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A difficult Q2 report card for luxury goods: zero revenue growth, price increases and promotions together, with Hermès "holding up the roof".
Bank of America Merrill Lynch stated that the second-quarter weighted average income of the luxury goods industry recorded zero growth, the lowest in fifteen quarters, and also showed trends such as brand polarization, negative growth in hard luxury income, and deteriorating demand in the USA.
There's Reason For Concern Over Chow Tai Fook Jewellery Group Limited's (HKG:1929) Price
HK stocks change| Chow Tai Fook (01929) fell more than 4% in the afternoon, and the new high gold price put pressure on terminal sales. The company's second-quarter retail value fell by 20%
Chow Tai Fook (01929) fell more than 4% in the afternoon. As of press time, it fell 3.1%, at HKD 6.57, with a turnover of HKD 50.3198 million.
Chow Tai Fook (01929.HK) received a shareholding of 0.0964 million shares from the executing director Cheng Jiachun.
According to the latest equity disclosure information from the HKEX, on August 15, 2024, Chow Tai Fook (01929.HK) received an increased shareholding of 0.0964 million shares at an average price of HKD 6.50 per share from executive director Zheng Jiachun. The transaction involved approximately HKD 0.6266 million. After the increase, Zheng Jiachun's latest shareholding was 19.8956 million shares, accounting for 0.20% of the total shares.
GTJA: In July, the month-on-month growth rate of social retail goods improved. We continue to recommend vertical O2O and going overseas.
In July 2024, the social zero growth rate increased month-on-month, while the social zero above quota decreased year-on-year. Continue to focus on recommending vertical O2O + going global.
HK stocks surge | Chow Tai Fook (01929) is up more than 3% with continuous shareholding of directors recently, institutions are bullish about the company's slight improvement in gross profit in the future.
Chow Tai Fook (01929) has risen by over 3%, as of press time, up 3.21%, at HKD 6.75, with a turnover of 27.3395 million Hong Kong dollars.