Laopu Gold Co.’s full-year revenue and profit surged as its jewelry pieces and gold ornaments gained huge popularity from the country’s middle class shoppers, aided by soaring gold prices.

Revenue jumped 221% in 2025 from a year earlier to 27.3 billion yuan ($3.95 billion), topping the Bloomberg consensus estimate of 26.9 billion yuan, the company said in an exchange filing. Net income rose 230% to 4.87 billion yuan, in line with forecast.

The results solidify Laopu’s position as a leading Chinese high-end consumer brand at a time when Western luxury giants from LVMH Moet Hennessy Louis Vuitton SE to Kering SA have grappled with sluggish demand in the country. Surging gold prices have also been a tailwind for Laopu, as mainland consumers increasingly turn to the precious metal as a store of value.

The company credited the strong performance to its market leadership and store expansion in a preliminary earnings statement earlier in March. Laopu opened 10 new boutiques and upgraded nine existing shops in 2025.

Laopu has grown rapidly in the last two years, with its culturally inspired designs luring Chinese shoppers who are becoming increasingly nationalistic and loyal to domestic labels. Laopu sells pieces and ornaments at fixed prices, decoupled from daily gold benchmarks, letting it command higher premiums.

The jeweler routinely raises prices in pursuit of Western luxury positioning, and last month implemented its biggest hike yet — an average of 27%, according to Citigroup.