LAOPU GOLD (06181) fell further, dropping over 5%. As of writing, the stock was down 5.63% to HK$503, with a turnover of HK$299 million.

Recent expert predictions for the SKP mall indicated that LAOPU GOLD's same-store sales at SKP in April might have declined 40%-60% year-on-year. Citi noted that same-store sales performance at LAOPU GOLD's Beijing SKP location is highly volatile. This is primarily due to a higher proportion of purchasing agent activity—typically representing price-sensitive customers—and the timing of promotional events. Consequently, the store tends to outperform others in an upward trend and underperform in a downward trend.

Puyin International released a report last month stating that short-term data from SKP malls cannot represent the overall same-store sales performance. The bank believes LAOPU GOLD's current share price has largely factored in the market's pessimistic expectations for same-store sales and revenue for the company's second to fourth quarters following the drop in gold prices. Puyin International suggests that the actual revenue and profit performance could potentially deliver a positive surprise to the market.