Lei Jianping on June 27
Liuliufu Jewelry Co., Ltd. (hereinafter referred to as "Liuliufu Jewelry") recently submitted a prospectus to be listed on the Hong Kong Stock Exchange.
Annual revenue of 5.15 billion
Liufu Jewelry is a jewelry company that provides high-quality jewelry products with a wide range of styles through offline stores and online sales channels.
The business model of Liufu Jewelry integrates jewelry product development and design, procurement and supply, franchise and brand operation to build an open, win-win, mutually beneficial and symbiotic business model.
As of December 31, 2023, the total number of offline sales network stores (including franchised stores and self-operated stores) has reached 4,383, which are located in 31 provinces and 301 prefecture-level cities and prefecture-level administrative regions, of which 4,288 are franchised stores and 95 are directly operated stores.
According to the prospectus, Liuliufu Jewelry's revenue in 2021, 2022, and 2023 will be 2.783 billion yuan, 3.1 billion yuan, and 5.15 billion yuan respectively; gross profit was 975 million yuan, 1.2 billion yuan and 1.35 billion yuan respectively; The gross profit margin was 35%, 38.7% and 26.2%, respectively.
The net profit of Liuliufu Jewelry in 2021, 2022 and 2023 will be 425 million yuan, 575 million yuan and 660 million yuan respectively, and the net profit margin will be 15.3%, 18.5% and 12.8% respectively.
As of December 31, 2023, the company had cash and cash equivalents of $178 million.
The Lee Wai Chu brothers control 94% of the voting rights
The executive directors of Liufu Jewelry are Li Weizhu, Li Weipeng, Xie Mingyu and Zhong Xipeng; The non-executive Director is Ms. Zhong Yingqin, and the independent non-executive Directors are Liu Guoxun, Ms. Yang Lan and Guo Qiuquan.
Before the IPO, Ruoshui United held 36.62% of the shares, Shangshan United held 27.46% of the shares, Qiankun United held 26.97% of the shares, Chuangming Investment held 2.64% of the shares, and Xianglong Chuangmei held 1.89% of the shares;
Shaobo Investment holds 1.44%, Meiyu Investment holds 1.21%, Yongcheng Shiwu holds 0.68%, Di Ai Jewelry holds 0.47%, Mingyang Investment holds 0.35%, and Zhengfu Investment holds 0.27%.
Ruoshui United and Shangshan United are both 100% controlled by Li Weizhu, Li Weizhu controls 82% of the equity of Chuangming Investment, 86.76% of the equity of Shaobo Investment, and Qiankun United is 100% holding company of Li Weipeng.
Li Weizhu, Li Weipeng, Shenzhen Liuliufu, Ruoshui United, Shangshan United, Qiankun United and Chuangming Investment jointly exercised approximately 93.70% of the voting rights of the Company and thus formed the Controlling Shareholder Group.
Li Weizhu is the chairman of the board of directors of the company, the spouse of Ms. Zhong Yingqin and the younger brother of Li Weipeng, vice chairman and general manager.
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