"Solid Gold and Silver" - Chairman of YSB (09885) Increases Holdings for the 4th Time.

According to the equity disclosure information publicly released by HKEX, since March 2026, YSB (09885) Chairman and CEO, Zhang Buzhen, has recently increased his company's shares in the public market four times in a row. The latest record shows that he increased his company's shares by 100,000 ordinary shares through affiliated entity MIYT Holdings Limited on April 22, 2026, at an average price of HK$5.65 per share, involving approximately HK$565,000. After this increase, Zhang Buzhen's shareholding ratio has risen to 22.85%. Previously, on March 24th, YSB announced that they conditionally granted 26.041 million stock options to Chairman and CEO Zhang Buzhen. The exercise price of the incentive plan is the average closing price of the five business days before the grant date, which is HK$4.608. The vesting conditions of the options are directly linked to the company's market value targets: the company must achieve average market values of HK$12 billion, HK$20 billion, and HK$30 billion for 10 consecutive business days respectively in order to vest corresponding numbers of options in batches. The announcement stated that the awarded options are sourced from the company's treasury shares, and exercising them will not increase the total share capital. In 2025, the company's performance was outstanding. During the reporting period, YSB achieved operating income of RMB 20.97 billion, an increase of 17.1% compared to 2024. Net profit attributable to the owners of the parent company was RMB 153 million, a year-on-year increase of 409.7%; adjusted net profit was RMB 237 million, a year-on-year increase of 51.2%. In terms of business, the high-gross-margin "brand first" business transaction volume reached RMB 2.445 billion, a year-on-year increase of 111.2%. Among them, the transaction volume of own brands was approximately RMB 1.937 billion. In terms of user data, by the end of 2025, the company's downstream business had covered 98.9% of counties and 91.2% of townships nationwide. The average monthly active buyers were 461,000, an increase of 6.5% year-on-year; and the average monthly paid buyers were 435,000, with a stable payment rate of 94%. From a market perspective, the continuous increase in holdings by senior executives after the performance announcement is usually interpreted as releasing multiple positive signals. The fact that the chairman used his own funds to continuously increase holdings directly reflects his confidence in the current valuation level and future growth potential of the company. Additionally, this action deeply binds the personal interests of the management team with the long-term value of the company, echoing the stock incentive plan linked to high market value targets introduced at the same time, which helps convey a signal of high alignment between management and shareholder interests to the market. Furthermore, combined with the company's net profit growth of over four times in 2025, the management's increase in holdings is seen as an endorsement of this "report card", or will enhance investors' recognition of the company's profit sustainability and business development prospects. Public data shows that in recent years, Zhang Buzhen's pre-tax basic annual salary is approximately around HK$800,000, which is not high compared to other Hong Kong-listed companies. This also reflects his belief in deeply linking his compensation structure with shareholder interests, where individual income is tied to the long-term market capitalization performance of the company, rather than relying on fixed salary, thus achieving a high degree of synergy between his own return and investor return.