According to the Group, the interim net profit increased by 45.6% year-on-year, benefiting from the increase in gross profit margin. However, the sharp increase in gold price also affected the demand for jewelry, resulting in a year-on-year decrease of 265,438+0.2% in sales of gold jewelry and products, and a year-on-year decrease of 65,438+04% in jewelry inlay, platinum and K-gold jewelry.
During the reporting period, Chow Tai Fook's turnover in Chinese mainland increased by 4.9% year-on-year, accounting for 86% of the Group's turnover. Same-store sales in Chinese mainland remained stable, with a slight decrease of 0.2%, which was offset by the growth in the second quarter. At the beginning of the third quarter, it also continued the level of the second quarter, recording an increase of 12%. The team performed better than expected. The retail sales of e-commerce and O2O-related businesses increased by 2 1.8%.
In Hong Kong, Macao and other markets, due to the macro-environmental challenges and the closure of major border ports, the turnover decreased by 62.9% year-on-year, and the same-store sales decreased by 65.7%. Huang, managing director of Chow Tai Fook, said that the sales in Hong Kong and Macao mainly came from local consumption in the second and third quarters, during which the year-on-year decline gradually narrowed, and it was conservatively estimated that the local market had bottomed out. He continued to point out that despite the recent signs of the fourth wave of local outbreaks, as the public gradually adapts to the new normal, cooperates with the Group to continue to strengthen promotion activities, and responds to the low base utility, it is expected that the year-end performance will remain the same as that of the same period last year.
In the first half of fiscal year 20021,Chow Tai Fook Jewellery had 286 retail stores in China, and the group aims to open 450 to 500 stores this fiscal year. Hong Kong and Macao closed five retail stores, mainly in tourist areas. The group said that due to a rent reduction agreement with the owners, it is expected that five retail stores will be closed this fiscal year, which is slower than the planned closure of 65,438+00 to 65,438+05 stores at the beginning of the year. In other markets, two retail stores were closed. Chow Tai Fook said that in order to improve the store productivity, the Group will continue to integrate the retail network in Hong Kong and Macao, and will continue to explore opportunities in the Southeast Asian market. When the international tourism industry recovers, it can continue to push forward its expansion strategy.