Laopu Gold (6181) H2 2024 earnings summary

Executive summary

• Revenue surged 167.5% year-over-year to RMB8,505.6 million, driven by brand expansion and new boutiques.

• Gross profit rose 162.9% to RMB3,501.2 million, with gross margin stable at 41.2%.

• Net profit increased 253.9% to RMB1,473.1 million; non-IFRS adjusted net profit up 253.4% to RMB1,501.7 million.

• Seven new boutiques opened and four expanded, boosting revenue contribution.

• Final dividend of RMB6.35 per share proposed, totaling approximately RMB1,070 million.

Financial highlights

• Revenue: RMB8,505.6 million (2024) vs. RMB3,179.6 million (2023), up 167.5%.

• Gross profit: RMB3,501.2 million, up 162.9% year-over-year.

• Net profit: RMB1,473.1 million, up 253.9% year-over-year.

• Non-IFRS adjusted net profit: RMB1,501.7 million, up 253.4%.

• Basic and diluted EPS: RMB9.47 (2024) vs. RMB3.03 (2023).

• Gross margin: 41.2%; non-IFRS adjusted net profit margin: 17.7%.

Outlook and guidance

• Plans to continue product innovation, R&D, and international expansion.

• Aims to solidify position as China's top heritage gold jewelry brand and lead global gold brands.