Zheng Quan Shi Bao·2026-01-21 10:56Core Viewpoint - Chow Tai Fook, a leading company in the gold and jewelry industry, reported a significant increase in retail value for the third fiscal quarter of 2026, indicating strong sales growth across various markets, particularly in mainland China and Hong Kong [1][2]. Group 1: Retail Performance - The retail value for Chow Tai Fook in the third fiscal quarter increased by 17.8% year-on-year, with accelerated sales growth in mainland China, Hong Kong, and Macau [2]. - Same-store sales growth for direct stores in mainland China reached 21.4%, while franchise stores saw a growth of 26.3%. Excluding watch business, same-store sales growth for direct stores was 25.6% [2]. - Same-store sales in Hong Kong and Macau grew by 14.3%, with Hong Kong increasing by 10.1% and Macau by 31.3% [2]. Group 2: Pricing and Product Performance - The average selling price of gold jewelry in mainland China rose to HKD 11,000, up from HKD 7,300 in the same quarter of the previous fiscal year. In Hong Kong and Macau, the average selling price increased to HKD 20,100 from HKD 13,300 [2]. - For priced jewelry, the average selling price in mainland China rose to HKD 9,500 from HKD 5,200, while in Hong Kong and Macau, it increased to HKD 8,300 from HKD 4,700 [2]. - The retail value growth for priced jewelry accelerated to 59.6% year-on-year, contributing 40.1% to total retail value, up from 29.4% in the previous quarter [3]. Group 3: E-commerce and Store Expansion - Chow Tai Fook's e-commerce retail value in mainland China increased by 25.3% year-on-year, driven by strong sales during the Double Eleven shopping festival and enhanced customer engagement [3]. - The company opened 34 new retail points in mainland China while closing 264, resulting in a net closure of 230 retail points. In Hong Kong and Macau, 3 new retail points were opened [3]. - The company plans to continue its international expansion strategy, focusing on revitalizing existing markets and entering high-potential new markets, with new store openings planned before June 2026 [3].