Lao Pu Gold Reports H1 Revenue of RMB 19.8 Billion, Up 60% YoY
Nashnova编辑部
Lao Pu Gold (老铺黄金) reported H1 2026 revenue of roughly RMB 19.8 billion, up 60.3% year-on-year; gross profit grew even faster at 73.7%, signaling the company is keeping more from every sale than it did a year ago.
How much did it sell in H1?
Total sales reached about RMB 22.78 billion, up roughly 60.6% year-on-year.
Of that, recognized revenue came in at about RMB 19.81 billion, up roughly 60.3%.
This means → Lao Pu's half-year revenue is knocking on the RMB 20 billion door, with growth still running above 60%.
Why did gross profit grow faster than revenue?
Gross profit hit about RMB 8.17 billion, up roughly 73.7% year-on-year.
That outpaced revenue growth by about 13 percentage points, pointing to a higher gross margin versus a year ago.
In plain terms = for every RMB 100 of goods sold, more stayed in the company's pocket this year — either prices rose, costs fell, or both.
What signal does this send?
Against a backdrop of persistently rising gold prices, Lao Pu is growing not just in volume but in profit quality.
This reflects a strengthening brand premium — consumers are willing to pay extra for the Lao Pu name.
This means → the market will watch whether this trend holds in H2 and whether the margin improvement is sustainable.
Content is for reference only, not financial advice.