Chuanghui Jewelry made a profit of approximately HK$350,000 in the first half of the fiscal year
In the first half of the fiscal year ending September 30, Chuanghui Jewelry’s operating revenue decreased by 20.1% year-on-year to HK$64.01 million. Specifically, revenue from gem-set jewelry amounted to approximately HK$24.2 million, while revenue from pure gold jewelry and products stood at approximately HK$12.7 million. Gross profit decreased by 16.5% year-on-year to HK$18.68 million, and profit attributable to shareholders dropped by 71.9% to HK$349,000.
Lukfook Group adjusts profit forecast for the first half of the fiscal year
Recently, Lukfook Group announced that its net profit for the first half of the fiscal year was estimated to have decreased by approximately 50% year-on-year. However, after excluding losses incurred from gold hedging, the profit decline narrowed to within 30% during the reporting period.
Gross profit of Zhongfa Development Holdings increased by 65.4% in the first half of the fiscal year
For the first half of the fiscal year ending September 30, the operating revenue of Zhongfa Development Holdings decreased by 4.4% year-on-year to HKD 86.75 million, while the gross profit increased by 65.4% year-on-year to HKD 5.854 million. The loss attributable to shareholders narrowed by 22.0% compared to the previous year to HKD 9.291 million.
International trends
Bain: Jewelry industry demonstrates strong resilience in 2024
Bain & Company stated that the global personal luxury goods market is expected to decline by 2% year-on-year to USD 383.48 billion in 2024, with only one-third of luxury brands achieving positive sales growth. Jewelry, particularly the high-end jewelry segment, has demonstrated strong resilience, showing an overall positive trend.
Revenue growth of Sarine’s lab-grown diamond business
In the first three fiscal quarters, Sarine Technologies’ revenue decreased by 10% year-on-year to $30.6 million. However, its revenue related to lab-grown diamonds doubled as the company expanded its lab-grown diamond grading business in India. Based on the growth of the lab-grown diamond business, the company remains optimistic about its long-term performance.
Bulgari invests in expanding its watch workshop
Recently, Bulgari announced that it will initiate an expansion project for its watchmaking workshop in Switzerland, which will involve increasing the workshop area and upgrading related equipment to enhance the brand’s watch production capacity and craftsmanship level.
