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老铺黄金- 海外市场潜力;新消费贡献强劲;新品即将推出;重申 “超配” 评级
2025-08-26 13:23
Asia Pacific Equity Research 22 August 2025 Laopu Gold - H Overseas potential; strong new consumer contribution; upcoming product launches; reiterate OW After Laopu's briefing (see our first take), we reaffirm our constructive view on the company (see Deciphering Laopu's growth visibility). What we liked most from the briefing: 1) overseas expansion plan, with new store pipelines in HK, Macau, Singapore, and Japan, and preliminary preparation for the US, Canada and Australia. This might drive upside to our ...