Core Viewpoint - The stock of Luk Fook Holdings (00590) has dropped over 4%, currently trading at HKD 26.5, with a transaction volume of HKD 102 million [1] Group 1: Sales Performance - Sales in the mainland China market are slowing down, with same-store sales growth for self-operated and authorized stores expected to remain flat in the first two months [1] - However, strong investment demand for gold in Hong Kong, Macau, and overseas markets, along with increased tourist numbers, is expected to accelerate same-store sales growth in the first two months of this year [1] Group 2: Profitability and Forecast - Investment gold sales may dilute gross margins, but this impact could be offset by a faster increase in gold prices [1] - It is anticipated that strong gold prices will lead to increased hedging losses in the second half of the year, potentially further slowing the upward trend in gold prices, which could negatively affect future gross margins [1] - Citigroup has downgraded Luk Fook Holdings' net profit forecasts for the fiscal years 2026 to 2028 by 13%, 9%, and 7% respectively, and has reduced the target price from HKD 35.2 to HKD 32.8 [1]
港股异动 | 六福集团(00590)跌超4% 花旗下调公司盈测及目标价