Lao Fengxiang Annual Pure Profit 1 Billion 200 Million Continues To Lead The Mainland Jewelry Market.

Limited by Share Ltd, the largest gold jewelry retailer in mainland China, made a net profit of 1 billion 209 million yuan last year, an increase of 6.40% from 1 billion 136 million 200 thousand yuan in 2017, and earnings per share increased from 2.1720 yuan to 2.3111 yuan.

During the reporting period, the income of Lao Fengxiang increased by 9.98% to 43 billion 784 million 500 thousand yuan per year, compared with 39 billion 810 million yuan in 2017.

Statistics released by the National Bureau of statistics show that sales of gold, silver and jewellery increased by 7.4% over 2018 years.

According to his income, Lao Fengxiang is China's second largest jeweller, second only to Hongkong based Zhou Dafu jewellery (1929.HK), and Zhou Dafu jewelry as at the end of March 2018 in the 2018 fiscal year of HK $59 billion 156 million.

However, because Zhou Dafu's profitability is far superior to that of Lao Feng Xiang, the two companies are far from the market.

By the end of Thursday, the market value of Lao Fengxiang 21 billion 448 million yuan was only 80 billion 400 million Hong Kong dollars of Zhou Dafu jewelry, or about 31% of the market value of 68 billion 689 million yuan.

In the 2018 fiscal year, Zhou Dafu jewelry made a net profit of HK $4 billion 95 million, three times that of Lao Fengxiang in 2017.

In terms of price earnings ratio, Zhou Dafu's current TTM earnings ratio is 19.66 times 17.74 times that of old Feng Xiang, which is about 10%.

In the long march of Hong Kong gold and jewellery company, Lao Feng Xiang also went south to capture the Hongkong market.

At the end of August, China Daily reported that Lao Fengxiang continued to enhance the strength of Lao Fengxiang Hongkong Jewelry Co., Ltd., and accelerated the layout of overseas markets, and opened 11 Silver Towers in Hongkong as at the end of June.

In its 7 day performance bulletin, the board of directors stated that in the face of market environment where opportunities and challenges coexist, the company should maintain strategic strength, optimize market layout, speed up the construction of marketing network and improve market share in accordance with the annual target.

During the reporting period, the business scale and economic efficiency of the company once again refreshed the best level in history and continued to lead the national jewelry industry.

The shares of Limited by Share Ltd (600612.SH) were reported to be 41 yuan on Thursday, a 1.68% decline.

Author: Hua Fei