Chow Tai Fook Jewellery Group (1929) Q1 2027 earnings summary

Executive summary

• Retail Sales Value (RSV) grew 15.1% year-over-year for the quarter ended 30 June 2026, reflecting strong consumer demand and successful brand transformation initiatives.

• Same Store Sales (SSS) in Chinese Mainland self-operated stores rose 19.6%, and franchised stores increased 15.7%; Hong Kong & Macao SSSG surged 41.7%.

• Launch of the DAWN Collection and Chinese Couture High Jewellery collection contributed to robust sales and enhanced brand positioning.

Financial highlights

• RSV in Hong Kong & Macao and other markets jumped 44.8% year-over-year; Chinese Mainland RSV increased 10.7%.

• Weight-based gold jewellery RSV in Chinese Mainland grew 21.0%, with its contribution rising to 67.2% of RSV.

• E-commerce RSV in the Mainland grew 28.9% year-over-year, contributing 8.9% to RSV and 19.4% to volume.

Outlook and guidance

• Continued focus on brand transformation and high-quality earnings, with new collections and luxury-format stores supporting growth.

• Ongoing network optimization to enhance productivity and market leadership.