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Laopu Gold Co (6181) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$63.7B

LG Laopu Gold Co 6181 · HK
PriceHK$395.60
Fair ValueHK$462.01
Upside+16.8%
Quality46/100
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Expensive Growth
Solidly profitable · 17.8% net margin
Low debt · negative free cash flow
6.22% dividend yield
Ranks above peers (11/14)
Wide moat 88/100
Evidence: High Range HK$346.50 – HK$592.33 Share as image

Fair value as of: Aug 6, 2026

From 9 valuation models · updated 4 days ago

Share price +1.1% over the past month.

Below-average quality, screening 17% undervalued on our models.

What matters now

  • Our model range runs from HK$346.50 (bear) to HK$592.33 (bull), base HK$462.01. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 46/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (2 years)

HK$1,040 HK$66.72 Fair Value HK$462.01 Jun 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

25‑month range HK$66.72 – HK$1,040 · fair‑value band HK$346.50 – HK$592.33 · the HK$395.60 price screens below the HK$462.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

Laopu Gold Co (6181) currently trades at HK$395.60, while our model-based Fair Value estimate is HK$462.01, implying the stock looks roughly 16.8% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Laopu Gold Co generated revenue of HK$27.3B at a net margin of 17.8%. Revenue grew 199.9% year over year. It earns a return on equity of 64.8%. Net debt stands at HK$4.7B. Fundamentals as of Aug 6, 2026

Our scenario range runs from HK$346.50 (bear case) to HK$592.33 (bull case); at HK$395.60, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 63% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -41% fair-value upside, at 17%, 6181 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income HK$241.76 HK$383.07 HK$6,454 76
Gordon GGM HK$58.42 HK$121.48 HK$192.71 70
DDM Multi-Stage HK$58.42 HK$102.43 HK$127.49 61
All 9 models by family
Dividend Discount
Gordon GGM HK$58.42 HK$121.48 HK$192.71 70
DDM Multi-Stage HK$58.42 HK$102.43 HK$127.49 61
Multiples
P/S Multiple HK$350.85 HK$467.80 HK$584.75 58
P/B Multiple HK$96.62 HK$128.83 HK$161.03 55
EV/EBIT HK$619.26 HK$822.17 HK$1,025 53
EV/EBITDA HK$506.02 HK$671.17 HK$836.33 54
EV/Revenue HK$346.26 HK$490.14 HK$634.02 43
Asset-Based
NCAV (Graham) HK$32.21 HK$43.16 HK$64.41 50
Economic Profit
Residual Income HK$241.76 HK$383.07 HK$6,454 76

Widest divergence: Multiples (HK$490.14) versus Asset-Based (HK$43.16). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$27.3B
Revenue growth (YoY) +200%
Net margin 17.8%
Return on equity 64.8%
Free cash flow −HK$7.0B FY2025
P/E ratio 11.0
More key figures
Operating margin 23.5%
EPS (TTM) HK$13.34
Dividend yield 6.2%
EPS growth (YoY) +184%
Net debt HK$4.7B FY2025

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 43 · Market factors (momentum, volatility) 17

Profitability 91
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Laopu Gold Co., Ltd. designs, manufactures, and sells jewelry products in Mainland China, Hong Kong, and Macau. It offers handmade goldware, including pendants, bracelets, rings, earrings, jewelry for babies, and gem-set jewelry, as well as gold antiques and collectibles. The company also provides maintenance and repair services for jewelry products.

Full company description

Laopu Gold Co., Ltd. designs, manufactures, and sells jewelry products in Mainland China, Hong Kong, and Macau. It offers handmade goldware, including pendants, bracelets, rings, earrings, jewelry for babies, and gem-set jewelry, as well as gold antiques and collectibles. The company also provides maintenance and repair services for jewelry products. It sells its products through stores and online. The company was founded in 2009 and is headquartered in Beijing, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Laopu Gold Co reported revenue of HK$26.6B in FY2025 versus HK$1.3B in FY2021, a compound +114.1%/yr. Reported net income was HK$4.7B in FY2025, compounding +154.0%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$26.6B
Latest YoY
+212.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+173.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+99.3%
Revenue +114.1%/yr
FY21 HK$1.3B
FY22 HK$1.3B
FY23 HK$3.2B
FY24 HK$8.5B
FY25 HK$26.6B
Net income +154.0%/yr
FY21 HK$114M
FY22 HK$94.5M
FY23 HK$416M
FY24 HK$1.5B
FY25 HK$4.7B

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Cite: Fair Value Calculator (2026). "Laopu Gold Co Fair Value". https://www.fairvalue-calculator.com/stock/6181

Peer Group

Luxury Goods · 130 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 45 · Below median
Fair Value upside +17% · Above median
Return on equity (TTM) 65% · Top 25%
Return on assets 30% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 23% · Top 25%
Revenue growth 200% · Top 25%
Dividend yield (TTM) 6.2% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Luxury Goods median · lower = cheaper

P/E (TTM) 11.0× · Cheaper than median
P/B 5.74× · Pricier than 75% of peers
P/S (TTM) 2.33× · Pricier than 75% of peers
EV/EBITDA 9.3× · Cheaper than median
PEG 0.27× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 56 · sector 15
FUTURE 100 · sector 50
PAST 100 · sector 38
HEALTH 100 · sector 99
DIVIDEND 100 · sector 39

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
Compagnie Financière Richemont SA CFR CHF 197.40 CHF 117.30 -41%
Christian Dior SE DIO €455.40 €502.30 +10%
Kering SA KER €248.50 €60.61 -76%
Tapestry, Inc TPR $140.73 $19.95 -86%
Chow Tai Fook Jewellery Group 1929 HK$11.82 HK$12.28 +4%
The Swatch Group UHRN CHF 40.95 CHF 21.48 -48%
Prada S.p.A 1913 HK$43.26 HK$64.05 +48%
Pandora A/S PNDORA kr 779.40 kr 1,424 +83%
Brunello Cucinelli S.p.A BC €80.32 €42.69 -47%
Kalyan Jewellers India Limited KALYANKJIL ₹546.60 ₹238.57 -56%

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Frequently asked questions

Is Laopu Gold Co (6181) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of HK$462.01 versus a price of HK$395.60, about +17% (undervalued).
What is the fair value of 6181?
Our model-based fair value for Laopu Gold Co is HK$462.01 (as of Aug 6, 2026), built from audited fundamentals. The current price is HK$395.60.
What is the quality score of 6181?
Laopu Gold Co has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Laopu Gold Co (6181)?
Laopu Gold Co reported trailing-twelve-month revenue of about HK$27.3B (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 6181?
The net profit margin of Laopu Gold Co is about 17.8%, meaning it keeps roughly 17.8% of revenue as net income. Based on the latest reported figures.
Does Laopu Gold Co pay a dividend?
Laopu Gold Co currently shows a dividend yield of about 6.22% relative to its recent price (as of Aug 6, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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