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Consumer Durables

Chow Tai Fook Jewellery Group Ltd.

Company Background

Chow Tai Fook Jewellery Group is one of the world's largest jewelry companies, with total assets of around $8 billion. The company operates more than 2,200 stores across 500 cities worldwide including Hong Kong, mainland China, the U.S., Singapore, Malaysia and South Korea. It is also strengthening its e-commerce business. The jeweler was founded in 1929 and listed on the Hong Kong Exchange in 2011. It has a workforce of more than 34,000.

The company's core business is manufacturing and sales of gem-set, gold, platinum and karat gold products. It manages a vertically integrated business model which engages in everything from raw materials procurement, design and production to marketing and sales through its retail networks. Chow Tai Fook operates four diamond cutting and polishing factories and 10 jewelry factories. In 2014, it acquired U.S.-based luxury-brand diamond company Hearts On Fire to expand its business platforms.

Hong Kong conglomerate Chow Tai Fook (Holdings), led by billionaire Henry Cheng Kar-shun, has a majority stake in Chow Tai Fook Jewellery Group. Cheng also leads Hong Kong-listed New World Development, a diversified company focused on property development, hotels, department stores, infrastructure and service.

Business Summary

Chow Tai Fook Jewellery Group Ltd. operates as an investment holding company, which engages in the sale of jewellery through its subsidiaries. It operates through the following segments: Jewellery Business in the Mainland China; Watch Business in the Mainland China; and Business in Hong Kong, Macau, and Other Markets. The company was founded in 1929 and is headquartered in Hong Kong.

Financial Highlights

Mar 2021 HKDUSD
Revenue70,163.80M9,050.22M
Gross Profit20,264.60M2,613.87M
Operating income8,354.70M1,077.64M
Income before tax8,390.00M1,082.20M
Net income6,026.40M777.32M
EBITDA10,461.90M1,349.44M
Diluted EPS0.600.07
Dividends Per Share0.400.05
Total Assets64,308.20M8,271.73M
Total liabilities32,740.60M4,211.30M
Total equity30,767.10M3,957.46M
Operating cash flow10,227.20M1,319.17M
Currency in HKDCurrency in USD

Historical Data

 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 51,245.50M 59,156.40M 66,660.90M 56,750.80M 70,163.80M
Gross Profit 14,855.50M 16,248.70M 18,719.00M 16,034.80M 20,264.60M
Operating income 4,562.60M 5,347.60M 6,694.50M 5,779.20M 8,354.70M
Income before tax 4,388.00M 5,831.90M 6,352.00M 4,201.00M 8,390.00M
Net income 3,055.30M 4,094.90M 4,576.80M 2,901.00M 6,026.40M
EBITDA 5,402.60M 6,204.10M 7,632.30M 8,137.80M 10,461.90M
Diluted EPS 0.30 0.40 0.45 0.29 0.60
Dividends Per Share 0.51 0.57 0.65 0.24 0.40
Total Assets 49,401.90M 57,569.90M 62,237.10M 65,243.40M 64,308.20M
Total liabilities 16,900.40M 23,472.30M 30,762.80M 38,189.80M 32,740.60M
Total equity 31,798.80M 33,423.40M 30,750.70M 26,343.30M 30,767.10M
Operating cash flow 6,123.20M 2,673.70M 8,168.40M 7,895.70M 10,227.20M
 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 6,604.67M 7,575.10M 8,500.39M 7,260.26M 9,050.22M
Gross Profit 1,914.62M 2,080.68M 2,386.99M 2,051.36M 2,613.87M
Operating income 588.04M 684.77M 853.66M 739.34M 1,077.64M
Income before tax 565.53M 746.78M 809.98M 537.44M 1,082.20M
Net income 393.77M 524.36M 583.61M 371.13M 777.32M
EBITDA 696.30M 794.44M 973.24M 1,041.08M 1,349.44M
Diluted EPS 0.03 0.05 0.05 0.03 0.07
Dividends Per Share 0.06 0.07 0.08 0.03 0.05
Total Assets 6,356.80M 7,335.36M 7,928.34M 8,417.52M 8,271.73M
Total liabilities 2,174.66M 2,990.76M 3,918.85M 4,927.14M 4,211.30M
Total equity 4,091.71M 4,258.69M 3,917.31M 3,398.74M 3,957.46M
Operating cash flow 789.17M 342.37M 1,041.61M 1,010.11M 1,319.17M

Valuation Measures

Mar 2021
PER19.71
ROA9.30%
ROE21.10%
Operating margin11.90%
Profit margin8.58%

Key executives

  • Executive Director, MD-Corporate, HK & Macau: Siu Kee Wong
  • Secretary, Executive Director & Finance Director: Ping-Hei Cheng
  • Head-Information & Communication Centre: Siu-Kwong Tsang
  • Executive Director & MD-Mainland China: Sai Cheong Chan
  • General Manager-Business Strategy & Analytics: Tin-Hei Lee

Shareholders

  • Cheng Yu Tung Family Ltd. (72.3%)
  • CHEN YU WAI (5.0%)
  • Yueford Corp. (5.0%)
  • The Vanguard Group, Inc. (0.4%)
  • BlackRock Fund Advisors (0.3%)
  • PineBridge Investments Asia Ltd. (0.2%)
  • Norges Bank Investment Management (0.2%)
  • Hermes Investment Management Ltd. (0.1%)
  • Robeco Institutional Asset Management BV (0.1%)
  • Banque Lombard Odier & Cie SA (Investment Management) (0.1%)

Contact Details

  • Website:http://www.chowtaifook.com
  • Address: 38/F, New World Tower, 16-18 Queen's Road Central, Hong Kong, Hong Kong
  • Phone: +852.2526.8649

Related Companies

  • Chow Tai Fook Jewellery (Shenyang) Co., Ltd.
  • Beijing Chow Tai Fook Jewellery Co., Ltd.
  • Vms Investment Fund
  • Health4U Solutions Sdn. Bhd.
  • Regent Sunny Ltd.
  • Sincere Elite Ltd.
  • Chow Tai Fook Jewellery Co. Ltd.
  • ENZO Jewelry, Inc.
  • Fu An Jewellery Sdn. Bhd.

Competitors

  • Chow Tai Seng Jewelry Co. Ltd. Class A
Last Updated on 15 Oct, 2021

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