According to Zhitong Finance App, Chow Shengsheng (00116) announced the interim results for the six months ended June 30, 2023. The group achieved continuing business turnover of HK$12.998 billion, an increase of 28.81% over the previous year; profit attributable to company owners was HK$827 million, an increase of 75.34% over the previous year; profit from continuing operations was HK$122.4 million per share, with an interim dividend of HK$20 per share.

With the end of pandemic-related restrictions in mainland China, Hong Kong, and Macau, China, the Group's total jewellery and watch sales for the first half of 2023 increased 31% year-on-year. Turnover in Hong Kong, China and Macau, China increased by 59%, and in mainland China increased by 22%, mainly due to strong demand for gold jewellery.

There was a net increase of 39 stores in the Group's retail network in the first half of 2023.

Compared with the first half of 2022, gold products account for a relatively large share of the company's sales portfolio, and the price of gold is also generally high. Combining these effects, the company's overall gross margin fell 0.5 percentage points from 28.5% to 28%.