On June 27th, Futu News reported that.$LAOPU GOLD (06181.HK)$Today's pre-market opened high, with an increase of 45.68%, at HKD59, with a turnover exceeding HKD24.59 million and a total market value exceeding HKD9.5 billion.
![Market source: Futu Securities.](https://postimg.futunn.com/news-editor-imgs/20240627/public/17194762566109314943246.png)
Company overview
Laopu Gold is a brand that has been certified by the China Gold Association and is the first in China to promote the concept of "ancient gold". It inherits Chinese classic culture and non-legacy craftsmanship, and has both the cultural value of Chinese non-legacy and significant product differences. According to Forrest Sullivan's data, based on the income in 2023, the company's share in the Chinese ancient gold jewelry market and the gold jewelry market is 2.0% and 0.6% respectively. The company operates all offline stores through self-operated mode and themed scenario store mode. As of the last feasible date, the company has opened 33 self-operated stores in 14 well-known commercial centers in China (most of which are first-tier and new first-tier cities).
According to Forrest Sullivan's data, the company is the only brand among the major gold jewelry brands in the Chinese market that focuses on designing, manufacturing, and selling ancient gold products. In 2022 and 2023, the company's single-store sales have ranked first in all gold jewelry brands in China for two consecutive years. In 2023, the company's performance further increased significantly, and its store average income in 2023 reached RMB 93.9 million among stores existing as of December 31, 2023.
As of the last feasible date, the company has created more than 1800 original designs, with more than 1000 copyrights, including trinkets for daily wear, stationery and accessories, daily-use gold wares and household decoration gold wares, covering consumer groups of different ages and consumption needs. The company has been continuously improving its design and research and development capabilities. The product design and research and development process includes the following steps:
![Source: prospectus](https://postimg.futunn.com/news-editor-imgs/20240627/public/17194585625147978608620.jpeg)
Financial overview
In terms of financial status, Laopu Gold's revenue in 2021, 2022, and 2023 was RMB 1.2646 billion, RMB 1.2942 billion, and RMB 3.1796 billion respectively, with a compound annual growth rate of 58.56%; During the same period, the gross profit was RMB 0.521 billion, RMB 0.542 billion, and RMB 1.332 billion, with a compound annual growth rate of 59.89%.
![Source: prospectus](https://postimg.futunn.com/news-editor-imgs/20240627/public/17194585624595664087391.jpeg)
Editor/Lindsay