Asia-Pacific Newsweek
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Li Weizhu, chairman of Zhou Liu Fu Fashion jewelry, signed up with the billionaire positions in the initial 2 trading days on the Hong Kong Stock Market on Friday.
Li, 47, is Zhou Liu’s biggest investor, has wholly-owned financial investment automobiles and has 57% of the shares. According to his shares Forbes His total assets is approximated to be $1.2 billion. Li’s bro Weipeng is the founder and vice-chairman of Zhou Liu, that has $522 million in riches under his 24% possession. Forbes price quote.
Lee went into the 3 extra pound club on Thursday the day after his launching in Hong Bourse on Thursday. The firm increased HK$ 1.3 billion (US$ 164.6 million) in its going public. Zhou Liufu did not reply to an ask for remark.
Zhou Liu Fu is extensively considered a duplicate of Chow Tai Fook precious jewelry managed by Hong Kong billionaire Henry Cheng, while one more Hong Kong-listed jewelry expert, Luk Fook Holdings, as a result of its name comparable to that of its elder rival. Zhou Liu’s “Zhou” is the Mandarin punctuation of “chow” in Chow tai Fook, while “Liu Fu” is the Mandarin chinese of “luk fook” by Luk Fook Holdings.
Zhou Liufu stated in his syllabus that it was selected as a co-defendant in 7 lawful disagreements. There is one situation in 2023 in which a franchisee and its franchisee were demanded violation of item hallmarks. The situation was dealt with after Zhou Liufu consented to quit marketing the challenged items and repay all associated costs to the complainant. On the other hand, the firm consequently took legal action against smaller sized rivals for hallmark violation. Zhou Liu Fu stated in his syllabus that this is the complainant in 25 recurring lawful disagreements, most of which include hallmark violation insurance claims.
Zhou Liufu requested a checklist of Shenzhen Stock market in 2019, however was denied by regulatory authorities, that pointed out problems regarding the firm’s hallmark possession disagreement and its hefty dependence on the earnings of the franchise business shop. Regulatory authorities wound up in Greenlight Liu Fu’s Shenzhen IPO application in 2022, however the firm after that selected to change to the city’s IPO market rebirth.
The firm, formally referred to as Zhou Tian Fu, was started by Weipeng and a good friend in 2004 when China even more opened its precious jewelry market by opening up a huge profession facility in the Shuibei area of Shenzhen and transforming it right into among the globe’s biggest gold retail markets. Weizhu, that finished from the College of Furesion, had a short task in the financial institution and acquired a level in financing. He likewise signed up with Zhou Liu Fu as basic supervisor. In 2004, he got all shares from his bro’s close friend.
Like several various other Chinese gold jewelry experts, Zhou Liu Fu has actually proactively increased with the franchise business version for several years. Concentrating on the mass market sector of the precious jewelry market, the firm is the 5th biggest precious jewelry chain by shop matter in 2024, pointing out expert Frost & Sullivan. It has 4,125 shops in the nation, virtually 98% of which are franchisees and over half remain in or listed below the third-tier cities. Zhou Liufu likewise has 4 abroad shops in Cambodia, Laos and Thailand.
In spite of reducing intake in China, Liu Fu’s web earnings in 2024 increased 7% to 706.3 million yuan (US$ 98.5 million), and his earnings increased 11% to 5.7 billion yuan. The firm associates development to its increased franchise business network.
Zhou Liu’s IPO complies with the Hong Kong launching of young competing Laopu Gold in June in 2015. Ever since, Laopu Gold’s supply has actually risen greater than 1,100%, pressing its creator, Xu Gareming right into the globe’s wealthiest supplies. The Beijing-based firm rebels versus China’s bigger retail slump with its elderly placements. Its intricate gold precious jewelry cost is independent of the everyday gold market changes, which is a passion in Chinese customers looking for safe house properties.
In reaction, Liu Fu has actually attempted to improve his brand name picture in recent times, open shops in premium mall, and launch items that incorporate standard Chinese gold craft innovation.
