Core Viewpoint - Haitong International has issued a report giving Laopu Gold a target price of HKD 957.2, maintaining an "outperform" rating, highlighting that new store openings and optimization of store structure will drive short-term revenue growth [1] Group 1: Financial Projections - Haitong International forecasts Laopu Gold's net profit attributable to shareholders to grow by 238.4% in 2025, 34.4% in 2026, and 17.2% in 2027, with earnings per share projected at RMB 29.6, 39.8, and 46.7 respectively [1] - Based on a 22 times price-to-earnings ratio for 2026, the target price for Laopu Gold is set at RMB 875.6 (approximately HKD 957.2), indicating a potential upside of 31.6% [1] Group 2: Strategic Initiatives - The company is focusing on enhancing its high-end brand positioning and expanding its domestic and international customer base, which is expected to strengthen overall consumer power and repurchase rates [1] - Channel expansion and breakthroughs in overseas markets are anticipated to further increase membership and solidify Laopu Gold's high-end brand status, supporting long-term growth potential [1]
研报掘金丨海通国际：给予老铺黄金目标价957.2港元