Group 1 - The company has established a strong brand matrix over 21 years, with the core brand "Zhou Li Fu" and emerging sub-brands "CHAOJIN" and "FENS" to create a diversified and complementary brand ecosystem [2] - The company aims to innovate and optimize its brand operation model to create a new profit growth engine, enhance offline store expansion, and increase single-store revenue and market share [2] - The main brand "Zhou Li Fu" has a large store network that has undergone structural adjustments for efficient optimization and quality upgrades [2] Group 2 - The two emerging sub-brands are experiencing rapid development with significant market potential, where "CHAOJIN" focuses on trendy and personalized gold products for young consumers, and "FENS" emphasizes strong design and light luxury embedded products for high-end demands [3] - The company has launched a "Co-Creation Partner Program" to collaborate with capable provincial agents, sharing brand authorization, wholesale sales, and multiple revenue sources to accelerate market penetration and sales growth for the sub-brands [3] - This program is expected to enhance resource complementarity, risk-sharing, and benefit-sharing, further solidifying the company's leading position in the jewelry industry [3]

Core Insights - Company has established a diversified brand ecosystem centered around its main brand "Zhou Li Fu" and emerging sub-brands "CHAOJIN" and "FENS" [1][2] - The company aims to innovate and optimize its brand operation model to create new profit growth engines, enhance store expansion, and increase single-store revenue and market share [1] - The introduction of a new "joint venture store" model is expected to mitigate investment risks and stimulate store opening enthusiasm, leading to an increase in store numbers and revenue [1] Brand Development - The sub-brands "CHAOJIN" and "FENS" are experiencing rapid growth and have distinct market positioning, targeting young consumers with trendy and personalized gold products and high-end embedded products, respectively [2] - The company has launched a "co-creation partner program" to collaborate with capable provincial agents, allowing for shared brand authorization and sales benefits, which will accelerate market penetration and sales growth for the sub-brands [2] Market Performance - Zhou Li Fu was founded in Shenzhen in 2004 and went public on the Hong Kong Stock Exchange on June 26 this year, with its stock price increasing by 82.38% from the issue price, resulting in a market capitalization of HKD 19.087 billion as of October 28 [2] - Huaxin Securities has noted that the company is optimizing its business model and adjusting product structures according to market demand, which is expected to lead to sustained profit release as brand momentum deepens [2]

Core Insights - The company has established a strong brand matrix over 21 years, with the main brand "周六福" and emerging sub-brands "CHAOJIN潮金" and "FENS" [1][2] - The company aims to innovate and optimize its brand operation model to create a new profit growth engine, enhance store expansion, and increase single-store revenue and market share [1] - A new "joint venture store" model has been introduced to collaborate with strong franchisees, focusing on opening "three good stores" (excellent location, quality products, and outstanding operations) [1] Brand Development - The sub-brands "CHAOJIN潮金" and "FENS" are in a rapid growth phase, targeting different market segments: "CHAOJIN潮金" focuses on trendy and personalized gold products for young consumers, while "FENS" emphasizes strong design and light luxury for high-end demands [2] - The company has launched a "co-creation partner plan" to collaborate with capable provincial agents, forming joint operational entities to deepen cooperation [2] - This plan aims to accelerate market penetration and sales growth for the sub-brands, further solidifying the company's leading position in the jewelry industry [2]

Group 1 - The core brand "Zhou Liufu" has established a strong brand matrix with emerging sub-brands "CHAOJIN" and "FENS," creating a diversified and complementary brand ecosystem [1] - The company aims to innovate and optimize its brand operation model to create a new profit growth engine, enhance offline store expansion, and increase single-store revenue and market share [1] - The introduction of a new "joint venture store" model with strong franchisees is expected to enhance store quantity and single-store revenue, positively impacting the company's performance [1] Group 2 - The emerging sub-brands "CHAOJIN" and "FENS" are experiencing rapid growth and have significant market potential, with distinct positioning from the main brand [2] - "CHAOJIN" focuses on trendy, personalized gold products targeting young consumers, while "FENS" emphasizes strong design and light luxury embedded products for high-end demands [2] - The "Co-creation Partner Program" aims to collaborate with capable provincial agents to establish joint brand operations, sharing multiple revenue sources and accelerating market penetration for the sub-brands [2]

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. 兩 個 新 興 子 品 牌 正 處 於 高 速 發 展 階 段，市 場 潛 力 較 大，並 與 主 品 牌 形 成 鮮 明 差 異 化 定 位：「CHAOJIN潮 金」專 注 潮 流 時 尚、個 性 化 的 黃 金 產 品，引 領 年 輕 消 費 者 的 時 尚 風 潮；「FENS」則 強 調 設 計 感 強 烈、輕 奢 年 輕 化 的 鑲 嵌 產 品，滿 足 追 求 品 質 與 創 新 的 高 端 需 求。針 對 這 些 子 品 牌 的 特 性，本 公 司 推 出「共 創 合 夥 人 計 劃」，即 精 選 志 同 道 合、實 力 出 眾 的 省 級 代 理 商，共 同 成 立 品 牌 合 資 運 作 主 體，展 開 深 度 全 面 合 作。通 過 這 一 平 台，合 作 ...

Core Viewpoint - Zhou Shifu (06168.HK) experienced a significant increase in stock price, rising over 5% in the afternoon trading session, indicating positive market sentiment towards the company [1] Group 1 - The stock price of Zhou Shifu reached 43.82 HKD, reflecting a gain of 4.73% at the time of reporting [1] - The trading volume for Zhou Shifu amounted to 74.53 million HKD, suggesting active investor interest [1]

Core Viewpoint - The retail sales of gold, silver, and jewelry in China showed significant growth, with a year-on-year increase of 9.7% in September 2025 and a cumulative growth of 11.5% from January to September, outperforming overall retail sales growth [1] Group 1: Industry Performance - The jewelry retail sector's strong performance is attributed to the rise in gold prices compared to the previous year [1] - The influence of national cultural trends has led consumers to be more willing to pay a premium for product craftsmanship [1] Group 2: Company Insights - Chow Tai Fook (周六福) saw its stock price increase by over 5%, closing at 43.82 HKD with a trading volume of 74.53 million HKD [1] - As a leading jewelry enterprise, Chow Tai Fook is optimizing its business model by adjusting product structure based on market demand and exploring both lower-tier and high-end markets [1] - The company is enhancing its online channel strategies to capture e-commerce traffic benefits, which is expected to drive profit growth as brand strength deepens [1]

Group 1 - The establishment of Zhou Li Fu He Tai (Chongqing) Jewelry Co., Ltd. has been reported, with a registered capital of 61.68 million RMB [1] - The legal representative of the new company is Li Wei Peng, indicating a potential leadership structure [1] - The business scope includes retail and wholesale of jewelry, manufacturing of jewelry, and manufacturing and sales of watches and timing instruments [1] Group 2 - Zhou Li Fu (06168.HK) and Jia Hui Dong Xu (Beijing) Commercial Management Co., Ltd. are the joint shareholders of the new company, suggesting a strategic partnership [1]

Group 1 - The U.S. Treasury Secretary announced sanctions against Russia's two largest oil companies, emphasizing the need for an immediate ceasefire between Russia and Ukraine [2] - This marks the first new sanctions against Russia during President Trump's second term, with the President canceling a planned meeting with President Putin, citing inappropriate timing [2] - The sanctions target state-owned Rosneft and private company Lukoil, although the effective date of the sanctions was not specified [2] Group 2 - The gold price quoted by Zhou Liufu on October 23, 2025, remained unchanged at 1145 yuan per gram, with platinum and gold bar prices also stable at 584 yuan per gram and 1040 yuan per gram, respectively [3]

Price Summary - The price of physical gold from Zhou Li Fu is quoted at 1179 CNY per gram on October 20, 2025, down by 25 CNY from the previous trading day [1][2] - Platinum is priced at 598 CNY per gram, a decrease of 6 CNY from the previous trading day [1][2] - Gold bar prices are quoted at 1074 CNY per gram, also down by 25 CNY from the previous trading day [1][2] Historical Comparison - On October 18, 2025, the prices were as follows: gold at 1204 CNY per gram, platinum at 604 CNY per gram, and gold bars at 1099 CNY per gram [2]