CHOW TAI FOOK (01929.HK)  +0.220 (+2.937%)    Short selling $7.08M; Ratio 29.795%   's retail sales value (RSV) for the second fiscal quarter ended September 2024 fell 21% YoY, with the RSV for the mainland China/ Hong Kong, Macau and other markets down 19.4%/ 31%, according to CHOW TAI FOOK's announcement.

During the quarter, same store sales (SSS) in mainland China dropped by 24.3% YoY, with SSS volume slipping by 33.3%. The SSS for Hong Kong, Macau and other markets decreased by 30.8%, with SSS volume declining by 36.1%.

The Company expected that revenue for the first half of the financial year ended September will decrease by around 18-22% YoY, while net profit will decrease by around 42-46%.

The impact of gold loans revaluations should be excluded for the purpose of analyzing the underlying operational performance for 1H24 and the same period last year, in which case the decrease in this adjusted net profit for 1H24 would be narrowed to about 12-16%.

The narrowed decrease in this adjusted net profit is mainly attributable to increase of gross profit margin from higher average selling price of gold products sold during 1H24, product optimization and pricing strategies which, together with the Company's agile approach in the implementation of various initiatives to strengthen business resilience and competitiveness, has moderated the impact amid the challenging externalities during 1H24.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-07 12:25.)