HK Stock Market Move | LAOPU GOLD (06181) falls by more than 5% again. Institutions point out that the short-term data of SKP Mall cannot represent the overall performance of same-store sales.

LAOPU GOLD (06181) fell by more than 5%, reaching a drop of 5.63% at the time of drafting, trading at HKD 503, with a turnover of HKD 2.99 billion. In terms of news, recent predictions from SKP mall experts suggest that LAOPU GOLD's same-store sales in SKP mall in April may decline by 40%-60% year-on-year. Citigroup believes that LAOPU GOLD's same-store sales performance in Beijing SKP mall fluctuates greatly, mainly due to the high proportion of purchasing activities (usually representing price-sensitive customers) and the timing of promotional activities, therefore outperforming other malls in the upward trend, and vice versa. Guotai Junan International released a research report last month stating that short-term data from SKP mall cannot represent the overall same-store sales performance. The current stock price of LAOPU GOLD has already reflected market pessimism for the same-store and revenue expectations for LAOPU GOLD in the second to fourth quarters of this year after the drop in gold prices. The bank believes that actual revenue and profit performance may bring surprises to the market.