Summary by Moomoo AI
As of September 30, 2024, in the first half of the fiscal year 2025, chow tai fook's operating revenue decreased by 20.4% year-on-year to 39,408 million Hong Kong dollars. Despite the decline in revenue, the group's gross margin increased by 650 basis points to 31.4%, mainly benefiting from the improvement in the gross margin of retail products and the increased contribution from priced gold products. Operating profit reached 6,776 million Hong Kong dollars, and the operating profit margin rose to 17.2%.Management pointed out that external macroeconomic factors and fluctuations in gold prices put pressure on consumer demand, but the group is focusing on brand transformation and product optimization, launching products positioned differently to meet customer needs. Despite facing challenges, the group maintained strong sales...Show More