Core Viewpoint - The rapid development of the internet has led property companies to utilize both traditional and new media platforms to create a comprehensive communication matrix, achieving boundary-less and full coverage of information dissemination [1][12]. Group 1: Brand Communication Strategies - Property companies are increasingly experimenting with new digital media channels, leveraging platforms like WeChat and Douyin to enhance brand exposure and communication reach [1][12]. - The use of personalized and practical functional modules on platforms such as WeChat public accounts and video accounts has increased the breadth of brand communication, allowing audiences to understand corporate brand concepts from multiple channels and perspectives [1][12]. Group 2: Monitoring and Research Findings - The China Index Academy conducted a monitoring study on brand communication information of property service companies for the year 2025, focusing on WeChat public accounts, video accounts, and Douyin [1][12]. - The report titled "Top 50 Brand Communication of Property Service Companies in China (2025)" highlights companies that effectively utilize new media to maximize communication benefits and enhance brand influence [1][12]. Group 3: WeChat Public Account Performance - In 2025, the top 50 property service companies' WeChat public accounts collectively achieved approximately 39.528 million reads, with an average of about 790,000 reads per account [5][17]. - The top three companies by WeChat public account reads were Country Garden Services Group (5,049,017), China Overseas Property Management (3,712,369), and Poly Property Services (2,643,051) [3][5]. Group 4: WeChat Video Account Performance - The top 30 property service companies' WeChat video accounts garnered a total of 12.52 million likes and shares, with an average of approximately 417,000 per account [9][20]. - The leading WeChat video accounts were New Hope Property Services (5,048,000), Shenzhen Jindi Property Management (1,127,180), and Country Garden Services (775,562) [7][20]. Group 5: Douyin Video Account Performance - The top five property service companies on Douyin achieved a total of 3.316 million likes and shares, with New Hope Services leading at over 2.155 million [10][22]. - Other notable companies included Wanwu Cloud Space Technology (376,408) and Green City Smart Living (290,513) [10][22].

Group 1: Cultural Heritage and Innovation - The integration of digital technology into traditional cultural heritage is enabling Chinese intangible cultural heritage (ICH) to reach a global audience, with various stakeholders working together to promote creative transformation and innovative development [1][3] - Zhang Hanmin, a national-level representative inheritor of the Bai ethnic tie-dye technique, has successfully brought this traditional craft to international markets, emphasizing the importance of innovation and cultural confidence in product development [3][4][6] Group 2: Bai Tie-Dye Technique - Zhang Hanmin has developed over 50 plant dye color cards and more than 40 innovative tie-dye techniques, breaking the traditional color limitations and gaining international acclaim [4][6] - The Bai tie-dye products have expanded from traditional home goods to scarves and cultural creative products, collaborating with international brands to appeal to younger consumers [6][7] Group 3: Dehua Porcelain Industry - Dehua porcelain, recognized as a national intangible cultural heritage, has seen a 50% increase in ceramic flower pot exports in 2025, with the company exporting to over 50 countries and regions [8][9] - The Dehua ceramic industry is undergoing a transformation from traditional OEM to self-owned brands and high-end customization, with a focus on cultural output [10][12] Group 4: International Expansion and Brand Development - Dehua County has actively organized enterprises to participate in international exhibitions, leading to an annual export growth rate of over 10% [10] - The company has registered over 100 patents and trademarks to establish an international brand for its porcelain products, aiming for a deeper cultural exchange and recognition [10][12] Group 5: Cultural Events and Global Outreach - The Yuyuan Lantern Festival, a significant cultural event, has expanded its influence internationally, attracting around 400,000 visitors annually and showcasing Chinese intangible cultural heritage [12][13] - The festival has successfully held events in Paris and Thailand, enhancing cultural exchange and friendship through immersive experiences [14][15]

Core Viewpoint - The domestic gold jewelry prices have significantly decreased, with multiple brands reporting a notable drop in their gold prices per gram [1] Group 1: Price Adjustments - Zhou Shengsheng's gold price has fallen to 1353 yuan per gram [1] - Lao Feng Xiang's price is now 1363 yuan per gram [1] - Lao Miao Gold is priced at 1359 yuan per gram [1] - Chow Tai Fook's price remains at 1363 yuan per gram [1] - Liufuk Jewelry's price is the highest at 1403 yuan per gram [1]

Core Viewpoint - The trust of end consumers in the narrative of "gold as a store of value" is being tested due to recent fluctuations in gold prices and the pricing strategies of jewelry brands [2][4]. Group 1: Price Fluctuations and Consumer Behavior - On December 30, international gold prices closed at $4,340.13 per ounce, while domestic gold jewelry prices saw significant declines, with brands like Chow Tai Fook and Lao Feng Xiang dropping over 40 yuan per gram [2]. - In mid-December, brands such as Chow Tai Fook announced price increases of around 15% for their products, indicating a trend of rising prices prior to the recent drop [2]. - The volatility in international gold prices is increasingly impacting the trading dynamics of the gold jewelry market, with sales personnel often not fully disclosing the risks associated with price fluctuations [4]. Group 2: Consumer Sentiment and Market Dynamics - Consumers exhibit irrational behavior characterized by "buying high and selling low," driven by narratives of inflation resistance and risk aversion during price surges, leading to increased purchasing intentions [4]. - When prices decline, consumer sentiment shifts to a wait-and-see approach, resulting in behaviors such as order cancellations and delays in product pickup [4]. - The pricing mechanism of gold jewelry brands typically involves "raw material cost + processing fee + brand premium," leading to rapid price increases during gold price surges, while adjustments during price declines are more cautious due to inventory costs and consumer expectations [5]. Group 3: Trust Issues and Market Positioning - The price stickiness in the market can lead to consumers feeling "stuck" after purchasing at high prices, which undermines their trust in the narrative of gold as a reliable store of value [5]. - If brands continue to market gold jewelry as a value-preserving asset, a decline in gold prices could trigger a demand shrinkage and a crisis of trust among consumers [5].

Group 1 - The company, Yuyuan Holdings, announced that as of December 31, 2025, it has repurchased a total of 8.8 million shares, which represents approximately 0.226078% of its total share capital [1] - The highest purchase price for the repurchased shares was 5.42 CNY per share, while the lowest was 5.12 CNY per share [1] - The total amount spent on the share repurchase was approximately 46.81 million CNY [1]

Core Viewpoint - Yuyuan Group (600655.SH) has announced a share repurchase plan, having repurchased a total of 8.8 million shares, which represents approximately 0.226078% of the company's total share capital [1] Summary by Categories Share Repurchase Details - The company has repurchased 8.8 million shares as of the end of December 2025 [1] - The highest purchase price was 5.42 yuan per share, while the lowest was 5.12 yuan per share [1] - The total amount paid for the repurchased shares is 46,808,276.18 yuan, excluding transaction fees [1]

关于以集中竞价交易方式回购公司 A 股股份 的进展公告 | 证券代码：600655 | 证券简称：豫园股份 | 公告编号：临 | 2026-001 | | --- | --- | --- | --- | | 债券代码：242519 | 债券简称：25豫园01 | | | | 债券代码：242813 | 债券简称：25豫园02 | | | | 债券代码：242814 | 债券简称：25豫园03 | | | 上海豫园旅游商城（集团）股份有限公司 上海豫园旅游商城（集团）股份有限公司（以下简称"公司"）于 2025 年 11 月 10 日召开第十一届董事会第四十六次会议审议通过了《关于以集中竞价交易方 式回购公司 A 股股份的议案》。本次回购股份价格为不超过人民币 8.60 元/股，本 次回购股份的资金总额不低于人民币 20,000 万元（含），不超过人民币 30,000 万元（含）。回购期限为自公司董事会审议通过本次回购股份方案之日起 12 个月 内。详细情况请参见上海证券交易所网站披露的《上海豫园旅游商城（集团）股 份有限公司关于以集中竞价交易方式回购公司 A 股股份方案的公告》（公告编号： 临 2025-09 ...

Core Viewpoint - The article discusses the recent significant decline in domestic gold jewelry prices and analyzes the potential for a continued bull market in gold for 2026, influenced by various economic factors and investor behavior [1][3]. Price Comparison - As of December 30, 2025, several gold jewelry brands reported a notable price drop for domestic 24K gold jewelry, with Lao Feng Xiang and Chow Tai Fook both priced at 1363 CNY per gram, while Lao Miao Gold was at 1359 CNY per gram, and Chow Sang Sang at 1353 CNY per gram. Liufu Jewelry maintained a price of 1403 CNY per gram [1][2]. Market Dynamics - The international gold price has seen fluctuations, dropping from a previous high of 4550 USD to around 4350 USD. The article raises the question of whether the gold bull market can continue into 2026 [2][3]. Support for Gold Market - Key factors supporting the gold market include expectations of interest rate cuts by the Federal Reserve, with three cuts totaling 75 basis points in 2025 and an anticipated 2-3 cuts in 2026. Additionally, global central bank gold purchases are expanding beyond geopolitical nations, with the share of dollar assets in global reserves decreasing from 72% to 56%, while gold reserves have increased to 25% [3]. Investor Behavior - Gold investment returns and capital inflows are positively correlated, with significant demand for gold observed in 2025, totaling 551.5 tons, 477.5 tons, and 537.2 tons in the first three quarters, respectively. Gold ETF and derivatives investments also showed strong performance, with figures of 226.6 tons, 170.5 tons, and 221.7 tons, all higher than the previous year. Despite a decline in gold jewelry consumption compared to the previous year, quarterly consumption remains high at nearly 400 tons [3]. Potential Risks - Possible negative factors for gold in 2026 include easing inflation pressures in the U.S., which historically led to declines in gold prices during periods of high inflation retreat. Additionally, liquidity pressures could prompt central banks to sell gold, as seen during the 1997 Asian financial crisis when global central banks sold gold, leading to significant price drops [4].

（编辑 王雪儿） 证券日报网讯 12月29日，豫园股份发布公告称，公司第十一届董事会第四十九次会议审议通过《关于 修订的议案》《关于修订部分公司制度的议案》《关于董事会换届选举的议案》等多项议案。 ...

上海豫园旅游商城（集团）股份有限公司 股东会议事规则 （尚需股东会审议通过） 第五条 股东会根据有关法律、行政法规的规定，按照谨慎授权原则，依据《公司 章程》、《关联交易管理制度》等制度，授予相关权限。 对于公司贷款事项，股东会可以在每个会计年度结束之日起四个月内召开会议，核 定当年度贷款规模，以及在此规模内公司以其资产为上述贷款提供担保的事项。对于发 生在当年度贷款规模范围内的贷款及担保事项，股东会可不再另行召开会议审议，授权 相关主体签署相关协议。 上述授权与有关法律、法规、规范性文件不一致的，以法律、法规、规范性文件为 准。 第六条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次，应当于 上一会计年度结束后的六个月内举行。临时股东会不定期召开，有下列情形之一的，公 司应在事实发生之日起 2 个月以内召开临时股东会： 第一章 总则 第一条 为促进公司规范运作，保证股东会依法行使职权，根据《中华人民共和国 公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证 券法》"）、《上海证券交易所股票上市规则》和《上市公司股东会规则》及《上海豫 园旅游商城（集团）股份有限公司章程》（ ...