HK Stock Market Move | LAOPU GOLD (06181) rose nearly 6% in early trading, with annual net profit expected to increase by as much as 2.6 times year-on-year. The company's first overseas store is set to open in a high-end shopping mall in Singapore.

LAOPU GOLD (06181) rose nearly 6% in early trading, and as of the time of writing, it is up 4.95% at 523.5 Hong Kong dollars, with a trading volume of 2.16 billion Hong Kong dollars. On the news front, LAOPU GOLD previously announced that it expects its net profit for the full year of 2024 to be around 1.4 billion to 1.5 billion yuan, a year-on-year increase of about 236% to 260%, mainly attributed 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, LAOPU GOLD's first overseas store has entered a high-end mall in Singapore, and the Singapore store has already begun renovation. Minsheng Securities pointed out that LAOPU GOLD's overseas flagship store is located in Marina Bay Sands Shopping Center in Singapore, a landmark commercial complex in Singapore. The smooth progress of the company's first overseas store demonstrates LAOPU GOLD's high market recognition at this stage. The upcoming international expansion is expected to further enhance the brand positioning and international influence of LAOPU GOLD's luxury products, and is also expected to drive more sales. The bank stated that LAOPU GOLD's product positioning is high-end, attracting high-net-worth individuals to consume, and there is a trend of increasing repeat customers. There is still room for growth in sales per store and the number of store openings in high-end shopping districts.