HK Stock Market Move | LAOPU GOLD (06181) rises by over 4%, annual net profit is expected to increase by 2.6 times year-on-year, the first overseas store is located in a high-end shopping mall in Singapore.

LAOPU GOLD (06181) surged more than 4%, with a gain of 4.37% as of the time of writing, reaching 537.5 Hong Kong dollars, with a transaction value of 3.1 billion Hong Kong dollars. On the news front, LAOPU GOLD previously announced a profit increase, expecting a net profit of approximately 1.4 billion to 1.5 billion yuan for the full year of 2024, a year-on-year growth 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 renovation of four existing boutique stores. Nomura expects that the same-store sales of LAOPU GOLD will continue to show strong growth and will be a major driver of growth in the coming years. By continuously opening new stores and adjusting the locations of existing stores, the same-store sales of LAOPU GOLD will be further boosted. In addition, the first overseas store of LAOPU GOLD has completed site selection and is currently undergoing renovation, with the first store located in the Marina Bay Sands Shopping Center in Singapore. Minsheng Securities pointed out that the smooth progress of the company's first overseas store demonstrates the high market recognition of LAOPU GOLD at the current stage. It is expected that the subsequent international expansion will further enhance the brand positioning and international influence of LAOPU GOLD's luxury goods, while also potentially driving more sales.