LAOPU GOLD (06181) surged 5.29% during intraday trading on Friday, extending its recovery momentum as improving investor sentiment drove a strong technical rebound following last week's sharp selloff.

The stock had suffered a cumulative decline of over 27% across two consecutive trading days last week after second-quarter earnings fell significantly short of market expectations, despite the company issuing a positive profit alert showing H1 adjusted net profit growth of 83% to 85% year-over-year. The selloff created conditions for the current rebound, with the stock now recovering as bargain hunters step in.

Sentiment has been further boosted by the launch of a Qixi Festival pre-sale event at Beijing SKP starting July 23, where in-store queue times reached 2 to 3 hours during the promotional period. The visible recovery in foot traffic has helped correct earlier pessimistic narratives that the brand's queuing phenomenon had disappeared. Additionally, multiple major banks including Morgan Stanley, Guotai Haitong, and Jefferies have maintained positive ratings with target prices of HKD 590, HKD 605.88, and HKD 580 respectively, providing further support for market confidence.