---
title: "《大行》花旗：老铺黄金新一轮产品平均加价 25% 超预期  料下半年毛利率回稳"
description: "花旗报告指出，老铺黄金上调产品售价，平均加价幅度达 25%，超出预期。预计下半年毛利率将回稳，并预测明年毛利率复苏。基于最新毛利率预测及黄金成本上涨，花旗调整了对公司明年及后年盈利预测，幅度为 0.5%。给予老铺黄金「买入」评级，目标价 1,119 元。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/262840747.md"
published_at: "2025-10-27T08:01:25.000Z"
---

# 《大行》花旗：老铺黄金新一轮产品平均加价 25% 超预期  料下半年毛利率回稳

> 花旗报告指出，老铺黄金上调产品售价，平均加价幅度达 25%，超出预期。预计下半年毛利率将回稳，并预测明年毛利率复苏。基于最新毛利率预测及黄金成本上涨，花旗调整了对公司明年及后年盈利预测，幅度为 0.5%。给予老铺黄金「买入」评级，目标价 1,119 元。

花旗报告指，老铺黄金 (06181.HK) 昨日 (26 日) 上调产品售价，据该行行业渠道调查颢示，平均加价幅度达 25%，高於该行预期，并高於 8 月 25 日加价以来金价的两成升幅。

该行认为，老铺黄金在 11 月销售旺季前显着加价，反映公司已实现理想销售，亦预期下半年公司毛利率在产品加价后回稳，并基於目前金价，预期明年毛利率复苏。

该行按最新毛利率预测及黄金成本上涨，调整对公司明年及后年盈利预测，幅度为 0.5%。该行予老铺黄金「买入」评级，目标价 1,119 元。

### Related Stocks

- [06181.HK - 老铺黄金](https://longbridge.com/zh-CN/quote/06181.HK.md)

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