UBLAOPU@EC2610B

JPMorgan Raises Profit Forecast for Lao Pu Gold and Maintains Overweight Rating

Morningstar Provides First Fair Value Estimate for Lao Pu Gold

Citi Report: Gold Price Drop Leads to Double-Digit Decline in SKP Same-Store Sales

Old Shop Gold to Hold 2025 Annual General Meeting to Approve Dividend Plan

Citi Maintains Old Shop Gold's Target Price and Buys Rating

Phillip Securities Maintains Buy Rating on Lao Pu Gold H Shares

Lao Pu Gold Clarifies International Strategy, Expanding into Southeast Asia and Europe Americas Markets

GF Securities and Citibank Maintain Buy Rating for LaoPu Gold's H-Share

CGS International Maintains Buy Rating on Lao Pu Gold H Shares

CICC Maintains Buy Rating on Laopu Gold's H-Share, Sets Target Price at HKD 1,079.06

Morgan Stanley Upgrades Old Shop Gold's Profit Forecast and Maintains Overweight Rating

Nomura Raises Forecast and Target Price for Old Store Gold

UBS Raises Old Shop Gold Target Price to 930 HKD

Goldman Sachs Report: LaoPu Gold Surpasses Expectations in 2025, Maintains Buy Rating

Citi Analyst Gives Buy Rating to Lao Pu Gold

LAOPU GOLD released FY2025 9 Months Earnings on March 23, 2026 (BJT) with actual revenue of HKD 21.55 B and EPS of HKD 22.6131

LAOPU GOLD released FY2025 Q3 earnings on March 23 (BJT), actual revenue HKD 0, actual EPS HKD 0

Laopu Gold Raised Funds at High Position

Lao Pu Gold Announces Preliminary Q1 2026 Financial Data

Laopu Gold's Full-Year Net Profit Exceeds Expectations at 4.87 Billion Yuan

SOMERLEY CAP

CPM GROUP

NICHE-TECH SEMI

TIANLI HOLDINGS

FUTONG TECH

SINO ICT

COSMOS MACH

UBOT HOLDING

AHSAY BACKUP

GW TIANDI

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06181

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GOAU

GDXJ

At yesterday's close, Chow Tai Fook's daily MACD bearish signal has initially formed, indicating a weakening of the upward momentum in the short term. The total trading volume for the day was approximately HKD 60 million, with trading activity at a relatively low level, showing insufficient short-term trading interest in this jewelry retail leader. As a representative stock in the Hong Kong consumer sector, Chow Tai Fook's performance reflects changes in market expectations regarding the recovery of consumption in mainland China to some extent. The current weakening of technical indicators may suggest that consumer confidence still carries uncertainties. On the news front, Dalio recently suggested allocating 5%-15% to gold assets, and the attention on gold as a safe-haven asset is increasing, but this has a dual impact on Chow Tai Fook. On one hand, high gold prices are beneficial for increasing the unit price and gross margin of gold jewelry; on the other hand, high gold prices may suppress some consumers' willingness to purchase, especially in an environment of increasing macro uncertainties, where the spending elasticity of non-essential consumer goods is more easily squeezed. In the same sector, Laopu Gold rose 3.08% yesterday, performing relatively well, but it is positioned in the high-end gold jewelry segment, with a different customer base and pricing strategy compared to Chow Tai Fook. Hong Kong's GDP growth in the first quarter was strong, and the unemployment rate fell to 3.7%, providing a positive tone for the consumption environment, but the market is more concerned about the quality of consumption recovery in first- and second-tier cities in mainland China. From a technical perspective, Chow Tai Fook's trading volume was approximately HKD 60 million, indicating thin liquidity. The bearish signal appeared in a low-volume environment, and while it does not represent a large-scale sell-off, the lack of willingness from bulls to take over is also clear

Technical Forecast

CHOW TAI FOOK

Agnico Eagle Mines

ZHONGJIN GOLD

SD-GOLD

LAOPU GOLD

MaxWealth CSI SH-SZ-HK Gold Industry Equity ETF

Us Gbl GLD & Met

ChinaAMC Gold ETF

EFUND GOLD MI-U

Roundhill Gold Miners Weeklypay ETF

SPDR Gold Shares

VanEck Junior Gold Miners ETF

iShares Gold Trust

YieldMax Gold Miners Opt Inc Strgy ETF

GLOBAL X Gold Explorers

MENGNIU DAIRY

LI NING

Laopu Gld HK SDR 50to1

LI NING-R

Pre-market trend | CHOW TAI FOOK (1929.HK) 5/4 Jewelry leader weakens, consumer recovery encounters cooling?

518880

J.P. Morgan analyst Qian Yao has reaffirmed a Buy rating for Laopu Gold Co. Ltd. Class H (6181) as of April 28, with a price target set at HK$1,296.00. The stock has a consensus rating of Strong Buy among analysts, with an average price target of HK$997.91. Yao is ranked #6195 out of 12163 analysts according to TipRanks.

Tip Ranks

Huaan Yifu Gold ETF

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

J.P. Morgan Sticks to Their Buy Rating for Laopu Gold Co. Ltd. Class H (6181)

159562

JPM's research report indicates a lower likelihood of LAOPU GOLDshare placement in the near term, despite a 22% decline in shares since April due to retail sales concerns and gold price volatility. The bank maintains an Overweight rating, citing resilient demand and upgraded distribution channels. JPM raised its earnings forecasts by 5% to 8% and set a target price of HKD1,296, reflecting a 19x forecast price-to-earnings ratio for next year, highlighting an attractive risk-reward profile.

AASTOCKS News

VanEck Gold Miners ETF

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

JPM: Lower Likelihood of Share Placement by LAOPU GOLD  in Near Term; Attractive Valuation, Rated Overweight

As of yesterday's close, LAOPU GOLD (6181.HK)

Morning Trend | LAOPU GOLD (6181.HK) Approaching Resistance Level, Short-term Variables Increasing

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06809

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06618

YOFC(06869) rose 17.16%, with a trading turnover 6.7 Billion HKD, and a year-to-date rose 378.1%. MONTAGE TECH(06809) rose 8.3%, with a trading turnover 580.9 Million HKD, and a year-to-date rose 109.9%. MUYUAN(02714) fell 6.14%, with a trading turnover 220.5 Million HKD, and a year-to-date rose 2.6%. FAST RETAIL-DRS(06288) fell 5.35%, with a trading turnover 63.9 Thousand HKD, and a year-to-date rose 26.2%.

- The Hang Seng Index fell by 1.22%, with a year-to-date increase of 2.1%, while the Hang Seng Technology Index decreased by 1.93%, reflecting a year-to-date decline of 10%.  
- Longi Green Energy (06869) rose by 17.16% with a transaction volume of 6.67 billion HKD, marking a cumulative increase of 378.1% for the year.  
- Meanwhile, companies like Yangtze Memory (06809) and Muyuan Food (02714) experienced mixed results, with Yangtze Memory increasing by 8.3% and Muyuan decreasing by 6.14%.

Top Gainers&Losers

YOFC

MONTAGE TECH

MUYUAN

FAST RETAIL-DRS

CATL

JD HEALTH

Top 5 HK Stock Gainers/Losers (>100B) (4.22)

Huachuang Securities analyst maintained a Buy rating on Laopu Gold Co. Ltd. Class H yesterday and set a price target of HK$806.00.Claim 30% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Laopu Gold Co. Ltd. Class H has an analyst consensus of Strong Buy, with a price target consensus of HK$994.64.

Polaris

Huachuang Securities Reaffirms Their Buy Rating on Laopu Gold Co. Ltd. Class H (6181)

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Most Hong Kong consumer stocks declined, with YUM China falling more than 5%, CHOW SANG SANG dropping over 4%, and LAOPU GOLD, ZHOU HEI YA, and HAIDILAO each falling more than 3%

Wallstreetcn

ZHOU HEI YA

HAIDILAO

YUM CHINA

CHOW SANG SANG

YUM China

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03317

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00914

01919

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BIREN TECH(06082) rose 26.65%, with a trading turnover 1.6 Billion HKD, and a year-to-date rose 149.3%. ILUVATAR COREX(09903) rose 17.47%, with a trading turnover 863.6 Million HKD, and a year-to-date rose 201.4%. LAOPU GOLD(06181) fell 2.67%, with a trading turnover 526.2 Million HKD, and a year-to-date rose 6%. ZTE(00763) fell 2.34%, with a trading turnover 715.4 Million HKD, and a year-to-date fell 13.8%.

BIREN TECH

ILUVATAR COREX

GIGADEVICE

XUNCE

DONGFANG ELEC

CONCH CEMENT

COSCO SHIP HOLD

TECHTRONIC IND

Top 5 HK Stock Gainers/Losers (>100B) (4.16)

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09926

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SKB BIO(06990) rose 6.97%, with a trading turnover 458.1 Million HKD, and a year-to-date rose 32.3%. AKESO(09926) rose 6.89%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 30.4%. MINIMAX-W(00100) fell 10.88%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 413.6%. KNOWLEDGE ATLAS(02513) fell 8.54%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 646.1%.

SKB BIO

AKESO

INNOVENT BIO

SBP GROUP

MINIMAX-W

KNOWLEDGE ATLAS

GANFENGLITHIUM

Top 5 HK Stock Gainers/Losers (>100B) (4.15)

TCEHY

BABA

00700

The Hang Seng Index rose 197 points in the half-day session, with Alibaba and Tencent leading the gains, and Laopu Gold surged 6%. The market opened higher on expectations of easing tensions in the US-Iran conflict, reaching a peak increase of 344 points. Half-day turnover was HKD 134.9 billion. AIA and the "two oil giants" fell against the market trend, dragging down the overall market. Internet healthcare stocks such as JD Health and Alibaba Health generally rose. Lingrui's shares changed hands, with the stock price soaring 275% at one point

- The Hong Kong stock market opened positively, with the Hang Seng Index initially rising 295 points, reaching a peak of 26,216 points, before settling at 26,069 points, up 197 points or 0.76%.  
- Notable movers included Alibaba and JD.com, which gained 4% and 6% respectively, while AIA and two major oil companies saw declines.  
- In U.S. markets, oil prices dropped significantly, and Nvidia shares surged 18%, reflecting a general optimism about easing tensions in the Middle East.

Stheadline

Tencent

Alibaba

TENCENT

BABA-W

CSOP HS TECH

FI2 CSOP HSI

BABA 2x Long Daily ETF - GraniteShares

Hwabao CSI HK Equities Internet ETF

Krne Csi China Internet

KraneShares 2x Long BABA Daily ETF

E Fund CSI HK Connect Internet ETF

FI CSOP HSI

FL2 CSOP HSI

The Hang Seng Index rose 197 points in the half-day session, with Alibaba and Tencent leading the gains. Laopu Gold surged 6%, and another stock changed hands skyrocketed by 233% | Hong Kong stock market opens

GOLD

GLDM

JNUG

On April 14, Jin10 reported that gold jewelry prices in China have increased compared to the previous day. According to Jin10, Laopu Gold's pure gold jewelry is priced at 1,543 yuan per gram, marking an 8 yuan increase from yesterday. Meanwhile, Chow Sang Sang's pure gold jewelry (selling price) is listed at 1,455 yuan per gram, reflecting a 12 yuan rise.

CoinLive

Gold.com

iShares MSCI Global Gold Miners

Pro Ultr GLD

Abrdn Gold ETF Trust

SPDR Gold Minishares

Abrdn Precious Metals Basket ETF Trust

Sprott JR Gold Miners ETF

Direxion Daily Gold Miners Bull 2X

Sprott GLD Miners Etf

Direxion Daily Jr Gold Miners Bull 2X

PRECIOUS METALS | Gold Jewelry Prices Rise in China

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XUNCE(03317) rose 15.61%, with a trading turnover 2.7 Billion HKD, and a year-to-date rose 609.7%. NIO-SW(09866) rose 7.47%, with a trading turnover 339.3 Million HKD, and a year-to-date rose 27.9%. JD HEALTH(06618) fell 9.43%, with a trading turnover 695.0 Million HKD, and a year-to-date fell 16.3%. COSCO SHIP ENGY(01138) fell 4.45%, with a trading turnover 571.4 Million HKD, and a year-to-date rose 94.5%.

- The Hang Seng Index decreased by 0.9%, with a year-to-date increase of 0.1%.  
- The Hang Seng Technology Index fell by 0.79%, down 12.6% year-to-date, while Xunji (03317) surged by 15.61% with a trading volume of 2.66 billion HKD, totaling a 609.7% increase this year.  
- NIO-SW (09866) rose by 7.47%, with a trading volume of 340 million HKD, and JD Health (06618) dropped by 9.43%, totaling a 16.3% decrease year-to-date.

NIO-SW

SINOTRUK

BYD COMPANY

COSCO SHIP ENGY

HENGRUI PHARMA

Top 5 HK Stock Gainers/Losers (>100B) (4.13)

Phillip Securities has reaffirmed its Buy rating for Laopu Gold Co. Ltd. Class H (6181), setting a price target of HK$815.96. The stock closed at HK$654.00. The analyst consensus for the company is a Strong Buy, with an average price target of HK$995.71.

Phillip Securities Sticks to Their Buy Rating for Laopu Gold Co. Ltd. Class H (6181)

Gold prices have plunged, erasing all gains made since the start of 2026 and leaving LAOPU GOLD stores deserted. Despite announcing a 30% price hike on February 28, the market is taking a wait-and-see approach regarding whether its ancient craftsmanship can support the rising prices. While LAOPU GOLD's performance surged in 2025, consumer purchasing enthusiasm has waned after the gold price crash. Revenue for the first quarter of 2026 is projected to reach 16.5 billion to 17.5 billion yuan, with a net profit of approximately 3.6 billion to 3.8 billion yuan

- Gold prices have sharply declined, erasing all gains since 2026, impacting consumer interest in premium gold brands like Laopul.  
- Despite a successful price increase of about 30% earlier this year, Laopul's prices now seem high amid falling market rates, raising concerns about the brand's future sales performance.  
- Analysts note that while Laopul's high profit margins have driven growth, ongoing price volatility and changing consumer sentiment may pose significant risks in the current market environment.

EFUND GOLD MI ETF

Gold Prices Plunge, Putting Newly Price-Hiked LAOPU GOLD in an Awkward Position

UBLAOPU@EC2610B(27865.HK)