New Stock News | Lao Pu Gold passes the hearing at the Hong Kong Stock Exchange, becoming the first brand in our country to promote the concept of "ancient method gold"

According to the Zhitong Finance and Economics APP, as disclosed by the Hong Kong Stock Exchange on June 12, Lao Pu Gold Limited (hereinafter referred to as "Lao Pu Gold") conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC International as its exclusive sponsor. According to the prospectus, Lao Pu Gold is a brand certified by the China Gold Association that first promotes the concept of "ancient gold" in China. It is the leading brand in China for traditional handmade gold jewelry. The brand inherits Chinese classic culture and intangible cultural heritage craftsmanship, integrating international fashion aesthetics. Lao Pu Gold embodies both the cultural value of Chinese intangible heritage and significant product differentiation. According to Frost & Sullivan data, based on 2023 revenue calculations, the company's market share in the Chinese traditional gold jewelry market and gold jewelry market are 2.0% and 0.6% respectively. The company has established market influence in well-known commercial centers in first-tier and new first-tier cities in China. As of the last practicable date, a total of 33 self-operated stores have been opened, all located in high-end department stores with strict admission requirements including SKP and MixC. According to Frost & Sullivan data, as of April 2024, the company covers 8 of the top ten high-end department stores nationwide, ranking first in coverage among all domestic gold jewelry brands. According to Frost & Sullivan data, the company is the only brand among the major brands in the Chinese gold jewelry market that focuses on the design, production, processing, and sale of ancient gold products. Data shows that in 2022 and 2023, the company's single-store revenue ranked first for two consecutive years among all gold jewelry brands in China. In 2023, the company's performance further increased significantly. Among the stores existing as of December 31, 2023, the average store revenue in 2023 reached RMB 93.9 million, doubling the average store revenue as of December 31, 2022. Furthermore, according to Frost & Sullivan data, ancient gold has ushered in a new product era in the Chinese gold jewelry industry. In recent years, the demand for high-quality products by consumers has further increased, bringing new development opportunities to the gold jewelry market. Ancient gold products have become the gold category with the greatest growth potential and fastest growth rate in the gold jewelry market. Founded in 2009, Lao Pu Gold was the first brand in China to promote the concept of "ancient gold," the first to launch "gold inlaid with diamonds" products, and the first to introduce "gold body burnt blue" products. The scale of the Chinese traditional gold jewelry market, measured by sales revenue, has grown from approximately RMB 13 billion in 2018 to about RMB 157.3 billion in 2023, with a compound annual growth rate of 64.6%. It is estimated that by 2028, the market size will reach approximately RMB 421.4 billion, with a compound annual growth rate of 21.8% With the first-mover advantage in the field of traditional handmade gold jewelry, leading product design and manufacturing capabilities, continuous innovation in product research and development, and high-quality customer service, the company is in a favorable position to seize the huge growth potential of the Chinese traditional gold jewelry market. Financially, for the years 2021 to 2023, Lao Pu Gold's revenue is approximately RMB 1.265 billion, RMB 1.294 billion, and RMB 3.18 billion respectively; while the corresponding net profits are approximately RMB 114 million, RMB 94.529 million, and RMB 416 million.