HK Stock Market Move | LAOPU GOLD (06181) fell more than 7% in the final trading session, after hitting new highs several times before. The company's governance shows characteristics of a family business.

LAOPU GOLD (06181) fell more than 7% at the close, rising more than 6% in early trading, after hitting multiple record highs in previous days. As of the time of writing, it fell 7.23% to HK$120.6, with a turnover of HK$1.18 billion. On the news front, on September 10, the list of Hong Kong Stock Connect stocks was officially adjusted, with LAOPU GOLD included in the Hong Kong Stock Connect. In addition, the company's revenue and profits for the first half of the year both saw rapid growth, with net profit increasing by nearly 200% year-on-year. It is worth noting that LAOPU GOLD's governance structure exhibits characteristics of a family business. According to previous disclosures by the company, as concerted parties, Xu Gaoming and his son Xu Dongbo collectively hold 78.27% of the shares of LAOPU GOLD, with Hongqiao Jinji (Xu Gaoming and Xu Dongbo holding 70% and 30% respectively) holding 45.84%, and Hongqiao Jinji, as a general partner, holding 6.51% through its subsidiary Tianjin Jincheng.