Laopu Gold Sees Boost in Second Half Amid Rising Bullion Prices

Mainland jewellery maker Laopu Gold reported an impressive 88.2% jump in interim net profit to 4.27 billion yuan, while revenue climbed 60.3% to 19.81 billion yuan.

The firm's founder and chairman Xu Gaoming attributed the strong results to a rare rebound in bullion prices.

Despite a correction in global gold prices in the second quarter, Laopu's first-half performance met expectations.

Xu said the company's results for the second half could benefit from rising demand from high-end consumers and increasing gold prices.