ZHOU LIU FU (06168) surged more than 8% in late trading, closing up 7.34% at HK$50.9 with a turnover of HK$487 million. The company recently announced plans to introduce a new joint-venture store partnership model, collaborating with franchisees to co-invest and operate "Three-Excellent" stores (prime locations, premium products, and superior operations). This model is expected to mitigate investment risks, boost store expansion momentum, and drive both store count growth and higher per-store revenue, positively impacting the group's performance.

The newly launched "Co-Creation Partnership Program" under the emerging sub-brand "CHAOJIN" essentially upgrades the traditional light-asset franchise model to an "equity partnership system." By establishing regional operating entities (with the company holding 51% and franchisees holding 49%), ZHOU LIU FU not only deepens capital integration and consolidates off-balance-sheet operations but, more crucially, transforms channel partners from transactional counterparts into stakeholders. This shift unlocks significant potential for reassessing the company's valuation and profit model.