Laopu Gold (老铺黄金), the “first stock in traditional craft gold” and “big three of new consumption at HKEX”, has just released its unaudited financial statement for the first half of this year, including its revenue and profit growth.
The statement shows that the group is expected to have generated around 12 billion (1.67 billion USD) to 12.5 billion RMB (1.74 billion USD) in revenue in H1 2025, up 241% to 255% year-on-year (YoY). Meanwhile, net profit for the first six months of this year is projected to be around 2.23 billion RMB (310.68 million USD) to 2.28 billion RMB (317.64 million USD), an increase of 279% to 288% compared to last year.
Laopu’s statement notes that the main reasons for the sharp growth in both revenue and profit are:
- Brand: The Laopu brand continues to grow in influence, driving sales and profit growth.
- Product: The continuous update and optimisation of its products also helped boost online and offline sales.
- Channels: the benefits of the 5 new stores opened in H1 and the optimisation of existing outlets will show in the second half of this year. Currently, Laopu Gold has 41 stores in 16 cities in and out of China. Laopu’s first overseas store opened in Singapore on 21 June, marking its global expansion.
The share price dropped 4.12% on 28 July after the statement but bounced back slightly on 29 July to 749 HKD (95.41 USD) per share. The rise of Laopu, POP MART and Mixue in both revenue and the stock market this year highlights the new “emotional” consumption trend.