Ge Long Hui·2026-01-22 04:11Core Viewpoint - Chow Tai Fook (1929.HK) experienced a significant stock price increase of over 5%, reaching HKD 14.41, following the announcement of strong retail performance for the third quarter, with a year-on-year growth of 17.8% in retail value [1] Group 1: Financial Performance - For the third quarter ending December, Chow Tai Fook reported a retail value growth of 17.8% year-on-year, with Hong Kong, Macau, and other markets growing by 22.9%, and mainland China by 16.9% [1] - The average selling price of gold jewelry in Hong Kong and Macau surged from HKD 13,300 to HKD 20,100, marking a 51% increase [1] - Same-store sales of gold jewelry also saw a significant increase of 43.2% during the same period [1] Group 2: Market Outlook - CICC's report indicates that despite high base effects in Q4 of fiscal year 2026, the company is actively promoting its Spring Festival marketing activities and has launched a new product line for the New Year [1] - Management anticipates same-store sales to achieve low to mid-single-digit year-on-year growth during the Spring Festival period [1] - Based on the company's strong sales performance, CICC has raised the target price for Chow Tai Fook by 6% to HKD 17.85, maintaining an "outperform" rating [1]