Ge Long Hui·2025-11-26 03:42Core Viewpoint - Chow Tai Fook (01929.HK) experienced a significant decline of over 7%, closing at HKD 14.15, with a total market capitalization of HKD 139.59 billion. The company reported its interim results for the fiscal year 2026, revealing lower-than-expected revenue and net profit figures [1]. Financial Performance - For the first half of the fiscal year, Chow Tai Fook reported revenue of HKD 38.99 billion, below the forecast of HKD 40.19 billion [1]. - The net profit for the same period was HKD 2.53 billion, also falling short of the expected HKD 2.63 billion [1]. - The interim dividend per share was set at HKD 0.22 [1]. Revenue Breakdown - The company's revenue from priced jewelry increased by 9.3% year-on-year [1]. - However, revenue from gold jewelry saw a decline of 3.8% year-on-year [1]. Market Analysis - High gold prices have somewhat suppressed gold jewelry consumption, leading to cautious purchasing behavior among customers, particularly for higher-weight products [1]. - Consumers are increasingly opting for lower-priced jewelry or alternatives [1]. - Some gold retail stores are facing challenges that may lead to closures [1].