每经编辑｜陈柯名 10月14日，现货黄金首次涨至4150美元/盎司关口，续刷历史新高。年内累计上涨超1500美元，涨幅58%。 受国际金价影响，珠宝品牌足金首饰价格也出现上涨。14日，周生生足金饰品价格已涨至1213元/克，昨日价格1188元/克，上涨25元/克。周大福今日金饰 价格1215元/克，昨日价格1190元/克，上涨25元。 | 周生生 (how Sang Sang | | | | | | | --- | --- | --- | --- | --- | --- | | 最後更新时间:2025-10-14 09:16:18 | | | | | | | 金价(人民币) | | | | | | | ¥1213 | 幸田 | | | | | | 足金饰品 | 换金价 | ¥1057 | (每克) | | | | 换珠宝价 | ¥1057 | | | | | | CHOW TAI FOOK | 及海外版 | 周 大 福 | | | | | 婚嫁 | 首页 | 全部商品 | 企业业务 | 礼品 | CTF for YOU定制 | 公开信息显示，2025年初，上述珠宝品牌足金饰品价格围绕800元/克波动。截至发稿 ...

Core Insights - International gold prices reached new highs on October 14, with COMEX gold futures and London spot gold prices breaking through $4168.4 per ounce and $4149.89 per ounce respectively, setting historical records [1] - Domestic gold jewelry prices in China have also surged, with some brands reporting prices exceeding 1200 RMB per gram [1] Price Movements - On October 14, the price of gold jewelry in Shanghai from Lao Miao was 1218 RMB per gram, an increase of 93 RMB per gram since October 1 [1] - The prices for gold from Chow Tai Fook and Luk Fook were reported at 1215 RMB per gram, up by 86 RMB per gram since October 1 [1] - Chow Sang Sang's gold jewelry was priced at 1213 RMB per gram, reflecting an increase of 83 RMB per gram since October 1 [1]

Core Insights - The forum organized by Chow Tai Fook Jewelry Group focused on the cultural significance and development of jadeite, exploring its historical context, professional foundations, cultural craftsmanship, and contemporary design [1][2][4][6][8] Group 1: Historical Context and Cultural Significance - Professor Qiu Zhili emphasized that jadeite culture is not unique to China, as it has historical traces in Europe, Central America, and Japan, but it uniquely embodies the cultural attributes of Chinese jade, becoming a cultural symbol deeply rooted in the Chinese spiritual world [2] - The discussion highlighted that jadeite transcends ordinary jewelry, carrying the connotation of "gentlemen compare virtue to jade" [2] Group 2: Industry Standards and Global Recognition - Su Jun, Director of the Technical Research Department of the Jewelry National Inspection Group, discussed the importance of unified industry standards for jadeite to break regional limitations and enter international markets [4] - A significant outcome shared was the proposal to use "Feicui" as the international standard name for jadeite at the CIBJO 2024 conference, which aims to unify global recognition and lay a foundation for cultural dissemination [4] Group 3: Craftsmanship and Cultural Expression - Zhang Hong, Executive Vice President of the China Arts and Crafts Association, discussed the cultural implications and artisan spirit behind jadeite craftsmanship, highlighting the significance of the jade carving technique recognized as a national intangible cultural heritage since 2008 [6] - The "Four Great Jadeite National Treasures," created by over 60 experts and artisans, weigh over 800 kilograms and serve as a key representation of Chinese jade craftsmanship and cultural depth [6] Group 4: Contemporary Design and International Appeal - Liu Xiaopeng, Senior Jewelry Creative Director at Chow Tai Fook, shared insights on the differences in design expression between Eastern and Western cultures regarding jadeite, emphasizing the need to balance natural color distribution and cultural connotation in design [6] - The new high-end jewelry series "Tian Yuan Di Fang" exemplifies this approach, showcasing jadeite's unique value on the international jewelry stage [8] Group 5: Future Perspectives - The forum concluded with discussions on the future of the jadeite industry, with all participants agreeing that jadeite is a vital carrier of Chinese culture on the international stage [8] - Chow Tai Fook remains committed to showcasing the beauty of Chinese culture through jewelry, promoting jadeite's unique charm globally [8]

（文章来源：新华财经） 受国际金价影响，国内金店金饰克价突破1190元。其中，周大福金价由前一日的1180元／克上调至1190 元／克；周生生金价由前一日的1176元／克上调至1188元／克；老庙黄金金价由前一日的1183元／克上 调至1189元／克。 ...

Core Viewpoint - Gold prices continue to rise, reaching a historical high, influenced by international gold prices, leading to an increase in domestic gold jewelry prices [1] Group 1: Gold Price Movement - International gold prices have led to a surge in domestic gold jewelry prices, with the price per gram exceeding 1190 yuan [1] - Chow Tai Fook increased its gold price from 1180 yuan/gram to 1190 yuan/gram [1] - Chow Sang Sang raised its gold price from 1176 yuan/gram to 1188 yuan/gram [1] - Lao Miao Gold adjusted its gold price from 1183 yuan/gram to 1189 yuan/gram [1]

Summary of Key Points from Conference Call Records Industry or Company Involved - **Wanhe Electric**: Focused on the domestic water heater market and international trade dynamics - **Haida Group**: Engaged in the feed and livestock industry - **Chow Tai Fook**: Involved in the jewelry retail sector - **Jinghong Company**: Focused on fashion retail and IP licensing - **New Australia Company**: Engaged in wool production and export - **Action Education Company**: Involved in educational services - **Babi Foods**: Engaged in the food and beverage sector - **Dongpeng Beverage**: Focused on the beverage industry - **Yuanwei**: Involved in medical supplies and equipment - **Water Sheep Co.**: Engaged in cosmetics - **Xiaoshangpin City**: Involved in small commodity trading Core Insights and Arguments Wanhe Electric - Benefiting from a turbulent international trade environment and strong domestic water heater business, with a product update cycle and space for domestic substitution - Estimated valuation around 12-13 times earnings, with governance improvements accumulating positive effects - Q3 revenue expected to show mid to high single-digit growth, with net profit growth potentially reaching 20%-40% due to low base last year [2][5] Haida Group - Q3 performance driven by feed business, with significant growth in aquaculture feed (over 20%) and pig feed (over 40%) - Overall profit expected to be between 45 to 50 billion yuan, with a focus on high growth in feed business and resilience against extreme weather [4][6][7] Chow Tai Fook - Strong performance during the National Day and Mid-Autumn Festival, with a 10% same-store sales growth in East China - Gross margin for weight-based products increased by about 10 percentage points to 30%, enhancing store profitability [8][9] Jinghong Company - Optimistic Q3 outlook with double-digit revenue growth and faster profit growth, driven by low base effects and improved performance of Teenie Weenie brand - New store monthly efficiency reached 400,000, with IP licensing businesses expected to meet annual performance guidance [10] New Australia Company - Benefiting from a rapid increase in Australian wool prices, with a projected revenue boost starting in Q4 and continuing into H1 2026 - Ongoing expansion projects in Ningxia and Vietnam expected to contribute significantly to revenue [11][12] Action Education Company - Positive Q3 fundamentals with significant growth in collections and strategic adjustments in course offerings - New customer orders outpacing old customer orders, indicating a successful recruitment strategy [13][14] Babi Foods - Anticipated Q3 revenue growth of 15% and profit growth of 20%-25%, driven by improved store performance and new product launches [18] Dongpeng Beverage - Expected Q3 revenue and profit growth of 33% and 35%, respectively, with strong sales momentum in September [19] Yuanwei - Q3 performance stable with slight growth, driven by increased production capacity and successful market transitions [20][21] Water Sheep Co. - Anticipated significant growth during the Double Eleven shopping festival, with a focus on high-end cosmetics and strategic partnerships [23][24] Xiaoshangpin City - New market opening expected to contribute significant revenue, with a projected increase in overall profits for Q3 [28][31] Other Important but Possibly Overlooked Content - Wanhe Electric's competitive advantages include strong domestic market resilience and upgraded supply chain capabilities [5] - Haida Group's nationwide layout helps mitigate extreme weather impacts, enhancing operational stability [6] - Chow Tai Fook's pricing strategy adjustments and product upgrades are key drivers of same-store sales growth [9] - Jinghong Company's focus on high-repurchase-rate brands and new store openings is crucial for future growth [10] - New Australia Company's expansion plans and market conditions indicate a favorable outlook for the wool industry [11][12] - Action Education Company's strategic regional adjustments aim to enhance operational efficiency and profitability [13] - Xiaoshangpin City's cross-border e-commerce platform offers unique market opportunities compared to competitors [29]

Industry Overview - The Chinese gold and jewelry industry primarily involves the production of jewelry and artifacts made from precious metals like gold, platinum, and silver, as well as gemstones like diamonds and jade [1] - This industry is a significant part of the consumer goods market, closely linked to disposable income, consumption upgrades, and traditional cultural sentiments [1] - China has become the world's largest consumer of gold and an important market for jewelry [1] Market Characteristics - The market has seen a strong rebound post-pandemic, with retail sales of jewelry surpassing 800 billion RMB in 2023, showing significant year-on-year growth [4] - The "ancient method gold" category has emerged as a key growth driver within the gold segment [4] - Market concentration is increasing, indicating a "stronger getting stronger" trend [5] Product Categories - Gold products include investment bars, coins, and gold jewelry, serving both investment and consumption purposes [6] - Diamond and gemstone products focus on fashion, emotional value, and collectability [6] - K-gold and platinum products target younger consumers with strong design elements [6] Consumer Behavior - Brand loyalty is highly concentrated among leading brands like Chow Tai Fook and Lao Feng Xiang, while dependency on specific materials or styles is relatively low [6] - Consumer sentiment is influenced by gold price fluctuations, leading to complex purchasing behaviors [6] - Seasonal demand, particularly around weddings and holidays, drives sales peaks [6] - Urban-rural consumption differences exist, with urban consumers favoring design and brand stories, while rural consumers prioritize gold's value retention [6] - Cultural significance of gold in China underpins stable demand [6] Competitive Landscape - Leading brands like Chow Tai Fook and China Gold continue to expand market share due to strong channel networks and brand reputation [7] - Foreign and Hong Kong brands like Tiffany and Cartier dominate the high-end market [7] - Regional and independent designer brands face competition from major brands [7] Future Trends - Product innovation and craftsmanship upgrades, such as the ongoing popularity of "ancient method gold," will continue [12] - Digitalization and omnichannel integration will become standard, enhancing user experience [12] - Sustainability and ethical sourcing will gain importance among younger consumers [12] - The lower-tier market and global expansion will be key areas of focus for leading brands [12] - Marketing strategies will shift towards emotional resonance and scenario-based marketing [12] Challenges and Opportunities - The offline retail model remains dominant, but innovative store formats are emerging [11] - Online penetration is increasing, with live-streaming and social e-commerce becoming growth drivers [11] - The younger generation (Gen Z) is becoming a significant consumer force, prioritizing design and emotional connections over material value [11] - Market risks include gold price volatility, homogenization of products, rising costs, and rapidly changing consumer preferences [12]

【导读】国际金价走高，国内品牌金饰价格飙涨，老庙黄金足金饰品报 1183 元 / 克 中国基金报记者 晨曦 黄金，又爆了！ 全球资产经历 " 惊魂夜 " ，唯有黄金 " 永不眠 " 。截至 10 月 10 日收盘，黄金现货报 4017.845 美元 / 盎司，涨 1.05% ，重回近期高位。 10 月 11 日， # 金价 # 的词条登上微博热搜榜首位，且热度持续上升。 网友纷纷表示， " 真的老后悔了 "" 以前不知黄金好 "" 太贵了买不起 " 。 = ** T : 真的老后悔了 41分钟前 : （ ）： 跌吧跌吧 43分钟前 Yar >: 大腿拍肿了,后悔以前没多买点 4分钟前 0 0 cm : 又涨了,我就是看闹热 7分钟前 | | : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : · 40分钟前 38分钟前 【 : : x : 反正不买 line 39分钟前 == 39分钟前 【 : 大贵了买不起 40分钟前 昨日，全球金融市场遭重挫，美股三大指数直线跳水，欧洲多国股市尾盘走低，原油及加密 货币 ...

全运会奖牌"同心跃"总设计师林鸿胜：融湾区精神 显匠心诚意 中新社香港10月10日电 (记者 魏华都)第十五届全国运动会(简称"十五运会")奖牌日前在香港启德零售馆 展出。奖牌总设计师、周大福珠宝集团创作总经理林鸿胜接受中新社记者采访时称，奖牌取名"同心 跃"代表粤港澳大湾区三地同心协力，共跃未来。 10月9日，为迎接第十五届全国运动会(简称"十五运会")，周大福珠宝集团在香港启德零售馆举行 十五运会媒体日预热活动，展出十五运会奖牌等展品，让民众提前感受体育盛事的炽热气氛。图为十五 运会奖牌总设计师、周大福珠宝集团创作总经理林鸿胜与十五运会奖牌合影。 中新社记者 陈永诺 摄 "极度兴奋，有些不可思议。"林鸿胜这样形容接到这项"国家级"任务时的心情，"一般而言，我们珠宝 设计师与国家大型活动的距离有点远，得到这个机会是一份荣耀。" 面对这项艰巨任务，设计团队成员丝毫未敢懈怠，从前期到设计阶段，便花了大约3个月时间，仅设计 稿就有10多个版本。过程中，林鸿胜与团队成员要在香港和广州两地来回奔走和沟通。 群众赛事活动奖牌重232克，奖牌边缘精心雕刻的66道纹路，象征着全运会66年的辉煌历史，挂扣采用 港珠澳大桥同心 ...

Core Insights - The sales performance of gold and jewelry stores during the 2025 Golden Week exceeded expectations, primarily driven by strong consumer spending in economically developed regions such as the Yangtze River Delta and parts of Anhui and Shandong [1][3] - Among the major brands, Chao Hong Ji showed the most significant growth at approximately 30%, while Lao Feng Xiang and China Gold maintained steady growth at around 15%, and Chow Tai Fook experienced moderate growth of about 5% [1][3] Group 1 - The 2025 Golden Week sales were primarily concentrated in economically developed areas, leading to higher consumer spending and acceptance of fixed-price gold jewelry [1][3] - Chao Hong Ji's innovative design and flexible marketing strategies contributed to its leading growth among the four major brands [3][4] - The overall sales during the Golden Week saw a positive year-on-year growth, with an increase in average transaction value being the main driver [1][3] Group 2 - The proportion of fixed-price products is increasing across brands to balance profit pressures and optimize profit structures, with Chao Hong Ji having about 60-70% of its products at fixed prices [4] - Chow Tai Fook is transitioning from a weight-based product strategy to a profit-oriented approach, planning to close around 10 underperforming stores while enhancing its fixed-price product offerings [4][5] - Chao Hong Ji plans to continue its expansion with an expected addition of 10-20 new stores, focusing on shopping centers and younger consumers [4][5] Group 3 - There are significant differences in single-store sales volumes among brands, with Lao Feng Xiang leading at approximately 18 million, followed by Chow Tai Fook at over 15 million [5] - Chao Hong Ji employs a refined replenishment mechanism based on sales data from its top 50 franchisees, resulting in higher inventory turnover efficiency [5] - The inventory management strategies vary, with Chow Tai Fook primarily using a consignment model, while Lao Feng Xiang and China Gold follow more traditional models [5] Group 4 - The sales performance in the first three quarters of 2025 showed a fluctuation of approximately 10%/-5%/15%, indicating a structural divergence in brand performance [6] - The industry is expected to continue experiencing structural differentiation, with Chao Hong Ji accelerating its expansion and Chow Tai Fook focusing on profit recovery and structural optimization [6] - Future competition in the industry will likely center on product innovation, brand rejuvenation, and improving channel efficiency [6]