Chow Sang Sang Holdings International Limited · HKEX:116
Chow Sang Sang Holdings International — FY2024 Earnings Presentation
39 slides from Chow Sang Sang Holdings International's earnings presentation, March 2025
Slide 1: 2024 Annual Results Presentation
CHOW SANG SANG HOLDINGS INTERNATIONAL LIMITED 周生生集團國際有限公司 (Incorporated in Bermuda with limited liability) Stock code: 116 2024 Annual Results Presentation March 2025
Slide 2: Disclaimer
Disclaimer The information, statements and opinions contained in this Presentation and any subsequent discussion do not constitute an offer to sell or solicitation of any offer to subscribe for or purchase any securities or other financial instruments or any advice or recommendation in respect of su
Slide 3: Presentation Outline
Presentation Outline I. Financial Highlights II. Financial Review III. Strategies and Future Plans IV. Q&A Session V. Appendix 3
Slide 4: I. Financial Highlights
I. Financial Highlights ale chow Sang Sang
Slide 5: Financial Highlights
Financial Highlights (HK$'M) For the year ended 31 Dec | Change | 2022 2023 2024 | 24vs 23 | Turnover - Continuing operations 20,557 25,013 21,176 -15% Retail of jewellery and watches 19,752 24,274 20,697 15% Wholesale of precious metals 766 711 451 -37% Others 39 28 28 +0% Gross profit - Continuing
Slide 6: Group Operating Results by Segment
Group Operating Results by Segment Turnover breakdown – Continuing operations Results breakdown – Continuing operations 0.2% 0.2% 0.2% 100% 2.8% 2.1% 100% 3.7% 0.1% 0.2% 90% 90% 80% 80% 70% 70% 60% 60% 50% 96.1% 97.0% 97.7% 50% 105.1% 104.2% 105.6% 40% 40% 30% 30% 20% 20% 10% 10% 0% 0% 2022 2023 202
Slide 7: II. Financial Review
ll. Financial Review let Chow Sang Sang
Slide 8: Retail Segment Performance
Retail Segment Performance Turnover Segment results (HK$M) (HK$M) 28,000 2,400 8.0% 6.2% 24,274 24,000 5.4% 6.0% 2,000 20,697 4.4% 19,752 20,000 4.0% 11,602 1,600 1,498 16,000 9,648 2.0% 10,083 404 1,200 1,118 12,000 0.0% 872 356 800 214 8,000 -2.0% 12,672 1,094 11,049 9,669 400 762 4,000 658 -4.0%
Slide 9: Retail Turnover by Geographical Area
Retail Turnover by Geographical Area 2022 2023 2024 Taiwan Taiwan Taiwan 1% 1% 2% HK & HK & HK & Macau Macau Macau 30% 34% 33% Mainland Mainland Mainland China China China 69% 65% 65% 9
Slide 10: Retail Segment Performance by Geographical Area
Retail Segment Performance by Geographical Area Retail segment turnover and GP margin Retail segment results and margin (HK$M) (HK$M) 35,000 3,000 15.4% 16.0% 28.8% 30.0% 30,000 27.3% 27.1% 10.3% 12.0% 2,500 8.7% 7.3% 8.0% 24,274 25.0% 25,000 6.3% 281 5.5% 20,697 2,000 5.5% 4.7% 4.0% 19,752 3.9% 20,
Slide 11: Mainland China Retail: Turnover & Average Selling Price
Mainland China Retail: Turnover & Average Selling Price Mainland China retail turnover Retail sales mix by product type (HK$M) 2023 2024 18,000 1H 2H Overall 1H 2H Overall 15,818 Gold jewellery and 78% 80% 79% 80% 80% 80% products 15,000 13,697 13,508 Gem-set jewellery 10% 8% 9% 7% 6% 7% Platinum/Ka
Slide 12: Omni-Channel Sales as a Percentage of Total Sales - Mainland China
Omni-Channel Sales as a Percentage of Total Sales - Mainland China (HK$M) 5,000 40.0% 34% 31% 31% 4,500 30.0% 4,000 22% 19% 19% 20.0% 3,500 2,974 -0% 2,967 10.0% 3,000 2,666 2,500 0.0% 1,380 +7% 1,482 2,000 1,271 -10.0% 1,500 -20.0% 1,000 1,594 1,485 1,395 -30.0% 500 0 -40.0% 2022 2023 2024 1H onlin
Slide 13: Hong Kong and Macau Retail: Turnover & Average Selling Price
Hong Kong and Macau Retail: Turnover & Average Selling Price Hong Kong and Macau retail turnover Retail sales mix by product type (HK$M) 2023 2024 10,000 1H 2H Overall 1H 2H Overall Gold jewellery and 70% 75% 73% 73% 74% 74% 8,175 products 8,000 Gem-set jewellery 12% 10% 11% 11% 10% 10% 6,857 Platin
Slide 14: Omni-Channel Sales as a Percentage of Total Sales - Hong Kong, Macau, Taiwan and Others
Omni-Channel Sales as a Percentage of Total Sales - Hong Kong, Macau, Taiwan and Others (HK$M) 500 10.0% 7% 5% 6% 4% 4% 400 3% 0.0% 310 300 274 228 -10.0% 154 200 135 130 -20.0% 100 156 139 98 0 -30.0% 2022 2023 2024 1H online sales 2H online sales Online sales % Omni-channel sales % 14
Slide 15: Working Capital Trends
Working Capital Trends Average inventory turnover days Average receivables turnover days (No. of Days) (No. of Days) 400 20 302 15 283 14 300 15 13 242 200 10 100 5 0 0 2022 2023 2024 2022 2023 2024 Average payables turnover days Cash conversion cycle (No. of Days) (No. of Days) 8 400 314 293 6 300
Slide 16: Other Financial Information
Other Financial Information * Long term listed investments represents HKEC shares which valued at quoted market prices # Total of interest-bearing bank borrowings and bullion loan, net of cash and cash equivalents, divided by equity attributable to owners of the Company 16
Slide 17: III. Strategies and Future Plans
III. Strategies and Future Plans 17
Slide 18: Strategy Outline
Strategy Outline ⚫ Cultivate the high-end segment ⚫ Focus our product portfolio to target specific segments ⚫ Forge ahead with omni-channel retailing which ties together online and offline sales channels 18
Slide 19: Branding – Major Store Image Uplift
Branding – Major Store Image Uplift ⚫ Committed to enhancing our brand's image by expanding our presence in high-end & signature locations. ⚫ Our strategy includes opening new stores and refreshing existing ones to create a sophisticated and modern image in these strategic locations. This approach w
Slide 20: Expand Customer Segment by Leveraging International Brand in High-End Locations
Expand Customer Segment by Leveraging International Brand in High-End Locations ⚫ MARCO BICEGO Boutique at Grand Gateway 66, Shanghai: Appeal to discerning jewellery aficionados and foster a halo effect that boosts traffic to the main brand within the same premises. ⚫ Another signature boutique will
Slide 21: Reinforce the Brand Image and Manifesto
Reinforce the Brand Image and Manifesto ⚫ Building on the momentum of our 90th Anniversary Campaign, we have relaunched our signature brand collection, “YUYU”, showcasing our excellence in craftsmanship, creativity, and brand manifesto. 2024: Chow Sang Sang 90th Anniversary Exhibition & YUYU collect
Slide 22: Elevating Sophisticated Gold Product Line-up
Elevating Sophisticated Gold Product Line-up ⚫ The Group is focusing on developing high-end gold products that command higher profitability. ⚫ Our offerings include gold jewellery set with diamonds and gold ornaments that showcase superior craftsmanship and embody Chinese culture. 22
Slide 23: Elevating Sophisticated Gem-set Jewellery
Elevating Sophisticated Gem-set Jewellery ⚫ Emphasising the importance of daily wear jewellery, we are adjusting our product assortment to include diverse materials and creative designs. This strategy aims to cater to a broader audience and set a tasteful standard for the brand, differentiating us f
Slide 24: Young Segment Acquisition
Young Segment Acquisition ⚫ Our flagship collection, Charme, has successfully captured the young market through strategic diversification of creations. ⚫ IP collaborations are a key tactic to maintain freshness and attract new consumers. 24
Slide 25: Omni-channel Strategy
Omni-channel Strategy ⚫ The Group continues to enhance our Omni-channel strategy and execution by creating seamless collaboration projects with major mall landlords, IP partners, and e-commerce marketplaces. This strategy allows us to maximise our resources while achieving a comprehensive impact. 20
Slide 26: Omni-channel Strategy (Continued)
Omni-channel Strategy (Continued) ⚫ Collaboration projects in 2025 2025: collaboration with The MIXC shopping mall, Douyin, POPMART in Shenzhen 26
Slide 27: IV. Q&A Session
IV. Q&A Session let Chow Sang Sang
Slide 28: V. Appendix
V. Appendix let Chow Sang Sang
Slide 29: Business Segments
Business Segments Chow Sang Sang Holdings International Limited Trading of Laboratory-grown Diamond Retail of Jewellery and Watches Wholesale of Precious Metals and Gemstones 29
Slide 30: Retail Store Brand Category
Retail Store Brand Category ⚫ Our mainline store brand whose stores carrying all our lines of merchandise ⚫ Our mainline store brand name in Macau and Taiwan ⚫ Devoted to offer customers a personalised and ceremonial shopping experience with our signature collections of engagement rings, wedding ban
Slide 31: Retail Store Brand Category
Retail Store Brand Category ⚫ Aims to define the new daily wear jewellery. Fusing fine materials and intricate craftmanship with avant-garde design, our fine jewellery collections embody the spirit of multifaceted beauty ⚫ An affordable daily wear brand in the Mainland that caters to the younger cus
Slide 32: Jewellery Store Network
Jewellery Store Network Heilongjiang Inner Mongolia Jilin Xinjiang Liaoning Beijing Tianjin Gansu Hebei Ningxia Shanxi Qinghai Shandong Shaanxi Henan Jiangsu Tibet Anhui Hubei Shanghai e-shop Chongqing Sichuan Zhejiang ⚫ chowsangsang.com Hunan Jiangxi ⚫ Tmall Guizhou Fujian ⚫ JD ⚫ VIP Guangdong Yunn
Slide 33: Store Network
Store Network Retail of Jewellery Chow Sang Sang 815 36 80 44 77 Maintand (MINTYGREEN 56 5 12 7 49 China [EMPHASIS 16 1 8 7 9 PROMESSA 23 0 12 12 "1 MARCO BICEGO 1 1 0 1 2 Sub-total: on 43 112 69 842 Hong _ [ShowSang Sang 48 2 Q +2 50 kong [EMPHASIS 3 0 0 0 3 PROMESSA 3 0 2 2 1 Sub-total: 54 2 2 0 5
Slide 34: Industry Analysis – Mainland China and Hong Kong
Industry Analysis – Mainland China and Hong Kong Value of retail sales of FY2024 FY2024 Hong Kong Jewellery, Watches and Clocks, and Valuable Gifts Mainland China Gold, Silver and Jewellery Sales 7.00 40.0 35.4 35.4 6.00 35.0 5.44 31.0 29.1 5.00 4.82 30.0 4.51 4.48 4.69 26.2 25.7 26.4 26.4 26.8 4.23
Slide 35: Industry Analysis – Mainland China Luxury Market Overview
Industry Analysis – Mainland China Luxury Market Overview ⚫ In 2024, the Chinese mainland luxury market experienced a significant decline of 18%–20%, reverting to 2020 levels due to low consumer confidence and increased overseas spending. ⚫ All luxury categories have underperformed, with beauty doin
Slide 36: Sustainability – 2024 Highlights
Sustainability – 2024 Highlights Establish "Chow Sang Sang Natural Science and Research Scholarship" for the Sun Yat-sen University Chow Sang Sang is the first jewellery company in Greater China to have its near-term carbon reduction targets approved by the Science Based Targets initiative (SBTi) Es
Slide 37: Sustainability – The Next Step
Sustainability – The Next Step Decarbonization in Operation Units • Decarbonization Governance and Strategic Planning via the Carbon Neutrality Task Force • Facilitating Operational Units in Developing Moving Forward Decarbonization Projects Advancing in Driving to Carbon • Enhancing Carbon Data Acc
Slide 38: Definitions
Definitions In this presentation, unless the context otherwise requires, the following terms shall have the following meanings: Company Chow Sang Sang Holdings International Limited Director(s) the director(s) of the Company FY the full year, twelve months ended 31 December Group the Company and its
Slide 39: Thank You
AES chow Sang Sang
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