G Sachs: LAOPU GOLD Brand Momentum Continues; Reiterate Buy Rating
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G Sachs has reiterated a Buy rating for LAOPU GOLD, noting a 4% increase in share price despite an 18% pullback since March. The report highlights attractive risk-reward dynamics, supported by brand momentum and customer acquisition. Performance during Labor Day met expectations, with gross margins exceeding 45%. Management plans to upgrade 8-12 stores in mainland China and open 5-6 new stores abroad. G Sachs anticipates a recovery in consumer sentiment if gold prices stabilize, setting a 12-month target price of HKD1,108.
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