View source for Chow Tai Fook

{{advert|date=October 2022}}<!--It has been found that the 'history' section has some fictional information made up for promotional reasons, e.g. Actually, the name 'Chow Tai Fook' was in use only after the business reached Hong Kong. Please note that its official websites and probably official promotors are not reliable.-->
{{short description|Hong Kong–based privately owned conglomerate}}
{{EngvarB|date=June 2018}}
{{Use dmy dates|date=June 2018}}
{{Infobox company
| name = Chow Tai Fook
| logo = ChowTaiFook logo.svg
| image = HK Chow Tai Fook 周 大 福.JPG
| image_caption = Shop of Chow Tai Fook Jewellery in [[Queen's Road Central]], Hong Kong
| type = Private
| foundation = {{bulleted list|{{start date and age|1929}} in [[Guangzhou]]|1961 in Hong Kong (as Chow Tai Fook Jewellery Co., Ltd.)|{{start date|df=y|1966|08|10}} in Hong Kong (as Chow Tai Fook Enterprises)<ref name=CR>Data in Hong Kong Companies Registry</ref>}}
| founder = [[Chow Chi-yuen]]
| location = 38/F, New World Tower
| location_city = Hong Kong
| location_country = 
| origins = 
| key_people = [[Henry Cheng]]
| area_served = mainland China, Hong Kong, Japan, Macau, Malaysia, Singapore, South Korea, Taiwan, United States, Canada<ref>{{cite web |url=http://www.chowtaifook.com/en/shop.html |title=Retail Network |publisher=Chow Tai Fook Jewellery |accessdate=2018-07-04}}</ref>
| industry = [[Conglomerate (company)|Conglomerate]]
| products = {{Unbulleted list|jewellery|real estate}}
| services = {{Unbulleted list|transportation|telecommunications}}
| brands = CTF
| revenue = 
| operating_income = 
| net_income = 
| num_employees = 
| parent = 
| divisions = 
| subsid = {{Unbulleted list|Chow Tai Fook (Holding)|Chow Tai Fook Enterprises|CTF Holdings|Chow Tai Fook Nominee|Chow Tai Fook Jewellery|[[New World Development]]}}
| owner = [[Cheng Yu-tung]] family
| website = 
| module = {{Infobox Chinese
|child=yes
|t=周大福
|s=周大福
|p=Zhōu Dà Fú
|j=zau1 daai6 fuk1
|y=jāu daaih fūk
|l= [[Zhou (surname)|Zhou]] – good luck / good fortune<ref name=brand>{{cite news|url=https://www.bbc.com/news/business-15831626|title=Luxury jeweller Chow Tai Fook in mega Hong Kong listing|date=23 November 2011|access-date=9 November 2018|work=BBC News}}</ref>
|altname=Chow Tai Fook Enterprises Limited
|t2=周大福企業有限公司
|s2=周大福企业有限公司
|p2=Zhōu Dà Fú Qǐyè Yǒuxiàngōngsī
|j2=zau1 daai6 fuk1 kei5 jip6 jau5 haan6 gung1 si1
|altname3= Chow Tai Fook group
|t3=周大福集團
|showflag=jyp}}
}}

'''Chow Tai Fook group''' is a Hong Kong–based, privately-owned conglomerate with holdings in the jewellery, [[property development]], hotel, [[department store]], transportation, energy, [[telecommunications]], port,{{citation needed|date=November 2018}} [[casino]], and other businesses. Despite the holding companies of the group, namely '''Chow Tai Fook Capital Limited''', '''Chow Tai Fook (Holding) Limited''', '''Chow Tai Fook Enterprises Limited''', etc. being privately owned, the group has been partially listed on the stock market via associate company [[New World Development]] ({{hkex|17}}, listed since 1972) and subsidiary '''Chow Tai Fook Jewellery Group Limited''' ({{hkex|1929}}, listed since 2011). As of 31 December 2018, New World Development was ranked as the 47th-largest company by market capitalization on the Stock Exchange of Hong Kong, which was HK$105.68061&nbsp;[[billion (short scale)|billion]].<ref>{{cite book|url=https://www.hkex.com.hk/-/media/HKEX-Market/Market-Data/Statistics/Consolidated-Reports/HKEX-Fact-Book/HKEX-Fact-Book-2018/FB_2018.pdf|chapter=50 leading companies in market capitalisation|title=2018 HKEX Factbook|date=2019|access-date=21 March 2019|publisher=Hong Kong Exchanges and Clearing|page=23}}</ref>

However, the size of the unlisted portion of the Chow Tai Fook business empire is unclear. The ''Financial Times'' quoted one banker of the Cheng Yu-tung family, who said, "You can't look at [Cheng] YT without looking at the private side of the business and his ability to spot early investment opportunities".<ref name=ftobituary>{{cite news|url=https://www.ft.com/content/4180aae2-86fb-11e6-ad89-ba2f348161fb|archive-url=https://ghostarchive.org/archive/20221212001250/https://www.ft.com/content/4180aae2-86fb-11e6-ad89-ba2f348161fb|archive-date=12 December 2022|url-status=live|title=Cheng Yu-tung, Hong Kong tycoon, 1925-2016|date=1 October 2016|access-date=9 November 2018|location=London|first=Jennifer|last=Hughes|newspaper=Financial Times|type=obituary|url-access=limited|others=Additional reporting by Ma Nan in Shanghai and Gloria Cheung in Hong Kong}}</ref> Notable unlisted businesses of the group include [[Rosewood Hotel Group]], as well as Australia-based [[Alinta Energy]] and the [[Loy Yang Power Station|Loy Yang B power station]], which were acquired in 2017.

Chow Tai Fook Capital is owned by the descendants of the late Chow Tai Fook Jewellery founder [[Chow Chi-yuen]] ({{zh|t=周至元}}) and his son-in-law, the late [[Cheng Yu-tung]], which includes the current Chow Tai Fook Jewellery Group chairman, Chow Tai Fook (Holding) director [[Henry Cheng]].<ref name=NWSHoldings2017AR/>

==History==
The Chow Tai Fook group began with the Chow Tai Fook [[jewellery store]], founded by [[Chow Chi-yuen]] in 1929 in Guangzhou, China. The store shifted its business to [[Portuguese Macau]] in 1940<ref name=ftobituary/> (some say 1931<ref name=eastweek/>) and then to [[British Hong Kong]] after the breakout of the [[Second Sino-Japanese War]]<ref name=eastweek/> in the 1930s and the establishment of the [[People's Republic of China]] in 1949. The group returned to mainland China after the market reforms of the 1980s, notably as [[New World Department Store China]] and former listed company [[New World China Land]].

[[Cheng Yu-tung]] took over the business empire from his father-in-law Chow Chi-yuen in 1956.<ref name=ftobituary/> Other sons of Chow emigrated after the outbreak of [[Hong Kong 1967 leftist riots]], such as Stephen Chow Shue-tong ({{zh|t=周樹堂|labels=no}}), an architect who emigrated to Canada.<ref name=StephenChow/> Stephen Chow also involved in the founding of the real estate division of Chow Tai Fook group in the 1960s.<ref name=StephenChow>{{cite news|url=https://paper.hket.com/article/1480002/%E5%91%A8%E5%A4%A7%E7%A6%8F%E5%BE%8C%E4%BA%BA%20%E8%88%87%E7%8F%A0%E5%AF%B6%E6%A5%AD%E3%80%8C%E5%88%86%E6%89%8B%E3%80%8D%E6%8F%AD%E7%A7%98|script-title=zh:周大福後人 與珠寶業「分手」揭秘|date=10 August 2016|newspaper=[[Hong Kong Economic Times]]|language=zh-hk|url-access=subscription }}</ref> Cheng transformed the group into a diversified empire, with interests in jewellery retailing, [[real estate]], hotels, transportation, public utilities, and other businesses. In 1961, Chow Tai Fook Jewellery built a residential building at 265–275 Tai Nan Street, [[Sham Shui Po]], Kowloon. The building was also named after Tai Fook ({{zh|t=大福唐樓|labels=no}}).<ref>{{cite news|script-title=zh:大福唐樓定購者衆|date=30 September 1961|newspaper=Wah Kiu Yat Po|location=Hong Kong|language=zh-hk|page=9}}</ref> The real estate division became the listed company New World Development in 1972; the group, via Chow Tai Fook Enterprises, also made private investments in real estate and hotels.

One of the main holding companies of the group, Chow Tai Fook Enterprises Limited, was incorporated on 10 August 1966 in [[British Hong Kong]],<ref>{{Cite web|url=https://opencorporates.com/companies/hk/0013116|title = Chow Tai Fook Enterprises Limited :: Hong Kong :: OpenCorporates}}</ref> while the flagship listed company [[New World Development]] Company Limited was incorporated in 1970 in British Hong Kong.<ref>{{Cite web|url=https://opencorporates.com/companies/hk/0020517|title = NEW WORLD DEVELOPMENT COMPANY LIMITED :: Hong Kong :: OpenCorporates}}</ref><ref name=ftobituary/> The jewellery store chain was incorporated as Chow Tai Fook Jewellery Company Limited in 1961 in British Hong Kong,<ref>{{Cite web|url=https://opencorporates.com/companies/hk/0006546|title = CHOW TAI FOOK JEWELLERY COMPANY LIMITED :: Hong Kong :: OpenCorporates}}</ref> and a new holding company for the jewellery division was incorporated in the [[Cayman Islands]] and listed in the Hong Kong S.A.R., now part of China, as Chow Tai Fook Jewellery Group Limited in 2011.

As of 2018, the group also consists of two more parent companies in the group structure, namely Chow Tai Fook Capital Limited and its subsidiary Chow Tai Fook (Holding) Limited. They were incorporated in the British Virgin Islands. Chow Tai Fook (Holding) is the parent company of Chow Tai Fook Enterprises and Chow Tai Fook Jewellery Group.<ref name=CTFJ2017AR/>{{rp|155}}

==Subsidiaries and affiliates==
The Chow Tai Fook group, via Chow Tai Fook (Holding) Limited (incorporated in the British Virgin Islands) and Chow Tai Fook Enterprises Limited (incorporated in Hong Kong),<ref>{{cite press release|url=http://www3.hkexnews.hk/listedco/listconews/sehk/2017/0322/ltn20170322261.pdf|title=CONTINUING CONNECTED TRANSACTION RENEWAL OF ANNUAL CAPS FOR CTFE TENANCY FRAMEWORK AGREEMENT|date=22 March 2017|access-date=8 November 2018|publisher=Chow Tai Fook Jewellery Group|location=Hong Kong|via=Hong Kong Exchanges and Clearing website}}</ref> owned two listed companies as the significant shareholder: Chow Tai Fook Jewellery Group Limited ({{zh|t=周大福珠寶集團有限公司|labels=no}}, incorporated in the Cayman Islands; 89.3%) and [[New World Development]] Company Limited ({{zh|t=新世界發展有限公司|labels=no}}; 44.39%).<ref name=CTFJ2017AR/> New World Development also owned a few listed [[Subsidiary#Tiered subsidiaries|second-tier subsidiaries]] (with regard to Chow Tai Fook Enterprises), such as [[New World Department Store China]],<ref name=CTFJ2017AR>{{cite book|url=http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/0614/LTN20180614005.pdf|title=2018 Annual Report|chapter=Directors' Report|page=155|publisher=Chow Tai Fook Jewellery Group|date=14 June 2018|access-date=8 November 2018|via=Hong Kong Exchanges and Clearing}}</ref> [[NWS Holdings]],<ref name=NWSHoldings2017AR>{{cite book|url=http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/1015/LTN20181015620.pdf|title=2018 Annual Report|date=15 October 2018|accessdate=8 November 2018|publisher=NWS Holdings|pages=99–100|chapter=Report of the Directors|via=Hong Kong Exchanges and Clearing}}</ref> etc. [[New World China Land]], another second-tier subsidiary, was a listed company until its privatization by New World Development in 2016.<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2016-03-21/new-world-development-wins-go-ahead-to-take-chinese-unit-private|title=New World China Gets Approval to Privatize, Shares Surge|date=21 March 2016|access-date=9 November 2018|publisher=Bloomberg|first=Kana|last=Nishizawa}}</ref> The privatization of listed second-tier subsidiary New World Department Store China by New World Development was not approved by the minority shareholders in 2017.<ref>{{cite news|url=https://www.scmp.com/business/article/2108791/new-world-department-stores-privatisation-plan-fails-garner-required|title=New World Department Store's privatisation plan fails to garner required support from shareholders|date=29 August 2017|access-date=9 November 2018|newspaper=South China Morning Post|location=Hong Kong}}</ref> Another second-tier listed subsidiary, [[New World Hotels (Holdings)]], was privatized by New World Development and Chow Tai Fook Enterprises in 1990.

New World Development is a constituent of the Hong Kong blue-chip [[Hang Seng Index]]. Chow Tai Fook Jewellery Group, as of 13 October 2016, was the world's second-largest jeweller by [total] [[market capitalization]].<ref>{{cite news|url=https://asia.nikkei.com/Business/Can-Cheng-Yu-tung-s-business-empire-thrive-without-him|title=Can Cheng Yu-tung's business empire thrive without him?|date=20 October 2016|access-date=9 November 2018|newspaper=Nikkei Asian Review|first=Jennifer|last=Lo}}</ref>

===Chow Tai Fook Jewellery Group===
Chow Tai Fook Jewellery is a [[jewellery store]] and gold shop ({{zh|t=珠寶金行}} {{zh|t=金行|labels=no|l=gold shop}}) founded by [[Chow Chi-yuen]] in 1929 in [[Guangzhou]], China. His son-in-law [[Cheng Yu-tung]] took over the business in 1956<ref name=foundation>{{cite news|url=http://www.xinhuanet.com/fashion/2015-09/15/c_128219402.htm|script-title=zh: 周大福的2015全年销售额高居全球第四|date=15 September 2015|access-date=8 November 2018|agency=Xinhua News Agency|language=zh-cn|archive-date=8 November 2018|archive-url=https://web.archive.org/web/20181108184554/http://www.xinhuanet.com/fashion/2015-09/15/c_128219402.htm|url-status=dead}}</ref> and their descendants continue to own the business today. Chow Tai Fook Jewellery Company Limited ({{zh|t=周大福珠寶金行有限公司|labels=no}}) was the core company of the store chain.<ref name=foundation/> It was incorporated in [[British Hong Kong]] in 1961.<ref>{{cite web|url=https://opencorporates.com/companies/hk/0006546|title=CHOW TAI FOOK JEWELLERY COMPANY LIMITED|date=3 March 2020|access-date=26 January 2021|website=opencorporates.com}}</ref> The brand is popular in the [[Sinophone|Chinese-speaking]] world, according to a research by [[CLSA]].<ref name=brand/> The store has retail outlets in several countries, including over 6,800{{cn|date=January 2021}} retail outlets in mainland China.

Cheng invented gold with 99.99% purity as a product of Chow Tai Fook Jewellery,<ref name=timeline>{{cite news|url=https://invest.hket.com/article/1513452/%E3%80%90%E5%BD%A4%E5%8F%94%E9%9B%A2%E4%B8%96%E3%80%91%E5%91%A8%E5%A4%A7%E7%A6%8F%E9%9B%86%E5%9C%98%E5%8F%8A%E6%96%B0%E4%B8%96%E7%95%8C%E5%89%B5%E8%BE%A6%E4%BA%BA%E9%84%AD%E8%A3%95%E5%BD%A4%E7%94%9F%E5%B9%B3%E7%B0%A1%E8%BF%B0%EF%BC%88%E4%B8%80%EF%BC%89|script-title=zh:【彤叔離世】周大福集團及新世界創辦人鄭裕彤生平簡述（一）|date=30 September 2016|access-date=10 November 2018|publisher=[[Hong Kong Economic Times Holdings]]|language=zh-hk}}</ref> which became a standard for industry peers in Hong Kong.<ref name=eastweek>{{cite magazine|url=https://eastweek.my-magazine.me/main/6852|script-title=zh:周大福珠寶金飾先驅|date=25 May 2010|access-date=9 November 2018|magazine=East Week|publisher=[[Sing Tao News Corporation]]|location=Hong Kong|language=zh-hk}}</ref> In 1964, Chow Tai Fook Jewellery acquired a license for purchasing diamonds from [[De Beers]], the monopoly supplier at that time.<ref name=eastweek/><ref name=timeline/><ref>{{cite magazine|url=https://hk.lifestyle.appledaily.com/nextplus/magazine/article/20160930/2_433814_0/%E5%A4%96%E7%88%B6%E6%8F%90%E6%94%9C%E6%88%90%E7%8F%A0%E5%AF%B6%E5%A4%A7%E7%8E%8B-%E8%BD%89%E6%88%B0%E5%9C%B0%E7%94%A2%E8%AE%8A%E5%A4%A7%E4%BA%A8%E7%8D%B2%E5%B0%81-%E6%B2%99%E8%86%BD%E5%BD%A4-|script-title=zh: 外父提攜成珠寶大王 轉戰地產變大亨獲封「沙膽彤」 |date=30 September 2016|access-date=9 November 2018|magazine=Next Magazine|publisher=Next Digital|location=Hong Kong|language=zh-hk}}</ref> It was reported that 30% of diamond imports into Hong Kong in the 1970s were purchased by Chow Tai Fook.<ref name=eastweek/>

In 1960s, Chow Tai Fook established another brand ({{zh|t=萬年珠寶公司|l=Ten thousand year jewellery company}}) in a building of the same name ({{Interlanguage link|Manning House (Hong Kong)|zh|萬年大廈|lt=Manning House}}, in {{zh|t=萬年大廈}}) in Central.<ref>{{cite news|url=https://topick.hket.com/article/1513479/%E9%84%AD%E8%A3%95%E5%BD%A4%E6%88%90%E5%8A%9F%E8%83%8C%E5%BE%8C%E7%9A%84%E5%A5%B3%E4%BA%BA%20%E5%A4%96%E7%88%B6%E7%82%BA%E5%91%A8%E5%A4%A7%E7%A6%8F%E5%89%B5%E8%BE%A6%E4%BA%BA|script-title=zh:鄭裕彤成功背後的女人 外父為周大福創辦人|trans-title=The woman behind the success of Cheng Yu-tung; father-in-law was the founder of Chow Tai Fook|date=30 September 2016|access-date=10 November 2018|work=Topick|publisher=Hong Kong Economic Times Holdings|language=zh-hk}}</ref> Manning House became one of the rental properties of the jeweller's sister company [[New World Development]]'s portfolio in the 1970s.<ref>{{cite book|url=https://www.nwd.com.hk/sites/default/files/ar1973e.pdf|title=1973 Annual Report|date=1973|access-date=19 November 2018|publisher=New World Development|location=Hong Kong|chapter=Property Portfolio|page=16|language=en-hk, zh-hk}}</ref>

In 1971, Chow Tai Fook Jewellery introduced ornaments made of [[vitreous enamel]]. It was credited as a new industry of Hong Kong at that time.<ref>{{cite news|script-title=zh:本港出現新興工業 琺瑯飾物勢必流行|date=1 May 1971|newspaper=Wah Kiu Yat Po|location=Hong Kong|language=zh-hk|page=13}}</ref>

In 1989, Chow Tai Fook Jewellery broke the record for the highest price paid for a rough diamond. The company paid US$10&nbsp;million for a diamond weighing 255.61 carats.<ref>{{cite news|script-title=zh:周大福珠寶高價奪得 千萬美元巨鑽 創未經打磨鑽石紀錄|trans-title=Chow Tai Fook Jewellery acquired diamond for US$10&nbsp;million, break the record for rough diamond|date=3 March 1989|newspaper=Wah Kiu Yat Po|language=zh-hk|page=5|agency=Reuters}}</ref>

By September 2010, the company had 1,000 chain stores in mainland China, including franchisees and its own outlets; it also set an objective of opening 2,000 chain stores in mainland China by the year of 2020. Chow Tai Fook Jewellery has played a leading role in its market segment since it foundation, especially in the period since 1997. For 5 continuous years since 2005, it held the no. 1 market share position in its industry segment.<ref name="accessmylibrary">{{cite web|url=http://www.accessmylibrary.com/coms2/summary_0286-24585939_ITM|publisher=accessmylibrary.com|title=Apps – Access My Library – Gale|accessdate=4 November 2016|archive-url=https://web.archive.org/web/20121019212845/http://www.accessmylibrary.com/coms2/summary_0286-24585939_ITM|archive-date=19 October 2012|url-status=dead|df=dmy-all}}</ref>{{unreliable source?|date=November 2018}}

In 2010, Chow Tai Fook Jewellery purchased Cullinan Heritage, a 507-carat diamond, for US$35.3&nbsp;million, setting a new record for the highest price paid for a rough diamond.<ref name=eastweek/><ref>{{cite news|url=http://www.mineweb.com/mineweb/content/en/mineweb-diamonds-and-gems?oid=99706&sn=Detail|title=Petra sells massive diamond for record $35.3m|date=26 February 2010|access-date=9 November 2018|agency=Reuters|website=mineweb.com|archiveurl=https://web.archive.org/web/20140427135612/http://www.mineweb.com/mineweb/content/en/mineweb-diamonds-and-gems?oid=99706&sn=Detail|archivedate=27 April 2014}}</ref>

On 15 December 2011, the jewellery division of Chow Tai Fook group, under new holding company Chow Tai Fook Jewellery Group Limited, was listed on the Stock Exchange of Hong Kong at a price of HK$15 per share<ref>{{cite news|url=https://www.bbc.com/zhongwen/simp/business/2011/12/111214_hk_chowtaifook_ipo|script-title=zh:周大福香港招股集资19亿美元|trans-title=Chow Tai Fook Hong Kong initial public offering of US$1.9&nbsp;billion|date=14 December 2011|access-date=8 November 2018|work=BBC News 中文|publisher=British Broadcasting Corporation|location=London |language=zh-hans}}</ref> under the stock code ([[ticker symbol]]) 1929, the year of establishment of the chain.

On 4 April 2017, according to [[Sotheby's]], Chow Tai Fook (the press release claimed it was jeweller Chow Tai Fook but ''Financial Times'', quoting Sotheby's [[twitter|tweet]], reported it as Chow Tai Fook Enterprises) acquired the [[Pink Star (diamond)|Pink Star]] diamond at an auction in Hong Kong for US$71.2&nbsp;million (HK$553&nbsp;million).<ref>{{Cite web|url=https://www.ft.com/content/f9940eb0-9726-34d5-aa30-3b7ec2c8178c|archive-url=https://ghostarchive.org/archive/20221212001206/https://www.ft.com/content/f9940eb0-9726-34d5-aa30-3b7ec2c8178c|archive-date=12 December 2022|url-status=live|title="Pink Star" diamond dazzles at Sotheby's auction, selling for record $71m|last=Sheppard|first=David|website=Financial Times|date=4 April 2017|access-date=4 April 2017|url-access=limited}}</ref><ref>{{cite press release|url=http://www.sothebys.com/en/auctions/2017/the-pink-star-hk0770.html|title= The Pink Star: One Of The World's Great Natural Treasures|date=4 April 2017|access-date=9 November 2018|publisher=Sotheby's}}</ref>

On 23 May 2018, the Gemological Institute of America (GIA) partnered with Chow Tai Fook on a pilot program that will use blockchain to deliver digital diamond-grading reports.<ref>{{Cite web|url=http://www.diamonds.net/News/NewsItem.aspx?ArticleID=62302&ArticleTitle=GIA%2c+Chow+Tai+Fook+Launch+Blockchain+Pilot|title=Diamonds.net – GIA, Chow Tai Fook Launch Blockchain Pilot|date=23 May 2018|access-date=30 May 2018}}</ref>

On 17 January 2020, Chow Tai Fook Jewellery Group acquired the natural-coloured gem specialist ENZO.<ref>{{Cite web|url=https://www.scmp.com/business/article/3046618/hong-kongs-chow-tai-fook-worlds-second-largest-jewellery-retailer-kicks|title=Hong Kong's Chow Tai Fook, world's second-largest jewellery retailer, kicks off mainland China expansion with acquisition of gems maker Enzo|date=18 January 2020 }}</ref>

As at 31 December 2024, the group had 7,065 points of sale in total, including 6,904 POS in mainland China and 161 combined in Hong Kong & Macau of China and other markets. The Group closed a net of 281 POS during the 3Q of FY2025. *"shop-in-shop"/"counter-in-shop” excluded<ref>{{Cite web|url=https://ir.ctfjewellerygroup.com/20250122164015261411517655_en.pdf|title=THE UNAUDITED KEY OPERATIONAL DATA FOR THE THREE MONTHS ENDED 31 DECEMBER 2024|date=22 January 2025}}</ref>

====Incidents====
Chow Tai Fook Jewellery has fallen victim to major crime a number of times. In 1966, diamonds worth HK$1.23&nbsp;million at that time, were stolen during transport from South Africa.<ref>{{cite news|script-title=zh:巨批鑽石運港途中失踪案爲周大福金行訂購已照貨值加二投保|date=3 June 1966|newspaper=The Kung Sheung Evening News|publisher=[[Industrial and Commercial Daily Press]]|language=zh-hk|page=3}}</ref> In 1974, diamonds worth HK$250,000 were stolen from the staff of Chow Tai Fook Jewellery in Manning House, [[Central, Hong Kong]].<ref>{{cite news|script-title=zh:三匪在萬年大廈截停電梯劫去廿五萬元鑽石周大福金行一職員被捆綁 |date=27 August 1974|newspaper=The Kung Sheung Evening News|location=Hong Kong |language=zh-hk|page=8}}</ref> In 1980<ref>{{cite news|script-title=zh:警匪駁火 五賊在逃|date=9 November 1980|newspaper=The Kung Sheung Evening News|location=Hong Kong|language=zh-hk|page=2}}</ref> and 1981, the Kowloon City branch was hit twice by armed robberies. The thieves also injured a staff member of the jewellery store and a student walking nearby in the second robbery.<ref>{{cite news|script-title=zh:閃電械劫九龍城周大福金舖 匪徒先後開七槍|date=2 April 1981|newspaper=The Kung Sheung Evening News|location=Hong Kong|language=zh-hk|page=8}}</ref><ref>{{cite news|url=http://orientaldaily.on.cc/archive/20020731/new/new_a01cnt.html|script-title=zh:季炳雄招兵 疑「細細個」供械|date=31 July 2002|access-date=10 November 2018 |newspaper=Oriental Daily|location=Hong Kong|language=zh-hk}}</ref> In 1985, in front of the Kowloon City branch, a gunfight broke out between the [[Royal Hong Kong Police]] and the robbers, in which a policeman was injured. On the same day, a man with a gunshot wound arrived at the hospital, who was suspected to be one of the robbers.<ref>{{cite news|script-title=zh:九龍城周大福被劫金飾值百萬元警匪發生激烈槍戰後一疑匪到院求院被拘扶持中槍受傷疑匪兩男子抵院後匆匆離去|date=14 March 1985|newspaper=Ta Kung Pao|language=zh-hk|location=Hong Kong|page=4}}</ref> In 1989, armed robbers disguised as customers stole luxury watches from the {{Interlanguage link|Causeway Bay Plaza|zh|銅鑼灣廣場}} branch. It was reported the watches had a worth of HK$5&nbsp;million at that time.<ref>{{cite news|script-title=zh:假扮顧客裏應外合四匪械劫周大福掠金表值五百萬現塲為銅羅灣廣塲新店開業僅一月|date=13 December 1989|newspaper=Ta Kung Pao|location=Hong Kong|page=6}}</ref> In 1991, the Kowloon City branch suffered another armed robbery,<ref>{{cite news|script-title=zh:携手榴彈手槍進襲悍匪掃走百萬金飾擊傷護衛員職員騎劫的士逃去|date=21 July 1991|newspaper=Wah Kiu Yat Po|location=Hong Kong|page=1}}</ref> followed by the robbery of the {{Interlanguage link|China Building|zh|華人行}} branch in Central in September<ref>{{cite news|script-title=zh:三槍匪携手榴彈劫華人行周大福掠三百萬金飾遁入地鐵站逃去|date=11 September 1991|newspaper=Wah Kiu Yat Po|location=Hong Kong|page=4}}</ref> and again in October 1991.<ref>{{cite news|script-title=zh:四持槍悍匪劫中區周大福向追捕警員轟四響外籍督察左臂中彈|date=27 October 1991|newspaper=Wah Kiu Yat Po|location=Hong Kong|page=1}}</ref> In 1998 another branch in [[Paterson Street]], [[Causeway Bay]] was robbed by {{Interlanguage link|Kwai Ping-hung|zh|季炳雄}}.<ref>{{cite news|url=http://orientaldaily.on.cc/archive/20031225/new/new_a03cnt.html|script-title=zh:警懸二百萬緝季炳雄|date=25 December 2003|access-date=10 November 2018 |newspaper=Oriental Daily|location=Hong Kong|language=zh-hk}}</ref> Kwai Ping-hung, who was also involved in other crime where he was deemed Hong Kong's most wanted man.<ref>{{cite news|url=https://www.scmp.com/article/439240/raid-snares-hks-most-wanted-man|title=Raid snares HK's most-wanted man|date=25 December 2003|access-date=10 November 2018|newspaper=South China Morning Post|location=Hong Kong}}</ref>

In recent years, however, the company has seldom experienced armed robberies. Notorious robbers [[Yip Kai Foon]] and Kwai Ping-hung were arrested in 1996 and 2003, respectively.

===New World Development===
{{Main|New World Development|NWS Holdings|New World Department Store China}}
New World Development is one of the leading property developers based in Hong Kong. It has been listed on the [[Hong Kong stock exchange]] since 23 November 1972.<ref>{{cite web|url=https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=17&sc_lang=en|title=Equities Quote: New World Development|publisher=Hong Kong Exchanges and Clearing|access-date=19 November 2018}}</ref> The initial public offering price was HK$2, issuing about 96.75&nbsp;million of new shares.<ref>{{cite news|script-title=zh:新世界發展股票明日起接受申請|date=6 November 1972|newspaper=The Kung Sheung Evening News|publisher=[[Industrial and Commercial Daily Press]]|location=Hong Kong|language=zh-hk|page=8}}</ref> The shares were initially traded in 3 out of the 4 exchanges of Hong Kong, namely the [[Hong Kong Stock Exchange (1947–1986)|Hong Kong Stock Exchange]], {{Interlanguage link|Far East Exchange|zh|遠東交易所}} and [[Kam Ngan Stock Exchange]],<ref>{{cite news|script-title=zh:新世界發展認購踴躍 溢利滋長能力 受到各界認識|date=11 November 1972|newspaper=Wah Kiu Yat Po|location=Hong Kong|language=zh-hk|page=17}}</ref> the predecessors of the current [[Stock Exchange of Hong Kong]].

As of 2018, New World Development is the parent company of listed companies [[NWS Holdings]] ({{hkex|659}}, listed since 1997), [[New World Department Store China]] ({{hkex|825}}, listed since 2007) and former listed companies [[New World Hotels (Holdings)]] (acquired in 1976, privatized in 1990), and [[New World China Land]] (listed in 1999, privatized in 2016). New World Development also owned former listed companies [[NW China Investment]] (listed in Ireland, privatized), [[New World Infrastructure]] (listed in 1995, privatized as [[New World TMT]]), and [[Renaissance Hotel Group]] (listed in 1995,<ref name=NWD1995AR>{{cite book|url=http://www.nwd.com.hk/sites/default/files/ar1995e.pdf|title=1995 Annual Report|date=1995|access-date=19 November 2018|publisher=New World Development|location=Hong Kong}}</ref>{{rp|21}} sold in 1997).

As of 1986, Chow Tai Fook Enterprises (CTFE) owned 466,927,948 shares in New World Development,<ref name=NWD1986AR>{{cite book|url=http://www.nwd.com.hk/sites/default/files/ar1986e.pdf|title=1986 Annual Report|date=1986|accessdate=19 November 2018|location=Hong Kong|publisher=New World Development|language=en-hk, zh-hk|pages=7, 40}}</ref> or about 43% of the issued share capital. As of 2018, CTFE still owned 44.41% shares of NWD, or 4,535,634,444 shares.<ref name=NWD2018AR/>{{rp|94}}

New World Development started its expansion in the 1970s with the acquisition of numerous properties and companies. The flagship property, [[New World Centre]] was built on the former site of [[Holt's Wharf]], a former godown terminal that was owned by British companies [[Swire Group]] and [[Blue Funnel Line]]. In the first financial year after the [[initial public offering]] in November 1972, NWD had acquired 23 sites by paying HK$110&nbsp;million in cash, and about 101&nbsp;million new shares with a [[par value]] of HK$1 each.<ref name=NWD1973AR>{{cite book|url=http://www.nwd.com.hk/sites/default/files/ar1973e.pdf|title=1973 Annual Report|date=October 1973|accessdate=19 November 2018|location=Hong Kong|publisher=New World Development|language=en-hk, zh-hk}}</ref>{{rp|6, 11}} The issue of new shares and the acquisitions of the holding companies of properties such as Kowloon Town Development Company Limited (not to be confused with [[Kowloon Development Company]]) were completed in the 1973–74 financial year.<ref name=NWD1974AR>{{cite book|url=http://www.nwd.com.hk/sites/default/files/ar1974e.pdf|title=1974 Annual Report|date=1974|accessdate=19 November 2018|location=Hong Kong|publisher=New World Development|language=en-hk, zh-hk}}</ref> The company also formed joint ventures with fellow developer [[Sun Hung Kai Properties]] (SHK) and non-profit organisation [[Tung Wah Group of Hospitals]].<ref name=NWD1973AR/>{{rp|7}} [[Kwok Tak-seng]], patriarch of SHK, also served as a director of New World Development from the 1970s<ref name=NWD1973AR/>{{rp|3}} until his death in 1990.<ref name=NWD1990AR>{{cite book|url=http://cdn.nwd.com.hk/sites/default/files/ar1990e.pdf|title=1990 Annual Report|date=1990|access-date=11 November 2018|publisher=New World Development|location=Hong Kong}}</ref>{{rp|16}}

One of the initial rental holdings of NWD, Manning House, was in fact developed by Kin Kiu Enterprises ({{zh|t=建僑企業|labels=no}}) in 1965.<ref name=Manning/> It was reported that [[Cheng Yu-tung]], patriarch of Chow Tai Fook Jewellery, was one of the directors of Kin Kiu Enterprises at that time.<ref name=Manning>{{cite news|script-title=zh:中區萬年大厦 昨舉行奠基典禮|date=8 January 1965|newspaper=Wah Kiu Yat Po|location=Hong Kong|page=14|language=zh-hk}}</ref> Both Kin Kiu Enterprises and Manning House were part of NWD's initial wholly-owned subsidiaries and portfolio in 1973.<ref name=NWD1973AR/>{{rp|16, 18}} The 11th floor of Manning House also served as the headquarters of NWD.<ref name=NWD1973AR/>{{rp|3}} According to the news report, the known directors of Kin Kiu Enterprises were Young Chi-wan<ref name=Manning/> ({{zh|t=楊志雲|labels=no}}; notable for [[King Fook Jewellery]] and [[The Mira Hong Kong|Hotel Miramar]]), as well as K.W. Yue<ref name=Manning/> ({{zh|t=余基溫|labels=no}}, notable for [[The Mira Hong Kong|Hotel Miramar]]), who also served as the chairman of the company.<ref name=Manning/> As of 1973, Young and his son Albert Yeung Bing-ching ({{zh|t=楊秉正|labels=no}}) were the directors of NWD, of which Young also served as one of the two vice-chairmen.<ref name=NWD1973AR/> As of 1986, Albert Yeung and his brother Howard Yeung Ping-leung ({{zh|t=楊秉樑|labels=no}}) still served as members of the board of NWD.<ref name=NWD1986AR/>{{rp|2}} Albert also owned a small personal stake in NWD in 1986.<ref name=NWD1986AR/>{{rp|7}}

New World Hotels (Holdings), formerly [[Kai Tak Land Investment]], was incorporated in 1957 and was acquired by New World Development in October 1976.<ref name=NWD1976AR/>{{rp|10, 32}}<ref name=NWD1977AR/>{{rp|30}} Kai Tak Land Investment's Kai Tak Commercial Building was added to NWD's rental portfolio.<ref name=NWD1977AR/>{{rp|15}} In October 1976, NWD also acquired privately owned Timely Enterprises.<ref name=NWD1976AR>{{cite book|url=http://www.nwd.com.hk/sites/default/files/ar1976e.pdf|title=1976 Annual Report|date=1976|accessdate=11 November 2018|publisher=New World Development|location=Hong Kong|language=en-hk, zh-hk}}</ref>{{rp|10, 32}}<ref name=NWD1977AR>{{cite book|url=http://www.nwd.com.hk/sites/default/files/ar1977e.pdf|title=1977 Annual Report|date=1977|accessdate=19 November 2018|publisher=New World Development|location=Hong Kong|language=en-hk, zh-hk}}</ref>{{rp|30}} Timely Enterprises was the company that owned the American International Tower ({{zh|t=友邦行|labels=no}}; named after [[AIA Group]]), which was renamed {{Interlanguage link|New World Tower (Hong Kong)|zh|新世界大廈|lt=New World Tower}} (now New World Tower, tower 1) in 1980.<ref name=NWD2003AR/>{{rp|4}} It was the headquarters of New World Development<ref name=NWD2003AR>{{cite book|url=http://cdn.nwd.com.hk/sites/default/files/ar2003e.pdf|title=2003 Annual Report|date=2003|accessdate=19 November 2018|publisher=New World Development|location=Hong Kong|language=en-hk}}</ref>{{rp|4}} and Chow Tai Fook Enterprises. Construction companies, such as [[Hip Hing Construction]], {{Interlanguage link|Vibro (Hong Kong)|zh|惠保（香港）}}, and others were acquired by NWD circa 1973.<ref name=NWD1973AR/>{{rp|7}}

In the past, NWD also owned [[New World Telecommunications]], one of Hong Kong's major telecommunication companies. However, the sale of NWD to competitor [[HKBN]] in 2016 was described by ''Financial Times'' as part of "the process of succession planning [of the largest tycoon families of Hong Kong] as the founders reach retirement age or pass away.".<ref>{{cite news |url=https://www.ft.com/content/70a26012-750d-11e7-90c0-90a9d1bc9691 |archive-url=https://ghostarchive.org/archive/20221212001223/https://www.ft.com/content/70a26012-750d-11e7-90c0-90a9d1bc9691 |archive-date=12 December 2022 |url-access=subscription |title=Li Ka-shing agrees $2bn Hutchison fixed-line business sale |date=31 July 2017 |access-date=20 November 2017 |newspaper=Financial Times |first1=Arash |last1=Massoudi |first2=Don |last2=Weinland |url-status=live }}</ref> NWD also previously owned a minority stake in [[CSL New World Mobility]]. The stake was sold to the [[PCCW]] group in 2013. One-third of the share capital of [[Asia Television]] (ATV) was acquired in 1988,<ref>{{cite book|url=http://cdn.nwd.com.hk/sites/default/files/ar1988e.pdf|title=1988 Annual Report|date=1988|accessdate=19 November 2018|publisher=New World Development|location=Hong Kong|language=en-hk|pages=14}}</ref> but the stake was sold in the 1990s.

In the nearby enclave of [[Portuguese Macau]], NWD{{sic}} once owned an 85% stake of [[Macao Water]] (also known as Sociedade de Abastecimento de Águas de Macau) via a joint venture with French company [[Suez Lyonnaise des Eaux]] as of 1987.<ref name=macauelectricty>{{cite news|script-title=zh:一法國公司宣佈將投資澳門電力詳情將於本星期五公佈|date=25 June 1987|newspaper=Ta Kung Pao|location=Hong Kong|language=zh-hk|page=9}}</ref> The stake of the intermediate parent company of Macao Water was transferred to listed subsidiary New World Infrastructure in 1997.<ref name=NWD1998AR/>{{rp|41–42}} The same French company had attempted to acquire [[Companhia de Electricidade de Macau]] (CEM)<ref name=macauelectricty/> from [[Sociedade de Turismo e Diversões de Macau]] in 1987, by forming a joint venture with a company owned by [[Cheng Yu-tung]] {{sic}}.<ref>{{cite news|script-title=zh:澳門電力三成八股權中法能源昨宣佈收購|date=27 June 1987|newspaper=Ta Kung Pao|location=Hong Kong|language=zh-hk|page=9}}</ref> The stake of the aforementioned water and electricity joint venture, Sino-French Holdings (Hong Kong), held by Chow Tai Fook Enterpriese (CTFE), was sold to the listed second-tier subsidiary of CTFE, New World Infrastructure, in 1997 for HK$1&nbsp;billion<ref name=NWD1998AR>{{cite book|url=http://cdn.nwd.com.hk/sites/default/files/ar1998e.pdf|title=1998 Annual Report|date=1998|accessdate=19 November 2018|location=Hong Kong|publisher=New World Development|language=en-hk}}</ref>{{rp|41, 70}} The stake in Sino-French Holdings (Hong Kong) was then transferred to another listed subsidiary [[NWS Holdings]]. The indirect stake in CEM was sold in 2014.

As of 2018, New World Development owned 16 hotels,<ref name=hotellist/> but most of them have been closely associated with a hotel management unit, [[Rosewood Hotel Group]], that was privately owned by Chow Tai Fook Enterprises.

On top of using its own resources, New World Development also partnered with parent company Chow Tai Fook group on a number of redevelopment projects, such as the acquisition of a 90% stake in Kut Cheong Mansion ({{zh|t=吉祥大廈|labels=no}}) in [[North Point]] in the 2010s.<ref>{{cite news|url=https://ps.hket.com/article/59442/%E6%96%B0%E4%B8%96%E7%95%8C%E7%B5%B1%E4%B8%80%20%E5%90%89%E7%A5%A5%E5%A4%A7%E5%BB%88%E6%A5%AD%E6%AC%8A|script-title=zh:新世界統一 吉祥大廈業權|date=27 April 2014|access-date=10 November 2018|website=地產站 [Property Station] |publisher=[[Hong Kong Economic Times Holdings]]|language=zh-hk}}</ref> Chow Tai Fook Enterprises, via Sunbig Limited, sold a 40% stake in the aforementioned Kut Cheong Mansion to New World Development for HK$1.779&nbsp;billion in January 2015.<ref name=NWD2015AR>{{cite book|url=http://cdn.nwd.com.hk/sites/default/files/ar2015e.pdf|title=2015 Annual Report|date=2015|accessdate=19 November 2018|location=Hong Kong|publisher=New World Development|language=en-hk}}</ref>{{rp|22}}

In 2010, the Chinese translation of a book, ''[[Land and the Ruling Class in Hong Kong]]'', popularized the term {{zh|t=地產霸權|labels=no|l=real estate hegemony}} to describe Hong Kong's real estate tycoon families. The combined Chow Tai Fook–New World Development group was one of the families described in the book.<ref>{{cite book |title=Land and the Ruling Class in Hong Kong |edition=2nd |first=Alice |last=Poon |publisher=[[Enrich Professional Publishing]] |location=Singapore, Hong Kong |date=2011 |isbn=978-981-4339-10-0 |type=hardback |chapter=The Ruling Class |quote=In all cases, these property-cum-utility/public services conglomerates are controlled by powerful Hong Kong families: the Lis of the Cheung Kong/Hutchison group, the Kwoks of the Sun Hung Kai Properties group, the Lees of the Henderson group, the Chengs of the New World Development group, the Pao and Woo of the Wharf/Wheelock group and the Kadoories of the CLP Holdings group.|pages=22–23}}</ref> The owners of the Chow Tai Fook–New World Development group, the Cheng Yu-tung family, has been sometimes considered one of the [[four big families of Hong Kong#Other definitions|four big tycoon families of Hong Kong]].<ref>{{cite news|url=http://www.orangenews.hk/finance/system/2015/12/31/010026702.shtml|script-title=zh:【2015香港富豪排位】四大家族地位動搖 |date=31 December 2015|accessdate=18 October 2018|work=[[Orange News]]|language=zh-hk|location=Hong Kong}}</ref><ref>{{cite news |url=https://asia.nikkei.com/Spotlight/Cover-Story/After-Li-Ka-shing-Hong-Kong-s-property-tycoons-inherit-tough-market |title=After Li Ka-shing, Hong Kong's property tycoons inherit tough market |date=18 April 2018 |access-date=19 October 2018 |work=Nikkei Asian Review |first=Nikki |last=Sun}}</ref>

====NWS Transport Services====
[[NWS Holdings]], via NWS Transport Services, owned [[Citybus (Hong Kong)|Citybus]] and [[New World First Bus]], two of the [[Concession (contract)|franchised]] bus service providers in Hong Kong.<ref name="nwstbus">{{cite web|url=http://www.nwstbus.com.hk/company/structure/index.aspx?intLangID=1|publisher=New World First Bus|title=Citybus & NWFB - Members of NWS Holdings - Company Structure|accessdate=8 November 2018|archive-date=8 August 2017|archive-url=https://web.archive.org/web/20170808135728/http://www.nwstbus.com.hk/company/structure/index.aspx?intLangID=1|url-status=dead}}</ref> The two companies operate as a monopoly on the bus routes of Hong Kong Island, as well as some of the cross-[[Victoria Harbour|harbour]] routes. 

In the past, Citybus was owned by British company [[Stagecoach Group]]. In 2003 Chow Tai Fook Enterprises, via wholly-owned subsidiary Delta Pearl Limited, acquired the bus company for HK$1,646&nbsp;million, plus the refurbishment of Citybus' debt to third parties which amounted to HK$554&nbsp;million.<ref>{{cite book|url=https://www.stagecoach.com/~/media/Files/S/Stagecoach-Group/Attachments/media/publication-financial-reports/annual03.pdf|title=2003 Annual Report|date=2004|access-date=9 November 2018|publisher=Stagecoach Group|page=11|chapter=Operating review 2003}}</ref> In 2004, ownership was transferred to NWS Transport Services, a joint venture between listed portion ([[NWS Holdings]]) and the unlisted portion of Chow Tai Fook Enterprises. NWS Transport Services also owned New World First Bus and [[New World First Ferry]]. In December 2016, NWS Holdings acquired the remaining 50% share of NWS Transport Services from parent company Chow Tai Fook Enterprises, floating the bus businesses indirectly on the stock exchange.<ref>{{cite web|url=http://www.nwstbus.com.hk/company/history/index.aspx?intLangID=1|title=About Citybus and NWFB > History|access-date=9 November 2018|publisher=NWS Transport Services|location=Hong Kong|archive-date=8 August 2017|archive-url=https://web.archive.org/web/20170808132849/http://www.nwstbus.com.hk/company/history/index.aspx?intLangID=1|url-status=dead}}</ref> The price was HK$1.38&nbsp;billion.<ref>{{cite news|url=http://www.thestandard.com.hk/section-news.php?id=176436|title=Luxury hotel on track|date=17 November 2016|access-date=9 November 2018|newspaper=The Standard|publisher=Sing Tao News Corporation|location=Hong Kong|first=Carrie|last=Chen}}</ref>

===Goshawk Aviation===
Goshawk Aviation was a 50–50 joint venture of Chow Tai Fook Enterprises and associate company [[NWS Holdings]].

In June 2018, Goshawk Aviation acquired Irish-based Sky Aviation Leasing International, an aviation leasing company.<ref>{{cite news|url=https://www.reuters.com/article/us-nws-lessors-sky-aviation/hong-kongs-nws-holdings-jv-to-buy-irelands-sky-aviation-idUSKBN1JI0XY|title=Hong Kong's NWS Holdings JV to buy Ireland's Sky Aviation|date=22 June 2018|access-date=9 November 2018|work=Reuters}}</ref><ref>{{cite press release|url=https://www.goshawk.aero/latest/goshawk-aviation-closes-acquisition-of-sky-leasings-irish-subsidiary/|title=Goshawk Aviation closes acquisition of SKY Leasing's Irish subsidiary|date=17 September 2018|access-date=9 November 2018|publisher=Goshawk Aviation}}</ref><ref>{{cite news|url=https://www.flightglobal.com/news/articles/goshawk-to-buy-sky-leasings-51-aircraft-dublin-uni-449654/|title=Goshawk to buy SKY Leasing's 51-aircraft Dublin unit|date=22 June 2018|access-date=9 November 2018|website=flightglobal.com|location=Singapore|first=Greg|last=Waldron}}</ref> The company also ordered 20 [[A320neo]] from [[Airbus]] in July 2018.<ref>{{cite press release|url=https://www.airbus.com/newsroom/press-releases/en/2018/07/goshawk-aviation-limited-orders-20-a320neo.html|title=Goshawk Aviation Limited orders 20 A320neo|date=16 July 2018|access-date=9 November 2018|publisher=Airbus}}</ref> In a separate deal, Goshawk Aviation ordered 20 [[Boeing 737 MAX]]s.<ref name=Boeing>{{cite press release|url=http://boeing.mediaroom.com/2018-07-16-Boeing-Goshawk-Aviation-Announce-Order-for-20-737-MAXs|title=Boeing, Goshawk Aviation Announce Order for 20 737 MAXs|date=16 July 2018|access-date=9 November 2018|publisher=Boeing|location=Farnborough|agency=PRNewswire}}</ref> The combined price of the two deals was estimated at US$4.5&nbsp;billion.<ref>{{cite news|url=https://www.scmp.com/business/companies/article/2155856/hong-kong-owned-goshawk-aviation-cheng-familys-aircraft-leasing|title=Hong Kong-owned Goshawk Aviation places US$4.5 billion order for 40 jets from Airbus and Boeing|date=18 July 2018|access-date=9 November 2018|newspaper=South China Morning Post|location=Hong Kong|publisher=South China Morning Post Publishers ([[Alibaba Group]])|language=en-hk|author=Liu Yujing}}</ref>

Brian Cheng, son of Henry Cheng and grandson of Cheng Yu-tung, is the chairman of Goshawk Aviation.<ref name=Boeing/>

===Hotel divisions===
{{see also|New World Hotels (Holdings)|Rosewood Hotel Group}}

On top of [[New World Development]]'s investments in hotel properties and hotel management, Chow Tai Fook Enterprises (CTFE) also made direct investments in these areas.

In 1990, Chow Tai Fook Enterprises partnered with associate company New World Development to privatize [[New World Hotels (Holdings)]], a sub-holding listed company of New World Development in the hotel business. Chow Tai Fook Enterprises owned a 36% stake (indirectly, via Beames Holdings) in New World Hotels (Holdings) after the deal, while New World Development owned the remaining 64% indirectly.<ref>{{cite news |script-title=zh:新世界與周大福聯手昨建議將新店私有化每股作價六元二角五仙料斥資約九億泰盛持百分九點二新店動向惹人矚目|date=23 March 1990|newspaper=Ta Kung Pao|page=21|language=zh-hk|location=Hong Kong}}</ref>

In July 1997, some of the hotels from the former New World Hotels (Holdings) portfolio were sold by New World Development to CTF Holdings, which was owned by [[Henry Cheng]] and his employee and brother-in-law William Doo Wai-hoi at that time.<ref>{{cite news|url=https://www.scmp.com/article/205462/new-world-us80m-hotels-deal|title=New World in US$80m hotels deal|date=28 July 1997|access-date=10 November 2018|newspaper=South China Morning Post|first=Peggy|last=Sito|location=Hong Kong}}</ref><ref>{{cite book|url=http://cdn.nwd.com.hk/sites/default/files/ar1998e.pdf|title=1998 Annual Report|date=1998|accessdate=11 November 2018|publisher=New World Development|location=Hong Kong}}</ref>{{rp|70}} As of 2018, CTF Holdings is a wholly-owned subsidiary of Chow Tai Fook Enterprises.<ref name=NWD2018AR>{{cite book|url=https://cms.nwd.com.hk/downloadIR/report/164/ar2018e_2.pdf|title=2018 Annual Report|date=19 October 2018|access-date=10 November 2018|publisher=New World Development|location=Hong Kong}}</ref>{{rp|96}}

However, CTFE's 36% stake in Beames Holdings (and its subsidiaries such as New World Hotels (Holdings)) was sold back to New World Development in November 2015. Two hotels from the former New World Hotels (Holdings), the [[Grand Hyatt Hong Kong]] and Renaissance Harbour View, changed ownership from Beames Holdings to New World Development (via Beames Holdings) and [[Abu Dhabi Investment Authority]] in a 50–50 split in April 2015.<ref name=NWD2015AR/>{{rp|38, 69}}<ref>{{cite press release|url=http://www3.hkexnews.hk/listedco/listconews/SEHK/2015/0430/LTN20150430093.pdf|title=DISCLOSEABLE TRANSACTION - FORMATION OF JOINT VENTURE COMPANY FOR THE ACQUISITION, CONTROL AND MANAGEMENT OF CERTAIN OF THE GROUP'S HOTELS |date=30 April 2015|access-date=9 November 2018|publisher=New World Development|via=Hong Kong Exchanges and Clearing website}}</ref><ref>{{cite press release|url=http://www3.hkexnews.hk/listedco/listconews/sehk/2015/1120/ltn20151120635.pdf|title=CONNECTED TRANSACTION ACQUISITION OF 36% INTEREST IN BEAMES HOLDINGS LIMITED |date=20 November 2015|accessdate=10 November 2018|publisher=New World Development |location=Hong Kong|via=Hong Kong Exchanges and Clearing website}}</ref>

In July 2015, [[New World China Land]], another second-tier listed subsidiary of Chow Tai Fook Enterprises, sold the hotel management unit [[Rosewood Hotel Group]] to Chow Tai Fook Enterprises. Rosewood Hotel Group owned three brands: penta, New World, and [[Rosewood Hotels & Resorts|Rosewood]].<ref>{{cite news|url=http://www3.hkexnews.hk/listedco/listconews/SEHK/2015/0703/LTN20150703371.pdf|title=JOINT ANNOUNCEMENT|date=3 July 2015|access-date=9 November 2018|publisher=New World Development; New World China Land|location=Hong Kong|via=Hong Kong Exchanges and Clearing website}}</ref><ref>{{cite news|url=https://www.scmp.com/business/companies/article/1832330/new-world-china-land-sells-hotel-management-unit-parent-chow-tai|title=New World China Land sells hotel management unit to parent Chow Tai Fook|date=3 July 2015|access-date=9 November 2018|newspaper=South China Morning Post|location=Hong Kong|first=Peggy|last=Sito}}</ref> The [[pentahotels]] unit was acquired by Rosewood Hotel Group from aforementioned CTF Holdings in December 2013.<ref>{{cite press release|url=http://www3.hkexnews.hk/listedco/listconews/sehk/2013/1216/ltn20131216440.pdf|title=CONNECTED TRANSACTION ACQUISITION OF A HOTEL MANAGEMENT COMPANY|date=16 December 2013|access-date=11 November 2018|publisher=New World Development; New World China Land|location=Hong Kong|via=Hong Kong Exchanges and Clearing}}</ref>

Some of the hotels of New World Development, as of 2018, were still managed by Rosewood Hotel Group.<ref name=hotellist>{{cite web|url=https://www.nwd.com.hk/corporate/core-business/hotel|title= Home > Corporate > Core Business > Hotels|access-date=9 November 2018|publisher=New World Development}}</ref>

In 2016, CTFE acquired [[Baha Mar]] Resort, a mega-resort project in [[Nassau, Bahamas]].<ref name=BVInews>{{cite news|url=http://www.virginislandsdailynews.com/news/chinese-firm-with-bvi-links-buys-nassau-mega-resort/article_d64c8838-cd8e-5b6f-94f8-b941a1db5726.html|title= Chinese firm with BVI links buys Nassau mega-resort |date=14 December 2016|access-date=9 November 2018|newspaper=Virgin Islands Daily News|url-access=limited|first=Jonathan|last=Austin}}</ref><ref>{{cite press release|title=Chow Tai Fook Enterprises Limited to own and operate Baha Mar Resort|publisher=Chow Tai Fook Enterprises|date=December 12, 2016|url=https://www.prnewswire.com/news-releases/chow-tai-fook-enterprises-limited-to-own-and-operate-baha-mar-resort-300376628.html|accessdate=2018-06-05|agency=PR Newswire}}</ref> The 3 hotels of Baha Mar Resort were then managed by Rosewood, [[Grand Hyatt]], and [[SLS Hotels]], respectively.<ref>{{cite news|url=https://www.nytimes.com/2017/04/17/travel/bahamas-baha-mar-resort-nassau-hotel-casino-opening.html|title=In the Bahamas, a Long-Awaited Opening for Baha Mar Resort|date=17 April 2017|access-date=9 November 2018|newspaper=New York Times|url-access=limited}}</ref>

Rosewood Hotel Group was headed by Sonia Cheng, daughter of [[Henry Cheng]] and granddaughter of the late [[Cheng Yu-tung]], patriarchs of CTFE and NWD.<ref>{{cite news|url=https://www.forbes.com/sites/forbesasia/2017/07/26/hong-kong-homecoming-sonia-cheng-opens-new-world-hotels-for-the-family-empire/#665d7c1564a1|title=Next Tycoon: Hong Kong's Sonia Cheng Opens New World Hotels For The Family Empire|date=August 2017|magazine=Forbes Asia|first=Ron|last=Gluckman|access-date=9 November 2018}}</ref>

==Other investments==
Chow Tai Fook Capital owned shares of listed companies [[Giordano (store)|Giordano]], [[Hsin Chong]], [[Integrated Waste Solutions Group Holdings]], [[Mongolia Energy Corporation]], [[New Times Energy]], and [[Shengjing Bank]] since 2015. These shares were personally owned by Cheng Yu-tung, patriarch of the Chow Tai Fook group, in the past.<ref>{{cite news|url=http://www.chinadaily.com.cn/hkedition/2015-12/30/content_22862438.htm|title=Tycoon Cheng Yu-tung transfers HK$3.8b shares to family firm|date=30 December 2015|access-date=8 November 2018|newspaper=[[China Daily]] (Hong Kong edition)|language=en|first=Oswald|last=Chan|agency=Bloomberg}}</ref> If counting [[underlying]] shares, as of 2018, Chow Tai Fook Capital, via Chow Tai Fook Nominee, owned 173.30% of issued shares of Mongolia Energy Corporation, as the [[denominator]] did not count underlying shares.<ref>{{cite book|url=http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/0718/LTN20180718407.pdf|title=2018 Annual Report|date=18 July 2018|access-date=9 November 2018|chapter=Director's report|publisher=Mongolia Energy Corporation|via=Hong Kong Exchanges and Clearing website|page=46}}</ref> Chow Tai Fook Nominee, as of 31 December 2017, owned 11.65% of the [[H share]]s of Shengjing Bank, equivalent to 3.10% of total share capital.<ref>{{cite book|url=http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/0415/LTN20180415035.pdf|title=2017 Annual Report|chapter=INTERESTS AND SHORT POSITIONS OF SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS|page=75|date=15 April 2018|access-date=9 November 2018|publisher=Shengjing Bank|via=Hong Kong Exchanges and Clearing website}}</ref>

Chow Tai Fook Nominee also formed a private equity fund with listed company [[Credit China Holdings]] and VMS Investment, for "investing in collateral-backed lending transaction" in China in 2013.<ref>{{cite press release|url=http://csfgroup.com/admin/Product_Photo/files/2013070916285517_en.pdf|title=Credit China Co-operates with Chow Tai Fook Nominee Limited and VMS Investment Group Limited In a Private Fund|date=28 June 2013|access-date=9 November 2018|publisher=Credit China Holdings|agency=Strategic Financial Relations|location=Hong Kong|archive-date=9 November 2018|archive-url=https://web.archive.org/web/20181109153356/http://csfgroup.com/admin/Product_Photo/files/2013070916285517_en.pdf|url-status=dead}}</ref> Chow Tai Fook Nominee acquired 272&nbsp;million H shares of [[Ping An Insurance]] in 2011.<ref>{{cite news|url=https://www.wsj.com/articles/SB10001424052748704893604576200490344471246|title=Ping An to Sell $2.5 Billion Stake to Chow Tai Fook|first=Fiona|last=Law|date=14 March 2011|access-date=9 November 2018|work=Wall Street Journal|location=New York City|url-access=limited}}</ref>

In 1990, it was reported that Chow Tai Fook Enterprises had formed a joint venture ({{zh|t=新力投資}}) in Singapore, in which Chow Tai Fook Enterprises owned a 50% stake. The joint venture would invest in South East Asia.<ref>{{cite news|script-title=zh:多名港商合作投資東南亞新力投資昨在星成立資本額四億五周大福佔五成股權|date=13 December 1990|newspaper=Ta Kung Pao|location=Hong Kong|page=22|language=zh-hk}}</ref>

In 2017, Chow Tai Fook Enterprises acquired Australia-based [[Alinta Energy]] from a private equity fund for AU$4&nbsp;billion,<ref>{{cite news|url=https://www.scmp.com/business/companies/article/2079584/hong-kongs-chow-tai-fook-buys-australias-alinta-energy-us31bn|title=Hong Kong's Chow Tai Fook buys Australia's Alinta Energy for US$3.1bn|date=16 March 2017|access-date=10 November 2018|newspaper=South China Morning Post|location=Hong Kong|first=Eric|last=Ng}}</ref><ref>{{cite news|url=https://www.afr.com/street-talk/alinta-energy-back-in-talks-with-strategic-buyer-sources-20170315-guz34x|title=Alinta Energy sold to Hong Kong's Chow Tai Fook Enterprises for $4 billion-plus|work=The Australian Financial Review|publisher=Fairfax Media|language=en-au|date=16 March 2017|access-date=9 November 2018|url-access=limited|first1=Sarah|last1=Thompson|first2=Anthony|last2=Macdonald|first3=Joyce|last3=Moullakis}}</ref> as well as [[Loy Yang Power Station|Loy Yang B power station]] from French multi-national company [[Engie]] for [AU]$1.2&nbsp;billion.<ref>{{cite news|url=https://www.abc.net.au/news/2017-11-23/coal-fired-loy-yang-b-sold-to-alinta-owners/9185354|title=Coal-fired Loy Yang B power station sold to Alinta Energy's owners Chow Tai Fook Enterprises|date=23 November 2017|access-date=9 November 2018|publisher=Australian Broadcasting Corporation|first=Melinda|last=Ogden}}</ref><ref>{{cite press release|url=https://www.alintaenergy.com.au/about-us/news/loy-yang-b-power-station-acquisition|title=Loy Yang B Power Station Acquisition|date=24 November 2017|access-date=9 November 2018|publisher=Alinta Energy|quote=Alinta Energy's owner, Chow Tai Fook Enterprises (CTFE), has today entered into a conditional binding agreement to acquire the Loy Yang B power station.}}</ref> It was reported that the deal was partially financed by loans from 7 financial institutions, including the [[Bank of China (Hong Kong)]].<ref>{{cite news|url=https://cn.reuters.com/article/路透基点：香港周大福筹措170亿港元贷款，以收购澳洲Alinta-TRLPC-idCNL4S1LF1F7|script-title=zh:香港周大福筹措170亿港元贷款，以收购澳洲Alinta--TRLPC|date=29 August 2017|access-date=10 November 2018|work=路透基点|publisher=Reuters|language=zh-hans|editor1-last=Gong |editor1-first=Fang (龚芳)}}</ref>

In March 2018, Chow Tai Fook{{sic}} acquired new shares in the [[Star Entertainment Group]].<ref>{{cite news|url=https://www.afr.com/business/gambling/the-star-raises-490m-from-chow-tai-fook-far-east-promises-dividend-boost-20180328-h0y3oj|work=Australian Financial Review|title=The Star raises $490m from Chow Tai Fook, Far East, promises dividend boost|date=29 March 2018|access-date=14 November 2018|first=Jessica|last=Gardner}}</ref>

In 2018, Chow Tai Fook Enterprises, via a subsidiary ({{zh|s=周大福投资}}), acquired a 30% share in [[Yunnan Jinggu Forestry]], listed on the [[Shanghai Stock Exchange]].<ref>{{cite news|url=http://www.eeo.com.cn/2018/0707/331875.shtml|script-title=zh:香港豪门郑裕彤家族罕见现身A股 周大福高溢价接手的ST公司连续涨停！|date=7 July 2018|access-date=9 November 2018|newspaper=经济观察报 |last1=Zheng |first1=Yuxin (郑淯心) |language=zh-cn}}</ref>

Listed company [[International Entertainment Corporation]] (IEC) was a second-tier subsidiary of Chow Tai Fook Enterprises. Chow Tai Fook Enterprises, via Mediastar International, owned 74.78% shares of IEC as of 31 March 2014.<ref>{{cite book|url=http://www.ientcorp.com/attachment/pdf/1513672646fKHyl.pdf|title=2013–14 Annual Report|date=18 July 2014|access-date=12 November 2018|publisher=International Entertainment Corporation|location=Hong Kong|chapter=Report of the Directors|page=17}}</ref> However, Chow Tai Fook Enterprises decreased its holdings to 4.89% as of April 2018.<ref>{{cite news|url=http://www.etnet.com.hk/www/tc/news/categorized_news_detail.php?category=latest&newsid=ETN280411503|script-title=zh:周大福鄭氏家族減持國際娛樂(1009) 5100萬股，每股2元|date=11 April 2018|access-date=12 November 2018|website=etnet.com.hk|publisher=[[Hong Kong Economic Times Holdings]]|language=zh-hk}}</ref>

In 1999, it was alleged that the Chow Tai Fook group's [[Tai Fook Securities]] division had lowered its commission rate below the Stock Exchange of Hong Kong's minimum, through a gift scheme from Chow Tai Fook Jewellery and [[New World Telephone]].<ref>{{cite news|url=https://www.scmp.com/article/286531/tai-fook-denies-gift-scheme-breaks-rule-commission-rate|title=Tai Fook denies gift scheme breaks rule on commission rate|date=29 June 1999|access-date=8 November 2018|newspaper=South China Morning Post|location=Hong Kong}}</ref>
==Links to Organized Crime==
In 2015, the [[Queensland]] government regulators approved Chow Tai Fook's involvement with the $3.5 billion [[Queen's Wharf, Brisbane]] casino through their investment in [[Star Entertainment Group]]; in 2022, a [[The Weekend Australian]]'s investigative report wrote they had found that the officials let them win the deal despite being aware of Chow Tai Fook's likely links to [[Triad (organized crime)|Triad groups]], <ref>[https://www.theaustralian.com.au/nation/politics/red-flags-raised-over-brisbane-queens-wharf-casino-bid/news-story/4a049f768da093cb1a39074e4218696b Red flags raised on casino bid] ''The Australian'' (subscription required)</ref> the [[ABC News (Australia)]] then looked into it further, reporting that Chow Tai Fook Enterprises (CTFE) has been linked to Chinese organized crime for decades, but the officials they had reached claimed that they were not aware of this at the time of the afore-mentioned approval.<ref>{{cite news|url=https://www.abc.net.au/news/2022-08-22/star-brisbane-casino-chow-tai-fook-triad-links/101341862|date=21 August 2022|access-date=5 October 2022|title=Queensland government endorsed Star casino stake for Hong Kong company with Chinese Triad links|website=abc.net.au|publisher=[[ABC News (Australia)]]}}</ref> According to news reports, Chow Tai Fook has run joint ventures in the gambling industry with the high profile figures [[Stanley Ho|Ho Hung Sun]], [[Wan Kuok Koi]] and [[Chau Cheok Wa]]; both Wan and Chau are reputedly high level members of the Chinese triad group [[14K Triad|14K]]. The Queensland government subsequently found Star unsuitable to hold a casino license following an investigation into money laundering, and ordered further investigation into CTFE's ties to organized crime and on how they were approved for a casino license.<ref>{{cite news|url=https://www.abc.net.au/news/2022-10-06/star-entertainment-queensland-unsuitable-show-cause-fentiman/101507138|date=6 October 2022|access-date=6 October 2022|title=Star Entertainment Group unsuitable to hold casino licence in Queensland, attorney-general finds|website=abc.net.au|publisher=[[ABC News (Australia)]]}}</ref>

==Organization chart==
{{Tree list}}
* Chow Tai Fook Capital
** Chow Tai Fook (Holding)
***Chow Tai Fook Enterprises
****{{Tree list/branching}}
*****Goshawk Aviation (50-50 joint venture with NWS Holdings)
*****[[Rosewood Hotel Group]]
******New World Hotels & Resorts
******[[Rosewood Hotels & Resorts]]
*****[[Alinta Energy]]
*****[[Loy Yang Power Station|Loy Yang B power station]]
****{{zh|s=周大福投资|labels=no}}
*****[[Yunnan Jinggu Forestry]]
****CTF Holdings Limited
**** Mediastar International
*****[[International Entertainment Corporation]] (sold)
****[[New World Development]]
*****[[New World China Land]]
*****[[New World Department Store China]]
*****[[New World Hotels (Holdings)]]
*****New World Telephone Holdings
******[[New World Telecommunications]] (sold)
*****[[NWS Holdings]]
******NWS Transport Services
*******[[Citybus (Hong Kong)|Citybus]] (sold)
*******[[New World First Bus]] (sold)
*******[[New World First Ferry]] (sold)
******[[Hip Hing Construction]]
******SUEZ NWS Limited (joint venture with [[Suez Environnement]], formerly known as Sino-French Holdings (Hong Kong) Limited)<ref name=CEM>{{cite news|url=https://www.reuters.com/article/us-nws-macau/hong-kongs-nws-says-to-sell-612-million-macau-power-stake-to-beijing-idUSBREA4F00S20140516|title=Hong Kong's NWS says to sell $612 million Macau power stake to Beijing|date=16 May 2014|accessdate=1 July 2018|work=Reuters}}</ref><ref>{{cite press release|url=https://www.nws.com.hk/pdf/en/PR20140516E.pdf|title=NWS Holdings disposes of its interest in Macau Power|date=16 May 2014|access-date=15 November 2018|publisher=NWS Holdings}}</ref><ref>{{cite web|url=https://www.macaowater.com/frontend/web/index.php?r=/aboutus/index&purl=company_profile|title=About us|access-date=19 November 2018|publisher=Macao Water}}{{Dead link|date=July 2021 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>
*******Sino-French Energy Development (sold)<ref name=CEM/>
********[[Companhia de Electricidade de Macau]] (sold)<ref name=CEM/>
*******[[Macao Water]]
**** Chow Tai Fook Jewellery Group
***** Chow Tai Fook Jewellery
**Chow Tai Fook Nominee
***[[Mongolia Energy Corporation]]
{{Tree list/end}}
{{expand section|date=November 2018}}

==Namesakes ==
* [[Guangzhou CTF Finance Centre]]
* [[Tianjin CTF Finance Centre]]
* [[Wuhan Chow Tai Fook Finance Centre]]
* [[Chow Tai Fook Centre (Hong Kong)|Chow Tai Fook Centre]], in Mong Kok, Kowloon, Hong Kong ({{zh|t=周大福商業中心|labels=no}})
* Chow Tai Fook ''commercial building'', Central, Hong Kong Island, Hong Kong ({{zh|t=周大福商業大廈|labels=no}})<ref>{{cite news|script-title=zh:中區周大福大廈地下至五樓交行購得五層樓宇昨與美漢達成此項億餘元交易|date=27 July 1980|newspaper=[[Ta Kung Pao]]|location=Hong Kong|page=4}}</ref>

==See also==
* [[Eden of Coronet guitar]]
* [[Chow Sang Sang]], another jewellery store chain of Hong Kong
* [[King Fook Holdings]], another jewellery store chain of Hong Kong
* [[Lukfook]], another jewellery store chain of Hong Kong

==References==
{{reflist}}

==Further reading==
* {{cite book|script-chapter=zh:稱雄香江|url=https://books.google.com/books?id=GNJhAAAAIAAJ |script-title=zh:香港華資財團|trans-title=Ethnic Chinese Business Groups of Hong Kong|author=Feng Bangyan|date=1997|publisher=Joint Publishing (Hong Kong)|isbn = 9789620414183|language=zh-hk}}<!--removed pinyin as book was published in Hong Kong-->
* {{cite news|url=https://www.wsj.com/articles/SB10001424052970204224604577031570735814542|title=Huge for Its Bling, Unknown in West|date=12 November 2011|first1=Jason|last1=Chow|first2=Prudence|last2=Ho|newspaper=The Wall Street Journal|location=New York City |url-access=subscription }}

==External links==
{{Commons category}}
* [http://www.chowtaifook.com Official website of Chow Tai Fook Jewellery]
* [http://www.ctfjewellerygroup.com/ Official website of Chow Tai Fook Jewellery Group]
{{New World Development|state=autocollapse}}{{Hang Seng Index}}
[[Category:New World Development]]
[[Category:1929 establishments in China]]
[[Category:1966 establishments in Hong Kong]]
[[Category:Conglomerate companies established in 1929]]
[[Category:Conglomerate companies of Hong Kong]]
[[Category:Family-owned companies of Hong Kong]]
[[Category:Hospitality companies of Hong Kong]]
[[Category:Jewellery retailers of Hong Kong]]
[[Category:Jewellery companies of Hong Kong]]
[[Category:Multinational companies headquartered in Hong Kong]]
[[Category:Offshore companies of the British Virgin Islands]]
[[Category:Real estate companies of Hong Kong]]
[[Category:Telecommunications companies of Hong Kong]]