On October 12, LAOPU GOLD fell 3.92% in regular trading, trading at HK$322.0 per share, with turnover of HK$39.36 million.

The decline followed a research report from Citi, which lowered its target price for LAOPU GOLD from HK$507 to HK$400 and reduced earnings forecasts, citing weaker-than-expected third-quarter sales recovery. The report noted that persistent gold price volatility has dampened consumer willingness to buy, extending the earnings recovery cycle. Citi accordingly cut profit forecasts for 2026, 2027, and 2028 based on lowered revenue expectations.

Citi also stated that although near-term performance may fluctuate, recent customer surveys indicate consumer behavior has not changed dramatically. The bank believes investors may be underestimating the company's competitive advantages and that the current valuation remains attractive.

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