Laopu Gold H1 Revenue Up 60% YoY, Net Profit Surges 88% Yet Misses Estimates; Online and Overseas Businesses Emerge as Growth Highlights | Earnings Report

Laopu Gold sustained high growth in H1 2026, posting operating revenue of RMB 19.808 billion, up 60.3% year-on-year; net profit reached RMB 4.267 billion, up 88.2% year-on-year. Profitability improvement was primarily driven by low-cost inventory, product price adjustments, and economies of scale. Online revenue grew 171.9%, overseas revenue doubled, and the high-end customer base continued to expand. The company expanded its store network to 45 locations, maintaining industry-leading per-store efficiency, while overall financial leverage declined.