Core Viewpoint - Lao Pu Gold (06181) experienced a significant decline in stock price, dropping nearly 9% towards the end of trading, with a current price of 753 HKD and a trading volume of 1.92 billion HKD. The company announced a price increase for its products, which may impact its profit margins in the short term [1]. Company Summary - Lao Pu Gold raised its product prices recently, with adjustments typically made two to three times a year. In the first half of 2025, only one price adjustment was made in February, leading to a gross margin of 38.1%, a decrease of 3.2 percentage points year-on-year [1]. - As of the end of June, approximately 69.05 million shares of Lao Pu Gold are set to be unlocked, representing 41.01% of the total share capital. The shareholders involved in the unlocking include early investors, founder Xu Gaoming, and an employee stock ownership platform [1]. Industry Summary - Nomura's research report indicates that Lao Pu Gold is a direct beneficiary of the recent strong rise in gold prices. The robust performance of gold prices, along with the People's Bank of China increasing its gold reserves, has strengthened consumer confidence in purchasing gold and gold products as a means of asset and wealth preservation [1]. - The second price increase in 2025 is expected to help protect the company's profit margins in the second half of the year [1].
老铺黄金尾盘跌近9% 金价上涨压缩公司毛利率 产品涨价有望保护下半年利润率