Core Viewpoint - Emperor Watch and Jewellery (00887) announced a mid-term dividend of HKD 0.0055 per share, to be distributed on September 17, 2025 [1] Company Summary - The company is set to distribute a mid-term dividend, indicating a commitment to returning value to shareholders [1]

Core Viewpoint - The company reported a positive growth in its mid-term performance for 2025, indicating a stable financial trajectory in the luxury goods sector [1] Financial Performance - Total revenue reached HKD 2.794 billion, representing a year-on-year increase of 7.6% [1] - Gross profit amounted to HKD 840 million, with a year-on-year growth of 7.7% [1] - Adjusted EBITDA was HKD 297 million, reflecting a year-on-year rise of 5.3% [1] - Profit attributable to shareholders was approximately HKD 196 million, showing a year-on-year increase of 6.37% [1] - Basic earnings per share were HKD 0.0273, with an interim dividend of HKD 0.0055 per share [1]

Core Viewpoint - The Swatch brand faced significant backlash after releasing an advertisement that featured a model making a gesture perceived as racially insensitive, leading to widespread criticism and a rapid apology from the company [1][8][10]. Group 1: Cultural Sensitivity and Brand Perception - The backlash against Swatch highlights the importance of understanding cultural context in advertising, as gestures or symbols can carry historical weight and be interpreted differently depending on the audience [4][7][12]. - The incident reflects a broader issue where brands often fail to grasp the cultural implications of their marketing strategies, leading to missteps that can damage consumer trust [19][20]. - The Swatch case is not isolated; it is part of a pattern where international brands repeatedly misinterpret cultural symbols, resulting in public outrage and calls for accountability [11][18]. Group 2: Financial Impact and Market Trends - Swatch reported a 23.7% decline in revenue in the Chinese market, significantly worse than the global average decline of 8.9%, with net profit plummeting by 88% [19][20]. - The luxury goods market in China is experiencing a downturn, with a projected overall decline of 20% to 22% in 2024, as consumers increasingly shift their luxury spending to overseas markets [20][21]. - In contrast, other luxury brands like LVMH are facing less severe financial impacts, indicating that Swatch's issues are more about lost consumer trust than broader market trends [23][24]. Group 3: Future Implications for Luxury Brands - The rise of Generation Z in China is changing the dynamics of the luxury market, with predictions that Chinese consumers will contribute nearly 40% of global luxury market growth in the coming years [24]. - There is a shift from a narrative where other markets passively accept representations to one where Chinese consumers demand authentic representation in advertising [24]. - Brands must adapt to this new reality by respecting cultural nuances and engaging with local contexts to avoid missteps that could lead to significant financial repercussions [24][25].

Core Viewpoint - Swatch has issued an apology regarding the recent attention on the model images in the Swatch ESSENTIALS series, emphasizing the company's commitment to addressing the issue and removing all related materials globally [1]. Group 1 - The company acknowledged the concerns raised about the model images in the Swatch ESSENTIALS series [1]. - Swatch has taken immediate action by deleting all related materials worldwide [1]. - The company expressed deep apologies for any offense and distress caused by the situation [1].

证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交1.78亿元，其中，买入成交额为9273.97 万元，卖出成交额为8487.29万元，合计净买入786.68万元。 具体来看，今日上榜的营业部中，共有1家机构专用席位现身，即买三、卖一，买入金额1067.59万元， 卖出金额1529.56万元，合计净卖出461.98万元。 资金流向方面，今日该股主力资金净流出2542.35万元，其中，特大单净流出507.58万元，大单资金净流 出2034.77万元。近5日主力资金净流出1.04亿元。（数据宝） 飞亚达今日下跌9.66%，全天换手率13.74%，成交额10.16亿元，振幅9.92%。龙虎榜数据显示，机构净 卖出461.98万元，营业部席位合计净买入1248.66万元。 深交所公开信息显示，当日该股因日跌幅偏离值达-8.46%上榜，机构专用席位净卖出461.98万元。 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 信达证券股份有限公司台州玉兰路证券营业部 | 4134.31 | 1.0 ...

Group 1 - Kaizhong Precision plans to invest up to 250 million yuan to establish a subsidiary and build a production base in Thailand, focusing on overseas connector and precision component business [1] - Longbo Technology reported a 60.18% year-on-year increase in net profit for the first half of 2025, with revenue of 122 million yuan, up 18.03% [2] - Dingyang Technology achieved a net profit of 76.88 million yuan in the first half of 2025, a year-on-year increase of 31.54%, with revenue of 279 million yuan, up 24.61% [4] Group 2 - Heng Rui Pharmaceutical received approval for clinical trials of two drugs, SHR-A2102 and Adebeli monoclonal antibody injection [6] - Maolai Optical plans to use up to 100 million yuan of idle funds for entrusted wealth management to improve fund utilization efficiency [8] - Shiji Information signed a major contract with MGM Grand, providing a next-generation cloud-based hotel information management system [7] Group 3 - Yunnan Germanium's subsidiary received a government subsidy of 6.8 million yuan related to revenue [9] - Jizhi Co. received a warning letter from the Zhejiang Securities Regulatory Bureau for failing to disclose significant government subsidies [10] - Dongfang Precision reported a net profit of approximately 397 million yuan for the first half of 2025, a year-on-year increase of 142.52% [11] Group 4 - Aolaide expects a net profit decrease of 68.41% to 72.77% for the first half of 2025, with revenue projected between 270 million and 290 million yuan [12] - Feilong Co. used 111 million yuan of idle funds for cash management through structured deposit products [13] - Anhui Construction won two major projects with a total investment exceeding 6.6 billion yuan [15] Group 5 - Yunnan Germanium's subsidiary received a government subsidy of 6.8 million yuan related to revenue [9] - Jizhi Co. received a warning letter from the Zhejiang Securities Regulatory Bureau for failing to disclose significant government subsidies [10] - Dongfang Precision reported a net profit of approximately 397 million yuan for the first half of 2025, a year-on-year increase of 142.52% [11] Group 6 - China Medical's subsidiary received approval for the listing of fumaric acid volnora raw materials [20] - Huayuan Vaccine's subsidiary received approval for clinical trials of Hib vaccine [29] - Ganfeng Lithium plans to integrate lithium salt lake projects in Argentina and provide financial support of up to 130 million USD [41]

Core Viewpoint - The implementation of U.S. tariffs under President Trump's policy is leading companies to pass increased costs onto American consumers, impacting their profit margins and operational space [2][3]. Group 1: Company Responses - Procter & Gamble (P&G) plans to raise prices on about 25% of its products in the U.S. market to offset new tariff costs, indicating a dual approach of cost-cutting and price increases [3][4]. - Other companies, such as EssilorLuxottica and Swatch, have also begun to implement price increases, with Swatch reporting a 5% price hike with no negative impact on sales [8]. Group 2: Market Impact - Despite a rise in U.S. stock indices driven by technology investments, many consumer goods companies are struggling, with P&G's stock down 19% since the tariff announcement [5]. - The anticipated total loss for companies due to tariffs is estimated to be between $7.1 billion and $8.3 billion for the year [6]. Group 3: Consumer Behavior - Consumers are currently not feeling the effects of the tariff increases, but inflationary pressures are expected to emerge once company inventories are depleted, likely in Q4 or early next year [7]. - There is a cautious attitude among North American consumers towards price increases, which may affect sales for major brands [5].

来源：新浪证券-红岸工作室 7月29日，中国黄金跌0.36%，成交额1.36亿元，换手率0.98%，总市值137.93亿元。 异动分析 黄金概念+培育钻石+网络直播+中字头股票+电子商务 资金分析 今日主力净流入-193.24万，占比0.01%，行业排名2/15，连续2日被主力资金减仓；所属行业主力净流 入-1.52亿，连续3日被主力资金减仓。 区间今日近3日近5日近10日近20日主力净流入-193.24万-733.36万-3257.88万-6761.73万-1.34亿 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额3984.08万，占总成交额的4.66%。 1、公司的主营业务是黄金珠宝产品的销售和委托加工。主要产品包括黄金产品、K金珠宝类产品等。 2、2023年年报：公司正式进军培育钻石新材料领域，以高新科技赋能，以"绿色、低碳、环保、创 新"为宗旨，整合上、中、下游多方资源，实现产业链延伸，打造公司创新发展的良好氛围。2023年， 培育钻石相关业务多管齐下，一是构建产品架构体系，融合经典与潮流推出95款产品，打造了"此刻高 光"和"以爱之名"等18K金镶钻产品系列和"5G手创金"等黄金镶钻产品系列。 ...

Core Viewpoint - The financial troubles of Emperor International, led by Yang Shou Cheng, have become a hot topic, with a reported loss exceeding 4 billion HKD and overdue loans amounting to 16.6 billion HKD [2][4]. Financial Performance - Emperor International reported total revenue of 1.376 billion HKD for the fiscal year 2024-2025, marking a year-on-year increase of 41.5% [4]. - However, the company's losses increased from 2.028 billion HKD to 4.84 billion HKD, representing a staggering growth of 138% in losses compared to the previous fiscal year [4]. Debt Situation - As of March 31, Emperor International has 16.6 billion HKD in bank loans that are overdue or in violation of related terms, which may trigger immediate repayment demands and raise doubts about the company's ability to continue as a going concern [4]. Market Reaction - Following the news of the financial crisis, Emperor International's stock price plummeted, and shares of related companies in the Emperor Group also experienced significant declines [5]. Company Overview - Emperor International operates across multiple sectors, including entertainment, real estate, watch and jewelry, finance, and hospitality, with seven companies listed on the Hong Kong Stock Exchange [5].

Core Viewpoint - The company, Emperor International, reported a significant financial loss for the fiscal year ending March 31, 2025, with a total revenue of HKD 13.76 billion and a loss attributable to shareholders of HKD 47.43 billion, raising concerns about its overdue bank loans totaling HKD 16.6 billion [1][2][6]. Financial Performance - Emperor International has experienced continuous losses for six consecutive years, accumulating a total loss of HKD 138.12 billion since 2020, with the latest fiscal year recording the highest loss of HKD 47.43 billion [2][3]. - The total revenue for the fiscal year 2025 was HKD 1.375 billion, compared to HKD 972.55 million in 2024, indicating a year-on-year increase [3]. - The company reported a gross profit of HKD 472.51 million for 2025, down from HKD 714.11 million in 2024 [3]. Debt Situation - As of March 31, 2025, Emperor International had HKD 16.6 billion in overdue bank loans, which have been classified as current liabilities due to potential immediate repayment demands from banks [6][8]. - The company is currently negotiating with banks for a financial restructuring plan to alleviate liquidity risks and improve its financial situation [8]. Market Conditions - The Hong Kong property market has not shown significant recovery despite some positive influences such as the lifting of market suppression measures and interest rate cuts, with ongoing weak consumer confidence affecting local retail and commercial leasing [4][5]. - The company noted that while there has been a slight recovery in the sale of new residential properties, the overall market remains sluggish [3][4]. Management Response - Emperor International is taking proactive measures to manage administrative and operational costs while planning to enhance liquidity through the sale of investment properties and rental income over the next 12 months [8]. - The company has a strong asset base and established relationships with banks, which are expected to facilitate the financial restructuring process [8].