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Chow Tai Fook Jewellery Group Ltd
F:1CT

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Chow Tai Fook Jewellery Group Ltd Logo
Chow Tai Fook Jewellery Group Ltd
F:1CT
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Price: 1.21 EUR -0.82%
Market Cap: €12.1B

Chow Tai Fook Jewellery Group Ltd
Investor Relations

Chow Tai Fook Jewellery Group makes and sells gold, platinum, diamond, and gemstone jewellery, along with gold investment products and watches. Its business is centered on designing jewellery, sourcing precious materials, and distributing finished pieces through its own retail stores, franchise partners, and wholesale channels, mainly in Greater China and other Asian markets. The company earns money when customers buy jewellery and related products, and also through fees and wholesale sales to franchisees and partners who use its brand and supply chain. Its main customers are everyday consumers buying gift and wedding jewellery, as well as buyers looking for trusted gold products and branded fashion pieces. What sets the business apart is its role as both a well-known consumer brand and a large jewellery supply chain operator. It does not just sell finished pieces; it also helps set design, quality, and distribution standards across a wide network of stores and partners, which gives it a strong place in the jewellery market.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 25, 2025
AI Summary
Q2 2026

Steady Revenue: Revenue held steady at HKD 39 billion in the first half, despite gold price volatility and network rationalization.

Margin Strength: Gross profit margin remained high at about 30%, and operating margin reached a five-year high of 17.5%, driven by product mix and cost discipline.

Fixed-Price Jewelry Growth: Fixed-price jewelry sales rose nearly 50% year-on-year to HKD 3.4 billion, now making up almost 32% of RSV.

Store Optimization: Net closure of 611 stores in Mainland China prioritized productivity, with new stores in high-tier cities showing notably higher sales and over 70% productivity improvement.

E-commerce Surge: Mainland e-commerce RSV grew 28%, with ASP up to 3,000 and online channels like Douyin and CTF Mall up over 40%.

Operating Profit Resilience: Operating profit rose 0.7% year-on-year, and net profit attributable to shareholders remained stable at HKD 2.5 billion.

Dividend Maintained: Interim dividend of HKD 0.22 per share declared, with an 85.7% payout ratio.

Positive Outlook: Management affirmed confidence in continued recovery and sustainable growth, citing double-digit same-store sales growth quarter-to-date and upcoming strategic store openings.

Key Financials
Revenue
HKD 39 billion
Gross Profit Margin
about 30%
Operating Profit Margin
17.5%
Net Profit Attributable to Shareholders
HKD 2.5 billion
Interim Dividend per Share
HKD 0.22
Dividend Payout Ratio
85.7%
SG&A Ratio
14%
Inventory
HKD 63 billion
CapEx
HKD 227 million
Fixed-Price Jewelry RSV Contribution
Nearly 32%
Fixed-Price Collection Sales
HKD 3.4 billion
Mainland E-commerce RSV Growth
28%
E-commerce ASP
3,000
Net Store Closures in Mainland China
611
Cash Balance
Over HKD 10 billion
Net Gearing Ratio
83%
Pro Forma Free Cash Flows
Negative HKD 4 billion
Earnings Call Recording
Other Earnings Calls
2026

Management

Dr. Kar-Shun Cheng BA, DBA(Hon), GBM, GBS, LLD(Hon), MBA
Executive Chairman
No Bio Available
Ms. Chi-Man Cheng
Executive Vice-Chairman of the Board
No Bio Available
Mr. Chi-Keung Suen
Executive Director
No Bio Available
Mr. Ping-Hei Cheng
Joint Company Secretary & Executive Director
No Bio Available
Mr. Siu-Kee Wong
MD & Executive Director
No Bio Available
Ms. Annie Wang
Chief Operating Officer
No Bio Available
Ms. Danita On
Senior Director of Investor Relations & Corporate Communication
No Bio Available
Mr. Sau-Cheong Lai
Joint Company Secretary & Group General Counsel
No Bio Available
Ms. Yin-Ming Lui
Chief People Officer
No Bio Available

Contacts

Address
38/F, New World Tower, 16 - 18 Queen's Road Central, Central
Contacts
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