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: 特步國際控股有限公司 呈交日期: 2025年12月2日 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) | 01368 | 說明 | 不適用 | | | | | | | | 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 | | | 2,806,072,356 | | 0 | | 2,806,072,356 | | 增加 / 減少 (-) | | | | | | | | | 本月底結存 | | | 2,806,072,356 | | 0 | | 2,806,072,356 | 第 2 頁 共 10 頁 v 1.1.1 I. 法定/註冊股本變動 | 1 ...

Core Viewpoint - BlackRock has reduced its stake in Xtep International (01368) by selling 877,000 shares at a price of HKD 5.7945 per share, totaling approximately HKD 5.08178 million, resulting in a new holding of about 168 million shares, representing 5.98% of the company [1] Group 1 - BlackRock sold 877,000 shares of Xtep International on November 13 [1] - The sale price per share was HKD 5.7945, leading to a total transaction value of approximately HKD 5.08178 million [1] - After the sale, BlackRock's remaining shares in Xtep International are approximately 168 million, equating to a 5.98% ownership stake [1]

Group 1 - BlackRock reduced its stake in Xtep International (01368) by 877,000 shares at a price of HKD 5.7945 per share, totaling approximately HKD 5.08178 million [1] - After the reduction, BlackRock's latest holding amounts to approximately 168 million shares, representing a holding percentage of 5.98% [1]

Summary of Xtep International Conference Call Company Overview - **Company**: Xtep International - **Date**: November 6, 2025 Key Points Industry and Sales Performance - Xtep International's online sales continue to show strong growth, with e-commerce channels achieving double-digit growth year-to-date, particularly in the running shoe segment, supported significantly by live streaming platforms [2][3] - Sales in shopping centers and outlet channels have also performed well due to store upgrades and accelerated layout [2][3] - The Saucony brand has seen strong offline performance in China, with a growth rate exceeding 30% in Q3 and continuing double-digit growth in October [2][6] Inventory Management and Pricing Strategy - Xtep maintains a healthy inventory level of 4 to 4.5 months, allowing for stable discount rates during promotional periods, such as 30% to 25% off during Double Eleven [2][5][14] - Strict inventory management and legal actions against gray market activities have effectively reduced low-price competition [2][5][7] Saucony Brand Development - Saucony's footwear sales account for over 80% in China, with apparel sales increasing from 0% to 20%, expected to rise to 30%-40% in the future [4][9] - The average monthly sales per store for Saucony have reached over 400,000 yuan, with top-performing stores achieving 700,000 to 800,000 yuan [2][8] - Saucony plans to open 30 to 50 new stores this year, building on its current network of over 170 stores [6][8] Sales and Growth Projections - The adult running shoe segment has shown double-digit growth, with the Champion family series expected to double its sales this year [4][16][17] - Saucony aims for over 30% sales growth for the year, supported by the introduction of high-margin winter apparel [6][10] Children's Business Strategy - Xtep has rebranded its children's business to "Xtep Youth," focusing on professionalization and scientific growth concepts [18] - The "Xtep Growth Shoes" have received positive feedback, addressing parents' concerns about children's height and overall development [19] Market Trends and Future Outlook - The overall industry inventory level is healthy, with Xtep's inventory management allowing for stable pricing strategies without significant discounting [15] - The demand for running shoes is expected to increase due to a surge in marathon events in the upcoming months [16][17] Additional Insights - Saucony's product mix includes collaborations with overseas brands, enhancing its market presence and driving sales growth in non-functional categories [9][12][13] - The company is leveraging partnerships with educational institutions to enhance product development for its children's line [18] This summary encapsulates the key insights from the conference call, highlighting Xtep International's performance, strategies, and future plans within the competitive landscape of the sportswear industry.

本月底法定/註冊股本總額： HKD 1,000,000,000 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: 特步國際控股有限公司 呈交日期: 2025年11月3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) | 01368 | 說明 | 不適用 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 100,000,000,000 | H ...

Group 1 - UBS upgraded the rating of Xtep International (01368) from "Neutral" to "Buy" and raised the target price from HKD 6.4 to HKD 7.6 [1] - The net profit forecast for 2025 to 2027 was increased by 1% to 9%, with expected profit contributions from Saucony and Merrell rising from 5% in 2024 to 16% in 2027 [1] - Anta Sports (02020) is also viewed positively, with profit contributions from vertical brands expected to increase from 9% in 2024 to 31% in 2027, maintaining a "Buy" rating and a target price of HKD 127 [1] Group 2 - Chinese sportswear stocks have seen an average decline of approximately 20% since August, reflecting market concerns over weak third-quarter sales and a growing consumer preference for specialized sports segments and vertical brands [1] - The estimated compound annual growth rate for the outdoor products market from 2025 to 2027 is projected to be 16%, significantly higher than the overall sports apparel growth rate of 5% [1] - Categories such as tennis and high-end running products are expected to have strong potential [1]

Core Viewpoint - UBS upgraded the rating of Xtep International (01368) from "Neutral" to "Buy," raising the target price from HKD 6.4 to HKD 7.6, while increasing net profit forecasts for 2025 to 2027 by 1% to 9% [1] Group 1: Company Analysis - The contribution of Xtep's brands Saucony and Merrell to profits is expected to rise significantly from 5% in 2024 to 16% by 2027 [1] - Anta Sports (02020) is also viewed positively, with expected profit contributions from vertical brands increasing from 9% in 2024 to 31% in 2027, maintaining a "Buy" rating and a target price of HKD 127 [1] Group 2: Market Trends - Chinese sportswear stocks have seen an average decline of approximately 20% since August, reflecting market concerns over weak sales in the third quarter and a growing consumer preference for specialized sports segments and vertical brands [1] - The outdoor products market is projected to have a compound annual growth rate of 16% from 2025 to 2027, significantly higher than the overall sports apparel growth rate of 5%, with strong potential seen in categories like tennis and high-end running products [1]

Core Viewpoint - Xtep International (01368) announced the issuance of 3.5786 million shares as a scrip dividend on October 30, 2025, based on the interim dividend for the six months ending June 30, 2025 [1] Summary by Category - Company Announcement - Xtep International will issue 3.5786 million shares as a scrip dividend [1]

Core Viewpoint - Xtep International (01368) announced the issuance of 3.5786 million shares as a scrip dividend on October 30, 2025, based on the interim dividend for the six months ending June 30, 2025 [1] Summary by Category - **Company Announcement** - Xtep International will issue 3.5786 million shares as a scrip dividend [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 特步國際控股有限公司 呈交日期： 2025年10月30日 第 1 頁 共 5 頁 v 1.3.0 FF305 確認 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； (viii) 有關債券、借貸股份、票據或公司債券的信託契約/平邊契據經已製備及簽署，有關詳情已送呈公司註冊處處長存檔（如法律如此規定）。 第一章節註釋： 若股份曾以超過一個每股價格發行/出售/購回/贖回，則須提供每股成交量加權平均價格。 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公 ...