Laopu Gold shines vivid, hits new report forward of | Inventory Information
Investing.com — Laopu Gold, a top-tier jewellery model, noticed its shares attain a new high forward of the Lunar New Yr holidays, surpassing different main Chinese language retailers and luxurious manufacturers which were impacted by a lower in demand.
The company’s shares climbed by as a lot as 18% to 432.80 Hong Kong {dollars}, equal to US$55.58, setting a new intraday high. The shares closed 11% increased on Monday, outperforming the Hong Kong benchmark index which noticed a modest 0.7% gain.
Since their itemizing in Hong Kong in June, shares of the Chinese language heritage gold jewellery model have elevated roughly tenfold. In distinction, the has seen a 14% increase over the identical period, whereas shares of industry chief Chow Tai Fook Jewelry have decreased by 20%.
Laopu’s success since its institution in 2009 signifies that its distinctive product area of interest in “heritage gold” and handmade jewellery has been useful for the model, in response to a report by Citi when it started stock protection in November.
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