---
title: "Chow Tai Fook Balances Mainland Slowdown With Surging Hong Kong and Macao Sales"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283629136.md"
description: "Chow Tai Fook Jewellery Group reported a 1.5% decline in retail sales for Q1 2026, impacted by weaker performance in Mainland China, despite strong growth in Hong Kong and Macao. Average selling prices for gold and jewellery rose significantly. The company is enhancing its brand through new store designs and international expansion, including openings in Bangkok and Sydney. Analysts rate the stock as a Buy with a target price of HK$16.10. The group aims to position itself as a global Chinese luxury brand."
datetime: "2026-04-22T08:37:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283629136.md)
  - [en](https://longbridge.com/en/news/283629136.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283629136.md)
---

# Chow Tai Fook Balances Mainland Slowdown With Surging Hong Kong and Macao Sales

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Chow Tai Fook Jewellery Group ( (HK:1929) ) has shared an update.

Chow Tai Fook Jewellery Group reported a 1.5% decline in group retail sales value for the quarter ended 31 March 2026, as weaker performance in the Chinese Mainland offset a strong rebound in Hong Kong and Macao. Same-store sales in self-operated Mainland stores were broadly stable, while franchised outlets fell, but Hong Kong and Macao posted robust year-on-year same-store growth on the back of improved consumer sentiment and traffic.

Despite softer volumes, average selling prices for both weight-based gold and fixed-price jewellery rose significantly across all markets, reflecting firm pricing amid high and volatile gold prices. The company continued its brand transformation by rolling out higher-productivity newly designed stores, opening new outlets in Bangkok and Sydney, unveiling its largest flagship store on Canton Road in Hong Kong, and broadening its lifestyle reach with the launch of CTF Accessories and CTF HOME.

The most recent analyst rating on (HK:1929) stock is a Buy with a HK$16.10 price target. To see the full list of analyst forecasts on Chow Tai Fook Jewellery Group stock, see the HK:1929 Stock Forecast page.

**More about Chow Tai Fook Jewellery Group**

Chow Tai Fook Jewellery Group is a Hong Kong–based jewellery retailer operating across the Chinese Mainland, Hong Kong, Macao and selected overseas markets. The group focuses on gold and gem-set jewellery, including both weight-based and fixed-price products, and is positioning itself as a global Chinese luxury brand through store upgrades and international expansion.

**Average Trading Volume:** 17,799,005

**Technical Sentiment Signal:** Hold

**Current Market Cap:** HK$115.4B

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