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06181
LAOPU GOLD
HKD
777.500-10.000
(-1.27%)
1D
AI Analysis for 06181
AI Analysis
High
795.000
Open
770.500
VWAP
773.00
Vol
997.00K
Mkt Cap
120.00B
Low
751.500
Amount
771.00M
EV/EBITDA(TTM)
53.00
Total Shares
176.00M
EV
32.00B
EV/OCF(TTM)
--
P/S(TTM)
7.00
Laopu Gold Co Ltd is a China-based company engaged in development, manufacturing and sales of gold jewelries. The Company provides manufacturing and maintenance and repair services. The products primarily comprise pure gold jewelry and gem-set jewelry (with diamonds or other gemstones inlaid in pure gold). Pure gold jewelry products range from accessories for daily wear, including pendants, bangles, rings and ear studs, to jewelry with greater gram weight, including ornaments, vessels for daily use and vessels for display. Gem-set jewelry products refers to jewelries that diamonds or other gemstones (such as colored stones) are inlaid into the pure gold settings. The Company operates in China’s market.
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News
6.5
04:33 AMaastocksG Sachs Predicts 4% Slowdown in China's Jewelry Market Growth This Year, Recommends LAOPU GOLD
China's Jewelry Market Growth: Goldman Sachs forecasts a slowdown in China's jewelry market growth to 4% in 2026, down from approximately 10% in 2025, due to high base effects and unstable consumption power, maintaining a Neutral outlook for the sector.
Gold Price Predictions: The broker anticipates gold prices will reach USD 5,400 per ounce by the end of 2026, representing a 25% year-over-year increase, with demand supported by rising prices but facing challenges in product margins and sales consumption.
Market Performance: The jewelry sector's stock prices have outperformed the Hang Seng Index (HSI), indicating a strong market performance despite the anticipated slowdown in growth.
Investment Recommendations: Goldman Sachs has a Buy rating on LAOPU GOLD (06181.HK), citing growth opportunities and setting a target price of HKD 1,128, despite current short selling pressures.
4.0
02:39 AMaastocksCMSI Launches LAOPU GOLD with Underweight Rating, Anticipates Significant Revenue Slowdown and Decline in Earnings Quality
Revenue Growth Prediction: CMSI forecasts that LAOPU GOLD will experience a significant slowdown in revenue growth, dropping from 220% in 2025 to approximately 30% in 2026.
Marketing Strategy Concerns: The company's current revenue is largely driven by FOMO marketing tactics rather than genuine sales growth, which raises concerns about its sustainability compared to true luxury brands.
Deteriorating Earnings Quality: The report indicates a decline in LAOPU GOLD's earnings quality, with a conservative store expansion plan focusing more on efficiency than growth, limiting its market presence.
Investment Rating and Target Price: CMSI has assigned an Underweight rating to LAOPU GOLD, setting a target price of HKD825.5 for the stock.
6.5
01-27aastocksHaitong International Maintains Outperform Rating on LAOPU GOLD; Strengthening Domestic and International Offline Presence
Revenue Growth Prediction: Haitong International forecasts LAOPU GOLD's revenue will increase by 217% YoY to RMB26.96 billion in 2025, with a significant rise expected in the second half of the year.
Business Performance Insights: The report indicates that LAOPU GOLD is experiencing faster growth in online sales compared to offline, and its international market expansion is surpassing domestic growth.
Stock Rating and Target Price: Haitong International maintains an Outperform rating for LAOPU GOLD, setting a target price of HKD948.4.
Market Context: The report also references a related analysis from M Stanley, suggesting that gold prices have not peaked and could potentially reach USD5,700 in the second half of the year.
6.5
01-26aastocksCiti Reports Strong Start to LNY Sales for LAOPU GOLD; Earnings Outlook Upgraded
Lunar New Year Promotions: SKP mall in Mainland China launched Lunar New Year promotional activities on January 24, leading to increased foot traffic for LAOPU GOLD, driven by rising gold prices and strong demand.
Revenue Growth Expectations: The broker anticipates triple-digit revenue growth during the Lunar New Year period and has raised its 2026 and 2027 revenue forecasts for LAOPU GOLD by 5% due to higher same-store sales growth expectations.
Earnings Forecast Adjustments: Following a positive outlook on LAOPU GOLD, the broker increased its 2026 net profit forecast by 5% and also raised the 2027 forecast by 5%, despite slightly lowering gross margin expectations to 38%.
Buy Rating and Target Price: The broker maintained a Buy rating for LAOPU GOLD with a target price set at HKD1,119, reflecting confidence in the company's performance amid the holiday sales boost.
1.0
01-26aastocksSKP Malls Unveils Spring Festival Events in China, Intensifying 'Laopu Gold Phenomenon' Compared to Last Year: Report
Stock Performance: LAOPU GOLD (06181.HK) saw a significant increase of 8.9% in its stock price, trading at HKD858 after reaching a peak of HKD898, with a turnover of HKD1.823 billion.
Spring Festival Campaign: China's luxury SKP malls launched a Spring Festival campaign from January 24 to February 14, which generated high consumer interest, leading to long queues and a bustling atmosphere at various locations.
Money Flow
Over the past 66 trading days, overall net money flow is 608.00M, with retail investors contributing 98.00M and major investors adding 443.00M.
Net Buy $ Volume
Net Sell $ Volume
Haitong International
Outperform
maintain
$948.4
2026-01-27
New
Reason
Haitong International has maintained an Outperform rating on LAOPU GOLD due to its strong projected revenue growth, with a forecasted 217% year-over-year increase to RMB26.96 billion in 2025. The firm highlights that LAOPU GOLD's business is expanding more rapidly online compared to offline, and its growth in overseas markets is surpassing that of the domestic market. This positive outlook supports their target price of HKD948.4.
Haitong International
Outperform
Price Target
$948.4
2026-01-27
maintain
New
Haitong International has maintained an Outperform rating on LAOPU GOLD due to its strong projected revenue growth, with a forecasted 217% year-over-year increase to RMB26.96 billion in 2025. The firm highlights that LAOPU GOLD's business is expanding more rapidly online compared to offline, and its growth in overseas markets is surpassing that of the domestic market. This positive outlook supports their target price of HKD948.4.
Citi
Buy
maintain
$1,119
2026-01-26
New
Reason
The analyst rating for LAOPU GOLD (06181.HK) was reiterated as a "Buy" due to several key factors:
1. Strong In-Store Foot Traffic: Observations from the SKP mall indicated noticeable in-store foot traffic during the Lunar New Year promotional activities, suggesting robust consumer interest and demand.
2. Rising Gold Prices: The recent upsurge in gold prices is believed to have further fueled strong demand for gold products, contributing to positive sales expectations.
3. Revenue Growth Expectations: The broker anticipates triple-digit revenue growth from the holiday promotion to continue through the Lunar New Year period, leading to an upward revision of revenue forecasts.
4. Increased Earnings Forecasts: The broker raised its 2026 and 2027 earnings forecasts by 5% each, reflecting higher same-store sales growth (SSSG) expectations and the potential of Lunar New Year sales.
5. Target Price Adjustment: The target price for LAOPU GOLD was set at HKD1,119, indicating confidence in the stock's future performance despite a slight downward revision in gross margin assumptions.
Overall, the combination of strong demand indicators, positive sales forecasts, and adjusted earnings expectations contributed to the analyst's decision to maintain a "Buy" rating.
Citi
Buy
Price Target
$1,119
2026-01-26
maintain
New
The analyst rating for LAOPU GOLD (06181.HK) was reiterated as a "Buy" due to several key factors:
1. Strong In-Store Foot Traffic: Observations from the SKP mall indicated noticeable in-store foot traffic during the Lunar New Year promotional activities, suggesting robust consumer interest and demand.
2. Rising Gold Prices: The recent upsurge in gold prices is believed to have further fueled strong demand for gold products, contributing to positive sales expectations.
3. Revenue Growth Expectations: The broker anticipates triple-digit revenue growth from the holiday promotion to continue through the Lunar New Year period, leading to an upward revision of revenue forecasts.
4. Increased Earnings Forecasts: The broker raised its 2026 and 2027 earnings forecasts by 5% each, reflecting higher same-store sales growth (SSSG) expectations and the potential of Lunar New Year sales.
5. Target Price Adjustment: The target price for LAOPU GOLD was set at HKD1,119, indicating confidence in the stock's future performance despite a slight downward revision in gross margin assumptions.
Overall, the combination of strong demand indicators, positive sales forecasts, and adjusted earnings expectations contributed to the analyst's decision to maintain a "Buy" rating.
Daiwa
Daiwa
Buy
maintain
$860 -> $880
2026-01-22
Reason
The analyst rating for LAOPU GOLD (06181.HK) is maintained as a "Buy" due to a combination of factors. Despite the stock price lagging behind the increase in gold prices, the company management reiterated a target of achieving a 40% gross margin this year. Although Daiwa expects a decline in gross margin in the second half of 2025, they have adjusted their earnings forecasts—lowering the 2025 EPS by 5% due to this lower gross margin assumption, but raising the 2026 EPS by 2% due to anticipated higher sales. Additionally, the target price for the stock was increased from HKD 860 to HKD 880, which supports the positive rating.
Daiwa
Buy
Price Target
$860 -> $880
2026-01-22
maintain
The analyst rating for LAOPU GOLD (06181.HK) is maintained as a "Buy" due to a combination of factors. Despite the stock price lagging behind the increase in gold prices, the company management reiterated a target of achieving a 40% gross margin this year. Although Daiwa expects a decline in gross margin in the second half of 2025, they have adjusted their earnings forecasts—lowering the 2025 EPS by 5% due to this lower gross margin assumption, but raising the 2026 EPS by 2% due to anticipated higher sales. Additionally, the target price for the stock was increased from HKD 860 to HKD 880, which supports the positive rating.
Ping An Securities
initiated
2026-01-21
Reason
The analyst rating from Ping An Securities for LAOPU GOLD (06181.HK) is based on several positive factors:
1. Continuous expansion of market momentum.
2. Ongoing investment in original product design, R&D, and technological innovation, leading to product upgrades and iterations.
3. Commitment to a market strategy focused on brand internationalization and market globalization.
4. High-speed growth in the domestic market and exploration of overseas markets.
5. Improvement in the Company's revenue and profit scale.
These factors contributed to Ping An Securities' optimism about the Company's expanding brand influence, leading them to initiate coverage with a "Recommend" rating.
Ping An Securities
Price Target
2026-01-21
initiated
The analyst rating from Ping An Securities for LAOPU GOLD (06181.HK) is based on several positive factors:
1. Continuous expansion of market momentum.
2. Ongoing investment in original product design, R&D, and technological innovation, leading to product upgrades and iterations.
3. Commitment to a market strategy focused on brand internationalization and market globalization.
4. High-speed growth in the domestic market and exploration of overseas markets.
5. Improvement in the Company's revenue and profit scale.
These factors contributed to Ping An Securities' optimism about the Company's expanding brand influence, leading them to initiate coverage with a "Recommend" rating.
Citi
initiated
$1,088
2026-01-09
Reason
The analyst rating from Goldman Sachs for LAOPU GOLD is a Buy, with a 12-month target price set at HKD1,088. The reasons for this rating include the management's observation of strong customer demand, as evidenced by long queues at stores during the festive period, despite a price hike in gold products. Additionally, the management anticipates several profit drivers leading up to 2026, such as improvements in gross margin, channel expansion, and a growing customer base. These factors contribute to a positive outlook for the company's performance.
Citi
Price Target
$1,088
2026-01-09
initiated
The analyst rating from Goldman Sachs for LAOPU GOLD is a Buy, with a 12-month target price set at HKD1,088. The reasons for this rating include the management's observation of strong customer demand, as evidenced by long queues at stores during the festive period, despite a price hike in gold products. Additionally, the management anticipates several profit drivers leading up to 2026, such as improvements in gross margin, channel expansion, and a growing customer base. These factors contribute to a positive outlook for the company's performance.
Citi
initiated
$1,119
2026-01-09
Reason
The analyst rating for LAOPU GOLD (06181.HK) is positive due to several factors. Citi has initiated a 30-day positive catalyst watch, maintaining a "Buy" rating with a target price of HKD1,119. The confidence in LAOPU GOLD's outlook is attributed to a recovery in demand and gross margins observed during the New Year holiday. Additionally, the broker believes that consumers have absorbed recent product price increases, which are supported by industry-wide price adjustments and a rebound in gold prices since December of the previous year.
Citi
Price Target
$1,119
2026-01-09
initiated
The analyst rating for LAOPU GOLD (06181.HK) is positive due to several factors. Citi has initiated a 30-day positive catalyst watch, maintaining a "Buy" rating with a target price of HKD1,119. The confidence in LAOPU GOLD's outlook is attributed to a recovery in demand and gross margins observed during the New Year holiday. Additionally, the broker believes that consumers have absorbed recent product price increases, which are supported by industry-wide price adjustments and a rebound in gold prices since December of the previous year.
Citi
Citi Research
maintain
$1,119
2025-11-28
Reason
The analyst rating for LAOPU GOLD (06181.HK) is a "Buy" based on several key factors identified in the Citi Research report. The reasons for this rating include:
1. Strong Same-Store Sales Growth: The expectation that same-store sales growth during the November promotion period will exceed 200%, similar to previous strong performances, indicates robust demand.
2. Favorable Demand Outlook: The sustained growth momentum is seen as a positive indicator for demand during the upcoming 2026 Lunar New Year period.
3. Sales Projections: Citi Research anticipates that LAOPU GOLD's sales at SKP Malls will reach RMB5 billion this year, with projected sales growth of 8-11% in 2026, primarily driven by an increase in average order value.
4. Valuation Metrics: The target price of $1,119 is based on a projected 36x price-to-earnings (PE) ratio for 2025, which corresponds to a forecasted 26.4x PE ratio for 2026, suggesting that the stock is undervalued at its current price.
These factors collectively support the positive outlook and the "Buy" rating for LAOPU GOLD.
Citi
Price Target
$1,119
2025-11-28
maintain
The analyst rating for LAOPU GOLD (06181.HK) is a "Buy" based on several key factors identified in the Citi Research report. The reasons for this rating include:
1. Strong Same-Store Sales Growth: The expectation that same-store sales growth during the November promotion period will exceed 200%, similar to previous strong performances, indicates robust demand.
2. Favorable Demand Outlook: The sustained growth momentum is seen as a positive indicator for demand during the upcoming 2026 Lunar New Year period.
3. Sales Projections: Citi Research anticipates that LAOPU GOLD's sales at SKP Malls will reach RMB5 billion this year, with projected sales growth of 8-11% in 2026, primarily driven by an increase in average order value.
4. Valuation Metrics: The target price of $1,119 is based on a projected 36x price-to-earnings (PE) ratio for 2025, which corresponds to a forecasted 26.4x PE ratio for 2026, suggesting that the stock is undervalued at its current price.
These factors collectively support the positive outlook and the "Buy" rating for LAOPU GOLD.
HSBC Global Research
Buy
initiated
$973.7
2025-11-10
Reason
HSBC Global Research initiated coverage on LAOPU GOLD with a Buy rating and a target price of HKD973.7, citing the company's potential to become China's first domestic high-end brand comparable to Western luxury brands like Tiffany and Richemont. The analyst highlighted the expected significant growth in sales, projecting an eightfold increase between 2023 and 2025, and noted that 77% of LAOPU GOLD's customers overlap with those of Western luxury brands. Additionally, the forecast includes a substantial increase in net profit by 218% YoY in 2025 and a revenue surge of 199% YoY, indicating strong financial performance and market positioning.
HSBC Global Research
Buy
Price Target
$973.7
2025-11-10
initiated
HSBC Global Research initiated coverage on LAOPU GOLD with a Buy rating and a target price of HKD973.7, citing the company's potential to become China's first domestic high-end brand comparable to Western luxury brands like Tiffany and Richemont. The analyst highlighted the expected significant growth in sales, projecting an eightfold increase between 2023 and 2025, and noted that 77% of LAOPU GOLD's customers overlap with those of Western luxury brands. Additionally, the forecast includes a substantial increase in net profit by 218% YoY in 2025 and a revenue surge of 199% YoY, indicating strong financial performance and market positioning.
Citi
adjusted
$1,119
2025-10-27
Reason
The analyst rating for LAOPU GOLD (06181.HK) is a "Buy" based on several key factors highlighted in the report. Firstly, the company significantly raised its product selling prices by an average of 25%, which exceeded the broker's expectations and the 20% rise in gold prices since August 25. This price increase is seen as a positive indicator of promising sales, especially ahead of the peak sales season in November. Additionally, the report suggests that the company's gross profit margin (GPM) is expected to stabilize in the second half of 2025 following the price hike, with a forecasted recovery in GPM for 2026 based on current gold prices. Consequently, the broker adjusted its earnings forecast for 2026 and 2027, leading to a target price of HKD1,119 for the stock.
Citi
Price Target
$1,119
2025-10-27
adjusted
The analyst rating for LAOPU GOLD (06181.HK) is a "Buy" based on several key factors highlighted in the report. Firstly, the company significantly raised its product selling prices by an average of 25%, which exceeded the broker's expectations and the 20% rise in gold prices since August 25. This price increase is seen as a positive indicator of promising sales, especially ahead of the peak sales season in November. Additionally, the report suggests that the company's gross profit margin (GPM) is expected to stabilize in the second half of 2025 following the price hike, with a forecasted recovery in GPM for 2026 based on current gold prices. Consequently, the broker adjusted its earnings forecast for 2026 and 2027, leading to a target price of HKD1,119 for the stock.
Citi
maintain
$1,119
2025-10-27
Reason
The analyst rating for LAOPU GOLD (06181.HK) is a "Buy" based on several key factors highlighted in the report. The company has successfully raised product selling prices by an average of 25%, which exceeded the broker's projections and the increase in gold prices since late August. This price hike is seen as a strategic move ahead of the peak sales season in November, indicating strong sales performance. Additionally, the company's gross profit margin (GPM) is expected to stabilize in the second half of 2025 and recover in 2026, further supporting the positive outlook. The broker has adjusted its earnings forecasts for 2026 and 2027, reflecting a slight increase, and has set a target price of HKD1,119 for the stock.
Citi
Price Target
$1,119
2025-10-27
maintain
The analyst rating for LAOPU GOLD (06181.HK) is a "Buy" based on several key factors highlighted in the report. The company has successfully raised product selling prices by an average of 25%, which exceeded the broker's projections and the increase in gold prices since late August. This price hike is seen as a strategic move ahead of the peak sales season in November, indicating strong sales performance. Additionally, the company's gross profit margin (GPM) is expected to stabilize in the second half of 2025 and recover in 2026, further supporting the positive outlook. The broker has adjusted its earnings forecasts for 2026 and 2027, reflecting a slight increase, and has set a target price of HKD1,119 for the stock.
Valuation Metrics
Forward PE
5Y Average PE
19.66
Current PE
16.75
Overvalued PE
28.43
Undervalued PE
10.89
Forward EV/EBITDA
5Y Average EV/EBITDA
13.54
Current EV/EBITDA
12.72
Overvalued EV/EBITDA
19.44
Undervalued EV/EBITDA
7.64
Forward PS
5Y Average PS
3.50
Current PS
3.21
Overvalued PS
5.11
Undervalued PS
1.90
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