CLSA Maintains 'Hold' Rating on Chow Tai Fook, Price Target at HKD 10.70

Deep News09:41

Major segments include individual stock selection, data center, market trends, capital flows, and simulated trading.

CLSA issued a research report noting that CHOW TAI FOOK (01929) demonstrated resilience in its retail sales and same-store sales growth for the first quarter of the 2027 fiscal year ending June 30. The company's retail value in mainland China and Hong Kong/Macau increased by 10.7% and 44.8% year-on-year, respectively, while same-store sales growth reached 19.6% and 41.7%. However, foot traffic in stores slowed in July due to the impact of weather conditions and the World Cup events. CLSA maintains a "Hold" rating on CHOW TAI FOOK, with a target price of HKD 10.70.

The bank indicated that, unlike the previous year, gram-priced gold products outperformed fixed-price products during the period. It expects that if the gold price remains around USD 4,100 per ounce, the product mix may shift toward gram-priced items, which could impact the company's gross profit margin and operating profit margin. Nevertheless, supported by hedging gains, net profit is anticipated to remain stable.

Comprehensive information and precise analysis are available exclusively on Sina Finance App.

Editor: Lu Yujun

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