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<Research>BOCI Reiterates Buy on CHOW TAI FOOK, FY26 Guidance Likely Achievable
CHOW TAI FOOK (01929.HK) delivered mixed results for 4FQ, BOCI said in its research report. Dragged down by an 8.2% decline in retail sales in the Mainland China market, the compan...
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<Research>BOCI Reiterates Buy on CHOW TAI FOOK, FY26 Guidance Likely Achievable
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CHOW TAI FOOK (01929.HK)  +0.290 (+2.629%)    Short selling $111.89M; Ratio 42.752%   delivered mixed results for 4FQ, BOCI said in its research report. Dragged down by an 8.2% decline in retail sales in the Mainland China market, the company's overall retail sales fell by 1.5% YoY.

In addition, demand for gold products by weight remained weak, as consumers largely adopted a wait-and-see attitude because of gold price volatility. On the bright side, the price differential arising from adjustments to China's value-added tax policy boosted store traffic markedly in Hong Kong and Macau.

CHOW TAI FOOK's management confirmed all core guidance targets for FY26 are achievable. Such a confirmation should alleviate market concerns. Following the recent share price pullback, BOCI reiterated a Buy rating on the company, with a target price of HKD18.1.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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