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Shenzhen-based jewelry brand designing, wholesaling and retailing gold and diamond jewelry through franchised stores across China.
Shenzhen-based jewelry brand designing, wholesaling and retailing gold and diamond jewelry through franchised stores across China.
Sells most of its jewelry wholesale to franchisees, who run the stores and pay for the stock, plus brand fees; a smaller part is sold through its own stores and online. The brand is unrelated to Chow Tai Fook or Chow Sang Sang, which are separate companies.
In one line: A Chinese Zales/Kay Jewelers, sold mostly through franchisees.
Moat: narrow (brand, distribution). Recognized jewelry brand with an extensive franchise network across lower-tier Chinese cities.
Headquarters: Shenzhen, China · Founded: 1999 · Employees: 4,297
Size Chow Tai Seng Jewelry (002867.SZ) is a China Consumer Discretionary company (Specialty Stores) with a market value of $1.88B, the 1332nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.68 on 6 Nov 2026.
Performance Over six months the shares fell 11.9%, against +22.1% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue fell 22.1% over the last twelve months (peer median +8.9%); the operating margin is 14.4% (peer median 8.7%).
Valuation It trades at 13.1× forward earnings against a peer median of 16.1× (5th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.9 points above its cost of capital (7.6% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.63B | CN¥8.70B | CN¥13.7B | CN¥16.2B | CN¥11.0B |
| Revenue growth | — | -37% | -15% | +47% | — |
| Gross profit | CN¥2.73B | CN¥2.62B | CN¥2.70B | CN¥2.81B | CN¥2.20B |
| EBITDA | n/a | CN¥1.55B | CN¥1.54B | CN¥1.84B | CN¥1.44B |
| Net income | CN¥873M | CN¥1.10B | CN¥1.01B | CN¥1.32B | CN¥1.09B |
| Free cash flow | CN¥391M | CN¥354M | CN¥1.66B | CN¥1.80B | CN¥901M |
| Capital expenditure | CN¥84.3M | CN¥110M | CN¥195M | CN¥215M | CN¥123M |
| Total debt | CN¥703M | CN¥1.05B | CN¥136M | CN¥316M | CN¥134M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Chow Tai Seng Jewelry 002867.SZ | $1.88B | -12% | -22% | 14% | 13.1× | 1.3% |
| Chow Tai Fook 1929.HK | $15.0B | +3% | +5% | 19% | 11.3× | -8.1% |
| Lao Feng Xiang 600612.SS | $2.04B | -17% | -40% | 6% | 17.2× | -16.9% |
| Shanghai Yuyuan Tourist Mart 600655.SS | $2.70B | -6% | -21% | -3% | 77.3× | 15.9% |
| Chow Sang Sang Holdings International 0116.HK | $1.13B | +7% | +16% | 20% | 3.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002867.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.6% | +9.5% | 6th highest of 21 |
| 6-month return | -11.9% | +22.1% | 4th lowest of 20 |
| Distance from 52-week high | -18.2% | -17.6% | 10th lowest of 21 |
| Revenue growth (TTM) | -22.1% | +8.9% | lowest of 21 |
| Operating margin | 14.4% | 8.7% | 4th highest of 21 |
| Forward P/E | 13.1× | 16.1× | 5th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 1.3% | 7.9% | 7th least demanding of 17 |
| Growth delivered (Del g) | +11.7% | +4.6% | 6th highest of 17 |
| Hurdle (Req g minus delivered) | -10.3 pp | -2.9 pp | 2nd least demanding of 17 |
| ROIC minus cost of capital | +6.9 pp | +2.9 pp | 9th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chow Tai Seng Jewelry 002867.SZ | China | $1.88B | -12% | -22% | 14% | 13.1× | 1.3% | +11.7% |
| Sonic Automotive SAH | United States | $1.95B | -24% | +2% | 3% | 9.3× | n/a | n/a |
| MTG 7806.T | Japan | $1.96B | +36% | +44% | 11% | 27.4× | n/a | n/a |
| North West NWC.TO | Canada | $2.02B | +17% | +1% | 8% | 17.1× | -2.8% | +1.9% |
| Beijing Caishikou Department Store 605599.SS | China | $1.71B | -23% | +37% | 4% | 13.3× | -17.2% | +32.7% |
| Sally Beauty SBH | United States | $1.71B | +31% | +1% | 9% | 8.3× | -2.6% | +1.0% |
| Super Retail SUL.AX | Australia | $2.14B | +22% | +3% | 9% | 13.8× | 6.7% | +4.0% |
| Lovisa LOV.AX | Australia | $2.18B | +32% | +18% | 18% | 27.8× | 21.9% | +26.7% |
| Honasa Consumer HONASA.NS | India | $1.61B | +32% | +21% | 10% | 52.9× | 42.5% | +39.1% |
| Lalithaa Jewellery Mart LALITHAA.NS | India | $2.21B | n/a | +48% | 6% | n/a | n/a | n/a |
| Luk Fook Holdings (International) 0590.HK | Hong Kong | $1.58B | -9% | +29% | 20% | 6.1× | n/a | n/a |
| Savers Value Village SVV | United States | $1.52B | +22% | +10% | 8% | 18.2× | 12.9% | +15.0% |
| Watches of Switzerland WOSG.L | United Kingdom | $2.34B | +43% | +11% | 10% | 14.1× | 14.5% | +15.1% |
| Pets At Home PETS.L | United Kingdom | $1.51B | +48% | -1% | 7% | 15.9× | 9.2% | +5.2% |
| POYA International 5904.TWO | Taiwan | $2.38B | +65% | +13% | 17% | 18.7× | 0.7% | +7.6% |
| Dunelm DNLM.L | United Kingdom | $2.44B | +24% | +3% | 12% | 11.7× | 2.4% | +6.4% |
| Leon's Furniture LNF.TO | Canada | $1.43B | +16% | 0% | 8% | 13.3× | -3.3% | +3.0% |
| RH RH | United States | $2.48B | -2% | +3% | 10% | 20.2× | 11.4% | +3.8% |
| National Vision EYE | United States | $1.42B | -22% | +8% | 4% | 16.3× | 15.6% | +3.0% |
| Itochu Enex 8133.T | Japan | $1.41B | +3% | +2% | 3% | n/a | -7.1% | +2.9% |
| Bob's Discount Furniture BOBS | United States | $2.54B | +42% | +17% | 9% | 20.2× | 13.4% | +4.0% |