Laopu Gold shares tumbled 23.76 percent on July 28 to 302.2 Hong Kong dollars, hitting a new low since January 2025. The drop came after the company issued a positive profit alert, forecasting tax-inclusive revenue of approximately 22.7 billion to 23.35 billion yuan for the first half of 2026, up about 60 to 65 percent year on year, and adjusted net profit of about 4.31 billion to 4.36 billion yuan, up about 83 to 85 percent, but the results fell short of market expectations. Morgan Stanley noted that second-quarter sales at the midpoint were around 3.5 billion yuan, reaching only 40 percent of the March level, with net profit also below forecasts, and maintained an overweight rating and a 590 Hong Kong dollar target price. Goldman Sachs cut its 2026 to 2028 net profit forecasts by 14 to 15 percent, lowering its target price from 650 to 560 Hong Kong dollars while keeping a buy rating. Citi reduced its target price from 659 to 507 Hong Kong dollars, and Jefferies maintained a buy rating and a 580 Hong Kong dollar target price. The stock has fallen 72.73 percent from its all-time high of 1,108 Hong Kong dollars last July, with a year-to-date decline of 51.10 percent, pressured by sharp swings in international gold prices and a reversion from lofty valuations.
Laopu Gold Co LtdProfit alert missed market expectations, leading to target price cuts by Goldman Sachs, Morgan Stanley, Citi, and Jefferies.
Lao Feng Xiang Co Ltd A