老凤祥股份有限公司 关于对立信会计师事务所（特殊普通合伙）2024 年 度履职情况评估报告 2024 年度，老凤祥股份有限公司（以下简称"公司"）聘请立信会计 师事务所（特殊普通合伙）（以下简称"立信所"）作为公司 2024 年度财 务及内部控制审计机构。根据财政部、国资委及证监会颁布的《国有企业、 上市公司选聘会计师事务所管理办法》，公司对立信所 2024 年审计过程中 的履职情况进行评估。经评估，公司认为立信所资质等方面合规有效，履 职能够保持独立性，勤勉尽责，公允表达意见。具体情况如下： 一、资质条件 （一）会计师事务所基本情况 立信所于 1927 年在上海创建，1986 年复办，2010 年成为全国首家完成 改制的特殊普通合伙制会计师事务所，注册地址为上海市，首席合伙人为 朱建弟先生。立信所是国际会计网络 BDO 的成员所，长期从事证券服务业 务，新证券法实施前具有证券、期货业务许可证，具有 H 股审计资格，并 已向美国公众公司会计监督委员会（PCAOB）注册登记。 截至 2024 年末，立信拥有合伙人 296 名、注册会计师 2,498 名、从业 人员总数 10,021 名，签署过证券服务业务审计报 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 17,521,314,390.34, a decrease of 31.64% compared to CNY 25,629,817,893.74 in the same period last year[5] - Net profit attributable to shareholders was CNY 613,046,259.08, down 23.55% from CNY 801,894,481.24 year-on-year[5] - Basic earnings per share decreased to CNY 1.1719, a decline of 23.55% compared to CNY 1.5329 in the previous year[6] - Total revenue for Q1 2025 was CNY 17.52 billion, a decrease of 31.6% compared to CNY 25.63 billion in Q1 2024[20] - Net profit for Q1 2025 was CNY 804.38 million, a decline of 23.6% from CNY 1.05 billion in Q1 2024[20] Assets and Liabilities - The company's total assets increased by 28.81% to CNY 29,280,356,584.70 from CNY 22,731,142,401.49 at the end of the previous year[6] - Total assets increased to CNY 29.28 billion in 2025 from CNY 22.73 billion in 2024, representing a growth of 28.8%[17] - Total liabilities rose to CNY 13.72 billion in 2025, up from CNY 7.98 billion in 2024, indicating a 72.5% increase[17] - Non-current assets totaled CNY 1.29 billion in 2025, compared to CNY 1.22 billion in 2024, marking a growth of 6.0%[17] Cash Flow - Cash flow from operating activities was CNY 3,548,291,665.79, a decrease of 13.06% from CNY 4,081,339,876.11 in the same period last year[5] - In Q1 2025, the net cash flow from operating activities was CNY 3,548,291,665.79, a decrease of 13.04% compared to CNY 4,081,339,876.11 in Q1 2024[23] - Total cash inflow from operating activities in Q1 2025 was CNY 18,763,161,782.61, down from CNY 27,363,963,176.12 in Q1 2024, reflecting a decline of 31.66%[23] - Cash outflow from operating activities in Q1 2025 was CNY 15,214,870,116.82, compared to CNY 23,282,623,300.01 in Q1 2024, indicating a decrease of 34.61%[23] - The net cash flow from investing activities was -CNY 64,153,096.06 in Q1 2025, an improvement from -CNY 147,053,672.65 in Q1 2024[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,254[11] - The largest shareholder, Shanghai Huangpu District State-owned Assets Supervision and Administration Commission, holds 42.09% of the shares, totaling 220,171,793 shares[11] Expenses and Costs - The company experienced a 32.15% decrease in operating costs, amounting to a reduction of CNY 7,550,403,175.36, in line with the decrease in operating revenue[8] - The company's sales expenses decreased by 33.48%, amounting to a reduction of ¥107,395,855.81 compared to the same period last year[9] - Research and development expenses fell by 40.28%, with a decrease of ¥3,816,212.16 attributed to reduced spending by a subsidiary[9] Other Financial Metrics - The weighted average return on equity decreased by 1.91 percentage points to 4.79% from 6.70%[6] - The company reported a net loss from non-operating income of CNY 30,611,595.13, influenced by various non-recurring items[7] - Credit impairment losses decreased by 56.76%, resulting in a reduction of ¥35,803,535.34 compared to the previous year[9] - Asset disposal income saw a significant decline of 99.13%, with a decrease of ¥4,341,158.04 due to reduced relocation income from a subsidiary[9] - The fair value change income increased by 218.25%, with an increase of ¥26,301,229.67, primarily due to gains from financial liabilities[9] Future Strategy - The company plans to focus on new product development and market expansion as part of its future strategy[20]

Financial Performance - The company's operating revenue for 2024 was CNY 56,792,876,456.39, a decrease of 20.50% compared to CNY 71,435,641,416.14 in 2023[21] - The net profit attributable to shareholders for 2024 was CNY 1,949,801,688.80, down 11.95% from CNY 2,214,395,285.15 in 2023[21] - The total profit for 2024 was 3.418 billion yuan, down 14.10% year-on-year[41] - The basic earnings per share for 2024 were CNY 3.7273, reflecting a decrease of 11.95% compared to CNY 4.2331 in 2023[22] - The weighted average return on equity for 2024 was 16.20%, down 4.33 percentage points from 20.53% in 2023[22] - The net cash flow from operating activities decreased by 59.25% to CNY 2,938,650,017.71 from CNY 7,211,579,960.46 in the previous year[21] - The company's net cash flow from operating activities in Q1 2024 was CNY 4.08 billion, indicating strong cash generation capabilities[24] - The total assets at the end of 2024 were CNY 22,731,142,401.49, a decline of 6.59% from CNY 24,333,847,842.95 in 2023[21] Market and Sales - The total gold consumption in China for 2024 was 985.31 tons, a decrease of 9.58% compared to 2023, with gold jewelry consumption dropping by 24.69%[32] - Domestic sales accounted for ¥56,010,602,322.21, reflecting a decrease of 20.80% year-on-year[56] - The retail sales of gold and jewelry in China decreased by 3.1% year-on-year, with total gold consumption down 9.58% compared to the previous year[77] - The core jewelry segment, represented by the "Lao Feng Xiang" brand, accounted for 99.36% of the company's total revenue in 2024[33] - The company reduced its marketing network by 156 outlets in 2024, ending the year with 5,838 marketing points, including 16 overseas[35] Product Development and Innovation - The company upgraded its product processing technology and expanded its CNC workshop, improving product precision and completing the design and development of over 1,000 new products[42] - The company launched several new product themes, including "Treasure Gold" and "Baroque Garden," with a focus on original design and innovation, resulting in 186 patent applications and 34 invention patents by the end of 2024[44] - The company is advancing smart manufacturing initiatives, with six factories piloting cloud intelligent manufacturing projects to enhance operational efficiency[42] - The company aims to enhance product quality and added value through continuous innovation in processing technology[42] Governance and Compliance - The company has implemented a comprehensive managerial reform, achieving full coverage of the professional manager system across 37 subsidiaries and 3 independent accounting departments by the end of 2024[41] - The company focused on enhancing compliance and governance structures, establishing a compliance management committee and revising internal regulations to align with new legal requirements[48] - The governance structure is aligned with the requirements of the Company Law and regulations from the China Securities Regulatory Commission[100] - The company has not faced any penalties from securities regulatory authorities in the past three years[116] Environmental and Social Responsibility - The company is committed to ecological and environmental protection, reducing energy consumption and hazardous materials usage[42] - The company invested 158.438 million yuan in environmental protection during the reporting period[146] - The company reduced carbon emissions by 8,458.63 tons through various measures, including the adoption of new equipment and technologies[148] - The company donated a total of 50.53 million yuan for public welfare projects, including 50 million yuan for military support and 0.53 million yuan for educational supplies[152] Talent Management - The company has implemented various channels for talent development, including cross-appointment and project-based roles, to foster a supportive environment for young talent[96] - The company plans to enhance the talent pool by implementing the "Talent Strong Enterprise" strategy and the "Fengxiang Plan" for young talent development in 2025[96] - The company has established performance assessment and profit-sharing mechanisms to enhance employee motivation and engagement[96] - The company has a total of 70 research and development personnel, reflecting its commitment to innovation[128] Shareholder and Dividend Information - The company plans to distribute a dividend of CNY 1.72 per share, totaling CNY 899,762,554.08 based on a total share capital of 523,117,764 shares[6] - The company implemented a cash dividend policy, distributing a cash dividend of CNY 1.95 per share for the year 2023, totaling CNY 1,020,079,639.80 (including tax) based on a total share capital of 523,117,764 shares[132] - For the year 2024, the proposed cash dividend is CNY 1.72 per share, amounting to CNY 899,762,554.08 (including tax), which represents 46.15% of the net profit attributable to shareholders[133] Audit and Financial Reporting - The audit report confirms that the financial statements fairly represent the company's financial position as of December 31, 2024[186] - The company has complied with all relevant accounting standards, ensuring transparency and accuracy in financial reporting[187] - No significant audit issues were identified, indicating a clean audit opinion for the financial year[188] - The company has implemented various audit procedures to ensure the accuracy of revenue recognition and inventory valuation[190] Future Outlook and Strategic Initiatives - The company aims for a total revenue of 49 billion CNY and a net profit of 1.47 billion CNY for 2025[88] - The company plans to optimize its market layout, focusing on increasing market share in key regions such as Guangdong-Hong Kong-Macau and Northeast China[89] - The company is committed to digital transformation to improve operational efficiency and resource integration[94] - The company has outlined its future outlook, emphasizing a commitment to market expansion and innovation[108]

股票简称：老凤祥 股票代码：600612 编号：临 2025-011 老凤祥 B 900905 老凤祥股份有限公司 第十一届监事会第十五次会议决议公告 本公司监事会及全体监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个别及连带责任。 老凤祥股份有限公司（以下简称"公司"）第十一届监事会于 2025 年 4 月 28 日召开了第十五次会议。出席会议的监事应到 3 名，实到 3 名。会议由监事 会副主席陈漪主持，本次会议符合《公司法》及《公司章程》的规定。与会监事 审议并一致通过以下议案： 一、《公司 2024 年度监事会工作报告》 表决情况：3 票同意、0 票反对、0 票弃权通过了该议案。 该议案需提请 2024 年年度股东大会审议批准。 二、《公司 2024 年年度报告正文及摘要》 监事会认为：本次计提、核销、转回各项减值准备符合相关法律法规及会计 政策的规定，能够准确反映公司财务信息。同意《关于 2024 年度计提信用减值 损失和资产减值损失的议案》。 详细内容请参考同日登载在上海证券交易所网站（www.sse.com.cn）及指定 信息披露媒体上的《 ...

股票简称：老凤祥 股票代码：600612 编号：临 2025-010 老凤祥 B 900905 老凤祥股份有限公司 第十一届董事会第十五次会议决议公告 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个别及连带责任。 老凤祥股份有限公司（以下简称"公司"）于 2025 年 4 月 18 日向全体董事 发出书面会议通知，并在 2025 年 4 月 28 日如期召开了第十一届董事会第十五次 会议。出席会议的非独立董事和独立董事应到 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，公司监事及高管列席会议。本次 会议的召开及程序符合《公司法》及《公司章程》的规定。会议审议并通过了以 下议案： 一、《公司 2024 年度董事会工作报告》 表决情况：9 票同意、0 票反对、0 票弃权通过了该议案。 该议案需提请 2024 年年度股东大会审议批准。 二、《公司 2024 年年度报告正文及摘要》 表决情况：9 票同意、0 票反对、0 票弃权通过了该议案。 本议案经董事会审计委员会审议通过，并同意提交公司董事会审议。 ...

老凤祥股份有限公司 关于 2025 年度中期分红安排的公告 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个别及连带责任。 为提高分红频次，积极回报股东，与投资人共享公司经营成果，老凤祥股份 有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开了第十一届董事会第十 五次会议、第十一届监事会第十五次会议，会议审议通过了《关于 2025 年度中 期分红安排的议案》。根据《中华人民共和国公司法》《中华人民共和国证券法》、 《上市公司监管指引第 3 号——上市公司现金分红》（以下简称"《现金分红指 引》"）《上海证券交易所股票上市规则》《上海证券交易所上市公司自律监管 指引第 1 号——规范运作（以下简称"《规范运作指引》"）》等法律、法规、 规范性文件和《公司章程》的有关规定，公司拟定了 2025 年度中期分红安排， 具体如下： 一、中期分红条件 （一）符合中国证监会《现金分红指引》等相关规则对于上市公司利润分配 的要求；符合国资委国有资本收益上缴相关规定要求；符合公司的长远可持续发 展要求； （二）公司利润分配不得超过累计可供 ...

股票简称：老凤祥 股票代码：600612 编号：临 2025-013 老凤祥 B 900905 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个别及连带责任。 重要内容提示： 每股分配比例：老凤祥股份有限公司（以下简称"公司"）每股派发现 金红利 1.72 元（含税），其中公司 A 股每股派发现金红利 1.72 元（含税），B 股每股派发现金红利按照公司 2024 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。本年度公司不进行送股和资本公积转增股 本。 本次利润分配拟以公司 2024 年 12 月 31 日登记的总股本为基数，具体日 期将在权益分派实施公告中明确。 在实施权益分派的股权登记日前公司总股本如发生变动的，拟维持分配 总额不变，相应调整每股分红比例，并将另行公告具体调整情况。 本次利润分配不触及《上海证券交易所股票上市规则》（2024 年 4 月修 订）（以下简称"《股票上市规则》"）第 9.8.1 条第一款第（八）项规定的可 能被实施其他风险警示的情形。 一、利润分配方案内容 老凤祥股份有限公司 ...

老凤祥（600612）公告，2025年第一季度营收为175.21亿元，同比下降31.64%；净利润为6.13亿元，同 比下降23.55%。 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The retail sector is experiencing a rise in emotional consumption trends, with leading retail companies actively transforming through quality retail, cross-border trendy play, and co-branding with fashion IPs, which is expected to lead to performance recovery and valuation revaluation in the long term [4][30] - The report highlights the ongoing disclosure of annual and quarterly reports, indicating that high-quality companies in high-prosperity sectors are worth monitoring [4][27] - The retail index has shown a slight increase of 0.07% recently, but has decreased by 5.00% since the beginning of 2025, underperforming the broader market [6][15] Summary by Sections Retail Market Review - The retail index closed at 2127.02 points, with a weekly increase of 0.07%, ranking 24th among 31 primary industries [6][15] - The supermarket sector showed the largest increase this week, while the watch and jewelry sector has led the gains since the beginning of 2025 [18][21] Retail Insights: Focus on Beauty Care, Gold Jewelry, and Traditional Retail - The report emphasizes the performance divergence among companies in the cosmetics, medical beauty, gold jewelry, and traditional retail sectors, with a positive outlook for quality companies in the retail sector due to the recovery of consumer demand [27][30] - Key companies such as Yonghui Supermarket and Aiying Room are highlighted for their proactive transformation and potential for performance recovery [41][42] Key Company Performances - Proya achieved a 28.9% increase in net profit in Q1 2025, supported by a series of new product launches [47] - Yonghui Supermarket reported a revenue of 174.79 billion yuan in Q1 2025, down 19.3% year-on-year, but is undergoing significant store renovations [30][46] - The report suggests focusing on companies with strong growth potential in high-prosperity segments, including Proya, Aiying Room, and gold jewelry brands like Laopu Gold and Chaohongji [44][42]

具体各大品牌金店最新价格见下表格： 今日金价 单位 变动幅度 涨跌 老庙黄金价格 4月24日国内金价快报：各大金店价格继续小幅下滑，但每克还是稳稳站在1000元以上，价格还是很 高。周大福等金店今天又降了17元/克，最新标价1038元/克，还是最贵的金店。菜百黄金保持1015元/克 没变，依旧是最低价金店。今日金店黄金价差23元/克，价差继续缩小。 1031 元/克 21 跌 六福黄金价格 1038 元/克 17 跌 周大福黄金价格 跌 周六福黄金价格 1038 元/克 17 跌 今日金店黄金价格一览（2025年4月24日） 金店报价 金至尊黄金价格 1038 元/克 17 1038 元/克 17 跌 老凤祥黄金价格 1035 元/克 15 跌 潮宏基黄金价格 1038 元/克 17 跌 周生生黄金价格 1035 元/克 13 跌 菜百黄金价格 1015 元/克 元/克 17 0 平 上海中国黄金价格 1019 元/克 0 平 周大生黄金价格 1038 跌 在关注黄金走势之余，再让我们来看一下铂金价格。还是以周大福为例，其铂金饰品最新报价为403元/ 克，较昨日上调5元，形成与黄金价格"一涨一跌"的逆向波动格 ...