Core Insights - Shiseido ranks 8th among international beauty giants, but its sales have declined by 7.6% compared to the same period last year [1] - Shiseido is more adept at incubating its own brands, while its capabilities in brand acquisition and management are relatively weak [1][26] - Laura Mercier, a brand previously under Shiseido, is set to exit the Japanese market, raising questions about Shiseido's operational capabilities with acquired brands [1][26] Brand Performance - Laura Mercier was acquired by Shiseido in 2016 for $260 million (approximately 1.86 billion RMB) as part of a strategy to expand into the North American market [11] - The brand's sales in 2015 were $160 million (approximately 1.15 billion RMB), but it has struggled in recent years, with a 28% sales decline in 2020 [12][11] - Shiseido's overall performance has been declining, with revenue growth slowing from 2019 to 2024, including an 18.6% drop in 2020 [15][21] Market Dynamics - The Japanese beauty market is facing challenges, with Shiseido's sales in Japan declining by 0.6% in the first half of 2023, despite a slight recovery in previous years [21] - Other brands, such as Too Faced under Estée Lauder, have also exited the Japanese market, indicating a broader trend of difficulties in this region [33] - Shiseido's strategy includes focusing on core brands and increasing the proportion of skincare sales, which has led to the decision to terminate the partnership with Laura Mercier [26][24]

Core Insights - Hema Fresh has decided to completely cease its membership store operations, which has garnered significant market attention [1][3] - The closure of Hema X membership stores marks the end of what was once considered a "second growth curve" for the company, which aimed to compete with international giants like Costco [1][3] Company Developments - Hema X membership stores began their journey in October 2020, with the first store opening in Shanghai, aiming to provide high-quality membership services [3] - By October 2023, Hema X had expanded to 10 stores across major cities including Shanghai, Beijing, Nanjing, and Suzhou [3] - The decision to close all membership stores was made without a detailed explanation from Hema, but it is understood to be a strategic business adjustment [4] Strategic Focus - Hema aims to concentrate on its core businesses, such as Hema Fresh and outlet stores, to enhance its high-quality fresh supply chain and instant delivery capabilities [4] - Industry experts view this strategic shift as a wise move based on Hema's resource advantages and market trends, potentially leading to more stable growth in the future [6]

Core Viewpoint - Hema has completely shut down all of its membership stores, marking the end of its attempt to establish a second growth curve that aimed to compete with Costco [2][3]. Group 1: Business Closure - All Hema X membership stores have ceased operations as of August 4, 2023, following the closure of the last remaining store in Shanghai on August 31 [1][2]. - The closure includes the initial stores opened in major cities such as Beijing, Shanghai, Nanjing, and Suzhou, with a total of 10 stores launched since the first store opened in October 2020 [3][4]. Group 2: Strategic Shift - The decision to close the membership store format is part of Hema's strategic adjustment to focus on its core business, Hema Fresh, and other formats like outlets [7]. - Hema aims to enhance its competitive edge by strengthening its high-quality fresh supply chain and instant delivery capabilities, moving away from the membership model that targeted middle-class and high-end consumers [6][7].

Core Viewpoint - The "Platinum Travel Photography" incident has escalated, with numerous complaints regarding unfulfilled contracts due to poor management, prompting the China Wedding Expo to take action to assist affected members [1][2]. Group 1: Company Response - The China Wedding Expo has established a special task force to provide solutions for members affected by "Platinum Travel Photography's" failure to fulfill contracts [2]. - For members who have completed their shoots but have not received their products, the Expo will assist in obtaining all raw photos, offering a subsidy of 1,000 yuan for those who choose to handle post-production independently [2][3]. - "Platinum Travel Photography" has announced a strategic adjustment to its wedding photography business, authorizing original service teams in various locations to continue providing services to consumers [8][10]. Group 2: Operational Changes - The China Wedding Expo will process the affected orders in three batches based on the urgency of wedding dates, starting with those scheduled before October 2025 [3]. - "Platinum Travel Photography" previously committed to 100% fulfillment of confirmed shooting schedules, despite ongoing losses in its travel photography business [10][11]. - The company has faced significant operational challenges, including a decline in marriage rates and rising costs, leading to a reduction in travel photography operations and the closure of unprofitable stores [11][12]. Group 3: Consumer Protection Measures - The China Wedding Expo has outlined multiple solutions for consumers, including options for transferring contracts to reputable photography brands or switching to local photography services [2][3]. - The company has also faced scrutiny from regulatory authorities, with reports of numerous consumer complaints and a halt in operations [12]. - Influencer Li Jiaqi has publicly addressed the issue, offering refunds and compensation for affected customers who purchased "Platinum Travel Photography" products through his platform [12].

在2025年上半年，雀巢销售额同比下滑1.8%至442亿瑞士法郎（约合人民币3917.49亿元），其中糖果和 咖啡业务是营收维持相对稳定的重要推动力。咖啡更是其营收占比第一大的关键业务。 而中国区的表现，显然并不让雀巢董事会满意。 此块区域营收明显下滑。在2025年上半年，雀巢大中华区销售额为24.7亿瑞士法郎（约折合人民币 207.65亿元），去年同期为26.39亿瑞士法郎（约合人民币214.14亿元）。 21世纪经济报道记者贺泓源、实习生李晴 马凯思（Kais Marzouki）对雀巢中国的调整正在稳步开展。 2025年7月30日，据21世纪经济报道记者确认，雀巢大中华区咖啡业务负责人姜海英已决定在雀巢之外 寻求新的发展机会，现任雀巢菲律宾奶品健康与营养解决方案(DHNS)负责人的Pamela Takai将接替姜海 英，出任咖啡业务负责人，自2025年9月1日起生效。根据通报，Pamela将直接向马凯思汇报，并成为大 中华区管理委员会的成员。 这是马凯思自7月1日接替张西强出任雀巢大中华区CEO以来，对雀巢中国的调整之一。 显然，Pamela Takai与马凯思关系匪浅。马凯思自2018年7月起，曾出任雀 ...

Core Viewpoint - Fonterra's Greater China division is undergoing a restructuring by merging its consumer brand team with its food service team to optimize operations and enhance synergies [1] Group 1: Business Operations - The merger aims to streamline operations and create greater collaboration between the consumer and food service segments [1] - Fonterra's food service business significantly outperforms its consumer brand business in terms of revenue and profit [1] - In FY2024, Fonterra's raw materials business generated NZD 3.598 billion (approximately RMB 15.338 billion) in revenue, with a net profit of NZD 128 million (approximately RMB 546 million) [1] - The food service business reported revenue of NZD 2.377 billion (approximately RMB 10.133 billion) and a net profit of NZD 299 million (approximately RMB 1.275 billion) [1] - The consumer products segment had revenue of NZD 394 million (approximately RMB 1.68 billion) but incurred a net loss of NZD 15 million (approximately RMB 6.3945 million) [1] Group 2: Market Competition - Fonterra faces intense competition, particularly from domestic brands like Miaokelando, which reported a 14% year-on-year revenue growth in its food service segment for 2024 [2] - The rise of domestic cheese brands has led to reduced costs for local cheese production, increasing competition in the food service market [2] - A price war in the food service sector is exerting downward pressure on prices, affecting Fonterra's profitability [2][3] Group 3: Profitability Concerns - Fonterra's food service business has seen a decline in gross profit margins in recent quarters, indicating potential challenges ahead [3] - The ongoing market changes suggest that Fonterra's adjustments may be just the beginning of a broader strategic shift [4]

Core Viewpoint - Intel is undergoing significant leadership changes and restructuring under CEO Lip-Bu Tan, including the departure of Chief Strategy Officer Safroadu Yeboah-Amankwah and plans for substantial layoffs to streamline operations and improve efficiency [1][2][3]. Leadership Changes - Safroadu Yeboah-Amankwah will leave Intel on June 30, 2024, after serving as Chief Strategy Officer since 2020, overseeing growth plans, strategic partnerships, and equity investments [2]. - Sachin Katti has been promoted to Chief Technology and AI Officer, taking over some of Yeboah-Amankwah's strategic responsibilities [2]. - Intel Capital, the company's venture capital arm, will report directly to CEO Lip-Bu Tan [2]. Restructuring and Layoffs - Intel has initiated layoffs in California, with approximately 107 employees at its Santa Clara headquarters being affected [5]. - The layoffs are part of a broader strategy to reduce the workforce by 15% to 20% in the chip manufacturing division, as announced in an internal memo [6][9]. - The company plans to cut $500 million in operating expenses this year and an additional $1 billion next year to enhance execution and operational efficiency [6]. Job Impact - The layoffs will impact various engineering roles, including physical design engineers, cloud software architects, and product development engineers, among others [7]. - The restructuring aims to reduce middle management to accelerate decision-making and address bureaucratic challenges within the organization [7]. Business Focus - Intel is shifting its focus back to core customers and data center products, which includes plans to gradually shut down its automotive chip business [9]. - The company is also outsourcing certain marketing functions to consulting firm Accenture to modernize its digital capabilities and improve service delivery [9].

Group 1 - A-shares market has seen a wave of name changes among listed companies this year, with over 200 companies changing their stock abbreviations, primarily due to financial indicators not meeting standards or business adjustments [1][2] - 35 companies have changed their stock abbreviations due to operational changes, strategic transformations, or asset restructuring [2][3] - Companies often change their names to better reflect their business structure and development, aiding investor understanding [1][2] Group 2 - Weir Shares changed its name to Haowei Group to reflect its acquisition of a leading image sensor chip design company and its diversified business structure [2] - FAW Fuwi changed its name to Fuwi Shares as part of its strategy to reduce reliance on a single client and enhance market operations [3] - Guotai Junan Securities changed its name to Guotai Haitong following a merger with Haitong Securities to better represent the combined entity [4] Group 3 - Companies like Zhonghang Electric Measurement and Spring Light Pharmaceutical Equipment have also changed their names due to asset restructuring, aligning their names with their core business and strategic direction [5][6] - The trend of incorporating terms like "technology" and "intelligent" in company names has emerged, reflecting a focus on innovation and development [5][6] - Companies such as Fubon Shares and Yuma Shade have rebranded to emphasize their commitment to technology-driven growth and product functionality [5][6]

Group 1 - Over 60 A-share companies have completed or initiated name changes since 2025, with more than 30 companies involved in changes to their stock abbreviations [1] - The name changes often reflect business adjustments, strategic transformations, or capital operations, indicating companies' proactive adaptation to market changes [1][2] - In May alone, more than 10 A-share companies announced plans to change their stock abbreviations, highlighting a trend towards rebranding in response to evolving business landscapes [1][2] Group 2 - Weier Co. announced a name change from Shanghai Weier Semiconductor Co., Ltd. to Haowei Integrated Circuit (Group) Co., Ltd., with the stock abbreviation changing to Haowei Group, to better reflect its business structure and enhance investor understanding [2] - The company reported that its image sensor solution business generated revenue of 19.19 billion yuan in 2024, accounting for 74.76% of its main business revenue [2] Group 3 - Companies changing their stock abbreviations have disclosed the proportion of existing business revenue to total revenue, as per the Shanghai Stock Exchange's guidelines [3] - Xiangyou Pump indicated that its strategic transformation led to significant changes in its business structure, prompting a name change to Meihu Intelligent Manufacturing Co., Ltd. [3] Group 4 - Xiangyou Pump's revenue from various product categories, including oil pumps and new energy vehicle components, reflects a shift in its business focus, with oil pump revenue decreasing over the years [4] Group 5 - Mergers and acquisitions are key strategies for companies to achieve high-quality development and are significant reasons for name changes [5] - Zhu Mian Group changed its name from Gree Real Estate to reflect its new strategic focus on the duty-free business after a major asset swap [5] Group 6 - Companies like Wolong New Energy have shifted their focus from real estate to new energy, prompting a name change to better align with their new business direction [5][6] - The new name reflects a commitment to intelligent and sustainable industrial solutions [6] Group 7 - Several companies are emphasizing "intelligent" and "technological" aspects in their name changes, indicating a shift towards modernization and innovation [6][7] - Yuma Shade changed its name to Yuma Technology to better represent its focus on functional shading materials that align with national innovation goals [7] Group 8 - Companies are increasingly shedding "environmental" labels, indicating a shift in business focus or industry positioning [9] - For instance, Aofu Technology changed its name from Aofu Environmental Protection to Aofu Technology to reflect its clearer strategic focus on new materials [9]

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容 而引致的任何損失承擔任何責任。 New Amante Group Limited 新愛德集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8412） (1)截至 2024 年 5 月 31 日止年度的年報中 所載不發表意見之更新；及 (2)業務最新狀況 本公司董事會擬提供有關其截至 2024 年 5 月 31 日止年度的年報（「年報」）中所載不發表 意見（「不發表意見」）的更新資料，以及業務最新狀況。除另有指明外，本公告所用詞彙 與年報所界定者具有相同涵義。 自年報刊發日至本公告日，本集團已採取以下步驟及措施以減輕流動資金壓力及改善財務狀 況： 除上述內容外，BU 公告中提及的所有其他業務更新均保持不變。 1 (1) 本集團繼續執行嚴格的成本控制措施，密切監控、控制及降低營運及行政成本及開支， 以盡量減少現金流出；及 (2) 參照本公司日期為 2025 年 3 月 26 日的公告（「BU 公告」），本集團已執行以 ...