CHOW TAI FOOK(HK:01929) 中国基金报·2025-12-18 10:03Core Viewpoint - Chow Tai Fook has announced a price increase for certain fixed-price products, with the increase ranging from 4% to 16%, effective December 19 [2][3][4]. Price Increase Details - The price increase affects products from the Forbidden City series, the Chuanfu Chuanxi series, and some platinum products, with specific examples showing a price rise of 15.85% for a butterfly gold bracelet, from 56,800 yuan to 65,800 yuan [10]. - Chow Tai Fook has previously raised prices in March and October of this year, with increases of 10% to 20% in March and 12% to 18% in October [14]. Sales Performance - For the first half of the 2026 fiscal year (April to September 2025), Chow Tai Fook reported a recovery in performance, with same-store sales showing growth. The revenue from fixed-price jewelry increased by 9.3% year-on-year, reaching 11.4 billion HKD, while revenue from priced gold jewelry decreased by 3.8% [14]. - The average selling price of fixed-price gold jewelry rose to 6,300 HKD, an increase of 18.9% year-on-year [15]. Market Context - The international gold price has been on the rise, with domestic gold prices also increasing. As of December 18, multiple brands reported gold prices exceeding 1,350 yuan per gram, with Chow Tai Fook's price at 1,353 yuan per gram [22][23]. - Analysts from various institutions believe that gold prices are likely to continue rising, citing factors such as a cooling labor market and expectations of interest rate cuts [27].