Chow Tai Fook Jewellery Group Limited reported a year-on-year increase of 4.1% in Retail Sales Value (RSV) for the three months ended 30 September 2025. In Mainland China, RSV rose 3.0%, while Hong Kong & Macau of China and other markets recorded an 11.4% growth. Same Store Sales (SSS) climbed 7.6% in the Mainland and 6.2% in Hong Kong & Macau. Volume in both markets declined, posting a year-on-year decrease of 8.6% in the Mainland and 10.0% in Hong Kong & Macau. Gold jewellery and products registered growth, increasing 10.6% in the Mainland and 10.4% in Hong Kong & Macau, while gem-set, platinum, and k-gold jewellery also showed positive momentum with increases of 7.2% and 5.2%, respectively, in those two markets.

In Mainland China, SSS for self-operated stores advanced 7.6% during the quarter, and franchised stores rose 8.6%. Excluding watches, self-operated SSS grew 9.9%. Hong Kong & Macau reported an overall SSS increase of 6.2%. The Average Selling Price (ASP) of gold jewellery and products grew to HK$7,900 in the Mainland and HK$11,700 in Hong Kong & Macau. Meanwhile, gem-set jewellery reached an ASP of HK$11,000 in the Mainland and HK$15,000 in Hong Kong & Macau during the period.

Mainland China’s fixed-price gold products maintained strong momentum, registering a 43.7% year-on-year RSV increase. Gem-set, platinum, and k-gold jewellery rose by 10.0%, with Fei Cui sales more than doubling. E-commerce in the Mainland posted a 28.1% year-on-year jump, representing 6.7% of RSV and 15.5% of sales volume. Franchised Chow Tai Fook Jewellery stores contributed around 67.5% of Mainland RSV.

The overall network optimization continued, with a net reduction of 300 Chow Tai Fook Jewellery points of sale (POS) in the Mainland and a net increase of 2 in Hong Kong & Macau, bringing the total to 6,041 globally as of 30 September 2025. The company maintains its focus on enhancing margin resilience and store productivity through a combination of closure of underperforming locations and selective expansion in high-potential areas.

The period also saw further development of signature product collections, including fixed-price gold lines and new introductions in Fei Cui designs. Several new image stores opened, bringing the total to eight such stores, all delivering higher productivity compared to the average store.