HK Stock Market Move | LAOPU GOLD (06181) is currently down more than 7%, planning to raise over 2.7 billion Hong Kong dollars through discounted rights issue, mainly for inventory reserves.

LAOPU GOLD (06181) is currently down over 7%, falling 7.69% to 708 Hong Kong dollars as of the time of writing, with a turnover of 5.5 billion Hong Kong dollars. On the news front, LAOPU GOLD announced that it plans to issue 3.7118 million new H shares at a price of 732.49 Hong Kong dollars per share, a discount of about 4.5% to the previous day's closing price of 767 Hong Kong dollars per share. The net proceeds are expected to be approximately 2.707 billion Hong Kong dollars, with 70% to be used for inventory reserves, 10% for store expansion and optimization of existing store locations, and 20% for supplementing working capital and general corporate purposes. It is worth noting that on October 17, LAOPU GOLD announced that the company will adjust product prices on October 26. The specific adjustment magnitude and scope will be based on the actual standards at Wuxi Online Offline Communication Information Technology Co., Ltd. stores. Soochow pointed out that this price adjustment can offset the recent sharp rise in gold prices on gross profit margins, and the price increase announcement is conducive to stimulating short-term product sales and enhancing consumer awareness of the company's own "vision".