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Chow Tai Fook Jewellery Group (HK:1929)
:1929
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Chow Tai Fook Jewellery Group (1929) AI Stock Analysis

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Chow Tai Fook Jewellery Group

(OTC:1929)

Rating:76Outperform
Price Target:
HK$15.50
▲(14.14%Upside)
The overall stock score reflects strong technical momentum and robust financial performance, despite recent revenue declines. The stock's valuation is reasonable, providing a balanced investment case. The absence of earnings call data and corporate events does not affect the score.

Chow Tai Fook Jewellery Group (1929) vs. iShares MSCI Hong Kong ETF (EWH)

Chow Tai Fook Jewellery Group Business Overview & Revenue Model

Company DescriptionChow Tai Fook Jewellery Group Limited, an investment holding company, manufactures and sells jewelry products. The company offers gem-set, platinum and k-gold jewelry, and k-gold jewelry and products under the CHOW TAI FOOK, HEARTS ON FIRE, T MARK, ENZO, MONOLOGUE, and SOINLOVE brands. It also distributes watches of various brands. In addition, the company is involved in the trading of diamonds; and the provision of services to franchisees. The company also sells its products through online platforms. As of March 31, 2022, it had 5,902 points of sale in Mainland China, Hong Kong, Macau, Taiwan, Cambodia, Korea, Japan, Malaysia, the Philippines, Singapore, Thailand, the United States, and Vietnam. The company was founded in 1929 and is headquartered in Central, Hong Kong. Chow Tai Fook Jewellery Group Limited is a subsidiary of Chow Tai Fook Capital Limited.
How the Company Makes MoneyChow Tai Fook Jewellery Group generates revenue primarily through the sale of its jewelry and watch products across its expansive retail network. The company operates numerous physical retail stores, e-commerce platforms, and franchise operations, which together form its primary revenue streams. Key revenue drivers include the sale of gold products, gem-set jewelry, and watches, with gold products typically contributing a significant portion of sales due to their popularity in the Asian market. Additionally, Chow Tai Fook's earnings are bolstered by strategic partnerships and collaborations with luxury brands, enhancing its product offerings and market appeal. Factors such as brand recognition, market expansion, and efficient supply chain management also contribute significantly to its financial performance.

Chow Tai Fook Jewellery Group Financial Statement Overview

Summary
Chow Tai Fook Jewellery Group shows robust operational efficiency and cash flow generation, which are critical strengths. However, the decline in revenue in recent years and increased leverage may pose risks if not managed well. The balance sheet reveals a need for cautious financial management going forward to ensure continued financial health in the face of potential market fluctuations.
Income Statement
72
Positive
Chow Tai Fook Jewellery Group has demonstrated strong revenue performance over the years, with a notable growth from 2020 to 2022. However, there was a decline in revenue in 2024 and 2025. The gross profit margin improved from 28.3% in 2020 to 29.5% in 2025, showcasing better cost management. Net profit margins showed some volatility but remained positive, ending at 6.6% in 2025. EBIT and EBITDA margins have been consistent, indicating robust operational efficiency.
Balance Sheet
65
Positive
The company's debt-to-equity ratio increased from 0.93 in 2020 to 0.79 in 2025, reflecting a more leveraged position, which could be a concern if revenue continues to decline. Return on equity decreased from 11% in 2020 to 22.4% in 2025, indicating better utilization of equity over time. The equity ratio decreased from 40.4% in 2020 to 34.5% in 2025, suggesting more reliance on liabilities.
Cash Flow
78
Positive
Chow Tai Fook's cash flow position is strong with consistent free cash flow generation. The free cash flow to net income ratio improved significantly, highlighting efficient cash generation relative to profits. Operating cash flow to net income ratio also increased, indicating strong cash earnings. Despite a decrease in operating cash flows from 2024 to 2025, capital expenditure management remained effective.
BreakdownMar 2025Mar 2024Mar 2023Mar 2022Mar 2021
Income Statement
Total Revenue89.66B108.71B94.68B98.94B70.16B
Gross Profit26.45B22.29B22.73B23.30B20.26B
EBITDA10.61B11.71B10.23B11.33B10.87B
Net Income5.92B6.50B5.38B6.71B6.03B
Balance Sheet
Total Assets76.52B88.82B87.34B87.74B64.31B
Cash, Cash Equivalents and Short-Term Investments7.58B7.70B11.73B14.94B6.03B
Total Debt20.79B29.89B22.11B25.98B13.64B
Total Liabilities49.13B62.07B53.98B53.18B32.74B
Stockholders Equity26.43B25.71B32.40B33.62B30.77B
Cash Flow
Free Cash Flow9.68B12.87B7.72B12.19B9.39B
Operating Cash Flow10.25B13.84B9.70B13.72B10.23B
Investing Cash Flow-401.90M-716.60M-1.95B-1.51B-779.90M
Financing Cash Flow-9.88B-16.83B-10.17B-3.52B-10.85B

Chow Tai Fook Jewellery Group Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price13.58
Price Trends
50DMA
12.37
Positive
100DMA
10.71
Positive
200DMA
8.89
Positive
Market Momentum
MACD
0.43
Positive
RSI
54.08
Neutral
STOCH
35.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1929, the sentiment is Neutral. The current price of 13.58 is above the 20-day moving average (MA) of 13.57, above the 50-day MA of 12.37, and above the 200-day MA of 8.89, indicating a neutral trend. The MACD of 0.43 indicates Positive momentum. The RSI at 54.08 is Neutral, neither overbought nor oversold. The STOCH value of 35.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1929.

Chow Tai Fook Jewellery Group Peers Comparison

Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
HK$138.90B22.9322.73%2.84%-17.53%-8.90%
57
Neutral
HK$25.53B4.08-2.03%6.14%-0.31%-67.64%
$238.41M65.56-6.53%
$713.25M6.426.25%9.38%
$499.25M12.244.99%0.95%
$1.61B11.238.44%10.48%
47
Neutral
HK$2.27B0.28%-69.05%34.94%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:1929
Chow Tai Fook Jewellery Group
13.48
5.98
79.81%
CEBTF
Citychamp Watch & Jewellery Group
0.02
-0.10
-83.33%
CHOWF
Chow Sang Sang Holdings International
0.98
0.17
20.99%
EPRJF
Emperor Watch & Jewellery
0.06
0.04
200.00%
LKFLF
Luk Fook Holdings (International)
2.70
0.87
47.54%
HK:1815
CSMall Group Limited
1.71
1.43
510.71%

Chow Tai Fook Jewellery Group Corporate Events

Chow Tai Fook Announces New Board Structure
Jun 30, 2025

Chow Tai Fook Jewellery Group has announced the composition of its board of directors and their respective roles, effective from July 1, 2025. This announcement outlines the leadership structure and committee memberships, which are crucial for the company’s strategic direction and governance, potentially impacting its operational efficiency and stakeholder confidence.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Completes HK$8.8 Billion Convertible Bond Issuance
Jun 30, 2025

Chow Tai Fook Jewellery Group has successfully completed the issuance of HK$8.8 billion in convertible bonds due in 2030, which are set to be listed on the Hong Kong Stock Exchange. The proceeds from this issuance will be directed towards the development and financing of its gold jewelry business, store upgrades, and strategic expansion in both domestic and international markets, enhancing the company’s operational capabilities and market positioning.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Jewellery Group Announces Annual General Meeting and Key Resolutions
Jun 26, 2025

Chow Tai Fook Jewellery Group Limited has announced its upcoming annual general meeting, scheduled for July 23, 2025, where shareholders will address several key resolutions. These include the adoption of audited financial statements, declaration of a final dividend, re-election of directors, and re-appointment of PricewaterhouseCoopers as auditors. Additionally, the meeting will consider authorizing the board to issue new shares, which could impact the company’s capital structure and shareholder value.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Proposes HK$8.8 Billion Convertible Bonds for Expansion
Jun 16, 2025

Chow Tai Fook Jewellery Group has announced a proposed issue of HK$8.8 billion in convertible bonds due in 2030. The proceeds from this issuance will be used to develop and finance the company’s gold jewellery business, upgrade stores, and support strategic expansion efforts. The bonds are intended to be listed on the Hong Kong Stock Exchange, and their conversion could result in a significant increase in the company’s share capital. This move is expected to bolster the company’s market positioning and enhance its financial flexibility.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Jewellery Group Releases Annual Results for 2025
Jun 12, 2025

Chow Tai Fook Jewellery Group Limited has announced its audited results for the fiscal year ending March 31, 2025, along with unaudited key operational data for the period from April 1 to May 31, 2025. This announcement meets the requirements of the Hong Kong Stock Exchange for preliminary annual results disclosure, indicating the company’s compliance with listing regulations.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Jewellery Group Unveils 2025 Annual Results
Jun 12, 2025

Chow Tai Fook Jewellery Group Limited has released its annual results for the year ending March 31, 2025. The announcement, made by Chairman Dr. Cheng Kar-Shun, Henry, highlights the company’s performance and strategic direction. This presentation is significant for stakeholders as it provides insights into the company’s financial health and market positioning, which are crucial for future investment and business decisions.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Announces Final Dividend for FY 2025
Jun 12, 2025

Chow Tai Fook Jewellery Group Limited announced a final ordinary cash dividend of HKD 0.32 per share for the financial year ending 31 March 2025. The dividend will be paid on 20 August 2025, with the ex-dividend date set for 05 August 2025, marking a continued commitment to returning value to shareholders.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Announces Director Resignation
Jun 11, 2025

Chow Tai Fook Jewellery Group Limited announced the resignation of Mr. Liu Chun-Wai, Bobby, from his position as a director. Mr. Liu stepped down to focus more on his personal endeavors, and the company confirmed that no other changes have been made to the board’s composition or the previously released information.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Announces Executive Director Resignation
Jun 6, 2025

Chow Tai Fook Jewellery Group Limited announced the resignation of Mr. Liu Chun-Wai, Bobby from his position as an executive director, effective 30 June 2025, due to personal reasons. The board expressed gratitude for Mr. Liu’s contributions, and he confirmed no disagreements with the board, ensuring a smooth transition without any issues for stakeholders.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$13.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Clarifies Related Party Transactions in Annual Report 2024
Jun 2, 2025

Chow Tai Fook Jewellery Group Limited has issued a supplemental announcement to its Annual Report 2024, clarifying certain related party transactions. The company has provided additional information regarding concessionaire fees and franchise sales, stating that these do not constitute connected transactions under the Listing Rules. Other related party transactions are either exempt or non-exempt connected transactions, and the company has complied with the necessary disclosure requirements. This announcement does not affect any other information in the Annual Report 2024.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook to Review Annual Results and Dividend Proposal
May 23, 2025

Chow Tai Fook Jewellery Group Limited has announced that its board of directors will meet on June 12, 2025, to review and approve the company’s annual results for the fiscal year ending March 31, 2025. The meeting will also consider the recommendation of a final dividend and address other business matters, which could have implications for the company’s financial strategy and stakeholder interests.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

Chow Tai Fook Reports Q4 Sales Decline Amid Economic Challenges
Apr 24, 2025

Chow Tai Fook Jewellery Group reported a decline in retail sales value and same store sales for the fourth quarter ending March 2025, attributed to macroeconomic challenges and high gold prices affecting consumer sentiment. Despite these challenges, the company saw a narrowing decline in same store sales in Mainland China due to successful product optimization and effective marketing campaigns. In Hong Kong and Macau, sales were impacted by changes in spending patterns of Mainland tourists. The company also made progress in brand transformation with new image stores and strong sales from its iconic collections, exceeding annual sales targets.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 08, 2025