CLSA: Chow Tai Fook Creation (00659) second-half results and final dividend beat expectations, maintain "Outperform" rating.

Zhito Finance APP has learned that CLSA issued a research report maintaining a "Outperform" rating and a target price of HK$11.5 for Chow Tai Fook Creation (00659) unchanged. In the second half of the company's fiscal year 2026, adjusted recurring profit rose 10% year-on-year to RMB 1.539 billion, while the final dividend increased 4% year-on-year to HK$0.33 per share, exceeding the bank's expectations by 8% and 3%, respectively. The report noted that, same as last year, the company announced another 1-for-10 bonus share issuance, which the market should view as neutral to positive. On the operational side, the bank sees gradually positive factors, and Chow Tai Fook Life appears to still have a certain degree of resilience amid intensifying policy headwinds.