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之內 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。 Zhou Liu Fu Jewellery Co., Ltd. 周六福珠宝股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6168） 自願性公告 H股回購授權 本 公 告 乃 由 周 六 福 珠 宝 股 份 有 限 公 司（「本公司」，連 同 其 附 屬 公 司，統 稱 「本集團」）自 願 作 出，以 向 本 公 司 股 東（「股 東」）及 潛 在 投 資 者 提 供 有 關 本 集 團 發 展 之 最 新 情 況。 本 公 司 擬 向 股 東 大 會 尋 求 一 項 授 權（「H股回購授權」），授 權 本 公 司 董 事 會（「董事會」）回 購 本 公 司H股（「H股」），以 保 障 股 東 利 益，並 綜 合 考 慮 本 集 團 的 經 營 狀 況 及 業 務 前 景。 – 2 – (i) 根據香港聯合交易所有 ...

同时，王帆强调，企业出海应加强与国家整体外交布局的融合，通过企业行动助力中国形象提升。 他还提醒，企业出海不能仅考量性价比与产业链效率，还需综合权衡地缘安全、社会共荣等因素， 将"合作共赢"理念落到实处。 作为行业代表企业之一，成立于2004年的周六福已于今年成功登陆港交所。李伟柱介绍，经过深入 调研，2023年起周六福正式布局海外市场。不同于部分行业优先设立制造工厂的出海模式，周六福将品 牌与文化输出作为核心方向，依托中国强大的珠宝供给能力与特色工艺（如5D、古法金等），在东南亚 等华人集中区域获得了市场认可。目前，周六福已成为国内珠宝行业出海的先行者之一，这也印证了海 外市场的巨大潜力。 同时，李伟柱坦言，中国珠宝行业出海的核心优势在于中国文化和精湛工艺，这让周六福的产品在 东南亚等新兴市场获得了较高接受度。且当前东南亚黄金珠宝市场潜力庞大，中国品牌正迎来难得的发 展机遇。 基于这些问题，李伟柱现场向外交学院前院长、中国国际关系学会副会长王帆请教了关于珠宝行业 出海东南亚、北美市场的建议以及支撑品牌在海外市场长久发展的要素等问题。 对此，王帆从国际关系研究视角给出了多维度建议。他指出，当前企业出海已进入全 ...

附表： 2025年12月04日，实物黄金周六福黄金黄金报价1289元/克，相比上一个交易日保持不变。铂金价格今 天报价613元/克，相比上一个交易日保持不变。金条价格今日价格报价1184元/克，相比上一个交易日 保持不变。 附表： 周六福 黄金价格 铂金价格 金条价格 单位 | 2025年12月04日 | 1289 | 613 | 1184 | 元/克 | | --- | --- | --- | --- | --- | | 2025年12月03日 | 1289 | 613 | 1184 | 元/克 | 金投网提示：以上报价仅供参考，据此交易，风险自担。 基本面： 匈牙利外交与对外经济部长西雅尔多·彼得3日表示，匈牙利将就欧盟逐步禁止进口俄罗斯能源的决定向 欧盟法院提起诉讼，认为该决定损害其能源安全且违反欧盟条约。 2025年12月04日，实物黄金周六福黄金黄金报价1289元/克，相比上一个交易日保持不变。铂金价格今 天报价613元/克，相比上一个交易日保持不变。金条价格今日价格报价1184元/克，相比上一个交易日 保持不变。 周六福 黄金价格 铂金价格 金条价格 单位 | 2025年12月04日 | 1289 ...

企查查APP显示，近日，深圳市周六福互联网品牌运营管理有限公司成立，法定代表人为李伟蓬，经营范围包含：珠宝首饰批发；珠宝首饰制造；珠宝首饰 回收修理服务；互联网销售（除销售需要许可的商品）；品牌管理等。企查查股权穿透显示，该公司由周六福（06168.HK）、陈楚忠等共同持股。 | 什自 合 缔造有远见的商业传奇 | 深圳市周六福互联网品牌运营管理有限公司 全国企业信用查询系 | | × 音一下 | | 公山中心 C | | --- | --- | --- | --- | --- | --- | | 基本信息 11 | 法律诉讼 知识产权 | 经营风险 | 经营信息 企业发展 | | 月 | | 统一社会信用代码 | 91440300MAK2F2FB88 | 企业各称 | 深圳市周六福互联网品牌运营管理有限公司 | | | | 法定代表人 | 李伟蓬 念关联企业 66 | 登记状态 | 存续 | 成立日期 | 2025-11-28 | | | | 注册资本 | 500万元 | 实缴资本 | | | 组织机构代码 | MAK2F2FB-8 | 工商注册号 | 440300227647031 | 纳税人识别号 | ...

（文章来源：证券日报） 本报讯 （记者袁传玺）天眼查工商信息显示，近日，深圳市周六福互联网品牌运营管理有限公司成 立，注册资本500万元，经营范围包括珠宝首饰批发等。股东信息显示，该公司由周六福珠宝股份有限 公司、陈楚忠、徐业新共同持股。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 周六福珠宝股份有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06168 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 273,688,883 | RMB | | 1 RMB | | | 273,688,883 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | 0 | | 本月底結存 | | | 273,688,883 | RMB | | 1 RMB | | | 273,688,883 | | 2. 股份分類 | 普 ...

Price Movements - The price of physical gold from Zhouliufu is quoted at 1257 CNY per gram on November 18, 2025, down by 14 CNY from the previous trading day [1] - Platinum is priced at 594 CNY per gram, a decrease of 4 CNY from the previous day [1] - Gold bar prices are quoted at 1152 CNY per gram, also down by 14 CNY from the previous trading day [1] Market Context - Saudi Crown Prince Mohammed bin Salman is visiting Washington and will hold a U.S.-Saudi Investment Forum on November 19 at the John F. Kennedy Center for the Performing Arts [1] - The forum is expected to gather CEOs from top U.S. companies, including Chevron, Qualcomm, Cisco, General Dynamics, and Pfizer [1]

Investment Rating - The investment rating for Zhou Li Fu (6168.HK) is not explicitly stated in the provided documents, but the overall tone of the report suggests a positive outlook based on strong performance metrics and growth potential. Core Insights - Zhou Li Fu's e-commerce subsidiary reported a total shipment value of 287 million yuan during the "Double Eleven" event, reflecting a year-on-year increase of 35.3% with a gross margin of 22.05%, up nearly 10 percentage points year-on-year. The e-commerce business revenue for the first ten months of 2025 increased by 32%, and net profit surged by 71%, with a net profit margin exceeding 8% [1][2]. - The company has optimized its operational efficiency and deepened collaborations with e-commerce platforms, leading to a significant increase in online sales, particularly during the "618" event where total GMV exceeded 700 million yuan, marking a 36% year-on-year growth [2]. - The company is actively exploring overseas markets, with plans to open up to 10 new stores abroad by 2026 and enhance its e-commerce presence through partnerships with platforms like Amazon [2]. Financial Performance Summary - For the first half of 2025, Zhou Li Fu's gross margin was 26.3%, an increase of 0.8 percentage points year-on-year, attributed to a focus on lighter and more fashionable product designs [3]. - The company's revenue projections for 2025 to 2027 are as follows: 6.278 billion yuan in 2025, 7.242 billion yuan in 2026, and 8.201 billion yuan in 2027, with corresponding net profits of 841 million yuan, 984 million yuan, and 1.129 billion yuan respectively [6][8]. - The report indicates a steady decline in expense ratios, with sales, management, and R&D expenses showing slight reductions, contributing to improved profitability [3]. Operational Insights - The company has seen a structural adjustment in its domestic offline channels, focusing on enhancing store operations and efficiency, with nearly 50% of its stores located in first and second-tier cities [2]. - The average store size has increased to approximately 110 square meters, and over 55% of the stores are located in shopping centers and department stores [2]. - The report highlights the company's strategy of integrating online and offline retail management, which has effectively attracted younger consumers through high-value products [2].

Core Insights - The article highlights the impressive performance of Zhou Li Fu during the 2025 Double Eleven shopping festival, achieving a total shipment value of 287 million yuan, representing a year-on-year growth of 35.28% [1][2] - Zhou Li Fu's stock price has increased by over 28% since October 23, reflecting positive market sentiment towards the company's performance [1] Group 1: Performance in Context - The overall gold consumption market in China is experiencing structural adjustments, with a reported decline in gold jewelry consumption by 32.50% year-on-year, while investment products like gold bars and coins saw a 24.55% increase [2][3] - Zhou Li Fu achieved a comprehensive gross margin of 22.05%, an increase of approximately 10 percentage points year-on-year, indicating strong brand power despite industry challenges [3] Group 2: Product and Channel Strategy - Zhou Li Fu's success is attributed to a systematic innovation in product matrix and channel layout, allowing the company to build a competitive edge in a declining market [4] - The brand has developed a differentiated product matrix, including the main brand "Zhou Li Fu," "CHAOJIN潮金" targeting Gen Z, and "FENS" for the high-end market, effectively covering various consumer segments [4] - The company has implemented a "co-creation partner program" to accelerate market expansion through collaboration with capable provincial agents [4] Group 3: Online Channel Optimization - The increasing online penetration of gold jewelry consumption has been a key factor in Zhou Li Fu's success during Double Eleven, with strategies such as exclusive live-streaming promotions and enhanced online customer service [5][6] - The company capitalized on the trend of consumers shifting to online platforms, where prices are generally lower than offline, thus improving conversion rates [6] Group 4: Industry Implications - The article suggests that the core competitiveness of brands will shift from price competition to value competition, emphasizing the importance of consumer-centric strategies [7] - Zhou Li Fu's achievements during Double Eleven serve as a case study for the industry, illustrating how brands that adapt to changing consumer demands and innovate operational models can seize market opportunities [7]

Core Insights - The 2025 "Double Eleven" event has evolved from a simple sales competition to a battleground for brand strength, particularly evident in the gold and jewelry sector [1] - During the event, Zhou Li Fu's e-commerce subsidiary achieved a total shipment value of 287 million yuan, a year-on-year increase of 35.28% [1] - Zhou Li Fu's stock price has risen over 28% since October 23, reflecting positive market sentiment towards its performance [1] Group 1: Performance in Context - Zhou Li Fu's performance must be viewed against the backdrop of a structural adjustment in the gold consumption market, which is experiencing a complex situation of "ice and fire" [2] - In the first three quarters of 2025, China's gold consumption decreased by 7.95% to 682.73 tons, with gold jewelry consumption dropping significantly by 32.50% [2] - Conversely, investment products like gold bars and coins saw a 24.55% increase in consumption, indicating a shift towards gold as an asset allocation tool rather than a decorative item [2] Group 2: Profitability and Growth - Zhou Li Fu achieved a comprehensive gross margin of 22.05%, an increase of approximately 10 percentage points year-on-year, defying the industry norm of price cuts during promotions [3] - From January to October 2025, Zhou Li Fu's e-commerce revenue grew by 32%, while net profit surged by 71%, with a net profit margin exceeding 8% [3] - The significant growth in net profit relative to revenue indicates the company's strong operational capabilities in both revenue generation and cost management [3] Group 3: Product and Channel Strategy - Zhou Li Fu's success is attributed to systematic innovations in product matrix and channel layout, which have built its core competitiveness [4] - The brand has developed a differentiated product matrix, including the main brand "Zhou Li Fu," "CHAOJIN潮金," and "FENS," catering to various consumer segments and mitigating market risks [4] - The "CHAOJIN潮金" brand targets the Gen Z market with trendy, personalized gold products, while "FENS" focuses on high-end consumers with 18K gold and diamond jewelry [4] Group 4: Online Channel Optimization - The increasing online penetration of gold jewelry consumption has been a key factor in Zhou Li Fu's success during the Double Eleven event [5] - The company capitalized on trends by establishing official flagship stores on major platforms and utilizing exclusive live-streaming promotions to enhance conversion rates [6] - Zhou Li Fu's robust online customer service and after-sales support have addressed consumer trust issues regarding gold products [6] Group 5: Future Outlook - The brand's core competitiveness is shifting from price competition to value competition, focusing on consumer-centric strategies [7] - Zhou Li Fu's approach of differentiating products, optimizing channels, and innovating operational models positions it well for long-term growth [7] - The current consumption downturn presents both challenges and opportunities for the gold jewelry industry, with brands that adapt to changing demands likely to gain market share [7]