证券代码：002867 证券简称：周大生 公告编号：2024-052 周大生珠宝股份有限公司 2024 年半年度权益分派实施公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、根据《深圳证券交易所上市公司自律监管指引第9号——回购股份》等相 关规定，周大生珠宝股份有限公司（以下简称"公司"）通过回购专用证券账户 持有的公司股份10,452,372股不享有利润分配权利，因此本次享有可参与利润分 配权的股份总数为1,085,473,893股（现有总股本1,095,926,265股剔除已回购股份 10,452,372股）。 2、在本次权益分派方案不变的前提下，2024年半年度权益分派实施后的除 权除息参考价格如下：公司本次实际现金分红的总金额=实际参与分配的总股本 ×分配比例，即325,642,167.90元=1,085,473,893股×0.3元/股，因公司已回购股份 不参与分红，本次权益分派实施后，根据股票市值不变原则，实施权益分派前后 公司总股本保持不变，现金分红总额分摊到每一股的比例将减小，因此，本次权 益分派实施后除权除息价格计算时，每股 ...

代码：002867 证券简称：周大生 编号：2024-037 周大生珠宝股份有限公司 投资者关系活动记录表 | --- | --- | |---------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | □分析师会议 | | | □业绩说明会 | | 投资者关系活动类别 | □路演活动 | | | ...

代码：002867 证券简称：周大生 编号：2024-036 周大生珠宝股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------------|----------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | √特定对象调研 | □分析师会议 | | | ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 根据《深圳证券交易所上市公司自律监管指引第 3 号——行业信息披露 （2023 年修订）》第四章第八节珠宝相关业务的要求，周大生珠宝股份有限公 司现将 2024 年 8 月份公司新增自营门店概况披露如下： | 序 | 门店名称 | 所在 | 开设时间 | 经营 | 面积 | 总投资金 | 主要商品 | | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | | 地区 | | 形式 | (m2 ) | 额（万元） | 类别 | | 1 | 周大生长沙高铁吾悦广场专 1 | 华中 | 2024.8.01 | 专卖 | 93.33 | 600 | 素金、镶嵌 | | | 卖店 | | | 店 | | | | | 2 | 周大生长沙松雅湖吾悦广场 2 | 华中 | 2024.8.06 | 专卖 | 124.03 | 600 | 素金、镶嵌 | | | 专卖店 | | | 店 | | | | | 3 | 周大生国家宝藏哈尔滨远大 3 | 东北 | 2024.8.07 ...

Investor Relations Activity - Investor relations activity category: Other (teleconference) [1] - Number of investors: 5 [1] - Participating units and personnel: Jianxin Pension (Xu Rui), Dan Shui Quan (Luo Zhiwei), CITIC Securities (Ye Le, Zhang Shuyi, Li Jie) [1] - Date and location: September 13, 2024, online [1] - Company representatives: Board Secretary and Vice President (He Xiaolin), Securities Affairs Representative (Rong Huan) [1] Key Discussion Topics - Main financial indicators for the first half of 2024 [1] - Impact of gold price fluctuations [1] - Store opening pace [1] - National Treasure series [1] - Industry situation [1] Compliance and Disclosure - Strict adherence to the "Information Disclosure Management System" to ensure the authenticity, accuracy, completeness, timeliness, and fairness of information disclosure [1] - No leakage of undisclosed major information during the reception process [1]

%% %% 丨证券研究报告丨 公司研究丨点评报告丨周大生（002867.SZ） [Table_Title] 周大生 2024年中报点评：毛利额平稳费用增加， 中期分红增强股东回报 | --- | --- | --- | --- | |--------------------------------------------------------------------------------------|----------------------------------|-------|-------| | | | | | | 报告要点 | | | | | [Table_Summary] 公司发布 2024 年中报，报告期内实现营收 82.0 亿元，同比增长 | 1.5% ，实现归母净利润 6.0 亿 | | | 分析师及联系人 [Table_Author] SAC：S0490514080004 SAC：S0490520080019 SFC：BUV258 李锦 罗祎 张彦淳 请阅读最后评级说明和重要声明 周大生（002867.SZ） cjzqdt11111 相关研究 [Table_Title 周大生 202 ...

代码：002867 证券简称：周大生 编号：2024-034 周大生珠宝股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------------------------|----------------------------------------|----------------------------------------------------------------| | | | | | | □特定对象调研 | □分析师会议 | | | □媒体采访 | □业绩说明会 | | 投资者关系活动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | √其他(电话会议 ) | | | | 共计 17 位投资者（排名不分先后）： | | | | 华富基金：王叶 | 东证融汇：刘一霖 | | | 上海雪石资管：吴曦 | 阳光保险：赵欣茹 | | | 上海瓴仁私募基金：吕若晨 | 上海雪石资管：黄格格 | | 参与单位名称 | 万和证券：范慧华 | 财通证券：简曲 | | 及人员姓名 | 财通基金：王逸欣 | 野村东方国际证 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][6] Core Views - The company reported a revenue of 8.197 billion yuan for the first half of 2024, a year-on-year increase of 1.52%, while the net profit attributable to shareholders decreased by 18.71% to 601 million yuan [5] - The revenue from gold products continues to increase, contributing 84.93% of total revenue, while the revenue from embedded products decreased by 29.18% [5] - The company is expanding its store network, with a net increase of 124 stores in the first half of 2024, bringing the total to 5,230 stores [5] - The company maintains a high cash dividend payout ratio of 54.14% [5] Summary by Sections Financial Performance - In Q2 2024, the company achieved a revenue of 3.126 billion yuan, a year-on-year decrease of 20.89%, and a net profit of 260 million yuan, down 30.51% [5] - The gross profit margin for the first half of 2024 was 18.38%, a slight decrease of 0.08 percentage points year-on-year [5] - The company plans to distribute a cash dividend of 3 yuan for every 10 shares, totaling 326 million yuan [5] Product and Channel Analysis - The revenue from franchise channels was 5.932 billion yuan, a slight decrease of 0.74%, while self-operated channels saw a growth of 16.35% to 963 million yuan [5] - E-commerce revenue grew by 3.09% to 1.191 billion yuan, contributing 14.53% to total revenue [5] Store Expansion - The company added 297 stores and closed 173, resulting in a net increase of 124 stores in the first half of 2024 [5] - The majority of stores are located in third-tier cities and below, accounting for 67.9% of total stores [5] Future Outlook - The company expects revenue growth of 6.77%, 9.25%, and 10.21% for the years 2024, 2025, and 2026, respectively [6] - The projected net profit for 2024 is 1.315 billion yuan, with a slight decrease of 0.09% year-on-year, followed by growth of 18.13% and 14.67% in the subsequent years [6]

[Table_Stock] 周大生（002867） | --- | |-------| | | | | | --- | |-------| | | | | | | | | | | | | | | | | [Table_Rating] 买入（维持） [◼Table_Summary] 投资摘要 事件概述 [行业Table_Industry] : 纺织服饰 日期: shzqdatemark 2024年09月05日 | --- | --- | |-------------------------|----------------------| | | | | | | | [Table_Author] 分析师 : | 张洪乐 | | | | | Tel: | 021-53686159 | | E-mail: | zhanghongle@shzq.com | | SAC 编号 : | S0870523040004 | | --- | --- | |-----------------------------|-------------| | | | | [Table_BaseInfo] 基本数据 | | | 最新收盘价（元 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [2] Core Views - The company experienced a revenue growth of 1.5% in H1 2024, but net profit declined by 19% [1] - The company declared an interim dividend of 0.3 CNY per share, with a payout ratio of 54.14%, indicating a stable dividend policy [1] - The company is expected to face a 7.7% decline in net profit for 2024 due to a fluctuating consumer environment [8] Revenue Analysis - H1 2024 revenue reached 8.2 billion CNY, with a slight decrease in gross margin to 18.4% [1] - Q2 2024 revenue fell by 20.9% to 3.13 billion CNY, while gross margin improved by 3.9 percentage points to 22.9% [1] - The self-operated offline channel saw a revenue increase of 16.35% to 960 million CNY in H1 2024 [3] - Online sales grew by 3.09% to 1.19 billion CNY, with a significant increase in gross profit margin due to product mix optimization [3] Product Performance - Revenue from gold jewelry increased by 3.43% to 6.96 billion CNY in H1 2024, benefiting from rising gold prices [8] - Revenue from embedded jewelry decreased by 29.18% to 370 million CNY, with a decline in gross margin [8] Financial Forecast - The company is projected to achieve revenues of 17.47 billion CNY in 2024, with a net profit of 1.21 billion CNY [9] - The expected P/E ratio for 2024 is 10 times, maintaining the "Accumulate" rating [8]