Group 1 - The core announcement is that Chuanghui Jewelry Group plans to raise approximately HKD 85 million through the placement of up to 60 million new shares, with net proceeds expected to be around HKD 82 million after expenses [1] - The placement price is set at HKD 0.141 per share, representing a discount of about 12.4% compared to the previous trading day's closing price of HKD 0.161, and a discount of approximately 19.9% compared to the average closing price over the last five trading days [1] - The new shares will account for about 20.0% of the existing issued share capital and approximately 16.7% of the enlarged share capital after the placement [1] Group 2 - Chuanghui Jewelry Group operates as an investment holding company primarily engaged in the retail of jewelry and gold products through its retail network located in Kowloon and the New Territories of Hong Kong [1] - The funds raised will be utilized for business development, operations, and general corporate purposes [1] - The placement is conducted under the general mandate granted at the shareholders' meeting and is expected to be completed within two business days after the conditions of the placement are met [1]

Group 1: Company Performance - Lao Poo Gold (6181 HK) is expected to see a net profit increase of 279% year-on-year for 1H25, reaching between RMB 2.2 billion and RMB 2.3 billion[1] - Revenue for the same period is projected to be between RMB 12 billion and RMB 12.5 billion, reflecting a year-on-year growth of 241% to 255%[1] - The net profit margin is anticipated to be between 17.8% and 19%, up from 16.7% in the previous year[1] Group 2: Market Expansion - As of June 30, 2025, Lao Poo Gold will have a total of 41 stores, with 36 in mainland China, 4 in Hong Kong and Macau, and 1 in Singapore[2] - The company plans to open 5 new stores in 1H25, accelerating its expansion compared to a net increase of 7 stores in 2024[2] - New stores are strategically located in prime business districts, enhancing customer experience and brand value[2] Group 3: Market Trends - Despite a 26% increase in gold prices in 1H25, Lao Poo Gold only raised product prices by 5% to 12% in February 2025[1] - The expected P/E ratio for the stock in 2025 is 34 times, indicating strong market confidence[2] - The overall market indices show significant year-to-date gains, with the Hang Seng Index up 27.4% and the China Enterprises Index up 25.9%[3]

Market Overview - The Hang Seng Index is facing resistance at 24,700 points, with a forecasted P/E ratio of 11 times over the next 12 months [2] - The index experienced fluctuations, reaching a high of 24,672 points before closing at 24,498 points, down 0.1% [5] Macro Focus - U.S. retail sales increased by 0.6% in June, exceeding expectations and reversing a two-month decline [3][8] - The unemployment rate for individuals aged 16 to 24 in mainland China decreased to 14.5%, marking a four-month decline [7] - The People's Bank of China conducted a reverse repurchase operation of 450.5 billion yuan, maintaining the interest rate at 1.4% [7] Company News - Luk Fook Holdings reported a 13% increase in overall retail value for the first quarter, reversing previous declines [9] - Federation Pharmaceutical is raising approximately 2.2 billion HKD through a share placement at a discount of 7.9% [9] - Ideal Auto has opened pre-orders for its i8 model, with expected prices starting from 350,000 yuan [9] - October Rice reported a projected net profit increase of at least 90% for the first half of the year [9] - Changjie Tong anticipates a profit of 31 to 37 million yuan for the first half of the year, driven by strong cloud service performance [9] Sector Insights - The biotechnology sector is expected to benefit from new measures supporting the high-quality development of innovative drugs [6] - The tourism sector is seeing an increase in cross-border traffic, indicating a potential rise in summer tourism [6] - Brokerage stocks are gaining traction as the Shanghai Composite Index surpasses 3,500 points, continuing the trend of A+H listings [6]

Market Overview - The Hang Seng Index is constrained by the March high of 24,874 points, with expectations of new financial policies from mainland China to stabilize the market, including reserve requirement ratio cuts and interest rate reductions [2] - The recent US-China trade negotiations have led to a temporary reduction in tariffs, with US tariffs on Chinese imports dropping from 145% to 30%, and Chinese tariffs on US goods decreasing from 125% to 10% for a 90-day period [2][3] - The Hang Seng Index's valuation has returned to reasonable levels, requiring significant positive developments in trade agreements and corporate earnings improvements to maintain upward momentum [2] Sector Focus - The report highlights a positive outlook for sectors such as financial stocks, automotive parts, and gold mining stocks, driven by recent developments in trade agreements and geopolitical factors [7][8] - The automotive sector in mainland China saw a year-on-year sales increase of 11.2% in May, with new energy vehicle sales rising by 36.9% [9] Company News - Horizon Robotics plans to raise approximately HKD 47 billion through a share placement at a discount of nearly 7% [10] - Kintor Pharmaceutical is preparing for an IPO in Hong Kong, aiming to raise around USD 100 million [10] - Pop Mart has expanded its production capacity but still faces supply shortages due to high demand for its products [11] - JD Logistics is expanding its operations in Saudi Arabia, having recruited over a thousand staff for its logistics services [10] - Alibaba is focusing on re-establishing its leadership in the technology sector, emphasizing AI and cloud infrastructure as key strategic pillars [10] Economic Indicators - The US Consumer Price Index (CPI) for May showed a year-on-year increase of 2.4%, with core CPI rising by 0.1% month-on-month, indicating that tariffs have not yet significantly impacted overall inflation levels [8] - The Federal Reserve is expected to maintain interest rates, with projections indicating two rate cuts totaling 0.5% for the year [4][8]

摘要 | 零售值 | 集團整體 | | | 及中國澳門特別行政區(8) | 內地 +1% | | | --- | --- | --- | --- | --- | --- | --- | | | -2% | | -11% | | | | | 產品佔比： | (9) 黃金及鉑金 | ：77% | 黃金及鉑金 | ：68% | 黃金及鉑金 | ：79% | | | 定價首飾 | ：23% | 定價首飾 | ：32% | 定價首飾 | ：21% | | 零售收入 | -1% | | -11% | | +20% | | | 同店銷售 | -10% | | -14% | | +2% | | | 店舖數目 | 3,287 | | 77 | | 3,179 | | 中國香港特別行政區(7) 備註︰ 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，概不就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。 截至 2025 年 3 月 31 日止財政年度第四季度之零售銷售表現 (1) (1) 零售銷售數據已包含集團完成收購金至尊後其 ...