'Higher bullion prices could boost Laopu in H2'
The founder and chairman of mainland jewellery maker, Laopu Gold, said he's confident that a recent rebound in bullion prices would boost the company's financial results in the second half of 2026. The comments by Xu Gaoming came after the firm on Tuesday reported an 88.2 percent jump in interim net profit to 4.27 billion yuan, while revenue climbed 60.3 percent to 19.81 billion yuan. At a press…
Laopu Gold's founder, Xu Gaoming, expressed confidence that a recent increase in gold prices would enhance the company's financial performance in the second half of 2026. This optimism followed the firm's disclosure of a staggering 88.2% surge in interim net profit to 4.27 billion yuan and a 60.3% rise in revenue to 19.81 billion yuan. Despite a brief and notable downturn in global gold prices during the second quarter, Laopu's first-half results aligned with expectations.
During a press conference, Xu noted that the company's first-half results met projections, even as gold prices took a rare and significant hit. However, he remained optimistic about Laopu's prospects in the remainder of the year. Xu stated that Laopu's second-half performance could be positively influenced by a rise in gold prices, coupled with growing demand from premium consumers.
He elaborated that from the third quarter of the year until next year, overall gold prices are anticipated to continue their upward trajectory. This positive trend, he asserted, would benefit Laopu's entire operations, enabling the company to return to a normalized level.
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