LFX(600612)2024-11-14 08:24Group 1: Financial Performance - The company's cumulative cash dividends from 2018 to 2023 amounted to 43.73 billion CNY, with a dividend payout ratio of 43.78% of net profit during the same period [1] - In the first nine months of 2024, the total sales of gold jewelry decreased by 10.40% in January, 12% in August, and 10.40% in September, reflecting a downward trend in the market [1] - The domestic raw gold production in the first three quarters of 2024 was 268.068 tons, a decrease of 1.17%, while the national gold consumption was 741.732 tons, down 11.18% [5] Group 2: Market Conditions - The rapid increase in gold prices, with a rise of approximately 23% in the closing price at the Shanghai Gold Exchange, has significantly impacted end-consumer demand [5] - The retail market for gold jewelry has shown a declining trend since April 2024, with a year-on-year decrease of 10.10% in sales [2] - The company has adjusted its sales policies to support distributors and franchisees in response to the slowdown in retail sales [3] Group 3: Strategic Initiatives - The company plans to continue innovating in product design and marketing to attract younger consumers and enhance brand appeal [4] - There are no current plans for stock repurchase or increase in holdings, focusing instead on product development and market expansion [2] - The company is actively exploring new policies and market dynamics to address B-share issues and improve market positioning [2] Group 4: Future Outlook - The company aims to enhance its operational quality and adapt to market changes by upgrading store themes and expanding product lines [6] - Future growth strategies include leveraging e-commerce channels and hosting exclusive product sales events to increase customer engagement [5] - The company is committed to maintaining a stable and high-quality development trajectory while safeguarding investor interests [4]