Chow Tai Fook Jewellery Group Announces FY2023 Interim Results

Results Highlights

• Despite the macro-economic challenges and pandemic-led business disruptions, the Group reported a resilient set of results as revenue rose 5.3% year-on-year to HK$46,535 million for 1HFY2023, supported by favourable store opening momentum in Mainland China (the "Mainland") and strength in gold jewellery and products
• Retail network expanded to 6,948 point of sales ("POS") as at 30 September 2022 with a net addition of 933 CHOW TAI FOOK JEWELLERY POS in the Mainland
• Gross profit increased 1.6% to HK$10,962 million. Adjusted gross profit margin declined to 22.4% from 23.5% in the same period last year, mainly attributable to a higher contribution from our wholesale business and gold jewellery and products
• The Group became a constituent stock of the Hang Seng Index ("HSI") in September 2022 and will be included in the MSCI China Index from close of 30 November 2022. These milestones will support diversification and institutionalisation of the shareholder base and improve trading liquidity
• The Group is advancing strategic priorities to support its margin and growth ambitions over the medium-term by strengthening competitiveness, enhancing the quality of earnings, and driving long-term value creation for stakeholders

HONG KONG, CHINA / ACCESSWIRE / November 24, 2022 / Chow Tai Fook Jewellery Group Limited ("Chow Tai Fook Jewellery Group", the "Group" or the "Company"; SEHK stock code: 1929), today announces its interim results for the six months ended 30 September 2022 ("1HFY2023").