On August 14, LAOPU GOLD fell 3.23% in regular trading, trading at 335.0 HKD/share, with turnover of HKD 324 million. The decline reflects continued pressure from investment bank downgrades and weak second-quarter performance expectations ahead of the company's interim results review on August 25.

Morgan Stanley recently issued a report noting that LAOPU GOLD's Q2 demand was highly correlated with gold prices, which fell approximately 13% during the quarter. As the company absorbed product pricing pressure, the bank estimates Q2 revenue declined over 30% year-over-year. Morgan Stanley cut its target price from 590 HKD to 505 HKD and reduced revenue and earnings forecasts by 14%, while maintaining an Overweight rating. Separately, Bank of America Securities slashed its target price significantly to 350 HKD, downgrading earnings estimates by 15-20% for the current and next fiscal years, noting Q2 revenue and net profit declined approximately 82-83% sequentially.

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