LAOPU GOLD (06181) experienced a decline of more than 6% during the morning trading session. As of the time of writing, the stock was down 6.2%, trading at HK$741, with a turnover of HK$209 million. The movement follows the company's announcement on February 18 that it will adjust its product prices on February 28. It is understood that LAOPU GOLD sells all its products at fixed prices and typically adjusts prices 2-3 times per year. The last price adjustment occurred on October 26, 2025. According to analysis, the benchmark gold price reached 1,108.92 yuan per gram as of February 13, representing an 11.2% increase from the price on the day of the last adjustment announcement (October 17, 997.17 yuan per gram). Furthermore, considering the increased value-added tax costs and referencing Chow Tai Fook's gold prices, the price on February 18 was 17.2% higher than on October 17. Currently, the per-gram prices for LAOPU's plain gold and inlaid products are approximately 1,600-1,700 yuan and 2,100-2,200 yuan, respectively (based on gold weight, before discounts). Given the company's target gross margin of 40%, the upcoming price adjustment is estimated to be in the range of 15%-20%.