Movement Alert｜Lao Pu Gold Falls 3.09% in Regular Trading, Citi Slashes Target Price by 40% as Same-Store Sales Decline Persists

Market Focus06-04 11:08

On June 4, Lao Pu Gold fell 3.09% in regular trading, trading at 503.0 HKD/share, with trading volume of 127 million HKD, extending its recent downward trajectory.

On the news front, Citi recently slashed its target price on Lao Pu Gold from 1,162 HKD to 700 HKD, a nearly 40% reduction, while cutting FY2027-2028 revenue forecasts by 29%-30% and net profit estimates by 27%-28%. The bank noted that following a February price hike, Lao Pu Gold's premium over traditional gold jewelers exceeded 55%, leading to price-sensitive customer attrition, with Tmall 618 performance weaker than expected. Additionally, market data indicated nationwide store sales declined approximately 30% year-over-year in March and April, driven by reseller destocking and gold price volatility. Field surveys showed previously crowded Beijing stores now experiencing noticeably sparse foot traffic. The broader gold jewelry sector remains under pressure as international gold prices face headwinds amid tightening monetary policy globally.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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