Core Insights - The company, Hars, is optimistic about the domestic cup and kettle market, noting that the current CR4 is below 20%, indicating significant brand landscape benefits [3] - Hars has received approval from the China Securities Regulatory Commission for a specific issuance of A-shares in 2023, planning to proceed based on market conditions [3] Group 1: Brand Strategy and Market Positioning - The collaboration with Tencent is a core brand strategy aimed at enhancing content co-creation, upgrading membership services, and driving business growth [2] - The company emphasizes the transformation from "traffic cooperation" to "value co-creation" to strengthen brand influence among Generation Z [2] Group 2: Operational Performance and Supply Chain - The company reported strong performance during this year's Double Eleven shopping festival, with continuous optimization of operational capabilities [3] - The Thai production base is in a ramp-up phase, but the company is confident in cost optimization due to local supply chain development and automation [3] Group 3: Growth Opportunities and Global Expansion - The OEM business is seeing steady growth in market share from leading clients, with non-U.S. markets (Europe, Japan, Middle East) emerging as new growth points [3] - The company aims to leverage scale and certification barriers to capture a larger share in the global supply chain restructuring [3] Group 4: Governance and Shareholder Returns - The company has established a modern corporate governance structure with clear responsibilities and stable core management [3] - A share buyback plan will be implemented based on market conditions, with specific progress to be announced monthly [3]

Group 1: Supermarket Transformation and Brand Upgrade - The company initiated a deep transformation of its supermarket business in July 2023, focusing on a customer-centric model that emphasizes understanding products and customers [2] - The Sp@ce3.0 store format has undergone iterations from Sp@ce1.0 to Sp@ce3.0, adapting to market changes and consumer behavior [2][3] - The brand upgrade targets two core customer groups: health-conscious families and urban youth seeking lifestyle experiences [2][3] Group 2: Store Performance and Expansion - The upgraded Shenzhen Zhonghang City Junshang store, completed on November 7, 2025, reflects the ongoing evolution from Sp@ce3.0 to 3.x [3] - A total of 9 standardized upgraded stores and 18 operationally optimized stores have been completed, with plans to upgrade over 80% of existing stores in the next three years [3] Group 3: Private Label Development Strategy - The company has shifted its private label strategy from quantity expansion to quality enhancement, establishing a "Good—Better—Best" tiered product management system [4] - The product development process is driven by global consumer data insights, integrated product development (IPD) models, and smart operations for quality and cost control [4] - The company aims to launch multiple strategic products each year with high repurchase rates to create a differentiated competitive advantage [4] Group 4: Compliance and Transparency - The company adhered to relevant regulations during the investor relations activity, ensuring no leakage of undisclosed significant information [5]

一、品牌合法传承,运营一切正常 "富贵鸟"系列品牌商标及相关知识产权,已于2019年通过合法、公开的司法拍 卖程序,由我方母公司盛悦晟（厦门）资产管理有限公司成功竞得并完成权利转移。 自此,"富贵鸟"品牌已由全新的运营主体承接,并持续开展设计、生产与销售等全部 经营活动。目前公司业务健康、运营正常,线上线下销售渠道畅通,持续为市场与消 费者提供优质的产品与服务。 二、现品牌与原注销主体无关联 媒体报道中提及的"富贵鸟股份有限公司"的破产注销,系其独立的企业行为。 该主体与我方目前运营的"富贵鸟"品牌已无任何法律及经营上的关联。相关报道未 能完整呈现"品牌已成功转让并持续运营"这一关键事实，导致公众产生严重误解, 已对我方"富贵鸟"品牌声誉与市场形象造成损害。 三、品牌承诺与行动 每经AI快讯，11月25日，"富贵鸟"品牌现运营方富贵鸟(厦门)科技集团有限公司发布声明称，"富贵鸟"品牌已由全新的运营主体承接，并持续开展设计、 生产与销售等全部经营活动。目前公司业务健康、运营正常。声明称，"媒体报道中提及的"富贵鸟股份有限公司"的破产注销，系其独立的企业行为。该 主体与我方目前运营的'富贵鸟'品牌已无任何法律及经 ...

Core Viewpoint - The company formerly known as Beixin Ruifeng Fund has officially changed its name to Huayin Fund Management Co., Ltd, marking a significant rebranding effort aimed at enhancing its market presence and service capabilities [1][3]. Group 1: Name Change and Legal Aspects - The name change has been officially registered, and the company will apply to the China Securities Regulatory Commission for a new securities and futures business license, along with corresponding changes to its public fund product names [1][2]. - The legal entity and external legal relationships remain unchanged, and existing contracts and legal documents signed under the previous name will still be valid [1][2]. Group 2: Background and Ownership - Huayin Fund was established on March 17, 2014, and is co-founded by Beijing International Trust Co., Ltd and Laizhou Ruihai Investment Co., Ltd, with respective shareholdings of 60% and 40% [2]. - There are rumors regarding a potential acquisition of Beixin Ruifeng Fund by Huaxia Bank, which has led to speculation about a shift in shareholder background from "trust" to "bank" [3][4]. Group 3: Relationship with Huaxia Bank - Despite the lack of direct equity ties, there is a strong connection between Huaxia Bank and Huayin Fund, with both entities sharing a deep Beijing state-owned enterprise background [5]. - Recent management changes at Huayin Fund include the appointment of Xuan Xue Zhu, a former executive at Huaxia Bank, as the new general manager, indicating a closer operational relationship [5][6]. Group 4: Fund Performance and Challenges - Following a tumultuous period marked by management issues and regulatory scrutiny, the fund's management scale has rebounded significantly, growing from 27 billion to 207.9 billion by the end of the third quarter of 2025 [6].

Core Viewpoint - The company formerly known as Beixin Ruifeng Fund Management Co., Ltd. has officially changed its name to Huayin Fund Management Co., Ltd. as part of a brand upgrade initiative, focusing on four core development directions: quality, market orientation, digitalization, and compliance [1][2]. Company Name Change - The name change was completed on November 17, 2025, and the company will subsequently update the names of its fund products accordingly [2]. Management Changes - The company announced the departure of Deputy General Manager Wang Naili and Chief Information Officer Wei Hongsheng due to work reasons, with Wang Bo appointed as the new Chief Information Officer and Zhao Weijing as the new Inspector General [2]. - Both new executives have relevant experience in the banking sector, which may influence the company's strategic direction [2]. Market Speculation - The management changes and rebranding have sparked speculation regarding potential changes in the company's ownership structure, particularly rumors about Huaxia Bank's interest in acquiring the company [2]. - Huaxia Bank's executive Xuan Xuezh柱 has been appointed as the company's General Manager, indicating a closer relationship between the two entities [2]. Shareholding Structure - The company's two major shareholders are Beijing International Trust Co., Ltd. and Laizhou Ruihai Investment Co., Ltd., holding 60% and 40% respectively, with no changes in the shareholding structure reported [3]. Fund Size Growth - Huayin Fund has experienced significant growth in its asset size, reaching a historical high of 20.79 billion yuan by the end of Q3 this year, a substantial increase from 2.706 billion yuan at the end of Q2, marking a quarter-on-quarter increase of 6.68 times [3]. - The company's industry ranking improved from 163rd to 118th as a result of this growth [3]. Strategic Focus - The new management aims to promote a transition from a "personalized" to a "platform-based" investment research structure, enhancing collaboration with traditional banking channels while also strengthening its presence on internet platforms [5].

Core Viewpoint - Beixin Ruifeng Fund has rebranded to Huayin Fund Management Co., Ltd. following significant growth in assets under management, reaching over 20 billion yuan, driven by a single fund attracting 17.1 billion yuan in the third quarter [1][2][5]. Group 1: Company Name Change - The company officially announced its name change on November 19, completing the necessary registration procedures and planning to apply for a new securities and futures business license [2]. - The name change is primarily aimed at brand upgrading and positioning, reflecting changes in management and operational structure [3]. Group 2: Management Changes - Significant management changes occurred just before the rebranding, with multiple senior executives resigning and new appointments made, including Zhao Weijing as the new supervisor and Wang Bo as the new Chief Information Officer [4]. - The new management team is focused on enhancing the research and investment structure, shifting towards a platform-based approach [3]. Group 3: Asset Growth - In the third quarter, the fund's management scale surged to 20.79 billion yuan, up from 2.7 billion yuan at the end of the previous half-year, with over 160 billion yuan in subscriptions [5]. - The Beixin Ruifeng Ding Sheng Short-term Bond Fund contributed significantly, attracting over 17 billion yuan, with nearly 100% of its shares held by individual investors [6]. Group 4: Future Development Strategy - The company aims to focus on four core development directions: boutique, market-oriented, digital, and compliant operations, to strengthen its foundation for future growth [6].

Core Viewpoint - The company has experienced significant growth in assets under management, reaching 207.9 billion yuan in Q3, driven by a single fund attracting 17.1 billion yuan in subscriptions, leading to a rebranding from Beixin Ruifeng Fund to Huayin Fund [1][3][4] Company Name Change - On November 19, the company officially announced its name change to "Huayin Fund Management Co., Ltd." after completing the necessary registration procedures [1] - The name change is primarily aimed at brand upgrading and positioning, with no impact on existing contracts or legal relationships [2][3] Management Changes - The company underwent a significant management overhaul just before the name change, with multiple senior executives resigning and new appointments made [2][3] - The new management is focused on transforming the investment research structure and enhancing collaboration with traditional banking channels and internet platforms [2][4] Asset Growth - In Q3, the company saw its assets under management surge from 2.7 billion yuan at the end of the first half to 207.9 billion yuan by the end of Q3, with 22 funds and 6 fund managers [3][4] - The "Beixin Ruifeng Ding Sheng Short-term Bond Fund" was a major contributor, accounting for over 17 billion yuan of the total, with nearly 100% of its shares held by individual investors [3][4] Strategic Focus - The company has identified four core development directions: boutique, market-oriented, digitalization, and compliance, to strengthen its foundation for future growth [4]

本报讯 （记者彭衍菘）11月19日，原北信瑞丰基金管理有限公司公告称，公司名称变更为"华银基金管理有限公司"（以下 简称"华银基金"）。 | 基金管理人名称 | 华银基金管 | | --- | --- | | 公告依据 | 《中华人目 信息披露窄 | | 法定名称变更日期 | 2025-11-1 | | 变更前基金管理人法 | 北信瑞丰麦 | | 定名称 | | | 变更后基金管理人法 | 华银基金管 | | 定名称 | | （编辑 李家琪 郭之宸） (1)公司名称由"北信瑞丰基á (2)公司名称变更已完成工商? 中国证监会申请更换经营证券期货1 (3) 公司章程相关条款已相应] (4)公司名称变更后,法律主体 限公司"名义签署的合同及法律文 (5)公司后续将对旗下公募基: 和其他规定媒介披露的各产品项下 (6) 投资者可以登录公司网站? 进行相关咨询。 特此公告。 公告显示，该公司名称变更已完成工商变更登记手续，公司章程相关条款已相应更改，后续将对旗下公募基金产品名称进 行相应变更。 据华银基金相关人员向《证券日报》记者透露："此次更名系出于品牌升级、品牌定位的考虑。公司管理层立足行业发展 趋势与自身资源禀 ...

Core Viewpoint - The recent name change of Beixin Ruifeng Fund to Huayin Fund is seen as a significant signal of Huaxia Bank's impending acquisition of the fund management company [2][3] Group 1: Name Change and Branding - On November 19, Beixin Ruifeng Fund announced its name change to Huayin Fund Management Co., Ltd., effective from November 17 [3] - The new logo adopted by Huayin Fund aligns with Huaxia Bank's iconic "dragon-shaped square hole money" design, reinforcing market expectations of the acquisition [2][3] Group 2: Company Background and Management Changes - Huayin Fund, originally established in March 2014, was co-founded by Beijing International Trust Co., Ltd. and Laizhou Ruihai Investment Co., Ltd., with a registered capital of 170 million yuan [3] - The company recently underwent a significant management reshuffle, with new appointments including Zhao Weijing as the Chief Compliance Officer and Wang Bo as the Chief Information Officer [4] Group 3: Growth and Strategic Direction - As of the end of Q3 this year, Huayin Fund's public fund management scale reached 20.79 billion yuan, a substantial increase from 2.706 billion yuan at the end of Q2, marking a growth of approximately 650% [3] - The new management has outlined four core strategic directions: "premiumization, marketization, digitalization, and compliance" [5] - The company aims to transition from a personalized to a platform-based investment research structure and is revising its compensation and assessment systems [5]

Core Viewpoint - The company formerly known as Beixin Ruifeng Fund Management Co., Ltd. has officially changed its name to Huayin Fund Management Co., Ltd., marking a significant rebranding effort aimed at enhancing its market presence and service capabilities [1][4]. Group 1: Name Change Announcement - The name change has been officially registered with the relevant authorities, and the company is in the process of applying for a new securities and futures business license from the China Securities Regulatory Commission [1]. - Prior to the announcement, a "Huayin Fund" verified account appeared on online platforms, confirming rumors of the name change [3]. Group 2: Reasons for Rebranding - The rebranding is primarily driven by the need for brand upgrading and precise brand positioning, with the goal of better serving investors and enhancing overall service capabilities [4]. - The new logo of Huayin Fund is similar to that of Huaxia Bank, leading to speculation that Huayin Fund may evolve into a "bank-affiliated" fund company [4]. Group 3: Shareholder Structure and Future Prospects - Currently, Huayin Fund has two shareholders: Beijing Trust holds a 60% stake, while Laizhou Ruihai Investment Co., Ltd. owns 40% [4]. - The company has stated that there are no current changes in shareholding, but any future developments will be announced promptly [4]. Group 4: Management Changes - On the day before the name change, Huayin Fund announced three personnel changes, including the departure of Deputy General Manager Wang Naili and Chief Information Officer Wei Hongsheng for personal reasons [4]. - Wang Bo has been appointed as the new Chief Information Officer, bringing extensive experience in information technology governance and digital transformation [4][5]. - Zhao Weijing has been appointed as the new Inspector General, with a background in risk control and legal compliance [5]. Group 5: Leadership Changes - In August, the chairman of Beixin Ruifeng was changed to Liu Yanlei, following the previous chairman's removal due to regulatory concerns [6]. - Liu Yanlei has a strong background in banking and has held various significant positions within Beijing Bank [6]. - The former general manager, Liu Xiaoling, also left the company, and the new successor, Xuan Xuezh柱, comes from Huaxia Bank [6].