On September 7, LAOPU GOLD fell 3.01% in regular trading, trading at 386.2 HKD/share, with turnover of HKD 172 million.

On the news front, the stock continues to face pressure from a notable price divergence between its primary and secondary markets. Reports indicate that certain LAOPU GOLD products are being resold at nearly 50% discounts to their original retail prices, with a pendant originally priced at RMB 38,000 fetching only around RMB 19,000 in the secondhand market, raising questions about the sustainability of its brand premium positioning.

While the company reported solid H1 results — revenue of RMB 19.81 billion (+60.3% YoY), adjusted net profit of RMB 4.32 billion (+83.6% YoY), and gross margin expanding to 41.3% — growth rates have meaningfully decelerated from prior periods. Morgan Stanley projects H2 revenue to decline 11% YoY, with full-year profit growth implying only a 3% increase in the second half. The bank also flagged low demand visibility into next year. Meanwhile, Bank of America maintained a Neutral rating, citing weak consumer sentiment and intensifying competition despite raising its target price to HKD 399.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)