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Laopu Gold Co Ltd (6181) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$63.7B (≈ $8.1B) · ISIN CNE100006JG0

What is Laopu Gold Co Ltd really worth?

LG Laopu Gold Co Ltd 6181 · HK
PriceHK$398.40
Fair ValueHK$556.61
Upside+39.7%
Quality46/100

Below-average quality, trading 28% below our fair value of HK$556.61.

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Strengths

Solidly profitable · 17.8% net margin
Ranks above peers (10/14)
Wide moat 88/100

Risks

!Expensive Growth (revenue 5y +99.3 %/yr)
!Low debt · negative free cash flow
!Evidence only medium, so the estimate is less certain

For context

·5.41% dividend yield
Evidence: Medium Range HK$417.45 – HK$713.71

Fair value as of: Sep 3, 2026

From 9 valuation models · updated yesterday

Share price +17.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (HK$417.45). The market is more pessimistic than our downside scenario.
  • Solid quality (46/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (2 years)

HK$1,040 HK$66.72 Fair Value HK$556.61 Jun 2024 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

26‑month range HK$66.72 – HK$1,040 · fair‑value band HK$417.45 – HK$713.71 · the HK$398.40 price screens below the HK$556.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

Laopu Gold Co Ltd (6181) currently trades at HK$398.40, while our model-based Fair Value estimate is HK$556.61, implying the stock looks roughly 28.4% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Multiples group reads highest at a median of HK$588.42 per share, and 5 of the 9 models we run sit above the HK$398.40 price. Bear case: the Dividend Discount group reads lowest at HK$122.97, and 4 of the 9 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Laopu Gold Co Ltd 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 Sep 3, 2026

Our scenario range runs from HK$417.45 (bear case) to HK$713.71 (bull case); at HK$398.40, the current price sits below 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 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at 40%, 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, family-balanced 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. Every input is real reported data, nothing guessed.

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
EV/EBITDA HK$607.48 HK$805.75 HK$1,004 67
EV/EBIT HK$743.43 HK$987.02 HK$1,231 66
Gordon GGM HK$70.14 HK$145.83 HK$231.35 64
All 9 models by family
Dividend Discount
Gordon GGM HK$70.14 HK$145.83 HK$231.35 64
DDM Multi-Stage HK$70.14 HK$122.97 HK$153.06 64
Multiples
P/S Multiple HK$421.20 HK$561.60 HK$702.00 58
P/B Multiple HK$115.99 HK$154.66 HK$193.32 55
EV/EBIT HK$743.43 HK$987.02 HK$1,231 66
EV/EBITDA HK$607.48 HK$805.75 HK$1,004 67
EV/Revenue HK$415.69 HK$588.42 HK$761.15 54
Asset-Based
NCAV (Graham) HK$38.66 HK$51.81 HK$77.33 54
Economic Profit
Residual Income HK$290.23 HK$459.88 HK$7,748 61

Widest divergence: Multiples (HK$588.42) versus Asset-Based (HK$51.81). Highest evidence: EV/EBITDA (67).

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Key figures & financial health

P/E ratio 11.0 as of Jul 2, 2026
P/S ratio 1.97 P/E × margin
EPS (TTM) HK$13.34 price ÷ EPS = P/E 11.0
Dividend yield 5.4% payout 161%
Net margin 17.8% FY2025
Return on equity 64.8% TTM
More key figures
Profitability
Return on assets (EBIT) 21.7% avg 5y
Operating margin 23.5% TTM
Growth
Revenue (TTM) HK$27.3B TTM
Revenue growth (YoY) +200% 3y avg +174%
EPS growth (YoY) +184%
Balance sheet & cash flow
Free cash flow −HK$7.0B FY2025
Net debt HK$4.7B FY2025

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 43 · Market factors (momentum, volatility) 19

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 8
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

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 Ltd reported revenue of 26.6B CNY in FY2025 versus 1.3B CNY in FY2021, a compound +114.1%/yr. Reported net income was 4.7B CNY in FY2025, compounding +154.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

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. revenue 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. revenue 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%
Value creation/yr We only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Revenue +114.1%/yr
FY21 1.3B CNY
FY22 1.3B CNY
FY23 3.2B CNY
FY24 8.5B CNY
FY25 26.6B CNY
Net income +154.0%/yr
FY21 114M CNY
FY22 94.5M CNY
FY23 416M CNY
FY24 1.5B CNY
FY25 4.7B CNY

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

Peer Group

Luxury Goods · 135 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 +40% · Top 25%
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) 5.4% · 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× · Pricier than median
PEG 0.27× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE86 · sector 10
FUTURE100 · sector 48
PAST100 · sector 40
HEALTH100 · sector 99
DIVIDEND100 · sector 41

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

Similar stocks

10 more Luxury Goods stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

Stock Price Fair Value vs Fair Value
Hermès International Société en commandite par actions RMS €1,598 €950.24 −41%
Compagnie Financière Richemont SA CFR CHF 192.15 CHF 119.49 −38%
Christian Dior SE DIO €423.60 €1,095 +159%
Titan Company TITAN ₹5,106 ₹972.23 −81%
Tapestry, Inc TPR $153.74 $19.95 −87%
Chow Tai Fook Jewellery Group 1929 HK$12.31 HK$11.51 −6%
The Swatch Group UHRN CHF 36.35 CHF 8.46 −77%
Prada S.p.A 1913 HK$40.86 HK$64.71 +58%
Pandora A/S PNDORA kr 783.00 kr 1,424 +82%
Brunello Cucinelli S.p.A BC €89.08 €34.90 −61%

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Frequently asked questions

Is Laopu Gold Co Ltd (6181) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of HK$556.61 versus a price of HK$398.40, about +40% upside (undervalued).
What is the fair value of 6181?
Our model-based fair value for Laopu Gold Co Ltd is HK$556.61 (as of Sep 3, 2026), built from audited fundamentals. The current price: HK$398.40.
What is the quality score of 6181?
Laopu Gold Co Ltd 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 Ltd (6181)?
Laopu Gold Co Ltd reported trailing-twelve-month revenue of about HK$27.3B (latest available figure, as of Sep 3, 2026).
What is the net profit margin of 6181?
The net profit margin of Laopu Gold Co Ltd 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 Ltd pay a dividend?
Laopu Gold Co Ltd currently shows a dividend yield of about 5.41% relative to its recent price (as of Sep 3, 2026).
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