Lao Pu gold (06181) announced that the group is expected to achieve net... before June 30, 2024.
According to the announcement released by Lao Pu Gold (06181), the group is expected to achieve a net profit from RMB 0.55 billion to RMB 0.6 billion for the six months ending June 30, 2024, an increase of about 180% to 205% compared to the net profit of about RMB 0.197 billion for the six months ending June 30, 2023.
The announcement stated that the main reasons for the increase in net income are: 1. the expansion of the group's brand influence, leading to the growth of revenue from existing stores including overall online and offline revenue; 2. the continuous optimization, promotion, and iteration of the group's brand products, which promotes sustained revenue growth; 3. changes in market consumption concepts and upgrades in consumption concepts, consumers prefer high-quality traditional gold products with significant cultural connotations and product value; and 4. compared to the same period in 2023, the company has added 6 new stores and expanded 1 store, generating incremental revenue contributions.
