Core Viewpoint - Zhou Liufu successfully listed on the Hong Kong Stock Exchange on June 26, 2023, after a six-year journey, achieving over 700 times subscription and a market capitalization exceeding HKD 10.1 billion, with a first-day surge of 25% to reach HKD 13 billion [1] Group 1: Company Background - Zhou Liufu is a local brand that grew from the Shenzhen Shui Bei International Jewelry Trading Center, founded in 2004 by Li Weipeng [3] - The company operates through a franchise model, leveraging supplier resources from Shui Bei for rapid expansion, and ranks among the top five jewelry brands in China by store count [3] - Zhou Liufu was the only unlisted company among the top five brands, which include Chow Tai Fook, Lao Feng Xiang, Zhou Da Sheng, and China Gold [3] Group 2: IPO Journey - Zhou Liufu attempted to list on the Shenzhen Stock Exchange three times but faced setbacks due to investigations and doubts about its business model, leading to the withdrawal of its A-share application in November 2023 [3][4] - The company shifted its focus to the Hong Kong Stock Exchange, submitting its prospectus in June 2022, which later expired, but successfully re-applied in February 2025 and received approval for overseas listing [4] Group 3: Financial Performance - Zhou Liufu's projected revenues for 2022, 2023, and 2024 are approximately CNY 3.102 billion, CNY 5.150 billion, and CNY 5.718 billion, respectively, with net profits of about CNY 575 million, CNY 660 million, and CNY 706 million during the same period [4] - As of the end of 2024, the company is expected to operate 4,129 stores, with 4,038 being franchise stores, accounting for 97.8% of its total outlets [4] Group 4: Market Considerations - The company acknowledged that significant increases in gold prices negatively impact consumer purchasing willingness for gold jewelry [4]
闯关六年终敲钟，周六福港股上市首日大涨25%