On June 24, Chow Tai Fook fell 3.04% in regular trading, trading at 11.48 HKD/share, with turnover of approximately 14.48 million HKD. The decline follows a sustained selloff in gold-linked equities as international gold prices extended their losing streak.
On the news front, COMEX gold futures have fallen for six consecutive weeks, with London spot gold breaking below the key $4,200/oz support level, retreating over 25% from its yearly high. Domestically, branded pure gold jewelry prices have dropped to approximately 1,260 yuan/gram, down nearly 450 yuan from earlier peaks. The persistent gold price decline directly pressures Chow Tai Fook's inventory valuation — the company held approximately 637.16 billion HKD in inventory as of its latest fiscal year-end with an inventory turnover period of 364 days — and dampens consumer purchasing willingness, with offline foot traffic reportedly declining significantly and multiple stores launching promotional discounts.
Within the Specialty Stores sector, the broader segment remained under pressure. Among individual stocks, POP MART up 1.15%, CTG Duty-Free down 1.93%, Luk Fook Holdings down 2.99%, Everest Gold down 2.60%, Sa Sa International flat at 0%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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