Chow Tai Fook Jewellery Delivers Growth in Same Store Sales and Retail Sales Value in First Quarter FY2024

Results Highlights

• Sustained recovery in general mobility and retail activity in Mainland China (the "Mainland") and Hong Kong & Macau of China, positively impacted Chow Tai Fook Jewellery Group's Same Store Sales Growth ("SSSG") trend during the Quarter.
• Following the shift in pandemic-control measures, the Group's Retail Sales Value ("RSV") achieved a growth of 29.4% during the Quarter. Mainland RSV increased 25.2%, while that of Hong Kong, Macau and other markets rose 64.0%, reaching approximately 76% of the corresponding FY2019 levels.
• The Group made progress in executing the five strategic priorities to enhance earnings quality and yielded resilient Average Selling Price ("ASP") in both the Mainland and Hong Kong and Macau markets.
• Demand for gold jewellery and products remained resilient with evolving market dynamics. In addition to the successful HUÁ Collection, the Group offers the ING Collection and Liu Jin Sui Yue ("流金歳月") Collection to cater for different consumer segments and capture emerging growth opportunities.
• The Group centralised its marketing effort to improve consistency, maximise the impact and synergy across all channels, aimed at offering customers an enhanced omni-channel experience especially during special occasions and festivals.

HONG KONG, CHINA / ACCESSWIRE / July 10, 2023 / KEY OPERATIONAL DATA

For the three months ended 30 June 2023

(% change compared to the same period last year)
Group
Retail Sales Value(1) ("RSV") growth	+29.4%
	Mainland China	Hong Kong& MacauofChinaand othermarkets
RSV growth	+25.2%	+64.0%
Contribution to Group RSV	86.4%	13.6%
	Mainland