预期奢侈品市场于短期内仍将继续受压。瑞士钟表工业联合会FH的数据显示，钟表出口至中国内地及 香港的数量于2025年1月至9月之间分别下跌16.3%及8.3%，显示业内一直面临阻力，持续受到非必需消 费支出疲弱及宏观经济不确定性的挑战，预计中国大陆的消费需求将持续疲软。 格隆汇11月19日丨东方表行集团(00398.HK)公布截至2025年9月30日止六个月(「本期间」)之未经审核综 合业绩。于2025年上半年，中国内地经济保持稳健增长，得益于服务业的韧性和市场情绪的改善。零售 销售量显示出复苏的迹象，消费者价格保持稳定，家庭收入持续上升。尽管可见该等正面指标，惟消费 模式依然谨慎，消费者更倾向于优先考虑日常必需品，而非奢侈品或非必需品。这种消费转变减缓了奢 侈品市场的增长，许多消费者将支出重新定向到体验、旅行和健康上。 针对该等情况，集团采取平衡策略，保持审慎的同时积极寻求增长机遇，专注于强化与领先品牌的合作 关系，并在黄金地段扩张精品店网络，同时选择性开设新店，以扩大市场覆盖范围。透过维持高水平的 优质服务，集团旨在增强客户忠诚度。与此同时，集团实施严格成本管理及改善营运效率，将支撑其可 持续盈利能力，支持 ...

0:00 / 2:18 作为"欧洲制造"的核心标签，以奢侈品为代表的欧洲高端制造行业如今在美国关税政策冲击下压力骤 增。从法国皮具、瑞士钟表到德国豪华汽车，相关企业业绩集体"跳水"，成为美国贸易保护主义措施的 直接受害者。 业内人士指出，这场关税风暴不仅让欧洲品牌利润受损，也使美国市场消费信心受到重创。欧洲企业被 迫提价以转移成本，美国消费者则更加捂紧钱包。在持续的关税冲击下，欧洲高端制造企业短期利润承 压，行业增长前景不确定性显著增加。新华社记者带来一线观察。（记者：李函林、贾金明；视频：王 佳琳） ...

法国路威酩轩集团财报显示，其核心时装与皮革制品部门前三季度收入为276.1亿欧元，比去年同 期的299.2亿欧元下降约8%。集团首席财务官塞茜尔·卡巴尼斯指出，美国市场面临挑战，关税政策不确 定性对需求产生负面影响，使该部门业绩承压。 新华社柏林11月12日电 题：美关税冲击欧洲高端制造 新华社记者李函林 作为"欧洲制造"的核心标签，以奢侈品为代表的欧洲高端制造行业如今在美国关税政策冲击下压力 骤增。从法国皮具、瑞士钟表到德国豪华汽车，相关企业业绩集体"跳水"，成为美国贸易保护主义措施 的直接受害者。 业内人士指出，这场关税风暴不仅让欧洲品牌利润受损，也使美国市场消费信心受到重创。欧洲企 业被迫提价以转移成本，美国消费者则更加捂紧钱包。在持续的关税冲击下，欧洲高端制造企业短期利 润承压，行业增长前景不确定性显著增加。 高关税冲击欧洲高端制造 欧洲多家奢侈品巨头财报显示，美国高关税政策正将该行业推入下行通道。作为"欧洲制造"的代表 性产业，奢侈品若因关税长期受压制，欧洲的出口结构、就业以及软实力将受到冲击。 "在关税与经济放缓双重压力下，美国消费者对高端消费趋于谨慎。"波士顿咨询集团专家塞巴斯蒂 安·博格指出， ...

Group 1 - The textile and apparel sector in Hong Kong has shown strong stock performance following the release of interim reports, with a recommendation to focus on quality stocks with cautious or clear interim expectations and stable full-year performance, such as Shenzhou International, Jiangnan Buyi, and Anta Sports [1] - Notable stock price increases post-interim report include: Yue Yuen (+10.25%), Samsonite (+0.18%), Crystal International (+13.49%), Xtep International (+16.75%), and Li Ning (+8.78%), attributed to results meeting or slightly exceeding market expectations and stable full-year performance forecasts for 2025 [2] - The low valuation and dividend attributes of these companies are highlighted, with projected P/E ratios and dividend yields for 2025/26 as follows: Yue Yuen (7.3X/6.5X, 10%/11%), Samsonite (11X/10X, 4%/5%), Crystal International (10X/9X, 5.8%/6.4%), Xtep International (12X/11X, 4.0%/4.4%), and Li Ning (18.6X/17.8X, 2.7%/2.8%) [2] Group 2 - In July, Swiss watch exports (excluding the US) improved on a month-on-month basis, with Singapore and Hong Kong leading the growth, while overall global exports showed a year-on-year increase of 6.9% [3] - The export figures for July indicate a significant increase in the US due to tariff disruptions, with global exports (excluding the US) showing a year-on-year decline of 0.9% but an improvement from June's -3.2% [3] - Cumulative export data from January to July shows a year-on-year increase of 1.0% for global exports, while specific regions like China and Hong Kong experienced declines [3]

Core Viewpoint - The announcement by President Trump to impose a 39% tariff on Swiss imports has led to a significant decline in the stock prices of Swiss watch companies listed in the U.S. market [1] Group 1: Stock Performance - Richemont Group's ADR fell by 3.08%, resulting in a cumulative decline of 8.80% for the week [1] - Watches of Switzerland Group's ADR dropped by 7.73% [1] - Swatch Group's ADR experienced a decline of 8.7% [1] Group 2: Market Data - Richemont Group's stock opened at 15.74 USD, with a market capitalization of 14.72 trillion ZAR and a 52-week high of 21.04 USD [4] - Watches of Switzerland Group's stock opened at 4.37 USD, with a market capitalization of 756 million GBP and a 52-week high of 7.52 GBP [7][9]