Latest news with #ChowTaiFookJewelleryGroup
New Straits Times
4 days ago
- Business
- New Straits Times
Chow Tai Fook Jewellery plans to raise US$1.1bil via convertible bonds
KUALA LUMPUR: Hong Kong-listed Chow Tai Fook Jewellery Group said on Tuesday it plans to raise HK$8.80 billion (US$1.12 billion) via a convertible bond sale. The bonds will have an initial conversion price of HK$17.32 per share, representing a premium of about 26.2 per cent above the jeweller's stock's last closing price on Monday. The company intends to use net proceeds of about HK$8.72 billion from the bond issuance for the development of its gold jewellery business, stores upgrades and expansion in domestic and international markets. The bonds, with an interest rate of 0.375 per cent per annum and maturing in 2030, will be listed on the Hong Kong Stock Exchange, the company said in a statement.
Business Times
4 days ago
- Business
- Business Times
Chow Tai Fook Jewellery upsizes convertible to HK$8.8 billion
[HONG KONG] Henry Cheng's Chow Tai Fook Jewellery Group has increased the size of its convertible bond sale to HK$8.8 billion (S$1.4 billion), according to sources familiar with the matter, making it potentially one of Hong Kong's biggest this year. The bonds due in 2030 are poised to be priced with a 0.375 per cent coupon and a 35 per cent conversion premium, the sources said, asking not to be identified as the information is not public. The deal was originally marketed to raise HK$7.85 billion, according to terms seen earlier by Bloomberg News. The offering drew orders for multiple times the number of bonds available, one of the sources said. Representatives for Chow Tai Fook did not immediately respond to requests for comment made outside normal business hours. Chow Tai Fook, which recently reported better-than-expected earnings, has been campaigning to lift its image, positioning itself closer to premium labels such as Tiffany and Cartier instead of a traditional gold retailer. The offering comes as New World Development, which is controlled by the same family controls Chow Tai Fook, grapples with more than HK$200 billion of liabilities as Hong Kong's most indebted major developer. UBS Group, the sole book-runner of the deal, is proposing to conduct a share placement aimed at facilitating hedging for investors buying the bonds, according to the terms. As part of that placement, Chow Tai Fook will buy back as much as HK$1.57 billion of shares. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The convertible bonds were originally marketed with a coupon of 0 to 0.5 per cent payable semiannually, and a conversion premium of 35 to 45 per cent over the clearing price of the placement, which is known as a delta placement, the terms showed earlier. Proceeds will be used for the jewellery business and general working capital. Chow Tai Fook shares rose 6 per cent to HK$13.72 in Hong Kong on Monday (Jun 16) before news of the sale emerged. The stock has doubled this year after falling 42 per cent last year. Meanwhile, Asia has seen a string of issuance of bonds convertible into stock this year. Singapore's Grab Holdings last week raised US$1.5 billion in a convertible-bond deal that brought in more cash than initially expected. Ping An Insurance (Group) of China earlier this month sold HK$11.8 billion in such bonds. Like Chow Tai Fook, Ping An Insurance also denominated its convertibles in Hong Kong dollars. The currency has slumped in recent weeks towards the weak end of its official trading band against the greenback, after local interest rates fell to a three-year low and widened the discount to their US peers to rarely seen levels. BLOOMBERG
Business Times
4 days ago
- Business
- Business Times
Chow Tai Fook Jewellery offers US$1 billion convertible bond
[HONG KONG] Henry Cheng's Chow Tai Fook Jewellery Group is seeking HK$7.85 billion (S$1.3 billion) through the sale of one of Hong Kong's biggest convertible bonds this year. The convertible bonds, denominated in Hong Kong dollars, will be due around the end of June 2030, and will carry a coupon of zero to 0.5 per cent payable semiannually, according to terms of the deal seen by Bloomberg News. Proceeds will be used for the jewelry business and general working capital, according to the terms. Chow Tai Fook, which recently reported better than expected earnings, has been campaigning to lift its image, positioning itself closer to premium labels such as Tiffany and Cartier instead of a traditional gold retailer. The offering comes as New World Development, which is controlled by the same family controls Chow Tai Fook, grapples with more than HK$200 billion of liabilities as Hong Kong's most indebted major developer. UBS Group, the sole bookrunner of the deal, is proposing to conduct a share placement aimed at facilitating hedging for investors buying the bonds, according to the terms. As part of that placement, Chow Tai Fook will buy back as much as HK$1.57 billion of shares. The bonds carry a conversion premium of 35 to 45 per cent over the clearing price of that placement, which is known as a Delta placement. The bonds are convertible at any time from Jun 30, 2028, according to the terms. There is a lockup of 90 days on the company. Chow Tai Fook shares rose 6 per cent to HK$13.72 in Hong Kong on Monday (Jun 16) before news of the sale emerged. The stock has doubled this year after falling 42 per cent last year. Meanwhile, Asia has seen a string of issuance of bonds convertible into stock this year. Singapore's Grab Holdings last week raised US$1.5 billion in a convertible-bond deal that brought in more cash than initially expected. Ping An Insurance (Group) of China earlier this month sold HK$11.8 billion in such bonds. Like Chow Tai Fook, Ping An Insurance also denominated its convertibles in Hong Kong dollars. The currency has slumped in recent weeks towards the weak end of its official trading band against the greenback, after local interest rates fell to a three-year low and widened the discount to their US peers to rarely seen levels. BLOOMBERG
Associated Press
12-06-2025
- Business
- Associated Press
Chow Tai Fook Jewellery Posts Strong Margin Expansion and Operating Profit for FY2025 from Brand Transformation Success
Results Highlights HONG KONG, HK / ACCESS Newswire / June 12, 2025 / Chow Tai Fook Jewellery Group Limited ('Chow Tai Fook Jewellery Group', the 'Group' or the 'Company"; SEHK stock code:1929), today announces its annual results for the year ended 31 March 2025 ('FY2025"). Strong Operating Profit and Margin Expansion Underscores Financial Resilience The Group demonstrated financial resilience and strategically navigated the evolving market landscape by embarking on its brand transformation in FY2025. While macro-economic externalities and elevated gold prices weighed on the consumer sentiment and consequently jewellery spending during the financial year and led to a 17.5% decline in the Group's revenue, it was able to chart steady progress towards enhancing brand desirability and earnings quality. The Group's gross profit margin expanded by 550 basis points to 29.5%, mainly attributable to the improved like-for-like margin at retail level resulting from the gold price surge, as well as an improvement in the product mix particularly with the higher contribution of our fixed-price gold products. The operating profit margin also expanded by 400 basis points to 16.4%, while operating profit delivered a year-on-year growth of 9.8%, reaching HK$14,746 million. Profit attributable to shareholders decreased 9.0% in FY2025 to HK$5,916 million, as the increase in operating profit was offset by the loss arising from the revaluation of gold loan contracts amid volatility in gold prices during the financial year. Earnings per share was HK$0.59. The Board has proposed a final dividend of HK$0.32 per share, bringing the dividend per share for the year to HK$0.52. The full year payout ratio in FY2025 was approximately 87.8%. Dr. Henry Cheng, Chow Tai Fook Jewellery Group Chairman, said, 'At Chow Tai Fook Jewellery, we are making great strides in our brand transformation journey. We remain determined to satisfy evolving customer demand while seizing the emerging opportunities across China and other markets. As the leading Chinese jeweller, we maintain our strong commitment to carrying forth our legacy of bold innovation, masterful craftsmanship, and proud cultural heritage.' New Image Stores Enhances Brand Desirability and Store Productivity As an integral part of its brand transformation, the Group is reshaping the jewellery shopping experience with the launch of five new image stores in Hong Kong, Shanghai, Shenzhen, Wuhan and Xi'an. The new premium store format elevated Chow Tai Fook Jewellery's brand desirability and provided an improved product mix, resulting in higher store productivity compared to the average store in the first few months since opening. As we continue to progress our five strategic priorities and take a proactive approach to evolving market trends, same store performance in Mainland China improved quarter by quarter in FY2025, while Hong Kong and Macau saw a stabilisation in performance towards the end of the financial year. SSS in the Mainland declined by 19.4% in FY2025. Separately, sales of franchised POS calculated on a same-store basis dropped 13.9% during the financial year, signifying a stronger performance than self-operated stores due to a higher proportion of newer stores. In Hong Kong and Macau, SSS was down by 26.1% in the financial year. SSS in Hong Kong dropped 23.1% while in Macau it fell 35.3%, as Macau's business had higher reliance on the spending of Mainland tourists. Product Optimisation to Resonate with Target Customers The Group continued its product optimisation efforts and offered products with different value propositions to meet customer preferences and create emotional resonance. Notably, revenue from fixed-price gold products surged by 105.5% year-on-year and itsRSV mix within the Mainland gold jewellery and product category expanded significantly to 19.2% from 7.1% the same period last year. The Group's new iconic fixed price collections, CTF Rouge Collection and Chow Tai Fook Palace Museum Collection, have sustained strong momentum since launch and each achieved sales of approximately HK$4 billion in this financial year, exceeding the annual targets. During the financial year, the Group further tapped into the 'Intellectual Properties ('IPs') Derivative Economy', driven by Gen Z consumers, by strengthening its portfolio of high-profile collaborations with brands such as Black Myth: Wukong and Chiikawa, in response to the younger generation's pursuit of emotional value. Demonstrating its commitment to diversification and capturing emerging consumer trends, the Group also unveiled the exclusive CTF Pet Jewellery in March 2025, the first of its kind from a Chinese jeweller. The meaningful and innovative products tap into the booming pet economy, which has experienced significant growth in recent years. Leveraging Online Channels to Deepen Customer Engagement During the financial year, the Group significantly enhanced customer engagement and achieved fruitful results in e-commerce development in both Mainland China and Hong Kong. In the Mainland, by leveraging the resources of its newly established in-house livestreaming studio and Key Opinion Sales ('KOS'), the Group expanded its reach and created viral bestsellers across multiple social media platforms, further amplifying brand visibility and consumer connection online. E-commerce contributed 5.8% in RSV and 13.8% in volume to its Mainland performance during FY2025. Furthermore, during Double 11 in 2024, the Group secured the No.1 position in livestreaming jewellery sales on the Tmall platform, helping to amplify the Group's reach, particularly to young customers. In Hong Kong and Macau, the e-commerce channel complemented and further enhanced the omni-channel shopping experience. E-commerce sales grew by approximately 91% in this market segment in FY2025, driven by the customers' positive reception to the revamped brand website and successful launch of key IP collections. Optimising Point of Sales ('POS') Network to Maximise Store Productivity POS optimisation is crucial to the Group's strategy for sustaining market leadership, while enhancing the overall financial health and resilience of its retail network by maximising store productivity. In FY2025, the Group's POS optimisation strategy proved effective, resulting in improved store productivity. In Mainland China, the Group remained agile and strategic in optimising its retail network by adopting a highly selective approach to opening stores in prime locations. The new stores opened during the year delivered more than double the average productivity of those closed. In addition, the progressive and healthy ramp-up of newer stores during the financial year strengthened the resilience and stability of the Group's store network. As of 31 March 2025, the Group maintained its leading position with a network of 6,274 CHOW TAI FOOK JEWELLERY POS in Mainland China, . The retail network in Hong Kong and Macau was maintained at 87 CHOW TAI FOOK JEWELLERY POS, positioning the Group favourably to drive quality earnings growth. In other markets, we optimised the store locations during the year. We opened a net of 3 CHOW TAI FOOK JEWELLERY POS (excluding China duty free) in Thailand, Malaysia and Japan. Business Outlook Chow Tai Fook Jewellery Group is encouraged by the continued progress in its brand transformation strategy and the positive impact on the Group's financial and operational performance in FY2025 and in FY2026 to date. Building on this momentum, the Group's strategic initiatives, together with the relatively lower comparables, shall further support its business fundamentals and recovery trajectory, making FY2026 a year set for quality growth Amidst the external volatility and uncertainty, the Group is closely examining government policies and initiatives to boost consumption, tracking gold price movements and assessing the operating landscape in countries earmarked for international expansion to inform its business decisions. Looking ahead, the Group will continue to rigorously uphold its financial discipline in cost and capital management to achieve high earnings quality. The Group's unwavering commitment to brand transformation will sharpen its competitiveness, bolster long-term growth prospects, and increase total shareholder returns sustainably. ### 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 firmly upholds the vision: 'To be the leading global jewellery brand that is a trusted lifetime partner for every generation', drawing on nearly a century of legacy and success. Founded in 1929, the Group's iconic brand 'CHOW TAI FOOK' has become an emblem of tradition, celebrated for its bold designs and an unwavering attention to detail. Building upon a rich heritage and a foundation of trust, the Group is not only widely recognised for honouring traditions but also for fostering deep, meaningful connections with a diverse customer base through its exquisite jewellery. The Group's long-standing commitment to innovation and craftsmanship has been integral to its success over time and has become synonymous with excellence, value and authenticity. As a leading Chinese jeweller, the Group believes in blending contemporary cutting-edge designs with traditional techniques to create jewellery that can be passed down from generation to generation. Every collection is thoughtfully conceived and crafted to reflect the stories of our customers, celebrating the special moments in their lives. Committed to growing alongside our customers, the Group embraces a spirit that aspires to inspire and captivate generations to come, weaving the story of CHOW TAI FOOK into the fabric of their lives. 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 and MONOLOGUE. The Group is committed to delivering sustainable long-term value creation for its stakeholders by enhancing the quality of earnings and driving higher value growth. We operate an extensive omni-channel retail ecosystem, with a retail network across China and multiple locations globally, complemented by a growing e-commerce business that further enhances our competitive edge. Media Enquiries: Chow Tai Fook Jewellery Group Limited Haide Ng Associate Director, Investor Relations and Corporate Communications Tel: (852) 3115 4402 Email: [email protected] Acky Chan Senior Manager, Investor Relations and Corporate Communications Tel: (852) 3115 4403 Email: [email protected] 12/06/2025 Dissemination of a Financial Press Release, transmitted by EQS News. The issuer is solely responsible for the content of this announcement. Media archive at SOURCE: Chow Tai Fook Jewellery Group Limited press release
Yahoo
10-06-2025
- Business
- Yahoo
Chow Tai Fook Jewellery Group Named Official Sponsor of The 15th National Games of the People's Republic of China
HONG KONG, HK / / June 10, 2025 / Chow Tai Fook Jewellery Group Limited ("Chow Tai Fook Jewellery Group", "Chow Tai Fook Jewellery", the "Group" or the "Company"; SEHK stock code: 1929), the leading Chinese jeweller, announced today that it serves as the exclusive sponsor from the jewellery industry for the 15th National Games of the People Republic of China (the "National Games") and the 12th National Games for Persons with Disabilities & the 9th National Special Olympic Games, the People's Republic of China. As part of this sponsorship, the Group also leads the design and crafting of the official medals for China's premier multi-sport events. Ms Sonia Cheng, Vice-chairman, and Mr. Kent Wong, Managing Director of Chow Tai Fook Jewellery Group attended the 15th National Games Medal Unveiling Ceremony held today in Guangzhou, where the official medals for competition and mass participation events were revealed. The 15th National Games will take place in Guangdong, Hong Kong, and Macau from 9 to 21 November 2025. The National Games, held every four years, is China's most prestigious sporting event, showcasing a vast array of the nation's finest athletic talents. This year is particularly noteworthy and relevant, with the games to be held for the first time across three cities in the Greater Bay Area - the region in which Chow Tai Fook Jewellery's legacy began. The Group's sponsorship demonstrates its unwavering commitment to supporting Chinese athletics, a relationship that has flourished over the years. As the leading Chinese jeweller renowned for its creative mastery, Chow Tai Fook Jewellery is deeply rooted with a strong presence in China, creating an increasing impact globally and resonating with audiences beyond its home markets. Exclusive Sponsor from Jewellery Industry Chow Tai Fook Jewellery's collaboration with the 15th National Games represents a significant milestone in the brand's ongoing transformation journey. As the exclusive sponsor from the jewellery industry, the Group's appointment as the official designer and creator of the 15th National Games medals is a testament to its leadership in design and aesthetics excellence. The Group is honoured to team up with Guangzhou Academy of Fine Arts on the design of the medals, which prove to be a dynamic exchange of design expertise and creative synergy. Each medal, designed with the highest degree of precision, celebrates the dedication and excellence of China's finest athletes, while bridging the realm of sports and cultural heritage. The Chow Tai Fook Jewellery design team, in line with its storied reputation, has exhibited exceptional meticulousness, refining the medal designs through countless iterations in pursuit of perfection. Taking inspiration from the 15th National Games' official emblem, the medals of the competition and mass participation events feature a three-layered hierarchical 3D structure, expressed through regional floral emblems from the three host cities, symbolising unity and boundless vitality. Three sets of concentric Möbius rings on the outer edge represent connection and endless possibilities, and the edge of the medal is adorned with 66 ridges, paying tribute to the 66-year history of the National Games. In addition, the wave-like patterns on both medals delineate the convergence of the rivers across Guangdong, Hong Kong and Macau. The ring of each medal features a "Tongxin Knot" inspired by the Hong Kong-Zhuhai-Macao Bridge, in which a steel rainbow is transformed into a cultural totem and emerges as a symbol of the creativity and cultural harmony of the Greater Bay Area. The medal design of the competition events captures the collective spirit of connection and growth within the Greater Bay Area. The Games' official emblem complemented by the patterns of the peony, known as the King of Flowers which also symbolises the flourishing Greater Bay Area buoyed by China. These design elements seamlessly blend the region's rich heritage with its modern identity at the same time as celebrating athletic prowess and reinforcing the Group's commitment to showcasing the beauty and richness of Chinese culture to the world. Championing Sports Development Chow Tai Fook Jewellery's commitment to Chinese athletics extends beyond mere partnership. For decades, the Group has championed and supported national sports, intertwining cultural heritage with forward-thinking development. The Group took a major step forward in 2022 by establishing the Cheng Kar-Shun Champion Development Foundation, which provided RMB 120 million to the Beijing Sport University Education Foundation. This initiative aims to support more young people in pursuing their dreams and contribute to the national athletic development. This substantial investment is able to support elite athlete development, youth training programmes, and career opportunities for national athletes. Through enhanced training initiatives, expanded youth programmes, and stronger synergies between athletics and education, Chow Tai Fook Jewellery Group is honoured to have a role in strengthening China's position in international sports hand-in-hand with nurturing the nation's next generation of athletes. Mr. Conroy Cheng and Ms. Sonia Cheng, Vice-chairmen of Chow Tai Fook Jewellery Group , stated jointly, "For nearly a century, we have perfected the art of exquisite design, and now we are bringing that mastery to China's most prestigious sporting event. When a winner holds one of our medals, they are celebrating success from their hard work and effort as well as our 96 years of dedication in preserving Chinese cultural heritage. We have taken the expertise and creativity that we have garnered over time to reimagine something meaningful and worthy of today's champions. Each piece tells two stories - one of outstanding athletic achievement, and another of our nation's artistic soul. These medals are not just awards; they are timeless symbols of Chow Tai Fook Jewellery's journey from a humble beginning in Guangzhou to a global Chinese jewellery house." Mr. Kent Wong, Managing Director of Chow Tai Fook Jewellery Group, added , "This collaboration advances our long-term commitment to supporting national initiatives in athletic talent development and sportsmanship. We are proud to contribute to China's vision of becoming a leading sporting nation whilst upholding our own dedication to innovative design. Chow Tai Fook Jewellery continues to make the enlightening connection of heritage with contemporary design, inspiring future generations to reach new heights." ### Photo Captions Officiating guests attended the medal unveiling ceremony of the 15th National Games of the People's Republic of China. From left to right: Official Medals of Competition Events Official Medals of Mass Participation Events 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 firmly upholds the vision: "To be the leading global jewellery brand that is a trusted lifetime partner for every generation", drawing on nearly a century of legacy and success. Founded in 1929, the Group's iconic brand "CHOW TAI FOOK" has become an emblem of tradition, celebrated for its bold designs and an unwavering attention to detail. Building upon a rich heritage and a foundation of trust, the Group is not only widely recognised for honouring traditions but also for fostering deep, meaningful connections with a diverse customer base through its exquisite jewellery. The Group's long-standing commitment to innovation and craftsmanship has been integral to its success over time and has become synonymous with excellence, value and authenticity. As a leading Chinese jeweller, the Group believes in blending contemporary cutting-edge designs with traditional techniques to create jewellery that can be passed down from generation to generation. Every collection is thoughtfully conceived and crafted to reflect the stories of our customers, celebrating the special moments in their lives. Committed to growing alongside our customers, the Group embraces a spirit that aspires to inspire and captivate generations to come, weaving the story of CHOW TAI FOOK into the fabric of their lives. 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 and MONOLOGUE. The Group is committed to delivering sustainable long-term value creation for its stakeholders by enhancing the quality of earnings and driving higher value growth. With an extensive retail network across China and multiple locations globally, along with a growing e-commerce business, the Group is implementing targeted online-to- offline ("O2O") strategies to strengthen its competitiveness in today's omni-channel retail environment. Media Enquiries:Chow Tai Fook Jewellery Group Limited Haide NgAssociate Director, Corporate CommunicationsTel: (852) 3115 4402Email: haideng@ Acky ChanSenior Manager, Corporate Communications Tel: (852) 3115 4403Email: ackychan@ SOURCE: Chow Tai Fook Jewellery Group Limited View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
