Laopu Gold's net pofit surged by 2.5 times

Tue April 01 2025

Laopu Gold (6181) announced its net profit surged by 253.9 percent to 1.47 billion yuan (HK$1.57 billion) in 2024 amid the rise of the gold price. The company declared its first dividend payment of 6.35 yuan per share since listing, and the annual dividend payout ratio reached 72.6 percent.

Its revenue grew by 167.5 percent year-on-year to 8.51 billion yuan due to the strong sales of gold jewelry. The company's gross profit rose to 3.50 billion yuan, showing a growth of 162.9 percent, due to brand influence, product evolution and store expansion, according to an exchange filing.

The inventories of Laopu Gold witnessed an increase of 222.4 percent to 4.09 billion yuan, primarily driven by the build-up of product inventories to meet surging demand. With seven new boutiques,it operated a total of 36 boutiques in 15 cities as of the end of 2024 and its same-store revenue growth rate exceeded 120.9 percent.

After the result announcement, its share price surged 19.07 percent, or HK$139, to HK$868 per share today. Laopu Gold had announced the proposed H share full circulation, with the 40.39 million unlisted shares converted into H shares on March 7.

Source: https://www.thestandard.com.hk/