代码：002867 证券简称：周大生 编号：2023-015 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 12 位投资者（排名不分先后）： 大家资管：胡筱、黄建平 长江零售：陈亮 参与单位名称 国联安基金：楼枫烨 南方基金：吕思奇 及人员姓名 平安资管：范自彬、刘博 银华基金：吴思其、周燕、王璐、向伊达、魏卓 时 间 2023 年 5 月 5 日、5 月 8 日、5 月 9 日 地 点 周大生总部会议室 上市公司接待人员姓名 董事会秘书及副总经理：何小林 证券事务代表：周晓达、荣欢 一、 问答环节： 1： 珠宝行业整体景气度情况如何？ 答：景气度较好。 2： 婚庆需求是否存在从镶嵌转向黄金的趋势？ 答：目前还看不到这个趋势，钻戒仍是年轻人的结婚标配。此 投资者关系活动 外，婚庆珠宝消费一般会有固定预算，金价上涨会对镶嵌类产品的消 主要内容介绍 费产生一定的影响。 3： 请简要介绍周大生经典店三大黄金产品线？ 答：周大生经典店三大黄金产品线分别为中国心、时代情、时尚 潮。 ...

Financial Performance - The company's operating revenue for 2022 was ¥11,118,080,951.36, representing a 21.44% increase from ¥9,155,200,043.25 in 2021[14]. - The net profit attributable to shareholders for 2022 was ¥1,090,598,158.56, a decrease of 10.94% compared to ¥1,224,611,693.59 in 2021[14]. - The net profit after deducting non-recurring gains and losses was ¥1,025,465,873.05, down 14.06% from ¥1,193,250,092.76 in the previous year[14]. - The cash flow from operating activities for 2022 was ¥1,017,715,786.85, a significant increase of 417.87% from ¥196,519,698.68 in 2021[14]. - The total assets at the end of 2022 were ¥7,607,252,513.26, an increase of 8.43% from ¥7,016,112,160.77 at the end of 2021[14]. - The net assets attributable to shareholders at the end of 2022 were ¥6,042,240,601.85, up 4.41% from ¥5,787,152,783.53 in 2021[14]. - The basic earnings per share for 2022 were ¥1.01, a decrease of 9.82% from ¥1.12 in 2021[14]. - The weighted average return on equity for 2022 was 18.28%, down from 21.33% in 2021[14]. - The company achieved a significant digital transformation, with WeChat friends increasing from 20,000 to over 3 million, and online and offline market growth exceeding 1 billion yuan[55]. - The company reported a total revenue of 16.464 billion CNY for the year 2022, with no significant changes in the management team during the reporting period[142]. Dividend Distribution - The company plans to distribute a cash dividend of 6 RMB per 10 shares to all shareholders, based on a total share capital of 1,095,926,265 shares, after deducting 10,452,372 shares repurchased[3]. - The cash dividend distribution plan for 2022 proposes a payout of 6 RMB per 10 shares, amounting to a total cash dividend of 651,284,335.80 RMB[170]. - The cash dividend distribution represents 100% of the total profit distribution amount, reflecting the company's commitment to sharing operational results with investors[170]. - The total cash dividends distributed during the reporting period amounted to CNY 542,813,732.5, representing 44.33% of the net profit attributable to shareholders[191]. - Cumulative dividends since the company's listing have reached CNY 2.416 billion, exceeding the net amount raised from the IPO of CNY 1.460 billion[191]. Market Expansion and Strategy - The company is exploring market expansion opportunities both domestically and internationally[6]. - The company has focused on channel expansion and has a leading position in the market, particularly in third- and fourth-tier cities[25]. - The company plans to continue optimizing market layout and expanding into the southern market to mitigate adverse market factors[43]. - The company plans to expand its store network significantly, utilizing a dual-brand strategy to enhance market presence and compete effectively against rivals[111]. - The company is actively pursuing a strategy of market expansion and product innovation to maintain competitive advantages in the jewelry sector[112]. - The company is considering strategic acquisitions to enhance its supply chain efficiency, with potential targets identified[184]. Product Development and Innovation - The company has made significant investments in research and development for new products and technologies in the jewelry sector[6]. - The company launched multiple new product series, including the "Happiness Bride" and "Urban Monologue" series, targeting emotional expression and fashion trends[29]. - The company has developed a gold product matrix focusing on emotional expression, fashion decoration, and cultural IP, with six major product lines[30]. - The product development strategy emphasizes user experience, with a focus on aesthetic appeal and emotional value, while introducing more IP collaborations to enhance product competitiveness[110]. - The company is investing in technology development, with a budget allocation of 200 million RMB for R&D in innovative jewelry designs[184]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[2]. - The company has outlined potential risks that may affect its future operations in the management discussion section of the report[2]. - The company is committed to complying with the disclosure requirements of the Shenzhen Stock Exchange for the jewelry industry[2]. - The company has a strict supplier approval and monitoring mechanism to mitigate risks associated with designated suppliers[120]. - The company has not faced any penalties from securities regulatory authorities in the past three years[151]. Corporate Governance and Management - The company has established a robust governance structure, ensuring compliance with regulatory requirements and protecting the rights of minority shareholders[128]. - The board of directors consists of 11 members, including 4 independent directors, complying with legal requirements[129]. - The supervisory board has 3 members, including 1 employee representative, and held 6 meetings during the reporting period[130]. - The company has established independent financial, operational, and management systems, ensuring no shared resources with controlling shareholders[133][134][135][136][137][138]. - The company has a diverse management team with varying levels of experience and expertise[153]. Employee Engagement and Welfare - The company emphasizes performance-based incentives, with a focus on strategic performance management and annual performance bonuses linked to organizational profits[165]. - The company has implemented a comprehensive training program for new employees and interns, utilizing both online and offline training methods to enhance integration and skill acquisition[166]. - The company maintains a strict compliance with national laws regarding employee benefits and social insurance, ensuring a supportive work environment[165]. - The company is committed to improving employee engagement and talent management through innovative mechanisms and incentive models[107]. Social Responsibility - The company actively engages with investors through multiple channels to ensure transparency and protect shareholder rights[191]. - The company is actively involved in social responsibility initiatives, focusing on poverty alleviation and community support[194]. - The company donated CNY 540,000 to the Yunnan Charity Federation for rare disease child assistance and CNY 100,000 to the agricultural bureau of Dapu County, Guangdong, for supporting sick villagers[194]. Inventory and Procurement - The company's inventory balance at the end of the reporting period was 3.353 billion yuan, an increase of 20.45% compared to the end of the previous year[53]. - The total procurement amount for gold was 887.63 million yuan, which constituted 89.70% of total procurement, reflecting a 50.35% increase compared to the previous year[49]. - The average procurement price for gold was 343.75 yuan per gram, with total gold procurement volume reaching 25.82 million grams, a year-on-year increase of 44.15%[52]. Sales and Revenue - The sales revenue of gold products reached 6.357 billion yuan in the franchise business, with a significant year-on-year increase of 74.4%[32]. - The sales revenue of gold products in the self-operated online business was 1.027 billion yuan, reflecting a year-on-year growth of 42.25%[32]. - The average revenue from gold product wholesale sales per franchise store was 1.4883 million yuan, showing a significant year-on-year growth of 64.97%, attributed to changes in consumer structure and direct wholesale supply to franchisees[44]. - Online sales revenue reached 1.546 billion yuan, a year-on-year increase of 34.65%, accounting for 13.9% of total revenue during the reporting period[47]. Future Outlook - Future guidance indicates a targeted revenue growth rate of approximately 10% for the next fiscal year, driven by new product launches and market expansion strategies[145]. - The management team remains optimistic about the market outlook, citing strong consumer demand and favorable economic conditions as key growth drivers[145].

Financial Performance - The company achieved a revenue of CNY 4.12 billion in Q1 2023, representing a 49.65% increase compared to CNY 2.75 billion in the same period last year[3]. - Net profit attributable to shareholders was CNY 365.40 million, up 26.06% from CNY 289.86 million year-on-year[3]. - The online (e-commerce) business generated CNY 521.35 million in revenue, marking an 85.72% increase year-on-year[6]. - The revenue from franchise business reached CNY 3.07 billion, a 48.91% increase year-on-year[6]. - Total revenue for Q1 2023 reached ¥4,121,905,067.55, a significant increase of 49.5% compared to ¥2,754,430,040.24 in Q1 2022[23]. - Net profit for Q1 2023 was ¥364,549,314.81, up 26.2% from ¥288,891,577.33 in the same period last year[24]. - Operating profit for the quarter was ¥471,514,561.69, compared to ¥372,780,240.03 in the previous year, representing a growth of 26.5%[24]. - The total operating costs for Q1 2023 were ¥3,634,512,455.94, up from ¥2,402,547,440.85, reflecting an increase of 51.3%[23]. Cash Flow and Liquidity - Cash flow from operating activities was CNY 691.10 million, reflecting a 4.05% increase compared to CNY 664.23 million in the same period last year[3]. - Cash received from sales of goods and services increased by 42.18% to approximately ¥4.84 billion, reflecting substantial growth in operating revenue and collections from accounts receivable[13]. - The total cash inflow from operating activities was CNY 4,885,603,156.15, an increase of 42.4% compared to CNY 3,442,305,797.28 in the previous period[25]. - The net cash flow from operating activities was CNY 691,102,918.85, slightly up from CNY 664,231,459.83 in the same period last year[25]. - The ending balance of cash and cash equivalents was CNY 2,260,291,120.47, up from CNY 1,700,625,274.69 in the previous year[26]. - The company reported a cash increase of CNY 524,883,265.37 during the period, compared to CNY 411,322,267.28 in the previous year[26]. Assets and Liabilities - The company’s total assets reached CNY 8,461,702,249.78, up from CNY 7,607,252,513.26, reflecting a growth of approximately 11.2%[20]. - The company’s total liabilities increased to CNY 3,200,000,000.00, compared to CNY 2,800,000,000.00, indicating a rise of about 14.3%[20]. - Total liabilities rose to ¥2,048,259,352.13, up from ¥1,558,360,107.01, marking an increase of 31.5%[22]. - The company’s equity attributable to shareholders reached ¥6,407,639,987.27, compared to ¥6,042,240,601.85, indicating a growth of 6.0%[22]. Operational Metrics - The number of stores increased by 133 to a total of 4,637, with 4,368 being franchise stores and 269 self-operated stores[8]. - The gross profit margin for gold products increased significantly, with sales of gold products reaching CNY 3.92 billion, a 124.06% increase year-on-year[6]. - The company plans to continue enhancing product research and development as well as marketing efforts to sustain growth in the gold product segment[6]. - The company plans to continue expanding its market presence and invest in new product development to drive future growth[19]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 28,893, with the largest shareholder holding 55.57% of the shares[14]. - The company’s share repurchase account held 10,452,372 shares, accounting for 0.95% of total shares outstanding[19]. - The company’s major shareholders include Shenzhen Zhou's Investment Co., Ltd., holding 609,018,750 shares, representing a significant portion of the equity[16]. Tax and Expenses - The company’s tax expenses rose by 60.57% to approximately ¥38.62 million, driven by increased business activities during the reporting period[12]. - The company reported a tax expense of ¥108,952,687.89 for the quarter, compared to ¥86,501,521.23 in the previous year, an increase of 25.9%[24]. - The company’s financial expenses increased by 118.77% to approximately ¥564 thousand, mainly due to higher interest on short-term loans and gold leasing costs[12].