中国珠宝行业市场前景及投资研究报告-培训课件外文版2024.5深圳水贝周大福金六福

INDUSTRIES

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MARKETSJewelrymarketinChinaCHAPTER

01OverviewRevenueofthejewelryindustryWorldwide2017-2026(inbillionU.S.dollars)RevenueofthejewelryindustryWorldwide2017-2026450418.9405.11390.69400374.13354.46348.21340.58342.52335.7135030025020015010050307.69020172018201920202021202220232024202520263Description:Theglobalrevenueinthewatches&jewelrysegmentoftheaccessoriesmarketwasforecasttocontinuouslyincreasebetween2023and2026byintotal44.8billionU.S.dollars(+11.97percent).Therevenueisestimatedtoamountto418.9billionU.S.dollarsin2026.Findfurtherinformationconcerningtherevenueinthewatches&jewelrysegmentoftheaccessoriesmarketbylookingatothercountries,suchasThailandandPoland.ReadmoreNote(s):Worldwide;2017to2026Source(s):ConsumerMarketInsightsMarketvalueofluxurywatchesandjewelryworldwidein2022(inbillioneuros)Sizeoftheluxurywatchesandjewelrymarketworldwide202260525040302010280LuxurywatchLuxuryJewerly4Description:In2022,theluxurywatchesmarketwasvaluedataround52billioneuros.Thiswassignificantlymorethanthevalueoftheluxuryjewelrymarketthatyear,whichamountedto28billioneurosworldwide.ReadmoreNote(s):Worldwide;2022Source(s):Bain&CompanyLeadingcountriesinthewatchesandjewelrymarketin2022,byrevenue(inmillionU.S.dollars)Worldwidewatch&jewelrymarketrevenuebycountry2022RevenueinmillionU.S.dollars30,000

40,000

50,000010,00020,00060,00070,00080,00081,189.390,000ChinaIndia72,597.42UnitedStatesJapan66,555.2715,359.23UnitedKingdomSouthKoreaFrance6,149.065,529.965,076.374,995.314,835.193,831.56GermanyItalyRussia5Description:Fromtheselectedregions,therankingbyrevenueinthe'Watches&Jewelry'segmentoftheaccessoriesmarketisleadbyChinawith81.2billionU.S.dollarsandisfollowedbyIndia(72.6billionU.S.dollars).Incontrast,therankingistrailedbyRussiawith3.8billionU.S.dollars,recordingadifferenceof77.4billionU.S.dollarstoChina.ReadmoreNote(s):Worldwide;Jan1sttoDec31st2022Source(s):ConsumerMarketInsightsMarketvalueofdiamondjewelryworldwidein2022,bycountry(inbillionU.S.dollars)Globaldiamondjewelrymarketvalue2022,bycountry605040302010047.717.28.854.73.1UnitedStatesChinaIndiaJapanGulf*Restofworld6Description:In2022,thevalueoftheUnitedStates'diamondjewelrymarketwasalmost48billionU.S.dollars.TheU.S.wasbyfartheworld'slargestdiamondjewelrymarketbasedonvalueatthattime,withChinainadistantsecondplaceatlessthanninebillionU.S.dollars.ReadmoreNote(s):Worldwide;2022;*GulfincludesSaudiArabia,UnitedArabEmirates,Oman,Qatar,Kuwait,andBahrain.ReadmoreSource(s):DeBeersLeadingjewelryexportersworldwidein2021,bycountry(inbillionU.S.dollars)Valueofjewelryexportsworldwidein2021,bycountryExportvalueinbillionU.S.dollars60248101214ChinaSwitzerlandIndia12.4811.4210.55HongKongItaly9.288.92UnitedStatesTurkey7.256.81France5.16UnitedArabEmiratesThailand3.783.357/statistics/1007597/leading-jewelry-exporters-worldwideThisstatisticshowsthevalueofjewelryexportsfromtheleadingcountriesworldwidein2021.In2021,Switzerlandexportedapproximately11.4billionU.S.dollarsofjewelryaroundtheworld,whichwasslightlylessthantop-placedUnitedStates.

ReadmoreNote(s):Worldwide;2021Source(s):CIA;WTExJewelrymarketsizeinChinafrom2011to2022withestimatesuntil2027(inbillionyuan)JewelrymarketsizeinChina2011-20271,2001,0008001,01098094090085081073070070065064061061056056060040020004503802011201220132014201520162017201820192020202120222023*

2024*

2025*

2026*

2027*8Description:In2022,thejewelrymarketinChinareachedapproximately810billionyuan,increasingfromaround730billionyuaninthepreviousyear.Thatyear,China'sjewelrymarketrecoveredfromtheimpactsofcoronaviruspandemic.

ReadmoreNote(s):China;2011to2022Source(s):Euromonitor;estimates;WanlianSecuritiesCHAPTER

02InternationaltradeValueofpreciousmetalsandjewelryproductsimportedtoChinafrom2014to2022(inbillionU.S.dollars)JewelryimportvaluetoChina2014-2022120103.796.810080604020079.978.177.465.360.341.931.820142015201620172018201920202021202210/statistics/1303932/china-import-value-of-jewelry-productsIn2022,Chinaimportedapproximately103.7billionU.S.dollarsworthofjewelryproducts,indicatingamorethan30percentincreasecomparedto2021.Inthesameyear,Chinaexportedaround30.1billionU.S.dollarsworthofjewelryproducts.

ReadmoreNote(s):China;2014to2022Source(s):ChinaJewelryAssociation;Website()ImportvalueofleadingjewelryproductsinChinain2021,byproducttype(inbillionU.S.dollars)ImportvalueofleadingjewelryproductsinChina2021ImportvalueinbillionU.S.dollars15

20

250510303540455047.28GoldPlatinum10.019.89DiamondInlayjewelry5.73Silver1.711.51Preciousandsemi-preciousstoneOthers0.630.36ImitationjewelleryArtificialgem

0.18Pearl

0.06Metalmaterials

0.06Goldwareandsilverware

0.0111Description:InChina,goldaccountedforapproximately47.3billionU.S.dollarsofthetotalimportvaluein2021.Additionally,platinumanddiamondcontributedtotheimportationofjewelrywith10billiondollarsand9.89billionU.S.dollarsrespectively.Inlayjewelry,whichgeneratedthehighestexportvaluein2021,rankedfourthinimportvalue.ReadmoreNote(s):China;2021Source(s):ChinaCustoms;ChinaJewelryAssociation;Website()ValueofpreciousmetalsandjewelryproductsexportedfromChinafrom2014to2022(inbillionU.S.dollars)JewelryexportvaluefromChina2014-20227063.260504030.930.129.33021.920.419.718.4182010020142015201620172018201920202021202212Description:In2022,Chinaexportedapproximately30.1billionU.S.dollarsworthofjewelryproducts,increasingfrom29.3billionU.S.dollarsin2021.Inthatyear,thejewelryimportstoChinasurpassed10billionU.S.dollars.

ReadmoreNote(s):China;2014to2022Source(s):ChinaJewelryAssociation;Website()ExportvalueofleadingjewelryandpreciousmetalproductsinChinain2021,byproducttype(inbillionU.S.dollars)ExportvalueofleadingjewelryproductsinChina2021ExportvalueinbillionU.S.dollars0246810121416InlayjewelrySilver14.493.743.61ImitationjewelryGold3.15Diamond2.27Artificalgem0.710.45GoldwareandsilverwareOthers0.4MetalmaterialsPreciousandsemi-preciousstone0.380.09Pearl

0.04Platinum

0.0113Description:In2021,withanexportvalueofapproximately14.5billionU.S.dollars,inlayjewelrybecamethemost-exportedjewelryproductfromChina.Silverrecordedthesecond-highestexportvaluethatyearwith3.74billionU.S.dollars.

ReadmoreNote(s):China;2021Source(s):ChinaCustoms;ChinaJewelryAssociation;Website()CHAPTER

03RetailsalesRetailsalesofgold,silverandjewelryinChinafrom2012to2022(inbillionyuan)Retailsalesofgold,silverandjewelryChina2012-2022350306.93304.11299.6301.37295.93297.31296.9530025020015010050275.83260.58237.6220.9402012201320142015201620172018201920202021202215Description:In2022,theretailsalesofgold,silver,andjewelryinChinaamountedtoapproximately301.4billionyuan,indicatinganaboutonepercentincreasecomparedtothepreviousyear.

ReadmoreNote(s):China;2012to2022Source(s):NationalBureauofStatisticsofChinaRevenueshareofjewelryinChinafrom2013to2025,bysegmentJewelrymarketrevenueshareinChina2013-2025,bysegmentLuxuryNon-Luxury120%100%80%60%40%20%0%91%91%91%91%90%89%90%90%89%89%89%89%92%9%9%9%9%10%11%10%10%11%11%11%11%8%201320142015201620172018201920202021202220232024202516Description:In2023,majorityoftherevenuegeneratedinthejewelrymarketinChinawasfromsalesofnon-luxuryjewelryatapproximately89percent.Theremaining11percentwasfromsalesofluxuryjewelry.AccordingtoestimatesoftheConsumerMarketOutlook,theshareofsalesofluxuryjewelryisexpectedtoremainatthesamelevelby2025.ReadmoreNote(s):China;2013to2025Source(s):ConsumerMarketInsightsRevenueoftheluxuryjewelrymarketinChinafrom2015to2028(inbillionU.S.dollars)RevenueoftheluxuryjewelryindustryinChina2015-202818161415.9615.615.1114.6314.1313.6212.511.7811.451210811.0910.6510.3610.19.9564202015201620172018201920202021202220232024202520262027202817Description:TherevenueintheluxuryjewelrysegmentoftheluxurygoodsmarketinChinawasforecasttocontinuouslyincreasebetween2023and2028byintotal2.3billionU.S.dollars(+16.89percent).Therevenueisestimatedtoamountto15.96billionU.S.dollarsin2028.FindfurtherinformationconcerningtheLuxuryGoodsmarketanditssegments.Hereyoucanfindtheaveragerevenueperuser(ARPU)concerningtheprestigefragrancessegmentoftheluxurygoodsmarketworldwideandthe[...]

ReadmoreNote(s):China;2015to2028Source(s):ConsumerMarketInsightsMarketshareofleadingjewelrybrandsinChinain2022ShareofjewelrysalesinChina2022,bybrandMarketshare0%1%2%3%4%5%6%7%8%9%10%ChowTaiFookLaoFengXiangLaomiao9.3%7.9%3.7%ChowTaiSengChowSangSangTiffany&Co.Cartier1.9%1.7%1.5%1.3%18Description:In2022,ChowTaiFookdominatedChina'sjewelrymarketwithasalesshareof9.3percent.Meanwhile,theluxuryfinejewelrybrandTiffany&Cotookupabout1.5percentofthetotaljewelrysalesinChina,slightlyhigherthanitsprimarycompetitor,Cartier.ReadmoreNote(s):China;2022Source(s):E;Euromonitor;WanlianSecuritiesShareofjewelrysalesinChinain2022,bymajorchannelSalesshareofjewelryinChina2022,bymajorchannel60%51.6%50%40%36.4%30%20%10%0%10.3%0.1%DepartmentstoresSpecialtystoresE-commerceSupermarketsandhypermarkets19Description:JewelrysalesinChinaweredominatedbydepartmentstoresin2022,witharound51.6percentcomingfromthechannel.Incontrast,onlinejewelrysalesaccountedfor10.3percentofsales.

ReadmoreNote(s):China;2022Source(s):E;Euromonitor;WanlianSecuritiesNumberofjewelryretailoutletsinChinaasof2022,byleadingbrandNumberofjewelryshopsinChina2022,byleadingbrandNumberofstores01,0002,0003,0004,0005,0006,0007,0007,0168,000ChowTaiFookLaoFengXiangChowTaiSengLukFook5,6094,6162,847CHJJewelleryChowSangSangDRGroup1escription:Asoftheendof2022,HongKong-basedjewelrygroupChowTaiFookownedatotalof7,016brick-and-mortarstores,slightlymorethanitsmajorcompetitorLaoFengXiangwhooperated5,609stores.Post-pandemic,China'sjewelryindustryhasseensteadygrowth.ReadmoreNote(s):China;2022Source(s):ChinaMinshengBanking;ESalesshareofjewelryviaonlinechannelsinChinain2022,bymajorbrandShareofe-commercejewelrysalesinChina2022,bybrandSalesshare0%5%10%15%20%25%30%35%40%45%ZhouLiuFuJewellery*CHJJewellery38.9%20.8%ChowTaiSengBeijingCaishikouDRGroup13.9%13.4%10.7%ChinaGold9.5%ChowTaiFook5%21Description:Inthefirsthalfof2022,around38.9percentofZhouLiuFuJewellry'ssalesweregeneratedonline.Incomparison,thee-commercechannelonlycontributedfivepercentofthetotalsalesofChowTaiFookin2022.

ReadmoreNote(s):China;2022;*asofH12022.ReadmoreSource(s):ZhongweiZhiyanConsultingCHAPTER

04KeymarketplayersAnnualrevenueofChowTaiFookGroupfromfinancialyear2013to2023(inmillionHongKongdollars)AnnualrevenueofChowTaiFookFY2013-FY2023120,00098,938100,00094,68477,407.180,00060,00040,00020,000070,16466,66164,27759,15657,433.956,591.556,75151,2462013201420152016201720182019202020212022202323Description:Inthefinancialyear2023,theannualrevenueofChowTaiFookamountedtoabout94.68billionHongKongdollars.Thisindicateda4.3percentdecreaseinrevenuecomparedtothepreviousyear.

ReadmoreNote(s):Asia;FY2013toFY2023;financialyearendedonMarch31Source(s):ChowTaiFookRevenueofChinesejewelrycompanyLaoFengXiangCo.,Ltd.from2012to2022(inbillionyuan)RevenueofLaoFengXiangChina2012-20227060504063.0158.6951.7249.6343.7839.8135.7134.9632.9832.84302010025.552012201320142015201620172018201920202021202224Description:LaoFengXiangCo.,Ltd.isoneoftheoldestjewelrybrandsinChina.In2022,LaoFengXianggeneratedatotalrevenueofapproximately63billionyuan.ReadmoreNote(s):China;2012to2022Source(s):E;LaoFengXiangAnnualrevenueofChowSangSangHoldingsInternationalLimitedfromfinancialyear2015to2022(inmillionHongKongdollars)AnnualrevenueofChowSangSangFY2015-FY202225,00021,987.620,556.520,00015,00010,0005,000019,069.318,771.817,712.116,59916,092.514,997.52015201620172018201920202021202225Description:Inthefiscalyear2022,theannualrevenueofChowSangSangamountedtoabout20.56billionHongKongdollars.Thisindicatedasevenpercentdeclinecomparedtothepreviousyear.

ReadmoreNote(s):HongKong;FY2015toFY2022;financialyearendedonDecember31Source(s):ChowSangSangAnnualrevenueofChowTaiSengJewelleryCo.,Ltd.fromfinancialyear2015to2022(inmillionyuan)AnnualrevenueofChowTaiSengFY2015-FY202212,00010,0008,00011,118.19,155.26,0005,439.35,084.14,869.93,805.44,0002,00002,901.820162,729.1201520172018201920202021202226Description:In2022,theannualrevenueofChowTaiSengamountedtoapproximately11.12billionyuan.Thefigurehasseenasignificantgrowthin2022,increasingbyaround21percentfromthepreviousyear.

ReadmoreNote(s):China;FY2015toFY2022;financialyearendedonDecember31Source(s):ChowTaiSengCHAPTER

05ConsumerperspectiveDistributionofjewelryconsumersinChinain2021,byageBreakdownofjewelryconsumersinChina2021,byageabove55years1%45to55years4%18to24years4%35to44years36%25to34years55%28Description:In2021,peoplebetween25and34yearsoldmadeupabout55percentofjewelryconsumersinChina.Incomparison,onlyfivepercentofthejewelrybuyersinChinawereabove45yearsold.

ReadmoreNote(s):China;2021Source(s):LeadLeoDistributionofjewelryconsumersinChinain2021,bymonthlyhouseholdincomeBreakdownofjewelryconsumersinChina2021,bymonthlyhouseholdincomeShareofconsumers20%0%5%5%10%15%25%30%35%40%45%Lessthan10,000yuan10,000to20,000yuan20,000to30,000yuan30,000to40,000yuan40,000to50,000yuanAbove50,000yuan40%28%15%7%5%29Description:In2021,around40percentofChina'sjewelryconsumershadamonthlyhouseholdincomeof10,000to20,000yuan.Meanwhile,onlyfivepercentofChina'sjewelryconsumersearnedover50,000yuanpermonth.

ReadmoreNote(s):China;2021Source(s):LeadLeoPercapitaspendingonbuyingjewelryinChinafrom2007to2021(inyuan)AnnualpercapitaexpenditureonjewelryproductsinChina2007-2021600500541.3506502471461443445413416400336283300200100022117916013720072008200920102011201220132014201520162017201820192020202130Description:China'spercapitaspendingonjewelryincreasedfrom461yuanto541yuanin2021.Nevertheless,theaveragejewelryspendinginChinawassignicantlylowercomparedtotheUnitedStates.

ReadmoreNote(s):China;2007to2021Source(s):Euromonitor;EverbrightInternational;Website()Favoritejewelrymaterialsamonghigh-incomeconsumersinChinaasofJanuary2023,bytypeLeadingjewelrymaterialsamongwealthyconsumersinChina2023,bytypeShareofrespondents30%0%10%20%40%50%60%DiamondYellowgoldJade53%43%38%Platinum34%WhitegoldPearl30%26%25%RosegoldColoredgemstonesSyntheticdiamondSilver21%19%14%31Description:AccordingtoasurveyonluxurygoodspurchasesinJanuary2023,around53percentofmainlandChinaconsumerssaidthatdiamondwastheirfavoritetypeofjewelrymaterial.Meanwhile,yellowgoldremainedapopularjewelrymaterial.

ReadmoreNote(s):China;December2,2022toJanuary4,2023;2,000respondents;amongHNWIsfrommainlandChina*Source(s):ConsumerSearchHongKongLtd.;RuderFinnLeadingdecision-makingfactorsinbuyingjewelryamonghigh-incomeconsumersinChinaasofJanuary2023MajorcriteriainbuyingjewelryamongrichconsumersinChina2023Shareofrespondents20%

25%0%5%10%15%30%35%40%45%45%50%MaterialsCraftsmanship40%40%39%38%38%EasytorecognizePotentialofresalevalueValueformoneyLimitedediti