Old Shop Gold raises prices starting today, with some necklaces increasing by 7,560 yuan overnight! The 469,000 yuan Gold Ruyi was sold out yesterday on Tmall.

Red Star Capital Bureau, February 28 — Laopuo Gold (06181.HK) announced today that it is starting a new round of price increases, with hikes ranging from 20% to 30%.

On February 28, a sales staff member at a Laopuo Gold store in Chengdu told Red Star Capital Bureau that there are few remaining ring styles in the store, and many styles have already sold out before the price increase. Another sales staff member from Laopuo Gold stated that the company’s pricing is unified nationwide. Currently, several popular products in the store are well-stocked, with multiple weights available. There are no offline promotions, but online activities are ongoing.

It is understood that Laopuo Gold’s flagship store on Tmall has been offering a full discount promotion since 2:00 PM on February 26, with 100 yuan off for every 1,000 yuan spent. The combined effect of this promotion and the upcoming price increase may have led to many products selling out early. On the afternoon of February 27, Red Star Capital Bureau noticed that many gold products in Laopuo Gold’s Tmall flagship store were marked as “sold out,” including a 469,000 yuan handcrafted pure gold Ruyi and a 139,000 yuan cross-shaped diamond pendant with a Buddha bead. As of press time today, only 15 products remain for sale in the flagship store.

On February 27, a 14-gram full-diamond cross-shaped diamond pendant chain was priced at 27,441 yuan. Today, the same chain’s price has risen to 35,001 yuan, an increase of 7,560 yuan overnight, a 27.6% rise. A 13.8-gram rose window medium-sized Chopin chain’s price increased from 28,845 yuan to 36,405 yuan, also up by 7,560 yuan.

Red Star Capital Bureau notes that Laopuo Gold has increased prices three times in 2025. The first price adjustment last year also occurred after the Spring Festival, with increases ranging from 5% to 12%. On February 19, Laopuo Gold announced that it would start a price hike on February 28, which triggered a rush to buy.

Laopuo Gold is not the only gold brand raising prices after the Spring Festival. On February 28, a sales staff member at a Chow Tai Fook (01929.HK) store in Chengdu told Red Star Capital Bureau that the store’s fixed-price products are expected to see a price adjustment in mid-March, with increases of 15% to 30%. They said that a Wudi coin bracelet currently priced at 53,800 yuan is expected to rise to 71,800 yuan.

On February 28, Pan Helin, a member of the Information and Communication Economy Expert Committee of the Ministry of Industry and Information Technology, told Red Star Capital Bureau: “Gold shops don’t raise prices based on demand strength, but follow international gold prices. If international gold prices have already risen, it’s natural for domestic gold shops to adjust prices upward in the short term.”

Since the beginning of this year, London gold has risen from about $4,400 per ounce at the start of the year to today’s $5,276.2 per ounce, an increase of about 20%. On January 29, it hit a record high of $5,594.82 per ounce.

In January, Chow Sang Sang (00116.HK) and Chow Tai Fook (002345.SZ) both raised their gold jewelry prices. According to 21st Century Business Herald, on January 6, Chow Sang Sang’s price adjustments increased by approximately 200 to 1,500 yuan. Additionally, according to The Beijing News, on January 16, Chow Tai Fook launched a new round of price adjustments for many fixed-price gold jewelry, with increases ranging from a few hundred yuan to over ten thousand yuan.

Why are the price increases concentrated on fixed-price products? Pan Helin believes that fixed-price products are originally intended to break information asymmetry in gold prices. These products often reserve some premium margin. However, due to large fluctuations and rapid increases in gold prices, the premium margins on many fixed-price products have been eroded by the price hikes. If sold at original prices, gold shops would suffer losses. Therefore, multiple brands have raised the prices of fixed-price products.

On February 27, Laopuo Gold closed at HKD 723.5 per share, up 3.58% for the day.

Red Star News reporters: Yu Yao, Zhou Yi

Editors: Yu Dongmei; Review: Sheng Gaoxiang