Group 1 - The stock of Lao Pu Gold (06181) increased by over 3%, currently up 3.7% at HKD 687.5, with a trading volume of HKD 295 million [1] - UBS research report indicates that despite management's expectation of a decline in gross margin in the second half of last year compared to the first half, the gross margin has rebounded to 40% after a price increase at the end of October [1] - Management is optimistic about achieving an annual improvement in gross margin, maintaining a target of 40% for the full year, assuming a moderate increase in gold prices [1] Group 2 - Management emphasized the importance of channel upgrades in the domestic market, including expanding existing store sizes and relocating to better positions within the same shopping malls, with 5 to 6 malls currently undergoing upgrades [1] - The company aims to open 4 to 5 new stores outside mainland China this year, including a second store at Marina Bay Sands in Singapore and a new store in Tokyo [1] - Gross margins in Hong Kong and Macau are slightly higher than in mainland China due to lower tax rates [1] Group 3 - UBS anticipates that despite high comparatives around the Chinese New Year, better-than-expected same-store sales growth could serve as a potential positive catalyst [2]
老铺黄金涨超3% 对26年保持40%毛利率更具信心 同店销售增长或成为潜在正面催化剂