花旗：下调周大福目标价至9.4港元

Group 1 - The core viewpoint of the article highlights the weak interim performance of Chow Tai Fook, with a net profit decline of 44% year-on-year and a 20% decrease in revenue as of the end of September [1] - Despite strong basic profit margins, significant losses from hedging activities due to rising gold prices have impacted overall performance [1] - Management anticipates challenges in sales of zodiac products in the fourth fiscal quarter, as sales in the Year of the Snake are typically weaker than in the Year of the Dragon [2] Group 2 - Citigroup has lowered its target price for Chow Tai Fook from HKD 11.4 to HKD 9.4 while maintaining a "Buy" rating [3]