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： 百勝中國控股有限公司("本公司") 呈交日期： 2025年7月11日 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司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 09987 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 ...

Summary of Conference Call Records Industry Overview - The service consumption sector in China is currently lower than that of developed economies, with a high proportion of survival consumption. Future potential lies in entertainment and tourism services, which are expected to benefit from changing consumer preferences [2][1]. Key Insights and Arguments Tea Beverage Industry - The tea beverage industry is projected to grow well in 2025, with same-store sales growth exceeding 20%, driven by high temperatures and delivery subsidies. Although domestic growth may slow from 20%-30% to 15%-20%, there remains significant growth potential in international and lower-tier markets. Recommended investment targets include Xuewang, which has a high market share and low price point, and Gupin, which has untapped market potential [3][1]. Restaurant Industry - The restaurant industry is expected to exceed expectations in 2025, with moderate single-digit growth but significant internal structural differentiation. Affordable chain restaurants are showing improved operational data, with recommended stocks including Xiaocaiyuan Green Tea and Yum China, which has a robust performance and offers a 9% dividend yield through share buybacks [4][1]. Meituan's Competitive Advantage - Meituan faces competition from JD and Alibaba but maintains strong core competitive barriers, including a robust local life three-sided transaction network and a well-established ecosystem, particularly in lower-tier cities. This positions Meituan favorably in the ongoing instant retail subsidy battle [5][1]. Education Sector - The education market is currently characterized by high demand and a trend towards concentration, with leading companies likely to capture greater market share. Recommended stocks include Xueda, Angli, and Hong Kong-listed Zhuoyue and Sikaole [6][1]. Human Resources Industry - The human resources sector is experiencing weak demand, but companies like Keri and Beijing Renli are leveraging partnerships with major clients like Huawei for structural recovery. Keri's HeFa recruitment platform utilizes AI to connect headhunters and companies, enhancing efficiency [7][1]. Hotel Industry - The hotel sector is currently oversupplied, with RevPAR showing a year-on-year decline, although the rate of decline is narrowing. The summer tourism demand is strong, and there are opportunities for improvement in leading hotel groups. Recommended investment includes Shoulu Group, which is expected to benefit from operational improvements [11][1]. Additional Important Points - The tourism sector is under close policy scrutiny, with potential government subsidies to boost the industry. The domestic tourism market shows a clear seasonal trend, with increasing disparities between peak and off-peak seasons [9][1][10][1]. - The hotel industry is expected to see a recovery in supply-demand dynamics, with leading companies poised to benefit from improved operational metrics and strategic adjustments [11][1].

公司名稱： 百勝中國控股有限公司("本公司") 呈交日期： 2025年7月10日 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 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司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 09987 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發 ...

FF305 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09987 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | 佔有關事件前的現有已發 | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（不包括庫存股份）數 目 | | 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | | | 於下列日期開始時的結存(註1) | 2025年7月7日 | | 370,818,787 | | 0 | | 370,818,787 | | 1). 購回股份 (股份購回並註銷) | | | -67,093 | 0.02 % | USD | | 47.69 | | 於2025年7月7日在美國購回並在2025年7月8日註銷之股份 ...

Group 1 - The report emphasizes that service consumption has become a core strategy for expanding domestic demand in 2025, with significant potential for growth in China compared to developed economies like the US and Japan [4][8][28] - The report highlights that China's per capita GDP has surpassed $10,000, marking a critical window for the rapid development of service consumption, particularly in entertainment and leisure sectors [4][30][32] - Key measures to boost service consumption include increasing residents' income, enhancing leisure time, and encouraging high-quality service supply [4][8][28] Group 2 - The tea beverage industry is identified as having substantial growth potential, with a rational increase in store numbers and a shift towards emotional value for consumers, particularly among younger demographics [9] - The restaurant industry is expected to see steady growth, with a focus on government subsidies and an increase in chain operations, indicating a structural differentiation between mass and high-end markets [10] - Meituan is noted for its strategic investments in ecosystem development, maintaining a competitive edge despite short-term market fluctuations [11] Group 3 - The education sector is experiencing a concentration of market share among high-quality institutions, driven by regulatory changes and a persistent demand for K12 education [12] - The human resources industry is undergoing structural recovery, with a focus on AI applications to enhance efficiency and reduce costs [13] - The tourism sector is benefiting from policy-driven support and accelerated industry consolidation, with a notable increase in domestic travel demand [14] Group 4 - The hotel industry is facing a slowdown in supply growth, with leading hotel groups adjusting their operations to maintain competitive performance [14] - The duty-free sector is showing signs of recovery, with a stabilization in average transaction values and a narrowing decline in sales, supported by product diversification and new channel expansions [15]

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： 百勝中國控股有限公司("本公司") 呈交日期： 2025年7月8日 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司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 09987 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 事件 | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | ...

Group 1 - Nasdaq Golden Dragon China Index increased by 1.6%, outperforming the three major US stock indices, which are down by up to 0.6% [1] - Notable gains in popular Chinese concept stocks include Bilibili up over 7.8%, Baidu and Yum China up to 5.3%, and Li Auto up over 4.3% [1] - Significant stock movements include Yunmi Technology up 36.14%, XinYong up 30.77%, and Bit Origin up 24.94% [1] Group 2 - Yunmi Technology's current price is $2.26, with a rise of 36.14% and a year-to-date increase of 54.79% [2] - XinYong's current price is $4.25, with a rise of 30.77% and a year-to-date increase of 429.28% [2] - Bit Digital's current price is $3.56, with a rise of 21.12% and a year-to-date increase of 21.53% [2]

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： 百勝中國控股有限公司("本公司") | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 09987 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | | | 於下列日期開始時的結存(註1) | 2025年7月3日 | | 370,888,676 | | 0 | | 370,888,676 | | 1). ...

Core Viewpoint - The article discusses the significant advancements made by Yum China in the integration of AI into its operations, particularly through the launch of its restaurant operation AI agent, Q-Smart Agent (Q睿), marking a transition into the AI+restaurant era and emphasizing the importance of digitalization in enhancing operational efficiency [3][5][10]. Group 1: AI Development and Implementation - Yum China's Q-Smart Agent is designed to enhance operational experiences and restaurant efficiency by integrating with wearable devices and supporting over 20 operational scenarios, including scheduling and inventory management [5][6]. - The company has a decade-long history of digitalization, which has laid the groundwork for the successful implementation of AI technologies across various business functions [7][15]. - The transition from AI 1.0 to AI 2.0 signifies a shift where AI can autonomously identify needs and provide solutions, as exemplified by Q-Smart's ability to proactively manage staffing issues [11][12]. Group 2: Data Management and Digital Infrastructure - Yum China's digital infrastructure, including a robust data warehouse established in 2010, allows for detailed data collection and analysis, which is crucial for operational efficiency in the restaurant industry [16][19]. - The company has leveraged high-quality, granular data to optimize various aspects of its operations, from predicting employee needs to enhancing supply chain efficiency [19][22]. - The integration of AI with existing data systems is essential for ensuring accurate outputs and minimizing errors, which is a challenge faced by many companies in the industry [12][25]. Group 3: Consumer Engagement and Marketing Strategies - The company has successfully implemented digital marketing strategies, such as the "Crazy Thursday" campaign, which significantly increased sales on typically low-traffic days [34]. - Yum China's Super App consolidates various customer engagement functions, enhancing user experience and driving sales [33][45]. - The company is exploring the use of AI to further personalize customer interactions and improve service delivery through its app [45][46]. Group 4: Future Vision and Innovations - Yum China envisions a "smart restaurant" concept where AI facilitates seamless customer interactions and operational processes, reducing the need for extensive employee training [46][49]. - The integration of robotics in restaurant operations is also being explored, with plans to utilize robots for various tasks to enhance efficiency [48][50]. - The company's approach to AI and robotics reflects a commitment to innovation while ensuring that implementations are carefully considered and strategically executed [50].

表格類別： 股票 狀態： 新提交 公司名稱： 百勝中國控股有限公司("本公司") 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) 呈交日期： 2025年7月4日 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司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 09987 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | | 已發行 ...