Editor’s Note
C&K Group, a Hong Kong-based pearl and jewelry trader, has filed for a U.S. IPO. The company plans to offer 3.75 million shares, aiming to raise capital for marketing, hiring, and strategic growth.
C&K Group, a Hong Kong-based pearl and jewelry trading company, filed an F-1 to go public in the U.S. The company plans to offer 3,750,000 Class A ordinary shares at an expected price range of $4.00 to $5.00 per share. Proceeds will support marketing, hiring, strategic investments or acquisitions, and general working capital.
C&K Group operates through its Hong Kong subsidiary, C&K Jewellery, purchasing, designing and selling loose pearls and finished jewelry. The company’s assortment includes South Sea, Tahitian, Akoya and freshwater pearls sourced from Australia, Indonesia, the Philippines, Tahiti, mainland China and Japan. Finished products span necklaces, bracelets, rings, pendants, earrings, brooches and clasps, with custom design services available.
C&K Group primarily serves B2B customers—wholesalers, manufacturers, independent designers and retailers—through wholesale channels, supported by access to seasonal auctions and long-standing supplier relationships. Competitive strengths include quality control, supplier access, and an online platform for ordering and after-sales services. The company plans to expand its product portfolio (e.g., lab-grown diamond collections) and grow into new Asian markets such as Thailand and Singapore.
Total addressable market: The global pearl jewelry market was about $13.2B in 2024 and is projected to reach $34.6B by 2033.
Market growth: Forecast compound annual growth rate (CAGR) of roughly 10.7% from 2025 to 2033.
Market position: Hong Kong is a leading trading and distribution center for pearls; the company sources from major auctions and farms.
Key competitors: Wholesalers, manufacturers, independent designers, and retailers across Hong Kong, the U.S., Japan, Australia, and Europe.
Industry trends: Sustainability and eco-friendly sourcing, customized designs, social media marketing, and technology-enabled grading/sorting.
Customers: Primarily B2B—wholesalers, jewelry manufacturers, independent designers and retailers
Locations: Headquarters and operations in Hong Kong; facility totaling ~4,742 sq ft
Geographic presence: FY2025 revenue mix—Hong Kong 56.4%, United States 34.0%, Japan 7.0%, China 0.4%, Thailand 1.5%
Distribution channels: Wholesale represented 97.7% of FY2025 revenue; retail 2.3%
Product mix: FY2025—finished jewelry 61.3% of revenue; loose pearls 38.7%
Supplier footprint: FY2025 purchases—Hong Kong 93.1%, PRC 4.4%, Japan 2.5%
Customer concentration: Top three customers accounted for ~79% of FY2025 revenue
Employees: 8 employees as of the filing
Sourcing access: Invitations to seasonal auctions at major Australian pearl farms
Revenue (current): HKD 70,814,654 (US$9,101,088) for FY2025
Revenue growth: Up 6% year over year (FY2025 vs. FY2024)
Gross profit: HKD 17,849,667 (US$2,294,037) (≈25.2% margin)
Operating income: HKD 6,608,040 (US$849,265)
Net income: HKD 6,296,961 (US$809,285)
Cheng Ka Ki, Chief Executive Officer, Chairman and Director – 7 years in the jewelry industry; leadership roles in Hong Kong pearl associations; oversees strategy and operations.
Leung Wing Hong, Chief Financial Officer – Former PwC Senior Associate; experience in corporate finance and reporting; HKICPA member and CFA charterholder.
Wong Man Yin Vanessa, General Manager of Sales – 12+ years in pearl and jewelry sales and marketing; leads sales strategy and execution.
Kong Ka Yin, Director – Over 10 years in pearls and jewelry; responsible for purchasing and pricing strategies.
Yuen Ka Lok, Ernest, Independent Director Nominee – Solicitor and partner at Yuen & Partners; 25+ years of litigation and commercial legal experience.
Chung Chi Kit, Independent Director Nominee – CEO of Eagle Nice (International) Holdings; background in business operations and strategy.
Chan Leo, Independent Director Nominee – Chief Accountant at China South City Holdings; 20+ years in accounting and financial management.
Issuer: C&K Group Limited
Filing date: February 12, 2026
Exchange: U.S. Exchange
Price range: $4.00–$5.00
Offering size: $16,875,000 (midpoint, before OA and expenses)
Shares offered: 3,750,000 Class A ordinary shares (plus 562,500 OA)
Lead underwriters: Blue Diamond Securities of America LLC; Revere Securities LLC
Use of proceeds: 10% brand promotion/marketing; 10% recruitment; 40% strategic investments and acquisitions; 40% general working capital