Convenience Retail Asia Limited (“CRA” HKG: 0831) is a listed retailing member of the Li & Fung Group. It operates a total of 600 retail stores under the Circle K, the Saint Honore Cake Shop and Zoff brands in Hong Kong, Macau and the Pearl River Delta. 

In this article, we will examine the Group’s business, management and financials to determine whether it is worth an investment.   

Business Highlights

CRA has three strategic business units, namely:

Circle K: Circle K is an international brand for a 24-hour service convenience store chain. The first Circle K convenience store in Hong Kong opened in 1985. Today, over 380 stores throughout Hong Kong and Macau serve close to 10% of the population every day. All the Circle K stores in Hong Kong are company-owned-and-managed. Meanwhile, Circle K stores in Macau and the Pearl River Delta operate under sub-franchised arrangements. Saint Honore: Saint Honore manufactures, distributes and sells bakery...