Group 1 - The global market for lab-grown diamonds is significantly reshaping the diamond industry, with China holding a 75% market share in production, leading to a major disruption of the traditional diamond market [1][3] - De Beers is facing over $2 billion in inventory backlog and has seen a decline in reputation, even after reducing prices by 25% twice, while American jewelry giant WD has declared bankruptcy [1][3] - The production cost of lab-grown diamonds in China is only one-tenth that of natural diamonds, allowing for mass production of high-quality diamonds [3][5] Group 2 - The sales volume of lab-grown diamonds in China has rapidly increased to a market share of 56.8%, surpassing that of natural diamonds, indicating a shift in consumer perception [7] - The U.S. jewelry associations attempted to weaken the competitiveness of Chinese products by enforcing mandatory labeling of "lab-grown diamonds," but the FTC's 2018 adjustment to diamond definitions has legitimized Chinese lab-grown diamonds [7] - Notably, Western brands like Pandora and Swarovski are now entering the lab-grown diamond market, further accelerating the transformation of the industry landscape [7]