Chow Tai Fook Jewellery Group Limited ("Chow Tai Fook" or the "Company"; collectively with its subsidiaries, the "Group"; SEHK stock code: 1929), a Hong Kong Main Board listed company with 87 years of heritage, is pleased to announce that the Group has won the "Best New Entry" in the general category at the 2016 Best Annual Reports Awards competition held by the Hong Kong Management Association ("HKMA"). The Group participated in the competition for the first time and was rated the highest among new entries.

Chow Tai Fook Finance Director and Company Secretary, Hamilton Cheng, remarked, "We are delighted to receive the recognition from HKMA. We have been continuously enhancing our annual reports aiming to provide our stakeholders with transparent information. We started using an integrated approach to provide a holistic view of our performance to our readers."

The Group's FY2016 annual report marks a new step towards a more strategic focused, key performance indicator ("KPI") driven and visualised presentation, while a standalone corporate social responsibility report was also firstly published in the same financial year. Themed with "Smart +" and "innovation", its FY2016 annual report was enhanced to present a more comprehensive and concise account of the Group's performance and management's strategic initiatives on both financial and non-financial aspects. For example, major risk factors and control measures, in tandem with major social and environmental initiatives were illustrated, an exceptional practice in the annual reports of most Hong Kong listed companies, to facilitate a balanced assessment on the Group.

The Group's Managing Director, Kent Wong, said, "Transparency, accountability and integrity are key to our corporate governance practices."

The HKMA Best Annual Reports Awards competition has been held annually since 1973. With a panel of adjudicators comprising cross-discipline professionals in the fields of accounting and finance, academics and design, it aims to encourage the publication of timely, accurate, informative and well-presented annual reports for stakeholders, and to recognise and honour companies and organisations for their achievement in producing such reports. Judging criteria of the annual reports in the general category include compliance with accounting standards, conformity with the disclosure requirements of the Hong Kong Stock Exchange and Hong Kong Companies Ordinance, general presentation, understandability, provision of summary of past results and highlights, level of details in management discussion and analysis, indications of prospects, reporting of corporate social responsibility information and promptness of reporting.