The Zhitong Finance App learned that Chow Tai ?$#@$ (01929) plummeted nearly 8% yesterday and fell more than 3% today. As of press release, it decreased by 3.44% to HK$10.1, with a turnover of HK$38.1087 million.
According to a research report released by Lyon, Chow Tai ?$#@$ closed a net of 89 sales points in the fourth quarter of fiscal year 2024 and opened a net of 143 sales points throughout the year. It failed to meet the earlier target of opening 300 to 400 stores. This is the same as the bank's concerns about the company. The bank said that strong demand for gold is a double edge in terms of gross margin. Even if rising gold prices help, the increasing share of gold product sales is an offsetting factor.
Goldman Sachs released a research report saying that it gave Tai ?$#@$ a “neutral” rating. Although it has a leading position in the industry and its market share continues to increase, it still faces weak sales pressure in the short term because the first two fiscal quarters of the current fiscal year have a high base, and market competition intensifies, and rising gold prices may also put pressure on gross margin. The target price is HK$12.