HK Stock Market Move | LAOPU GOLD (06181) surged over 8% in intraday trading, breaking through the ceiling. Many stores are experiencing hot sales, as the company is opening high-end luxury shopping malls overseas.

LAOPU GOLD (06181) rose by more than 8% during trading, hitting a high of 583 Hong Kong dollars, a new high since its listing. As of the time of writing, it has risen by 6.24% to 570.5 Hong Kong dollars, with a turnover of 261 million Hong Kong dollars. On the news front, LAOPU GOLD previously announced good earnings, expecting a net profit of approximately 1.4 billion to 1.5 billion yuan for the full year of 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. It is worth noting that LAOPU GOLD's first overseas store has completed its location selection and is currently under renovation, with the first store located in the Marina Bay Sands shopping center in Singapore. Open Source Securities believes that the company's overseas top luxury mall layout can not only enhance the brand tonality and international influence of LAOPU GOLD, but also provide assistance for the company in the core area competition of domestic business districts. By optimizing and upgrading locations, it can realize greater sales potential. China Securities Co., Ltd. pointed out that with the further expansion of the LAOPU GOLD brand and the rapid rise in gold prices, several stores of the company have recently experienced booming sales and long queues. The bank expects the company's sales to maintain a high growth trend in January and February of 2025, and its Q1 performance is expected to reach 0.8-0.9 billion yuan. Looking ahead to 2025, the bank expects the company to further consolidate its channels and expand its presence in high-end business districts in Singapore, Shanghai, and other locations.