CROSBY Research – CTF (1929 HK): Significant post-pandemic recovery

12 Jul 2023

In 1QFY24, Chow Tai Fook recorded YoY growth in retail sales value by 29.4% with RSV of Mainland China/ HK & Macau and other markets grew by 25.2%/64.0% YoY respectively. The continual recovery post pandemic has bring positive impact to CTF operations, in which SSSG in Mainland China grew by 8.5% YoY, while SSSG in HK/Macau was up by 64.9%/62.1% YoY during the quarter, thanks to the reopening of the border.