New Stock News | Chow Tai Fook's Hong Kong Stock IPO Approved by China Securities Regulatory Commission

On May 15th, the China Securities Regulatory Commission issued a notice regarding the overseas issuance and listing as well as the "full circulation" of unlisted shares domestically for Zhou Liu Fu Jewelry Co., Ltd. Zhou Liu Fu plans to issue no more than 145,173,700 shares of overseas listed common stock and list on the Hong Kong Stock Exchange. According to the disclosure by the Hong Kong Stock Exchange on February 28th, Zhou Liu Fu has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and China Securities Co., Ltd. International as its joint sponsors. This is the second time Zhou Liu Fu has applied for a listing in Hong Kong following the application failure on June 27, 2024. The prospectus shows that Zhou Liu Fu is a Chinese jewelry company that provides a variety of jewelry products through offline stores and online sales channels. The company integrates jewelry R&D, design, production, chain sales, and brand operation, mainly operating the "Zhou Liu Fu" jewelry brand, with mainly products including diamond-set jewelry, plain gold jewelry, and other jewelry. According to Frost & Sullivan data, based on the number of stores in China, the company maintained its position among the top five brands in the Chinese jewelry market for seven consecutive years from 2017 to 2023. As of the year ended December 31, 2023, the company ranked tenth among all gold jewelry companies in China in terms of revenue from gold jewelry products.