Zhou Liufu (06168) released its 2025 annual performance with a net profit attributable to shareholders of RMB 770 million, representing a year-on-year growth of 9.1%.

ZHOU LIU FU (06168) released its annual performance for the year ending on December 31, 2025, with a revenue of 5.834 billion yuan, a year-on-year growth of 2%; the profit attributable to the owners of the parent company was 770 million yuan, a year-on-year growth of 9.1%; basic earnings per share were 1.88 yuan, and a final dividend of 0.45 yuan per share (including tax). Since 2025, the domestic gold jewelry consumption market in China has faced significant pressure due to factors such as the high gold price, changes in end demand, and industry policy updates. During the reporting period, the revenue from franchise model and self-operated model accounted for approximately 40% and 60% respectively. Overall, offline performance was relatively under pressure during the reporting period, with revenue from the franchise model reaching 2.3329 billion yuan, down 19% from the same period last year; revenue from self-operated stores reached 0.433 billion yuan, down 5% from the same period last year; the group continued to implement measures such as channel resource integration, market layout optimization, and store quality improvement. In contrast, the group's online business benefited from the group's continued strategic focus and its unique operational experience, achieving both sales volume and price growth; during the reporting period, online revenue grew by 29%, with gold products sales volume (excluding gold bars) increasing by 10% year-on-year. Looking ahead to 2026, fluctuations in gold prices and differentiated consumer demand will continue to be the main challenges and opportunities for the industry. Facing the complex and changing market environment, the group's management will actively respond and adhere to achieving high-quality development. The group will focus on the three-dimensional strategic direction of "improving efficiency online, enhancing quality offline, and upgrading products," continuously deepening the narrative theme of "brand + quality," and actively expanding overseas to create an international fashion jewelry group.