Market Overview - The credit crisis among U.S. regional banks has intensified, leading to a decline in U.S. stock markets and a significant drop in Hong Kong stocks, with the Hang Seng Index falling nearly 3% at one point [1] - The Hang Seng Index closed down 2.48% at 25,247.1 points, with a total turnover of HKD 314.62 billion, while the Hang Seng Tech Index dropped 4.05% [1] - For the week, the Hang Seng Index fell 3.97%, the Hang Seng China Enterprises Index fell 3.7%, and the Hang Seng Tech Index fell 7.98% [1] Blue Chip Performance - Hansoh Pharmaceutical (03692) rose 2.13% to HKD 36.5, contributing 1.43 points to the Hang Seng Index, after signing a licensing agreement with Roche for its ADC HS-20110, with a total deal value of USD 1.53 billion [2] - Chow Tai Fook (01929) increased by 5.02%, while Link REIT (00101) rose 0.57% [2] - BYD Electronic (00285) fell 8.13%, negatively impacting the index by 4.21 points [2] Sector Performance - Major tech stocks collectively declined, with Alibaba down over 4% and Tencent nearly 2% [3] - Chip stocks saw significant losses, with ZTE Corporation down over 12% and Hua Hong Semiconductor down nearly 7% [3][4] - The photovoltaic sector continued to decline, with rumors about a multi-crystalline silicon storage platform being unsubstantiated, leading to further losses in solar stocks [4][6] Cryptocurrency Market - The cryptocurrency market experienced a sharp decline, with Bitcoin dropping nearly 5% to USD 104,986, and Ethereum down nearly 7% [6] - The decline was attributed to concerns over credit markets following recent events involving U.S. regional banks and the ongoing government shutdown [6] Notable Stock Movements - Lao Pu Gold (06181) rose 3.11% after announcing a price adjustment for its products, marking its third price change this year [7] - China Duty Free Group (01880) increased by 2.05% following the announcement of expanded duty-free shopping policies in Hainan [8] - NIO Inc. (09866) saw a 2.17% increase, responding to a lawsuit that is not related to its recent operational status [9] - Fuyao Glass (03606) fell 5.73% after announcing a leadership change and reporting Q3 revenue of approximately CNY 11.855 billion, up 18.86% year-on-year [10]

Core Insights - Chow Tai Fook (01929.HK) reported a 4.1% year-on-year increase in retail value for the three months ending September 30, 2025, with a 3.0% increase in mainland China and an 11.4% increase in Hong Kong, Macau, and other markets [1] Group 1: Retail Performance - The second quarter marked a significant turning point for the company's business, benefiting from strong growth in priced products and improvements in gold pricing products [1] - Same-store sales in mainland China turned positive with a growth of 7.6% for direct stores and 8.6% for franchise stores during the period [1] - Excluding the watch business, same-store sales growth for direct stores was 9.9% [1] Group 2: Regional Performance - Same-store sales in Hong Kong and Macau increased by 6.2% year-on-year, with Hong Kong rising by 3.2% and Macau by 17.3% [1]

Group 1 - The core viewpoint of the articles highlights the strong performance of Chow Tai Fook's retail sales, with a year-on-year increase of 4.1% in retail value for the second quarter ending September 30, 2025 [1] - Retail value growth in mainland China was 3%, while Hong Kong, Macau, and other markets saw a growth of 11.4% [1] - Same-store sales in mainland China turned positive at 7.6% growth for direct stores and 8.6% for franchise stores, excluding watch business, direct store same-store sales grew by 9.9% [1] Group 2 - The average selling price of gold jewelry and products remained strong, with mainland China's average price rising to HKD 7,900 from HKD 6,400 in the previous fiscal quarter [1] - In Hong Kong and Macau, the average selling price increased to HKD 11,700 from HKD 9,400 in the previous fiscal quarter [1] - The average selling price of jewelry embedded products in mainland China rose to HKD 11,000 from HKD 9,200, while in Hong Kong and Macau, it was HKD 15,000 [2]

Core Insights - Chow Tai Fook (01929) reported a 4.1% year-on-year increase in retail value for the second quarter ending September 30, 2025, with mainland China retail value growing by 3% and retail value in Hong Kong, Macau, and other markets increasing by 11.4% [1] Group 1: Retail Performance - Same-store sales in mainland China turned positive with a growth of 7.6% for direct stores and 8.6% for franchise stores during the quarter [1] - Excluding the watch business, same-store sales for direct stores in mainland China grew by 9.9% [1] - Same-store sales in Hong Kong and Macau increased by 6.2%, with Hong Kong rising by 3.2% and Macau by 17.3% [1] Group 2: Product Pricing - The average selling price of gold jewelry and products remained strong, with mainland China's average price rising to HKD 7,900 (from HKD 6,400 in Q2 FY2025) and Hong Kong and Macau's average price increasing to HKD 11,700 (from HKD 9,400 in Q2 FY2025) [1] - The average selling price of jewelry embedded products in mainland China rose to HKD 11,000 (from HKD 9,200 in Q2 FY2025), while in Hong Kong and Macau, it was HKD 15,000 (from HKD 15,300 in Q2 FY2025) [2]

Market Performance - The Hang Seng Index closed at 25,247.10 points, down 2.48%, with a weekly decline of 3.97% [1] - The Hang Seng Tech Index closed at 5,760.38 points, down 4.05%, with a weekly decline of 7.98% [1] Individual Stock Movements - ZTE Corporation fell over 12%, Huahong Semiconductor dropped nearly 7%, and SMIC declined over 6% [2] - Baidu, Alibaba, and Meituan all experienced declines of over 4%, while Xiaomi and JD.com fell over 3% [2] - On the positive side, Jiajie Ankang rose over 22%, and Chow Tai Fook increased by over 5% [2] Sector Performance - The Hang Seng Biotechnology Index closed at 15,783.20 points, down 3.60% [2] - The Hang Seng China Enterprises Index closed at 9,011.97 points, down 2.67% [2] - The Hang Seng Composite Index closed at 3,894.61 points, also down 2.67% [2]

Market Overview - As of October 17, the Hang Seng Index closed at 25,247.10 points, down 2.48%, with a weekly decline of 3.97% [1] - The Hang Seng Tech Index closed at 5,760.38 points, down 4.05%, with a weekly decline of 7.98% [1] Index Performance - The Hang Seng Index (HSI) decreased by 641.41 points, representing a decline of 2.48% [2] - The Hang Seng Tech Index (HSTECH) fell by 243.18 points, a decrease of 4.05% [2] - The Hang Seng China Enterprises Index (HSCEI) dropped by 247.49 points, down 2.67% [2] - The Hang Seng Composite Index (HSCl) declined by 106.73 points, also down 2.67% [2] Individual Stock Movements - ZTE Corporation experienced a decline of over 12% [2] - Hua Hong Semiconductor fell nearly 7% [2] - SMIC (Semiconductor Manufacturing International Corporation) dropped over 6% [2] - Baidu, Alibaba, and Meituan each saw declines of over 4% [2] - Xiaomi Group and JD Group both fell over 3% [2] - On the positive side,药捷安康 (Jiangsu Hengrui Medicine) rose over 22% [2] - Chow Tai Fook Jewelry Group increased by over 5% [2]

㗎ЪА㮌: 1929 截 至2025年9月30日 止 三 個 月 未 經 審 核 主 要 經 營 數 據 周 大 福 珠 寶 集 團 有 限 公 司（「本 公 司」）連 同 其 附 屬 公 司（「本 集 團」）謹 此 宣 佈 本 集 團 截 至2025年9月30日 止 三 個 月（「第 二 季 度」或「季 內」）若 干 未 經 審 核 主 要 經 營 數 據。本 公 告 所 載 的 未 經 審 核 主 要 經 營 數 據 應 與 本 公 司 的2025財 政 年 度 年 報 一 併 閱 覽。 主 要 經 營 數 據 截 至2025年9月30日 止 三 個 月 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 CHOW TAI FOOK JEWELLERY GROUP LI ...

Group 1 - The COMEX gold price approached $4400 per ounce, with a year-to-date increase of over 65%, while London gold prices also rose, reaching a peak of $4380.79 per ounce [1] - SHFE gold prices expanded their gains, breaking the 1000 yuan per gram mark, with a year-to-date increase nearing 60%, narrowing the gap with international gold price increases [1] - Domestic gold jewelry prices have been adjusted upwards, with brands like Chow Sang Sang and Lao Miao Gold raising their prices to 1281 yuan per gram and 1279 yuan per gram respectively [4][5] Group 2 - Multiple factors are contributing to the strong performance of precious metals, with expectations of interest rate cuts and heightened risk aversion driving gold prices higher [6] - The trend of global central banks purchasing gold is expected to continue, enhancing the asset allocation value of gold in the medium to long term [6] - There are indications of overbought signals in the gold market, suggesting that while the upward trend is clear, short-term volatility may increase [6]

Group 1 - The stock of Chow Tai Fook (01929.HK) has increased by over 4% as of October 17, reaching a price of 16.42 HKD [1] - The trading volume for Chow Tai Fook is reported at 307 million HKD [1]

Core Viewpoint - Chow Tai Fook (01929) shares have risen over 4%, currently at HKD 16.42, with a trading volume of HKD 307 million, driven by rising gold prices and anticipated price increases in gold jewelry [1] Company Summary - Chow Tai Fook and other major jewelry brands are set to increase their gold jewelry prices by 10%-35% starting from mid to late October [1] - The company's stock performance reflects market trends, with a current increase of 4.39% [1] Industry Summary - The spot gold price continues to rise, leading to supply shortages, prompting Japan's largest gold retailer to suspend sales of gold bars weighing 50 grams or less [1] - The gold jewelry retail industry is projected to see a year-on-year growth of 16.8% by August 2025, supported by low base effects and rising gold prices [1] - The overall sales scale of the industry is expected to improve, particularly for fashionable gold products that cater to younger consumers and are less sensitive to gold price fluctuations [1]