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On January 3, CHOW TAI FOOK (01929.HK) spent 2.042 million Hong Kong dollars to repurchase 0.314 million shares.
Gelonghui January 3 news丨CHOW TAI FOOK (01929.HK) announced that on January 3, it spent 2.042 million Hong Kong dollars to repurchase 0.314 million shares.
[Brokerage Focus] Goldman Sachs: Hong Kong's Retail Trade had poor performance in November, with sales figures and performance of various categories varying.
Jinwu Financial News | A Goldman Sachs Research Report points out that in November, the value of retail sales in Hong Kong decreased by 0.6% month-on-month after seasonal adjustment, while the retail volume increased by 0.3%. Among major categories, sales of "jewelry, watches, and luxury gifts" saw the largest growth, while durable consumer goods experienced the greatest decline. Year-on-year, the sales value significantly dropped by 73%, which is a noticeable increase in the decline compared to October's -2.8%. In terms of retail sales value, there was a 73% decrease year-on-year in November, with a month-on-month growth of -0.6% after seasonal adjustment by Goldman Sachs, compared to +1.4% in October. The growth in sales value varies across different categories.
On January 2, CHOW TAI FOOK (01929.HK) spent 0.705 million Hong Kong dollars to repurchase 0.108 million shares.
On January 2, Gelonghui announced that CHOW TAI FOOK (01929.HK) spent 0.705 million Hong Kong dollars to repurchase 0.108 million shares.
In Hong Kong, the total value of retail trade sales in November 2024 is estimated to be 31.7 billion HKD, a year-on-year decrease of 7.3%.
On January 2, the Census and Statistics Department of the Hong Kong government released the latest sales figures for the Retail Trade.
Major brokerage rating丨Citi: Maintains "Outperform" rating for CHOW TAI FOOK with a Target Price of 8.6 HKD.
Citi issued a report stating that Bloomberg reported that CHOW TAI FOOK may sell its toll road project for 2 billion USD. Although there has been no official announcement, the bank estimates the transaction valuation based on a projected yearly profit of the road project at a PE of 10.6 times for the coming year, which is higher than the industry average of 7.8 to 9.8 times. If the price of 2 billion USD is confirmed, it will increase CHOW TAI FOOK's projected Net Asset Value (NAV) for the fiscal year 2026 by approximately 7%. CHOW TAI FOOK's current stock price is at a 42% discount to NAV. The bank currently maintains a 'Outperform' rating on CHOW TAI FOOK with a Target Price of 8.6 HKD.
The ten worst-performing consumer leaders of 2024.
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