The Tamesis
Xu Gaoming.
Jonathan Wong/South China Early Morning Article using Getty Pictures
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Amidst increasing gold costs, precious jewelry manufacturer Laopu Gold’s supply rate rose almost fivefold from a year back, making its creator Xu Gaoming amongst China’s wealthiest individuals for the very first time with a lot of money of $11 billion. It is called the “Hermès of gold precious jewelry” and includes splendid Chinese styles and conventional workmanship.
In the very first fifty percent of 2025, earnings greater than tripled year-on-year to 12.4 billion yuan ($ 1.7 billion), and internet revenue skyrocketed almost fourfold to 2.4 billion yuan.
Xu started the brand name in 2009 after functioning as a federal government staff at the neighborhood fisheries bureau in the 1980s and afterwards helping a tourist firm. In 2015, he elevated greater than $100 million by providing on the Hong Kong stock market. Laopu Gold has greater than 40 shops in landmass China, Hong Kong and Macau, and opened its very first abroad shop in Singapore in June this year.
