LAOPU GOLD (06181) experienced a decline of more than 5% during the trading session. At the time of writing, the stock was down 3.85%, trading at HK$649, with a turnover of HK$638 million. On the news front, on March 11, LAOPU GOLD issued a positive profit alert for its annual results, forecasting a net profit of approximately RMB 4.8 billion to RMB 4.9 billion for the 2025 fiscal year, representing a year-on-year increase of about 226% to 233%. A research report from Jefferies noted that while revenue and net profit were largely in line with the firm's expectations, the adjusted net profit exceeded both its own and market forecasts by 10% to 15%. This is believed to be due to better-than-expected gross profit margins in the second half of 2025 and strong operational leverage. Separately, Daiwa released a report stating that following LAOPU GOLD's price increase announcement in February, and a recent pause in the gold price rally due to Middle East geopolitical tensions, market research indicates a cooling of consumer enthusiasm for gold products, with queuing times significantly shorter than before. Daiwa views this as a normal phenomenon, where customer traffic typically slows for one to two weeks after a price increase, and expects demand to gradually recover, driven by rising popularity of new products and continued support from gold prices.