沪上阿姨公告，根据管理办法、指引及考虑到本公司自股东接获参与H股全流通的意向，于2025年7月4 日，董事会已考虑及批准建议实施本公司若干股东持有的本公司不超过35,255,992股境内未上市股份转 为本公司H股(H股全流通)，占本公司于本公告日期已发行股本总额约33.51%。本公司境内未上市股份 转为H股最终数量以中国证监会备案及联交所批准数量为准。 8月22日，恒生指数公司宣布截至2025年6月30日之恒生指数系列季度检讨结果，其中沪上阿姨(02589) 获纳入恒生综合指数，变动将于9月5日(星期五)收市后实施并于9月8日(星期一)起生效，届时沪深交易 所会相应调整港股通可投资标的范围。据华泰证券研报，沪上阿姨有可能被调入港股通，因其满足了包 括市值、流动性和上市时间等在内的一系列标准。 ...

博雷顿(01333)发布公告，于2025年8月8日，公司获悉中国证监会已受理公司代表公司若干股东向中国 证监会递交的关于建议实施H股全流通的备案申请。在取得所有相关批准(包括中国证监会备案及联交 所的批准等)并符合所有适用的法律、法规及规章后，公司若干非上市股份将转换为公司的H股，并在 联交所主板上市及买卖。 ...

Investment Dynamics - UK hedge fund Parvus has increased its stake in Kering to 5% [1] Financing Dynamics - UK affordable luxury brand Rise & Fall has completed a new funding round totaling £4 million, with £1.4 million from Wealth Club, aimed at supporting its five-year growth strategy [6] - Rise & Fall has achieved annual revenue growth of 100% since its inception three years ago, enhancing its brand appeal [6] Acquisition Dynamics - French-Swiss entrepreneur Dan Mamane has successfully acquired the sports brand Le Coq Sportif, which has faced operational challenges and filed for bankruptcy protection in 2024 [9] Listing Dynamics - Tea brand Hu Shang Ayi announced plans to implement an H-share full circulation plan, converting up to 35,255,992 domestic unlisted shares into H-shares, representing approximately 33.51% of its total issued share capital [11] Brand Dynamics - LV Beauté is set to open its first store in Nanjing, China, featuring a range of high-end beauty products, marking LVMH's accelerated expansion in the Chinese beauty market [13] - The French regulatory authority DGCCRF has fined SHEIN €40 million for misleading promotional practices, highlighting the need for compliance and transparency in the fast fashion sector [16][17] - Dior has expanded its collaboration with UNESCO through the "Women Dior" program, providing guidance to 2,500 women from 140 countries [20] Personnel Dynamics - Isabel Marant has appointed Sophie Condroyer as the new Chief Marketing Officer, bringing over 17 years of experience in the fashion and luxury industry [21] - LVMH has appointed Michael Burke as the Chairman and CEO of its Americas division to enhance its business presence in North and South America [24] - Galeries Lafayette has appointed Arthur Lemoine as the new CEO, marking a new growth phase for the company [27]

Core Viewpoint - The increasing enthusiasm for converting domestic shares to H-shares among Hong Kong-listed companies is evident, with HuTongDa Network applying to convert 349,749,813 domestic shares to H-shares, which will increase the H-share proportion to 94.21% after completion [1][2][4]. Group 1: Company Actions - HuTongDa Network has submitted an application to the China Securities Regulatory Commission (CSRC) to convert 349,749,813 domestic shares into H-shares, which represents approximately 91.48% of the total domestic shares and about 62.17% of the total share capital [2]. - After the conversion, the total number of H-shares will increase to 530,016,152, making up 94.21% of the total share capital, while domestic shares will decrease to 32,553,685, accounting for 5.79% [2]. - The company has 23 shareholders participating in the conversion, with the largest shareholder, the chairman Wang Jianguo, converting 114 million domestic shares to H-shares [2]. Group 2: Market Context - The H-share market still has a significant amount of domestic shares that cannot be traded, unlike the A-share market, which has already achieved full circulation [1][4]. - The CSRC has been promoting the conversion of domestic shares to H-shares since 2019, and recent regulatory changes have simplified the process, allowing for faster conversions [4][6]. - The market environment has improved, with a notable increase in trading volume in the Hong Kong market, which is driving more companies to consider converting their domestic shares to H-shares [7]. Group 3: Industry Trends - There has been a noticeable increase in the number of companies applying for full circulation of H-shares, with 11 companies obtaining approval for conversion in the last three months, surpassing the total applications from the previous year [6]. - The trend of converting domestic shares to H-shares is expected to continue, with more state-owned enterprises and leading technology firms likely to join this movement [7].

Group 1 - The Shanghai Stock Exchange's benchmark market-making bond ETFs have collectively surpassed 100 billion yuan, with a total scale of nearly 48 billion yuan as of June 10, representing a 300% increase from the issuance scale [1] - The Shenzhen Stock Exchange is set to welcome "H+A" listed companies, which is expected to bring more quality listing resources and new opportunities for the A-share market [1] Group 2 - BMW's 5 Series has seen a price drop of 180,000 yuan within six months, with a nearly 40% decline in its five-year resale value [2] - Google has offered voluntary severance packages to employees across multiple departments, including its core engineering and search teams, as part of its latest workforce reduction efforts [2] Group 3 - Volkswagen announced a leadership change, appointing Kai Ze Kai as the new CEO for its passenger car brand in China, effective July 1, 2025 [3] - The wholesale price of the 25-year Flying Moutai has dropped below 2,000 yuan per bottle, indicating a price decline in the liquor market [3] Group 4 - The founder of Pang Dong Lai estimates the company's net profit for 2025 to be around 1.5 billion yuan, with an average monthly income of 9,000 yuan for over 8,000 employees [3] Group 5 - Tencent has established an executive committee for its online video business unit, with Sun Zhonghuai appointed as chairman [4] - Industrial Securities has announced a leadership change, with Su Junliang appointed as the party secretary [4] Group 6 - Yilian Biotech has hired banks to arrange its IPO in Hong Kong, aiming to raise over 100 million USD [5] - October Rice Field has received a notice from the China Securities Regulatory Commission regarding its H-share full circulation application [5] Group 7 - New City Development plans to fully repurchase its 300 million USD offshore bonds maturing in July [5] - Rongfa Nuclear Power intends to issue non-public corporate bonds totaling no more than 1 billion yuan [5] Group 8 - Changyuan Donggu has been designated as a supplier for a well-known domestic automaker's engine cylinder body semi-finished product project, with an expected total sales amount of 450 million to 500 million yuan over five years [6] Group 9 - Huaxia Bank has received approval from the National Financial Regulatory Administration for the appointment of Zhang Chuanliang as a director [7][8] Group 10 - Dinglong Co. plans to acquire an 8% stake in its subsidiary, Dinghui Microelectronics, for 240 million yuan, increasing its ownership from 91.35% to 99.35% [9] Group 11 - The Shanghai Composite Index rose by 0.52% to surpass 3,400 points, with significant gains in rare earth and automotive parts sectors [10]

Group 1: Company Strategies and Developments - JiuGuiJiu has reduced its SKU by 50%, eliminating low-sales and non-growth potential products, and is focusing on a "2+2+2" strategic product system [1] - BaiGuoYuan Group has submitted an application to the China Securities Regulatory Commission for H-share full circulation, converting approximately 85.45 million non-listed shares into H-shares [2] - XiWang Food is committed to improving its sports nutrition business despite recent underperformance, citing long-term market potential and brand recognition [3] Group 2: Financial Performance and Projections - Vitasoy International expects a profit increase of approximately 94% to 111% for the fiscal year ending March 31, 2025, driven by improved operating profits in mainland China and Hong Kong [6] - NaiXue's Tea opened its 8th store in Southeast Asia in Chiang Mai, generating nearly 3.5 million Thai Baht (approximately 770,000 RMB) in its first month [9] Group 3: Market Reactions and Consumer Engagement - Luckin Coffee denied reports of price reductions, stating that it is offering promotional coupons for the Dragon Boat Festival and Children's Day instead [8] - WuFangZhai is gifting zongzi gift boxes to shareholders to promote traditional culture and gather feedback on its products [4] Group 4: Regulatory and Legal Matters - SanZhiSongShu has submitted its H-share issuance application to the Hong Kong Stock Exchange, which has been accepted by the China Securities Regulatory Commission [7] - DaRunFa clarified that it has restructured its operational zones from five to four, denying any plans to eliminate the Northeast region [12] - WanChen Group announced that its chairman, Wang JianKun, has had his detention lifted and is resuming his duties [13]