Core Insights - Gao Xin Retail Co., Ltd. reported a revenue of 30.502 billion RMB for the first half of the fiscal year 2026, with a gross margin of 25.3%, an increase of 0.7 percentage points year-on-year [1] - The company has a net cash position of 11.958 billion RMB, providing strong support for business operations and strategic initiatives [1] Business Performance - The online B2C business showed steady performance, with same-store order growth of approximately 7.4%, leading to a same-store sales increase of about 2.1% [3] - The company initiated a front warehouse project, establishing a low-cost model in cities such as Shanghai, Jiangyin, Luoyang, Jinan, and Qingyuan, leveraging resources from large supermarkets to enhance fulfillment efficiency and customer acquisition [3] - Gao Xin Retail is advancing a national joint procurement model, utilizing a four-in-one management system to reduce procurement costs and optimize product hierarchy and display standardization, thereby improving overall operational efficiency [3] - The company has developed a "1+1 dual brand matrix" for its private label products, with the "Chao Sheng" series directly connecting to factories to minimize intermediaries, while "Run Fa Zhen Xuan" focuses on health and local specialties, contributing over 2% to sales in September [3] Logistics and Store Development - Significant logistics optimization has been achieved through the integration of warehousing resources and the introduction of a market-based bidding mechanism, with expected cumulative savings exceeding 100 million RMB over the next few years, enhancing supply chain resilience [3] - Store renovations are a key focus for Gao Xin Retail, with new stores in Jiangsu Kunshan and Anhui Wuwei serving as models for the next generation of large supermarkets, where fresh and processed goods account for over 30% of sales [3] - The company plans to complete over 30 store renovations in the current fiscal year and aims to renovate more than 200 stores cumulatively before the next fiscal year [3] Future Strategy - Over the next three years, Gao Xin Retail will focus on "healthy products + enjoyable experiences + attentive service," targeting families and young customers within a three-kilometer radius, to enhance both experience and efficiency in its retail model, thereby unlocking operational resilience and long-term value [4]

公告称，收入来自销售货品、会员费及来自租户的租金收入。截至2025年9月30日止6个月，来自销售货 品的收入同比减少12.4%。该减少乃主要由于市场竞争加剧及消费疲软，导致平均每笔交易的购买件数 及商品平均售价走低，继而导致平均客单价下滑;及中秋节与国庆节重叠的日历效应。 高鑫零售(06808)发布截至2025年9月30日止6个月中期业绩，该集团取得收入305.02亿元，同比减少 12.12%;公司权益股东应占亏损1.23亿元，去年同期溢利2.06亿元;每股基本亏损0.01元。 ...

Core Viewpoint - The company, Gao Xin Retail (06808), announced a mid-term dividend of HKD 0.085 per share for the six months ending September 30, 2025, to be distributed on March 24, 2026 [1] Summary by Category - **Dividend Announcement** - Gao Xin Retail will distribute a mid-term dividend of HKD 0.085 per share [1] - The dividend pertains to the six-month period ending September 30, 2025 [1] - The payment date for the dividend is set for March 24, 2026 [1]

截至2025年9月30日止六个月，经营溢利为人民币2.71亿元，较截至2024年9月30日止同期的人民币6.21 亿元减少人民币3.50亿元，减幅为56.4%。该减少乃归因于(i)货品销售收入压力及租金收入下降；(ii)利 息收入及按公允价值计入损益的金融资产收益减少；及(iii)优化华中地区组织架构所产生的影响。费用 节约较大层面抵销了收入下降的影响。 截至2025年9月30日止六个月的经营溢利率为0.9%，较截至2024年9月30日止同期的1.8%减少0.9个百分 点。 格隆汇11月11日丨高鑫零售(06808.HK)宣布集团截至2025年9月30日止六个月的未经审核综合中期业 绩。营收约为人民币305亿元，同比下降12.1%。净亏损1.23亿元，基本每股亏损0.01元。 截至2025年9月30日止六个月，来自销售货品的收入为人民币290.81亿元，较截至2024年9月30日止同期 的人民币331.86亿元减少人民币41.05亿元，减幅为12.4%。该减少乃主要由用于(i)市场竞争加剧及消费 疲软，导致平均每笔交易的购买件数及商品平均售价走低，继而导致平均客单价下滑；及(ii)中秋节与 国庆节重叠的日历效 ...

第 2 頁 共 2 頁 v 1.1.1 EF002 | | 1712-1716室 | | --- | --- | | | 香港 | | 代扣所得稅信息 | | | 股息所涉及的代扣所得稅 | 不適用 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公告日期，本公司董事為： | | | 執行董事： | | | 沈輝（首席執行官） | | | 非執行董事： 華裕能（主席） | | | 王冠男 梅夢雪 | | | 獨立非執行董事： | | | 張挹芬 | | | 陳尚偉 | | | 葉禮德 | | 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。 | | | | 股票發行人現金股息（可選擇貨幣）公告 | | 發行人名稱 | 高鑫零售有限公司 | | 股份代號 | ...

Financial Performance - Revenue for the six months ended September 30, 2025, was RMB 30,502 million, a decrease of 12.1% compared to RMB 34,708 million in the same period of 2024[3] - Gross profit for the same period was RMB 7,719 million, down 9.5% from RMB 8,526 million year-on-year[3] - Operating profit decreased significantly by 56.4% to RMB 271 million from RMB 621 million in the previous year[3] - The company reported a loss of RMB 127 million for the period, compared to a profit of RMB 186 million in the same period last year[3] - Total revenue for the six months ended September 30, 2025, was RMB 30,502 million, a decrease of 12.6% from RMB 34,708 million in the same period of 2024[21] - Revenue from customer contracts under HKFRS 15 was RMB 29,099 million, down from RMB 33,200 million, with a significant drop of 12.3% in point-in-time recognition revenue[21] - Rental income from tenants was RMB 1,403 million, a decrease of 6.9% compared to RMB 1,508 million in the previous year[22] - Interest income from financial assets measured at amortized cost was RMB 153 million, down 26.1% from RMB 207 million[22] - Pre-tax profit before deducting financial expenses was RMB 174 million, a decrease of 17.5% from RMB 211 million in the previous year[23] - Employee costs totaled RMB 3,788 million, down 7.8% from RMB 4,106 million in the same period last year[24] - Other income and net gains for the six months ended September 30, 2025, were RMB 0.566 billion, a decrease of RMB 0.055 billion or 8.9% from RMB 0.621 billion for the same period in 2024[56] Assets and Liabilities - Total assets as of September 30, 2025, were RMB 53,635 million, a decline of 4.2% from RMB 55,973 million as of March 31, 2025[3] - Net cash balance was RMB 11,958 million, down 4.6% from RMB 12,529 million[3] - Total liabilities stood at RMB 35,402 million, a slight decrease of 0.4% from RMB 35,545 million[3] - The company's equity attributable to shareholders decreased to RMB 18,246 million, down 10.7% from RMB 20,094 million[7] - Trade receivables, net of impairment provisions, decreased to RMB 392 million as of September 30, 2025, from RMB 496 million as of March 31, 2025, reflecting a decline of approximately 21%[41] - Total trade and other receivables amounted to RMB 1,748 million as of September 30, 2025, down from RMB 2,290 million as of March 31, 2025, indicating a decrease of about 23.7%[41] - The company reported a total of RMB 10,230 million in trade payables as of September 30, 2025, up from RMB 9,832 million as of March 31, 2025, representing an increase of approximately 4%[48] - The bank loans due within one year amounted to RMB 1,246 million as of September 30, 2025, compared to RMB 1,491 million as of March 31, 2025, reflecting a decrease of about 16.5%[50] - Lease liabilities as of September 30, 2025, were RMB 5,952 million, compared to RMB 5,833 million as of March 31, 2025, showing a slight increase[50] Cash Flow - Operating cash flow for the period was RMB 1,323 million, a significant improvement from a cash outflow of RMB 641 million in the previous year[9] - The company reported a net cash inflow from investment activities of RMB 1,980 million, compared to a cash outflow of RMB 2,125 million in the prior year[11] - Cash and cash equivalents increased by RMB 1,043 million, recovering from a decrease of RMB 2,406 million in the previous period[13] - Net cash inflow from operating activities for the six months ended September 30, 2025, was RMB 1.323 billion, an increase of RMB 1.964 billion compared to a net cash outflow of RMB 641 million for the same period in 2024[65] - Net cash outflow from financing activities for the six months ended September 30, 2025, was RMB 2.260 billion, a decrease of RMB 2.620 billion compared to a net cash inflow of RMB 360 million for the same period in 2024[69] Strategic Initiatives - The company's three-year strategy focuses on a retail model that emphasizes health products, enjoyable experiences, and attentive service to meet the needs of families and young consumers[74] - The company aims to enhance its supply chain efficiency and product differentiation through a dual-brand strategy and by optimizing store formats to transform them into community life centers[74] - The company plans to establish a dedicated transformation team to oversee the execution of its three-year strategy and improve team effectiveness through optimized incentive schemes[74] - The "1+1 dual brand matrix" strategy has launched over 500 products across more than 50 categories, achieving a sales growth of over 50% year-on-year, contributing over 2% to overall performance[77] - The logistics optimization has established a core storage matrix of 13 ambient warehouses and 25 cold chain warehouses, with an expected cumulative cost saving of over RMB 100 million in the coming years[78] - The company plans to complete over 30 store renovations this fiscal year and over 200 by the next fiscal year, with renovated stores showing double-digit growth in customer traffic[79] - The company aims to increase the online sales proportion to 40%-50% in the next three years[81] Employee and Governance - As of September 30, 2025, the group had 81,954 employees, down from 85,778 employees as of September 30, 2024[85] - Total employee benefits expenditure amounted to RMB 3,788 million, compared to RMB 4,106 million for the same period in 2024[85] - The company has adopted a stock option plan and a revised employee trust benefit plan to attract and retain high-quality talent[85] - The board is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[88] - The audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended September 30, 2025[90] - The company has confirmed compliance with the corporate governance code as of September 30, 2025[91] Dividend Information - The company declared an interim dividend of HKD 0.085 per share for the six months ended September 30, 2025, amounting to approximately HKD 811 million[18] - The interim dividend details will be included in the announcement section titled "Dividends"[99] - The expected payment date for the interim dividend is March 24, 2026, which is a change from the previous payment date in January 2025[94] - The record date for the proposed interim dividend is set for November 27, 2025[97] - The interim results announcement for the six months ending September 30, 2025, will be published on the Hong Kong Stock Exchange website and the company's website[98]

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10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: | 高鑫零售有限公司 | | | 呈交日期: | 2025年11月6日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 (A). 股份期權（根據發行人的股份期權計劃） | 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) | 06808 | 說明 | | | | | | | | | | 股份期權計劃詳情 | 上月底結存的股份期權數 目 | 本月內變動 | | 本月底結存的股份期權數 目 | | 本月內因此發行的新股數 目 (A1) | 本月内因此自庫存轉讓的 庫存股 ...

Group 1 - The company announced that Ms. He Xingyu will resign as the company secretary and authorized representative effective from October 27, 2025 [1] - Ms. Wang Ruoyu has been appointed as the new company secretary and authorized representative, effective from October 27, 2025 [1]

Group 1 - The company announced that He Xingyu will resign as the company secretary and authorized representative effective from October 27, 2025 [1] - The board has appointed Wang Ruoyu as the new company secretary and authorized representative, effective from October 27, 2025 [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。 SUN ART RETAIL GROUP LIMITED 高鑫零售有限公司 （於香港註冊成立的有限公司） （股份代號：06808） 公司秘書 及授權代表變更 董事會亦宣佈委任王若禹女士（「王女士」）出任本公司的公司秘書及授權代表，自 二零二五年十月二十七日起生效。王女士的個人履歷詳情如下： 王女士自二零二五年十月加入本公司。彼為香港公司治理公會之特許秘書、公司 治理師及會員。王女士持有上海財經大學法學學士學位及香港中文大學法律碩士 學位，以及中華人民共和國法律職業資格證書。加入本公司前，王女士曾任職於 金融機構及聯交所上市公司，具備合規、公司秘書領域經驗。 1 本公司僅此感謝何女士於任內對本公司所作的寶貴貢獻，並歡迎王女士接受新任 命。 承董事會命 高鑫零售有限公司 高鑫零售有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，何幸諭女 士（「何女士」）已自二零二五年十月二十七日起辭任本公司的 ...