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Citibank: The management of Old Shop Gold is confident in sales prospects and reiterates a "Buy" rating
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Citibank releases research report stating that the management of Lao Pu Gold (06181) shows strong confidence in both short-term and long-term sales prospects. Despite recent gold price corrections, customer behavior is encouraging, and short-term sales outlook remains positive. In the long run, there is ample room for expansion across customer groups from entry-level to ultra-high-net-worth clients, indicating further sales growth potential. Citibank reiterates Lao Pu’s “Buy” rating and considers it the top pick in China’s jewelry industry, with a target price of HKD 1,162.
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