On the evening of July 27, Lao Pu Gold (HK: 6181), known as the “first stock of ancient-style gold,” released its unaudited financial data for the first half of 2025. The group expects revenue for the period to reach approximately RMB 12 billion to RMB 12.5 billion (USD 1.65 billion to USD 1.72 billion), representing a year-on-year increase of around 241% to 255%. Net profit is projected to be between RMB 2.23 billion and RMB 2.28 billion (USD 306 million to USD 313 million), marking a growth of approximately 279% to 288% compared to the same period last year.
The group stated that the primary drivers of the increases in both revenue and net profit were:
- Brand: The group’s growing brand influence has created a significant market advantage, resulting in substantial revenue growth across both online and offline channels.
- Product: The group’s continuous product optimization and new product iterations have supported sustained revenue growth across both online and offline platforms.
Regarding distribution channels, the group noted that the new and optimized stores launched in the first half of the year will primarily contribute to revenue and profit in the second half of 2025.
According to Luxe.CO statistics, in the first half of this year, Lao Pu Gold opened five new stores: Beijing SKP-S, the Zen Room-themed store in Beijing Oriental Plaza, Shanghai Grand Gateway 66, Shanghai IFC, and Marina Bay Sands in Singapore. As of the end of June 2025, Lao Pu Gold operated 41 stores across 16 cities in China and overseas.
As of market close on July 28, Lao Pu Gold’s stock price had fallen 4.12% from the previous day to HKD 733 per share, with a total market capitalization of approximately HKD 126.6 billion.
Founded in 2009, the Lao Pu Gold brand specializes in handcrafted gold jewelry using traditional Chinese techniques. On June 28, 2024, it was officially listed on the main board of the Hong Kong Stock Exchange under the stock code “6181,” earning the title of the “first stock of ancient-style gold.”
In May this year, Lao Pu Gold announced that it had raised HKD 2.715 billion through a new share placement to accelerate store expansion and offset rising gold procurement costs.
On June 21, Lao Pu Gold opened its first overseas store at Marina Bay Sands, a landmark luxury shopping destination in Singapore (see image below), marking the official start of its global expansion.
| Source: Company announcement
| Image Credit: Company website
| Editor: LeZhi
