因期内金价高位波动拖累金饰消费以及钻石需求延续弱势，公司上半财年收入同比降27%至54亿元。报告指，10月初至11月中旬，集团整体同店销售表现较2025财年第二季有所改善，考虑到2025财年下半年度基数相对较低，管理层预计有望取得较好业务表现。CICC lowered the earnings per share forecast for luk fook hold (00590) for the fiscal years 2025 and 2026 by 40% and 36% to 1.84 and 2.24 yuan respectively.
According to the Zhitong Finance APP, CICC released a research report stating that due to pressure from terminal sales, it has lowered luk fook hold's (00590) earnings per share forecasts for fiscal years 2025 and 2026 by 40% and 36% to 1.84 and 2.24 yuan, while maintaining an "outperform industry" rating. Considering the alleviation of industry pressures, the target price has only been reduced by 15% to 16.56 Hong Kong dollars.
The report stated that luk fook hold's revenue in the first half of the fiscal year decreased by 27% year-on-year to 5.4 billion yuan, while profit during the period fell by 56% year-on-year to 0.42 billion yuan. Excluding losses from gold hedging, it declined by 27% year-on-year, and net income fell by 54% year-on-year to 0.43 billion yuan, meeting market expectations. The company declared an interim dividend of 0.55 yuan, corresponding to a payout ratio of 74%.
Due to fluctuations in gold prices impacting gold jewelry consumption and ongoing weakness in diamond demand, the company's revenue in the first half of the fiscal year decreased by 27% year-on-year to 5.4 billion yuan. The report indicated that from early October to mid-November, the group's overall same-store sales performance improved compared to the second quarter of fiscal year 2025. Considering that the base for the second half of fiscal year 2025 is relatively low, management expects a better business performance.
