高盛:予老铺黄金(06181)976港元目标价 评级“买入”

智通财经
11 Apr

智通财经APP获悉,高盛发布研报称,目前市场情绪依然强劲,推荐买入老铺黄金(06181),12个月目标价为976港元。4月9日,该行与老铺黄金的管理团队进行了面对面会议。主要要点如下:

1)最新动态——尽管近期金价波动(4月2日-8日,纽约商品交易所黄金价格回调6%),但消费者情绪依然强劲;计划新开的店铺包括4月底-5月初的上海恒隆广场店、6月中旬的新加坡店和香港国际金融中心店,均在2025年内开业。

2)长期指引支撑——每家店铺的目标GMV为10亿元以上,计划在中国大陆和港澳地区约50个购物中心开设50-60家店铺。目前国际奢侈品消费者的渗透率仍较低,约为30%;店铺选址持续优化,店铺规模扩大;除饰品外,黄金工艺品的业务拓展也在加速,部分表现优异的店铺尽管位置不够优越且面积较小,但已超过目标业绩。

3)组织架构优化是今年的首要任务之一,随着业务规模快速增长,公司设立了专门的贵宾客户管理部门。

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