Ge Long Hui·2026-02-11 03:22Core Viewpoint - Despite recent fluctuations in gold prices, consumer demand for gold jewelry remains strong, with consumers more likely to accelerate purchases during price increases rather than waiting for price corrections [1] Group 1: Company Insights - Chow Tai Fook plans to raise the prices of gold jewelry after the Lunar New Year, with a confirmed increase of at least 15% according to store managers [1] - The timing and extent of the price increase have not yet been determined, but it aligns with industry expectations for post-holiday repricing [1] Group 2: Market Trends - The upcoming Valentine's Day, which coincides with a long holiday weekend, is expected to further boost gifting demand and store traffic [1] - Daiwa has raised its earnings per share forecast for Chow Tai Fook for the fiscal year 2027 by 6%, driven by increased sales in Hong Kong and Macau due to widening retail price gaps and sustained strong gold prices [1] Group 3: Investment Outlook - Daiwa has increased the target price for Chow Tai Fook from HKD 15.5 to HKD 17, maintaining a "Buy" rating [1]