Group 1 - The company Gao Xin Retail (06808) announced the resignation of Mr. Wang Guan as a non-executive director and member of the nomination committee, effective from January 6, 2026 [1] - Mr. Liu Hao has been appointed as a non-executive director and member of the nomination committee, also effective from January 6, 2026 [1]

格隆汇1月6日丨高鑫零售(06808.HK)宣布：(1)由2026年1月6日起，王冠男辞任公司非执行董事及提名 委员会成员之职；及(2)由2026年1月6日起，刘昊获委任为公司非执行董事及提名委员会成员。 ...

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） 有關 (1)非執行董事變更；及 (2)提名委員會成員變更的公告 高鑫零售有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事（「董事」） 會（「董事會」）宣佈： 董事會謹藉此機會感謝王女士於任期內對本集團作出的寶貴貢獻。 委任非執行董事及提名委員會成員 董事會謹此宣佈，劉昊先生（「劉先生」）獲委任為本公司非執行董事及提名委員會 成員，由二零二六年一月六日起生效。劉先生的履歷詳情如下： 1 (1) 由二零二六年一月六日起，王冠男女士辭任本公司非執行董事及提名委員 會成員之職；及 (2) 由二零二六年一月六日起，劉昊先生獲委任為本公司非執行董事及提名委 員會成員。 劉先生，38歲，擔任DCP Capital資深董事，負責消費零售、農業和新能源項目的 投後管理工作。於加入D ...

Core Viewpoint - The ongoing transformation of Gao Xin Retail, the parent company of RT-Mart, is marked by significant leadership changes and strategic shifts aimed at revitalizing the business and addressing declining performance metrics [3][4][9]. Leadership Changes - On November 30, Gao Xin Retail announced the resignation of CEO Shen Hui due to personal reasons, with Li Weiping appointed as the new CEO effective December 1, 2025. Li brings over 20 years of retail management experience, having previously held key positions at Hema and Lotte Supermarket [3][4]. - Li Weiping's appointment is seen as a strategic move, with a three-year service agreement and a fixed annual salary of 3.36 million yuan, reflecting the company's trust in her capabilities [3][4]. Organizational Restructuring - Since the acquisition by Dehong Capital in February 2025, Gao Xin Retail has undergone significant organizational changes, including a reduction in operational divisions from five to four and a focus on anti-corruption measures within the company [4][5]. - The company has initiated a product system overhaul, eliminating homogenized products and accelerating the development of private labels [4][5]. Strategic Initiatives - Gao Xin Retail has launched a "three-year strategy" aimed at enhancing product differentiation, improving supply chain efficiency, and transforming store formats to better serve community needs [5][6]. - The company has begun establishing front warehouses in several cities to improve logistics efficiency and reduce delivery times, while also closing underperforming stores and converting some into membership-based formats [5][6]. Financial Performance - Gao Xin Retail has faced declining revenues, with a reported 12.4% decrease in product sales revenue for the first half of the 2026 fiscal year compared to the previous year, attributed to increased market competition and consumer fatigue [14]. - The company has also seen a drop in same-store sales growth, with a reported decline of 11.7%, although online B2C sales have shown some growth [14][15]. Challenges Ahead - The company must navigate internal resistance to change and the competitive landscape, particularly in the areas of private label development and supply chain management, to achieve its strategic goals [7][16]. - Li Weiping's leadership will be critical in addressing these challenges and ensuring the successful execution of the company's transformation strategy [8][16].

Core Viewpoint - The transition of leadership at Gao Xin Retail, following Alibaba's divestment, marks a significant shift in strategy towards efficiency and product development, with a focus on transforming into a brand with research and development capabilities similar to Hema and Costco [1][2][3] Group 1: Leadership Changes - Gao Xin Retail announced the resignation of its CEO Shen Hui, effective December 1, with Li Weiping, former Chief Merchandise Officer at Hema, taking over [1][10] - Li Weiping has a strong background in retail management, having previously held key positions at Hema and other major retailers, indicating a strategic shift towards efficiency [1][10] Group 2: Alibaba's Investment and Divestment - Alibaba initially acquired a 36.16% stake in Gao Xin Retail for approximately HKD 224.25 billion, marking a high point for the company with revenues exceeding HKD 100 billion for three consecutive years [2][11] - Following a decline in performance, Alibaba announced the divestment of its stake in Gao Xin Retail, selling approximately 78.7% of its shares for up to HKD 131.38 billion, resulting in a significant financial loss for Alibaba [3][12] Group 3: Performance Decline - Gao Xin Retail's revenue fell to HKD 725.67 billion with a cumulative net loss of HKD 22.35 billion from FY2022 to FY2024, and the company's stock price dropped by 77.8% from its peak [3][12] - The company reported a revenue of HKD 715.52 billion for FY2025, a slight decrease of 1.4%, but managed to achieve a net profit of HKD 4.05 billion, primarily through cost-cutting measures [6][15] Group 4: Strategic Changes Under Dehong Capital - Dehong Capital has implemented significant changes in Gao Xin Retail's management and operational structure, aiming to enhance asset value and transform the company into a more competitive retail platform [4][13] - The restructuring includes reducing the number of operational zones and focusing on developing private label products, indicating a shift towards a more innovative retail model [5][14] Group 5: Financial Challenges and Future Outlook - Despite a temporary profit, Gao Xin Retail faces ongoing challenges with declining same-store sales and customer spending, leading to concerns about long-term sustainability [6][16] - The company’s cash flow situation remains precarious, with a downward trend in cash reserves, highlighting the need for continued financial support from Dehong Capital [7][17] - New business initiatives, such as membership programs and private label products, are still in their infancy, contributing minimally to overall revenue [8][17]

Group 1 - Gao Xin Retail (06808) shares rose over 3%, currently up 3.57% at HKD 1.74, with a trading volume of HKD 5.3693 million [1] - Recently, Gao Xin Retail announced that Li Weiping will serve as the Executive Director and CEO, while Shen Hui resigned from these positions due to family reasons, effective December 1, 2025 [1] - Li Weiping has 26 years of experience in the retail industry, having joined Hema in 2018 and held key positions such as General Manager of North China Beijing Region, CEO of Hema Fresh, and Chief Merchandising Officer [1] Group 2 - UBS expressed optimism regarding Gao Xin Retail's transformation plan but remains cautious about the short-term outlook due to intense competition in delivery platforms and the need for offline food retail upgrades [1] - UBS noted that management aims to reduce SKU numbers, shrink store sizes, and accelerate new product launches, which could enhance the product strength of RT-Mart [1] - The management's goal is to increase the sales proportion of private label products from the current 3% to 10% within three years, and eventually reach 20% in the long term [1]

Group 1 - Gao Xin Retail (06808) saw a morning increase of over 3%, with the stock price rising by 3.57% to HKD 1.74 and a trading volume of HKD 7.7993 million [1] - The company announced that Li Weiping will take over as Executive Director and CEO, effective December 1, 2025, following the resignation of Shen Hui due to family reasons [1] - Li Weiping has 26 years of experience in the retail industry and has held significant positions at Hema, including General Manager of North China and CEO of Hema Fresh [1] Group 2 - UBS expressed optimism about Gao Xin Retail's transformation plan but remains cautious about the short-term outlook due to intense competition in delivery platforms and the need for offline food retail upgrades [1] - The management aims to reduce SKU numbers, shrink store sizes, and accelerate new product launches, which could enhance the product strength of RT-Mart [1] - The goal is to increase the sales proportion of private label products from the current 3% to 10% within three years, and eventually reach 20% in the long term [1]

Group 1 - Gao Xin Retail (06808) saw a stock increase of over 3%, specifically 3.57%, reaching HKD 1.74 with a trading volume of HKD 5.3693 million [1] - The company announced that Li Weiping will take over as Executive Director and CEO, effective December 1, 2025, following the resignation of Shen Hui due to family reasons [1] - Li Weiping has 26 years of experience in the retail industry and has held significant positions at Hema, including CEO and Chief Merchandising Officer [1] Group 2 - UBS expressed optimism regarding Gao Xin Retail's transformation plan but remains cautious about the short-term outlook due to intense competition in delivery platforms and the need for offline food retail upgrades [1] - The management aims to reduce SKU numbers, decrease store sizes, and accelerate new product launches, which could enhance the product strength of RT-Mart [1] - The goal is to increase the sales proportion of private label products from the current 3% to 10% within three years, and eventually to 20% in the long term [1]

Group 1 - Gao Xin Retail (06808) saw a stock increase of over 3%, currently up 3.57% at HKD 1.74, with a trading volume of HKD 5.3693 million [1] - Recently, Gao Xin Retail announced that Li Weiping will take over as Executive Director and CEO, effective December 1, 2025, following Shen Hui's resignation due to family reasons [1] - Li Weiping has 26 years of experience in the retail industry and has held significant positions at Hema, including CEO and Chief Merchandising Officer [1] Group 2 - UBS expressed an optimistic view on Gao Xin Retail's transformation plan but remains cautious about the short-term outlook due to intense competition in delivery platforms and the need for offline food retail upgrades [1] - The management aims to reduce SKU numbers, decrease store sizes, and accelerate new product launches to enhance the product strength of RT-Mart [1] - The goal is to increase the sales proportion of private label products from the current 3% to 10% within three years, and eventually reach 20% in the long term [1]

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：6808) As a non-registered shareholder, if you wish to receive Corporate Communications* in electronic form pursuant to the Listing Rules, yo u should liaise with your bank(s), broker(s), custodian(s), nominee(s) or HKSCC Nominees Limited through which your shares in the Company are held (collectively, the "Intermediaries") and provide your email address to your Intermediaries. If the Comp ...