Chinese mainland gold and jewelry retailer Laofengxiang recently announced its performance for the first half of 2019, stating that the company achieved revenue of CNY28.105 billion, a year-on-year increase of 11.31%; and its gold and jewelry business achieved revenue of CNY21.171 billion, a year-on-year increase of 12.77%.
During the reporting period, Laofengxiang's net profit increased by 13.73% year-on-year to CNY739.1 million and its net profit after fees deduction was CNY723.6 million, a year-on-year increase of 15.13%.
By the end of June 2019, Laofengxiang had 3,589 sites across China, a net increase of 68 compared with that of the end of 2018. The company had 160 owned stores and specialty counters, 1,647 chain specialty stores, 1,763 sales sites, and 19 overseas stores.
From January to June 2019, Laofengxiang produced 65,316 kilograms of gold, a slight decrease of 0.11% year-on-year; its sales of gold were 81,060.45 kilograms, a year-on-year increase of 1.65%; its platinum production was 592.01 kilograms, a year-on-year decrease of 0.94%; and its sales of platinum were 674.57 kilograms, a year-on-year decrease of 14.14%.