New Share News: Chow Tai Fook submitted a secondary listing application to the Hong Kong Stock Exchange, with steady growth in revenue and net profit.

According to the disclosure from the Hong Kong Stock Exchange on February 28th, Chow Tai Fook Jewellery Group Limited (Chow Tai Fook) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with China International Capital Corporation Limited and China Securities Co., Ltd. as its joint sponsors. This is Chow Tai Fook's second attempt to list on the Hong Kong stock market after its application lapsed on June 27, 2024. The prospectus shows that Chow Tai Fook is a Chinese jewelry company that offers a variety of jewelry products through offline stores and online sales channels. The company integrates jewelry design and development, production, chain sales, and brand operation, mainly operating the "Chow Tai Fook" jewelry brand. Its main products include diamond-set jewelry, k-gold jewelry, and other jewelry. According to Frost & Sullivan data, the company has been among the top five brands in the Chinese jewelry market in terms of store numbers for seven consecutive years from 2017 to 2023. By revenue from gold jewelry products as of the end of the year on December 31, 2023, it ranked tenth among all gold jewelry companies in China. Franchise model is Chow Tai Fook's main business model, with franchise stores accounting for over 95% of its overall store presence. Chow Tai Fook's self-operated stores are usually located in department stores or high-end shopping centers, playing a crucial role in establishing brand image, increasing brand awareness, and leveraging synergies within the sales network. As of the end of 2022, 2023, and 2024, Chow Tai Fook had 78, 95, and 91 self-operated stores in China respectively. Furthermore, the company is actively expanding its online sales channels. The compound annual growth rate of Chow Tai Fook's online sales revenue from 2022 to 2024 reached 46.1%, with online sales revenue accounting for 40.0% of total revenue in 2024. According to Frost & Sullivan data, in terms of the compound annual growth rate of online sales revenue from 2021 to 2023 and the proportion of online sales revenue to total revenue in 2023, Chow Tai Fook ranked first among national jewelry companies in China. In terms of market development, the total global gold production capacity is only over 210,000 tons, the total supply of gold. On the demand side, according to data from the World Gold Council, the total global gold demand in 2024 was 4,974 tons, reaching a historical high, with gold jewelry demand accounting for 1,877 tons, or 37.7% of total global gold demand. Based on Frost & Sullivan data, the size of the Chinese jewelry market increased from RMB 580 billion in 2018 to RMB 820 billion in 2023, with a compound annual growth rate of 7.2%. Specifically, the market size of China National Gold Group Gold Jewellery increased from RMB 308 billion in 2018 to RMB 518 billion in 2023, with a compound annual growth rate of 11.0%. Frost & Sullivan estimates that the gold jewelry market is expected to reach RMB 811 billion in 2028, with a compound annual growth rate of 9.4%. Financially, in 2022, 2023, and 2024, Chow Tai Fook's revenue was approximately RMB 3.102 billion, RMB 5.15 billion, and RMB 5.718 billion respectively; and its profits during the same periods were approximately RMB 575 million, RMB 660 million, and RMB 706 million respectively.