(Hong Kong, 14 December 2016) Chow Tai Fook Jewellery Group Limited ("Chow Tai Fook" or the "Company"; collectively with its subsidiaries, the "Group"; SEHK stock code: 1929), a Hong Kong Main Board listed company with over 87 years of heritage, proudly announces that the Group has won two accolades in innovation and technology, namely the "Productivity and Quality Grand Award" at 2016 Hong Kong Awards for Industries ("HKAI") and the Merit prize in Retail and Supply Chain Management at Asia Pacific ICT Alliance Awards 2016 ("APICTA Awards"), respectively.
The award presentation ceremony for the HKAI, championed by the HKSAR Government, was held on 13 December 2016 in Hong Kong. Chow Tai Fook Managing Director, Kent Wong, received the Grand Award in the category of Productivity and Quality for two entries, namely the Automated Logistics and Distribution Centre ("the Centre") located in Shunde and the ICS (Inventory Control System) RFID-Technology Deployment Project.
Chow Tai Fook also received the Merit prize in Retail and Supply Chain Management at the APICTA Awards in Taipei, Taiwan for the Centre. The APICTA Awards is a prestigious international ICT competition that is open for entry from winners of similar award programmes in 16 member-economies. This year, the winners were selected among 236 entries and judged by 66 technical professionals.
Chow Tai Fook Managing Director, Kent Wong, said, "We are very delighted to garner two accolades in recognition of our relentless effort in developing and applying innovation and technology in the jewellery industry. Chow Tai Fook is a pioneer and role model in many ways such as enhancing industry practices and bringing innovation. Our investment in innovation and technology is not only vital to the sustainable development of Chow Tai Fook, but also to the betterment of the whole jewellery industry."
The Centre supports inventory replenishment for the Group's POS in Mainland China. Equipped with the Automated Storage and Retrieval System and RFID-enabled devices, the Centre extensively deploys item-level RFID scanning technology which substantially enhances the traceability of products.
"The Centre not only enables efficient inventory control and accurate tracking of stock movement, but also facilitates automated distribution. Processes like storage and shelving, sorting, packing and delivery are streamlined through this automation, and real time surveillance becomes possible which greatly enhances our precision in management," said Patrick Tsang, Deputy General Manager of the Group and Head of Information & Communication Centre.
The other awarded project, the ICS RFID-Technology Deployment Project, is applied in logistics management, stock-taking and sales operations. It utilises mHands to detect products attached with RFID tags, lessening the time for stock take for front-line staff. While serving the customers, our staff can also use the patented Smart Trays to access product information promptly and collect customer preference data for further analysis via the Group's self-developed Business Intelligence System. In terms of logistics management enhancement, product distribution to POS can now be streamlined through the use of Logistics Trays, in which logistics throughput and efficiency are further enhanced.
About the awards
Hong Kong Awards for Industries "HKAI"
The HKAI is championed by the HKSAR Government. It was launched in 2005 by merging the former Hong Kong Awards for Industry and the former Hong Kong Awards for Services, established in 1989 and 1997 respectively. The HKAI aims to recognise the outstanding achievements of Hong Kong enterprises in pursuit of high technology and high value-added activities, and to commend excellence in various aspects of their performance.
Asia Pacific ICT Alliance Awards "APICTA Awards"
Founded in 2001 by Multimedia Development Corporation in Malaysia, APICTA Awards is an annual flagship event in the Asia Pacific region's ICT industry. It is an international awards programme which aims to recognise organisations and individuals in the Asia Pacific region who contribute profoundly to the ICT industry, increase ICT awareness in the community, stimulate ICT innovation, offer opportunities for business matching between IT innovators and investors, and facilitate technology transfer and application. (www.apicta.org)
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Chow Tai Fook Jewellery Group Limited
Chow Tai Fook Jewellery Group Limited (Stock Code: 1929) was listed on the Main Board of The Stock Exchange of Hong Kong in December 2011.
The iconic brand "Chow Tai Fook" of the Group has been widely recognised for its trustworthiness and authenticity, and renowned for product design, quality and value. The acquisition of Hearts On Fire, an internationally acclaimed U.S. premium diamond brand, in August 2014 has further underpinned the Group's stature as a diamond expert in the industry.
The Group boasts an extensive retail network comprising over 2,300 Chow Tai Fook and Hearts On Fire stores spanning more than 500 cities in Greater China, Singapore, Malaysia, Korea and the United States, as well as a strong and fast growing e-tail network through operating its Chow Tai Fook e-Shops and various e-tail accounts on other online shopping platforms.
The Group's sophisticated vertically integrated business model provides it with an effective and tight control over the entire operation chain from raw material procurement, design, production, to marketing and sales through its extensive POS and e-tail channels.
Chow Tai Fook Jewellery Group Limited
Director, Investor Relations and
Tel: (852) 2138 8501