New Stock News | Guangdong CHJ Industry (002345.SZ) has once again submitted documents to the Hong Kong Stock Exchange, with a total of 1670 offline jewelry stores worldwide.

According to the disclosure of the Hong Kong Stock Exchange on April 2, Guangdong CHJ Industry Co., Ltd. (referred to as Guangdong CHJ Industry (002345.SZ)) has resubmitted its application for listing on the Main Board of the Hong Kong Stock Exchange, with CITIC SEC as its exclusive sponsor. The company had previously submitted its application to the Hong Kong Stock Exchange on September 12, 2025. Company Profile The prospectus shows that Guangdong CHJ Industry is a Chinese multi-brand jewelry company founded in 1996, with its flagship jewelry brand CHJ Guangdong CHJ Industry as the cornerstone of its business. The company has two main businesses: jewelry and handbags. For each business, the company adopts a similar operating model, including product development and design, procurement, production, and sales through franchise stores and self-operated stores. According to Frost & Sullivan data, in the fashion jewelry market, the company ranked first among various jewelry companies in mainland China in terms of revenue in 2024, achieving a market share of 1.4%. The company ranked ninth among national jewelry companies, with a market share of 0.8%; based on revenue in the classic gold jewelry market, the company ranked eighth among mainland Chinese jewelry companies, with a market share of 0.6%. During the previous years, the jewelry business has always been the core business of the company, accounting for approximately 90% of the total revenue. As a complement to jewelry products, the company acquired FION Fenney in 2014, a brand that offers fashionable handbag products targeting young consumers. As of December 31, 2025, the company has a total of 1,670 offline jewelry stores in China and overseas, including 183 self-operated jewelry stores and 1,476 franchise jewelry stores in over 200 cities across the country, with most located in first-tier, new first-tier, and second-tier cities. In addition, the company has eleven overseas stores, including one self-operated store in Malaysia, one franchise store in Singapore, two franchise stores in Malaysia, four franchise stores in Thailand, and three franchise stores in Cambodia. The company's main suppliers are gold suppliers and commercial banks that provide gold loans to the company. During the previous years, the company's top five suppliers accounted for approximately 77.9%, 83.0%, and 75.8% of the company's annual procurement amount, with the largest supplier accounting for approximately 61.6%, 65.3%, and 55.4% of the annual procurement amount. In terms of jewelry production capacity, the company established the Pujiang production base in 2011, with a total area of approximately 14,439.7 square meters. In the fiscal years of 2023, 2024, and 2025, the production capacity utilization rate of the Pujiang production base was 113.9%, 110.9%, and 140.6% respectively. Financial Information Revenue In 2023, 2024, and 2025, the company's revenue was approximately RMB 5.836 billion, RMB 6.452 billion, and RMB 9.238 billion respectively. Profit In 2023, 2024, and 2025, the company's annual profits were approximately RMB 330 million, RMB 169 million, and RMB 472 million respectively. Gross Profit Margin In 2023, 2024, and 2025, the company's gross profit margins were 25.3%, 22.6%, and 21.3% respectively. Industry Overview Jewelry refers to decorative items mainly made of precious metals and gemstones, widely used for weddings, gifts, and fashion styling, and can be categorized into gold jewelry and fashion jewelry based on materials. From 2020 to 2024, the market size of the mainland Chinese jewelry market increased from RMB 610 billion to RMB 728 billion, with a compound annual growth rate of 4.5%. It is expected that by 2029, the jewelry market size will reach RMB 937 billion, with a compound annual growth rate increasing to 5.2% from 2024 to 2029. Classic Gold Jewelry Market The market size of the mainland Chinese classic gold jewelry market has grown, from RMB 325.2 billion in 2020 to RMB 524.2 billion in 2024, with a compound annual growth rate of 12.7%. From 2024 to 2029, it is expected that the market size of classic gold jewelry will continue to expand steadily, with an expected compound annual growth rate of 5.7%, reaching RMB 692 billion by 2029. Fashion Jewelry Market The market size of the mainland Chinese fashion jewelry market decreased from RMB 284.8 billion in 2020 to RMB 203.8 billion in 2024, with a negative compound annual growth rate of 8.0%. This decline is partly due to the surge in gold prices, which has increased the relative attractiveness and investment appeal of classic gold jewelry, and the sharp decline in demand for diamond jewelry, further intensifying competitive pressures in the fashion jewelry segment. In China, diamonds are mainly purchased for wedding purposes, and the decline in the number of marriage registrations reduces the demand driven by weddings. At the same time, the rapid popularization of lab-grown diamonds has reshaped people's perception of the scarcity of diamonds, further suppressing the purchase of natural diamonds. Starting from 2024, the market size is expected to slightly rebound, reaching RMB 245 billion by 2029, with an expected compound annual growth rate of 3.7%. The market for China National Gold Group Gold Jewelry strand bracelets increased from RMB 16.8 billion in 2020 to RMB 22 billion in 2024, with a compound annual growth rate of 6.9%, mainly benefiting from the increasing purchasing power of young consumers and the rising demand for personalized and symbolic accessories. It is expected that by 2029, the market size will continue to grow to RMB 31.1 billion, with a compound annual growth rate of 7.2% from 2024 to 2029. Competition Landscape Board of Directors Information The board of directors of the company consists of 11 directors, including 4 executive directors, 3 non-executive directors, and 4 independent non-executive directors. The term of office for directors is 3 years, and they may be re-elected upon the expiration of their term, with independent non-executive directors not allowed to serve for more than 6 years. Ownership Structure As of March 24, 2026, a concert party collectively owns approximately 31.67% of the company's issued share capital. Shantou Chaohongji Investment holds equity in the company's issued share capital of approximately 28.55%, with Mr. Liao Muzhi, Mr. Lin Junping, and Mr. Liao Chuangbin ultimately owning approximately 51.5996%, 9.1653%, and 8.2042% respectively. The aforementioned individuals are part of the concert party. In addition, Mr. Liao Chuangbin, Mr. Liao Muzhi, and Mr. Lin Junping individually hold approximately 3.04%, 0.07%, and 0.01% of the equity in the company's issued share capital respectively. Mr. Liao Muzhi is the father of Mr. Liao Chuangbin and the father-in-law of Mr. Lin Junping. Mr. Zhong Mutian has not entered into any concerted action arrangements with the concert party and has no family relationship with them. Mr. Liao Chuangbin, Mr. Lin Junping, and Mr. Liao Chuangbin (the concert party) are aware of and acknowledge their concerted actions in the management and operation of the group. Intermediary Team Exclusive Sponsor: CITIC SEC (Hong Kong) Limited Legal Adviser: Regarding Hong Kong Law: King & Wood Mallesons; Regarding the Hong Kong subsidiary's Hong Kong law: Kwoh Chee Chan LLP; Regarding Chinese law: King & Wood Mallesons; Regarding Singapore law: Virtus Law LLP; Regarding Malaysian law: Chooi & Company Advocates & Solictors Legal Advisor to Exclusive Sponsor: Regarding Hong Kong law: Orrick Herrington & Sutcliffe LLP; Regarding Chinese law: Zhong Lun Law Firm Reporting Accountant and Independent Auditor: Ernst & Young Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Advisor: Creation Securities Financing Limited