花旗发布研报称，下调周大福目标价17.5%，由11.4港元降至9.4港元，评级“买入”。花旗指出，周大福截至今年9月底止中期收入疲弱，但纯利仍符预期，且基础利润率强劲，仅因金价飙升，期内对冲损失较大。另中期派息低于预期。由于“双11”活动促销提早开始，因此10月销售表现录得改善，但11月至今表现则偏软，因此需求复苏前景仍存在不确定性。Chow Tai ?$#@$ (01929) fell by more than 3%. At press time, it was down 3.41% to HK$7.08, with a turnover of HK$33.904 million.
The Zhitong Finance App learned that Chow Tai ?$#@$ (01929) fell by more than 3%. As of press release, it fell 3.41% to HK$7.08, with a turnover of HK$33.904 million.
According to the news, Chow Tai ?$#@$ recently announced its interim results for the six months up to the end of September. The group achieved a turnover of HK$39.408 billion, a year-on-year decrease of 20.43%; profit attributable to shareholders of HK$2.53 billion, a year-on-year decrease of 44.4%; basic profit per share of HK$25.3 with an interim dividend of HK$0.2 per share, corresponding dividend of 79%, and announced plans to repurchase shares of no more than HK$2 billion.
Citigroup released a research report stating that the target price of Chow Tai ?$#@$ was lowered by 17.5% from HK$11.4 to HK$9.4, and the rating was “buy.” Citi pointed out that Chow Taifu's mid-term income was weak as of the end of September this year, but net profit was still in line with expectations, and the underlying profit margin was strong. Only due to the sharp rise in gold prices, hedging losses during the period were significant. Also, mid-term dividends fell short of expectations. Sales performance improved in October due to the early start of the “Double 11" campaign promotion, but performance has been weak since November, so there is still uncertainty about the prospects for demand recovery.
