香港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，概不對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。 （股份代號︰1836） （於開曼群島註冊成立之有限公司） 二零二五年第四季度集團業務之最新資料 九興控股有限公司（「本公司」）董事（「董事」）會（「董事會」）自願提供本公司股東（「股東」） 及潛在投資者關於本公司及其附屬公司（統稱「本集團」）於二零二五年第四季度之業務 發展最新情況。 總綜合收入 於截至二零二五年十二月三十一日止三個月，本集團未經審核綜合收入1 上升0.8%至 3.886億美元（二零二四年：3.854億美元）；於截至二零二五年十二月三十一日止十二個 月，本集團未經審核綜合收入上升1.5%至15.678億美元（二零二四年：15.451億美元）。 1 包括本集團製造業務、品牌業務及其他業務（其內容未載於此），以及分部間銷售沖銷。 製造業務 下表載列本集團鞋履製造業務於截至二零二五年十二月三十一日止三個月及十二個月 之收入、出貨量及平均銷售價格（「平均售價」）之分析： | | | 截至十二月 ...

Key Points - The report highlights a significant surge in Apple's stock price, which has positively influenced the US stock market, particularly the technology sector [8][10] - Approximately 80% of S&P 500 companies exceeded market expectations in terms of EPS and revenue, driven mainly by strong earnings in the financial and communication services sectors [8][10] - The report notes an increase in US Treasury yields, with the 10-year yield rising by 10.2 basis points to 4.298% [8][10] - The report suggests a diversified credit bond strategy to manage interest rate and inflation volatility, with an average maturity of 5 to 8 years [8] - A multi-factor alpha model, sector rotation model, and event-driven model are recommended for stock selection [8] - The report recommends bullish structured products targeting strong stocks like Apple and Nvidia to capture short-term gains [8] Market Overview - The Dow Jones Industrial Average rose by 81 points or 0.18%, while the S&P 500 and Nasdaq increased by 0.73% and 1.21%, respectively [10] - The report indicates that the US economy shows signs of slowing down, with traders increasing bets on potential interest rate cuts by the Federal Reserve [10] - President Trump signed an executive order imposing a 25% additional tariff on goods from India, raising the total tariff rate to 50% [10] - The report mentions that Apple has committed to investing $100 billion in US manufacturing over the next four years, increasing its total investment to $600 billion [10] Company Focus - XPeng Motors reported a record delivery of 36,717 vehicles in July 2025, a year-on-year increase of 229%, indicating a strong growth trajectory [20] - Nine consecutive months of deliveries exceeding 30,000 units suggest a clear turning point in profitability and valuation recovery for XPeng Motors [20] - Nine Holdings' Q2 2025 results showed a revenue increase of 2.5% in the footwear manufacturing sector, with a shipment volume growth of 4.1% [20] - The report highlights that Vobile Group is a leader in digital content copyright protection and monetization, with expectations of AI-related revenue reaching tens of millions of dollars by 2025 [20] Economic Data - China's exports for July are estimated to grow at an annual rate of 5.6%, while imports are expected to decline by 1% [18] - The trade balance for China in July is projected at $104.8 billion, with foreign exchange reserves at $3.281 trillion [18] - In the US, the non-farm productivity for Q2 is estimated to increase by 2%, with initial jobless claims for the week ending August 2 expected at 222,000 [18]