Chow Tai Fook Jewellery Group Announces 4QFY2024 Quarterly Results

Chow Tai Fook Jewellery Sustained 12.4% Growth in RSV in 4QFY2024, Leveraging Festive Demand and Continuing Transition to Higher Value Growth

Results Highlights

• The Group's Retail Sales Value ("RSV") increased 12.4% in 4QFY2024 which was mainly driven by the strong festive demand, resilient consumption for gold jewellery and a continuing transition to higher value growth.
• In Mainland China (the "Mainland"), the Annual Sale promotion alongside the successful launch of dragon-themed products, including a new design of HUÁ Collection, captured positive consumption momentum for the Lunar New Year celebration. During the Quarter, a stronger than expected festive demand from Chinese consumers' sustained passion for gold jewellery, drove 12.4% RSV growth in the Mainland.
• RSV of franchised CHOW TAI FOOK JEWELLERY stores in the Mainland also posted robust 18.3% growth during the Quarter, a testament to positive impact from ramp up in store productivity, quality store opening over the past 12 months and an optimised portfolio of strong-performing stores.
• In Hong Kong, Macau and other markets, with the continued recovery of inbound tourism, coupled with Lunar New Year holiday, RSV grew 12.8% during the Quarter, despite a very high base in the same period last year.
• With the Dragon's auspicious meaning in Chinese culture, zodiac-themed gold jewellery and ornaments gained overwhelming response. During the Quarter, Same Store Sales ("SSS") of gold jewellery and products category was up 3.4% and 16.6% in the Mainland, and Hong Kong and Macau respectively.

HONG KONG, CHINA / ACCESSWIRE / April 12, 2024 / KEY OPERATIONAL DATA

For the three months ended 31 March 2024

	(% change compared to the same period last year)
	Group
Retail Sales Value(1)growth	+12.4%
	Mainland China	Hong Kong& Macauof Chinaand othermarkets
RSV growth	+12.4%	+12.8%
Contribution to Group RSV	88.6%