Financial News
Written by: Xu Shihao
2020-11-25 09:48
Last update date: 2020-11-25 09:54
Chow Tai Fook (1929) announced that its interim net profit was 2.232 billion yuan, an increase of 45.6% year-on-year; earnings per share were 0.22 yuan, and an interim dividend was 0.16 yuan.
Zheng Zhigang, executive director of Chow Tai Fook (1929), said at the performance announcement that the local market is expected to have bottomed out. If the main border crossings are reopened in the future, the market is expected to gradually recover.
He also expressed optimism about the medium and long-term development prospects of the mainland jewelry market.
The performance was satisfactory. The company's share price rose more than 7%, and the latest report was 10.4 yuan, up 0.7 yuan.
Some investment banks raised their target prices, among which Bank of America Securities raised the target price of Chow Tai Fook to RMB 14.5, with a rating of "Buy"; Goldman Sachs raised the target price to RMB 10.5 with a rating of "Neutral".
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Chow Tai Fook
