Financial Performance - The company's operating revenue for the first half of 2020 was ¥26,487,015,614.16, a decrease of 5.76% compared to ¥28,105,030,188.00 in the same period last year[13]. - The net profit attributable to shareholders of the listed company was ¥740,855,100.01, showing a slight increase of 0.24% from ¥739,115,032.04 in the previous year[13]. - The total profit for the first half of 2020 was 1.323 billion RMB, meeting 51.98% of the board's target of 2.545 billion RMB, an increase of 0.99% year-on-year[17]. - The company's revenue for the first half of 2020 reached 26.487 billion RMB, achieving 50.45% of the board's target of 52.5 billion RMB, a decrease of 5.76% compared to the same period in 2019[17]. - The basic earnings per share for the first half of 2020 were ¥1.4162, a slight increase of 0.24% from ¥1.4129 in the same period last year[14]. - The net profit attributable to the listed company was 741 million RMB, achieving 51.61% of the board's target of 1.435 billion RMB, with a year-on-year increase of 0.27%[17]. - The total comprehensive income for the first half of 2020 was CNY 960,472,999.94, a decrease from CNY 966,453,098.05 in the same period of 2019[79]. - The company reported a net profit of CNY 962,577,840.01, down from CNY 973,101,726.43 in the previous year, reflecting a decrease of 1.5%[78]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 85.83%, reaching ¥4,377,734,289.02 compared to ¥2,355,830,863.55 in the same period last year[13]. - The company's cash and cash equivalents at the end of the period were ¥7,887,799,201.74, representing 43.49% of total assets, an increase of 82.58% from ¥4,320,187,328.00 at the end of the previous year[28]. - The net cash flow from operating activities was 4,377,734,289.02 RMB, an increase from 2,355,830,863.55 RMB in the previous period, reflecting a significant improvement[84]. - The total cash inflow from operating activities amounted to 28,537,693,184.09 RMB, compared to 31,457,221,942.72 RMB in the prior period, indicating a decrease of approximately 9%[84]. - The total cash and cash equivalents at the end of the period were 7,878,342,964.35 RMB, a decrease from 7,967,513,384.14 RMB[85]. - The net increase in cash and cash equivalents was 3,568,155,902.19 RMB, compared to 3,227,941,727.98 RMB in the previous period, indicating a growth of approximately 10.6%[85]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥18,138,125,383.51, reflecting a growth of 5.57% from ¥17,180,999,962.74 at the end of the previous year[13]. - The total liabilities as of June 30, 2020, were ¥9,092,430,790.57, compared to ¥8,840,008,238.56 at the end of 2019, marking an increase of about 2.85%[71]. - The company's inventory decreased to ¥7,986,230,626.66 from ¥11,405,032,386.18, showing a decline of approximately 30.88%[70]. - The accounts receivable increased by 158.23% to ¥959,630,717.24, compared to ¥371,612,350.01 at the end of the previous year[28]. - The company's total liabilities amounted to ¥8,840,008,238.56, with current liabilities at ¥7,700,057,935.41[189]. Investments and Subsidiaries - The company has a total of 3,991 marketing outlets as of June 30, 2020, including 19 overseas stores, with a net increase of 98 outlets in the first half of the year[18]. - The company has invested in two design and production bases, enhancing production efficiency and quality through advanced automation technology[19]. - The company has a total of 58 subsidiaries included in the consolidated financial statements as of June 30, 2020[105]. - The company has subsidiaries benefiting from a 20% corporate income tax rate, while the subsidiary in Dongguan enjoys a reduced rate of 15% due to its high-tech enterprise status[195]. Social Responsibility and Community Engagement - The company donated 3 million RMB to support the fight against COVID-19 in Wuhan, demonstrating its commitment to social responsibility[21]. - The company launched a limited edition "Angel Wings" commemorative brooch for healthcare workers, combining traditional craftsmanship with modern technology, with 1,650 pieces produced[21]. - The company invested RMB 286 thousand in poverty alleviation efforts during the reporting period[58]. - The company initiated one industrial poverty alleviation project with an investment of RMB 240 thousand[59]. Risks and Challenges - The company faces risks from macroeconomic uncertainties, including the impact of COVID-19 on consumer markets and slowing growth in the gold and jewelry sector[42]. - Fluctuations in gold prices and exchange rates pose significant risks, as the majority of sales come from gold products[42]. - Inventory management risks arise from the volatility in prices of gold, platinum, silver, diamonds, and other raw materials[43]. Governance and Compliance - The company continues to engage the same accounting firm for financial and internal control audits for 2020[51]. - The company has not disclosed any plans for new products or technologies in this report[3]. - The company has not proposed any profit distribution or capital reserve transfer for the half-year period[46]. - The company has no significant litigation or arbitration matters during the reporting period[52]. - The company has not reported any significant doubts regarding its ability to continue as a going concern[107]. Accounting Policies and Standards - The company implemented the new revenue recognition standards starting January 1, 2020, as mandated by the Ministry of Finance, which required adjustments to the opening balances[61]. - The company has maintained a consistent approach to its financial strategies, with no major changes in accounting policies reported[102]. - The company recognizes expected credit losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income[127]. - The company applies fair value measurement for remaining equity interests when control is lost, impacting investment income and goodwill[115].

公司代码：600612 900905 公司简称：老凤祥 老凤祥 B 老凤祥股份有限公司 2018 年第三季度报告 1 / 24 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 2018 年第三季度报告 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人石力华、主管会计工作负责人黄骅及会计机构负责人（会计主管人员）朱晓雯保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 24 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 16,509,493,583.46 13,424,051,601.52 22.98 归属于上市 ...

2018 年半年度报告 公司代码：600612 900905 公司简称：老凤祥老凤祥 B 老凤祥股份有限公司 2018 年半年度报告 1 / 163 2018 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人石力华、主管会计工作负责人黄骅及会计机构负责人（会计主管人员）朱晓 雯声明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 □适用 √不适用 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 2018 年半年度报告 第一节 释义 不适用 十、 其他 □适用 √不适用 2 / 163 | 第一节 | 释义 4 | | --- | --- | | 第二节 | 公司简介和主要财务指标 4 | | 第三节 | 公司业务概要 6 ...

2018 年第一季度报告 2018 年第一季度报告 一、 重要提示 公司代码：600612 900905 公司简称：老凤祥老凤祥 B 老凤祥股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 二、 公司基本情况 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 2018 年第一季度报告 单位：股 | 股东总数（户） | | | | | | 36,416 | | --- | --- | --- | --- | --- | --- | --- | | | | 前十名股东持股情况 | | | | | | 股东名称（全称） | 期末持股 | 比例 | 持有有限售 | 质押或冻结情况 | | 股东性质 | | 数量 | | (%) | 条件股份数 | 股份状态 | 数量 | | | | | | 量 | | | | | 上海市黄浦区国有资产 | 220,171,793 | 42.09 | 0 | 无 | 0 | 国家 | | 监督管理委员会 | | | ...

Financial Performance - The company's operating revenue for 2017 was CNY 39,810,354,440.20, representing a year-on-year increase of 13.86% compared to CNY 34,963,775,085.10 in 2016[21] - The net profit attributable to shareholders of the listed company was CNY 1,136,195,994.58, an increase of 7.44% from CNY 1,057,486,582.70 in the previous year[21] - The total assets at the end of 2017 were CNY 13,424,051,601.52, a decrease of 4.50% from CNY 14,056,131,961.50 in 2016[22] - The net assets attributable to shareholders of the listed company increased to CNY 5,607,412,765.10, up 10.79% from CNY 5,061,431,452.89 in 2016[22] - Basic earnings per share for 2017 were CNY 2.1720, reflecting a 7.44% increase from CNY 2.0215 in 2016[23] - The weighted average return on equity for 2017 was 21.13%, a decrease of 0.70 percentage points from 21.83% in 2016[23] - The company reported a net cash flow from operating activities of CNY 1,248,249,647.60, compared to a negative cash flow of CNY -978,589,266.91 in the previous year[22] - The total profit for 2017 was CNY 1.965 billion, surpassing the board's target of CNY 1.913 billion by 2.72%, and showing a 7.85% increase from CNY 1.822 billion in 2016[43] Revenue and Sales - In Q1, the company reported revenue of approximately ¥12.96 billion, with net profit attributable to shareholders at ¥310.86 million[26] - In Q2, revenue decreased to approximately ¥9.93 billion, with net profit attributable to shareholders at ¥271.73 million[26] - In Q3, revenue slightly increased to approximately ¥10.07 billion, with net profit attributable to shareholders at ¥314.28 million[26] - In Q4, revenue further declined to approximately ¥6.84 billion, with net profit attributable to shareholders at ¥239.32 million[26] - The core business, represented by the "Lao Feng Xiang" brand, accounted for 98.82% of total revenue and 91.36% of total profit in 2017[33] - The wholesale business achieved a growth rate of 18.41%, with total sales reaching CNY 28.812 billion, contributing significantly to the overall targets[44] - The company launched over 2,000 new products, achieving sales revenue of 9.688 billion yuan, a year-on-year increase of 22.47%[45] - The sales of non-gold jewelry reached 5.916 billion yuan, an increase of 1.158 billion yuan or 24.34% year-on-year[45] Market Position and Competition - The company faced increased competition in the jewelry market, with a trend towards product diversification[33] - In 2017, the company ranked 13th among Shanghai's top manufacturing enterprises and 13th in the global luxury goods sector[35] - The jewelry market is transitioning from rapid growth to a high-quality development phase, with increasing industry concentration[93] - The trend of asset securitization and capitalization in the jewelry industry is strengthening, with many companies successfully listed on various stock markets[94] Product Development and Innovation - The company launched new product categories, including watches, maintaining an annual product update rate of over 26%[38] - The company has a total of 66 patents, including 3 invention patents, and has been recognized as a high-tech enterprise[38] - The company is focusing on brand protection and intellectual property rights to combat counterfeiting and price competition in the jewelry sector[95] - The company anticipates that the future development model of the jewelry industry will shift towards quality and efficiency rather than mere quantity[94] Cash Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 10.50 per 10 shares, totaling CNY 549,273,652.20, based on the total share capital as of December 31, 2017[5] - The company plans to distribute a cash dividend of RMB 1.05 per share for 2017, representing 48.34% of the net profit attributable to shareholders[108] - For the year 2017, the total cash dividend amount is RMB 549,273,652.20, based on a total share capital of 523,117,764 shares[110] Risks and Challenges - The company has outlined various risks in its annual report, which investors are advised to pay attention to[7] - The company faces risks from macroeconomic conditions, including global economic recovery challenges and fluctuations in gold prices and exchange rates[104] Corporate Governance and Management - The company has appointed Zhonghua Accounting Firm (Special General Partnership) as its auditor, with an audit fee of ¥180,000[119] - The company has a structured internal salary system based on positions and performance targets[161] - The company has implemented a performance-based salary system to attract and retain talent, ensuring alignment with overall strategic goals[167] - The current board and supervisory committee were elected on June 16, 2017, with a term from June 16, 2017, to June 15, 2020[163] Social Responsibility and Community Engagement - The company has established a partnership with local communities for targeted poverty alleviation, contributing CNY 300,000 for the establishment of an entrepreneurship base[133] - The total assistance fund for poverty alleviation amounted to CNY 30,000, with individual support for students at CNY 1,000 per year and for other vulnerable groups at CNY 1,200 per year[134] - The company emphasizes the importance of balancing economic and social benefits, aiming for harmonious development with society and the environment[137]

| 目录 | | --- | 2017 年第三季度报告 公司代码：600612 公司简称：老凤祥 老凤祥股份有限公司 2017 年第三季度报告 1 / 23 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2017 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人石力华、主管会计工作负责人黄骅及会计机构负责人（会计主管人员）朱晓雯保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 23 2.2 截止报告期末的股东总数、前十名股东、前十名流通股东（或无限售条件股东）持股情况表 单位：股 4 / 23 2017 年第三季度报告 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 ...

2017 年半年度报告 公司代码：600612 900905 公司简称：老凤祥 老凤祥 B 老凤祥股份有限公司 2017 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 □适用 √不适用 否 九、 重大风险提示 不适用 十、 其他 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人石力华、主管会计工作负责人黄骅及会计机构负责人（会计主管人员）朱晓 雯声明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ | 第一节 | 释义 3 | | --- | --- | | 第二节 | 公司简介和主要财务指标 3 | | 第三节 | 公司业务概要 5 | | 第四节 | 经营情况的讨论与分析 6 | | 第五节 | 重要事项 17 | | 第六节 | 普通股 ...

2016 年年度报告 公司代码：600612 900905 公司简称：老凤祥 老凤祥 B 老凤祥股份有限公司 2016 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 众华会计师事务所为本公司出具了标准无保留意见的审计报告。 四、 公司负责人石力华、主管会计工作负责人黄骅及会计机构负责人（会计主管人员）朱晓 雯声明：保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 拟以2016年12月31日总股本523117764股为基数，向全体股东每10股派发红利10.00元(含税) ，总金额为523117764.00元 (B股红利按2016年度股东大会决议日下一工作日中国人民银行公布的 美元兑换人民币中间价折算)。派发后公司未分配利润余额为322182272.86元，结转下一年度。本 年度不进行资本公积金转增股本。该预案尚需股东大会审议批准。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中 ...

1 / 18 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 7 | 2017 年第一季度报告 二、 公司基本情况 2017 年第一季度报告 公司代码：600612 900905 公司简称：老凤祥 老凤祥 B 老凤祥股份有限公司 2017 年第一季度报告 一、 重要提示 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 3 / 18 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 13,988,508,828.19 14,056,131,961.50 -0.48 归属于上市公司 股东的净资产 5,356,165,706.29 5,061,431,452.89 5.82 年初至报告期末 上年初至上年报告期末 比上年同期增减(%) 经营活动产生的 现金流量净额 234,575,275.80 -2,243,844,677.42 110.45 年初至报告期末 上年初至上年报告期末 比上年同期增减（%） 营业收入 1 ...