HK Stock Market Move | LAOPU GOLD (06181) rises by over 6%, annual performance exceeds expectations, overseas flagship store enters high-end shopping mall in Singapore.

LAOPU GOLD (06181) rose by over 6%, as of the time of writing, it is up 5.83% at 562.5 Hong Kong dollars, with a trading volume of 176 million Hong Kong dollars. On the news front, LAOPU GOLD announced that it expects a net profit of approximately 14 billion to 15 billion yuan in 2024, a year-on-year increase of approximately 236% to 260%, mainly due to the steady growth in same-store sales last year, the opening of seven new stores, and the upgrading and renovation of four existing boutique stores. In addition, several consumers have posted images and text on social media indicating that LAOPU GOLD's new store in Singapore is currently under construction. Nomura released a research report stating that LAOPU GOLD's 2024 performance exceeded expectations, expecting strong growth in same-store sales to be the main driver of growth in the next two years. By continuously adding new stores and adjusting the locations of existing stores, LAOPU GOLD's same-store sales growth will be further boosted. Tianfeng stated that LAOPU GOLD's first overseas store in Singapore's high-end shopping mall has begun renovations, and overseas expansion will open up long-term opportunities for LAOPU GOLD.