股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年3月31日 狀態: 新提交 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01929 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 9,864,944,600 | | 422,800 | | 9,865,367,400 | | 增加 / 減少 (-) | | | | | | | | | 本月底結存 | | | 9,864,944,600 | | 422,800 | | 9,865,367,400 | 致：香港交易及結算所有限公司 公司名稱: 周大福珠寶集團有限公司 呈交日期: 2026年4月1日 I. 法定/註冊股本變動 | 1. 股份分類 | ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 CHOW TAI FOOK JEWELLERY GROUP LIMITED ক๔⺼⤍ᄣ䯳ᰶ䭽ڙथ 喍䪸ᰩ㓑ሣ㽨ڷ⮱⿸ᰶ䭽ڙथ喎 㗎ЪА㮌: 1929 總 租 賃 及 特 許 協 議 更 新 年 度 上 限 總 租 賃 及 特 許 協 議 茲 提 述 本 公 司 日 期 為2020年4月28日 及2023年3月30日 的 公 告，內 容 有 關 總 租 賃 及 特 許 協 議。根 據 總 租 賃 及 特 許 協 議，新 世 界 發 展 集 團 成 員 公 司 與 本 集 團 成 員 公 司 已 經 並 將 不 時 就 任 何 房 地 產 物 業（包 括 但 不 限 於 零 售 店、店 中 店 及 專 櫃）訂 立 租 約 或 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 CHOW TAI FOOK JEWELLERY GROUP LIMITED ক๔⺼⤍ᄣ䯳ᰶ䭽ڙथ 喍䪸ᰩ㓑ሣ㽨ڷ⮱⿸ᰶ䭽ڙथ喎 㗎ЪА㮌: 1929 持 續 關 連 交 易 周 大 福 企 業 租 賃 框 架 協 議 更 新 年 度 上 限 周 大 福 企 業 租 賃 框 架 協 議 謹 此 提 述 內 容 有 關 周 大 福 企 業 租 賃 框 架 協 議 的2014年 公 告、2017年 公 告、 2020年 公 告 及2023年 公 告。根 據 周 大 福 企 業 租 賃 框 架 協 議，本 集 團 成 員 公 司 與 周 大 福 企 業 集 團 成 員 公 司 已 經 及 將 會 不 時 訂 立 多 項 租 賃 安 ...

提名委員會職權範圍 組成 2. 提名委員會按 2011 年 11 月 17 日的董事會決議案而成立。 成員 3. 提名委員會成員須由董事會自董事中委任，並須包括不少於三名成員，當中須大多數為獨立非執 行董事。應委任至少一名不同性別的董事。會議的法定人數為兩名成員，當中須最少一名成員為獨立 非執行董事。 4. 提名委員會主席須由董事會委任，並須為獨立非執行董事或董事會主席。 會議 5. 提名委員會須在適當時候舉行會議，惟不少於每年一次。提名委員會主席須應任何提名委員會成 員要求召開會議。 6. 完整的議程和其他有關文件須及時、並於提名委員會會議擬定日期前最少三日（或其成員可能協 定的有關其他期限）發送至全體成員。 7. 公司秘書須為提名委員會秘書。 組織架構 1. 提名委員會（「提名委員會」）為周大福珠寶集團有限公司（「本公司」，連同其附屬公司 （「本集團」））董事（「董事」）會（「董事會」）轄下的小組委員會，由董事會授權代其審議本 公司董事會組成、委任、重選和罷免董事。 8. 提名委員會會議跟隨本公司的組織章程細則（經不時修訂）有關董事會會議相關條文的相同程序。 1 股東週年大會 9. 提名委員會主席（或倘其 ...

Core Viewpoint - The article discusses the dramatic fluctuations in gold prices, highlighting a recent sharp decline after a period of significant increase, and critiques the marketing strategies employed by jewelry brands that led consumers to make impulsive purchases based on fear of missing out [1][5][19]. Group 1: Market Dynamics - In January, gold prices reached a historical peak, with domestic gold prices nearing 1700 yuan per gram, leading to widespread consumer enthusiasm and purchases [1][4]. - By March, gold prices experienced a nine-week consecutive decline, with a weekly drop exceeding 10%, marking the worst record since 1983 [3][4]. - The decline in gold prices has resulted in significant financial losses for consumers who bought gold jewelry under the impression that prices would rise [4][10]. Group 2: Consumer Behavior - Many consumers were driven by a marketing narrative suggesting imminent price increases, leading them to make hasty purchases of gold jewelry [5][18]. - The marketing strategy employed by brands, including ambiguous statements about price increases, heightened consumer anxiety and urgency to buy [6][7]. - A notable case involved a consumer who, believing in the impending price hike, purchased multiple pieces of jewelry only to face a subsequent drop in gold prices, leading to substantial unrealized losses [10][11]. Group 3: Brand Strategy and Response - Jewelry brands, particularly Chow Tai Fook, faced a dilemma as they had previously hinted at price increases but were unable to follow through due to falling gold prices [13][14]. - The official response from brands indicated that price adjustments would be influenced by raw material costs and market conditions, reflecting a cautious approach in light of the volatile market [13][14]. - The article questions the foresight of brands in managing consumer expectations regarding price changes, suggesting a lack of consideration for potential market downturns [14][15]. Group 4: Market Sentiment and Future Outlook - The current market sentiment is characterized by indecision, with potential buyers hesitant to act and previous buyers seeking to recover losses [17]. - The article emphasizes the importance of understanding market dynamics and urges consumers to educate themselves on the factors influencing gold prices rather than relying on impulsive decisions driven by marketing tactics [17][19]. - Ultimately, the article concludes that while gold remains a reliable store of value, gold jewelry should be viewed as a consumer product rather than an investment vehicle [19][20].

Group 1 - Bank of America Securities downgraded the ratings of Lao Poo Gold (06181) and Chow Tai Fook (01929) from "Buy" to "Neutral" [1] - The target price for Lao Poo Gold was reduced from HKD 860 to HKD 774, while Chow Tai Fook's target price was lowered from HKD 17.5 to HKD 13.1 [1] - The report indicates that fluctuations in gold prices and a slowdown in macroeconomic growth increase risks to growth prospects [1] Group 2 - The ongoing conflict in Iran adds uncertainty to the upward cycle of gold prices [1] - The increase in gold prices over the past two years has been a major driver for gold and jewelry stocks, as gold is viewed as a good store of value [1] - Despite the potential for gold prices to maintain an upward trend, the report suggests that the growth of gold jewelry consumption may face limits due to consumer fatigue and the decline of product cycles [1] Group 3 - National gold and retail sales growth slowed to 13% in the first two months of this year, leading to expectations of a slowdown in same-store sales growth for Chow Tai Fook in Q1 compared to 21% in Q4 of the previous year [1] - While a decline in gold prices could boost same-store sales growth in weight-based products, this may be offset by weaker gross margins and inventory write-downs [1] - For Lao Poo Gold, the earnings forecast for this year was raised by 20% to reflect better-than-expected performance in the previous year and the first quarter of this year [1]

Group 1 - The core viewpoint of the report is that Bank of America Securities has downgraded the ratings of Lao Pu Gold and Chow Tai Fook from "Buy" to "Neutral" due to increased risks in growth prospects stemming from gold price volatility and a slowdown in macroeconomic growth [1] - Lao Pu Gold's target price has been reduced from HKD 860 to HKD 774, while Chow Tai Fook's target price has been lowered from HKD 17.5 to HKD 13.1 [1] - The report highlights that the recent rise in gold prices has been a major driver for gold and jewelry stocks, as gold is viewed as a reliable store of value [1] Group 2 - The ongoing conflict in Iran adds uncertainty to the upward cycle of gold prices, which could impact the market further [1] - The company believes that even if gold prices maintain an upward trend, the growth in gold jewelry consumption may face limits, as consumer fatigue and the decline of product cycles could cyclically drag down sales [1]

Group 1 - Chow Tai Fook Jewelry Group has officially entered the Australian market with the opening of its first store in Sydney's Westfield shopping center, marking a significant milestone in its brand transformation journey [2] - The company had previously anticipated entering the Australian market by June 2026 and also plans to open stores in Canada and the Middle East within the next two years [2] - In 2023, Chow Tai Fook has been actively expanding its store network, including the opening of its largest flagship store in Hong Kong, demonstrating its commitment to the future development of the region [2] Group 2 - The company emphasizes the importance of opening high-quality stores as a key part of redefining the retail experience, which has proven effective in mainland China [3] - Chow Tai Fook plans to open two new design stores in Shanghai by 2025, with one store achieving an average monthly sales of over RMB 17 million since its opening [3] - The company has established a vast network of over 5,000 stores globally, with a dual-track strategy focusing on revitalizing existing markets and expanding into high-potential new markets, resulting in a nearly 17% year-on-year growth in retail sales from international markets [3]

Core Insights - Chow Tai Fook Group has opened its first store in Australia, located in Westfield Sydney, marking its entry into the Australian market and representing a significant step in the brand's transformation process [1] - The group currently operates over 5,000 stores globally, with its international presence extending to countries such as Canada, Singapore, Thailand, Malaysia, South Korea, and Japan [1] - The Australian expansion aims to enhance the global brand image, continue the brand's craftsmanship heritage, and expand luxury experiences [1] Company Strategy - The opening of the Sydney store is described as an important milestone in the brand's transformation, aiming to showcase its historical heritage and exquisite craftsmanship on an international stage [1] - The cultural atmosphere of Sydney is deemed suitable for the brand's regional layout, with expectations to establish a deep connection with the Australian community through high-quality jewelry [1] Store Design and Experience - The new store is located near several international fashion brands and features a design primarily in "Chow Tai Fook Red," blending contemporary design with Eastern aesthetics [1] - The store utilizes black walnut wood and champagne gold details to create a high-end atmosphere, including a dedicated VIP area to provide personalized appreciation services and premium retail experiences [1]

Group 1 - The core point of the article is that Chow Tai Fook Jewelry has opened its first store in Australia, marking a significant milestone in its brand transformation journey [2] - The new store is located in Westfield Sydney, adjacent to several international fashion brands, indicating a strategic choice for high visibility and foot traffic [2] - Chow Tai Fook Jewelry has a vast network of over 5,000 stores globally, with recent expansions into international luxury markets including Canada, Singapore, Thailand, Malaysia, South Korea, and Japan [2] Group 2 - The opening in Australia follows the announcement of a new store in Siam Paragon, a landmark shopping center in Bangkok, Thailand, showcasing the company's ongoing international expansion efforts [2] - The Vice Chairman of Chow Tai Fook Jewelry, Zheng Zhiwen, emphasized that this store opening represents a further step in bringing the brand's rich history and exquisite craftsmanship to the international stage [2]