HK Stock Market Move | LAOPU GOLD (06181) rose more than 4% in the afternoon, management remains confident in next year's sales and profits, and the impact of changes in gold purchase taxes is limited.

LAOPU GOLD (06181) rose over 4% in the afternoon, rising 4.37% to HKD 669 at the time of publication, with a turnover of HKD 4.72 billion. On the news front, on November 23, LAOPU GOLD's new store in Beijing Wangfu Zhonghuan was opened, with the store's location upgraded from the original second floor to a side store, and the area expanded simultaneously. China Securities Co., Ltd. issued a research report stating that high-end luxury shopping malls such as Wangfu Zhonghuan performed better under activities after a significant price increase at the end of October, better adapting to the new pricing system after the adjustment. Nomura recently issued a research report stating that LAOPU GOLD's management remains confident in sales and profits in 2026. Despite the third price increase in October, customers have been queuing outside some branches to enter the store in recent weeks. The recent modification of the gold purchase tax will increase the cost of raw materials for LAOPU GOLD by 6%, and Nomura estimates that this may narrow the gross profit margin by 3 to 4 percentage points. However, Nomura believes that the actual impact on the gross profit margin is small, as LAOPU GOLD has previously raised prices and accumulated gold inventory at lower costs.