On July 24, LAOPU GOLD fell 5.1% in regular trading, trading at 371.2 HKD/share, with turnover of approximately HKD 40.05 million. The decline was driven by a confluence of negative factors including persistent gold price weakness and deteriorating sales momentum.

On the news front, international gold prices have retreated nearly 28% from their early-year highs, briefly losing the USD 4,000 level. The company's Tmall flagship store recorded a 63% year-over-year plunge in Q2 sales, while offline foot traffic has weakened notably, with some Shenzhen stores quietly offering 10% discounts. Meanwhile, inventory surged from approximately RMB 4.088 billion at year-end to RMB 16.044 billion, raising impairment concerns amid falling gold prices. Citi highlighted that price-sensitive customers are being lost as the company's product premium has surged over 60% above traditional gold jewelers, compounded by the gold price retreat.

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