On July 20, Laopu Gold rose 3.6% in regular trading, trading at 362.8 HKD/share, with turnover of approximately 41.78 million HKD. The stock had previously declined for multiple consecutive sessions, approaching its 52-week low of 342.8 HKD.

On the news front, despite gold price volatility and a 63% year-over-year plunge in Tmall flagship store sales in Q2 weighing on the stock, UBS, Goldman Sachs, Citi, and Morgan Stanley all maintained Buy ratings with target prices ranging from 590 to 659 HKD, representing significant upside from current levels. UBS noted the stock is oversold, citing potential catalysts including better-than-expected H1 results and overseas store openings in H2, and projected H1 revenue and net profit growth of 93% and 118% year-over-year respectively. Goldman Sachs cut its target price from 1,108 to 650 HKD but maintained its Buy rating, estimating full-year earnings of 8 billion yuan with H1 net profit of 4.7 billion yuan intact.

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