Chong Fai Jewel (08537) announced its annual results ending March 31, 2024. The revenue was HKD 142 million, a growth of 4% year-on-year; net income was HKD 1.592 million, a recovery from the loss of HKD 2.17 million in the same period last year. Basic earnings per share were 2.12 HK cents.

The increase in revenue during the period was mainly due to the increase in income from the trade of recycled gold products, which increased by approximately HKD 12.7 million. This increase was partially offset by a decrease in income from diamond, K-gold, jade, pearl, and platinum jewelry products (gem-encrusted jewelry products) of approximately HKD 5.1 million, and a decrease in income from pure gold products of approximately HKD 2.1 million.