Hang Fung Gold declares 263.5% growth in profit

11 Jul '08

4 min read

The Group sees its 3D-GOLD brand retailing business shall gradually become the main driving force for its business growth.

The Group was authorized by the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG) as one of two licensed Hong Kong manufacturers and distributors of Beijing 2008 Olympic-themed jewellery products. It is not only a testimony to the Group's competitive strengths but also helps to enhance our brand awareness.

Business Outlook:
Looking forward, the Group believes that the retail market momentum in both Hong Kong and China will continue to fuel the Group's retail business.

To capture the huge business opportunities in the market of Mainland China, the Group will continue to strengthen its presence in Mainland China's retail sector with a focus in Bohai Region, Yangtze River Delta Region and Pan-Pearl River Delta Region, and will further expand its nationwide network by franchising arrangements.

Leveraging on the Group's strong market position and its unique edge in exquisite designs and innovative technology, the Group also believes that its wholesales and export business will continue to be stable and will become a long term growth driver to its business.

Commenting on the Group's future strategy, Dr. Lam concluded, "We believe the market momentum in both Mainland China and Hong Kong will remain strong in the coming year.

Besides continuous implementation of various management initiatives, such as recruiting and nurturing talents, launching innovative products, enhancing sales services and the quality of the management, as well as enforcing our marketing efforts in order to enhance our sales growth and efficiency, we will also pursue an aggressive expansion strategy to foster the Group's market penetration in Mainland China to capture the huge business opportunities, and ultimately bring satisfactory returns to our shareholders."

Hang Fung Gold Technology Limited