LUK FOOK HOLD (00590) rose over 3% in afternoon trading. At the time of writing, the stock was up 2.99% to HK$28.28, with a turnover of HK$27.7886 million. A research report from CICC noted that LUK FOOK HOLD's growth for the third quarter of fiscal year 2026, ending December last year, exceeded expectations. The group's retail sales value increased by 26% year-on-year, with retail sales value in Mainland China, Hong Kong & Macau, and overseas markets rising by 26% and 20% respectively. Same-store sales growth in Mainland China's self-operated/branded stores, and in Hong Kong & Macau and overseas markets, was 7%/31% and 16% year-on-year, respectively. Considering the valuation uplift from improved industry sentiment, the target price was raised by 12% to HK$34.31. Citigroup indicated that LUK FOOK HOLD's management believes that although gold prices hit a record high in December, consumers have gradually adapted to the high-price environment, resulting in a minimal impact on sales. Management views the expanded price gap between Hong Kong & Macau and Mainland China products following the new gold value-added tax policy implementation in the mainland, coupled with the appreciation of the Renminbi, as beneficial for the Hong Kong & Macau market. The management remains optimistic about the substantial growth potential in overseas markets and plans to allocate more resources for expansion, maintaining the target of a net increase of approximately 20 stores for fiscal year 2026.