Chow Tai Fook Jewelry Group Limited will implement a comprehensive risk management and internal control system in fiscal year 2024. The company implements an enterprise risk management (ERM) framework that is consistent with business strategy and goals. It identifies major risks including franchise management, brand reputation, product loss, compliance issues, customer privacy breaches, network threats, employee fraud and anti-money laundering compliance. Chow Tai Fook establishes a diversified risk identification channel, conducts comprehensive risk assessments, and develops risk governance models to assist the board of directors and committees in overseeing risk management. The company adopts a risk-based internal audit approach and hires independent consulting firms to strengthen audit functions. The senior management team, internal audit, and whistleblowers integrate information and...Show More

Chow Tai Fook Jewelry Group Limited will implement a comprehensive risk management and internal control system in fiscal year 2024. The company implements an enterprise risk management (ERM) framework that is consistent with business strategy and goals. It identifies major risks including franchise management, brand reputation, product loss, compliance issues, customer privacy breaches, network threats, employee fraud and anti-money laundering compliance. Chow Tai Fook establishes a diversified risk identification channel, conducts comprehensive risk assessments, and develops risk governance models to assist the board of directors and committees in overseeing risk management. The company adopts a risk-based internal audit approach and hires independent consulting firms to strengthen audit functions. The senior management team, internal audit, and whistleblowers integrate information and report to the audit committee. It also monitors emerging risks such as the development of carbon tax policies and geopolitical tensions. Chow Tai Fook has pledged to reduce greenhouse gas emission intensity by 15% by 2029 and has set a ten-year sustainable development strategy. The company maintains compliance with all applicable principles and provisions of governance codes and ensures a minimum public shareholding of 10.7% in accordance with exchange requirements. As of March 31, 2024, the market cap was approximately HKD 115.3 billion. The board of directors and audit committee confirm the effectiveness of the risk management and internal control system for fiscal year 2024.