On November 26, Chow Tai Fook announc its interim results for the six months ending September 30, 2024.
During the period, the Group’s turnover was HK$39.408 billion, a year-on-year decrease of 20.4%; profit attributable to shareholders was HK$2.53 billion, a year-on-year decrease of 44.4%.
Among them, the sales revenue of Chow Tai Fook’s gold jewelry and products fell by 21.6% year-on-year, while the sales revenue of jewelry inlays, platinum and K gold jewelry, and watches fell by 20.0% and 12.5% respectively.
In terms of stores
Chow Tai Fook clos 239 jewelry retail outlets vp quality email lists in the Mainland and 3 jewelry retail outlets in Hong Kong and Macau during the reporting period. Among them, 36 were clos in first-tier cities in the Mainland, 73 in second-tier cities, 52 in third-tier cities, and 78 in fourth-tier cities and other cities.
These investments have inde enabl Alibaba to Chow Tai Fook’s obtain impressive data at the user level. On the one hand, the number of Taobao buyers on “Double 11” this year hit a record high, and as of the end of this quarter, the number of 88VIP members reach 46 million; on the other hand, in terms of local life groups, AutoNavi’s daily active users peak at more than 300 million during the National Day holiday, a record high.
But old rivals JDcom and Pinduoduo are also not idle
In the third quarter 2024 results releas by JD close more deals with lusha’s accurate data com Group, the number of JD.com’s active users and user shopping frequency have maintain double-digit growth year-on-year for three consecutive quarters.
In the third quarter, JD.com’s revenue accelerat to 260.4 billion yuan, up 5.1% from the same period last year; operating profit was 12 billion yuan, up 29.5% from the third quarter of 2023. Although the revenue growth in the third quarter of this year was good, the growth rate of net profit slow down compar with the previous quarter.
From the perspective of specific business
The retail sector still contribut the majority mobile lead of revenue, with a year-on-year growth of 6.1% to 224.99 billion yuan, contributing Chow Tai Fook’s more than 80% of the company’s revenue. Among them, the year-on-year growth rate of core advantage categories such as 3C home appliances increas , the daily necessities category revenue maintain a high single-digit year-on-year growth for three consecutive quarters and exce the industry average growth rate, and the supermarket and clothing category revenues achiev double-digit year-on-year growth; service revenue was approximately 55.8 billion yuan.
