JP Morgan says Laopu Gold (06181.HK) Q2 sales slowdown looks
文 / 小金
2026-09-09 14:50:03
来源:亚金网
JP Morgan says Laopu Gold (06181.HK) Q2 sales slowdown looks cyclical not structural. Gross margin exceeded expectations and management has clearer plans to manage gold-price volatility. VIC initiatives and overseas expansion should raise medium-term growth visibility, while liquidity and dividends provide downside protection. JP Morgan still expects a gradual earnings recovery, forecasting Q3 and Q4 profit of about RMB800m and RMB1.2bn. Near-term sales remain dependent on gold prices; Mid-Autumn and National Day holidays are the next monitoring points. JP Morgan maintains an Overweight rating and HK$891 target price.
