Last year's "Golden Gold Tide" brought a group of gold jewellery listed companies to the performance, but the tide retreated, and some gold jewellery companies handed over a roller coaster-style first-quarter transcript. Recently, the sales data of the first quarter of fiscal year 2015 released by Luk Fook Group showed that same-store sales fell 54% year-on-year. Compared with the same-store sales growth of 90% in FY2014, the performance diving was obvious. Coincidentally, Chow Tai Fook’s first-quarter results also showed that same-store sales fell 40%. Li Zhiguo, director of the operation and management center of Jinxin Jewelry Group, told the reporter of China Business News that last year's three wave of gold rushed over the entire gold product consumer market. "Since this year, the consumption of gold and jewelry market has been weak, and the industry has generally declined by 20% to 30%. ." The Luk Fook Group’s quarterly report shows that the decline in gold products is particularly eye-catching. According to the report, same-store sales of Lufu gold products fell by 65% ​​in the first quarter, while same-store sales of gold products in the mainland, Hong Kong and Macau markets fell by 59% and 65% respectively. Chow Tai Fook’s first-quarter earnings report for the fiscal year ending June showed that its retail value and same-store sales both fell 32%, same-store sales fell 40% year-on-year, and same-store sales of gold products fell 56%. The Luk Fook Group said that this was affected by the high base effect triggered by the “golden tide†in the first quarter of fiscal 2014. Similarly, Chow Tai Fook’s managing director, Huang Shaoji, also said in the first quarter results conference call that the same store sales fell in the first quarter of this year due to the gold tide in the same period last year. However, compared with the two Hong Kong-owned jewellery companies, the financial reports of several mainland jewellery companies are relatively stable. Lao Fengxiang achieved revenue of 10.11 billion yuan in the first quarter of 2014, a year-on-year increase of 11.22%. Among them, the net profit attributable to shareholders of listed companies was 237 million yuan, an increase of 11.34%. Mingpai Jewelry achieved a total operating income of 2.83 billion yuan in the first quarter of 2014, an increase of 17.65% over the same period of the previous year. In response, a jewellery industry official told reporters: "Hong Kong-owned jewellery companies have some different characteristics from mainland jewellery companies. The former pays more attention to brand image, culture, crafts, etc., and the latter, in addition to these, also pay attention to the market demand of consumers, and In terms of meeting the individual needs of consumers, they have more advantages in terms of cultural insights, so when they encounter market volatility, their performance is relatively stable." However, Xue Jing, general manager of Liaoning Xinglong Family Gold Company, told reporters that since this year, companies such as Chow Tai Fook and Luk Fook have become more and more cautious. In the market environment where prices are not stimulating, there is no large-scale marketing promotion activities in the first half of the year. Xue Jing believes that the market overdraft in the later period of “grabbing the gold tide†has the greatest impact on jewelry enterprises with gold products as their main business. This phenomenon has been reflected in the business data of Luk Fook and Chow Tai Fook. In the first quarter, Luk Fook Jewelry inlaid jewelry sales fell 19% year-on-year, far lower than the decline in gold products; while Chow Tai Fook's jewelry inlaid jewelry same store sales increased by 2%. Huang Shaoji once said that in the future, it will increase the proportion of jewelry inlaid jewelry, thereby increasing the gross profit. Increasing the proportion of non-gold products has become a development strategy for some gold jewelry companies. Li Zhiguo believes that on the one hand, diversified product structure can effectively stabilize performance; on the other hand, non-gold products such as pearls, jade, and platinum have relatively high profits. Shi Hongyue, deputy secretary general of the China Jewelry and Jade Jewelry Industry Association, told reporters that the overall growth rate of the gold and jewellery industry has declined this year, which is related to the actual economic situation and the consumption environment, and also related to the development of the industry itself. After years of rapid development, gold jewellery companies have also entered an adjustment period, which has changed in terms of product structure, business model and consumption concept. The transition of the growth rate of the gold and jewellery industry is also normal. "Despite this, from the perspective of the development of the entire jewelry industry, the prospects are still worth looking forward to." Shi Hongyue said, "From the development of the foreign jewelry industry, we can see that the development of the national economy and the development of the jewelry industry are positively related. The Chinese jewelry industry is Faced with the challenge of relatively excess capacity, it is the only way for jewelry companies to cope with the new situation by accelerating product structure adjustment and accelerating enterprise transformation and upgrading." However, Li Zhiguo believes that after the gold rush, the market will take about a year to adjust. Xue Jing said that this process takes about 3 to 4 years. Knit Fabric,Very Favorite Brush Fabric,Soft Brush Fabric,Popular Cvc Yarn Jacquard SHAOXING SKYUP , https://www.dealltextile.com