Zheng Quan Shi Bao·2025-11-25 15:41Core Viewpoint - Chow Tai Fook's performance shows resilience with a recovery in same-store sales driven by improved consumer sentiment and jewelry consumption in key markets [1][2][3] Group 1: Financial Performance - The group's revenue for the period reached HKD 38.986 billion, maintaining stability [2] - Gross profit margin remained above 30%, supported by high-margin pricing jewelry and rising gold prices [2] - Operating profit was HKD 6.823 billion, a year-on-year increase of 0.7% [2] - Profit attributable to shareholders was HKD 2.534 billion, a slight increase of 0.1% year-on-year [2] Group 2: Same-Store Sales Growth - Same-store sales in mainland China increased by 2.6%, while franchise retail points saw a growth of 4.8% [3] - Hong Kong and Macau same-store sales rose by 4.4%, driven by improved retail consumption and increased foot traffic [3] - In Hong Kong, same-store sales increased by 1.8%, while Macau experienced a growth of 13.7% [3] Group 3: E-commerce and Marketing Strategies - E-commerce contributed approximately 18% to the online sales retail value, driven by enhanced customer interaction through live streaming and social media [3] - The company reported over 30% growth in e-commerce retail value during the recent Double Eleven shopping festival [3] Group 4: Gold Price Trends - International gold prices have shown a high-level fluctuation, with prices exceeding USD 4,300 per ounce before retreating to below USD 4,000, but have since stabilized above this level [4] - Domestic gold prices also experienced fluctuations, with prices surpassing CNY 1,000 per gram before returning to above CNY 900, reflecting a year-to-date increase of over 50% [4] - The price of gold jewelry in domestic stores has risen, with prices generally exceeding CNY 1,300 per gram [4]