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Chinese heritage-craft gold jewelry brand positioned as a domestic luxury alternative to Cartier and Van Cleef.
Chinese heritage-craft gold jewelry brand positioned as a domestic luxury alternative to Cartier and Van Cleef.
Prices pieces as designed items rather than by weight, so it earns a brand premium over the gold content, unlike traditional jewelers who charge by the gram plus a small fee. It sells through its own stores in high-end malls rather than through franchisees. It listed in Hong Kong in 2024.
In one line: China's Cartier, using traditional Chinese gold-craft techniques.
Moat: narrow (brand, process know-how). Distinctive heritage-craftsmanship positioning has built rapid brand desirability in China.
Headquarters: Beijing, China · Founded: 2009 · Employees: 2,113
Size Laopu Gold (6181.HK) is a Hong Kong Consumer Discretionary company (Other Consumer Specialties) with a market value of $6.84B, the 216th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$303.60 on 6 Nov 2026.
Performance Over six months the shares fell 48.2%, against -5.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 8 in its peer set.
Growth Revenue grew 108.5% over the last twelve months (peer median +0.7%); the operating margin is 26.6% (peer median 10.7%).
Valuation It trades at 6.9× forward earnings against a peer median of 17.2× (cheapest of 8).
Capital Return on invested capital runs 30.6 points above its cost of capital (11.9% WACC).
Next results Next results expected around 5 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$38.9B | HK$29.6B | HK$9.22B | HK$3.51B | HK$1.51B |
| Revenue growth | — | +221% | +162% | +133% | — |
| Gross profit | HK$15.4B | HK$11.1B | HK$3.80B | HK$1.47B | HK$630M |
| EBITDA | HK$10.8B | HK$7.44B | HK$2.33B | HK$751M | HK$253M |
| Net income | HK$7.71B | HK$5.28B | HK$1.60B | HK$460M | HK$110M |
| Free cash flow | -HK$3.19B | -HK$7.71B | -HK$1.44B | -HK$104M | HK$126M |
| Capital expenditure | HK$178M | HK$157M | HK$76.9M | HK$65.8M | HK$40.2M |
| Total debt | n/a | HK$7.42B | HK$1.80B | HK$434M | HK$376M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Laopu Gold 6181.HK | $6.84B | -48% | +109% | 27% | 6.9× | n/a |
| Chow Tai Fook 1929.HK | $15.0B | +3% | +5% | 19% | 11.3× | -8.1% |
| Luk Fook Holdings (International) 0590.HK | $1.58B | -9% | +29% | 20% | 6.1× | n/a |
| Compagnie Financiere Richemont CFR.SW | $122B | +10% | +2% | 21% | 24.8× | 10.5% |
| Chow Sang Sang Holdings International 0116.HK | $1.13B | +7% | +16% | 20% | 3.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6181.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.5% | +4.1% | 2nd lowest of 8 |
| 6-month return | -48.2% | -5.8% | lowest of 8 |
| Distance from 52-week high | -66.2% | -24.6% | lowest of 8 |
| Revenue growth (TTM) | +108.5% | +0.7% | highest of 8 |
| Operating margin | 26.6% | 10.7% | highest of 8 |
| Forward P/E | 6.9× | 17.2× | cheapest of 8 |
| ROIC minus cost of capital | +30.6 pp | +7.3 pp | highest of 8 |
| EV / EBITDA | 5.4× | 7.8× | 2nd cheapest of 6 |
| Net debt / EBITDA | 0.5× | 1.1× | 2nd least indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Laopu Gold 6181.HK | Hong Kong | $6.84B | -48% | +109% | 27% | 6.9× | n/a | n/a |
| Seiko 8050.T | Japan | $4.71B | +54% | +16% | 11% | 21.0× | 24.4% | +10.6% |
| Pandora A/S PNDORA.CO | Denmark | $10.1B | +67% | +1% | 24% | 13.7× | -6.9% | +11.4% |
| Swatch Group Ltd. Bearer UHR.SW | Switzerland | $11.3B | -13% | 0% | 2% | 43.1× | 21.6% | +2.3% |
| Chow Tai Fook 1929.HK | Hong Kong | $15.0B | +3% | +5% | 19% | 11.3× | -8.1% | +6.1% |
| Samsonite 1910.HK | Hong Kong | $2.52B | -6% | +1% | 15% | 10.3× | -12.2% | +18.0% |
| Lao Feng Xiang 600612.SS | China | $2.04B | -17% | -40% | 6% | 17.2× | -16.9% | +0.4% |
| China National Gold Group Gold Jewellery 600916.SS | China | $1.80B | -20% | -9% | 0% | 28.6× | 24.2% | +15.6% |