Lao Pu Gold closed at HK$600 ($76.38) per share yesterday, with a total market value of HK$101 billion ($12.86 billion), becoming the first brand in the Hong Kong stock market’s gold and jewelry sector to surpass a market capitalization of HK$100 billion ($12.86 billion). Lao Pu Gold expects its net profit for the year to range between 1.4 billion RMB and 1.5 billion RMB ($193 million to $206 million), up 236% to 260% YoY. The company has boosted income growth by reducing the expansion of direct-operated stores and upgrading and renovating old stores in 2024.