该行指出，由于宏观环境持续影响消费，周大福在中国内地以及中国香港及中国澳门的同店销售均有所下跌。加上黄金价格于高位徘徊，使得FY25Q1黄金首饰需求受到影响，这属整体行业的现象。季内，中国内地直营店及加盟店的同店销售分别同比减少26.4%及19.1%，中国香港及中国澳门同店销售同减30.8%；中国香港的同店销售减少27.4%，而中国澳门同店销售减少41.3%。Chow Tai ?$#@$ (01929) fell more than 9% in the intraday period. At press time, it was down 5.18% to HK$7.14, with a turnover of HK$0.144 billion.
The Zhitong Finance App learned that Chow Tai ?$#@$ (01929) fell more than 9% in the intraday period. As of press release, it fell 5.18% to HK$7.14, with a turnover of HK$0.144 billion.
According to Tianfeng Securities, SGE Gold 9999 has risen by about 7% since July 2024, and is still showing strong performance in the upward channel; at the same time, total retail sales of social consumer goods also increased by 2.1% in August 2024, of which gold and silver jewelry also decreased by 12.0%. We believe that the main reason is that the excessive rise in gold prices partially curtailed terminal consumption capacity, and wait-and-see sentiment increased. The bank pointed out that in the context of high gold prices, discounts are limited, consumers have a strong wait-and-see mentality, and wedding transactions dominate.
The bank pointed out that due to the continuing impact of the macro environment on consumption, Chow Tai Fook's same-store sales in mainland China, Hong Kong, and Macau all declined. Coupled with the high price of gold, demand for FY25Q1 gold jewelry was affected. This is an overall industry phenomenon. During the quarter, same-store sales of direct-run stores and franchisees in mainland China decreased by 26.4% and 19.1%, respectively; same-store sales in Hong Kong, China decreased by 30.8%; same-store sales in Hong Kong, China decreased by 27.4%, while same-store sales in Macau, China decreased by 41.3%.
