Editor’s Note
Chow Tai Fook’s FY2025 results reflect a challenging retail environment, with revenue declining 17.5% to HKD 89.66 billion amid macroeconomic pressures and high gold prices. However, operating profit showed resilience, increasing year-on-year.
After the market closed on June 12, Chow Tai Fook released its full-year performance announcement for the fiscal year ended March 31, 2025.
In the 2025 fiscal year, macroeconomic headwinds and high gold prices affected consumer sentiment, directly impacting Chow Tai Fook’s performance.
During the reporting period, Chow Tai Fook’s revenue amounted to HKD 89.656 billion, a year-on-year decrease of 17.5%.
Operating profit remained resilient at HKD 14.746 billion, a year-on-year increase of 9.8%; the operating profit margin expanded to 16.4%, reflecting the effectiveness of Chow Tai Fook’s optimized product portfolio and stringent cost and capital management.
Due to gold price fluctuations, revaluation losses were incurred on gold borrowing contracts, offsetting the growth in operating profit. The company’s shareholders’ share of profit was HKD 5.916 billion, a year-on-year decrease of 8.97%.
The financial report shows that as of the end of March 2025, Chow Tai Fook had 6,274 jewelry retail points in Mainland China, a net reduction of 896 during the reporting period; the number of jewelry retail points in Hong Kong and Macau remained at 87; jewelry retail points in other markets totaled 62, a net increase of 4.
In terms of sales data, Chow Tai Fook’s same-store sales in Mainland China decreased by 19.4% year-on-year; same-store sales in Hong Kong and Macau decreased by 26.1% year-on-year.
Recently, Chow Tai Fook announced that the company’s Executive Director, Chan Sai Cheong, has resigned, with the reason being “to devote more time to pursuing personal development.”