Laopu Gold Growth Slows as Gold Prices Plummet 24% in Six Months

Laopu Gold's revenue growth has slowed down significantly as gold prices have dropped by about 24% since their record high in January 2026. The Chinese luxury jeweler saw its revenue more than triple in the first half of 2025, but this year's slowdown is attributed to the decline in bullion prices.

The company expects a maximum revenue of approximately 20.5 billion yuan (around US$3.03 billion) for the six months ending June 2026, with adjusted net profit climbing 83% to 85%, reaching as much as 4.36 billion yuan. This growth is still strong by most standards but less impressive than before.

Laopu's strategy focuses on craftsmanship rather than the weight of gold in its products, which was a winning approach when bullion prices were rising and consumers felt smart buying something that might appreciate in value. However, falling metal prices have weakened the argument for jewelry as an investment, leading to consumer caution.