Lao Pu Gold (06181) rose over 5% in early trading, reaching a new high of HKD 89.95. As of press time, it increased by 4.44%, and recorded at HKD 89.3, with a turnover of HKD 10.4582 million and a total market value exceeding HKD 15 billion.
Lao Pu Gold (06181) rose over 5% in early trading, reaching a new high of HKD 89.95. As of press time, it increased by 4.44%, and recorded at HKD 89.3, with a turnover of HKD 10.4582 million and a total market value exceeding HKD 15 billion.
On the news front, as of August 16th, Hang Seng Index Company announced the quarterly review results of the Hang Seng Index Series as of June 30, 2024. All changes will be implemented after the closing of September 6 and effective from September 9. Among them, Lao Pu Gold was included in the Hang Seng Composite Index, and AXIN International said that the company is expected to be included in the Hong Kong stock connect list.
In addition, Lao Pu Gold's Yingxi announcement shows that it is expected to achieve net profit of approximately RMB 0.55 billion to RMB 0.6 billion in the first half of the year, an increase of about 180% to 205% year-on-year. Sinolink Securities pointed out that Lao Pu Gold's profitability model is more similar to that of international high-end jewelry companies, and ROE is mainly driven by net interest margin. The bank continued to point out that the company's high-end customers are dominant, and the rapid expansion of members drives growth. According to the prospectus, the revenue of customers in 2023 with a per capita income of 0.05-0.3 million and loyal members of 0.093 million people accounts for 30%. The company's products have both value preservation and high-end consumption attributes, and it is expected to continue to attract high-end customers' self-enjoyment, gifting, and collection needs.