HK Stock Market Move | MOKINGRAN (02585) surged over 14% to a new high in the afternoon, 48% higher than the IPO price. Institutions say that the company still has potential for expansion in sinking markets.

MOKINGRAN (02585) rose more than 14% in the afternoon, reaching a high of 17.8 Hong Kong dollars, a new high, an increase of more than 48% from the IPO price of 12 Hong Kong dollars. As of the press time, it rose 13.21%, closing at 17.66 Hong Kong dollars, with a trading volume of 8.1336 million Hong Kong dollars. Public information shows that MOKINGRAN's products mainly consist of high-purity gold jewelry, as well as diamond inlays, K gold jewelry, and other jewelry. With the continuous expansion of its business, MOKINGRAN has developed into a well-known gold jewelry original brand manufacturer (OBM) in the market and one of the few enterprises that have achieved full industry chain operations. Its full industry operations cover raw material procurement, raw material refining, brand management, research and development, product design, manufacturing, and sales. Guotai Junan pointed out that the current gold jewelry market in China is still centered on channel competition, with leading brands expanding to improve industry concentration. As of June 30, 2024, the company has formed a complete channel layout covering the entire country, including 2,850 franchise stores operated by 1,670 franchisees, 7 self-operated service centers and 17 provincial agents, as well as 36 self-operated stores and mainstream e-commerce platforms in the consumer network. In the future, MOKINGRAN is expected to continue to expand its offline store network breadth and depth through opening new franchise stores and self-operated stores in existing markets and nationwide expansion.