Lyon: Maintaining the "outperforming the market" rating established by Zhou Dafu, mid-term dividend growth is an unexpected surprise.

The report released by Lyon indicates that Chow Tai Fook's performance in the first half of the 2026 fiscal year met expectations. Adjusted recurring profit was 1.47 billion Hong Kong dollars, representing 52% of the bank's full-year forecast. The profit growth of Chow Tai Fook Life, a subsidiary, became the main driver of the various operational departments. The mid-year dividend was 0.28 Hong Kong dollars per share, a 3% increase from the same period last year when compared on a comparable basis, which was a pleasant surprise. The report stated that Chow Tai Fook will be approved for inclusion in the southbound trading on March 9th, which is expected to serve as a catalyst for revaluation. The bank maintains its "outperform the market" rating on Chow Tai Fook, with a target price of 8.8 Hong Kong dollars.