According to Futu News on March 30th,$TONGSHIFU (00664.HK)$The grey market price has dropped by 20%, currently quoted at HKD 48.00, with a total market capitalization of nearly HKD 3.1 billion.
Source of market information: Futu Securities
Company Overview
Since its establishment, Tong Shifu has been committed to integrating traditional craftsmanship with modern design and usage scenarios to develop copper-based cultural and creative products. According to the Frost & Sullivan report, in the fiscal year ended December 31, 2024, the company ranked first in China’s copper-based cultural and creative crafts market by total revenue, capturing a market share of 35.0%. The Tong Shifu brand originated from a copperware workshop that inherited Chinese traditional craftsmanship and has since grown into a leading national cultural and creative brand. Through continuous investment in original design and research and development, the company has expanded its material portfolio to include gold, silver, and plastic, reaching a broader audience.
The company adopts a product and pricing strategy aimed at offering high-quality cultural and creative goods to a wide consumer base. By carefully balancing material quality, production complexity, and design sophistication, it ensures that every product reflects a high perceived value. The pricing takes into account material selection, production intricacy, and design features. Products made from copper, silver, and other materials are developed according to consistent production standards. With a multi-tiered pricing structure, the company successfully caters to a broad range of consumers, including first-time buyers, repeat purchasers, and long-term collectors.
Financial Overview
For the fiscal years ended December 31, 2022, 2023, and 2024, as well as the nine months ended September 30, 2024, and 2025, Tong Shifu's revenues were RMB 503.2 million, RMB 506.4 million, RMB 571.2 million, RMB 402.4 million, and RMB 447.7 million, respectively.
The company's gross profit increased by 1.2% from RMB 162.2 million for the fiscal year ended December 31, 2022, to RMB 164.2 million for the fiscal year ended December 31, 2023, while the gross margin remained stable at 32.2% and 32.4%, respectively. From RMB 164.2 million for the fiscal year ended December 31, 2023, it grew by 23.1% to RMB 202.1 million for the fiscal year ended December 31, 2024, with the gross margin rising from 32.4% in 2023 to 35.4% in 2024.
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Editor/Joe Liang