Laopu Gld HK SDR 50to1 (HLPD.SG) Stock Forum, Discussions & Community Posts

Dolphin Research7 hours ago

PinnedLao Pu Gold: With gold prices softening, is the 'Hermès of gold' story shattered?

This earnings report reconfirms the legacy jeweler is not a true luxury brand, since genuine luxury volumes don't plunge just because gold prices fall. At its core, it is a gold retailer with high operating leverage, wrapped in an 'Eastern high-end luxury' narrative.

+9

Laopu Gold Financial Analysis

D

Dolphin Research10 hours ago

Pinned

Lao Pu Gold H1'26 First Take: headline revenue was mediocre, landing at the low end of prior guidance, pointing to weaker-than-expected June sales.

By mix, online and overseas channels materially beat Dolphin Research's prior view, with online share hitting a new high.

Profit delivery was solid, aided by low-cost gold inventory stocked in H2 last year and a Feb price hike, bringing GPM back to prior peaks.

On opex, as brand momentum strengthened, leading malls lowered take rates in H1, trimming the opex ratio; core OPM hit a record high.

Separately, inventory has reached RMB 19bn, indicating heavy restocking in H1 at higher gold prices and lifting the blended inventory cost.

This suggests GPM could see notable pressure in H2.$LAOPU GOLD(06181.HK)

D

Dolphin Research12 hours ago

NVDA Groq 3 LPX now in full production; ByteDance 'Doubao Work' debuts｜Daily News Recap

0825 | Dolphin Research Focus: Macro/Industry — 1) The U.S. Treasury Secretary said on Mon (local time) that a new round of long-bond buybacks will be executed on Sep 9, and the tool will remain active. The operations will cover 10–30Y USTs to address the recent spike in long-end yields.

This signals direct Treasury intervention at the long end, offering a short-term sentiment backstop for USTs. However, markets worry about the funding source for buybacks given a swollen fiscal deficit. If the effect is limited, long-end rates still face upside, which would keep a lid on global equity valuations...

HLPD

SGHLPD

Today’s Key News Recap

D

Dolphin ResearchJul 28 at 03:35 AM

NVDA CDS Hits Record High, Flashes Warning; BYD Humanoid Robot Set for Aug Debut | Daily News Recap

0728 | Dolphin Focus: Macro/Sector. 1) According to foreign media, Shanghai state-owned firms have begun small-batch production of domestically built immersion DUV lithography systems, with five units planned for this year. The first batch is slated for delivery to SMIC, Hua Hong Semiconductor, and CXMT.

Most components have been localized, but certain critical parts still rely on overseas suppliers. After delivery, fabs will require extended line qualification, making large-scale substitution of ASML tools unlikely in the near term.

The report catalyzed sentiment across the semiconductor equipment space, but has not been officially confirmed by the companies. Follow-up on delivery and yield qualification progress remains key...

HLPD

SGHLPD

Today’s Key News Recap

D

Dolphin ResearchMar 23 at 11:33 PM

Laopu Gold (Trans): Target GPM to stay at 40%-43%

Below is Dolphin Research's Trans from Laopu Gold's 2H2525 earnings call. For the earnings analysis, please see 'Laopu Gold: High-price follow-on; the Hermes of gold's big bet paid off!'

Laopu Gld HK SDR 50to1

SGHLPD

Laopu Gold Conference Minutes

D

Dolphin ResearchMar 23 at 08:52 AM

Laopu Gold: Secondary offering at highs; the gold 'Hermès' bet paid off!---

Gold soars; legacy shops’ big bet on stockpiling pays off

+8

Laopu Gld HK SDR 50to1

SGHLPD

Laopu Gold Financial Analysis

D

Dolphin ResearchMar 23 at 05:17 AM

Lao Pu Gold 2H25 First Take: Overall, H2 results were solid, with revenue and profit both growing rapidly. Ex admin expenses, which were slightly elevated on share-based comp, most metrics were marginally ahead of the Street.

On revenue, the company benefited from the gold upcycle and stronger brand reach that broadened its customer base. H2 revenue came in at RMB 14.9bn (+200% YoY).

By channel, online share jumped to 20% from 13%, helped by brand spillover and the scarcity of offline stores. Offline, sales rose 176% YoY, with same-store revenue +161%, pointing to throughput-driven growth at physical stores.

The company net-added four stores in H2, remaining disciplined on expansion. It prioritized enlarging footprints and optimizing locations at existing stores.

While management no longer breaks out the mix between plain gold and gold-inlay categories, channel checks suggest the share of higher-margin inlay products continued to rise in H2. This followed a dense slate of launches in the gold-inlay series.

With gold prices surging through H2, GPM compressed 3.8ppt to 37.2% as price hikes in Aug and Oct lagged bullion. On opex, operating leverage drove modest declines in selling and G&A ratios. Net profit reached RMB 2.6bn (+194% YoY), beating the Street; for more detail and the earnings call readout, stay tuned for Dolphin Research's follow-up review and transcript. $LAOPU GOLD(06181.HK)

D

Dolphin ResearchMar 11 at 03:25 AM

META secures 'Shrimp Pool' Moltbook; Laopu Gold issues a positive profit alert on strong earnings | Daily News Recap

0312 | Dolphin Research Watchlist.

🐬 Macro/Industry 1) The U.S. will release Feb CPI at 20:30 Beijing time on Wed, a key input for the Fed's rate-cut path. Recent Middle East tensions have lifted oil prices, increasing uncertainty around the print.

An upside surprise could push back cut expectations and weigh on growth stocks. In-line or softer readings would be supportive of risk assets.

🐬 Single Stock 1) $Meta Platforms(META.US) Meta announced the acquisition of AI agent community Moltbook. It is known in the industry as the 'Lobster Community'...

HLPD

SGHLPD

Today’s Key News Recap

D

Dolphin ResearchJan 9 at 02:27 AM

TSM Q4 rev. seen >NT$1 tn; GOOGL integrates Gemini into Gmail | Daily News Recap

0109 | Dolphin Research Focus. 🐬 Macro/Industry 1) HKEX announced it will add six stock options effective Jan 19, covering names such as Zijin Gold Intl, Laopu Gold, and Horizon Robotics.

The additions broaden derivatives choices and offer more risk management tools. They should also help lift liquidity in the underlying names.

🐬 Single Stock 1) $Taiwan Semiconductor(TSM.US) TSMC reported Dec revenue of NT$335.03bn, down 2.5% MoM but up 20.4% YoY. 2025 YTD revenue rose 31.6% YoY...

HLPD

SGHLPD

Today’s Key News Recap

D

Dolphin ResearchOct 22, 2025 at 03:39 AM

OpenAI showcases 'AI Browser' aiming at Chrome; Laopu Gold plans discounted share placement for financing | Today's Important News Recap

1022 | Dolphin Research Focus: 🐬 Macro/Industry 1. Recently, gold prices have experienced a significant decline. The French presidential office issued a joint statement with several European countries supporting the U.S. proposal for an immediate ceasefire between Russia and Ukraine. The Ukrainian president also indicated that the conflict is nearing an end, breaking the market's expectation of a prolonged geopolitical conflict. Coupled with recent mild tariff signals, risk aversion sentiment has cooled. Previously, gold prices had been rising continuously and were at a high level. When negative news emerged, the technical adjustment demand was activated, and long positions took profits and exited, leading to a drop in gold prices. 🐬 Individual Stocks 1. $LAOPU GOLD(06181.HK) Lao Pu Gold announced...

HLPD

SGHLPD

Today’s Key News Recap