The Zhitong Finance App learned that Bank of China International released a research report saying that the retail value of Chow Tai Fu (01929) increased 15.1% year-on-year in the first quarter of fiscal year 2027. Among them, the mainland outperformed the overall jewelry market, and Hong Kong and Macau also maintained strong growth. Maintaining the “Buy” rating, the target price is HK$14.8.

According to the report, despite fluctuations in gold prices, the company's profitability is still in line with expectations. The fall in gold prices is driving demand for gold products measured by weight, and the strong contribution of the Wanxiang series also shows progress in brand transformation and new customer acquisition. Management anticipates that a balanced hedging strategy and product portfolio will support the company to meet its financial targets for fiscal year 2027 as scheduled, while recent bad weather has not greatly affected retail value performance. The bank believes that this will support Chow Tai Fook's stock price to continue to outperform the market.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.