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Laopu Gold And 2 Other Stocks Possibly Trading At A Discount
Orient Securities Starts Laopu Gold at Add With HK$217.14 Price Target
Lao Pu gold (06181.HK): a domestically scarce high-end high-growth gold jewelry brand.
The brand that is the first to promote the "ancient method gold" concept domestically has established a successful foundation with its differentiated high-end positioning.
Lao Pu Gold (06181.HK): Leading the way independently, carrying on ancient traditions and setting sail for distant voyages.
Investment Highlights in Gold Jewelry: The traditional gold market is expanding, giving rise to opportunities for high-end jewelry brands under the trend of rational value-preserving consumer behavior. The CAGR of the traditional gold market is expected to reach 22% from 2023 to 2028, with a penetration rate in the pure gold market reaching 53% by 2028.
CICC International: First gives a 'buy' rating on the old gold store, with a target price of 235 Hong Kong dollars.
Guozheng International released a research report stating that it is initiating coverage of Laopu Gold (06181), with a target price of 235 Hong Kong dollars and a 'buy' rating. The firm believes that Laopu Gold has created a unique competitive advantage and has good development potential in the domestic high-end gold jewelry sector, which is currently small in scale but shows promise for future development. The firm expects net income for 2024/2025/2026 to be 1.12/1.45/1.78 billion yuan, corresponding to EPS earnings of 7.1/9.3/11.3 Hong Kong dollars. For the full year of 2023 and the first half of 2024, the company's revenue was 3.28 billion yuan and 3.52 billion yuan respectively, with net income respectively.
【Brokerage Focus】Guozheng International initially gave Laopu Gold (06181) a "buy" rating, indicating that there is significant potential for market expansion and price increases.
Jinwu Financial News | Guozheng International's research report indicates that Laopu Gold (06181) will achieve annual revenues of 3.28 billion yuan and 3.52 billion yuan for the full year of 2023 and the first half of 2024, with year-on-year growths of 145% and 148% respectively. The net income will be 0.416 billion yuan and 587 million yuan, with year-on-year growths of 342% and 198% respectively, showing very strong growth momentum. The bank believes Laopu Gold has the potential to become a luxury goods brand. If it can establish itself as a luxury brand, there is significant potential in terms of market space and price increase possibilities. The bank noted that gold prices have risen since the beginning of this year.
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