The overall retail value of Lukfook Group (00590) increased 32% year-on-year in the first quarter

Zhitong Finance App News, Lukfook Group (00590) announced that the group's overall retail value (including its own stores, brand stores and e-commerce business) and retail revenue (including its own stores and e-commerce business) increased by 32% and 43% year-on-year respectively in the first quarter. Among them, the retail value of gold and platinum products increased by 6 percentage points to 82% year-on-year due to a sharp increase in sales of investment gold products.

The Group's overall same-store sales increased further to +39% in the first quarter. Although the average international gold price (per ounce) increased by 37% year-on-year during the quarter, same-store sales of gold products by weight increased to +50%, and the increase in same-store sales weight turned negative to +13%. Same-store sales of priced-price jewelry products were +14%, of which price-priced gold products still reached +34% at a high base, and -17% for 18K gold diamond products.

Among them, the Group continued its upward trend in the first quarter in Hong Kong, China, Macau, and overseas markets. Retail value (including self-operated stores, brand stores and e-commerce business) and retail revenue (including self-operated stores and e-commerce business) increased by an average of 41% year-on-year, mainly benefiting from strong local demand in the Hong Kong market, as well as product price differentials and RMB appreciation in the Hong Kong and Macau markets, driving growth in mainland passenger traffic and business.

Overall same-store sales in Hong Kong, Macau and overseas markets further improved to +41%, with same-store sales in Hong Kong being +44%, Macau +49%, and overseas markets +14%.

Same-store sales of gold products in Hong Kong, Macao and overseas markets continued to rise by +55% last quarter. Same-store sales of priced jewelry products were +15%. Among them, same-store sales of priced gold products also reached +35% under a high base, and -16% for 18K gold diamond products.

The overall retail value of the mainland market in the first quarter (including self-operated stores, brand stores and e-commerce businesses) increased by 22% year-on-year. Among them, the retail value of gold products increased by 34%, while the retail value of price-priced jewellery products decreased by 15%. Among the price-priced jewellery products, the retail value of price-priced gold products and 18K gold diamond products decreased by 5% and 56%, respectively.

Mainland retail revenue (including self-operated stores and e-commerce business) was still better than the previous quarter, rising 41% year-on-year, while sales of the Mainland e-commerce business increased 39% year-on-year.

Overall same-store sales growth in the mainland market (including self-operated stores and branded stores) was over 20%. Among them, same-store sales of self-operated stores turned negative by +16% compared to the previous quarter. Same-store sales of gold products were +21%, while the same store sales of priced jewellery products were -7%, of which +14% were priced gold products and -58% for 18K gold diamond products.

The group re-entered the Singapore market during the quarter and opened a self-operated store to further expand its international business footprint. Along with a new brand store opened in Vietnam, the group added a total of two overseas stores in the first quarter. However, with the continuous optimization and integration of the brand store networks in Tier 4 and 5 cities in the Mainland, the number of the Group's global stores decreased by a net of 148 during the quarter. As of June 30, 2026, the Group has 2,857 stores worldwide.

The Group has 157 “Lukfook Jewellery” stores worldwide, including 72 in the Mainland, 48 in Hong Kong, 17 in Macau and 20 overseas. As of the above date, along with 2,204 mainland and 29 overseas brand stores, the Group has a total of 2,390 “Lukfook Jewellery” stores around the world.

In addition, the Group has 171 “Jinzhizun” self-operated stores worldwide, including 165 in the Mainland and 6 in Hong Kong. As of the above date, together with 93 mainland and 1 overseas brand store, the Group has set up a total of 265 “Gold Supreme” stores around the world.