HK-listed Laopu Gold surges on robust earnings outlook; rivals climb

Laopu Gold Co

21/02/2025 04:25

** Shares of Laopu Gold  6181.HK  jump as much as 20.8% to
HK$566, post their highest and biggest one-day pct gain since
debut on June 28, 2024 
    ** The Chinese gold jewellery maker and retailer expects to
record net profit of 1.4 billion-1.5 billion yuan ($193.37
million-$207.18 million) for 2024, up 236%-260% from a year ago
    ** Co, with current market capitalisation of HK$90.58 bln
($11.66 bln), says the strong performance is due to expansion of
brand influence, which resulted in higher revenue from existing
boutiques across online and offline channels 
    ** Brokers said recent strength in gold price also aidded
demand for the precious metal
    ** Gold set for eighth weekly gain as tariff threats boost
safe-haven demand
    ** Shares of rival Chow Tai Fook Jewellery  1929.HK , with
market capitalisation of HK$78.8 billion, climb 3.8% to HK$8.13,
highest since October 8, 2024; Luk Fook  0590.HK  gains 1.2% 
    ** Hang Seng Commerce & Industry Index  .HSNC  surges 4.4x%,
Hang Seng Index  .HSI  rises 2.9%
    ** Shares of Laopu Gold has gained 94.2%, YTD  
    
    ($1 = 7.2401 Chinese yuan)
    ($1 = 7.7707 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))