Laopu Gold (06181) announced interim results. Adjusted net profit of 4.317 billion yuan increased 83.6% year over year

According to Zhitong Finance App News, Laopu Gold (06181) announced interim results for the six months ended June 30, 2026. The group achieved sales performance of RMB 22.779 billion (same unit), up 60.6% year on year; revenue of 19.808 billion yuan, up 60.3% year on year; profit attributable to company owners of 4.267 billion yuan, up 88.18% year on year; adjusted net profit of 4.317 billion yuan, up 83.6% year on year; basic profit of RMB 24.16 per share, and plans to distribute an interim dividend of RMB 18.02 yuan per share.

During the reporting period, in the face of a complex and changing macroeconomic environment, the Group relied on significant differences in brand positioning, products, channels, store scenarios and customer service to further strengthen its market position. We believe that “classic culture+gold” is deeply integrated into the luxury value standards constructed by old gold stores, which can cross the time cycle and create real and higher consumption value for consumers.

Our product sales are mainly through offline store channels, and offline store revenue accounted for about 77.8% of total revenue during the reporting period. Online platform sales performance was strong. During the reporting period, revenue generated by online platforms accounted for about 22.2% of total revenue, up 171.9% from the same period in 2025, and the consumer base expanded rapidly.

The Group's gross margin increased 3.2 percentage points from about 38.1% for the 6 months ended June 30, 2025 to about 41.3% for the 6 months ended June 30, 2026, and the net margin increased 3.1 percentage points from about 18.4% for the 6 months ended June 30, 2025 to about 21.5% for the 6 months ended June 30, 2026. Both gross margin and net margin increased during the reporting period compared to the same period in 2025, mainly due to: sufficient relatively low-cost inventory reserves at the end of 2025; price adjustments for the company's products at the end of February 2026; and the marginal contribution brought about by continued revenue growth.