HK Stock Market Move | CHOW TAI FOOK (01929) rose more than 6% with same-store sales falling in the fourth quarter. Recently, many major banks have raised their target prices.

CHOW TAI FOOK (01929) rose more than 6%, up 6.17% to HK$10.16 as of the time of writing, with a turnover of HK$84.56 million. On the news front, CHOW TAI FOOK recently announced that the group's retail value for the three months ending March 31, 2025 (fourth quarter) decreased by 11.6% year-on-year. Retail value in mainland China fell by 10.4% year-on-year, while retail value in Hong Kong, Macau, and other markets fell by 20.7% year-on-year. Externally, macroeconomic factors and high gold prices continued to affect consumer sentiment in the fourth quarter. However, the company's product optimization measures during the quarter had a positive effect, driving strong growth momentum and demand for priced products, coupled with effective Chinese New Year marketing activities, narrowing the decline in same-store sales in mainland China. JP Morgan stated that CHOW TAI FOOK's fourth-quarter performance for the 2025 fiscal year showed a continuous improvement in retail sales value (RSV), decreasing by 12% year-on-year, better than the previous quarters. The Chinese market continued to improve, while the Hong Kong and Macau markets remained stable. This suggests that the full-year revenue guidance has been met. The bank raised its target price for CHOW TAI FOOK from HK$8.4 to HK$11.4, maintaining a "overweight" rating. Furthermore, UBS expects same-store sales growth in mainland China for CHOW TAI FOOK to turn positive in the 2026 fiscal year, raising the company's target price from HK$8.5 to HK$12. Credit Suisse maintains an "outperform" rating on CHOW TAI FOOK and raised its target price from HK$8.4 to HK$14.3, an increase of 70%.