Chow Tai Fook Jewellery Group Announces FY2023 Interim Results - Seite 5

In Hong Kong, we expect pent-up demand for bridal jewellery and a gradual easing of social distancing measures to drive growth in the second half of FY2023. Encouraged by the marketing campaigns and member-exclusive events launched, we continue to pursue these efforts to build momentum to boost sales and deepen connections with customers. We however expect any further significant recovery of the Hong Kong and Macau market to be dependent on border re-opening. In the near term, we continue to closely monitor our store profitability and exercise disciplined cost management. We also remain attentive to expansion opportunities in Southeast Asia, such as Singapore, Malaysia and the Philippines and stay well-positioned to capitalise on them as they emerge.

Over the medium term, the Group will stay nimble to mitigate market uncertainties and strengthen our competitiveness, while improving the quality of earnings and driving sustainable value. To this end, we are focusing on five strategic priorities to support these key objectives:

1. Elevating our brand positioning to attract new and younger customers;
2. Optimising our product portfolio while reducing inventory levels and turnover days;
3. Enhancing operational efficiency to optimise competitiveness and effectiveness;
4. Nurturing a people-first workplace culture and strengthening talent development;
5. Building a data-driven culture, accelerating the use of digital technology and data analysis to support the business.

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Chow Tai Fook Jewellery Group Limited

Chow Tai Fook Jewellery Group Limited (the "Group"; SEHK stock code: 1929) was listed on the Main Board of The Stock Exchange of Hong Kong in December 2011. The Group's vision is to become the most trusted jewellery group in the world.

Founded in 1929, the Group's iconic brand "CHOW TAI FOOK" is widely recognised for its trustworthiness and authenticity, and is renowned for its product design, quality and value. A long-standing commitment to innovation and craftsmanship has contributed to the Group's success, along with that of its iconic retail brand, and has been embodied in its rich heritage. Underpinning this success are our long-held core values of "Sincerity • Eternity".

The Group's differentiation strategy continues to make inroads into diverse customer segments by catering to a bespoke experience for different lifestyles and personalities, as well as customers' different life stages. Offering a wide variety of products, services and channels, the Group's brand portfolio comprises the CHOW TAI FOOK flagship brand with curated retail experiences, and other individual brands including HEARTS ON FIRE, ENZO, SOINLOVE and MONOLOGUE.