Core Viewpoint - The emergence of "gold recycling machines" in shopping malls represents a new trend in the gold recovery market, driven by rising gold prices and consumer demand for transparent and convenient recycling options [1][14][15]. Group 1: Overview of Gold Recycling Machines - "Gold recycling machines" are self-service terminals that allow users to sell gold jewelry with a weight range of 3 grams to 1000 grams and a gold content of over 50% [3][4]. - The machines provide free gold testing and are designed to offer a transparent and quick selling process, typically taking about 3 minutes for initial assessments [6][8]. - The initial assessment includes key data such as gold price, weight, purity, estimated value, service fees, and final buyback amount, calculated based on real-time prices from the Shanghai Gold Exchange [8][10]. Group 2: Market Demand and Growth - The demand for gold recycling is increasing, with approximately 31% of China's gold supply in 2023 coming from recycled sources [14]. - The total transaction volume of gold at the Shanghai Gold Exchange in the first half of 2025 reached 16,000 tons, a year-on-year increase of 12.70%, with a total transaction value of 12 trillion yuan, up 56.46% [14]. - The "smart gold store" model has seen significant growth, with a reported 589% increase in total recycling volume in the first half of 2025 compared to the previous year [15]. Group 3: Competitive Landscape - Traditional gold recovery channels often face issues such as price opacity and complex fee structures, making the transparent pricing of gold recycling machines an attractive alternative [14][15]. - The market for gold recycling is becoming increasingly competitive, with various players, including e-commerce platforms and specialized recovery brands, entering the space [17][18][19]. - The success of the "gold recycling machine" model hinges on consumer trust and the ability to adapt to changing consumption trends, as previous attempts at similar models have failed due to a lack of interpersonal communication [17].