{
 "company": "Emperor Watch & Jewellery Limited",
 "ticker": "HKEX:0887",
 "source_page": "https://smidresearch.com/companies/emperor-watch-jewellery/",
 "information_cutoff": "3 September 2026",
 "licence": "Public evidence-library figures as filed by the issuer and recomputed by SMID Research; cite the page and its information cut-off. No rating, fair value, price target or recommendation is included. Not investment advice.",
 "tables": [
  {
   "index": 1,
   "section": "The four-year record, and what is not comparable in it",
   "caption": "",
   "headers": [
    "HK$m unless stated, years to 31 December",
    "FY2022",
    "FY2023",
    "FY2024",
    "FY2025"
   ],
   "rows": [
    [
     "Revenue",
     "3,684.3",
     "4,823.2",
     "5,230.3",
     "5,765.3"
    ],
    [
     "Gross profit",
     "1,177.3",
     "1,450.3",
     "1,480.9",
     "1,779.5"
    ],
    [
     "Gross margin",
     "31.95%",
     "30.07%",
     "28.31%",
     "30.87%"
    ],
    [
     "Inventory write-down inside cost of sales",
     "—",
     "—",
     "122.7",
     "50.0"
    ],
    [
     "Other gains and losses",
     "(21.3)",
     "(16.4)",
     "(25.2)",
     "(85.1)"
    ],
    [
     "Profit before taxation",
     "277.2",
     "367.7",
     "317.0",
     "531.4"
    ],
    [
     "Profit for the year",
     "222.1",
     "299.2",
     "256.7",
     "431.3"
    ],
    [
     "Profit attributable to owners",
     "222.1",
     "299.2",
     "256.7",
     "458.4"
    ],
    [
     "Basic earnings per share",
     "3.28c",
     "4.41c",
     "3.79c",
     "6.34c"
    ],
    [
     "Dividends declared per share",
     "1.00c",
     "1.32c",
     "1.10c",
     "1.69c"
    ],
    [
     "Payout of basic earnings",
     "30.5%",
     "29.9%",
     "29.0%",
     "26.7%"
    ],
    [
     "Net cash from operating activities",
     "605.6",
     "403.6",
     "772.4",
     "1,096.7"
    ],
    [
     "Inventories at 31 December",
     "2,703.4",
     "3,060.3",
     "3,003.4",
     "3,078.2"
    ],
    [
     "Cash, time deposits and pledged deposits",
     "664.4",
     "619.6",
     "949.8",
     "1,805.8"
    ],
    [
     "Gold loans",
     "—",
     "—",
     "—",
     "207.7"
    ],
    [
     "Equity attributable to owners",
     "4,845.1",
     "5,046.7",
     "5,214.1",
     "5,617.4"
    ],
    [
     "Stores at 31 December",
     "—",
     "93",
     "82",
     "64"
    ]
   ]
  },
  {
   "index": 2,
   "section": "The first half of 2026: what the print actually says",
   "caption": "",
   "headers": [
    "HK$m unless stated, six months to 30 June",
    "1H2025",
    "1H2026",
    "Change"
   ],
   "rows": [
    [
     "Revenue",
     "2,793.6",
     "2,934.0",
     "+5.0%"
    ],
    [
     "Gross profit",
     "840.4",
     "968.8",
     "+15.3%"
    ],
    [
     "Gross margin",
     "30.08%",
     "33.02%",
     "+2.94pp"
    ],
    [
     "Other gains and losses",
     "(14.4)",
     "24.5",
     "+38.9"
    ],
    [
     "Profit before taxation",
     "240.8",
     "389.8",
     "+61.9%"
    ],
    [
     "Profit for the period",
     "194.3",
     "317.7",
     "+63.5%"
    ],
    [
     "Non-controlling interests",
     "(2.2)",
     "7.3",
     "—"
    ],
    [
     "Profit attributable to owners",
     "196.5",
     "310.4",
     "+58.0%"
    ],
    [
     "Basic earnings per share",
     "2.73c",
     "4.28c",
     "+56.8%"
    ],
    [
     "Interim dividend per share",
     "0.55c",
     "0.90c",
     "+63.6%"
    ],
    [
     "Stores at 30 June",
     "73",
     "69",
     "−4"
    ]
   ]
  },
  {
   "index": 3,
   "section": "Where the revenue comes from, and what stopped",
   "caption": "",
   "headers": [
    "Six months to 30 June, HK$m",
    "External revenue 1H2025",
    "External revenue 1H2026",
    "Change",
    "Segment profit 1H2025",
    "Segment profit 1H2026",
    "Change"
   ],
   "rows": [
    [
     "Hong Kong",
     "1,583.7",
     "1,753.8",
     "+10.7%",
     "215.2",
     "285.2",
     "+32.5%"
    ],
    [
     "Chinese Mainland",
     "723.0",
     "873.3",
     "+20.8%",
     "83.8",
     "147.3",
     "+75.7%"
    ],
    [
     "Macau",
     "163.0",
     "203.8",
     "+25.1%",
     "31.5",
     "64.7",
     "+105.5%"
    ],
    [
     "Other Asia Pacific",
     "309.7",
     "76.7",
     "−75.2%",
     "52.6",
     "5.5",
     "−89.5%"
    ],
    [
     "Total",
     "2,779.3",
     "2,907.6",
     "+4.6%",
     "383.2",
     "502.8",
     "+31.2%"
    ]
   ]
  },
  {
   "index": 4,
   "section": "The balance sheet: about a year of stock, and no bank borrowings",
   "caption": "",
   "headers": [
    "At the balance-sheet date, HK$m",
    "31 Dec 2025",
    "30 Jun 2026",
    "What it is"
   ],
   "rows": [
    [
     "Inventories",
     "3,078.2",
     "3,488.7",
     "Watches and jewellery on the shelf and in the warehouse"
    ],
    [
     "Cash and cash equivalents",
     "1,292.1",
     "1,505.0",
     "—"
    ],
    [
     "Time deposits over three months",
     "318.2",
     "68.0",
     "Outside cash and cash equivalents on the balance sheet"
    ],
    [
     "Pledged bank deposits",
     "195.5",
     "128.9",
     "Security for banking facilities; not freely available"
    ],
    [
     "Gold loans",
     "207.7",
     "137.1",
     "Twelve-month fixed-rate RMB loans whose fair value gain or loss runs through profit or loss"
    ],
    [
     "Bank borrowings",
     "—",
     "—",
     "None reported at either date"
    ],
    [
     "Lease liabilities, current and non-current",
     "405.7",
     "410.4",
     "Shop leases capitalised under HKFRS 16"
    ],
    [
     "Trade receivables",
     "23.1",
     "22.1",
     "Against HK$2,934.0m of half-year revenue"
    ],
    [
     "Equity attributable to owners",
     "5,617.4",
     "5,876.3",
     "—"
    ],
    [
     "Net cash, issuer definition",
     "1,598.0",
     "1,564.7",
     "Cash plus time and pledged deposits less gold loans"
    ]
   ]
  },
  {
   "index": 5,
   "section": "Share price record",
   "caption": "Every threshold-detected move in the window with its controls, dispositioned in the price-driver register; rows with a written note carry a numbered pin on the chart.",
   "headers": [
    "#",
    "Session",
    "0887",
    "HSI",
    "Peers",
    "Left over",
    "Control result",
    "What the evidence supports"
   ],
   "rows": [
    [
     "1",
     "5 Jan 2024",
     "+7.6%",
     "−0.7%",
     "−0.4%",
     "+7.9%",
     "Residual",
     "Against an index move of −0.7% and a peer median of −0.4%, about 8 points are left over; 1.2× median volume. No filing beyond routine notices in the prior three sessions. Chow Sang Sang +1.0 · King Fook +1.5 · Chow Tai Fook −1.8 · Luk Fook −1.9"
    ],
    [
     "2",
     "5 Jan 2024",
     "+11.4%",
     "−3.0%",
     "−2.3%",
     "+13.8%",
     "Residual",
     "Weekly window, 2023-12-29 to 2024-01-05: against an index move of −3.0% and a peer median of −2.3%, about 14 points are left over. No filing beyond routine notices inside the window. Chow Sang Sang +0.2 · King Fook +1.5 · Chow Tai Fook −4.8 · Luk Fook −5.9"
    ],
    [
     "3",
     "8 Jan 2024",
     "+5.4%",
     "−1.9%",
     "−1.1%",
     "+6.5%",
     "Residual",
     "Against an index move of −1.9% and a peer median of −1.1%, about 6 points are left over; 2.3× median volume. No filing beyond routine notices in the prior three sessions. Chow Sang Sang −0.7 · King Fook −1.5 · Chow Tai Fook −2.4 · Luk Fook +0.2"
    ],
    [
     "4",
     "9 Jan 2024",
     "−5.6%",
     "−0.2%",
     "+2.3%",
     "−7.9%",
     "Residual",
     "Against an index move of −0.2% and a peer median of +2.3%, about 8 points are left over; 1.1× median volume. No filing beyond routine notices in the prior three sessions. Chow Sang Sang +1.0 · King Fook +3.0 · Chow Tai Fook +2.0 · Luk Fook +2.5"
    ],
    [
     "5",
     "20 Mar 2024",
     "−7.5%",
     "+0.1%",
     "−0.3%",
     "−7.1%",
     "Residual",
     "The session after the 2023 annual results, filed at 17:17 on 19 March 2024 after the close: revenue up 30.9% to HK$4,823.2 million and net profit up 34.7% to HK$299.2 million, with the full-year dividend raised to HK1.32 cents. Against an index move of +0.1% and a peer median of −0.3%, about 7 points are left over, on 4.1× median volume; the close fell from HK$0.201 to HK$0.186. Chow Sang Sang +0.5 · King Fook +0.0 · Chow Tai Fook −0.7 · Luk Fook −2.5"
    ],
    [
     "6",
     "22 Mar 2024",
     "−10.6%",
     "−1.3%",
     "−3.7%",
     "−6.8%",
     "Residual",
     "Weekly window, 2024-03-15 to 2024-03-22: against an index move of −1.3% and a peer median of −3.7%, about 7 points are left over. The week included the 2023 annual results, filed at 17:17 on 19 March 2024, and the appointment of an independent non-executive director the same evening; nothing else beyond routine notices was filed. Chow Sang Sang −3.9 · King Fook −1.2 · Chow Tai Fook −7.5 · Luk Fook −3.6"
    ],
    [
     "7",
     "3 May 2024",
     "+5.8%",
     "+1.5%",
     "+1.8%",
     "+3.9%",
     "Sector-wide",
     "Tracked the sector: against an index move of +1.5% and a peer median of +1.8%, about 4 points are left over. Chow Sang Sang +1.6 · King Fook +0.0 · Chow Tai Fook +2.0 · Luk Fook +2.3"
    ],
    [
     "8",
     "22 Aug 2024",
     "+8.1%",
     "+1.4%",
     "+0.8%",
     "+7.3%",
     "Residual",
     "The session after the 2024 interim results, filed at 19:00 on 21 August 2024: revenue up 11.5% to HK$2,597 million but net profit flat at HK$185 million and the interim dividend cut to HK0.65 cent from HK0.76 cent. Against an index move of +1.4% and a peer median of +0.8%, about 7 points are left over, on 4.1× median volume. The HK$0.161 close came three sessions after the window low of HK$0.146 on 19 August 2024. Chow Sang Sang −1.0 · King Fook +1.4 · Chow Tai Fook +1.8 · Luk Fook +0.1"
    ],
    [
     "9",
     "30 Sep 2024",
     "+5.9%",
     "+2.4%",
     "+6.1%",
     "−0.2%",
     "Sector-wide",
     "Tracked the sector: against an index move of +2.4% and a peer median of +6.1%, about 0 points are left over. Chow Sang Sang +6.2 · King Fook +0.0 · Chow Tai Fook +10.6 · Luk Fook +5.9"
    ],
    [
     "10",
     "18 Oct 2024",
     "+5.8%",
     "+3.6%",
     "+3.1%",
     "+2.7%",
     "Market-wide",
     "In line with the market: against an index move of +3.6% and a peer median of +3.1%, about 3 points are left over. Chow Sang Sang +7.9 · King Fook +0.0 · Chow Tai Fook +3.9 · Luk Fook +2.3"
    ],
    [
     "11",
     "19 Mar 2025",
     "+8.9%",
     "+0.1%",
     "+0.8%",
     "+8.0%",
     "Residual",
     "Against an index move of +0.1% and a peer median of +0.8%, about 8 points are left over; 8.6× median volume. No filing beyond routine notices in the prior three sessions. Chow Sang Sang +2.2 · King Fook +2.9 · Chow Tai Fook −0.5 · Luk Fook −1.0"
    ],
    [
     "12",
     "21 Mar 2025",
     "+9.2%",
     "−1.1%",
     "−1.1%",
     "+10.4%",
     "Residual",
     "Weekly window, 2025-03-14 to 2025-03-21: against an index move of −1.1% and a peer median of −1.1%, about 10 points are left over, on 7.8× median volume. The week included the 2024 annual results, filed at 19:37 on 20 March 2025; nothing else beyond routine notices was filed. Chow Sang Sang +0.7 · King Fook +1.4 · Chow Tai Fook −5.4 · Luk Fook −3.0"
    ],
    [
     "13",
     "27 Mar 2025",
     "+7.1%",
     "+0.4%",
     "+1.0%",
     "+6.2%",
     "Residual",
     "Against an index move of +0.4% and a peer median of +1.0%, about 6 points are left over; 11.7× median volume. No filing beyond routine notices in the prior three sessions. Chow Sang Sang +1.0 · King Fook +0.0 · Chow Tai Fook +4.3 · Luk Fook +0.9"
    ],
    [
     "14",
     "2 Apr 2025",
     "+5.8%",
     "−0.0%",
     "+1.1%",
     "+4.7%",
     "Residual",
     "Against an index move of −0.0% and a peer median of +1.1%, about 5 points are left over; 9.7× median volume. The only filings in the prior three sessions were the circular and extraordinary general meeting notice for the already-announced Canton Road acquisition, posted on 28 March 2025, and routine notices. Chow Sang Sang +1.4 · King Fook −1.4 · Chow Tai Fook +10.1 · Luk Fook +0.8"
    ],
    [
     "15",
     "7 Apr 2025",
     "−14.6%",
     "−13.2%",
     "−8.7%",
     "−6.0%",
     "Market-wide",
     "A market-wide sell-off: the Hang Seng Index fell 13.2% and the peer median 8.7% the same session, so about 6 points are left to the company on 7.6× median volume. The only issuer filing in the prior three sessions was the 3 April joint-venture announcement, filed at 17:17 after the close two sessions earlier. The close fell from HK$0.212 to HK$0.181. Chow Sang Sang −9.7 · King Fook −7.1 · Chow Tai Fook −18.5 · Luk Fook −7.7"
    ],
    [
     "16",
     "11 Apr 2025",
     "−8.5%",
     "−8.5%",
     "−6.2%",
     "−2.3%",
     "Market-wide",
     "Weekly window, 2025-04-03 to 2025-04-11: the shares fell 8.5% against an index move of −8.5% and a peer median of −6.2%, so about 2 points are left over. The week included the 3 April joint-venture announcement and the market-wide sell-off of 7 April. Chow Sang Sang −6.5 · King Fook +0.0 · Chow Tai Fook −6.8 · Luk Fook −6.0"
    ],
    [
     "17",
     "25 Apr 2025",
     "+10.8%",
     "+2.7%",
     "+4.3%",
     "+6.4%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang +5.8 · King Fook +2.9 · Chow Tai Fook −1.6 · Luk Fook +7.6"
    ],
    [
     "18",
     "8 May 2025",
     "+11.1%",
     "+0.4%",
     "−1.0%",
     "+12.1%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang −0.6 · King Fook −2.7 · Chow Tai Fook −1.3 · Luk Fook +0.2"
    ],
    [
     "19",
     "9 May 2025",
     "+18.1%",
     "+1.6%",
     "+1.5%",
     "+16.5%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang +0.7 · King Fook +0.0 · Chow Tai Fook +6.0 · Luk Fook +2.4"
    ],
    [
     "20",
     "14 May 2025",
     "+9.3%",
     "+2.3%",
     "+1.0%",
     "+8.3%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang +1.1 · King Fook −2.7 · Chow Tai Fook +3.5 · Luk Fook +0.9"
    ],
    [
     "21",
     "20 May 2025",
     "+16.0%",
     "+1.5%",
     "+0.0%",
     "+16.0%",
     "Residual",
     "Volume ran at 29.1× the median, the heaviest of the 2025 run to that point, against an index move of +1.5% and a peer median of exactly zero, leaving the whole 16.0% to the company, and the close rising from HK$0.25 to HK$0.29. The only filings in the prior three sessions were the 19 May annual general meeting poll results and the accompanying change of independent non-executive directors, released at 18:07 after the close the evening before. Chow Sang Sang +1.1 · King Fook −1.4 · Chow Tai Fook −0.4 · Luk Fook +0.5"
    ],
    [
     "22",
     "23 May 2025",
     "+34.7%",
     "+1.1%",
     "+1.2%",
     "+33.5%",
     "Residual",
     "Weekly window, 2025-05-16 to 2025-05-23: the shares rose 34.7% against an index move of +1.1% and a peer median of +1.2%, leaving about 34 points over, on 18.4× median volume. The week included the 19 May annual general meeting poll results and change of independent non-executive directors; nothing else was filed. Chow Sang Sang +1.2 · King Fook +0.0 · Chow Tai Fook +1.3 · Luk Fook +3.0"
    ],
    [
     "23",
     "28 May 2025",
     "+22.4%",
     "−0.5%",
     "+1.5%",
     "+20.9%",
     "Residual",
     "One of the heaviest sessions of the window, at 109× median volume, with the close rising from HK$0.335 to HK$0.41 while the index fell 0.5% and the peer median rose 1.5%, leaving about 21 points to the company. Nothing was filed on the HKEX tape in the prior three sessions. Chow Sang Sang +3.9 · King Fook +0.0 · Chow Tai Fook +0.7 · Luk Fook +2.2"
    ],
    [
     "24",
     "29 May 2025",
     "+18.3%",
     "+1.4%",
     "+1.9%",
     "+16.3%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang +4.8 · King Fook +1.4 · Chow Tai Fook +2.5 · Luk Fook +0.2"
    ],
    [
     "25",
     "30 May 2025",
     "+43.8%",
     "−1.3%",
     "+6.1%",
     "+37.6%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang +11.1 · King Fook +12.5 · Chow Tai Fook +0.9 · Luk Fook +1.1"
    ],
    [
     "26",
     "4 Jun 2025",
     "+12.9%",
     "+0.6%",
     "+1.2%",
     "+11.8%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang +2.0 · King Fook −3.7 · Chow Tai Fook +1.4 · Luk Fook +1.0"
    ],
    [
     "27",
     "16 Jun 2025",
     "+16.4%",
     "+0.7%",
     "+3.8%",
     "+12.6%",
     "Residual",
     "The window high: the close reached HK$0.64 from HK$0.55, on 84× median volume, against an index move of +0.7% and a peer median of +3.8%. Nothing was filed on the HKEX tape in the prior three sessions. From the HK$0.216 close of 25 April 2025 the shares had roughly tripled in 34 sessions. Chow Sang Sang +4.5 · King Fook +0.0 · Chow Tai Fook +6.0 · Luk Fook +3.0"
    ],
    [
     "28",
     "2 Jul 2025",
     "−17.1%",
     "+0.6%",
     "+3.4%",
     "−20.4%",
     "Residual",
     "The reversal: the close fell from HK$0.44 to HK$0.365 on 112× median volume while the index rose 0.6% and the peer median 3.4%, leaving about 20 points against the company. The only filing in the prior three sessions was the nomination committee's terms of reference, posted on 30 June 2025. Chow Sang Sang +5.2 · King Fook +2.3 · Chow Tai Fook +1.0 · Luk Fook +4.5"
    ],
    [
     "29",
     "4 Jul 2025",
     "−20.8%",
     "−1.5%",
     "+0.6%",
     "−21.4%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang −0.3 · King Fook −1.2 · Chow Tai Fook +1.5 · Luk Fook +5.5"
    ],
    [
     "30",
     "9 Jul 2025",
     "+13.4%",
     "−1.1%",
     "−1.2%",
     "+14.6%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang −2.5 · King Fook −1.1 · Chow Tai Fook −1.3 · Luk Fook −0.5"
    ],
    [
     "31",
     "11 Jul 2025",
     "+23.7%",
     "+0.9%",
     "−0.2%",
     "+23.9%",
     "Residual",
     "Between late April and mid-June 2025 the shares rose from about HK$0.20 to a high of HK$0.64 on 16 June 2025, then fell 17.1% and 20.8% in two July sessions. No issuer announcement on the HKEX tape precedes any of these moves. Chow Sang Sang −3.0 · King Fook +1.2 · Chow Tai Fook +1.6 · Luk Fook −1.7"
    ],
    [
     "32",
     "15 Sep 2025",
     "+15.2%",
     "+0.2%",
     "−0.3%",
     "+15.6%",
     "Residual",
     "A 15.2% session on 32.7× median volume, taking the close from HK$0.295 to HK$0.34, against an index move of +0.2% and a peer median of −0.3%. The 1H2025 results had been filed 18 sessions earlier, on 20 August 2025, and nothing was filed in the prior three sessions. Chow Sang Sang +5.0 · King Fook −2.0 · Chow Tai Fook −0.8 · Luk Fook +0.1"
    ],
    [
     "33",
     "28 Jan 2026",
     "+36.8%",
     "+2.6%",
     "+1.8%",
     "+34.9%",
     "Residual",
     "The session after the positive profit alert, filed at 17:30 on 27 January 2026 after the close, in which the company said FY2025 net profit would be not less than HK$420 million against HK$257 million in FY2024. The close rose from HK$0.234 to HK$0.32 on 86× median volume, against an index move of +2.6% and a peer median of +1.8%, leaving about 35 points to the company. It is the largest single-session move in the window. Chow Sang Sang +1.7 · King Fook +1.9 · Chow Tai Fook +2.7 · Luk Fook +1.8"
    ],
    [
     "34",
     "30 Jan 2026",
     "+22.4%",
     "+2.4%",
     "+1.5%",
     "+20.9%",
     "Residual",
     "Weekly window, 2026-01-23 to 2026-01-30: the shares rose 22.4% against an index move of +2.4% and a peer median of +1.5%, leaving about 21 points over, on 19.8× median volume. The week included the 27 January positive profit alert; nothing else was filed. Chow Sang Sang +4.6 · King Fook +0.0 · Chow Tai Fook +2.8 · Luk Fook +0.2"
    ],
    [
     "35",
     "10 Feb 2026",
     "+14.3%",
     "+0.6%",
     "+0.4%",
     "+13.9%",
     "Residual",
     "Against an index move of +0.6% and a peer median of +0.4%, about 14 points are left over; 29.6× median volume. No filing beyond routine notices in the prior three sessions. Chow Sang Sang −0.7 · King Fook +3.8 · Chow Tai Fook +0.5 · Luk Fook +0.2"
    ],
    [
     "36",
     "22 Jul 2026",
     "+11.8%",
     "−0.9%",
     "+0.3%",
     "+11.4%",
     "Residual",
     "The session after the second positive profit alert, filed at 17:30 on 21 July 2026 after the close, in which the company said 1H2026 net profit would be not less than HK$310 million against HK$194 million a year earlier. The close rose from HK$0.255 to HK$0.285 on 18.7× median volume, against an index move of −0.9% and a peer median of +0.3%. Chow Sang Sang +0.6 · King Fook +0.0 · Chow Tai Fook +0.1 · Luk Fook +4.6"
    ]
   ]
  }
 ]
}