Chow Tai Fook

Chow Tai Fook Enterprises Limited
周大福企業有限公司
Private company limited by shares
Industry Conglomerate
Founded 10 August 1966 (1966-08-10)
Founder Chow Chi Yuen
Headquarters Hong Kong
Area served
 mainland China, Hong Kong, Japan, Macau, Malaysia, Singapore, South Korea, Taiwan, United States[1]
Key people
 Honorary chairman: Cheng Yu-tung
Chairman: Henry Cheng
Owner Cheng Yu-tung family
Subsidiaries New World Development
Website Chow Tai Fook Jewellery
Chow Tai Fook Jewellery Group
Chow Tai Fook
Traditional Chinese 周大福企業有限公司
Simplified Chinese 周大福企业有限公司

Chow Tai Fook Enterprises Ltd. (Chinese: 周大福企業有限公司) is a Hong Kong conglomerate company engaged in the property development, hotel, casino, transportation, jewellery, port and telecommunications businesses. It is ultimately owned by Cheng Yu-tung's Family.

Subsidiaries and affiliates

Chow Tai Fook Enterprises Limited is the major shareholder of a number of listed companies, including New World Development Co. Ltd. (新世界發展有限公司) (HKSE: 0017) and NWS Holdings Limited (新創建集團有限公司) (HKSE: 0659). Chow Tai Fook Jewellery Group Limited (周大福珠寶集團有限公司), an affiliate of Chow Tai Fook Enterprises Ltd., is also a listed company. (HKSE: 1929).[2]

New World Development

New World Development is one of the leading property developers based in Hong Kong. It has been listed on the Stock Exchange of Hong Kong since 23 November 1972.[3] It owns the Marina hotel property in Manila, the Philippines.

NWS Holdings

Chow Tai Fook Enterprises Limited and NWS Holdings jointly own Citybus Limited & New World First Bus Services Limited., two of the major bus service providers in Hong Kong.[4]

Chow Tai Fook Jewellery

Shop of Chow Tai Fook Jewellery on Queen's Road Central, Hong Kong

Chow Tai Fook Jewellery is a jewellery retailer founded by Chow Chi Yuen. His son-in-law Cheng Yu-tung took over the business in 1956 and their family ultimately owns the business. The brand is popular in the Chinese-speaking world. The store has retail outlets in several countries, including over 2,000 retail outlets in mainland China.

By September 2010, there were 1,000 chain stores in mainland China (including franchisees and its own outlets, and the Chow Tai Fook Jewellery set up its objective of opening 2,000 chain stores in mainland China by the year of 2020. Chow Tai Fook Jewellery, plays a leading role in its market segment for a long time since it foundation, esp. from 1997. For 5 continuous years since 2005, it held the No.1 position of market share in its market segment[5]

In 2010, Chow Tai Fook Jewellery purchased a 507-carat diamond for $35.3 million, setting a new record for the highest price paid for a rough diamond.[6]

On 15 December 2011, Chow Tai Fook Jewellery became listed on the Stock Exchange of Hong Kong at a price of HKD 15 per share under the stock code 1929.HK.

On 3 April 2017 the company acquired the Pink Star diamond at an auction in Hong Kong for USD 71.2 m (553 million Hong Kong dollars including fees).[7]

On 23 May 2018, The Gemological Institute of America (GIA) partnered with Chow Tai Fook on a pilot program that will use blockchain to deliver digital diamond-grading reports.[8]

See also

References

  1. ↑ "Retail Network". Chow Tai Fook. Retrieved 2018-07-04.
  2. ↑ "- Free Real Time Stock Quote- HK Stock- ET Net". etnet.com.hk. Retrieved 4 November 2016.
  3. ↑ "- Free Real Time Stock Quote- HK Stock- ET Net". etnet.com.hk. Retrieved 4 November 2016.
  4. ↑ "Citybus & NWFB – Members of Chow Tai Fook Enterprises and NWS Holdings – Company Structure". nwstbus.com.hk. Retrieved 4 November 2016.
  5. ↑ "Apps – Access My Library – Gale". accessmylibrary.com. Retrieved 4 November 2016.
  6. ↑ http://www.mineweb.com/mineweb/content/en/mineweb-diamonds-and-gems?oid=99706&sn=Detail
  7. ↑ Sheppard, David. "'Pink Star' diamond dazzles at Sotheby's auction, selling for record $71m". Financial Times. Retrieved 4 April 2017.
  8. ↑ "Diamonds.net – GIA, Chow Tai Fook Launch Blockchain Pilot". 23 May 2018. Retrieved 30 May 2018.
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