The group expects that in the second half of the 2024 fiscal year and for the full year, the business in the Greater China market is projected to achieve revenue growth and a slight increase in profit.

In the fourth quarter of fiscal year 2024, Chow Tai Fook’s overall retail value increased by 12.4% year-on-year, with growth rates of 29.4%, 5.8%, and 46.1% in the preceding three quarters, respectively.

Currently, within the Saint Angelo Group, there are already three brands with a revenue scale exceeding 1 billion.

Hainan remains the operational core of China Duty Free Group (CDFG). Revenue from the Hainan region increased by 14.3% year-on-year to 39.65 billion RMB, contributing 58.7% to the company’s total revenue.

In 2024, the group plans to open approximately 16 new shopping centers in Beijing, Shenzhen, Nanjing, Xi’an, Changsha, Zhengzhou, and other locations. It is estimated that by the end of 2027, the number of operational shopping centers will increase to 117.

The net revenue growth in the mainland China market increased by 56%, or 60% when calculated at a fixed USD exchange rate.

One thing is clear: On is not a luxury fashion brand, but a high-end athletic brand.

The Group’s pattern of “deep plowing in China” and “going overseas” has been taken into account.

Bjørn Gulden said, “Compared to 12 months ago, we feel much more confident about the Chinese market,” adding that China’s growth potential is “far higher than” the growth achieved in the full year of 2023.

Li Ning responded, “For investors, I will consider any plan that can increase investor returns.”