Citi: Lao Pu Gold Management Optimistic About Sales Prospects, Maintain Buy Rating

Citi issued a research report stating that the management of Lao Pu Gold (06181) is highly confident in both short-term and long-term sales prospects, despite recent gold price corrections. They observed encouraging customer behavior, indicating positive short-term sales outlook. Long-term, they foresee ample expansion potential for the customer base from entry-level to ultra-high net worth individuals, suggesting further sales growth. Citi maintains its 'buy' rating on Lao Pu and lists it as the top choice in China's jewelry industry with a target price of 1,162 Hong Kong dollars.