Last Updated -
August 5, 2026
Explore the business model, global strategy, and market performance including insights into its position in China.
Laopu Gold Co., Ltd. is a premium Chinese gold jewelry company founded in 2009 and headquartered in Beijing, China. It manufactures and sells traditional Chinese handcrafted gold jewelry, with a focus on heritage gold designs that use Chinese cultural motifs and goldsmithing techniques. The company listed on the Hong Kong Stock Exchange Main Board in June 2024 under stock code 6181.
Laopu Gold operates a self-run boutique model focused on high-end shopping malls, supported by online flagship channels. Its main business is gold jewelry sales, which generated RMB27.28 billion of its RMB27.30 billion revenue in 2025, while maintenance and repair services were a small ancillary activity. At the end of 2025, the company operated 45 boutiques in 16 cities across 34 reputable commercial centers, and it opened its first overseas boutique at Marina Bay Sands in Singapore during the year.
The company’s strategy is to build a high-end Chinese cultural gold jewelry brand through original design, heritage craftsmanship, and premium retail locations. Laopu reported more than 2,300 artworks, 283 domestic patents, 1,683 work copyrights, and 276 overseas patents at December 31, 2025. In 2025, revenue rose 221.0% to RMB27.30 billion, profit for the year rose 230.5% to RMB4.87 billion, and loyalty members reached about 610,000, making Laopu Gold a significant growth name in China’s premium jewelry market.
Laopu Gold is a premium Chinese gold jewelry retailer built around self-operated boutiques, original designs, and traditional Chinese heritage-gold craftsmanship. The company makes almost all of its money from selling gold jewelry, with maintenance and repair services remaining immaterial. In FY2025, revenue reached RMB27.30 billion, up 221.0%, while gold jewelry revenue was RMB27.28 billion. Maintenance and repair services contributed RMB7.1 million.
The business model is more comparable to a luxury retail brand than a mass-market jewelry chain. Laopu operates boutiques in high-end shopping malls, controls its store presentation directly, and uses cultural design, craftsmanship, patents, and copyrights to support premium pricing. At December 31, 2025, it operated 45 self-run boutiques across 16 cities in 34 reputable commercial centers, including SKP and MixC locations.
Laopu’s main product category is traditional Chinese handcrafted gold jewelry, including heritage-gold designs and diamond-inlaid pure-gold jewelry. Its differentiation rests on cultural aesthetics, in-house original design, and specialized production techniques rather than broad product volume. At the end of 2025, the company reported more than 2,300 artworks, all original product designs, 283 domestic patents, 1,683 work copyrights, and 276 overseas patents.
Its competitive advantages are concentrated in four areas.
Laopu’s direct competitors include Chow Tai Fook Jewellery Group, Chow Sang Sang, Luk Fook, Lao Feng Xiang, and other Chinese gold and jewelry brands competing for premium retail locations, gold product demand, and affluent consumer attention. It also competes indirectly with global luxury houses for discretionary spending by high-net-worth Chinese customers.
Compared with Chow Tai Fook, Laopu is smaller by store footprint but more concentrated in premium self-operated boutiques and heritage-gold positioning. Chow Tai Fook has a broader jewelry range and much larger retail network, while Laopu’s market position is built around high revenue productivity in elite malls, luxury-style branding, and a focused Chinese cultural gold category.
Laopu holds a strong niche position in China’s premium gold jewelry market. Its FY2025 growth, high sales density, and rising membership base of about 610,000 customers show strong consumer traction. The key investor question is whether the company sustains luxury-level demand while managing gold-price volatility, inventory intensity, and the working-capital burden of rapid boutique expansion.
China is Laopu Gold’s core market. In FY2025, mainland China revenue reached RMB23.36 billion, equal to 85.6% of total revenue, while overseas revenue was RMB3.94 billion. No Q1 2026 operating update has been published, so FY2025 is the latest full reporting period. The company operates a self-run premium boutique model centered on top commercial malls, with 45 boutiques in 16 cities at year-end 2025 after opening 10 boutiques, expanding or optimizing 9, and entering 8 new commercial centers. Boutique sales generated RMB22.65 billion, or 82.9% of revenue, while online platforms contributed RMB4.66 billion. Laopu’s China strategy is based on heritage-gold design, high-end mall traffic, original IP, and premium pricing. Its main domestic competitors include Chow Tai Fook, Chow Sang Sang, Lao Feng Xiang, and other gold jewelry brands, while its positioning also overlaps with global luxury houses.
Laopu Gold’s growth profile changed materially in 2025. Sales rose 220.3% to RMB31.37 billion, revenue rose 221.0% to RMB27.30 billion, and profit for the year rose 230.5% to RMB4.87 billion. No Q1 2026 operating results were available, so FY2025 remains the latest full financial period. The turning point was the company’s ability to scale a self-operated luxury boutique model while keeping online channels relevant. Boutiques generated 82.9% of FY2025 revenue, while online platforms contributed 17.1% after revenue from that channel rose 341.3% year on year.
Laopu’s near-term outlook depends less on finding demand and more on managing scale. The brand has strong sales momentum, visible product differentiation, and early overseas traction. The main test is whether it sustains premium store productivity while reducing cash strain from inventory and borrowings. Growth remains attractive, but future returns will depend on disciplined boutique expansion, careful gold inventory management, and proof that the brand travels beyond mainland China.
This Company Profile was written by Dominik Diemer
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