Formation of JV Enterprise with an Industry Pioneer Mr. Chan Sai Cheong to Expand the Jewellery Business in Mainland China
Apr 3, 2025
(Hong Kong, 3 April 2025) Emperor Watch & Jewellery Limited (“Group” or “Emperor W&J”) (Stock code: 887) today announced that its subsidiary, Emperor Jewellery (China) Limited (“Emperor China”), has formed the JV Enterprise (“JV Enterprise”) with Zhangjiajie Free Trade Zone Xiaoduocai Investment Management Limited (“Xiaoduocai”), a company owned by Mr. Chan Sai Cheong who is a pioneer in the jewellery industry, with an initial commitment of RMB346 million (equivalent to approximately HK$370 million), in order to strengthen its strategic presence and develop the “Emperor Jewellery” brand in Mainland China in collaborative efforts. Through the JV Enterprise, the Group expects to incorporate new ideas, strengthen product research and development, and accelerate the expansion of its retail footprint in Mainland China.
Through the strategic cooperation, the Group invited Mr. Chan Sai Cheong, an influential and highly respected figure in the jewellery industry, to be the Vice Chairman and General Manager of the JV Enterprise. Mr. Chan served as an executive director of Chow Tai Fook Jewellery Group Limited during 2011 to 2023, possessing over 40 years of management experience in the jewellery industry. He has accumulated a wealth of expertise covering the entire industry chain, from upstream operations including gold jewelry mounting, jewelry processing, and quality control, to downstream operations covering brand management, marketing and promotion, store distribution, and back-end business management systems, accumulating comprehensive industry knowledge and expertise. Under his leadership, the abovementioned enterprise’s retail network in Mainland China expanded significantly to over 7,000 stores in 2023.
The Group believes that the formation of the JV Enterprise will combine the strength of the “Emperor Jewellery” brand with Mr. Chan’s extensive expertise in the industry, thereby greatly enhances the strength and influence of the “Emperor Jewellery” brand in Mainland China. The JV Enterprise will strive to expand the Group’s retail network in Mainland China this year. In the meantime, the Group will strengthen product research and development, introduce innovative technologies and develop popular IP products, as well as enhance customer experience by reinforcing local talent training. The Group will fully integrate its sales strategies to promote the linkage of brand between Mainland China and Hong Kong. Subsequent to the formation of the JV Enterprise, the Group’s jewellery business in Mainland China will be entirely operated through the JV Enterprise; Mr. Chan Sai Cheong has also indicated that he will fully devote to the work of the JV Enterprise, and will not invest in any businesses other than the JV Enterprise in the same industry.
Ms. Cindy Yeung, Chairperson of Emperor W&J, said, “The strategic partnership with Mr. Chan represents a valuable opportunity for the Group to expand its jewellery business in Mainland China. Mr. Chan has been deeply engaged in the Mainland China market for many years, we believe his management experience of over 40 years in the jewellery industry, abundant market resources accumulated and broad network of connections will complement the strength of Emperor W&J which is mutually beneficial.”
Mr. Chan Sai Cheong, Vice Chairman and General Manager of the JV Enterprise, said, “I am delighted to establish a long-term strategic partnership with Emperor W&J, which has a brand history of more than 80 years. Leveraging the strong brand recognition and my years of management experience in the industry, I truly believe that I will be able to establish and expand the roots of this heritage brand in Mainland China.”
The JV Enterprise are 51% and 49% owned by Emperor China and Xiaoduocai respectively; the same ratio will be applied for dividend distribution and profit sharing. The board of directors of the JV Enterprise will consist of five directors, among whom three will be nominated by Emperor China and two will be nominated by Xiaoduocai.
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About Emperor Watch & Jewellery Limited
With long establishment history of over 80 years in Hong Kong since 1942, Emperor W&J (887.HK) is a leading retailer principally engages in the sale of European-made internationally renowned watches, and jewellery products under its own brand, “Emperor Jewellery”. Through its comprehensive watch dealership, unique marketing campaigns and extensive retail network at prime locations in Hong Kong, Macau, Mainland China, Singapore and Malaysia, Emperor W&J established a strong brand image amongst its target customers ranging from middle to high income groups worldwide. In recognition of its efforts in investor relations communications, Emperor W&J was granted with “Best IR Company” (Small Cap) and “Best Investor Presentation Material” (Small cap) in HKIRA Investor Relations Awards 2024 by the Hong Kong Investor Relations Association. For more information, please visit its website: www.EmperorWatchJewellery.com.
About Mr. Chan Sai Cheong
Mr. Chan plays a pivotal position in the jewellery industry and currently holds positions in various industry associations and committees at national, provincial, and municipal levels in China, including a senior advisor to the Gems & Jewelry Trade Association of China, a member of the National Technical Committee on Jewellery and Jade Standardization Administration of China, a standing council member of the China Gold Association, executive vice president of the Guangdong Gold and Silver Jewelry Association, vice president of the Shenzhen Gold Jewelry Association, executive vice president of the Gold Association of Guangdong Province, and vice chairman of the Guangdong Gold, Silver, Jewellery and Jade Manufacturers Association. He is also a member of the Twelfth Liaoning Provincial Committee of the Chinese People’s Political Consultative Conference. Additionally, he serves as a director and visiting professor at the Gemological Institute of China University of Geosciences (Wuhan).
Investor/Media Enquiries
Anna Luk Janice Au
Group Investor Relations Director Group Investor Relations Manager
Tel: +852 2835 6783 Tel: +852 2835 6799
Email: annaluk@emperorgroup.com Email: janiceau@emperorgroup.com
