HK Stock Market Move | LAOPU GOLD(06181) rose by over 8% to a new high, with a total market value exceeding HK$60 billion. The peak season for jewelry is expected to boost retail sales.

LAOPU GOLD (06181) rose more than 8%, reaching a new high of 366.4 Hong Kong dollars. As of the time of writing, it was up 4.8%, trading at 353.4 Hong Kong dollars, with a turnover of 97.1694 million Hong Kong dollars. The total market value once surpassed 60 billion Hong Kong dollars. On the news front, as the Chinese New Year approaches, gold sales are entering the traditional peak season, with many gold shops launching promotion activities recently. Zhongjin pointed out that the rapid rise in gold prices last year had a significant impact on the sales of mass jewelry, but high-end gold maintained its resilience. The company has launched promotional activities at multiple stores since the end of last year, which is expected to drive sales growth. The bank continues to be optimistic about the growth prospects of LAOPU GOLD. Considering the peak season for jewelry approaching, it is expected that the terminal will maintain rapid growth, and the continuous improvement in brand awareness will boost valuation, raising the target price by 67% to 343.26 Hong Kong dollars. Guo Zheng International released a research report stating that LAOPU GOLD achieved strong performance growth in the first half of the year. Although the industry faced some pressure in the second half due to the rapid rise in gold prices, the bank believes that the high-end positioning of Laopu has minimized the impact of gold price fluctuations on its performance. It still expects overall growth to be achieved this year. JP Morgan also expressed optimism about the growth prospects of LAOPU GOLD, believing that its strong growth will benefit from brand asset construction, innovation in products in markets that value national pride, and strong value proposition.