Laopu Gold H1 Revenue RMB 22.7-23.35 Billion, Net Profit Up 83%-85% YoY, Sharp QoQ Decline, Shares Open Down

On July 28, Laopu Gold (06181. HK) opened down over 17% at HK$328, with a turnover of HK$314 million. The company issued a positive profit alert, expecting first-half revenue of RMB 22.7 billion to RMB 23.35 billion, up approximately 60% to 65% year-on-year, and net profit of approximately RMB 4.31 billion to RMB 4.36 billion, up approximately 83% to 85% year-on-year.

Based on the company's previously released preliminary first-quarter financial data, second-quarter revenue is estimated at RMB 2.3 billion to RMB 3.95 billion, and net profit at RMB 510 million to RMB 760 million, representing a sharp sequential decline.