Industry Overview - The eVTOL (electric Vertical Take-Off and Landing) industry is experiencing significant growth, with the low-altitude logistics market in China expected to exceed 100 billion yuan in the next five years [4] - The successful sea transportation of goods using a 2-ton eVTOL named "Kai Rui Ou" marks a critical advancement in low-altitude logistics applications [4] Company Performance - eVTOL concept stocks have seen an average price increase of 17.69% this year, with Meili Technology leading with a 127.4% increase [5] - Notable companies such as Yongyue Technology, Shanhe Intelligent, Ruikeda, Zongheng Co., and Huayi Technology have all reported stock price increases exceeding 60% [5] - Beidouxingtong is expected to turn a profit with a projected net profit of approximately 1 to 1.5 million yuan, driven by demand in emerging sectors [6] - Ruikeda anticipates a significant profit increase, projecting a net profit of 151 to 171 million yuan, representing a year-on-year growth of 132.44% to 163.22% [6] Market Dynamics - The eVTOL industry is transitioning from technology validation to large-scale application, with small drones leading in commercial deployment [4] - Companies like Guanglian Aviation are establishing partnerships within the low-altitude economic industry chain to support drone development and production [5]

Group 1 - The first successful offshore material transportation using a 2-ton eVTOL named "Kai Rui Ou" marks a significant advancement in low-altitude logistics applications in China [4] - The eVTOL has a range of 200 kilometers, a maximum speed of 200 kilometers per hour, and a payload capacity of 400 kilograms [4] - The low-altitude logistics market in China is expected to exceed 100 billion yuan in the next five years, indicating strong growth potential for the industry [4] Group 2 - eVTOL concept stocks have seen an average price increase of 17.69% this year, with Meili Technology's stock rising by 127.4% [5] - Companies like Yongyue Technology, Shanhe Intelligent, and Ruikeda have also experienced significant stock price increases, all exceeding 60% [5] - Beidouxing's projected net profit for the first half of the year is estimated to be between 1 million to 1.5 million yuan, benefiting from rapid growth in emerging fields [6]

Group 1 - As of August 2, international gold prices are reported at $3362.5 per ounce, while international palladium is at $1209.9 per ounce, and international silver is at $37.0 per ounce [1] - Domestic gold prices are quoted at 776.2 yuan per gram [1] - Major domestic gold retailers have varying prices, with Chow Tai Fook at the highest price of 998 yuan per gram and China Gold at the lowest price of 969 yuan per gram [1] Group 2 - Other domestic gold prices include: Chow Sang Sang at 995 yuan per gram, Luk Fook Jewelry at 998 yuan per gram, and Xie Ruilin at 998 yuan per gram [1] - Jin Zun at 998 yuan per gram, Chao Hong Ji at 998 yuan per gram, and Cai Bai Jewelry at 975 yuan per gram [1] - Lao Miao Gold at 994 yuan per gram, Lao Feng Xiang at 996 yuan per gram, and Zhou Liu Fu at 978 yuan per gram [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 周大福珠寶集團有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 本月底法定/註冊股本總額： HKD 50,000,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01929 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | | 已發行股份總數 | | | 上月底結存 | | | 9,864,944,600 | | 422,800 | | | 9,865,367,400 | | 增加 / 減少 (-) | | | | | | | | | | ...

Core Insights - China's gold consumption in the first half of 2025 was 505.205 tons, a year-on-year decrease of 3.54% [1] - Gold jewelry consumption dropped significantly by 26.00% to 199.826 tons, while gold bar and coin consumption increased by 23.69% to 264.242 tons [1] - The price of gold has risen sharply, with Chow Tai Fook's gold price increasing from approximately 800 RMB per gram at the beginning of January to around 1000 RMB per gram by the end of July [1] Consumption Trends - The decline in gold jewelry consumption is attributed to high gold prices, although lightweight, well-designed, and high-value-added jewelry products remain popular [3] - Old Poo Gold, known for its traditional craftsmanship, reported a sales performance of 14.3 billion RMB in the first half of the year, a 252% increase year-on-year, with adjusted net profit reaching 2.36 billion RMB, up approximately 292% [3] Investment Behavior - Despite reduced jewelry consumption, there has been a significant increase in demand for gold bars and coins, driven by geopolitical tensions and economic uncertainty, highlighting gold's role as a safe-haven asset [5] - In the first half of 2025, China's gold bar and coin consumption rose by 23.69% to 264.242 tons [5] Market Strategies - Traditional gold jewelry brands are targeting younger consumers through collaborations with popular culture, such as anime and gaming, to tap into the "cultural economy" [5] - Chow Tai Fook launched a jewelry exhibition at the 2025 Bilibili World Digital Entertainment and Anime Culture Expo, showcasing collaborations with popular IPs, which have generated significant retail sales [5] Price Dynamics - The international gold price saw a substantial increase, with the London spot gold price reaching 3287.45 USD per ounce by the end of June, a 24.31% rise since the beginning of the year [8] - The average price of gold in the Shanghai Gold Exchange for the first half of 2025 was 725.28 RMB per gram, reflecting a year-on-year increase of 41.07% [8]

格隆汇7月31日｜7月行情收官，从港股市场个股表现来看，云知声、国泰君安国际和东方甄选分别涨 95.85%，86.59%和85.08%，位居涨幅榜前三；老铺黄金、周大福和奇富科技-S分别跌29.71%、23.22% 和21.72%，位居港股跌幅前三。 来源：格隆汇APP ...

Core Insights - The 15th National Games and the 12th National Paralympic Games have successfully signed sponsorship agreements with various companies, covering seven sponsorship categories, indicating strong corporate support for the events [1][3] - As of June 30, over 1 million anti-counterfeiting labels have been issued for licensed products related to the events, with a total merchandise value exceeding 79.4 million yuan, reflecting a growing market interest [1][3] Sponsorship and Partnerships - Major sponsors such as China Southern Airlines and Industrial and Commercial Bank of China have announced their cooperation plans, showcasing their professional strengths to support the events [3] - Sponsorship agreements have been signed with companies including Industrial and Commercial Bank of China, Shenzhen JingTian, Chow Tai Fook, Zhujiang Beer, Liby, and Wang Lao Ji for the National Games, and with brands like Peak Sports and Traffic Bank for the Paralympic Games [3] Licensed Products and Market Development - A total of 31 licensed production companies and 38 licensed retail companies showcased 1,170 licensed products featuring the mascots "Xi Yang Yang" and "Le Rong Rong," covering 14 categories including cultural products, clothing, and daily necessities [3] - The licensed products have been issued over 1 million anti-counterfeiting labels, covering 11 major categories and 518 varieties, with a merchandise value exceeding 79.4 million yuan, indicating a robust market response [3] - Currently, 271 licensed retail stores have been established across 15 cities in Guangdong and key areas outside the province, enhancing public access to purchase channels [3]

一场突如其来的黄金暴跌席卷了中国市场，让金价如同自由落体般直线下坠，引发了市场恐慌与热议。 今日上金所开盘价暴跌5.17元/克，跌至766.41元/ 克，创下近期新低，与昨日高点相比，跌幅触目惊心。 与之形成鲜明对比的是，伦敦现货黄金仅小跌2.13美元/盎司，报3312.31美元/盎司，国际市场显得风 平浪静，这种国内金价独跌的怪象迅速刷爆朋友圈，引发大众广泛质疑。 实体金店更是冷清得如同鬼城。周大福、周生生等一线品牌坚守高价，周大福仍维持在998元/克，周生生则降价6元至994元，打出"惊喜大促销"的旗号。而 菜百和周六福则更为激进，直接将价格下调至978元/克，比周大福低出整整20元。 铂金市场更是价格混乱，老凤祥以470元/克的价格抛售库存，而周大福则 维持在569元/克的高价，两者价格相差高达99元，导购员们为争夺顾客而争论不休。 金店门口人流稀少，即使是结婚旺季也未能刺激消费。 此前金价大幅 上涨消耗了消费者的购买热情，如今价格下跌，消费者反而选择观望，捂紧钱包。 上周的数据显示，黄金消费量已跌至三个月来的新低，许多金店的日均 客流量更是腰斩。 回收市场也经历了同样的暴跌。纯金999的回收价已跌至7 ...

Core Viewpoint - The recent decline in gold prices is influenced by U.S. President Trump's call for the Federal Reserve to lower interest rates, which could further impact market dynamics and gold demand [1][5]. Price Movements - On July 28, spot gold prices fell to $3310 per ounce, marking the first drop since July 17 [1]. - Domestic gold jewelry prices also decreased, with brands like Chow Tai Fook and Chow Sang Sang seeing reductions in their gold prices [1][2]. - As of July 29, the price of gold jewelry from various brands has fallen below 1000 yuan per gram, with specific prices reported as follows: - Chow Sang Sang: 978 yuan per gram (down 12 yuan) - Lao Feng Xiang: 998 yuan per gram (down 2 yuan) - Others remained stable or saw minor changes [2][3]. Market Trends - The global gold price saw significant increases earlier in the year due to rising geopolitical tensions, with the London spot gold price rising 24.31% year-to-date as of June 30 [3]. - The average price of gold in the first half of 2025 was reported at $3066.59 per ounce, a 39.21% increase compared to the same period last year [3]. - The Shanghai Gold Exchange reported a similar trend, with Au9999 gold closing at 764.43 yuan per gram, up 24.50% year-to-date [3]. Future Outlook - Analysts suggest that while short-term speculative demand has weakened, long-term support from central bank purchases and financial investments may sustain gold prices [5]. - There is a possibility that the Federal Reserve may lower interest rates more than expected, which could lead to a further increase in gold prices by over 10% by the end of the year [5].

7月29日国内黄金市场动态：国内品牌金店金价继续下跌，但部分金店已经有持稳迹象。其中，老凤祥黄金继续下跌2元/ 克，报价998元/克，与多家金店并列最高价金店。周六福黄金下跌12元/克，报价978元/克，与菜百黄金同为最低价金店。今 日最高与最低金店间价差扩大至20元/克。 昨日金价下跌主要还是美欧贸易协议落地，贸易紧张局势缓解，市场避险情绪削弱。不过昨日美国称本周的中美谈判，预 计无重大突破，还是限制了昨日金价的跌幅。 具体各大品牌金店最新价格见下表格： 瑞银财富旗下多资产策略师Anthi Tsouvali分析称，今年早些时候，市场对美国经济可能因高关税政策遭受冲击的担忧曾引 发美元大幅下挫；但随着贸易协议最终达成，市场情绪已回归平稳，美元的强势格局重新确立。在此背景下，黄金价格的 下行几乎成为必然趋势。 | | | 今日金店黄金价格一览(2025年7月29日) | | | | --- | --- | --- | --- | --- | | 金店报价 | 今日金价 | 单位 | 变动幅度 | 涨跌 | | 老庙黄金价格 | 995 | 元/克 | 2 | 跌 | | 六福黄金价格 | 998 | 元/克 | ...