---
title: "In 2025, when gold prices soared, CHJ doubled its profits by selling \"pain gold.\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/272394462.md"
description: "Lightweight Self-pleasure Demand"
datetime: "2026-01-13T10:20:59.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/272394462.md)
  - [en](https://longbridge.com/en/news/272394462.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/272394462.md)
---

# In 2025, when gold prices soared, CHJ doubled its profits by selling "pain gold."

Beyond Lao Pu Gold, the gold and jewelry industry seems to have more diverse growth paths.

The performance forecast released by CHJ recently indicates that its net profit attributable to shareholders is expected to reach 436 million to 533 million yuan in 2025, a year-on-year increase of 125% to 175%.

This performance is particularly prominent in the current gold and jewelry consumption sector.

In a horizontal comparison, Chow Tai Fook's revenue for the six months ending September 30, 2025, slightly decreased by 1%, with profits remaining basically flat; Lao Feng Xiang and Chow Sang Sang saw their revenue decline by 8.7% and 37% year-on-year, respectively, in the first three quarters.

Over the past year, the sustained high gold prices have brought general pressure on consumption across the industry, but they have also increased consumer attention to gold jewelry.

Low total price and low purchase threshold small-weight gold jewelry have thus become particularly favored.

At the same time, small-weight gold jewelry has created new premium space through a large number of IP licensing collaborations, further catering to the demand under "self-consumption."

CHJ targets young women aged 25-35 and refined mothers, collaborating with Sanrio, Minions, Crayon Shin-chan, and popular IPs in recent years such as Line Friends and Butter Bear.

Guojin Securities analyst Yu Jian pointed out that the premium rate of CHJ's IP co-branded products is higher than that of weight-based pricing, reaching 151.8%, and many adopt 5D hard gold technology, giving them a more advantageous gross profit margin.

Compared to leading brands that have completed franchise expansion in the early stages, CHJ is still in the store growth phase driven by the franchise model.

By the end of 2025, the total number of CHJ jewelry stores has reached 1,668, with a net increase of 163 stores in the year, including a net increase of 128 stores in the second half of the year, significantly accelerating the store expansion speed. Relevant personnel from CHJ Securities revealed to Xinfeng that this increase mainly comes from franchise stores.

While accelerating its domestic layout, CHJ is also looking overseas by promoting A+H listings.

The aforementioned personnel stated that by the end of 2025, CHJ has established 11 overseas stores in Malaysia, Cambodia, Singapore, and Thailand.

By 2028, it plans to open at least 20 jewelry stores overseas and establish a headquarters in Hong Kong to coordinate operations.

In the future, overseas business will not only serve the Chinese community but also plans to develop localized products, with related overseas plans currently being implemented steadily

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