Ge Long Hui·2025-07-29 19:35Core Viewpoint - Huatai Securities published a research report indicating that Laopu Gold has released a positive profit forecast, expecting revenue of approximately 12 billion to 12.5 billion yuan in the first half of 2025, representing a year-on-year increase of about 241% to 255% [1] Group 1: Financial Performance - Laopu Gold's net profit is projected to be around 2.23 billion to 2.28 billion yuan, with a year-on-year growth of approximately 279% to 288% [1] - The strong growth in the first half of the year is primarily attributed to contributions from both online and offline existing stores [1] Group 2: Expansion and Growth Drivers - New large stores, including those at Shanghai Hongqiao Henglong and Singapore's first store, as well as Shanghai IFC, opened in May and June, are expected to significantly contribute to incremental performance in the second half of the year [1] - The company maintains a competitive advantage and high growth momentum, leading to a sustained "buy" rating with a target price of 1,200 HKD, corresponding to a price-to-earnings ratio of 38.5 times for 2025 [1]