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Citi: Maintains a 'buy' rating on Luk Fook Holdings, with target price lowered to HK$17.
Citigroup released a research report stating that luk fook hold (00590) has lowered its sales and profit margin forecasts after announcing its performance for the first half of 2025, resulting in a 23.4% decrease in the target price from HKD 22.2 to HKD 17, while maintaining a "buy" rating. Citigroup analysts pointed out that luk fook's interim net profit decline of 56% aligns with previous announcements, and management expects that due to the peak sales season approaching and a lower base, coupled with a slowdown in store closures in mainland china, the group's sales and profit margin performance in the second half of 2025 will improve. Citigroup believes that luk fook is currently attractively valued, with a predicted pe of 9 times and a dividend yield.
[Brokerage Focus] CICC lowers the target price of Chow Tai Fook (01929) by 31% to HK$10, expecting the fair value loss of gold loans to continue in the second half of the year.
King's Financial News | CICC International stated that Chow Tai Fook (01929) announced its first-half year performance, with a 20.4% year-on-year decline in revenue, in line with market expectations. Net income decreased by 44.4% year-on-year, 20% lower than the consensus, mainly due to weak consumer sentiment and a fair value loss on gold loans caused by the rise in gold prices. In addition to a dividend of 0.2 Hong Kong dollars per share, the company also announced a share buyback plan worth 2 billion Hong Kong dollars. The company expects a mid-double-digit decrease in revenue for FY25E, as the improvement in gross margin will be partially offset by the rise in SG&A expense ratio, impacting operating profit.
Hong Kong stock anomaly | Chow Tai Fook (01929) fell more than 3%, Citigroup pointed out that the uncertainty of its demand recovery prospects still exists.
Chow Tai Fook (01929) fell over 3%, as of the time of writing, down 3.41%, reported at 7.08 Hong Kong dollars, with a transaction amount of 33.904 million Hong Kong dollars.
gtja: Maintain the "shareholding" rating for chow tai fook (01929) with a target price reduced to 8.58 HKD.
gtja has lowered the net income forecast for chow tai fook for the fiscal years 2025-2027 to 5.711/6.233/6.717 billion Hong Kong dollars.
Kaiyuan Securities: Maintains the "buy" rating for chow tai fook (01929) and actively promotes brand transformation to enhance product strength.
Open Source Securities expects chow tai fook's net income for the fiscal years 2025-2027 to be 5.793/6.381/7.034 billion yuan.
Yuanta Securities Upgrades Chow Tai Fook Jewellery Group to Hold From Sell; Price Target Is HK$7.20
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