Group 1 - International gold prices reached a historic high of $3,795 per ounce on September 23, with a slight increase to $3,777.9 per ounce at the time of reporting [2] - Domestic gold jewelry prices also rose, with Chow Sang Sang's gold jewelry priced at 1,100 yuan per gram, an increase of 10 yuan per gram from the previous day [2] - Stocks of companies such as Western Gold, Silver, Shandong Gold, and Zijin Mining saw an increase in share prices on the same day [4] Group 2 - Deutsche Bank attributed the record high gold prices to investor panic and concerns over significant downside risks in the stock market, viewing gold as a safe haven during times of turmoil [4] - Long-term prospects for gold prices remain positive, with analysts suggesting that the recent Federal Reserve rate cut may lead to a favorable environment for gold, despite short-term profit-taking pressures [5] - Goldman Sachs projected that gold prices could soar to $4,000 per ounce by 2026 under baseline scenarios, with potential peaks of $4,500 and $5,000 per ounce under tail risk scenarios [5]

Core Viewpoint - International gold prices continue to rise, leading to an increase in domestic gold jewelry prices [1] Price Adjustments - Chow Tai Fook and Chow Sang Sang gold jewelry prices increased from 1085 CNY per gram to 1098 CNY per gram, a rise of 13 CNY overnight [1] - Chow Sang Sang gold jewelry prices increased from 1090 CNY per gram to 1100 CNY per gram, a rise of 10 CNY overnight [1]

Group 1 - Investors' optimistic expectations regarding the Federal Reserve's continued interest rate cuts are driving gold prices higher, with spot gold in London reaching over $3,740 per ounce and New York futures surpassing $3,770 per ounce, both setting historical records [1] - As of the close on Monday, the December gold futures on the New York Mercantile Exchange were reported at $3,775.1 per ounce, reflecting an increase of 1.87% [1] - On September 23, spot gold prices rose above $3,750 per ounce, continuing to set new historical highs, with the London spot gold quoted at $3,752.32 per ounce [1] Group 2 - In response to the rising international gold prices, several gold jewelry brands have increased their gold jewelry prices, with Chow Sang Sang's gold price exceeding ¥1,100 per gram, quoted at ¥1,105 per gram, an increase of ¥15 per gram from the previous day [3] - Other brands such as Lao Miao and Chow Tai Fook have also adjusted their prices, with Lao Miao's gold quoted at ¥1,097 per gram, and Chow Tai Fook's 999 gold priced at ¥1,055 per gram and 999.9 gold at ¥1,065 per gram [3]

Core Viewpoint - The recent surge in international gold prices has led to an increase in domestic gold jewelry prices, with significant price adjustments observed across various brands [1][4][6]. Price Adjustments - As of September 22, the spot gold price reached a peak of 3719 yuan, reflecting a 0.85% increase [1]. - Domestic gold jewelry prices have risen, with per gram prices hovering around 1090 yuan [1]. - The price increase for fixed-price gold jewelry varies, with some items seeing price hikes from hundreds to thousands of yuan [4]. Consumer Behavior - There has been a noticeable increase in consumer interest in fixed-price gold jewelry, attributed to the lag in price adjustments compared to rising gold prices [6]. - Some consumers express concerns about the high premiums associated with fixed-price products, indicating that the perceived value may not justify the cost [6][7]. Brand Responses - Several brands, including Chow Tai Fook and Chao Hong Ji, have begun updating their price tags in response to the rising gold prices, with some stores changing prices overnight [2][4]. - Chow Tai Fook has confirmed that fixed-price gold products will see price increases starting in October, with specific adjustments to be announced later [5]. Market Dynamics - The increase in gold prices has led to a mixed response from consumers, with some viewing fixed-price items as a better deal in the short term, while others criticize the high labor costs associated with these products [6][7]. - The overall market trend will depend on future fluctuations in gold prices and the timing of brand price adjustments [7].

Group 1 - Gold prices have reached a new historical high of $3720 per ounce, marking an increase of nearly 8% for the month [3] - Domestic gold jewelry prices have surpassed ¥1080 per gram, with brands like Chow Tai Fook and Lao Feng Xiang exceeding ¥1085 per gram [3] - The price of Chow Sang Sang's gold jewelry has reached ¥1090 per gram [3] Group 2 - The current geopolitical situation and uncertainties in future economic policies are contributing to the support of gold prices, particularly in the context of a potential interest rate cut by the Federal Reserve [3] - A weakening U.S. economy and the ongoing trend of "de-dollarization" in the global monetary system are expected to provide long-term support for gold prices [3]

CHOW SANG SANG HOLDINGS INTERNATIONAL LIMITED 周生生集團國際有限公司* (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） （Stock Code 股份代號：116） NOTIFICATION LETTER 通知信函 Should you have any queries relating to this notification, please call the Branch Share Registrar's telephone hotline at (852) 2980 1333 during business hours (9:00 a.m. to 6:00 p.m., Monday to Friday, excluding Hong Kong public holidays) or send an email to 116-ecom@vistra.com. Yours faithfully, By order of the Board Chow Sang Sang Holdin ...

CHOW SANG SANG HOLDINGS INTERNATIONAL LIMITED 周生生集團國際有限公司* (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） （Stock Code 股份代號：116） Yours faithfully, By order of the Board Chow Sang Sang Holdings International Limited Quentin WONG Kwun Shuen Company Secretary Notes: NOTIFICATION LETTER 通知信函 Dear Registered Shareholders, 23 September 2025 Chow Sang Sang Holdings International Limited (the "Company") - Notification of publication of Interim Report 2025 (the "Current Corporate Communication") The ...

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） Stock code 股份代號 : 116 INTERIM REPORT 2025 2025 中期報告 The Board announces the unaudited interim results of the Group for the six months ended 30 June 2025. The interim report has been reviewed by the Audit Committee of the Board. 董事會宣布本集團截至2025年6月30日止 六個月之未經審核中期業績。中期報告已 由董事會之審核委員會審閱。 | | FINANCIAL HIGHLIGHTS | | | | | --- | --- | --- | --- | --- | | | 財務摘要 | | | | | | | Unaudited | | | | | | 未經審核 | | | | | | Six months ended 30 June | | | | | | ...

Core Insights - The international gold price remains high at $3684.9 per ounce, indicating gold's enduring appeal as a safe-haven asset and store of value [1] - Domestic gold market shows significant brand differentiation in pricing, with major jewelry brands aligning closely on gold pricing strategies [1] Group 1: Jewelry Brand Pricing - Major jewelry brands such as Chow Tai Fook, Luk Fook, King Fook, and Xie Ruilin set their gold price at 1078 CNY per gram, reflecting a synchronized pricing strategy [1][2] - Chow Sang Sang leads slightly with a price of 1088 CNY per gram, suggesting added value in craftsmanship or service [1] - Other brands like Lao Feng Xiang and Lao Miao Gold maintain prices close to the market average, indicating competitive pricing [1][3] Group 2: Real-time Pricing and Fluctuations - Water Bay region's gold price is reported at 841 CNY per gram, showcasing real-time market dynamics [2] - Chow Sang Sang's price increased by 12 CNY from the previous day, while Lao Feng Xiang's price rose by 10 CNY [2][3] - Various brands exhibit price stability or slight increases, influenced by market conditions and promotional activities [4] Group 3: Financial Institutions' Gold Bar Pricing - Financial institutions offer a range of gold bars with varying prices, with China Construction Bank's "Dragon Gold Bar" priced at 848.2 CNY per gram [4][6] - Agricultural Bank's "Heritage Gold Bar" is priced at 864.27 CNY per gram, while other banks like Bank of China and Ping An Bank have prices above 860 CNY per gram [6] - The pricing of bank gold bars generally exceeds wholesale market prices, reflecting brand premiums and service costs [6] Group 4: Shenzhen Water Bay Wholesale Market - Shenzhen Water Bay market offers competitive pricing for gold, with 99.9% pure gold priced at 835 CNY per gram [6] - Prices for various purity levels, including 99.99% and 99.999%, are slightly higher, indicating a premium for higher purity [6] - The market's pricing strategy attracts numerous buyers due to its cost-effectiveness compared to retail [6] Group 5: Gold and Silver Coin Pricing - Gold and silver coins, such as the Panda Gold Set, are priced at 50,475 CNY per set, with individual coins varying in price based on weight [11][12] - The pricing of commemorative coins reflects both investment potential and collectible value, appealing to a diverse range of investors [12][13] Group 6: Future Outlook on Gold Prices - Market anticipates potential interest rate cuts by the Federal Reserve, which could influence gold prices in the short term [16][17] - Long-term factors such as geopolitical tensions, rising debt levels, and central banks' gold purchases are expected to support gold prices [17][19] - The ongoing trend of "de-dollarization" and shifts in the global monetary system are reshaping gold's pricing logic, suggesting a strong upward trajectory for gold prices [19]

Group 1 - The core point of the news is that Southbound funds have reduced their holdings in Chow Sang Sang (00116.HK) by 3,000 shares on September 19, 2025, marking a continuous trend of reduction over the past trading days [1] - Over the last 5 trading days, Southbound funds have reduced their holdings for 5 days, with a total net reduction of 33,000 shares [1] - In the last 20 trading days, Southbound funds have reduced their holdings for all 20 days, with a cumulative net reduction of 2.136 million shares [1] Group 2 - As of September 19, 2025, Southbound funds hold 7.713 million shares of Chow Sang Sang, accounting for 1.14% of the company's total issued ordinary shares [1] - The daily changes in shareholding for Chow Sang Sang show a consistent decrease, with the largest reduction being 12,000 shares on September 17, 2025, representing a change of -0.16% [2] - Chow Sang Sang Group International Limited primarily engages in jewelry manufacturing and retail, operating through four segments: jewelry manufacturing and retail, precious metals wholesale, securities and futures brokerage, and other related businesses [2]