Core Viewpoint - Gold mining and jewelry stocks experienced significant declines following the announcement of new tax policies related to gold trading, which aim to regulate the market and reduce speculative activities [1] Company Performance - Lao Pu Gold (06181) fell by 8.04%, trading at 629.5 HKD - Chow Tai Fook (01929) decreased by 6.18%, trading at 14.28 HKD - Shandong Gold (01787) dropped by 4.53%, trading at 31.22 HKD - China Gold International (02099) declined by 5.86%, trading at 123.7 HKD - Zijin Mining (02899) decreased by 3.41%, trading at 31.14 HKD [1] Industry Analysis - The Ministry of Finance and the State Taxation Administration released new tax policies aimed at clarifying tax obligations in the gold trading sector, addressing previous ambiguities that allowed for tax avoidance [1] - The new regulations categorize gold based on "purity + function," which is intended to suppress speculative trading and reduce compliance costs for legitimate investments [1] - According to Huatai Futures, the short-term impact of the policy may lead to increased gold prices, putting pressure on physical demand; however, in the long term, the standardization of gold investment could enhance its financial attributes and institutional ownership [1] - The ongoing global financial instability is expected to sustain medium to long-term demand for gold, despite the potential increase in holding costs that may drive wealth towards tangible assets or the stock market, thereby stimulating the economy [1]

Core Viewpoint - The recent announcement of new tax policies regarding gold by the Ministry of Finance and the State Taxation Administration has led to a significant decline in the stock prices of gold jewelry companies in Hong Kong, indicating market concerns over the impact of these policies on the industry [1][2]. Group 1: Market Reaction - Gold jewelry stocks collectively fell, with notable declines: Luk Fook Holdings down 7.96%, Chow Tai Fook down 7.49%, and Lao Poo Gold down 7.30% [3]. - The overall market sentiment reflects apprehension regarding the new tax regulations and their implications for gold consumption and investment [1]. Group 2: Tax Policy Implications - The new tax policy aims to differentiate between investment and non-investment uses of gold, reducing double taxation and lowering transaction costs [1]. - Analysts suggest that the policy primarily targets investment gold transactions, while the direct impact on consumer purchases of gold jewelry is expected to be minimal [2]. - However, if demand for investment gold shifts towards exchanges, the supply of non-exchange gold may decrease, potentially increasing production costs for gold jewelry and affecting retail prices [2]. Group 3: Company Performance - The market capitalization of affected companies is as follows: Luk Fook Holdings at 13.445 billion, Chow Tai Fook at 138.898 billion, Lao Poo Gold at 111.919 billion, and Chow Sang Sang at 8.773 billion [3]. - The price changes reflect a broader concern about the sustainability of profit margins in the gold jewelry sector under the new tax regime [1][2].

Group 1 - Gold mining and jewelry stocks experienced significant declines, with notable drops including Lao Pu Gold down 8.04% to 629.5 HKD, Chow Tai Fook down 6.18% to 14.28 HKD, and Shandong Gold down 4.53% to 31.22 HKD [1][1][1] - The Ministry of Finance and the State Taxation Administration announced new tax policies regarding gold, aiming to clarify previous ambiguities in gold trading taxes and reduce speculative activities in the market [1][1][1] - A report from Huatai Futures suggests that while the new policy may pressure physical demand for gold in the short term, it could enhance the financial attributes of gold investments in the long term, making them more appealing to institutional investors [1][1][1] Group 2 - The new regulations categorize gold based on "purity + function," which is intended to suppress speculative arbitrage in the gold market and lower compliance costs for investors [1][1][1] - The potential increase in holding costs for gold may lead to a shift of household wealth towards the real economy or stock market, which could further stimulate economic activity [1][1][1]

每经AI快讯，老铺黄金(06181.HK)重挫逾7%，截至发稿，跌7.3%，报634港元，成交额2.35亿港元。 ...

Laopu Gold Co., Ltd. (the "Company") – Notice of Publication of Circular and Notice of Extraordinary General Meeting (the "Current Corporate Communications") The Current Corporate Communications of the Company have been published in English and Chinese languages and are available on the website of The Stock Exchange of Hong Kong Limited at www.hkexnews.hk and the Company's website at www.lphj.com. If you have any difficulty in receiving or gaining access to the Current Corporate Communications posted on the ...

(A joint stock limited company incorporated in the People's Republic of China with limited liability) ( 於中華人民共和國註冊成立的股份有限公司） (Stock Code 股份代號: 6181) If the Company does not receive a functional email address in your reply, until such time that the functional email address is provided to the Share Registrar, you may (i) be unable to receive any notifications regarding the publication of Corporate Communications; (ii) need to proactively check the Company's website and the HKEXnews website to keep up with the ...

Laopu Gold Co., Ltd. 罈 ꎦ ꆄ肅⟧剣ꣳⰖ （股份代號：6181） 2025年11月18日（星期二）舉行的 臨時股東會之代表委任表格 | 與本代表委任表格有關之股 | 未上市股份 | | --- | --- | | （附註1） 份數目 | H股 | 本人╱吾等 （附註2） ， 地址為 為老鋪黃金股份有限公司（「本公司」） 股未上市股份╱H股之登記持有人 （附註3） ， （於中華人民共和國註冊成立的股份有限公司） 附註： 茲委任大會主席，或 地址為 為本人╱吾等的代表，並代表本人╱吾等出席本公司將於2025年11月18日（星期二）上午十時正於中國北京市東城區東長安街1號東方君悅 大酒店君悅宴會廳舉行的臨時股東會（「大 會」）或 其 任 何 續 會，依 照 下 列 指 示 就 大 會 通 告 所 載 決 議 案 投 票。如 無 作 出 指 示，則 代 表 可 自 行 酌情投票。除文義另有所指外，本代表委任表格所用詞彙具有與本公司日期為2025年11月3日的臨時股東會通函（「臨時股東會通函」）內 所 界定者相同的涵義。 | | （附註6） 普通決議案 | （附註5） 贊 成 | （附註5） 反 ...

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通告的內容概不 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 通 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。 Laopu Gold Co., Ltd. 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） （股份代號：6181） 臨時股東會通告 茲通告 老 鋪 黃 金股份有限公司（「本公司」）謹定於2025年11月18日（星 期 二）上 午 十時正於中國北京市東城區東長安街1號東方君悅大酒店君悅宴會廳召開臨時 股東會（「臨時股東會」），以 審 議 並 酌 情 通 過 下 列 決 議 案（無 論 有 無 修 訂）。除 文 義 另 有 所 指 外，本 通 告 所 用 詞 彙 與 本 公 司 日 期 為2025年11月3日的通函所界定 者 具 有 相 同 涵 義。 1. 審 議 及 批 准 建 議 選 舉 第 三 屆 董 事 會 董 事 的 議 案： 1.1 審 議 及 批 准 選 舉 徐 高 明 先 生 為 第 三 屆 董 事 會 執 行 董 事； ...

Laopu Gold Co., Ltd. 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） 此乃要件 請即處理 閣下如 對本通函的任何方面或應採取的行動 有任何疑問，應諮詢 閣下的股票經紀或其 他註冊證券交易商、銀行經理、律師、專業會計師或其他獨立專業顧問。 閣下如已售出或轉讓 名下所有 老 鋪 金股份有限公司 的 股 份，應 立 即 將 本 通 函 交 予 買 主 或承讓人，或經手買賣或轉讓的銀行、股票經紀或其他代理人，以便轉交買主或承讓人。 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通函的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就本通函的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。 （股份代號：6181） (1) 建議董事會換屆選舉 (2) 建議監事會換屆選舉 (3) 2025年中期利潤分配方案 (4) 建議採納股息政策 (5) 建議修訂《公司章程》 及 (6) 臨時股東會通告 本 封 面 所 用 詞 彙 具 有 本 通 函「釋 義」一 節 所 界 定 者 的 相 同 涵 義。 本公司將於2025年11月18日（星期二）上午十 ...

Group 1 - The company, Lao Pu Gold (06181), announced that all conditions under the placement agreement have been met, and the placement was completed on October 30, 2025 [1] - A total of 3.7118 million new H shares were successfully placed at a price of HKD 732.49 per share to no fewer than six subscribers [1] - The total amount raised from the placement was approximately HKD 2.719 billion, with a net amount of approximately HKD 2.707 billion [1]