Laopu Gold Profit Surge
Laopu Gold Reports Surging First-Half Profit on Higher Revenue and Margins
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Key Points
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Basic earnings per share from continuing operations was RMB 24.16, up from RMB 13.38 a year ago; diluted earnings per share was RMB 24.13, up from RMB 13.34.
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First-half revenue was RMB 19,808.37 million, up from RMB 12,354.24 million a year earlier.
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Net profit attributable to owners rose 88% year-on-year to RMB 4.27 billion.
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Interim dividend of RMB 18.02 per share was declared; record date 4 December 2026; payment date 22 January 2027; ex-dividend date 27 November 2026.
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Shares traded about 2.1% lower ahead of the results, with year-to-date losses around 37%.
Laopu Gold reported first-half 2026 results that nearly doubled profits, with net income hitting RMB 4.27 billion — an 88% jump year-over-year MarketScreener. Revenue surged to RMB 19.81 billion from RMB 12.35 billion a year earlier, driven by higher gold prices and improved product margins. Earnings per share climbed to RMB 24.13 from RMB 13.34, as the luxury jeweler's profit margin expanded to 21.5% from 18.4%.
Revenue Growth Fueled by Price Gains and Inventory Moves
The jeweler's 60% revenue increase reflects both higher sales volumes and favorable pricing conditions BigGo Finance. Single-store sales at luxury malls topped 500 million yuan, signaling strong demand among wealthy shoppers. The company benefited from low-cost inventory reserves and price adjustments made earlier in the year, which compressed costs and boosted margins across its product lines.
Robust Dividend Signals Shareholder Confidence
The board declared an interim dividend of RMB 18.02 per share, payable January 22, 2027, with an ex-dividend date of November 27, 2026 MarketScreener. This payout reinforces management's commitment to returning capital to investors while the company expands its brand presence. The dividend also reflects confidence that current results represent a bottom for the luxury sector.
Market Headwinds Despite Strong Fundamentals
Despite posting these results, Laopu Gold's stock has lost about 37% year-to-date and traded roughly 2.1% lower ahead of the earnings announcement. Market volatility in gold prices and broader macro uncertainty have weighed on the luxury jeweler. Yet analysts point to accelerating sales from personal shoppers and ongoing product optimization as signs the jeweler may have turned a corner.
China's Leading Luxury Jeweler Gains Market Share
Laopu Gold ranks second in mainland China by revenue among global luxury brands, positioning it to capture rising demand from high-income consumers BigGo Finance. The company's focus on personal shoppers and tailored service strengthens its competitive moat in a market that values personalized luxury experiences. Continued brand expansion and product innovation should sustain momentum through the second half of 2026.
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