Zhou Dafu'S Target Was Opened To 300 Flagship Stores In 2020, The First Hearts On Fire Store Landed In Shanghai, China.

In June this year, it was Chow Tai Fook Jewelry Group Ltd..

Jewellery Group Co., Ltd., the US diamond jeweler Hearts On Fire Company LLC, which was purchased by US $150 million, has landed in the Chinese market. The first store in Nanjing Road, Shanghai, has officially opened.

According to Zhou Dafu group's family successor and group director Adrian Cheng, Zheng Zhigang said this financial year

It will also visit other cities such as Hongkong, Beijing, Nanjing and Hainan. In the spring of 2015, it will open a flagship store for Madison Boulevard in New York. The goal is to open 300 flagship stores for brands before 2020.

The group previously said that Hearts On Fire Company LLC in 2013, 75% of its sales came from products priced at 1000-10000 US dollars, and the rest of the products sold for more than 10000 dollars. The premium of its brand products was higher than that of other famous brands, far higher than half of the diamond without branding, which accords with the group's optimization of product mix and the promotion of high value products to meet the consumer's mode.

This week, Dafu jewellery group just released its sluggish first half financial year's performance. In the first half of September 30th, the group's net profit fell by 23.3%, down from HK $3 billion 510 million to HK $2 billion 690 million in the same period last year.

In the first half of the year, the group's same store sales fell by 31.2% year-on-year, while sales in the mainland and Hong Kong, Macao and Taiwan fell by 20.4% and 40.9% respectively.

Adrian Cheng Zheng Zhigang said that despite the overall market downturn, jewellery sales still had double-digit growth.

In the first half of the fiscal year, the sales of jewellery ornaments of Zhou Dafu group rose 24.8% to HK $8 billion 290 million, representing a sharp increase from 28.3% in the same period last year to 28.3%, while sales of gold products decreased by 41% to HK $14 billion 530 million, representing a decrease from 65.2% to 49.6%.

In view of the sluggish market, the main investment banks have lowered the target price of Zhou Dafu group, of which HSBC lowered its target price from HK $13.8 to HK $13.1, maintaining its overweight rating; JP Morgan lowered its target price from 13.4 to HK $12, maintaining its overweight rating; Suisse maintained its winning rating, lowered its target price from HK $13.5 to HK $13; UBS maintained its sexual rating, with a target price of HK $12.8 down to HK $11.8.