Ge Long Hui·2026-01-21 08:43Core Viewpoint - Chow Tai Fook (01929.HK) reported a 17.8% year-on-year increase in retail value for the third quarter ending December 31, 2025, indicating a gradual improvement in jewelry consumption sentiment [1] Group 1: Sales Performance - The same-store sales growth for direct stores in mainland China reached 21.4%, while franchise stores achieved 26.3% growth during the same period [1] - Same-store sales in Hong Kong and Macau increased by 14.3%, with Hong Kong rising by 10.1% and Macau by 31.3% [1] Group 2: Average Selling Price - The average selling price of gold jewelry in mainland China rose to HKD 11,000, up from HKD 7,300 in the third quarter of the 2025 fiscal year [1] - In Hong Kong and Macau, the average selling price for gold jewelry increased to HKD 20,100, compared to HKD 13,300 in the same period of the previous fiscal year [1] - The average selling price for gold jewelry in mainland China reached HKD 9,500, up from HKD 5,200 in the previous fiscal year, while the average price for jewelry embedded with gold rose to HKD 8,900 from HKD 8,000 [2] - In Hong Kong and Macau, the average selling price for gold jewelry increased to HKD 8,300 from HKD 4,700, while the average price for jewelry embedded with gold was HKD 17,500, slightly down from HKD 18,700 [2]