HK Stock Market Move | LAOPU GOLD (06181) rebounds over 5%; Q2 results affected by falling gold prices, but institutions remain bullish on subsequent profit recovery.

LAOPU GOLD (06181) rebounded over 5%, rising 5% as of press time to HK$373.5, with a turnover of HK$232 million. On the news front, LAOPU GOLD previously released its interim report. Based on the first-quarter earnings forecast, its second-quarter revenue is estimated at approximately RMB 2.3-3.3 billion, with net profit of approximately RMB 467-667 million. The Pacific Securities believes that although 2026Q2 growth slowed temporarily due to falling gold prices and demand front-loading, the company's growth momentum remains ample, driven by multiple factors including store optimization, deep penetration into high-net-worth customer groups, and strong growth in online and overseas channels, and it is expected to sustain a high-growth trajectory going forward. A JP Morgan research report also stated that the second-quarter sales slowdown is more cyclical than structural. Although short-term sales performance still depends on gold price trends, with the Mid-Autumn Festival and National Day holidays being the next key observation points, the bank believes the company's brand competitiveness and medium-to-long-term profitability remain solid. The bank stated that LAOPU GOLD's earnings will gradually recover, rising from approximately RMB 600 million in the second quarter to approximately RMB 800 million/RMB 1.2 billion in the third/fourth quarters.