Chow Tai Fook posts resilient interim results amid market recovery

In the first half of FY2026, Chow Tai Fook Jewellery Group's revenue remained stable at HK$38,986 million, with operating profit increasing by 0.7% year-on-year to HK$6,823 million, achieving a five-year record high operating profit margin of 17.5%. The group's same store sales (SSS) growth turned positive in both the Chinese Mainland (+2.6%) and Hong Kong and Macau (+4.4%). Fixed-price signature collections recorded strong sales momentum, generating total sales of HK$3.4 billion and contributing significantly to the gross profit margin.

The group's e-commerce business in the Chinese Mainland saw robust growth, with Retail Sales Value (RSV) increasing by 27.6% year-on-year, driven by targeted marketing and livestreaming. In Hong Kong and Macau, e-commerce sales surged by 138.3%. The interim dividend declared was HK$0.22 per share, reflecting a payout ratio of approximately 85.7%.

Despite short-term industry headwinds, the group is confident in sustaining its recovery through the second half of FY2026, supported by strategic initiatives, store optimization, and disciplined cost management.