[LV parent company was exposed to weak sales, European luxury goods giant’s stock evaporated by more than 2 trillion yuan] On October 13th, the latest financial report released by France’s LVMH Group on the 12th showed that in the third quarter of this year, the group’s overall organic sales growth was lower than expected. As the world's largest luxury goods group and the first leading company in the luxury goods industry to disclose its third quarterly report, LVMH's financial report may exacerbate market concerns. The financial report shows that from July to September this year, LVMH Group’s organic sales after excluding the impact of exchange rate fluctuations were 18.5 billion euros, approximately RMB 138 billion. The organic growth rate was only 1% year-on-year, slightly lower than analysts’ expectations of 1.3%, and lower than the 3% growth rate in the second quarter. The fashion and leather goods department, which contributes nearly half of the group's revenue, saw organic sales decline by 5% year-on-year, a decline far exceeding the 1.8% previously expected. It is reported that since the beginning of this year, the total stock market value of major European luxury goods groups has evaporated by approximately 330 billion euros (approximately 2.46 trillion yuan). (CCTV Finance)