Core Insights - The company reported a revenue of 14.646 billion yuan for Q3 2025, marking a year-on-year increase of 16.03% [2] - Net profit attributable to shareholders decreased to 217 million yuan, a decline of 41.61% year-on-year [2] - Basic earnings per share (EPS) for Q3 2025 stood at 0.4153 yuan [2] Financial Performance - For the first three quarters, the company achieved a total revenue of 48.001 billion yuan, reflecting a year-on-year decrease of 8.71% [2] - Net profit attributable to shareholders for the first three quarters was 1.438 billion yuan, down 19.05% year-on-year [2] - Basic earnings per share (EPS) for the first three quarters was reported at 2.748 yuan [2]

Core Insights - The company reported a total operating revenue of 48.001 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 8.71% [1] - The net profit attributable to shareholders of the parent company was 1.438 billion yuan, down 19.05% year-on-year [1] - The basic earnings per share stood at 2.748 yuan [1]

Core Points - The company reported a revenue of 14.646 billion yuan for Q3 2025, representing a year-on-year growth of 16.03% [1] - The net profit attributable to shareholders for Q3 2025 was 217 million yuan, showing a year-on-year decline of 41.61% [1] - For the first three quarters of 2025, the company achieved a total revenue of 48.001 billion yuan, which is a year-on-year decrease of 8.71% [1] - The net profit attributable to shareholders for the first three quarters was 1.438 billion yuan, down 19.05% year-on-year [1] - The basic earnings per share for Q3 2025 was 0.4153 yuan, while for the first three quarters it was 2.748 yuan [1]

老凤祥股份有限公司（以下简称"公司"）于 2025 年 10 月 20 日向全体董事 发出会议通知，并在 2025 年 10 月 29 日如期召开了第十一届董事会第二十一次 会议。出席会议的董事应到 9 名，实到 9 名（其中独立董事应到 3 名，实到 3 名）。会议由杨奕董事长主持，公司高管列席会议。本次会议的召开及程序符合 《公司法》及《公司章程》的规定。与会董事审议并一致通过以下决议： 股票简称：老凤祥 股票代码：600612 编号：临 2025-049 老凤祥 B 900905 老凤祥股份有限公司 第十一届董事会第二十一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 表决情况：9 票同意、0 票反对、0 票弃权通过了该议案。 在本次修订中，将原"董事会战略委员会"更名为"董事会战略与可持续发 展委员会"。同时根据《上海证券交易所上市公司自律监管指南第 4 号——可持 续发展报告编制》，新增并规范了委员会关于 ESG 的职责权限。具体内容详见公 司于同日在上海证券交易所网站(www.sse.com.cn) ...

老凤祥股份有限公司 董事会战略与可持续发展委员会实施细则 （2025年10月修订） 第五条 战略与可持续发展委员会设主任委员一名，负责主持委 员会工作；主任委员由公司董事长担任。 第六条 战略与可持续发展委员会委员的任期与董事会任期一致。 委员任期届满，连选可以连任。期间如有委员不再担任公司董事职 务，自动失去委员资格，并由委员会根据上述第三至第五条规定补 足委员人数。 第七条 公司负责战略投资、科技创新及ESG工作的部门及人员 应当为战略与可持续发展委员会提供专业支持，负责有关资料的准 备。董事会办公室为战略与可持续发展委员会提供综合服务，负责 委员会日常工作联络、会议组织等事宜。 第三章 职责权限 第一章 总则 第一条 为适应公司战略发展需要，确定公司长远战略发展规划， 增强公司核心竞争力，健全投资决策程序，加强决策科学性，提高 重大投资决策的效益和质量，完善公司的法人治理结构，规范公司 环境、社会及治理（ESG）工作，提升公司核心竞争力和可持续发展 能力，根据《中华人民共和国公司法》《上市公司治理准则》《上 市公司独立董事管理办法》《公司章程》及其他法律法规的有关规 定，公司设立董事会战略与可持续发展委 ...

股票简称：老凤祥 股票代码：600612 编号：临 2025-050 老凤祥 B 900905 老凤祥股份有限公司 关于公司 2025 年第三季度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 老凤祥股份有限公司（以下简称"公司"）现将公司 2025 年第三季度连锁 网点变动情况及公司 2025 年前三季度主要经营数据披露如下： 一、报告期内连锁网点变动情况及 2025 年度内拟新开连锁网点预计情况 "老凤祥"品牌黄金珠宝首饰为公司的核心主业。截止 2025 年 9 月末，公 司"老凤祥"品牌共计拥有连锁营销网点达到 5,625 家。有关截至 2025 年 9 月 30 日公司连锁营销网点数具体情况如下表： | 黄金珠宝首饰 | 期初数 | | 2025 年第 | 3 季 | 2025 | 年第 3 | 季 | | 期末数 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 连锁营销网点 | 年 （2025 6 ...

Financial Performance - Total revenue for Q3 2025 reached CNY 14,645,610,096.66, an increase of 16.03% year-over-year[5] - Net profit attributable to shareholders was CNY 217,254,013.67, a decrease of 41.61% compared to the same period last year[5] - Total profit for the reporting period decreased by 36.28%, down by ¥215,303,906.42, primarily due to reduced profits from the subsidiary Shanghai Laofengxiang Co., Ltd.[10] - Net profit for the first three quarters of 2025 was CNY 1,837,925,105.30, a decline of 19.5% from CNY 2,282,336,317.49 in 2024[22] - The net profit attributable to the parent company's shareholders for the current period is approximately ¥1.44 billion, a decrease from ¥1.78 billion in the same period last year, representing a decline of about 19%[23] - The total comprehensive income attributable to the parent company's owners is approximately ¥1.44 billion, down from ¥1.78 billion, indicating a decrease of around 19%[23] Assets and Liabilities - The company's total assets increased by 9.50% to CNY 24,890,681,082.58 compared to the end of the previous year[6] - Current assets totaled CNY 23,582,231,948.61 as of September 30, 2025, compared to CNY 21,515,339,160.69 at the end of 2024, reflecting a growth of 9.6%[18] - Current liabilities increased to CNY 9,404,621,749.38 as of September 30, 2025, up from CNY 7,689,237,828.33 at the end of 2024, representing a rise of 22.3%[19] - The company's total equity attributable to shareholders increased by 2.90% to CNY 12,860,559,241.11 compared to the end of the previous year[6] - The company reported a total equity of CNY 15,122,147,421.00 as of September 30, 2025, compared to CNY 14,749,531,256.43 at the end of 2024, an increase of 2.5%[19] Cash Flow - Cash flow from operating activities decreased by 63.86% year-to-date, totaling CNY 2,365,936,870.36[5] - Operating cash flow net amount decreased by 63.86%, primarily due to a reduction in cash received from sales of goods and services[10] - The net cash flow from operating activities for the current period is approximately ¥2.37 billion, significantly lower than ¥6.55 billion in the same period last year, reflecting a decline of about 64%[27] - The total operating cash inflow for the current period is approximately ¥49.27 billion, compared to ¥56.71 billion in the previous year, indicating a decrease of about 13%[27] - The total operating cash outflow for the current period is approximately ¥46.90 billion, down from ¥50.17 billion in the same period last year, reflecting a decrease of about 6%[27] Expenses and Income - Research and development expenses decreased by 50.98%, down by ¥13,250,059.89, primarily due to reduced R&D spending by a subsidiary[10] - Research and development expenses for the first three quarters of 2025 were CNY 12,739,607.62, significantly lower than CNY 25,989,667.51 in the same period of 2024, a decrease of 51.0%[22] - Other income increased by 71.69%, with an increase of ¥146,540,202.82 attributed to government subsidies received by the company and its subsidiaries[10] - Fair value change income surged by 463.67%, increasing by ¥13,750,460.19, mainly due to gains from the fair value changes of financial assets[10] Borrowings and Financial Position - Short-term borrowings increased by 43.35%, totaling CNY 1,998,512,167.90, mainly due to a rise in borrowings from a subsidiary[9] - Long-term borrowings increased by ¥79,900,000.00, reflecting a 100% growth, primarily due to increased borrowings by a subsidiary[10] - Deferred tax liabilities rose by 91.64%, with an increase of ¥17,829,911.85, mainly due to temporary differences arising from fair value changes[10] - The company's financial expenses for the first three quarters of 2025 were CNY 122,114,923.29, slightly up from CNY 117,300,270.96 in 2024[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 45,712[13] - Basic and diluted earnings per share both fell by 41.61%, decreasing by ¥0.2959 per share[11] - The basic and diluted earnings per share for the current period are both ¥2.748, down from ¥3.395 in the same period last year, reflecting a decrease of approximately 19%[23]

Core Viewpoint - The company reported a mixed financial performance for the third quarter of 2025, with revenue growth but a significant decline in net profit [1] Financial Performance Summary - In Q3 2025, the company achieved an operating revenue of 14.646 billion yuan, representing a year-on-year increase of 16.03% [1] - The net profit attributable to shareholders was 217 million yuan, showing a year-on-year decrease of 41.61% [1] - Basic earnings per share for Q3 2025 were 0.4153 yuan [1] - For the first three quarters of 2025, the company reported an operating revenue of 48.001 billion yuan, which is a year-on-year decline of 8.71% [1] - The net profit attributable to shareholders for the first three quarters was 1.438 billion yuan, down 19.05% year-on-year [1] - Basic earnings per share for the first three quarters were 2.748 yuan [1]

Group 1 - The core point of the article is that the company, Lao Feng Xiang, reported a net profit of 217 million yuan in the third quarter, which represents a year-on-year decline of 41.61% [1] Group 2 - The decline in net profit indicates potential challenges the company may be facing in the current market environment [1]

Market Overview - The jewelry sector increased by 1.21% on October 29, with ST Xinhua Jin leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Individual Stock Performance - ST Xinhua Jin (600735) closed at 6.64, up 5.06%, with a trading volume of 463,600 shares and a turnover of 304 million yuan [1] - Lao Feng Xiang (600612) closed at 50.60, up 4.12%, with a trading volume of 52,700 shares and a turnover of 264 million yuan [1] - Zhou Dazheng (002867) closed at 66.00, up 2.04%, with a trading volume of 100,000 shares and a turnover of 138 million yuan [1] - Other notable performers include Chao Hong Ji (002345) up 1.50%, China Gold (600916) up 0.84%, and Cai Zi Co. (605599) up 0.77% [1] Capital Flow Analysis - The jewelry sector experienced a net outflow of 23.93 million yuan from institutional investors and 32.61 million yuan from speculative funds, while retail investors saw a net inflow of 56.54 million yuan [2] - Lao Feng Xiang had a significant net outflow of 51.36 million yuan from institutional investors, while Zhou Dazheng saw a net inflow of 13.76 million yuan [3] - The overall capital flow indicates a mixed sentiment among different investor types within the jewelry sector [2][3]