Changes in Hong Kong stocks | Old Gold (06181) rose more than 9% in early trading, the gold price of the old store Shenzhen store was quietly 10% off, and some shopping malls offered discount promotions

The Zhitong Finance App learned that Old Shop Gold (06181) rose more than 9% in early trading. As of press release, it had risen 8.49% to HK$406.2, with a turnover of HK$413 million.

According to the news, according to a report by Shenzhen Commercial Daily, the reporter visited a number of old gold stores in Shenzhen and discovered that various types of gold jewelry have quietly begun to be “discounted by 10%.” The store clerk told the reporter, “Currently, most products in the store are directly discounted by 10%, starting in July. It is true that this kind of discount has never been strong before.” In addition, high-end shopping malls such as Xintiandi in Shanghai and Vientiane City in Hangzhou recently took the opportunity of opening new stores or expanding their stores to take the initiative to launch limited-time discount campaigns for old gold stores. According to consumer feedback, the actual transaction price of some products reached 15% off to 10% off after adding shopping mall black cards and joint activities.

According to a research report released by Nomura, the management of the old gold store said in an investor conference call that sales in the second quarter of this year were affected by falling gold prices, and that countermeasures were implemented during the period, such as launching more attractive rebates and gifts, launching new products at more affordable prices, and providing support and promotion to high-end customers. The results were satisfactory and will be expanded to more stores in the second half of the year. Nomura maintained confidence in the long-term growth of old gold stores, but as sales growth in the second quarter slowed slower than expected, it lowered performance forecasts, valuation benchmarks and target prices, and maintained a “buy” rating.