Citigroup: Despite price fluctuations, the sales prospects of old shop gold are bright.

Citigroup analyst Tiffany Feng stated that amid the volatility of the gold price, investors in Lao Bu Gold are focusing on its future sales momentum, as its preliminary performance in the first quarter exceeded expectations. Citigroup said that Lao Bu Gold's current inventory could generate sales of 53 billion yuan in 2026, nearly double the 27.3 billion yuan in 2025. With strong cash flow, the company has no urgent financing needs unless sales maintain triple-digit growth. The bank gives the stock a buy rating with a target price of 1,162 Hong Kong dollars per share.