On August 13, LAOPU GOLD fell 3.95% in regular trading, trading at 345.8 HKD/share, with turnover of HKD 400 million. The stock gave back gains after rebounding roughly 30% earlier in August.

On the news front, Morgan Stanley lowered its target price on LAOPU GOLD from 590 HKD to 505 HKD while maintaining an Overweight rating, citing weaker-than-expected Q2 results and a declining gold price environment. The bank cut its revenue and earnings forecasts for the company by 14% and 11-12% for the following two years respectively, estimating Q2 revenue declined over 30% year-over-year.

Adding to sentiment pressure, LAOPU GOLD launched its first-ever large-scale discount campaign, offering 10% off on most non-latest items. As a premium heritage gold brand that rarely discounts, the move was interpreted by the market as a signal of weakening demand. Reports also indicated that some second-hand luxury stores have stopped purchasing LAOPU GOLD products, citing difficulty in reselling at profitable prices.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)