Changes in Hong Kong stocks | Old Gold (06181) rose more than 4%, the price of gold recorded the biggest increase in five months in a single day, and the company's profit improvement logic is clear

The Zhitong Finance App learned that Old Shop Gold (06181) rose more than 4%. As of press release, it had risen 4.06% to HK$354, with a turnover of HK$444 million.

According to the news, overnight spot gold hit an intraday high of 4328.20 US dollars/ounce, closing at 4,308 US dollars, up more than 4% in a single day, the biggest one-day increase in five months. Trump's latest statement on the reopening of negotiations in the Strait of Hormuz ignited the market's geographical premium expectations; at the same time, global central bank gold reserve data expanded beyond expectations in the second quarter. It is particularly remarkable that the Bank of Korea restarted gold purchases after a lapse of 13 years, further strengthening the market's confidence that the central bank's demand will continue to be underpinned.

Caitong Securities pointed out that recently, old stores have been making frequent moves, and many high-end shopping malls have opened new stores or been upgraded, showing that old stores have strong brand premium capabilities and control over luxury channels. Guojin Securities believes that with the peak season of Tanabata, National Day, and year-end gift giving in the second half of the year, consumption is expected to return in the third and fourth quarter. In terms of profitability, the net profit growth rate in the first half of the year surpassed revenue by a margin. The core was a marginal decline in the cost of gold prices, a stable premium for the brand's one-price products, the gross margin continued to rise, and the profit improvement logic was clear.