Shares of Laopu Gold fell to their lowest levels since May 20 after the Chinese jewelry upstart forecasted its net profit for the first half of 2025 would increase between 279% and 288% year over year, or between RMB 2.23 billion and RMB 2.28 billion ($311.11 million to $318.08 million).
The stock, which is up 203.07% for the year to date, rose nearly 4% in early trade, but pared back gains as investors locked in their profits.
While shares of Laopu Gold are on course for their ninth straight session of decline, they have skyrocketed by more than 2,000% since their listing last year.
The Hong Kong-listed company also reported in a filing to the Hong Kong stock exchange on Sunday that its projected revenue for the first half of the year would increase between 241% and 255% from the same period last year.
Concerns over rising gold prices and market downgrades in earning expectations have caused the stock to fall from its peak in early July, Morgan Stanley analysts said in a research report on Monday.
