---
title: "The report \"Big Banks\" by Huayan Research initiates coverage on LAOPU GOLD with a rating of \"Buy\" and a target price of 973.7 yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/265067960.md"
description: "HSBC Global Research initiates coverage on LAOPU GOLD with a \"Buy\" rating and a target price of 973.7 yuan. It is expected that sales will grow eightfold from 2023 to 2025, with net profit projected to increase by 218% annually in 2025. LAOPU GOLD has become a Chinese high-end brand capable of competing with Western luxury brands, with its stock price rising nearly 800% since its IPO in June 2024. The average annual compound growth rate of net profit is expected to be 29.5% from 2025 to 2027"
datetime: "2025-11-10T04:25:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265067960.md)
  - [en](https://longbridge.com/en/news/265067960.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265067960.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/265067960.md) | [繁體中文](https://longbridge.com/zh-HK/news/265067960.md)


# The report "Big Banks" by Huayan Research initiates coverage on LAOPU GOLD with a rating of "Buy" and a target price of 973.7 yuan

HSBC Global Research released a report, initiating coverage on LAOPU GOLD (06181.HK) with a "Buy" rating, predicting a price-to-earnings ratio of 26.2 times for next year and a target price of HKD 973.7, aligning with luxury goods stocks in Western countries. The bank stated that LAOPU has the potential to become China's first domestic high-end brand that can benchmark against Western brands like Tiffany and Richemont; the company's sales are expected to grow by 8 times from 2023 to 2025, with 77% of its customers overlapping with Western luxury brands.

HSBC Research noted that LAOPU GOLD's stock price has risen nearly 800% since its initial public offering in June 2024. The company has emerged as a local luxury brand in China that can compete with Western high-end jewelry brands, forecasting that LAOPU's net profit will grow by 218% year-on-year in 2025, with revenue increasing by 199% year-on-year.

As growth normalizes, HSBC Research predicts a compound annual growth rate of 29.5% for LAOPU's net profit from 2025 to 2027, and a compound annual growth rate of 23.1% for revenue

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