為 古 茗 控 股 有 限 公 司（「本公司」）已 發 行 股 本 中 的 股 份 的 登 記 持 有 人，茲 委 任 大 會 主 席 （附註3） 或 Guming Holdings Limited 古茗控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：01364） | 本代表委任表格相關股份 | | --- | | （附註1） 數 目 | 將 於2025年12月4日（星 期 四）舉 行 的 股東特別大會的代表委任表格 本人╱吾等 （附註2） 地址為 地址為 為本人╱吾等的受委代表，代表本人╱吾等出席本公司謹訂於2025年12月4日（星 期 四）下 午2時正於中國浙江省杭 州市蕭山區博學路618號科創中心A座5樓舉行的本公司股東特別大會（「股東特別大會」）（及其任何續會）並代表本人╱ 吾等按以下指示行事及投票。 請 在 適 當 空 欄 內 標 示（「✔」）號，以 表 示 投 票 意 願 （附註4） 。 | | | 普通決議案 | 贊 成 | 反 對 | | --- | --- | --- | --- | --- | | 1. | 「動議： | | | | | | (a) | 批 准 向 本 公 司 ...

EF001 免責聲明 | 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 | | | --- | --- | | 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。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 古茗控股有限公司 | | 股份代號 | 01364 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 建議宣派及派付特別股息及暫停辦理股份過戶登記 | | | 公告日期 | 2025年11月14日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 其他 | | 特別股息 | | | 股息性質 | 特別股息 | | 財政年末 | 不適用 | | 宣派股息的報告期末 | 不適用 | | 宣派股息 | 每 股 0.93 HKD | | 股東批准日期 | 2025年12月4日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.93 HKD | | 匯率 | 1 HKD : 1 ...

此乃要件 請即處理 閣下如 對本通函任何方面或應採取的行動 有任何疑問，應諮詢股票經紀或其他註冊證券 交易商、銀行經理、律師、專業會計師或其他專業顧問。 古茗控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：01364） 建議宣派及派付特別股息 及 股東特別大會通告 古茗控股有限公司謹訂於2025年12月4日（星 期 四）下 午2時正於中國浙江省杭州市蕭山區 博學路618號科創中心A座5樓舉行股東特別大會，會議通告載於本通函。 無 論 閣 下 能 否 出 席 股 東 特 別 大 會，務 請 依 照 隨 附 適 用 於 股 東 特 別 大 會 的 代 表 委 任 表 格 上 印 列 的 指 示 填 妥 及 簽 署 表 格，並 儘 快 及 無 論 如 何 不 遲 於 股 東 特 別 大 會 或 其 續 會（視 情 況 而 定）指 定 舉 行 時 間48小 時 前（即 不 遲 於2025 年12 月2 日（星 期 二）下 午2 時 正（香 港 時 間））交 回 本 公 司 香 港 股 份 過 戶 登 記 分 處 卓 佳 證 券 登 記 有 限 公 司，地 址 為 香 港 夏 愨 道16號遠東金 融中心17 ...

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。 Guming Holdings Limited 古茗控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股份代號：01364） 建議宣派及派付特別股息 及 暫停辦理股份過戶登記 茲提述(i)古茗控股有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）日期為 2025年2月4日的招股章程中有關（其 中 包 括）本公司擬宣派及派付特別股息的披 露，及(ii)本公司日期為2025年11月4日 的 公 告，內 容 有 關 本 公 司 於2025年11月14 日舉行的董事會（「董事會」）會 議 日 期，其 中 議 程 包 括 考 慮 及 批 准 宣 派 及 派 付 特 別 股 息。 建議宣派及派付特別股息 誠如本公司日期為2025年2月4日 的 招 股 章 程 所 披 露，本 公 司 擬 於2025年12月 前 根據本 ...

Core Viewpoint - The recent controversy regarding the similarity in taste between tea products from Tea Yan Yue Se and Gu Ming has sparked discussions among consumers, highlighting the common practice of using the same suppliers across different brands in the beverage industry [2]. Company Overview - Zhejiang Shui Cang Food Technology Co., Ltd. was established in May 2022 with a registered capital of 10 million RMB, focusing on food production and related services [3]. - The company is co-owned by Gu Ming Technology Group Co., Ltd. (70% stake) and Xu Zhou Kun Xing Enterprise Management Partnership (30% stake) [3][5]. - The company operates a digital light food and beverage raw material processing base, which began production in August 2022 [2]. Production and Financial Performance - In 2024, Zhejiang Shui Cang is projected to produce over 7,000 tons of tea drinks and tea leaves, generating an output value of 700 million RMB, representing a year-on-year growth of approximately 37% [2]. - The company provides production services for multiple brands, including both Tea Yan Yue Se and Gu Ming, which is a common practice in the industry [2]. Industry Context - The beverage industry often sees suppliers servicing multiple brands, leading to similarities in product taste due to the nature of the tea leaves used [2]. - Both Tea Yan Yue Se and Gu Ming have acknowledged the use of the same supplier, emphasizing that the similarity in taste is a normal occurrence within the category of similar tea products [2].

Core Viewpoint - The recent discussion around the similarity in taste between Cha Yan Yue Se's "Ming You Habit Tea (Jasmine Spring Bud)" and Gu Ming Tea has sparked significant online debate, highlighting the common practice of multiple brands using the same supplier in the beverage industry [2][3]. Group 1: Company Responses - Both Cha Yan Yue Se and Gu Ming's customer service stated that it is common for a supplier to serve multiple brands, emphasizing that there is no direct collaboration between the two brands [3]. - Cha Yan Yue Se clarified that they have specific production requirements for their tea leaves, which differentiates their products from those of Gu Ming, although they did not disclose detailed production processes [3]. - Gu Ming's customer service acknowledged that the similar taste is normal due to the overall flavor profile of similar tea leaves [3]. Group 2: Supplier Information - Zhejiang Shui Cang Food Technology Co., Ltd. is the supplier for both brands and is a key part of Gu Ming's digitalized light food and beverage raw material processing base, which began production in August 2022 [3]. - The projected production for 2024 from Zhejiang Shui Cang is over 7,000 tons, with an expected output value of 700 million yuan, representing a year-on-year growth of approximately 37% [3]. - The company was established in May 2022 with a registered capital of 10 million yuan and is co-owned by Gu Ming Technology Group and Xu Zhou Kun Hang Enterprise Management Partnership [3][4].

Core Viewpoint - The report from Dongwu Securities emphasizes the increasing importance of online channels in the restaurant industry, particularly the balance between takeout and dine-in services to enhance profitability and efficiency [1][3]. Group 1: Importance of Online Channels - Online channels are becoming a key growth engine for the restaurant industry, with takeout revenue potentially reaching 60-70% for fast food and coffee sectors, while traditional dining experiences are declining [1][3]. - National restaurant revenue growth is slowing, with a reported increase of only 3.3% year-on-year for the first nine months of 2025, indicating a shift from aggressive expansion to a more stable growth phase [1]. Group 2: Takeout Adaptability Across Different Formats - The adaptability of various restaurant formats to takeout is ranked from highest to lowest: beverages & fast food > casual dining > hot pot, with takeout revenue for coffee and fast food potentially reaching 50-70% [2]. - The adaptability is influenced by the type of service required, frequency of consumption, and the complexity of delivery logistics [2]. Group 3: Balancing Takeout and Dine-in - A healthy takeout ratio is crucial for restaurant brands, as it can significantly improve operational efficiency and brand competitiveness; however, over-reliance on takeout can lead to a loss of brand identity and profitability [3]. - The optimal takeout revenue ratio for fast food and coffee is suggested to be 60-70%, while for traditional dining, it is 30-40% to avoid operational inefficiencies [3]. Group 4: Strategies for Internal Growth - Restaurants should establish a takeout revenue threshold and innovate their takeout offerings while also focusing on building a proprietary membership system to convert external traffic into internal loyalty [4]. Group 5: Investment Recommendations - The industry is rated as "outperforming the market," with a focus on balancing takeout and dine-in strategies tailored to consumer trends and brand positioning [5]. - Recommended companies include Xiaocaiyuan, Guoquan, Guming, Mixue Group, Haidilao, and Yum China, with additional attention on Green Tea Group, Dashihua, Tongqinglou, Guangzhou Restaurant, Jiumaojiu, and Chabaidao [5].

Core Viewpoint - The article discusses the challenges and transformations in the tea and coffee industry, highlighting the impact of subsidy cuts and changing consumer behavior on business viability and profitability [4][5][12]. Group 1: Industry Challenges - The cessation of subsidies has led to a significant decline in sales for many tea and coffee shop owners, with daily revenues often falling below 1,000 yuan, which is considered a critical threshold for profitability [5][12]. - The rapid increase in the number of tea and coffee shops, with 26,000 new stores opened in the third quarter alone, has intensified competition, leading to a "survival of the fittest" scenario in the industry [5][20]. - The shift in consumer behavior towards lower-priced options has resulted in a "new normal" where products priced above 10 yuan are increasingly viewed as expensive, pressuring businesses to adapt [23][24]. Group 2: Business Strategies - Some entrepreneurs are successfully navigating the market by focusing on high-frequency, low-cost offerings, positioning tea and coffee as essential daily consumables rather than luxury items [12][14]. - The article highlights the importance of brand selection and location in achieving business success, with some operators finding lucrative opportunities by aligning with well-regarded local brands [39][40]. - The trend towards chain operations is increasing, with the chain penetration rate in the tea and coffee sector reaching 51% in 2024, indicating a consolidation of market power among established brands [20][21]. Group 3: Financial Performance - The financial performance of the tea and coffee sector has shown resilience, with revenue growth rates for coffee and tea outpacing other food and beverage categories, such as fast food and traditional dining [16]. - Despite the overall market challenges, some brands have reported impressive revenue growth, with companies like Gu Ming and Mi Xue Ice City seeing significant increases in sales due to aggressive marketing and pricing strategies [28][29]. - The article notes that while some businesses are thriving, the pressure on profit margins is severe, with many operators experiencing squeezed profits due to rising marketing costs and competitive pricing [31][32].

Core Viewpoint - The Hong Kong consumer sector is experiencing volatility, with the Hong Kong Consumer ETF (513230) declining over 1% amid mixed performances from various holdings. The introduction of AI strategies in the sports goods industry and new tax policies on gold are expected to influence market dynamics positively in the long term [1]. Group 1: Market Performance - The Hong Kong Consumer ETF (513230) is tracking the CSI Hong Kong Stock Connect Consumer Theme Index, which includes leading companies in both internet e-commerce and new consumption sectors [2]. - Notable declines were observed in stocks such as XPeng Motors-W, MGM China, Alibaba-W, Kuaishou-W, and Samsonite, while stocks like Bosideng, Guming, Wanzhou International, and Yum China showed gains [1]. Group 2: Strategic Developments - Anta Group has launched the "AI365 strategy" and introduced the first AI design model in the sports goods industry, establishing AI as a key direction for innovation and development [1]. - The Ministry of Finance and the State Taxation Administration announced new tax policies regarding gold, effective from November 1, 2025, to December 31, 2027, which may impact investment strategies in the gold sector [1]. Group 3: Industry Outlook - Shanghai Securities anticipates rapid growth in AI toys due to supportive policies and economic recovery, while the long-term investment appeal of gold is expected to strengthen amid ongoing Federal Reserve rate cuts and trade tensions [1]. - The demand for gold jewelry is projected to continue rising, with traditional gold and IP gold accessories leading new trends [1]. - The government is promoting reforms and innovations to enhance the quality of development in the sports sector, with sustained consumer activity in sports apparel expected [1].

Group 1: Macro and Strategy - The core conclusion indicates that the bull market initiated in 2024 is not over, transitioning into its second phase, with the driving force shifting from sentiment to fundamentals [6] - Technology is identified as the main theme, with a focus on AI glasses, robotics, intelligent driving, AI programming, and AI in life sciences [6][7] - The bull market is characterized by structural features, with "small assets" outperforming "old assets," and the market is currently in the explosive phase of the bull market [6][7] Group 2: Industry and Company Analysis - The restaurant industry is transitioning from extensive expansion to stable growth, with online channels becoming increasingly important [8][9] - Different restaurant formats have varying adaptability to delivery services, with beverages and fast food showing the highest adaptability [8][9] - A balanced approach between dine-in and delivery is crucial for restaurant brands to maintain brand recognition and profitability [10] Group 3: Investment Recommendations - The report maintains an "outperform the market" rating for the restaurant industry, emphasizing the need for brands to adapt to consumer trends and optimize their cost-benefit ratios [11] - Specific recommendations include companies like Xiaocaiyuan, Guoquan, and Haidilao, while also suggesting attention to Meituan-W as a platform leader [11] Group 4: Company Financial Performance - Beike-W reported a 2% year-on-year revenue growth in Q3 2025, with a total GTV of 736.7 billion RMB [15] - The adjusted net profit for Beike-W decreased by 28% year-on-year, indicating challenges in profitability despite revenue growth [15][16] - Yonyou Network's revenue for the first three quarters of 2025 was 5.584 billion RMB, a 2.7% decline year-on-year, but showed a positive growth trend in Q3 [19][20]