新京报贝壳财经记者 曲筱艺 编辑 岳彩周 校对 刘军 12月2日，贝壳财经记者获悉，中国高端黄金珠宝品牌"宝兰"完成过亿元A轮融资，由挑战者创投领 投，开云集团与顺为资本跟投。在当前黄金珠宝行业整体承压的大背景下，一家仅有三家门店的黄金珠 宝品牌获得过亿元融资，再次将持续升温的古法黄金赛道推至聚光灯下。 过去一年，金价屡创新高，黄金消费结构随之加速分化——整体首饰消费下行，"古法金"反而逆势攀 升。在热度不断累积、资本持续加码的背景下，古法黄金赛道究竟迎来的是扩容红利，还是被迅速放大 的泡沫？老铺黄金面临更多对手，能否继续领跑？ 唐彬森、雷军都看中了古法黄金赛道 从投资机构构成来看，本轮融资阵容并不寻常。挑战者创投由元气森林创始人唐彬森创立，长期专注消 费品领域；顺为资本的法定代表人为雷军；而开云集团则是全球奢侈品巨头，旗下拥有古驰、圣罗兰等 一众国际品牌。三方同时下注一家仅有三家门店的古法黄金品牌，背后信号颇耐人寻味：古法黄金或已 不再是小众工艺品类，正被视为高端消费市场的下一块"蛋糕"。 值得注意的是，被资本相中的宝兰并非初来乍到。天眼查信息显示，宝兰黄金成立于1988年，隶属于杭 州鸿通贸易有限公司，由 ...

Core Viewpoint - The company expects a significant increase in revenue and adjusted net profit for the first half of 2025, driven by brand influence, product optimization, and new store openings [1][2][3] Financial Performance - The company forecasts revenue of 120-125 billion yuan for 25H1, representing a year-on-year growth of 241%-255% [1] - Adjusted net profit is expected to be between 23.0-23.6 billion yuan, reflecting a year-on-year increase of 282%-292% [1] - The adjusted net profit margin is projected to be approximately 19.0%, an increase of 1.9 percentage points compared to the previous year [3] Market Expansion - As of July 27, 2025, the company has entered 30 shopping malls across 16 cities, including new entries in Shanghai and Singapore [3][6] - The company plans to open more high-end stores, with expectations of adding over 7 new high-end shopping mall channels by the end of 2025 [3][7] Product Innovation - The company launched new product lines, including the "Seven Sons Gourd" and "Cross" series, emphasizing originality and craftsmanship [4] - The "Seven Sons Gourd" series features high-temperature enamel craftsmanship, priced between 32,000 to 45,000 yuan, showcasing a vibrant color palette [4] Industry Outlook - The domestic high-end gold jewelry market is estimated to be around 100 billion yuan, with a trend of consumers shifting towards gold jewelry from other types [5][6] - The company is strategically expanding into international markets, with recent openings in Singapore and plans for further expansion into regions like the Middle East and Europe [6][7] Profit Forecast - Revenue projections for the company are 252.84 billion yuan in 2025, 341.14 billion yuan in 2026, and 434.09 billion yuan in 2027, with corresponding growth rates of 197.3%, 34.9%, and 27.2% [7]