Laopu Gold (6181) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2026, rose 60.3% year-over-year to RMB19,808.37 million, with sales reaching RMB22,778.73 million, up 60.6%.

• Gross profit increased 73.7% to RMB8,173.74 million, and profit for the period surged 88.2% to RMB4,267.23 million.

• The company maintained its leadership in the Chinese heritage gold jewelry market, expanded its boutique network, and saw strong growth in both offline and online channels.

• Overseas revenue more than doubled, aligning with the brand's internationalization strategy.

Financial highlights

• Revenue: RMB19,808.37 million, up 60.3% year-over-year.

• Gross profit: RMB8,173.74 million, up 73.7%.

• Net profit: RMB4,267.23 million, up 88.2%.

• Adjusted net profit (excluding share-based payments): RMB4,316.51 million, up 83.6%.

• Gross margin improved to 41.3% from 38.1%; net margin rose to 21.5% from 18.4%.

• Interim dividend proposed at RMB18.02 per share, nearly double the prior year.

Outlook and guidance

• Management remains confident in future growth, focusing on brand internationalization, product innovation, and boutique expansion.

• Plans to optimize 10–12 boutiques in 2026 and continue expanding both domestic and overseas presence.