Glonghui, April 16 | According to the Macquarie Research Report, Chow Tai ?$#@$ closed a net of 89 sales points in the Mainland in the fourth quarter of FY2024, failing to meet the target set earlier to open a net of 300 sales points in FY2024. Management has stated that the company will focus on improving store efficiency to drive business growth. It is expected that the store closure rate will remain around 5% in FY2025, and they will also be cautious about opening new stores. The bank reduced the company's target price by 9.6% from HK$9.4 to HK$8.5, with a rating of “outperforming the market”. Taking into account the trend of slowing same-store sales and cautious store opening targets, the bank also lowered the company's earnings estimates for the 2024, 2025 and 2026 fiscal years by 1.1%, 7.3% and 12.4%, respectively. According to the report, same-store sales in the Mainland, Hong Kong and Macau regions fell 2.7% and increased 4.5% respectively in the fourth quarter of fiscal year 2024, which is a significant slowdown from 22.7% and 66.6% in the third quarter. Chow Tai ?$#@$ anticipates a mid-10-digit increase in revenue for the 2024 fiscal year, mainly due to new store openings and increased productivity in new stores.