LAOPU GOLD (06181) surged more than 9%. As of writing, the stock was up 9.01%, trading at HKD 859, with a turnover of HKD 1.775 billion.
On the news front, from January 24 to February 14, the SKP system launched its annual Lunar New Year shopping season.
Data from various SKP stores indicated that the demand for high-end gold products continued and intensified. Notably, LAOPU GOLD stores in cities like Beijing, Xi'an, Chengdu, and Wuhan once again witnessed concentrated queuing, with customer traffic exceeding last year's levels.
The report highlighted that by 7 a.m. on the opening day, January 24, the queue had already reached several hundred people.
By 10 a.m. that same day, LAOPU GOLD stores had distributed all their queue numbers for the day, reaching the stores' maximum daily reception capacity.
It is noteworthy that gold prices surged again at Monday's market open.
Spot gold broke through $5,000 per ounce for the first time. As of writing, it was quoted at $5,090.37 per ounce, representing an intraday gain of over 2%.
Kaiyuan Securities pointed out that the combined effect of rising gold prices and expectations of a price increase by LAOPU GOLD is strengthening consumer purchase intent and potentially increasing their budgets, keeping demand at a high level. They advise monitoring potential catalysts from better-than-expected Lunar New Year sales.
The brokerage believes that high-end traditional Chinese gold is still continuously breaking into new markets. As a scarce supplier in the high-end gold segment, LAOPU GOLD has established brand premium, is continuously expanding its presence in high-potential commercial districts, and is enhancing its operations and services for high-net-worth clients, indicating strong long-term growth momentum.
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