Core Insights - Chow Tai Fook Jewellery Group is accelerating its overseas strategy as part of its brand transformation, highlighted by the opening of a strategic store in Bangkok and the appointment of Yang Yang as Global Brand Ambassador [1][3]. Group Overview - The Group operates over 5,000 stores globally and has a market capitalization of approximately HK$122 billion (US$16 billion) as of December 31, 2025, focusing on luxury destinations in international markets [2]. Brand Transformation - The new store at Siam Paragon showcases a blend of modern sophistication and cultural heritage, featuring exclusive pieces that honor local Thai culture [4]. - The appointment of Yang Yang aims to engage new audiences and enhance emotional connections with overseas consumers, positioning the brand as a modern embodiment of Chinese luxury [3][6]. International Expansion Strategy - Chow Tai Fook's international expansion is guided by revitalizing existing markets and entering high-potential new territories, with retail sales in the Other Markets segment growing nearly 17% year-on-year [6]. - The Group plans to open its first store in Australia and an additional store in Canada by June 2026, along with intentions to expand into the Middle East within two years [7]. Heritage and Modern Luxury - Celebrating its 95th anniversary, the Group's brand transformation journey began in 2024, blending heritage with contemporary designs to showcase Chinese artistry globally [8]. - The Group has appointed a Creative Director with international exposure to enhance innovative design and branding, introducing signature collections like CTF Rouge and CTF Joie [9]. Product Portfolio - Chow Tai Fook's brand portfolio includes the flagship brand, HEARTS ON FIRE, ENZO, and MONOLOGUE, offering a wide variety of products and expanding its range of IP collaborations [11].

Financial Performance - Revenue decreased by 17.5% to HK$89,656 million[4, 41, 87] - Gross profit increased by 1.6% to HK$26,455 million, with a gross profit margin of 29.5%[4, 41, 87] - Operating profit increased by 9.8% to HK$14,746 million, resulting in an operating profit margin of 16.4%[4, 41, 87] - Profit attributable to shareholders decreased by 9.0% to HK$5,916 million[4, 87] - The proposed final dividend is HK$0.32 per share[5] Revenue Breakdown - Mainland China retail revenue decreased by 16.9%[45] - Hong Kong & Macau of China and other markets revenue decreased by 20.6%[43, 45] - Gem-set, Platinum and K-gold jewellery accounted for 13.8% of revenue[47, 48] - Gold jewellery and products (Fixed-price) accounted for 14.6% of revenue[47] - Gold jewellery and products (Weight-based) accounted for 62.5% of revenue[47] Retail Network and Productivity - Mainland China RSV from Tier I cities accounted for 17.1%[23] - Mainland China RSV from Tier II cities accounted for 29.6%[23] - Mainland China RSV from Tier III cities accounted for 50.6%[23] - Mainland China RSV from Tier IV cities and others accounted for 2.7%[23] - Hong Kong, China accounted for 14.7% of RSV[32] - Macau, China accounted for 67.5% of RSV[32] - Other markets accounted for 17.8% of RSV[32] - Average monthly sales per store is HK$13.5 million[28] E-commerce - E-commerce RSV increased by 3.6%[30] - Average selling price in e-commerce is HK$2,500[30] - Online RSV grew by approximately 91% in Hong Kong and Macau[35]