CHOW TAI FOOK IPO PROSPECTUS PDF

Chow Tai Fook Jewellery Group (HK) Valuation. 24XX forward P/E, according to IPO prospectus, as consolidated profit for the. Dispatch of share certificates and White Form e-IPO Refund Offering” in this prospectus contains details, including conditions, of the Global Offering. (2) Chow Tai Fook Enterprises Limited, a company incorporated. CHOW TAI FOOK JEWELLERY GROUP LIMITED. (Incorporated in the Cayman . Enterprises Group, as disclosed in the Prospectus and the.

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After these restrictions lapse or if they are waived or breached, future sales, or perceived sales, of substantial amounts of our Shares could negatively impact the market price of our Shares and our ability to raise capital in the future. Set out below are the key milestones in our over 80 years of heritage: We cannot assure you that our information systems will always operate without interruption or malfunction. For polished diamonds, the average price in decreased by We diversify our portfolio of chkw transactions across many counterparties.

The terms of our franchise agreements regulate various facets of the operations of the local franchisees, which aim to ensure a uniform shopping experience and consistent high-quality customer service across all our POS.

It is a customary industry practice to source watches from suppliers of international brands on an order-by-order basis. In addition, these seasonal consumption patterns may cause our operating results and financial condition to fluctuate from period to period. While a significant percentage of our raw materials are commodities, which are obtainable through a variety of sources, if the i availability of, ii our access to, or iii the cost of purchasing certain raw materials that we need for our products is adversely affected for example, due to a decrease in the number of suppliers of such raw materials, or a reduction in the overall availability of such raw materials — whether due to a lack of supply, the loss of a supply contract, increased demand from our competitors or fluctuations in world market priceswe may have to pay more for, or may be unable to source, these raw materials.

This phenomenon is also expected to be influenced by event-driven purchases where aspirational consumers may purchase the higher value diamond rings in lieu of or in addition to gold products for weddings, for example.

However, there is no assurance that the PBOC will not in the future enforce on such noncompliance retrospectively.

As at 30 Septemberwe had franchised POS which were operated by over franchisees, and amongst our self-operated POS, we had joint-venture POS which were operated by over 20 joint-venture partners. Due to a gap of up to four business days between pricing and trading of our Shares, and given that our Shares will not commence trading on the Stock Exchange until the Listing Date, the initial trading price of our Shares could be lower than the Offer Price.

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Leverage our market expertise.

Demand for authenticity and quality Due to the attractive margins and imitable semblance of certain jewellery, the PRC jewellery market has attracted fraudulent market players retailing imitation jewellery that is falsely advertised as real, authentic products made from prospecyus metals and stones. Changes in the fair value of gold loans and bullion forward contracts affect cost of goods sold as they reflect our methods to hedge the risk of price changes in our gold inventory.

Going forward, the retail sales of consumer goods in Hong Kong and Macau is forecasted to grow at an even cook pace with a CAGR of Within prospectys segment, Chow Tai Fook prospectis a leading position with a market share of Net proceeds to the Company from the issue of new Shares: History and Corporate Structure. Although a new POS generally yields an operating profit within the first year of its operation, it may not achieve our expected level of profitability for a prolonged period of time, or at all, due to a variety of factors, including, among others, i our ability to properly position our new POS and to execute our business strategy in the locality, ii actions by our existing or new competitors in the same locality and iii the effectiveness of our marketing activities in the locality.

We make no representation as taai the appropriateness, accuracy, completeness or reliability of any such information, forecasts, views or opinions expressed or any such publications.

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Tzi therefore cannot be certain that our growth rate will be sustainable in the long run. Our revenues and results are impacted by changing economic conditions. Event-driven tia purchases of PRC consumers Event-driven purchases are an important driver of jewellery retail sales in the PRC, Hong Kong and Macau due to the Chinese tradition of jewellery gift-giving including gold ornaments and diamond jewellery at ceremonial and festive events such as weddings, Mid-Autumn Festival, Chinese New Year, birthday celebrations and newborn arrivals.

Application lists open 3. The information and statistics contained in this prospectus have been derived partly from publicly available government and official sources.

An outbreak of a health epidemic fool contagious disease could result in a widespread health crisis and restrict the level of business activities in affected areas, which may in turn adversely affect our business.

We may not be able to renew all of our existing leases or concessionaire agreements for our POS when they expire, ioo if they are terminated, on terms acceptable to us.

The following graph depicts the evolution of gold prices over and October Challenging economic conditions and economic uncertainty over a prolonged period of time could adversely affect our sales or growth.

At times, the interests of the Controlling Shareholders may not be consistent with the interests of our other Shareholders. Our management also holds regular meetings to review the effectiveness of our hedging strategies. If the PRC government introduces more stringent environmental requirements, we will need to incur additional costs to meet these requirements.

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Net cash from used in financing activities. Driven primarily by the favourable demographics, increasing disposable income and the performance of the overall economy at large, going forward, the PRC jewellery market is forecasted to grow at a significantly faster rate than GDP with a CAGR of If the relevant PRC tax authorities hold that our overseas holding company to be transferred does not have substance or the Indirect Transfer does not have any bona fide commercial purpose and was conducted for the purpose of avoiding PRC tax, or any such transfers are otherwise taxable under the Circular, we may be required to pay enterprise income taxes for the Indirect Transfers.

Cheng Kar-Shun, Henry Mr. Gem-set jewellery represented the second largest product category by retail value in the PRC. Inthere were reports of occurrences of H1N1 flu in certain regions of the world, including the PRC.

As at 30 Septemberout of 1, of our self-operated POS were operated as Concessionaire Counters within department stores through concessionaire agreements. Our new POS may not achieve our expected level of profitability within our desired time frame, or at all.

Chow Tai Fook – Prospectus_图文_百度文库

We will also invest in and continue to improve our design and production capabilities. Byjewellery sales from department stores is forecasted to grow at a CAGR of Offer Price per Share Board lot Offering structure: In either instance, our business and results of operations could be adversely affected.

For many Chinese consumers, their first jewellery purchase is typically gold products, which many Chinese consumers believe to be the entry points of their jewellery customer life cycle. In consideration for maintaining our Concessionaire Counter within a department store, the host department store takes a commission of our sales in terms of concessionaire fees.

Correspondingly, our profit for the year increased by Expenses for our host department stores, such as rental expenses, may increase in the future. Any of the above factors could increase the costs of our production or disrupt our production in the Pearl River Delta, which may have a material adverse effect on our business, results of operations or financial condition.

Dealings in the Shares registered in our Hong Kong register of members will be subject to Hong Kong stamp duty. Given Hong Kong and Macau are relatively small in size compared prspectus the PRC, it is difficult for jewellery retailers to fpok economies of scale and achieve satisfactory returns through franchising.

Consequently, our business, results of operations, financial condition and growth strategies may be materially and adversely affected.