On June 8, Lao Pu Gold fell 4.96% in regular trading, trading at 478.6 HKD/share, with trading volume of 50.67 million HKD, extending its week-long decline. The selloff was driven by a deep pullback in international gold prices and a prior major target price cut from Citibank.

On the macro front, international gold prices have retreated sharply from highs, with multiple global investment banks downgrading their gold price outlook. Strong U.S. May non-farm payroll data exceeded expectations, fueling renewed Fed rate hike expectations and erasing gold's year-to-date gains. In early June, spot gold fell to around 4,328 USD/oz from its January peak of 5,598.75 USD/oz.

Adding to pressure, Citi recently slashed Lao Pu Gold's target price from 1,162 HKD to 700 HKD — a nearly 40% reduction — and cut FY2027-2028 revenue forecasts by 29%-30% and net profit estimates by 27%-28%. The bank noted that following a February price hike, Lao Pu Gold's premium over traditional gold jewelers exceeded 55%, causing price-sensitive customer attrition. Market data indicated nationwide store sales declined approximately 30% year-over-year in March-April, while Tmall 618 activity performance came in weaker than expected.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)