金价飙升，周大福大涨

Core Insights - Chow Tai Fook Group reported a retail value growth of 4.1% for the second quarter ending September 30, 2025, driven by a significant increase in the retail value of priced gold products, which surged by 43.7% year-on-year [1] - The company noted a full recovery in same-store sales across mainland China, Hong Kong, and Macau, with same-store sales growth of 7.6% for direct stores and 8.6% for franchise stores in mainland China [1] - Despite the increase in retail value, overall sales volume declined, with same-store sales volume in mainland China dropping by 8.6% and in Hong Kong and Macau by 10% [1] Pricing Adjustments - Several gold jewelry brands, including Chow Tai Fook, have raised their product prices due to the continuous rise in gold prices, with Chow Tai Fook's gold jewelry price reaching 1279 yuan per gram [1][2] - The company plans to announce further product price adjustments soon, reflecting the ongoing volatility in gold prices [3] Market Conditions - The Shanghai Gold Exchange issued a warning regarding the recent volatility in international precious metal prices, urging members to enhance risk awareness and maintain market stability [3]