Getty
Li Weizhu, chairman of Zhou Liu Fu Precious jewelry, signed up with the billionaire positions in the very first 2 trading days on the Hong Kong Stock Market on Friday.
Li, 47, is Zhou Liu’s biggest investor, possesses wholly-owned financial investment cars and possesses 57% of the shares. According to his shares Forbes His total assets is approximated to be $1.2 billion. Li’s sibling Weipeng is the founder and vice-chairman of Zhou Liu, that possesses $522 million in riches under his 24% possession. Forbes price quote.
Lee got in the 3 extra pound club on Thursday the day after his launching in Hong Bourse on Thursday. The firm increased HK$ 1.3 billion (US$ 164.6 million) in its going public. Zhou Liufu did not react to an ask for remark.
Zhou Liu Fu is extensively considered a duplicate of Chow Tai Fook fashion 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 claimed in his syllabus that it was designated 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 accepted quit marketing the contested items and settle all associated costs to the complainant. At the same time, the firm consequently filed a claim against smaller sized rivals for hallmark violation. Zhou Liu Fu claimed in his syllabus that this is the complainant in 25 recurring lawful disagreements, most of which include hallmark violation cases.
Zhou Liufu made an application for a checklist of Shenzhen Stock market in 2019, however was declined by regulatory authorities, that mentioned problems concerning the firm’s hallmark possession conflict 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 picked to switch over to the city’s IPO market resurgence.
The firm, formally called Zhou Tian Fu, was established by Weipeng and a close friend in 2004 when China better opened its fashion jewelry sector 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 work in the financial institution and got a level in financing. He likewise signed up with Zhou Liu Fu as basic supervisor. In 2004, he got all shares from his sibling’s good friend.
Like lots of various other Chinese gold jewelry experts, Zhou Liu Fu has actually proactively increased via the franchise business design for years. Concentrating on the mass market section of the fashion jewelry sector, the firm is the 5th biggest fashion jewelry chain by shop matter in 2024, pointing out expert Frost & Sullivan. It has 4,125 shops in the nation, almost 98% of which are franchisees and majority remain in or listed below the third-tier cities. Zhou Liufu likewise possesses 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 connects development to its increased franchise business network.
Zhou Liu’s IPO adheres to 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 owner, Xu Gareming right into the globe’s wealthiest supplies. The Beijing-based firm rebels versus China’s broader retail slump via its elderly placements. Its sophisticated gold fashion jewelry cost is independent of the everyday gold market variations, which is a passion in Chinese customers looking for safe house properties.
In action, Liu Fu has actually attempted to boost his brand name photo in recent times, open shops in premium mall, and launch items that incorporate standard Chinese gold craft innovation.
Much More Forbes
