Laopu Gold Shares Surge

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market gold jewellery

South China Morning Post

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Entertainment

Laopu Gold's jewellery is selling like hot cakes despite tepid consumer spending in China

Summary

Nutrition label

84% Informative

Beijing -based jeweller known for its handmade accessories has emerged as a favourite among affluent consumers.

With just 36 stores in Greater China , the Hong Kong -listed company sold 3.5 billion yuan ( US$482.7 million ) worth of pure gold and gem-set jewellery in the first half of 2024 , up 148 per cent from a year earlier .

Its net profit skyrocketed nearly 200 per cent to reach 588 million yuan during the same period.

"When that happens, the question is whether Laopu 's brand strength can offset some of the negative impact of the downward cycle of gold prices," Lin said. "It is a possibility." This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century . For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright 2025 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2025 . South China Morning Post Publishers Ltd. All rights reserved..

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful