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Zhou Dafu Net Profit Fell 13% Last Year, The Overall Slowdown In Earnings Growth
< p > Zhou Dafu Jewelry Group recently released its annual earnings report for 2013. Data show that as of March 31, 2013, the group's turnover last year was HK $57 billion 434 million, although it increased by 1.5% from HK $56 billion 571 million in the previous year, but still far away from the 61.4% increase in 2012. Its net profit last year was HK $5 billion 505 million, down 13.2% compared with the same period last year, compared with a significant increase of 79.2% last year. < /p >
Zhou Dafu's main source of revenue, the mainland's mainland market, also declined. Data show that Zhou Dafu's business income in mainland China last year was HK $30 billion 300 million, a decrease of 5.3% from HK $32 billion 16 million last year, and its proportion of total revenue declined from 56.6% last year to 52.8%, or 3.8 percentage points lower than that of last year's P. < /p >
At the end of March 2013, Zhou Dafu had a total of 1836 retail outlets, although the net sales increased by 209 compared with the previous fiscal year. However, the overall same store sales decreased by 3.3% over the 2012 fiscal year, while the data grew by 40.3% in the fiscal year of last year, compared with 2012 in the fiscal year. Among them, the same store sales in mainland China, Hong Kong, Macao and Taiwan fell by 3% and 3.7% respectively, while the figures increased 32% and 48.4% respectively over the previous fiscal year. Zhou Dafu pointed out that the decrease in sales in the same store this year was due to a slowdown in sales of precious jewellery and a decline in the retail environment in the mainland of China. < /p >
< p > store distribution, Zhou Dafu currently has 1836 retail outlets, 1640 are in mainland China, accounting for nearly 95%. Last year, 192 of the 209 new stores opened in the mainland of China, and 112 of them opened in the three and below cities of mainland China. < /p >
< p > specific products, Zhou Dafu group's main products, jewelry, jewelry and gold products last year accounted for 22.9% and 57.4% of the total turnover respectively. Among them, sales of jewellery jewellery fell 14.4% to HK $13 billion 165 million compared with the same period last year, while gold products sales benefited from the gold price, up 10.8% from HK $32 billion 955 million to HK $32 billion 955 million over the previous year. < /p >
Less than p gross profit, Zhou Dafu gross profit last year was HK $16 billion 283 million, basically unchanged from last year. Last year, gross profit margin was 28.4%, down 0.7 percentage points from 29.1% last year. < /p >
< p > in addition, Zhou Dafu's cost expenditure rose sharply in the current fiscal year. Data show that its sales and distribution costs and administrative expenses increased to HK $9 billion 181 million, up 1 billion 146 million Hong Kong dollars from HK $8 billion 35 million in the previous year, and the proportion of revenue increased from 14.2% last year to 16%. Zhou Dafu's advertising and publicity expenses are also growing. Data show that the amount has increased from HK $448 million last year to HK $797 million. In terms of rent, Zhou Dafu said it was affected by new stores. Last year's rent increased to HK $1 billion 15 million compared with HK $672 million last year. < /p >
Zhou Dafu's main source of revenue, the mainland's mainland market, also declined. Data show that Zhou Dafu's business income in mainland China last year was HK $30 billion 300 million, a decrease of 5.3% from HK $32 billion 16 million last year, and its proportion of total revenue declined from 56.6% last year to 52.8%, or 3.8 percentage points lower than that of last year's P. < /p >
At the end of March 2013, Zhou Dafu had a total of 1836 retail outlets, although the net sales increased by 209 compared with the previous fiscal year. However, the overall same store sales decreased by 3.3% over the 2012 fiscal year, while the data grew by 40.3% in the fiscal year of last year, compared with 2012 in the fiscal year. Among them, the same store sales in mainland China, Hong Kong, Macao and Taiwan fell by 3% and 3.7% respectively, while the figures increased 32% and 48.4% respectively over the previous fiscal year. Zhou Dafu pointed out that the decrease in sales in the same store this year was due to a slowdown in sales of precious jewellery and a decline in the retail environment in the mainland of China. < /p >
< p > store distribution, Zhou Dafu currently has 1836 retail outlets, 1640 are in mainland China, accounting for nearly 95%. Last year, 192 of the 209 new stores opened in the mainland of China, and 112 of them opened in the three and below cities of mainland China. < /p >
< p > specific products, Zhou Dafu group's main products, jewelry, jewelry and gold products last year accounted for 22.9% and 57.4% of the total turnover respectively. Among them, sales of jewellery jewellery fell 14.4% to HK $13 billion 165 million compared with the same period last year, while gold products sales benefited from the gold price, up 10.8% from HK $32 billion 955 million to HK $32 billion 955 million over the previous year. < /p >
Less than p gross profit, Zhou Dafu gross profit last year was HK $16 billion 283 million, basically unchanged from last year. Last year, gross profit margin was 28.4%, down 0.7 percentage points from 29.1% last year. < /p >
< p > in addition, Zhou Dafu's cost expenditure rose sharply in the current fiscal year. Data show that its sales and distribution costs and administrative expenses increased to HK $9 billion 181 million, up 1 billion 146 million Hong Kong dollars from HK $8 billion 35 million in the previous year, and the proportion of revenue increased from 14.2% last year to 16%. Zhou Dafu's advertising and publicity expenses are also growing. Data show that the amount has increased from HK $448 million last year to HK $797 million. In terms of rent, Zhou Dafu said it was affected by new stores. Last year's rent increased to HK $1 billion 15 million compared with HK $672 million last year. < /p >
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