The Zhitong Finance App learned that Old Shop Gold (06181) has now risen by more than 5%. As of press release, it has risen 5.26% to HK$79, with a turnover of HK$23.158,400.
According to reports, Laosou Gold is the first brand in China to promote the concept of “ancient gold”, certified by the China Gold Association. According to Frost & Sullivan's data, based on 2023 revenue, the company's shares in the ancient Chinese gold and jewellery market were 2.0% and 0.6% respectively. As of the last practical date, the company has opened 33 self-operated stores in well-known commercial centers in 14 cities in China.
China Merchants Securities said that Laopu Gold's performance grew rapidly last year, with revenue up 146% and net profit up 340%. In the context of the ancient gold market and the high-end jewelry market space, the company has opportunities to grow. The bank pointed out that the company's current same-store sales growth rate is relatively fast, there is plenty of room for medium- to long-term store expansion, and at the same time, high-end positioning and full direct management channels bring high profitability.