Citi 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.
Trade with 70% Backtested Accuracy
Analyst Views on 06181
About the author
JPM Selects LAOPU GOLD as Leading Industry Choice with Overweight Rating; Remains Positive on This Year's Performance
JPMorgan's Optimism: JPMorgan has a more optimistic outlook on LAOPU GOLD (06181.HK) compared to the market, citing factors such as improved brand equity, new product launches, and favorable gold price trends.
Stable Performance: The report emphasizes LAOPU GOLD's stable performance, which addresses investor concerns regarding high base effects and consumer behavior amidst gold price fluctuations.
Target Price and Rating: JPMorgan has set a target price of HKD1,296 for LAOPU GOLD and assigned it an Overweight rating, indicating strong potential for growth.
Short-term Catalysts: Key short-term catalysts for LAOPU GOLD include retail sales during the Chinese New Year, upcoming product price increases, and plans for overseas expansion.
Citi Selects LAOPU GOLD as Leading Choice in China's Jewelry Market, Anticipates Continued Triple-Digit Growth
Market Outlook for LAOPU GOLD: A survey indicates that LAOPU GOLD is expected to maintain its triple-digit growth despite a recent pullback in gold prices, with limited impact on sales according to Citi's research report.
Competitive Landscape: The high-end gold jewelry market is expanding rapidly, which restricts the ability of new entrants to compete with LAOPU GOLD.
Analyst Recommendations: Citi has identified LAOPU GOLD as a top pick in China's jewelry sector, assigning a target price of HKD1,119 and a Buy rating.
Short Selling Data: As of February 3, 2026, LAOPU GOLD has a short selling amount of $77.18 million, with a ratio of 11.790%.
<Research>BOCI Names LUK FOOK HOLD as Leading Industry Choice with Target Price Increased to HKD35.9
Gold Jewelry Consumption Outlook: BOCI predicts that gold jewelry consumption will remain strong in the first quarter of 2026, despite recent fluctuations in gold prices.
Winners in the Market: High-end retailers like LAOPU GOLD are expected to thrive due to their ability to support high premiums, alongside retailers with a strong presence in Hong Kong and Macau.
Top Industry Pick: BOCI has identified LUK FOOK HOLD as its top pick in the industry and has raised its target price to HKD 35.9.
Market Sentiment on Gold Prices: G Sachs views the current gold price as uncertain, projecting a year-end price of USD 5,400, while also noting potential volatility in silver prices.
Citi Research: High-Net-Worth Consumers Prefer LAOPU GOLD for Gold Collection; VIC Business Opportunities Are Vast
Positive Growth for LAOPU GOLD: The Hurun Chinese Luxury Consumer Survey indicates that LAOPU GOLD has risen from 8th to 3rd place among favorite jewelry brands for high-net-worth individuals in China, despite a contraction in the luxury market.
Citi's Favorable Outlook: Citi research highlights LAOPU GOLD as a top pick in the Chinese jewelry industry, citing the growing preference for gold collectibles among high-net-worth consumers and a target price of HKD1,119 with a Buy rating.
G 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.
CMSI 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.
JPM Selects LAOPU GOLD as Leading Industry Choice with Overweight Rating; Remains Positive on This Year's Performance
JPMorgan's Optimism: JPMorgan has a more optimistic outlook on LAOPU GOLD (06181.HK) compared to the market, citing factors such as improved brand equity, new product launches, and favorable gold price trends.
Stable Performance: The report emphasizes LAOPU GOLD's stable performance, which addresses investor concerns regarding high base effects and consumer behavior amidst gold price fluctuations.
Target Price and Rating: JPMorgan has set a target price of HKD1,296 for LAOPU GOLD and assigned it an Overweight rating, indicating strong potential for growth.
Short-term Catalysts: Key short-term catalysts for LAOPU GOLD include retail sales during the Chinese New Year, upcoming product price increases, and plans for overseas expansion.
Citi Selects LAOPU GOLD as Leading Choice in China's Jewelry Market, Anticipates Continued Triple-Digit Growth
Market Outlook for LAOPU GOLD: A survey indicates that LAOPU GOLD is expected to maintain its triple-digit growth despite a recent pullback in gold prices, with limited impact on sales according to Citi's research report.
Competitive Landscape: The high-end gold jewelry market is expanding rapidly, which restricts the ability of new entrants to compete with LAOPU GOLD.
Analyst Recommendations: Citi has identified LAOPU GOLD as a top pick in China's jewelry sector, assigning a target price of HKD1,119 and a Buy rating.
Short Selling Data: As of February 3, 2026, LAOPU GOLD has a short selling amount of $77.18 million, with a ratio of 11.790%.
<Research>BOCI Names LUK FOOK HOLD as Leading Industry Choice with Target Price Increased to HKD35.9
Gold Jewelry Consumption Outlook: BOCI predicts that gold jewelry consumption will remain strong in the first quarter of 2026, despite recent fluctuations in gold prices.
Winners in the Market: High-end retailers like LAOPU GOLD are expected to thrive due to their ability to support high premiums, alongside retailers with a strong presence in Hong Kong and Macau.
Top Industry Pick: BOCI has identified LUK FOOK HOLD as its top pick in the industry and has raised its target price to HKD 35.9.
Market Sentiment on Gold Prices: G Sachs views the current gold price as uncertain, projecting a year-end price of USD 5,400, while also noting potential volatility in silver prices.
Citi Research: High-Net-Worth Consumers Prefer LAOPU GOLD for Gold Collection; VIC Business Opportunities Are Vast
Positive Growth for LAOPU GOLD: The Hurun Chinese Luxury Consumer Survey indicates that LAOPU GOLD has risen from 8th to 3rd place among favorite jewelry brands for high-net-worth individuals in China, despite a contraction in the luxury market.
Citi's Favorable Outlook: Citi research highlights LAOPU GOLD as a top pick in the Chinese jewelry industry, citing the growing preference for gold collectibles among high-net-worth consumers and a target price of HKD1,119 with a Buy rating.
G 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.
CMSI 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.
