CHOW SANG SANG(HK:00116) Sou Hu Cai Jing·2026-01-09 18:22Core Viewpoint - The recent price adjustments in gold jewelry by major brands like Chow Sang Sang are attributed to rising gold prices and increased material costs, marking the first public price adjustment of 2026 for domestic gold jewelry brands [1][4][5]. Group 1: Price Adjustments - Chow Sang Sang's "Sheng Sheng You Xi" series pearl four-leaf clover necklace price increased from 120,800 yuan to 136,000 yuan, a rise of 15,200 yuan in just one day [1]. - The price of Chow Sang Sang's gold jewelry is now quoted at 1,392 yuan per gram, up from 1,376 yuan per gram on January 5, reflecting a 16 yuan increase [4]. - Other brands like Chow Tai Fook and Chao Hong Ji also reported similar prices of 1,392 yuan per gram [4]. Group 2: Broader Market Trends - Chow Sang Sang has adjusted prices for various gold jewelry items, with increases ranging from 200 to 1,500 yuan, affecting products like transport beads and co-branded collections [4]. - The price adjustments are part of a broader trend, with multiple brands expected to follow suit, as indicated by Chao Hong Ji's upcoming price changes scheduled for January 15 [4]. - The international gold price has been on the rise due to geopolitical tensions, with COMEX gold futures reaching 4,480.2 USD per ounce and spot gold at 4,465.63 USD per ounce as of January 9 [5]. Group 3: Company Performance - Chow Sang Sang reported a revenue of 11.036 billion HKD for the first half of 2025, a decrease of 2.45% year-on-year, while shareholder profit increased by 71.44% to 900 million HKD [5]. - UBS has raised its gold price targets for March, June, and September 2026 from 4,500 USD to 5,000 USD per ounce, indicating a bullish outlook for gold prices [5].