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。 SUN ART RETAIL GROUP LIMITED 高鑫零售有限公司 （於香港註冊成立之有限公司） （股份代號：06808） 二零二五年十二月四日下午五時正 舉行之股東特別大會的表決結果 茲提述高鑫零售有限公司（「本公司」）日期為二零二五年十一月十四日的通函（「通 函」），其中包括本公司於二零二五年十二月四日下午五時正舉行的股東特別大會 （「股東特別大會」）通告（「通告」）。除文義另有所指外，本公告所用詞彙與通函所 界定者具有相同涵義。 於股東特別大會當日，已發行股份總數為9,540,504,700股，即賦予股份持有人權 利以出席股東特別大會並於會上對普通決議案投票的股份總數。本公司概無持有 庫存股份（包括由香港中央結算有限公司設立並營運的中央結算及交收系統持有 或寄存的任何庫存股份），因此概無庫存股份的投票權於股東特別大會上獲行使。 概無股份賦予股份持有人權利以出席股東特別大會但須根據《香港聯合 ...

+ CCS3638 SARH THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION 此乃要件 請即處理 If you are in any doubt as to any aspect of this document or as to the action to be taken, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser. SUN ART RETAIL GROUP LIMITED 高鑫零售有限公司 (Incorporated in Hong Kong with limited liability) (於香港註冊成立之有限公司) (Stock Code 股份代號：06808) DIVIDEND CURRENCY ELECTION FORM FOR THE INTER ...

瑞银发布研报称，对高鑫零售(06808)转型计划持乐观态度，但由于外送平台的激烈市场竞争，线下食 品零售门市的转型升级，该行对短期前景仍持谨慎态度。维持该股目标价2.4港元，评级为"买入"。该 行相信，透过管理层减少SKU数量、缩小门市面积，加速新品上市的计划，大润发的产品实力有望提 升。管理层的目标是将自有品牌产品的销售占比从目前的3%提升至三年内的10%，并在长期内达到 20%。 ...

智通财经APP获悉，瑞银发布研报称，对高鑫零售(06808)转型计划持乐观态度，但由于外送平台的激烈 市场竞争，线下食品零售门市的转型升级，该行对短期前景仍持谨慎态度。维持该股目标价2.4港元， 评级为"买入"。该行相信，透过管理层减少SKU数量、缩小门市面积，加速新品上市的计划，大润发的 产品实力有望提升。管理层的目标是将自有品牌产品的销售占比从目前的3%提升至三年内的10%，并 在长期内达到20%。 ...

NO.2 82岁爱马仕继承人被骗150亿美元细节曝光 近日，爱马仕第五代继承人尼古拉·皮埃什被骗150亿美元的惊人案件细节逐渐浮出水面。他公开指控 称，自己曾拥有的大量爱马仕股份已经"蒸发"，而他曾信任了长达25年的财富管理人埃里克·弗雷蒙德 是幕后"玩弄阴谋诡计"的罪魁祸首。 点评：对奢侈品板块，此案暴露了超高端财富管理中的信任风险与监管漏洞，将推动行业头部企业强化 股权锁定与内控机制。对于股市整体而言，这一极端案例为高净值人群资产配置敲响警钟，也让市场更 重视上市公司股权结构透明度与委托理财风险管控。 NO.3 美可卓蓝胖子回应假奶粉事件 近期，部分网上直播间及非正规渠道销售的"蓝胖子"奶粉涉嫌假冒伪劣，"假奶粉奶精加淀粉"相关话题 引发社会关注。12月1日，据报道，美可卓专卖店店铺工作人员对假奶粉报道回应称，Maxigenes美可卓 蓝胖子奶粉是100%澳大利亚原装进口的正规产品。为了确保消费者购买到100%正品，强烈建议通过美 可卓官方授权的渠道购买，并认准美可卓品牌。 ｜2025年12月2日星期二｜ NO.1惠氏营养品和雀巢婴儿营养品在中国市场将迎来合并 12月1日，据报道，根据最新安排，在大中华区 ...

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: | 高鑫零售有限公司 | | | 呈交日期: | 2025年12月2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 II. 已發行股份及/或庫存股份變動 | 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) | 06808 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 9,540,504,700 | | 0 | | 9,540,504,700 | | 增加 / 減少 (-) | | | 0 | ...

Core Viewpoint - The appointment of Li Weiping as the new CEO of Gao Xin Retail marks a significant management change under the new controlling shareholder, Dehong Capital, indicating a new phase of strategic transformation for the company [1][4]. Management Change - Li Weiping, with over 20 years of retail experience, has signed a three-year service agreement with Gao Xin Retail, receiving an annual salary of 3.36 million yuan [2]. - Li previously worked at Hema for over seven years, where she held various leadership roles and was known for her strong execution style and regional operational experience [2][3]. Strategic Transformation - Gao Xin Retail has introduced a three-year strategy focusing on "healthy products + joyful experiences + thoughtful services," aiming to transform stores into community life centers through a multi-format approach [3][5]. - The company has faced significant financial challenges, with a net loss of 1.23 billion yuan reported for the six months ending September 30, 2025, alongside a 12.1% decrease in revenue [4][5]. Operational Adjustments - The company has initiated a front warehouse project to enhance delivery efficiency and has established front warehouses in five locations, with plans to increase online sales contribution to 40-50% over the next three years [5][6]. - Gao Xin Retail is actively promoting store renovations, with plans to complete over 200 store adjustments by the next fiscal year, focusing on product differentiation and enhancing private label offerings [6].

Group 1 - Gao Xin Retail announced a leadership change with Li Weiping replacing Shen Hui as CEO effective December 1, 2025, due to personal reasons [1] - Hema's former CEO Hou Yi launched a live-streaming sales platform called "Lao Cai Rui Xuan," featuring various product categories including baked goods and seafood [2] - JD Fresh signed a strategic cooperation agreement with the government of Ningde to upgrade the large yellow croaker industry, aiming for a market scale exceeding 20 billion yuan by 2024 [5] Group 2 - Alibaba's 1688 platform launched the "Xun Yuan China" supply chain project in Chongqing, collaborating with a leading hot pot base company to introduce new products [7] - Taobao Flash Sale introduced two new products, "Health Card" and "AI Find Medicine," enhancing its health service offerings [9] - Pop Mart opened its largest flagship store in Shanghai, featuring a wide range of popular collectible toys [10] Group 3 - Wushang Group's subsidiary plans to acquire a majority stake in Hangzhou Xiaodian Technology, with a two-step acquisition process [10] - Babi Xiaolongbao opened its first store in South China, achieving nearly 18,000 yuan in sales on the opening day, setting a record for new store openings [10] - SF Express launched an industry-first "Overtime Compensation" service in ten cities, promising cash compensation for delivery delays caused by the company [11] Group 4 - "What Worth Buying" reported a 70.84% year-on-year increase in GMV for autumn travel-related products, driven by a recent holiday [20] - Pinduoduo launched a public welfare section for fire safety products in Hong Kong, offering significant subsidies [15] - Meituan's CEO Wang Xing stated that the ongoing price war in the food delivery sector is unsustainable and does not create industry value [20] Group 5 - China's express delivery volume surpassed 180 billion pieces for the first time, setting a new historical record [20] - Estée Lauder is considering selling its Korean beauty brand Dr.Jart+ as part of a broader product portfolio optimization strategy [21] - Aeon opened its 23rd shopping center in China, further expanding its retail presence [21] Group 6 - The plant-based meat company, Beyond Meat, closed its Tmall flagship store, ceasing its operations in China [22] - Lin Qingxuan received approval for its Hong Kong IPO, aiming to become the first high-end domestic skincare brand listed in Hong Kong [22][23] - Lin Qingxuan's revenue grew from 691 million yuan to 1.21 billion yuan, with a compound annual growth rate of 32.3% [23]

Core Viewpoint - Gao Xin Retail, the parent company of RT-Mart, is undergoing a leadership change with Li Weiping taking over as CEO from Shen Hui, amid ongoing financial losses and strategic shifts in the retail sector [1][2][5]. Group 1: Leadership Change - Li Weiping, previously a senior executive at Hema, officially became the CEO of Gao Xin Retail on December 1, following Shen Hui's resignation due to family reasons [2][5]. - Shen Hui's tenure lasted less than two years, during which he aimed to enhance the company's retail fundamentals and competitive pricing [5][6]. - Li Weiping has extensive experience in the retail industry, having worked for 26 years, including significant roles at Hema and Lotte Supermarket [5][6]. Group 2: Financial Performance - Gao Xin Retail reported a net loss of 1.23 billion yuan for the six months ending September 30, 2025, a reversal from a profit of 2.06 billion yuan in the same period last year [1][9]. - The company's revenue for the same period was 30.502 billion yuan, down 12.12% year-on-year [9][10]. - The financial struggles have been ongoing, with the company experiencing a net loss of 16.05 billion yuan in the 2023/2024 fiscal year, following a brief profit in the previous year [9]. Group 3: Strategic Direction - The leadership change comes at a critical time as Gao Xin Retail seeks to implement a three-year strategic transformation plan, focusing on product differentiation and supply chain efficiency [7][8]. - The company plans to complete over 30 store renovations this fiscal year and aims to increase online sales to 40%-50% of total revenue in the next three years [10]. - Analysts suggest that the company needs to invest more in private label and customized products to adapt to the competitive landscape of traditional supermarkets facing challenges from e-commerce and discount formats [10].

Core Viewpoint - The appointment of Li Weiping, a veteran from Alibaba's ecosystem, as the new CEO of Gao Xin Retail is seen as a strategic move to reverse the company's declining performance and accelerate its transformation into new retail [2][3][14]. Company Overview - Gao Xin Retail operates a retail business with large hypermarkets and multi-channel e-commerce, managing brands such as "RT-Mart," "RT-Mart Super," and "M Membership Store" [4]. - The company has faced significant challenges, including a 13.26% year-on-year revenue decline to 72.57 billion yuan for the fiscal year 2024, marking three consecutive years of revenue drop [7]. Leadership Change - Former CEO Shen Hui resigned due to family matters, and Li Weiping took over as CEO effective December 1 [2][3]. - Shen Hui's tenure lasted just over a year, during which he attempted to restore the company's retail fundamentals but faced declining revenues and profits [7][9]. Financial Performance - Under Shen Hui, Gao Xin Retail reported a net profit of 405 million yuan for the fiscal year 2025, recovering from a loss of 1.605 billion yuan the previous year, although revenue continued to decline by 1.4% to 71.55 billion yuan [7]. - The company's mid-term report for the period ending September 30, 2025, showed a further revenue decline of 12.12% to 30.5 billion yuan, with a net loss of 123 million yuan, indicating ongoing financial struggles [9][14]. New CEO Profile - Li Weiping, aged 47, has extensive experience in the retail sector, having previously served as the Chief Merchandise Officer at Hema, a subsidiary of Alibaba [11][14]. - His appointment comes at a time when Gao Xin Retail is under pressure to adapt to changing market conditions and improve its performance [14]. Strategic Context - The leadership change occurs after Gao Xin Retail's acquisition by DCP Capital, following Alibaba's divestment of its stake in the company [13][14]. - The company is currently facing challenges such as declining foot traffic in traditional hypermarkets and increased competition in the online retail space [14]. Compensation Structure - Li Weiping's compensation package is significantly lower than that of his predecessor, with a fixed annual salary of 3.36 million yuan and no director's fees, reflecting a shift in the company's approach to executive remuneration [15].