(Hong Kong, 24 October 2016) 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.
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Chow Tai Fook Jewellery Group Limited
Chow Tai Fook Jewellery Group Limited (Stock Code: 1929) was listed on the Main Board of The Stock Exchange of Hong Kong in December 2011.
The iconic brand “Chow Tai Fook” of the Group has been widely recognised for its trustworthiness and authenticity, and renowned for product design, quality and value. The acquisition of Hearts On Fire, an internationally acclaimed U.S. premium diamond brand, in August 2014 has further underpinned the Group’s stature as a diamond expert in the industry.
The Group boasts an extensive retail network comprising over 2,300 Chow Tai Fook and Hearts On Fire stores spanning more than 500 cities in Greater China, Singapore, Malaysia, Korea and the United States, as well as a strong and fast growing e-tail network through operating its Chow Tai Fook e-Shops and various e-tail accounts on other online shopping platforms.
The Group’s sophisticated vertically integrated business model provides it with an effective and tight control over the entire operation chain from raw material procurement, design, production, to marketing and sales through its extensive POS and e-tail channels.
Chow Tai Fook Jewellery Group Limited
Director, Investor Relations and
Tel: (852) 2138 8501
Corporate Communications Manager, Investor Relations and
Tel: (852) 2138 8337
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