On the evening of February 20, Lao Pu Gold (HK: 6181), known as the “first ancient-style gold stock,” released its unaudited full-year financial data for 2024. The group expects to record a net profit of RMB 1.4 billion to 1.5 billion (approximately USD 194 million to 208 million), marking a year-on-year surge of 236% to 260% compared to 2023.
The group attributed the net profit increase during the reporting period to the following factors:
- The continuous expansion of the brand’s influence has created a significant market advantage, driving substantial growth in overall revenue from existing stores, including both online and offline channels.
- Ongoing product optimization, innovation, and iteration have contributed to sustained revenue growth.
- Compared to 2023, the company added seven new stores and upgraded or expanded four existing stores, contributing to incremental revenue growth.
Driven by its strong performance, as of February 21, Lao Pu Gold’s stock price surged 17.1% from the previous day to HKD 548.5 per share, bringing its total market capitalization to HKD 92.3 billion—just a step away from the HKD 100 billion milestone.
Notably, since its listing in June 2024, Lao Pu Gold’s stock price has skyrocketed by 1,258%.
Additionally, on the evening of February 20, multiple Lao Pu Gold stores announced that the company would implement a product price increase on February 25, 2025.
| Source: Company announcement
| Image Credit: Company website
| Editor: LeZhi
