Citi: Chow Tai Fook's performance last season met expectations, setting a target price of HKD 9.9 and a "Buy" rating.

Jin10 data reported on April 25, Citibank published a research report stating that Chow Tai Fook’s retail sales value (RSV) in the mainland for the last fiscal quarter decreased by 10% year-on-year, showing weak performance. Although this met expectations, the data lagged behind its peers. The group’s same-store sales decline in the mainland has narrowed, and the pace of net store closures has continued to accelerate and exceeded expectations. The bank indicated that due to the significant rise in gold prices in April, coupled with the price increase of fixed-price gold products at the beginning of April, it is expected that the demand for both weight-based and fixed-price gold products will be under pressure in April. The bank set a target price of HKD 9.9 for the group, with a rating of “Buy.”