The Zhitong Finance App learned that Chow Tai ?$#@$ (01929) opened more than 5% lower in early trading. As of press release, it had a decrease of 5.28% to HK$10.76, with a turnover of HK$7.153,900.
According to the news, Chow Tai ?$#@$ released operating data for the fourth fiscal quarter (January-March 2024). The Group's overall retail sales increased 12.4% year over year. Among them, retail value in mainland China increased by 12.4%, while retail value in Hong Kong, Macau and other markets increased by 12.8%. In terms of same-store sales, same-store sales in mainland China decreased by 2.7% year-on-year in the fourth quarter.
CICC pointed out that the company closed 89 Chow Tai Fu jewellery retail stores in the fourth fiscal quarter, and the net opening of 143 in the full fiscal year was lower than the previous guideline, mainly due to the company actively optimizing its retail network (76 new stores were opened in the fourth fiscal quarter, 165 stores were closed, and the closing rate for the whole year was about 5%). E-commerce accounts for 3.9% of retail value in mainland China.