Lao Feng Xiang disclosed its 2026 half-year report on 26 August. First-half operating revenue was 19.987 billion yuan, down 40.08% year on year, and net profit attributable to the parent was 716 million yuan, down 41.34% year on year. The revenue decline was mainly due to a sharp contraction in investment gold business, with cumulative gold trading revenue falling 69.48% in the first half, compounded by lower gold jewellery consumption. However, a higher proportion of high-margin ornaments lifted gross margin to 12.16%. The company proactively optimised its store network, closing 342 low-efficiency franchised stores in third- and fourth-tier cities in the first half while opening 71 franchised stores in first- and second-tier cities. It also launched an interim dividend plan of 0.20 yuan per share, totalling 105 million yuan.
Lao Feng Xiang Co Ltd ARevenue fell 40% due to sharp contraction in investment gold business and lower gold jewellery consumption.
Lao Feng Xiang Co Ltd BRevenue fell 40% due to sharp contraction in investment gold business and lower gold jewellery consumption.
