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Citi published a research report indicating that LAOPU GOLD's overseas expansion plan seems to be accelerating, with plans to explore more new markets by 2026. Management did not deny the funding needs required for growth or raise investor concerns about potential financing. Citi expects that new store investments (mainly for inventory) will break even within two years, and free cash flow will turn positive by 2026. With the opening of new stores and expected operating leverage, same-store sales growth is anticipated to be strong. The bank raised its net profit estimates for LAOPU GOLD for the fiscal years 2025 to 2027 by 3%, 2%, and 1% respectively, and raised the target price from HKD 1,084 to HKD 1,119, maintaining a "Buy" rating
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