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luk fook hold (00590.HK) will hold a board of directors meeting on November 26th to approve the mid-term performance.
Grants 11th of November, luk fook hold (00590.HK) announced that the company will hold a board of directors meeting on the 26th of November 2024 (Tuesday) to approve (including) the company and its subsidiaries' interim performance up to the 30th of September 2024 for 6 months and its release, as well as consider the payment of interim dividends (if any).
LUK FOOK HOLD: DATE OF BOARD MEETING
PwC predicts that china's luxury goods market will leap to the top of the global ranking by 2030.
PwC predicts that by 2030, China will become the world's largest individual luxury goods market with a market size of $148 billion. Intergenerational wealth transfer, new customer development, the rise of experiential luxury goods, hainan's high growth potential, and the improvement of online and offline services will all drive this growth.
Bvlgari CEO: The luxury goods market in China is expected to recover within two years.
Bvlgari CEO Jean-Christophe Babin stated that with the rebound of the Chinese economy, the Chinese luxury goods market may recover within the next 24 months.
Retail Management Association: The basic market factors remain unchanged, and the market has not yet shown signs of improvement.
Annie Lo, Executive Director of the Retail Management Association, pointed out that the main reason for the narrowed decline in retail data in Hong Kong in September is the low base effect. She mentioned that the current market conditions have not changed fundamentally, with general weakening in consumer spending among citizens, coupled with strong performance of the Hong Kong dollar and the influx of mainland Chinese visitors, the market remains weak without any signs of improvement. 70% of the association's members expect business performance to continue to decline in October. Annie Lo stated that among these members, non-essential items are experiencing a larger decline, while 30% expect business to remain stable or improve, primarily relying on promotional activities and new product launches. Members are still pessimistic about the performance in November and December. She pointed out that half of the members anticipate a decline in business in November, during the Christmas holiday in December.
China Gold Association: Gold consumption in the first three quarters fell by 11.2% year-on-year, with a 27.5% decrease in gold jewelry consumption.
China Gold Association stated that in the first three quarters of 2024, due to the continuous rise in gold prices, the consumption of gold jewelry was significantly affected. Data shows that the national gold consumption was 741.73 tons, a year-on-year decrease of 11.18%. Among them, gold jewelry was about 400 tons, a year-on-year decrease of 27.53%; gold bars and coins 282.72 tons, a year-on-year increase of 27.14%; industrial and other gold use 58.97 tons, a year-on-year decrease of 2.78%. During the period, the domestic raw gold production was 268.07 tons, a year-on-year decrease of 1.17%. Among them, gold mine production completed 209.71 tons, and by-product gold of non-ferrous metals completed 5 tons.
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