Group 1 - The company, Chow Tai Fook (06168), announced a mid-term dividend of HKD 0.49 per share to be distributed on October 31, 2025 [1]

Group 1 - The company, Zhou Shifu (06168), announced a mid-term dividend of HKD 0.49 per share to be distributed on October 31, 2025 [1]

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。 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） (1) 2025年第二次臨時股東大會投票表決結果 及 (2)派發中期股息 召開臨時股東大會 茲提述 周六福珠寶 股 份 有 限 公 司（「本公司」）日 期 為2025年8月22日 的2025 年 第 二 次 臨 時 股 東 大 會 通 告（「臨時股東大會通告」）及 通 函（「通 函」）。除 本 公 告 另 有 界 定 外，本 公 告 所 用 詞 彙 與 臨 時 股 東 大 會 通 告 及 通 函 所 界 定 者 具 有 相 同 涵 義。 董 事 會 欣 然 宣 佈，臨 時 股 東 大 會 已 於2025年9月19日（星 期 五）上 午10時 正 假座中國深圳市羅湖區東曉街道東曉社區太 ...

EF001 免責聲明 宣派之股息所適用之代扣所得稅（包括股東類型及適用的稅率）載列於下表。公司在向 於記錄日期名列本公司H股股東名冊的H股個人股東派付股息時，將預扣10%的股息作為 個人所得稅，除非相關稅務法規、稅收協定或通知另有規定。對通過港股通投資本公司H 股的內地個人股東派發股息時，本公司將按照20%的稅率代扣代繳個人所得稅。對H股全 流通股東中的內地個人股東派發股息時，本公司有義務代扣代繳20%的個人所得稅。對 通過港股通投資本公司H股的內地企業股東派發股息時，本公司將不會代扣代繳企業所得 稅。有關代扣所得税信息的進一步詳情，請見本公司日期為2025年9月19日的公告中標 題為「預扣稅」的部分。 | | 股東類型 | 稅率 | 有關代預扣所得稅之更多補充 | | --- | --- | --- | --- | | | | | （如適用） | | | 非居民企業 | | | | | （非中國內地登記地址） | 10% | 本公司向境外H股非居民企業股東 | | | | | （包括以香港中央結算（代理人） | | | | | 有限公司名義登記的本公司H股， | | | | | 但不包括在香港中央結算（代理 ...

Group 1 - The establishment of Zhou Li Fu Jewelry (Bengbu) Co., Ltd. has been registered with a legal representative named Liao Shuwen and a registered capital of 1 million RMB [1] - The company's business scope includes retail and wholesale of jewelry, jewelry recycling and repair services, graphic design, professional design services, and sales of arts and crafts [1] - Additional services offered by the company include brand management, consulting and planning services, marketing planning, appraisal services for artworks and collectibles, and various technical services [1]

Core Viewpoint - The Chinese gold and jewelry brand Zhou Li Fu demonstrates resilience in performance amid rising gold prices, with significant revenue and profit growth in 2024 and the first half of 2025 [1][4]. Group 1: Company Performance - Zhou Li Fu achieved a revenue of 5.72 billion yuan in 2024, representing a year-on-year growth of 11.0%, and a net profit of 710 million yuan, also up by 7.1% [1]. - In the first half of 2025, the company reported a revenue of 3.15 billion yuan, a growth of 5.2%, and a net profit of 420 million yuan, increasing by 11.9% [1]. - The company's performance growth significantly outpaced the overall retail growth in the gold and jewelry sector during the same period [1]. Group 2: Industry Outlook - The gold and jewelry industry in China is experiencing high demand due to its dual role as both a consumer and investment product, with a year-on-year retail growth rate of 12.9% from January to July 2025 [2]. - The market size of China's gold and jewelry sector is projected to grow from 328.2 billion yuan in 2019 to 568.8 billion yuan in 2024, with a compound annual growth rate (CAGR) of 11.6% [2]. - By 2029, the market size is expected to reach 818.5 billion yuan, with a projected CAGR of 7.6% from 2024 to 2029 [2]. Group 3: Sales Strategy - Zhou Li Fu has established a leading offline store network with over 3,800 locations across China, focusing on both lower-tier markets and expanding into first and second-tier cities [3]. - The online sales channel is rapidly growing, with revenues of 2.29 billion yuan in 2024, a year-on-year increase of 31.0%, and 1.63 billion yuan in the first half of 2025, up by 34.3%, accounting for 51.8% of total revenue [3]. - The company enhances brand visibility through marketing strategies, including e-commerce promotions, sponsorship of TV dramas, and collaborations with KOLs and celebrities [3]. Group 4: Profit Forecast and Investment Rating - Zhou Li Fu is expected to maintain long-term revenue growth driven by its online and offline sales model, with projected net profits of 850 million yuan, 980 million yuan, and 1.12 billion yuan for 2025 to 2027, reflecting year-on-year growth rates of 20%, 16%, and 14% respectively [4]. - The company's price-to-earnings (PE) ratios for 2025 to 2027 are estimated at 23, 20, and 17 times, indicating a favorable long-term growth outlook [4].

Group 1 - The core viewpoint of the report is that Zhou Li Fu (06168) is expected to have long-term growth potential due to its strong online performance and significant expansion opportunities in offline stores, leading to an "overweight" rating by Dongwu Securities [1] - Zhou Li Fu, established in 2004, has a comprehensive sales network combining offline stores and online sales channels, offering various jewelry products, including gold and diamond-set jewelry [1] - In 2024, the company achieved revenue of 5.72 billion yuan, a year-on-year increase of 11.0%, and a net profit attributable to shareholders of 710 million yuan, also up by 7.1% [1] Group 2 - The Chinese gold and jewelry industry is experiencing high prosperity, with the retail sales growth of gold and jewelry consistently surpassing the overall retail sales growth since the beginning of 2025, averaging a year-on-year growth of 12.9% from January to July [2] - The market size of China's gold and jewelry sector is projected to grow from 328.2 billion yuan in 2019 to 568.8 billion yuan in 2024, with a compound annual growth rate (CAGR) of 11.6% [2] - The industry is expected to maintain a high level of prosperity due to continuous innovation in gold and jewelry craftsmanship and the upgrading of consumer spending power [2] Group 3 - Zhou Li Fu has actively expanded its offline store network, reaching over 3,800 stores nationwide by the end of the first half of 2025, focusing on the purchasing needs of lower-tier markets while also expanding into first- and second-tier cities [3] - The online sales channel is rapidly growing, with revenue from online channels reaching 2.29 billion yuan in 2024, a year-on-year increase of 31.0%, and 1.63 billion yuan in the first half of 2025, up by 34.3%, accounting for 51.8% of total revenue [3] - The company enhances its brand value through marketing strategies, including promotions on e-commerce platforms, sponsorship of TV dramas, and collaborations with KOLs and celebrities [3]

Group 1: Company Overview - Zhou Li Fu, established in 2004, is a well-known domestic gold and jewelry brand that combines online and offline sales channels to provide a variety of jewelry products, including gold and diamond-set jewelry [1] - The company achieved a revenue of 5.72 billion yuan in 2024, representing a year-on-year growth of 11.0%, and a net profit attributable to shareholders of 710 million yuan, also up by 7.1% [1] - In the first half of 2025, Zhou Li Fu reported a revenue of 3.15 billion yuan, a year-on-year increase of 5.2%, and a net profit of 420 million yuan, growing by 11.9% [1] Group 2: Industry Insights - The gold and jewelry industry in China is experiencing high prosperity, with the retail sales growth of gold and jewelry consistently surpassing the overall retail sales growth since the beginning of 2025, averaging a year-on-year growth of 12.9% from January to July [2] - The market size of China's gold and jewelry industry is projected to grow from 328.2 billion yuan in 2019 to 568.8 billion yuan in 2024, with a compound annual growth rate (CAGR) of 11.6%, and is expected to reach 818.5 billion yuan by 2029, with a CAGR of 7.6% from 2024 to 2029 [2] Group 3: Growth Strategy - Zhou Li Fu has established a leading offline store network, with over 3,800 stores nationwide by the end of the first half of 2025, focusing on the purchasing needs of lower-tier markets while also expanding into first- and second-tier cities [3] - The online sales channel is rapidly expanding, with online revenue reaching 2.29 billion yuan in 2024, a year-on-year increase of 31.0%, and 1.63 billion yuan in the first half of 2025, growing by 34.3%, accounting for 51.8% of total revenue [3] - The company enhances brand value through marketing strategies, including promotions on e-commerce platforms, sponsorship of TV dramas, and collaborations with KOLs and celebrities [3]

Group 1 - The core point of the article is that Zhou Li Fu (06168) has made a strategic investment in Going Securities (HK) Limited, acquiring a 15% stake through its wholly-owned subsidiary, which has led to a nearly 6% increase in its stock price [1] - The investment agreement has been signed and funds have been paid, marking the official launch of this strategic investment [1] - The strategic investment is seen as a foundation for long-term collaboration in the digital finance sector among the involved parties, aiming to explore new growth opportunities in Hong Kong's digital asset market [1] Group 2 - Going Securities is a licensed corporation recognized by the Hong Kong Securities and Futures Commission, holding multiple regulatory licenses for various activities [1] - The investment also involves Weifutong Technology Co., Ltd., which holds an 18% stake in Going Securities through its wholly-owned subsidiary [1] - The parties plan to integrate resources in cross-border payments, precious metals, and capital markets to expand their digital finance-related businesses [1]

Core Viewpoint - Zhou Li Fu (06168) has seen a nearly 6% increase in stock price following the announcement of a strategic investment in Going Securities (HK) Limited, indicating positive market sentiment towards the company's expansion into the digital finance sector [1] Group 1: Investment Details - Zhou Li Fu, through its wholly-owned subsidiary, has invested in Going Securities (HK) Limited, acquiring a 15% stake in Gao Ying Securities [1] - Wei Fu Tong Technology Co., Ltd., a wholly-owned subsidiary of A-share listed company Hua Feng Chao Xian (300180), has also invested in Gao Ying Securities, holding an 18% stake [1] - The investment agreements have been signed and payments completed, marking the official launch of this strategic investment [1] Group 2: Company Profile and Strategic Importance - Gao Ying Securities is a licensed corporation recognized by the Hong Kong Securities and Futures Commission, holding multiple regulatory licenses for various activities [1] - The company serves as the vice-chairman unit of the "Hong Kong Web3.0 Standardization Association," highlighting its compliance qualifications and resource integration advantages [1] - This strategic investment is seen as a foundational step for the parties involved to establish long-term strategic layouts and collaborative opportunities in the digital finance sector [1] Group 3: Future Prospects - The involved parties plan to integrate mature resources across cross-border payments, precious metals, and capital markets to expand their business in the digital finance field [1] - There is an intention to explore new growth opportunities in the Hong Kong digital asset market [1]