Financial Performance - The company's revenue for Q3 2024 was ¥2,611,791,040.87, a decrease of 40.91% compared to the same period last year[2]. - Net profit attributable to shareholders for Q3 2024 was ¥253,354,854.48, down 28.70% year-on-year[2]. - The total revenue from January to September 2024 reached ¥10,808,649,102.64, reflecting a decline of 13.49% compared to the previous year[5]. - Total revenue for Q3 2024 was CNY 10,808,649,102.64, a decrease of 13.5% compared to CNY 12,493,990,257.53 in the same period last year[22]. - Net profit attributable to the parent company was CNY 3,719,328,749.76, a decrease from CNY 3,895,719,864.38 year-on-year[21]. - The net profit for Q3 2024 was CNY 852,968,691.99, a decrease of 22% compared to CNY 1,092,663,688.67 in Q3 2023[23]. - The total comprehensive income attributable to the parent company was CNY 854,737,537.58, down from CNY 1,095,140,160.78 in Q3 2023[23]. - The company reported a total profit of CNY 1,109,104,662.60 for Q3 2024, down from CNY 1,421,947,168.76 in the previous year, representing a decline of approximately 22%[23]. Revenue Breakdown - Self-operated offline business revenue for the first nine months was ¥1,354,000,000, a growth of 9.77% year-on-year[6]. - E-commerce business revenue for the first nine months was ¥1,653,000,000, an increase of 5.94% compared to the previous year[6]. - Franchise business revenue for the first nine months was ¥7,660,000,000, a decrease of 19.75% year-on-year[6]. Assets and Liabilities - The total assets at the end of the reporting period were ¥8,265,285,038.46, representing a 3.16% increase from the end of the previous year[2]. - Total liabilities increased to CNY 2,058,916,169.97, up from CNY 1,627,766,416.87, marking a rise of 26.4%[20]. - The company’s total equity attributable to shareholders decreased to CNY 6,204,837,295.72 from CNY 6,381,299,956.49, a decline of 2.8%[21]. Cash Flow and Financial Position - Cash and cash equivalents increased by 82.21% to ¥1,552,079,538.19 due to a significant decrease in credit sales and growth in sales collections[12]. - Cash received from operating activities decreased by 41.89% to ¥100,105,132.58 due to a reduction in customer deposits and government subsidies[14]. - Cash obtained from borrowings increased by 175.00% to ¥1,650,000,000.00 as the company raised more short-term loans[14]. - Cash flow from operating activities showed a net increase of CNY 1,314,997,122.68, a significant improvement from a negative cash flow of CNY -108,657,725.42 in the previous year[24]. - Cash and cash equivalents at the end of Q3 2024 amounted to CNY 1,327,784,636.96, up from CNY 823,153,903.37 at the end of Q3 2023[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,772, with the largest shareholder holding 55.57%[15]. - The company reported a total share capital of 1,095,926,265 shares, with 10,452,372 shares held in the repurchase account, representing 0.95% of the total share capital[18]. - A cash dividend of 6.5 RMB per 10 shares will be distributed, totaling 705,558,030.45 RMB, with the record date on July 9, 2024[18]. - For the 2024 semi-annual dividend, a cash dividend of 3 RMB per 10 shares is proposed, amounting to 325,642,167.90 RMB, with the record date on October 18, 2024[18]. - The top 10 shareholders include Shenzhen Zhou's Investment Co., Ltd. holding 609,018,750 shares, accounting for 55.6% of the total[17]. - The company’s actual controller, Zhou Zongwen, and his family hold a combined 82.54% of the shares after a recent share transfer agreement[17]. Operational Changes - The number of stores at the end of the reporting period was 5,235, with a net increase of 129 stores since the beginning of the year[10]. - The company has focused on product development and marketing efforts to adapt to market changes amid challenging economic conditions[5]. - The company has not reported any new product launches or technological advancements in this quarter[16]. - There are no updates on market expansion or mergers and acquisitions in the current report[16]. Expenses - Sales expenses increased by 33.30% to ¥823,945,348.83 primarily due to higher compensation, rental, advertising, and e-commerce channel costs[13]. - Financial expenses surged by 2234.80% to ¥25,150,070.56 mainly due to increased interest on short-term loans and foreign exchange losses[13]. - Research and development expenses for the quarter were CNY 8,909,429.39, slightly up from CNY 8,377,091.38 in the previous year[22].

证券代码：002867 证券简称：周大生 公告编号：2024-053 周大生珠宝股份有限公司 关于公司 2024 年 9 月份新增自营门店情况简报 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 注：总投资金额为计划投资额，主要包括首次铺货、装修、道具及固定资产、旧店转至新店的货 品等。上述面积为建筑面积或租赁面积等，具体以签订的合同为准。 以上经营数据为初步统计数据，最终数据以定期报告为准，特提醒投资者注 意。 特此公告。 周大生珠宝股份有限公司 董事会 根据《深圳证券交易所上市公司自律监管指引第 3 号——行业信息披露 （2023 年修订）》第四章第八节珠宝相关业务的要求，周大生珠宝股份有限公 司现将 2024 年 9 月份公司新增自营门店概况披露如下： | 序 | 门店名称 | 所在 | 开设时间 | 经营 | 面积 | 总投资金 | 主要商品 | | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | | 地区 | | 形式 | (m2 ) | 额（万元） | 类别 | | 1 | 周大生经典济南 ...

证券代码：002867 证券简称：周大生 公告编号：2024-052 周大生珠宝股份有限公司 2024 年半年度权益分派实施公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、根据《深圳证券交易所上市公司自律监管指引第9号——回购股份》等相 关规定，周大生珠宝股份有限公司（以下简称"公司"）通过回购专用证券账户 持有的公司股份10,452,372股不享有利润分配权利，因此本次享有可参与利润分 配权的股份总数为1,085,473,893股（现有总股本1,095,926,265股剔除已回购股份 10,452,372股）。 2、在本次权益分派方案不变的前提下，2024年半年度权益分派实施后的除 权除息参考价格如下：公司本次实际现金分红的总金额=实际参与分配的总股本 ×分配比例，即325,642,167.90元=1,085,473,893股×0.3元/股，因公司已回购股份 不参与分红，本次权益分派实施后，根据股票市值不变原则，实施权益分派前后 公司总股本保持不变，现金分红总额分摊到每一股的比例将减小，因此，本次权 益分派实施后除权除息价格计算时，每股 ...

代码：002867 证券简称：周大生 编号：2024-037 周大生珠宝股份有限公司 投资者关系活动记录表 | --- | --- | |---------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | □分析师会议 | | | □业绩说明会 | | 投资者关系活动类别 | □路演活动 | | | ...

代码：002867 证券简称：周大生 编号：2024-036 周大生珠宝股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------------|----------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | √特定对象调研 | □分析师会议 | | | ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 根据《深圳证券交易所上市公司自律监管指引第 3 号——行业信息披露 （2023 年修订）》第四章第八节珠宝相关业务的要求，周大生珠宝股份有限公 司现将 2024 年 8 月份公司新增自营门店概况披露如下： | 序 | 门店名称 | 所在 | 开设时间 | 经营 | 面积 | 总投资金 | 主要商品 | | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | | 地区 | | 形式 | (m2 ) | 额（万元） | 类别 | | 1 | 周大生长沙高铁吾悦广场专 1 | 华中 | 2024.8.01 | 专卖 | 93.33 | 600 | 素金、镶嵌 | | | 卖店 | | | 店 | | | | | 2 | 周大生长沙松雅湖吾悦广场 2 | 华中 | 2024.8.06 | 专卖 | 124.03 | 600 | 素金、镶嵌 | | | 专卖店 | | | 店 | | | | | 3 | 周大生国家宝藏哈尔滨远大 3 | 东北 | 2024.8.07 ...

Investor Relations Activity - Investor relations activity category: Other (teleconference) [1] - Number of investors: 5 [1] - Participating units and personnel: Jianxin Pension (Xu Rui), Dan Shui Quan (Luo Zhiwei), CITIC Securities (Ye Le, Zhang Shuyi, Li Jie) [1] - Date and location: September 13, 2024, online [1] - Company representatives: Board Secretary and Vice President (He Xiaolin), Securities Affairs Representative (Rong Huan) [1] Key Discussion Topics - Main financial indicators for the first half of 2024 [1] - Impact of gold price fluctuations [1] - Store opening pace [1] - National Treasure series [1] - Industry situation [1] Compliance and Disclosure - Strict adherence to the "Information Disclosure Management System" to ensure the authenticity, accuracy, completeness, timeliness, and fairness of information disclosure [1] - No leakage of undisclosed major information during the reception process [1]

代码：002867 证券简称：周大生 编号：2024-034 周大生珠宝股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------------------------|----------------------------------------|----------------------------------------------------------------| | | | | | | □特定对象调研 | □分析师会议 | | | □媒体采访 | □业绩说明会 | | 投资者关系活动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | √其他(电话会议 ) | | | | 共计 17 位投资者（排名不分先后）： | | | | 华富基金：王叶 | 东证融汇：刘一霖 | | | 上海雪石资管：吴曦 | 阳光保险：赵欣茹 | | | 上海瓴仁私募基金：吕若晨 | 上海雪石资管：黄格格 | | 参与单位名称 | 万和证券：范慧华 | 财通证券：简曲 | | 及人员姓名 | 财通基金：王逸欣 | 野村东方国际证 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][6] Core Views - The company reported a revenue of 8.197 billion yuan for the first half of 2024, a year-on-year increase of 1.52%, while the net profit attributable to shareholders decreased by 18.71% to 601 million yuan [5] - The revenue from gold products continues to increase, contributing 84.93% of total revenue, while the revenue from embedded products decreased by 29.18% [5] - The company is expanding its store network, with a net increase of 124 stores in the first half of 2024, bringing the total to 5,230 stores [5] - The company maintains a high cash dividend payout ratio of 54.14% [5] Summary by Sections Financial Performance - In Q2 2024, the company achieved a revenue of 3.126 billion yuan, a year-on-year decrease of 20.89%, and a net profit of 260 million yuan, down 30.51% [5] - The gross profit margin for the first half of 2024 was 18.38%, a slight decrease of 0.08 percentage points year-on-year [5] - The company plans to distribute a cash dividend of 3 yuan for every 10 shares, totaling 326 million yuan [5] Product and Channel Analysis - The revenue from franchise channels was 5.932 billion yuan, a slight decrease of 0.74%, while self-operated channels saw a growth of 16.35% to 963 million yuan [5] - E-commerce revenue grew by 3.09% to 1.191 billion yuan, contributing 14.53% to total revenue [5] Store Expansion - The company added 297 stores and closed 173, resulting in a net increase of 124 stores in the first half of 2024 [5] - The majority of stores are located in third-tier cities and below, accounting for 67.9% of total stores [5] Future Outlook - The company expects revenue growth of 6.77%, 9.25%, and 10.21% for the years 2024, 2025, and 2026, respectively [6] - The projected net profit for 2024 is 1.315 billion yuan, with a slight decrease of 0.09% year-on-year, followed by growth of 18.13% and 14.67% in the subsequent years [6]

[Table_Stock] 周大生（002867） | --- | |-------| | | | | | --- | |-------| | | | | | | | | | | | | | | | | [Table_Rating] 买入（维持） [◼Table_Summary] 投资摘要 事件概述 [行业Table_Industry] : 纺织服饰 日期: shzqdatemark 2024年09月05日 | --- | --- | |-------------------------|----------------------| | | | | | | | [Table_Author] 分析师 : | 张洪乐 | | | | | Tel: | 021-53686159 | | E-mail: | zhanghongle@shzq.com | | SAC 编号 : | S0870523040004 | | --- | --- | |-----------------------------|-------------| | | | | [Table_BaseInfo] 基本数据 | | | 最新收盘价（元 ...