Group 1: Silver Market Insights - The strong upward trend in spot silver prices is approaching $40 per ounce, with a potential breakout imminent [1] - Industrial demand for silver, particularly from solar panel applications, is supporting its price, leading to increased investments in silver-backed exchange-traded funds (ETFs) [1] - August marked the seventh consecutive month of expansion for these silver ETFs, the longest continuous inflow since 2020 [1] Group 2: Gold Market Insights - Gold remains a key hedge against short-term global policy fluctuations and growing skepticism regarding the Federal Reserve's credibility [1] - Morgan Stanley predicts that gold prices could reach $3,675 per ounce by the end of the year, with a potential rise to $4,000 per ounce by early next year [1] - The independence of the Federal Reserve is under threat, particularly following President Trump's attempt to remove a Fed governor, which could act as a strong bullish catalyst for gold prices [1] Group 3: Related Companies in Gold and Silver - Key companies in the gold industry include Zijin Mining (601899)(02899), Shandong Gold (600547)(01787), and Zhaojin Mining (01818) [2] - In the silver sector, China Silver Group (00815) reported a revenue of RMB 2.33 billion for the six months ending June 30, 2025, a year-on-year increase of 0.5%, with a profit attributable to shareholders of RMB 54.91 million, up 167.13% [3]

Group 1: Silver Market Insights - The strong upward trend in spot silver prices is approaching $40 per ounce, with a potential breakthrough imminent [1] - Industrial demand for silver, particularly from solar panel applications, is supporting its price, leading to increased investments in silver-backed exchange-traded funds (ETFs) [1] - In August, silver-backed ETFs experienced their longest continuous inflow since 2020, marking the seventh consecutive month of expansion [1] Group 2: Gold Market Insights - Gold remains a key hedge against short-term global policy volatility and growing skepticism regarding the Federal Reserve's credibility [1] - JPMorgan forecasts that gold prices could reach $3,675 per ounce by the end of the year, with a potential rise to $4,000 per ounce by early next year [1] - The independence of the Federal Reserve is under threat, particularly following President Trump's attempt to remove a Fed governor, which could act as a strong bullish catalyst for gold prices [1] Group 3: Related Companies in the Gold Industry - Key companies in the gold industry include Zijin Mining (02899), Shandong Gold (01787), Zhaojin Mining (01818), and others [2] Group 4: Related Companies in the Silver Industry - China Silver Group (00815) reported a revenue of RMB 2.33 billion for the six months ending June 30, 2025, a year-on-year increase of 0.5%, with a profit attributable to owners of RMB 54.91 million, up 167.13% [3]

Core Viewpoint - The company, Laopu Gold, experienced a decline in stock price following the announcement of a share reduction by its employee incentive platform, while the controlling shareholders did not participate in the reduction [2] Group 1: Share Reduction and Incentive Plans - Laopu Gold's employee incentive platform reduced its shareholding through block trading, while the controlling shareholders did not reduce their stakes [2] - The company approved several employee share incentive plans, recognizing share-based payment expenses of RMB 28.626 million and RMB 8.633 million for the years 2024 and 2023, respectively [2] Group 2: Financial Performance - In the mid-year report for 2025, Laopu Gold reported revenue of RMB 12.354 billion, a year-on-year increase of 251%, and an adjusted net profit of RMB 2.35 billion, up 290.6% [3] - The growth in revenue and profit is attributed to the expanding brand influence and continuous product optimization, which supported significant revenue growth across both online and offline channels [3] Group 3: Product Pricing and Market Strategy - On August 25, Laopu Gold raised prices for most of its gold jewelry products by 10%-12%, with price increases ranging from RMB 1,000 to RMB 3,000 [3] - The maximum number of H-shares that may be issued under the employee incentive plan is 9.4774 million, representing approximately 5.5% of the total issued shares as of the mid-year report date [3] Group 4: Stock Price Movement - Laopu Gold's stock price has been volatile, previously reaching a high of HKD 1,108 per share on July 8 [4]

Group 1: Market Overview - The Hang Seng Index fell by 0.66%, down 165 points, closing at 25,035 points, while the Hang Seng Tech Index decreased by 1.04% [1] - Early trading volume in Hong Kong stocks reached HKD 210.8 billion [1] Group 2: Chip Industry Insights - According to TrendForce, the proportion of external chip suppliers in China's AI server market is expected to drop from 63% in 2024 to 42% by 2025, while local chip suppliers' share may rise to 40%, indicating a trend towards domestic substitution [1] - Chip stocks saw gains, with Shanghai Fudan up 5.79%, SMIC up 8.27%, and Huahong Semiconductor up 4.64% [1] Group 3: Company Performance Highlights - China Cinda's stock rose by 9.74% after reporting a 5.8% year-on-year increase in net profit for the first half of the year, reinforcing its advantage in the non-performing asset management sector [2] - Yadea Holdings' stock increased by over 5% as its net profit for the first half of the year surged nearly 60%, with the new national standard expected to usher in a new industry cycle [3] - CNOOC's stock rose by 4.4% following a mid-term net profit of approximately CNY 69.5 billion, with further potential in overseas exploration [4] - Television Broadcasts' stock fell over 9%, reporting a loss of HKD 108 million for the first half of the year, but expects to achieve positive net profit for the year [5] - Alibaba's stock declined by 3.74% ahead of its first fiscal quarter earnings report, with market concerns regarding the impact of flash sale investments on profits [6] - Lao Pu Gold's stock dropped nearly 4% due to a reduction in shares by the company's incentive platform, although the controlling shareholder did not sell any shares [7] - Smoore International's stock fell over 8%, with a nearly 28% year-on-year decrease in net profit for the first half of the year, affected by increased R&D expenditures [8]

Core Viewpoint - The stock of Lao Pu Gold (06181) has experienced a decline of nearly 4% in early trading, attributed to shareholder plans to reduce holdings and cash out approximately HKD 19.75 billion to HKD 20.09 billion [1] Group 1: Stock Performance - Lao Pu Gold's stock price fell by 3.24% to HKD 701, with a trading volume of HKD 25.03 billion [1] - Significant pre-market transactions involved 286.08 million shares at an average price of HKD 692.62, totaling approximately HKD 19.81 billion [1] Group 2: Shareholder Actions - On August 27, media reports indicated that shareholders plan to reduce approximately 2.86 million shares [1] - On August 28, Lao Pu Gold announced that its share incentive platform reduced company shares through block trading, with the controlling shareholder not participating [1] Group 3: Financial Performance and Outlook - According to Cinda Securities, the company's gross margin was under pressure in the first half of the year due to significant price adjustments in gold [1] - The company completed its second product price adjustment of the year on August 25, with an average price increase of 12%-13% despite stable gold prices since May [1] - The price adjustments are expected to strengthen the company's high-end brand positioning and support gross margin recovery and sales growth in the second half of the year [1]

Group 1 - The stock of Lao Pu Gold (06181) experienced a decline of nearly 4% in early trading, currently down 3.24% at 701 HKD, with a trading volume of 2.503 billion HKD [1] - On August 27, reports indicated that shareholders of Lao Pu Gold plan to reduce their holdings by approximately 2.86 million shares, aiming to cash out between 19.75 billion to 20.09 billion HKD [1] - On August 28, Lao Pu Gold announced that its equity incentive platform reduced its shareholdings through block trading, with the controlling shareholder not participating and having no connection to the transaction [1] Group 2 - Significant block trades were observed before the market opened, involving 2.8608 million shares at an average price of 692.62 HKD per share, totaling approximately 19.81 billion HKD [1] - According to Cinda Securities, the company's gross profit margin faced temporary pressure in the first half of the year due to significant price adjustments in gold [1] - On August 25, the company completed its second product price adjustment of the year, with an average price increase of 12%-13% across products, despite gold prices stabilizing since May [1] - The price adjustments are expected to strengthen the company's high-end brand positioning and support the recovery of gross profit margins and sales growth in the second half of the year [1]

Core Viewpoint - The company, Lao Pu Gold (06181.HK), announced that its share incentive platform has reduced its holdings through block trading, while the controlling shareholders did not participate in this reduction [1] Group 1: Shareholder Changes - The share incentive platform consists of several management consulting partnerships, which have reduced their shares in the company [1] - The ordinary partner of Beijing Jinbu was changed from Hongqiao Jinj season consulting to a natural person nominated by the share incentive platform, who is not a related party of the company [1] - Following this change, Beijing Jinbu will no longer be controlled by the company's controlling shareholders, Xu Gaoming and Xu Dongbo, nor by Hongqiao Jinj season [1]

于2025年8月27日，北京金部的普通合伙人由红乔金季变更为该股份激励平台推举的自然人，该自然人 并非公司的关联人士。紧接上述变更后，北京金部将不再属于公司控股股东徐高明先生、徐东波先生及 红乔金季控制的实体，徐高明先生、徐东波先生及红乔金季不再于北京金部持有的公司股份中拥有权 益。 老铺黄金(06181)公布，公司股份激励平台北京金部企业管理咨询合伙企业(有限合伙)(北京金部)、北京 金积企业管理咨询合伙企业(有限合伙)、北京金谛企业管理咨询合伙企业(有限合伙)、北京金咏企业管 理咨询合伙企业(有限合伙)及北京金莅企业管理咨询合伙企业(有限合伙)(统称"股份激励平台")通过大宗 交易方式减持公司股份。公司控股股东徐高明先生、徐东波先生及北京红乔金季咨询顾问有限公司未进 行减持，亦未与本次减持存在关联。 ...

Core Viewpoint - The company, Lao Pu Gold (06181), announced that its share incentive platform has reduced its holdings through block trading, while the controlling shareholders did not participate in this reduction [1] Group 1: Shareholding Changes - The share incentive platform consists of several management consulting partnerships based in Beijing, which have collectively reduced their shareholdings in the company [1] - The controlling shareholders, Xu Gaoming and Xu Dongbo, along with Beijing Hongqiao Jinj Season Consulting Co., Ltd., did not reduce their holdings and are not associated with this reduction [1] Group 2: Management Changes - On August 27, 2025, the general partner of Beijing Jinbu will change from Hongqiao Jinj to a natural person nominated by the share incentive platform, who is not an associated person of the company [1] - Following this change, Beijing Jinbu will no longer be controlled by the company's controlling shareholders, and they will not hold any equity in the shares held by Beijing Jinbu [1]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 罈 ꎦ ꆄ肅⟧剣ꣳⰖ （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） 承董事會命 Laopu Gold Co., Ltd. （股 份 代 號：6181） 自願性公告 股份激勵平台減持股份 本公告乃由老鋪 黃 金股份有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）自 願 作 出。 本公司董事會（「董事會」）獲 悉，本 公 司 股 份 激 勵 平 台 北 京 金 部 企 業 管 理 諮 詢 合 夥 企 業（有 限 合 夥）（「北京金部」）、北 京 金 積 企 業 管 理 諮 詢 合 夥 企 業（有 限 合 夥）、北 京 金 諦 企業管理諮詢合夥企業（有 限 合 夥）、北 京 ...