Core Viewpoint - Goldman Sachs has issued a report indicating that while gold prices are expected to rise, the sales resilience of Luk Fook Holdings (00590) needs to be observed, especially considering the high base during the Lunar New Year period. The firm maintains a "Neutral" rating with a target price of HKD 23 [1] Group 1: Sales Performance - For the third quarter of the fiscal year ending in 2026, same-store sales growth for Luk Fook's brand stores in mainland China reached 31% [1] - Same-store sales growth for self-operated stores in mainland China was 7%, which accelerated from the previous quarter's growth of 7%, returning to pre-pandemic levels [1] - In the Hong Kong and Macau markets, same-store sales growth increased from 11% to 16% [1] Group 2: Market Context - Compared to the sales data released by the company in October to November of the previous year, Goldman Sachs notes a slowdown in growth for the latter half of the last fiscal quarter, although it remains in line with market expectations [1] - The growth is believed to be influenced by a gold rush in mainland China last October and the impact of new tax measures leading to an increase in gold prices [1]
高盛：维持六福集团(00590)“中性”评级 目标价23港元