BRIEF: Zhou Liu Fu profit rises 30% in first quarter
Jeweler Zhou Liu Fu Jewellery Co. Ltd. (6168.HK) on Thursday reported revenue of about 1.27 billion yuan ($187 million) in the first quarter, while it said its profit for the period rose 29% year-over-year.
In its statement containing limited first-quarter data, the company said its brands such as Zhou Liu Fu and Miaoji delivered 50% year-on-year growth in their gross profit contributions from online channels, enhancing the company’s profitability.
Shares of Zhou Liu Fu opened down 2% at HK$18.90 on Friday. The company’s stock briefly more than doubled after its IPO last June, but has given back all the gains and currently trades 20% below its listing price of HK$24.
By Lau Chi Hang
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