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： 布魯可集團有限公司 呈交日期： 2025年12月9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) | 00325 | 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 | | 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 ...

Core Viewpoint - The Hong Kong stock market continues to decline in the afternoon session, with the Hang Seng Index down by 1.28% and the Hang Seng Tech Index experiencing a larger drop of 2% [1][5]. Group 1: Market Performance - The Hang Seng Index is currently at 25,436.25, reflecting a decrease of 1.28% [6]. - The Hang Seng Tech Index has dropped to 5,548.96, marking a decline of 2.01% [6]. - The Hang Seng China Enterprises Index is at 8,938.46, down by 1.60% [6]. Group 2: Sector Performance - Gold, semiconductor, and new consumption concept stocks are showing weakness in the market [1][5]. - Zijin Mining and Hua Hong Semiconductor have both fallen by over 5% [1][5]. - Pop Mart and Blokus have also seen declines close to 5% [1][5].

Group 1 - The Hong Kong stock market's new consumption concept is experiencing a decline in the afternoon session [1] - Pop Mart has dropped nearly 5%, indicating a significant downturn in its stock performance [1] - Other companies such as Blukoo, Cha Bai Dao, and Lao Pu Gold are also seeing declines alongside Pop Mart [1]

Group 1 - The new consumption concept stocks in the Hong Kong market are experiencing a continued downturn, with significant declines observed in various companies [2] - Pop Mart has seen a drop of over 5%, while Brucan has decreased by 4.3% [2] - Other companies such as Guoquan, Xiaomi Group, and Laopu Gold have also reported declines exceeding 3%, with Cha Baidao down by 2.8% [2]

Group 1 - The new consumption concept stocks in the Hong Kong market continue to be sluggish, with significant declines observed [1] - Pop Mart (09992.HK) fell over 5%, while Blok (00325.HK) dropped 4.3% [1] - Other companies such as Guoquan (02517.HK), Xiaomi Group (01810.HK), and Laopu Gold (06181.HK) experienced declines exceeding 3%, and Chabaidao (02555.HK) fell by 2.8% [1]

Core Viewpoint - The article discusses the transformation of HERE (formerly known as Quantum Song) from an adult education company to a pure-play trendy toy company, highlighting its financial performance and strategic direction in the competitive market of emotional consumption and cultural assets [3][5][7]. Financial Performance - In the first quarter of fiscal year 2026, HERE achieved revenue of 127 million RMB, a 93.3% increase quarter-over-quarter, surpassing the previous guidance of 100-110 million RMB [5][6]. - The company raised its revenue guidance for the second quarter to 150-160 million RMB, indicating confidence in short-term growth [5]. - The company reported a net loss of approximately 25.8 million RMB for the quarter, which has widened compared to the previous quarter [13]. IP Portfolio - As of September 30, HERE owns 17 IPs, including 11 proprietary IPs, 4 exclusive licensed IPs, and 2 non-exclusive licensed IPs [5]. - The top three performing IPs are WAKUKU, generating approximately 89.73 million RMB in revenue, ZIYULI with 20.76 million RMB, and SIINONO contributing 12.89 million RMB [5][6]. Market Dynamics - The global collectible toy market reached 57.1 billion USD in 2023 and is expected to grow to 69.6 billion USD by 2028, with the Chinese IP toy market projected to grow from 57.8 billion RMB in 2025 to 91.1 billion RMB by 2028, reflecting a compound annual growth rate of over 17% [9][10]. - The market is highly fragmented, with nearly 80% of the Chinese market being occupied by numerous small brands, presenting both opportunities and competitive risks for new entrants like HERE [9][10]. Strategic Approach - HERE's strategy involves a dual approach of online and offline channels to enhance brand visibility and IP recognition, leveraging social media platforms for marketing [11][12]. - The company has expanded its offline presence with flagship stores and pop-up events in major cities, aiming to create an immersive brand experience [12]. Production and Supply Chain - HERE's plush blind box production exceeded 1 million units in August, marking a more than 20-fold increase since the beginning of the year, indicating a robust and flexible production system [6][13]. - The rapid scaling of production capacity is crucial for responding to market demands and supporting the launch of popular products [6]. Challenges Ahead - Despite initial success, HERE faces challenges in maintaining profitability and managing operational costs, which have significantly increased during its expansion phase [13]. - The company must evolve from creating a single hit product to establishing a sustainable system capable of consistently producing successful products [13].

Market Performance - The market opened high on December 8, with the Shanghai Composite Index rising by 0.54%, the Shenzhen Component Index increasing by 1.39%, and the ChiNext Index up by 2.6% [1][2] - The total trading volume in the Shanghai and Shenzhen markets reached 2.05 trillion, an increase of 312.7 billion compared to the previous trading day, with over 3,400 stocks rising [1] Sector Highlights - The Fujian sector saw a significant surge, with Anji Food achieving five consecutive trading limits, and over ten stocks including Shuhua Sports and Fujian Jinsen hitting the daily limit [3] - The AI industry chain is experiencing continuous catalysis, with companies like Tianfu Communication and Guangpu Technology seeing stock prices rise over 10% [6] - The commercial aerospace concept remains strong, with Shunhao Co. achieving six trading limits in seven days, and Longzhou Co. hitting four consecutive limits [7] Pharmaceutical Sector - The pharmaceutical sector showed strong fluctuations, with multiple stocks rising over 10% following the announcement of the updated national medical insurance directory, which now includes 3,253 types of drugs [9][10] - Sixteen A-share listed pharmaceutical companies reported that their products were included in the national medical insurance directory or the innovative drug directory [10] Consumer Sector - In the Hong Kong market, consumer stocks experienced a downturn, with Pop Mart dropping nearly 9% and several related stocks declining over 3% [11] - Deutsche Bank noted that Pop Mart is increasing production capacity significantly, which may indicate a potential decline in brand heat due to mass production [12]

Core Insights - The article highlights the successful debut of the Chinese toy brand Blokus at the Comic Con Experience in São Paulo, Brazil, showcasing nearly 60 products from over 10 globally recognized IPs, including Transformers and Saint Seiya [1][3]. Product Launch and Market Strategy - Blokus launched the Saint Seiya "Golden Twelve Palaces" series in Brazil, featuring nine characters, which caters to local fans' expectations and enhances the brand's presence in the Latin American market [3][5]. - The company has developed two product lines for the Saint Seiya IP: the "Star Edition" for ages 6 to 16 and the "Beyond Edition" for consumers aged 16 and above, ensuring a diverse product experience [5][7]. Innovation and R&D - Blokus has invested significantly in R&D, accumulating over 500 patents, which has led to continuous innovation in assembly systems, technology, and production methods, creating a unique product structure [7][9]. - The brand's innovative and diverse product offerings attracted a large number of visitors at the exhibition, establishing Blokus as a focal point of the event [7]. Global Expansion - Starting in 2024, Blokus is pursuing a global expansion strategy, having already made inroads in Southeast Asia, Europe, North America, and Latin America, with Brazil being a key market due to its status as the fifth-largest anime market in the world [9][10].

Investment Rating - The report assigns an "Outperform" rating to several companies including Pop Mart, Anta Sports, Huazhu Hotels, and Haidilao, while Budweiser APAC is rated "Neutral" [1]. Core Insights - The report highlights significant developments in the F&B sector, including Naixue's Tea announcing Gao Yuanyuan as its brand spokesperson and Mixue piloting a breakfast menu in select locations [6][7]. - The consumer goods trade-in program has driven sales exceeding RMB 2.5 trillion from January to November, benefiting over 360 million people [6]. - Haier Smart Home and LG Chem have established a joint laboratory to enhance their strategic cooperation in new product development [6]. Weekly Performance Summary - Key performers in the F&B sector include Tongqinglou (+9.3%) and DPC Dash (+4.6%), while underperformers include Yum China (-4.0%) and Xiaocaiyuan (-4.3%) [2][7]. - In the home appliance sector, TCL Electronics (+8.5%) and Roborock (+6.6%) showed strong performance, while Marssenger Kitchenware (-4.6%) and Zhejiang Meida (-6.9%) lagged [2][7].

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: 布魯可集團有限公司 呈交日期: 2025年12月4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) | 00325 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 500,000,000 | USD | | 0.0001 | USD | | 50,000 | 本月底法定/註冊股本總額： USD ...