Chow Tai Fook Jewellery Group Announces Departure of Mr. Chan Sai-Cheong
06 Mar 2023

Chow Tai Fook Jewellery Group Limited ("Chow Tai Fook Jewellery Group", the "Group" or the "Company"; SEHK stock code: 1929), a Hong Kong Main Board listed company, has announced that one of its Managing Directors, Mr. Chan Sai-Cheong, will be stepping down from his position as Managing Director, Mainland China on 31 March 2023.

Mr. Chan joined the Group in 1985, playing an integral role in Chow Tai Fook Jewellery Group’s growth and helping to deliver enhancements in overall operations as the Group forged its way in the Mainland China market.

Mr. Wong Siu-Kee, Kent, who joined the Group in 1977, will expand his current role to oversee and drive Mainland China’s growth and strategy. Mr. Wong is a respected leader with extensive experience in the retail industry and is currently a member of the Group’s Strategy and Transformation Committee. A transition plan is in place to ensure seamless continuity and business growth. He will play a pivotal role in helping to drive earnings quality.

Chow Tai Fook Jewellery Group’s mid-term goals remain unchanged as it continues to galvanize around its five strategic priorities[1] to strengthen long-term competitiveness and improve earnings quality.

Mr. Chan, said, “I am truly heartened by where the Group sits right now. I have no doubt that
Chow Tai Fook Jewellery Group will maintain its enviable position as an industry leader, reaching new heights by doubling down on its strategic priorities and upholding its outstanding record of pioneering innovation and craftsmanship. I wish to thank the team for this incredible journey. The last 38 years has been nothing short of spectacular - being a part of a brand that has experienced such meteoric success has been a privilege and an experience that I will always be proud of.”

Dr. Henry Cheng, Chairman of the Board of Directors, said, “Cheong has been a wonderful colleague and friend all these years and we sincerely thank him for his tireless dedication, outstanding leadership and contributions to the company and helping to drive business in Mainland China. Cheong has developed and led a committed team and I thank him for leaving Chow Tai Fook Jewellery in a solid position as we are poised for future growth. Our transformation journey will further elevate our brand, driving quality growth and operational resilience.”

[1] The five strategic priorities include (1) Elevating brand positioning to attract new and younger customers; (2) Optimising product portfolio while reducing inventory levels and turnover days; (3) Enhancing operational efficiency to optimise competitiveness and effectiveness; (4) Nurturing a people-first workplace culture and strengthening talent development; (5) Building a data-driven culture, accelerating the use of digital technology and data analysis to support the business.