Zhoulu Fok(06168.HK)2025 Net Profit of 769 Million Yuan, Year-over-Year Increase of Approximately 8.9%

Gelonghui March 20 — Saturday Fortune (06168.HK) released its 2025 annual results. The group’s revenue was approximately RMB 5.834 billion, an increase of about 2.0% year-on-year. The group’s net profit was approximately RMB 769 million, an increase of about 8.9% year-on-year. Basic earnings per share were RMB 1.88. The company’s board of directors recommends a final dividend of RMB 0.45 per share for the year ending December 31, 2025.

As an early player in online retail jewelry, during the reporting period, the company’s online retail business continued to grow strongly and has become one of the main pillars of the group’s revenue, contributing over half of the group’s revenue and major performance growth. The online revenue has a compound annual growth rate of about 40% over the past three years, maintaining high profitability while leading the industry in growth rate and market share.

Since 2025, due to factors such as high gold prices, end-user demand, and industry policy updates, the domestic gold jewelry market has faced significant pressure. During the reporting period, revenue from franchise and self-operated models accounted for approximately 40% and 60%, respectively.

Overall, offline performance was relatively pressured. During the reporting period, revenue from franchise models was RMB 2.333 billion, a decrease of 19% compared to the same period last year; revenue from self-operated stores was RMB 433 million, a decrease of 5% year-on-year. The group continued to implement channel resource integration, optimize market layout, and improve store quality. In contrast, the group’s online business benefited from continuous strategic focus and its unique operational experience, achieving simultaneous growth in sales volume and price. During the reporting period, online revenue increased by 29% year-on-year, with sales weight of gold products excluding gold bars increasing by 10% year-on-year.