Chow Tai Fook Jewellery Group Limited (HK:1929)
:1929
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Chow Tai Fook Jewellery Group
(1929)
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Rating:64Neutral
Price Target:
HK$12.00
▲(7.05% Upside)
Action:ReiteratedDate:11/14/25
Chow Tai Fook Jewellery Group's overall stock score is driven by strong financial performance, particularly in cash flow generation and operational efficiency. However, recent revenue declines and increased leverage present potential risks. Technical indicators suggest a bearish short-term trend, and the stock's high P/E ratio indicates it may be overvalued, though the dividend yield offers some compensation.
Positive Factors
Free Cash Flow Strength
Consistent and improving free cash flow provides durable financial flexibility: supports dividends, reinvestment in stores and product, and debt servicing. Strong cash conversion cushions the business against cyclical retail downturns and funds strategic initiatives without immediate external financing.
Negative Factors
Recent Revenue Decline
Material year-over-year revenue contraction signals weakening top-line momentum. Persistent declines can erode scale benefits, pressure retail margins, and force cost cuts that harm long-term growth investments. Recovery may require sustained marketing, new product launches, or channel expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Consistent and improving free cash flow provides durable financial flexibility: supports dividends, reinvestment in stores and product, and debt servicing. Strong cash conversion cushions the business against cyclical retail downturns and funds strategic initiatives without immediate external financing.
Read all positive factors
Chow Tai Fook Jewellery Group (1929) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$110.59B
Dividend Yield4.21%
Average Volume (3M)13.93M
Price to Earnings (P/E)15.2
Beta (1Y)1.00
Revenue Growth-9.49%
EPS Growth32.56%
CountryHK
Employees26,500
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)0.26
Shares Outstanding9,865,367,000
10 Day Avg. Volume18,038,485
30 Day Avg. Volume13,927,995
Financial Highlights & Ratios
PEG Ratio-1.61
Price to Book (P/B)3.33
Price to Sales (P/S)0.98
P/FCF Ratio9.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$17.53Price Target Upside56.37% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)0.99
Revenue Forecast (FY)HK$97.30B
Chow Tai Fook Jewellery Group Business Overview & Revenue Model
Company Description
Chow 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...
How the Company Makes Money
Chow Tai Fook Jewellery Group primarily makes money by selling jewellery products to consumers through its retail network and related channels. Its revenue model is centered on (1) sales of gold jewellery and products, where pricing typically refl...
Chow Tai Fook Jewellery Group Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
65
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 89.23B | 89.66B | 108.71B | 94.68B | 98.94B | 56.75B |
| Gross Profit | 25.98B | 26.45B | 22.29B | 22.73B | 23.30B | 16.03B |
| EBITDA | 10.44B | 10.61B | 11.71B | 10.23B | 11.33B | 7.12B |
| Net Income | 5.92B | 5.92B | 6.50B | 5.38B | 6.71B | 2.90B |
Balance Sheet | ||||||
| Total Assets | 87.15B | 76.52B | 88.82B | 87.34B | 87.74B | 65.24B |
| Cash, Cash Equivalents and Short-Term Investments | 10.35B | 7.58B | 7.70B | 11.73B | 14.94B | 7.22B |
| Total Debt | 35.74B | 20.79B | 29.89B | 22.11B | 25.98B | 24.51B |
| Total Liabilities | 61.82B | 49.13B | 62.07B | 53.98B | 53.18B | 38.19B |
| Stockholders Equity | 24.39B | 26.43B | 25.71B | 32.40B | 33.62B | 26.34B |
Cash Flow | ||||||
| Free Cash Flow | 5.31B | 9.68B | 12.87B | 7.72B | 12.19B | 6.92B |
| Operating Cash Flow | 5.80B | 10.25B | 13.84B | 9.70B | 13.72B | 7.90B |
| Investing Cash Flow | -514.70M | -401.90M | -716.60M | -1.95B | -1.51B | -1.11B |
| Financing Cash Flow | 1.26B | -9.88B | -16.83B | -10.17B | -3.52B | -7.10B |
Chow Tai Fook Jewellery Group Technical Analysis
Negative
11.21
Price Trends
12.90
Negative
13.18
Negative
13.68
Negative
Market Momentum
-0.52
Negative
40.48
Neutral
61.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1929, the sentiment is Negative. The current price of 11.21 is below the 20-day moving average (MA) of 11.37, below the 50-day MA of 12.90, and below the 200-day MA of 13.68, indicating a bearish trend. The MACD of -0.52 indicates Negative momentum. The RSI at 40.48 is Neutral, neither overbought nor oversold. The STOCH value of 61.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1929.
Chow Tai Fook Jewellery Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$2.29B | 3.61 | 5.10% | 4.05% | 6.60% | -14.32% | |
73 Outperform | HK$13.82B | 5.90 | 9.54% | 4.43% | 10.89% | 2.02% | |
64 Neutral | HK$110.59B | 15.23 | 23.74% | 4.21% | -9.49% | 32.56% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$9.42B | 4.77 | 12.17% | 4.60% | -10.41% | 67.25% | |
60 Neutral | HK$8.87B | 7.20 | 20.83% | 1.70% | ― | ― | |
44 Neutral | HK$176.92M | -2.42 | -43.66% | ― | -27.28% | 47.40% |
* Consumer Cyclical Sector Average
HK:1929
Chow Tai Fook Jewellery Group
11.21
3.60
47.27%
HK:0116
Chow Sang Sang Holdings International
14.03
7.87
127.65%
HK:0887
Emperor Watch & Jewellery
0.32
0.14
80.00%
HK:0590
Luk Fook Holdings (International)
23.54
9.92
72.85%
HK:0417
Tse Sui Luen Jewellery (International) Ltd
0.71
0.05
7.58%
HK:6168
Zhou Liu Fu Jewellery Co., Ltd. Class H
20.12
-19.62
-49.37%
Chow Tai Fook Jewellery Group Corporate Events
Chow Tai Fook Renews Connected Tenancy Deal With New Caps Set to 2029
Mar 30, 2026
Chow Tai Fook Jewellery Group has renewed its tenancy framework agreement with connected party CTF Enterprises for another three-year term from 1 April 2026 to 31 March 2029, covering leases of premises for retail, residential and office purposes....
Chow Tai Fook Renews Master Leasing Deal with New World Development and Sets New Caps
Mar 30, 2026
Chow Tai Fook Jewellery Group has renewed its Master Leasing and Licensing Agreement with New World Development (NWD) for a further three years from the expiry of the current term on 30 June 2026 to 30 June 2029, with no change to the existing ter...
Chow Tai Fook Refines Nomination Committee Mandate to Strengthen Board Governance
Mar 30, 2026
Chow Tai Fook Jewellery Group has detailed the terms of reference for its Nomination Committee, a board sub-committee responsible for board composition, director appointments, re-elections and removals. The committee was established in 2011 and mu...
Chow Tai Fook sales rebound on higher gold prices and brand upgrade push
Jan 21, 2026
Chow Tai Fook Jewellery Group reported a robust rebound in its jewellery business for the three months ended 31 December 2025, with group retail sales value rising 17.8% year-on-year, driven primarily by the Chinese mainland, which contributed 84....
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.