Core Insights - Gao Xin Retail reported a preliminary net loss of approximately RMB 110 million to RMB 140 million for the first half of the year, compared to a net profit of RMB 186 million and a profit attributable to shareholders of RMB 206 million in the same period last year [1] Financial Performance - The company's net loss for the first half of the year is estimated to be between RMB 110 million and RMB 140 million [1] - In contrast, the previous year's net profit was RMB 186 million, indicating a significant decline in financial performance [1] - The profit attributable to the company's shareholders was RMB 206 million last year, further highlighting the downturn [1]

Core Viewpoint - The company anticipates a net loss of approximately RMB 110 million to RMB 140 million for the six months ending September 30, 2025, compared to a net profit of RMB 186 million in the same period last year, primarily due to increased market competition and weak consumer demand [1] Group 1: Financial Performance - The expected net loss is attributed to a decline in revenue caused by intensified market competition and weak consumer spending, leading to a decrease in average transaction value and sales volume [1] - The company reported a significant drop in revenue, with a double-digit year-on-year decline influenced by the combined impact of the Mid-Autumn Festival and National Day [1] - Despite the pressure on net profit, the company's net cash position remains better than the same period last year [1] Group 2: Operational Strategy - The online B2C business continues to achieve low single-digit positive growth, demonstrating the company's operational resilience and advantages in online operations [2] - The company is steadily advancing its three-year strategic plan, focusing on enhancing product strength, optimizing supply chain efficiency, adjusting existing stores, creating community living centers, expanding new stores, and piloting front warehouse models [2] - The company aims to deepen strategic execution and drive gradual recovery in operational performance [2]

SUN ART RETAIL GROUP LIMITED 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。 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) 盈利預警 本公告乃由高鑫零售有限公司（「本公司」，連同其附屬公司，統稱為「本集團」）根 據《香港聯合交易所有限公司證券上市規則》（「《上市規則》」）第13.09(2)條及《證 券及期貨條例》（香港法例第571章）第XIVA部的內幕消息條文（定義見《上市規 則》）刊發。 本公司董事會（「董事會」）謹此通知本公司股東（「股東」）及潛在投資者，根據本 集團截至二零二五年九月三十日止六個月未經審核綜合管理帳目之初步審閱，預 期於有關期間內，按照香港財務報告準則計算本集團錄得淨虧損及本公司擁有人 應佔虧損同為約人民幣1.1億元至人民幣1.4億元（未經審計），而去年同期淨利潤 及歸屬於本公司擁有人應佔溢利分別為人民幣1.86億元及人民幣2.06億元。 預期淨虧損及本公司擁有人應佔虧損主 ...

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。 承董事會命 高鑫零售有限公司 執行董事兼首席執行官 沈輝 香港，二零二五年十月二十日 於本公告日期，本公司董事為： 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） 董事會召開日期 高鑫零售有限公司（「本公司」）董事會（「董事會」）茲通告謹定於二零二五年十一 月十一日（星期二）舉行董事會會議，其目的如下： 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 (i) 考慮及批准本公司及其附屬公司截至二零二五年九月三十日止六個月之中期 業績及其發佈，及； (ii) 考慮派發中期股息之建議（如有），以及； (iii) 處理其他事項。 ...

Core Viewpoint - Macquarie has published a report predicting that Gao Xin Retail's same-store sales will decline in the high single digits year-on-year for the fiscal year 2026, reflecting the impact of substantial delivery subsidies in real-time retail [1] Financial Performance - Gross margin is under pressure from discounting, although private label brands provide some assistance, their contribution is not significant [1] - Macquarie has reduced its earnings per share forecasts for Gao Xin Retail for the fiscal years 2026 and 2027 by 69% and 39% respectively, reflecting a substantial downward adjustment in the same-store sales forecast for fiscal year 2026 and the impact of operating leverage [1] Rating and Target Price - The rating for Gao Xin Retail has been downgraded to "Neutral," with the target price reduced from HKD 2.9 to HKD 1.7 [1]

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9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10月8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 | | | | | | | | | | 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 庫存股份數目 (A ...

麦格理发布研报称，料高鑫零售(06808)2026财年同店销售同比跌高单位数，以反映即时零售的大量运 送补贴所影响。毛利率受到折扣压力，自有品牌有帮助，但贡献不显著。该行将高鑫零售2026和2027财 年每股盈利预测分别下调69%及39%，反映对2026财年同店销售预测的大幅下调，以及营运杠杆的影 响；下调评级至"中性"，目标价由2.9港元降至1.7港元。 ...

智通财经APP获悉，麦格理发布研报称，料高鑫零售(06808)2026财年同店销售同比跌高单位数，以反映 即时零售的大量运送补贴所影响。毛利率受到折扣压力，自有品牌有帮助，但贡献不显著。该行将高鑫 零售2026和2027财年每股盈利预测分别下调69%及39%，反映对2026财年同店销售预测的大幅下调，以 及营运杠杆的影响；下调评级至"中性"，目标价由2.9港元降至1.7港元。 ...

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 （於香港註冊成立之有限公司） 茲提述本公司日期為二零二四年十月二十三日的通函，內容有關先前修訂本公司 附屬公司為歐尚（中國）投資集團及康成投資（中國）集團的僱員設立的員工信託受 益計劃。有關歐尚計劃及大潤發計劃的詳情載於本公司日期為二零二四年十月二 十三日的通函。 歐尚計劃及大潤發計劃的目的為(i)透過持有信託單位所代表歐尚（中國）投資注冊 資本及康成投資（中國）注冊資本的所有權及╱或信託單位╱歐尚（中國）投資注 冊資本或康成投資（中國）注冊資本（視情況而定）的價值增長，使合資格參與者的 利益與本集團的利益一致，並分享歐尚（中國）投資集團及康成投資（中國）集團 業務增長的成就和利益；(ii)鼓勵及留任合資格參與者為本集團的長期增長和利潤 做出貢獻；(iii)認可及獎勵合資格參與者以往的寶貴貢獻；及(iv)留任有經驗的人 員。 建 ...

Group 1 - Gao Xin Retail (06808) experienced a decline of over 4%, trading at HKD 1.89 with a transaction volume of HKD 17.07 million [1] - The company responded to rumors regarding the arrest of its Chief Operating Officer, Guan Mingwu, stating that the case is under investigation and will follow the information released by law enforcement [1] - Gao Xin Retail emphasizes its commitment to legal and compliant operations, maintaining a zero-tolerance policy towards illegal activities [1] Group 2 - Alibaba announced plans to sell its approximately 78.7% stake in Gao Xin Retail to Dehong Capital by January 2025, marking its complete exit from the company [1] - Following Dehong Capital's acquisition, significant management changes occurred, including the departure of Alibaba personnel and the resignation of founder Huang Mingduan as chairman [1] - The organizational structure was reformed, consolidating five operational regions into four: East China, South China, North China, and Northeast China [1] Group 3 - The company has closed underperforming stores with negative cash flow and optimized its workforce structure [1] - For the fiscal year 2025, sales and marketing expenses decreased by HKD 2.946 billion to HKD 15.232 billion, while administrative expenses fell by 24.1% to HKD 1.709 billion [1] - Gao Xin Retail is also advancing its product strategy adjustments [1]