD | | 0.01 | USD | | 35,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 3,500,000,000 | USD | | 0.01 | USD | | 35, ...

Group 1 - The core event is the launch of the C-LITE limited edition graffiti shell suitcase by Samsonite Group on JD.com, featuring significant discounts and promotional activities [1][3] - The suitcase is a collaboration with Belgian artist Vexx, incorporating high-saturation graffiti designs into the classic shell suitcase, enhancing both practicality and style [3] - The promotional event includes various discounts, such as a price matching with JD.com's 618 sales and an additional discount of 1888 yuan on selected items [1][5] Group 2 - The C-LITE suitcase is made from innovative CURV material, making it more durable and suitable for carry-on at 20 inches [3] - The event features live streaming sessions with company executives providing practical packing tips and showcasing various travel scenarios [3] - Other highlighted products include a 20-inch Samsonite rod case priced at 999 yuan and a lightweight American Tourister case with custom silent wheels [3]

Core Viewpoint - CICC has downgraded Samsonite's revenue and net profit forecasts for 2025 and 2026 due to weak consumer sentiment amid U.S. tariff uncertainties, with target price reduced by 20% to HKD 20, indicating a 30% upside potential from the current stock price [1] Group 1: Financial Performance - Samsonite's Q1 2025 net sales were USD 797 million, a 4.5% year-on-year decline at constant exchange rates; adjusted EBITDA was USD 128 million with a margin of 16.0%, down from 18.8% in the same period last year; adjusted net profit was USD 52 million, compared to USD 87 million last year [2] - Sales and profit margins fell short of expectations primarily due to underperformance in Asia and misalignment of wholesale orders in North America, although stable European performance and cautious marketing spending mitigated some impacts [2] Group 2: Management Insights - Management noted strong performance of the Tumi brand in China and indicated that sales growth in Q2 2025 so far is similar to Q1 2025 [3] - They expect stable gross margins in Q2 2025, with slight improvement in adjusted EBITDA margins; no significant pre-stocking behavior was observed in the luggage industry compared to other consumer goods [3] - As of Q1 2025, 14% of products sold in the U.S. were sourced from China, with expectations to reduce this to 1%-5% by the end of 2025 due to potential tariff increases, prompting the company to implement several measures [3] Group 3: Market Outlook and Strategy - Management believes that a projected 5% growth in global passenger numbers in 2025 could indicate growth potential for luggage demand, given the historical correlation between Samsonite's sales and global travel [3] - As of Q1 2025, the company returned USD 350 million to shareholders through dividends and buybacks, resulting in a net leverage ratio of 1.8 times [3] - The company is actively pursuing a dual listing in the U.S. and is closely monitoring market conditions [3]

Core Viewpoint - Samsonite reported a decline in both revenue and net profit for Q1 2025, leading to a significant drop in stock price and market capitalization [1][3][11]. Financial Performance - The company's Q1 2025 sales revenue was $797 million, down 7.3% from $860 million in Q1 2024 [4][6]. - Net profit for Q1 2025 was $48.2 million, a decrease of 42.6% compared to $83.9 million in the same period last year [4][6]. - Operating profit fell to $110 million, down 26.9% year-over-year [4][6]. - Adjusted net income was $52 million, a reduction of 40.3% from $87 million in Q1 2024 [4][6]. - Gross margin decreased to 59.4%, down 1 percentage point from the previous year [4][6]. Cash Flow - Operating cash flow dropped significantly from $55 million to $8.5 million [5]. - Free cash flow turned negative at -$41.2 million [5]. Regional Sales Performance - Sales in Asia decreased by 9.7%, with a 7.0% decline when adjusted for constant currency, primarily due to macroeconomic uncertainties [6][8]. - North American sales fell by 8.3%, with a similar decline of 8.0% in constant currency, attributed to decreased consumer confidence [7][10]. - European sales remained flat, but grew by 4.4% in constant currency, driven by sales growth in the American Tourister and TUMI brands [8][10]. - Latin American sales declined by 10.3%, with constant currency sales remaining flat, influenced by reduced consumer confidence in Mexico [9][10]. Market Reaction - Following the earnings report, the company's stock price dropped nearly 10%, closing at 14 HKD, with a market capitalization of less than 20 billion HKD [1][11]. - Year-to-date, the stock has fallen over 35% [1]. Institutional Holdings - The company was previously a significant holding in the E Fund managed by Zhang Kun, but has since been reduced in the fund's top holdings [12][14]. - In the latest reports, Samsonite did not appear in the top ten holdings of the fund [11][14]. Analyst Ratings - Multiple financial institutions have downgraded their target prices for Samsonite, with estimates ranging from 16.3 HKD to 25.35 HKD [16][17]. - Goldman Sachs lowered its target price to 22 HKD and revised down its earnings forecast for the year [17].

Core Viewpoint - Samsonite reported a decline in financial performance for the three months ending March 31, 2025, with net sales decreasing by 7.3% year-on-year, primarily due to a drop in sales from the Asia region [2][6]. Financial Performance Summary - Net sales for the period were $796.6 million, down from $859.6 million in the same period of 2024, representing a decrease of 7.3% (4.5% decline on a constant currency basis) [2][6]. - Gross profit was $473.1 million, with a gross margin of 59.4%, down from 60.4% year-on-year, attributed to changes in the sales mix [2][6]. - Operating profit was reported at $109.5 million, a decrease of 26.9% compared to the previous year [2][6]. - Net profit for the period was $55.2 million, down 39.7% from $91.5 million in 2024 [2][6]. - Adjusted net income was $52.0 million, reflecting a 40.3% decrease year-on-year [2][6]. - Profit attributable to equity holders was $48.2 million, a decline of 42.6% compared to the same period last year [3][6]. Sales Performance Factors - The decline in net sales was influenced by reduced sales in Asia, decreased consumer confidence in North America, and timing changes in wholesale channel sales that negatively impacted the first quarter of 2025 [2][6]. - However, this decline was partially offset by growth in sales from the American Tourister and TUMI brands in Europe [2][6]. Market Reaction - As of the report date, Samsonite's stock was trading at HKD 14.14, reflecting a decline of 8.06%, with a market capitalization of HKD 20.678 billion [7].

Financial Data and Key Metrics Changes - Sales for Q1 were approximately $797 million, representing a decrease of 4.5% compared to the previous year [9][48] - Gross margin decreased slightly to 59.4% from 60.4% in the prior year [12][49] - Adjusted EBITDA was $128 million with an EBITDA margin of 16%, down from a record Q1 of the previous year [13][49] - Adjusted net income was $52 million, down from $87 million in the previous year [50] Business Line Data and Key Metrics Changes - Samsonite brand sales decreased by 2.6% when adjusted for a wholesale customer pulling orders into Q4 [11][23] - Tumi sales were down 2%, but showed growth in regions outside North America [11][23] - American Tourister sales decreased by nearly 11%, impacted by cautious buying from wholesale customers [11][23] Market Data and Key Metrics Changes - North America sales were down 8%, with a slight adjustment indicating a 5% decrease when accounting for order pull-ins [15][20] - Asia sales decreased by 7%, with a noted improvement expected in Q2 [14][17] - Europe experienced growth of 4.4% in Q1, with expectations for continued strong performance [16][22] - Latin America was flat in Q1 but is expected to return to double-digit growth in Q2 [17][22] Company Strategy and Development Direction - The company is focused on profitable, sustainable growth while maintaining cost discipline and strategic investments [8][76] - There is a strong emphasis on product innovation and development, particularly in the non-travel segment, which now accounts for 34% of sales [37][63] - The company is navigating tariff impacts by diversifying sourcing and implementing price adjustments [29][55] Management's Comments on Operating Environment and Future Outlook - Management noted a macroeconomic environment with softened consumer sentiment, particularly in North America [3][5] - Travel demand is expected to remain robust, with a projected growth of 4% to 5% for the year [6][40] - The company anticipates a similar performance in Q2 compared to Q1, with slight improvements in certain regions [70][72] Other Important Information - The company has opened 64 net new stores in the past year, maintaining flat SG&A expenses [12][56] - There is a focus on maintaining a strong balance sheet, with net debt at approximately $1.2 billion and liquidity of nearly $1.4 billion [60][66] - The company is preparing for a potential dual listing, monitoring market conditions closely [79][80] Q&A Session Summary Question: Clarification on Q2 performance expectations - Management indicated that Q2 is expected to be similar to Q1, with slight improvements in Asia and Latin America [84][86] Question: Correlation between travel trends and sales growth - Management confirmed that travel trends are expected to remain correlated with sales growth, despite current consumer sentiment challenges [87][88] Question: Pricing strategies in response to tariffs - Management stated that pricing actions are being taken to offset tariff impacts, primarily focused on the U.S. market [90][91]