The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Huaqin Co., Ltd. 華勤技術股份有限公司 (the "Company") (A joint stock company incorporated in the People's Republic of China w ...

Core Insights - Wakefit has reported a profitable Q3 FY26, achieving record quarterly revenues and significant margin improvements despite seasonal discounts and a CFO transition [1][4] Financial Performance - Profits reached ₹31.9 Cr compared to a loss of ₹2.4 Cr in Q3 FY25 [8] - Revenue from operations increased by 9.4% YoY to ₹421.3 Cr [8] - EBITDA improved by 158% YoY to ₹70.3 Cr, with margins expanding to 53.8% [8] - Total expenses rose marginally by 0.4% YoY to ₹396.7 Cr [8] Margin Expansion - The transition to profitability in Q3 was driven by gross margin expansion that offset modest top-line growth and a one-off labor code expense [2] - Operating leverage across core categories contributed to the margin improvement, despite temporary demand shifts due to GST changes [2] Omnichannel Strategy - Wakefit is diversifying beyond pure e-commerce, with own channels driving the majority of sales, enhancing pricing control and customer data depth [3] - The company has expanded its marketplace presence and opened new company-owned stores to increase reach [3] - Mattresses remain the primary revenue driver, while furniture and furnishings are gradually increasing their share [3] Post-IPO Stability - Wakefit has shown resilience post-IPO, attributed to ongoing offline store rollouts and a structured public issue that balanced fresh capital with an offer for sale (OFS) [4] - The market is closely monitoring Wakefit's ability to maintain profitability in upcoming quarters [4]

Macro News - In the first 11 months, online sales of smart robots increased by nearly 20% year-on-year, with the overall online retail sales in the country growing by 9.1% [1] - The digital products monitored by the Ministry of Commerce saw an 8.2% growth, with smart wearables and smart robots growing by 22.1% and 19.4% respectively [1] Cultural and Tourism Development - Hunan Province is supporting eligible cultural and tourism projects to apply for local government special bonds and green bonds for tourism enterprises [1] - The province aims to increase the number of duty-free shops at domestic ports and promote a "buy and refund" service for overseas travelers, optimizing the international tourism shopping environment [1] Regional Development - The National Development and Reform Commission emphasized the continuous promotion of coordinated regional development [1]