Revenue distribution by sectors:

• Jewelry: approx. 80%
• Watches: approx. 15%
• Other: approx. 5%

TOP 3 markets and their percentage shares:

• China: approx. 70%
• Hong Kong and Macau: approx. 20%
• Rest of the world: approx. 10%

Chow Tai Fook Jewellery Group Limited generates the majority of its revenue from the jewelry sector, which is not surprising given that the company is known as one of the largest jewelry retailers in Asia. The Chinese market is the most important for the company as it accounts for the largest share of total revenue. Hong Kong and Macau follow as significant markets benefiting from their proximity to China and tourism. The rest of the world also contributes to the revenue, albeit to a lesser extent.

Production Sites:

• China
• Hong Kong
• Macau

Chow Tai Fook Jewellery Group Limited produces the majority of its jewelry in China, Hong Kong, and Macau. These locations are strategically chosen to ensure proximity to the main markets in Asia and to optimize production costs. China is the main production site, due to the cost-effective manufacturing and the availability of skilled labor.

Revenue Growth: 8.5% (2024) Market Expansion: 150 new stores in mainland China by 2025

Chow Tai Fook Jewellery Group Limited is pursuing a growth strategy that is heavily focused on expansion in mainland China. The company plans to open approximately 150 new stores in this region by 2025 to capitalize on the increasing demand for luxury goods.

In addition, Chow Tai Fook is investing in digitization and e-commerce platforms to boost online sales and attract a younger, digitally savvy customer base. This strategy is supported by an increased presence on social media and partnerships with online marketplaces.

Another focus is on diversifying the product offering to tap into new customer segments and increase brand awareness. This includes introducing new jewelry collections as well as expanding the range of watches and other luxury goods.

Main raw materials: Gold, diamonds, gemstones

Countries of origin:

• Gold: South Africa, Russia, Australia
• Diamonds: Russia, Botswana, Canada
• Gemstones: Myanmar, Sri Lanka, Colombia

Chow Tai Fook Jewellery Group Limited imports a variety of raw materials necessary for the production of their high-quality jewelry pieces. Gold, as one of the main raw materials, is mainly sourced from countries such as South Africa, Russia, and Australia, which are among the world's largest gold producers.

Diamonds, another key material, come from leading diamond-producing countries such as Russia, Botswana, and Canada. These countries are known for their high-quality diamond deposits and well-developed mining industries.

In addition, the company sources gemstones from countries like Myanmar, Sri Lanka, and Colombia, known for their unique and high-quality gemstones. This strategic sourcing from different countries enables Chow Tai Fook to offer a wide range of jewelry pieces that cater to the diverse tastes and preferences of their customers.

Market share in China: Approximately 8% (2024)
Gross margin: 30.5% (2024)
Brand awareness: Very high in China and Hong Kong

Chow Tai Fook Jewellery Group Limited has a significant competitive advantage, especially in the Chinese and Asian markets. The market share of about 8% in China demonstrates the company's strong presence in one of the world's largest jewelry markets. The high brand awareness in China and Hong Kong further enhances this advantage by securing consumer trust in the brand.

The gross margin of 30.5% in 2024 indicates an efficient cost structure and the ability to command premium prices for their products. This is an indicator of strong brand positioning and customer loyalty.

Additionally, the company benefits from a broad distribution network and a strong digital presence, enabling it to succeed in both brick-and-mortar and online retail. This ensures a diversified revenue source and mitigates risks associated with market fluctuations.

Institutional Investor Share: Estimated at 20% (2025)

Insider Buys/Sells: No significant changes reported (2025)

The institutional investor share in Chow Tai Fook Jewellery Group Limited is estimated to be around 20%. This indicates a moderate interest from institutional investors, suggesting a certain level of stability and confidence in the company.

Regarding insider buys or sells, no significant changes or transactions have been reported. This could indicate that the management and insiders are satisfied with the current company strategy and see no need to change their positions.

Market share of Chow Tai Fook Jewellery Group Limited: 14% (estimated for 2025)

Top competitors and their market shares:

1. Chow Tai Fook Jewellery Group Limited: 14%
2. Luk Fook Holdings International Limited: 10%
3. Tiffany & Co.: 8%
4. Signet Jewelers Limited: 7%
5. Pandora A/S: 6%
6. Richemont (Cartier): 5%
7. Swarovski: 4%
8. Harry Winston: 3%
9. Bvlgari (LVMH): 3%
10. Blue Nile: 2%

Moat of Chow Tai Fook:

Chow Tai Fook possesses a significant moat, characterized mainly by its strong brand recognition and extensive presence in the Asian market. The company benefits from a wide distribution network with thousands of retail outlets, especially in China, giving it a geographical advantage.

Another advantage is the company's vertical integration, which allows for better control over the supply chain and cost efficiency. These factors contribute to Chow Tai Fook maintaining its market position.

Compared to its competitors, Chow Tai Fook has a stronger focus on the Asian market, which is advantageous in times of increasing prosperity in this region. However, companies like Tiffany & Co. and Cartier have a stronger global brand value and luxury appeal, which can give them an advantage in other markets.

In summary, Chow Tai Fook has a significant moat in the Asian region, while other companies may possess stronger global brands.

Revenue Growth: 8.5% (2024) Profit Growth: 7.2% (2024) Market Share in China: 20% (2024)

Chow Tai Fook Jewellery Group Limited recorded a revenue growth of 8.5% in 2024, driven by strong demand for jewelry in China and other Asian markets. The company has strengthened its market position through the opening of new stores and the introduction of innovative product lines.

With a market share of 20% in China, Chow Tai Fook remains a dominant player in the jewelry sector. Strategic expansion into online distribution channels and adaptation to changing consumer preferences are also contributing to positive business development.

Analysts see potential for further growth, especially through the exploration of new markets and continued investment in digital transformation. This could increase the attractiveness of the stock as a long-term investment, regardless of short-term market fluctuations.

Dividend Yield: 3.5% (2025, estimated)
Dividend History: Regular payouts over the last 5 years

Chow Tai Fook Jewellery Group Limited is known for regularly distributing dividends to its shareholders. The company's dividend policy demonstrates a reliable payout history, indicating a stable financial position and a sustainable business model.

The estimated dividend yield of 3.5% in 2025 suggests that the company continues to be able to offer its shareholders an attractive return. This reliability is supported by Chow Tai Fook's strong market position in the jewelry sector.