2023 净增门店 615 家，盈利能力持续提升 2024 年 04 月 29 日 相关研究 3.中国黄金（600916.SH）2022 年年报及 2 023 年一季报点评：黄金产品优势稳固，丰富 产品结构打造新增亮点-2023/04/23 4.中国黄金（600916.SH）深度报告：巩固"金 字招牌"，发力培育钻石-2022/10/25 中国黄金(600916)/商业零售及社会服务 2026E 8.37 10.78 11.07 4.20 1.97 10.46 16.82 2.68 1.44 1.21 37.12 5.50 26.00 0.92 5.46 1.16 0.60 12 2.1 6.66 5.33 ➢ 事件概述： 2023 年，公司实现营业收入 563.64 亿元，同比+19.61%；实现归母净利润 9.73 亿元，同比+27.20%；扣非归母净利润为 8.81 亿元，同比+26.81%。24Q1，营收为 182.51 亿元， 同比+13.08%；归母净利润为 3.63 亿元，同比+21.09%；扣非归母净利润 3.69 亿元，同比+33.21%。 ➢ 黄金珠宝产品销售带动营收稳健增长，经销模式收入 ...

证券研究报告·公司点评报告·饰品 2023 年报&2024 一季报点评：2024Q1 归母 净利同比+21%，加盟渠道拓店效果显著 2024 年 04 月 29 日 [Table_Tag] [Table_Summary] 投资要点 ◼ 2023 年毛利率和销售净利率均整体有提升，：2023 年公司整体毛利率为 4.13%，同比增加了 0.23pct，其中黄金产品毛利率为 3.67%，同比增加 0.36pct，K 金珠宝产品毛利率为 18.30%，同比下滑 3.86pct，销售净利 率 1.73%，同比提升 0.1pct。 ◼ 2024 年 Q1 实现归母净利润同比+21%：2024 年 Q1 公司实现收入 182.5 亿元，同比+13.1%，实现归母净利润 3.6 亿元，同比+21.1%，实现扣非 归母净利润 3.7 亿元，同比+33.2%。2024 年 Q1 公司实现毛利率 4.09%， 同比增加 0.11pct，销售净利率 2%，同比提升 0.13pct。 证券分析师 吴劲草 执业证书：S0600520090006 wujc@dwzq.com.cn 证券分析师 谭志千 执业证书：S060052212000 ...

公司研究 要点 公司 1Q2024 营收同比增长 13.08%，归母净利润同比增长 21.09% 4月28日，公司公布2023年年报及2024年一季报：2023年实现营业收入563.64 亿元，同比增长 19.61%，实现归母净利润 9.73 亿元，折合成全面摊薄 EPS 为 0.58 元，同比增长 27.20%，实现扣非归母净利润 8.81 亿元，同比增长 26.81%。 2023 年公司期间费用率为 1.30%，同比下降 0.07 个百分点，其中，销售/管理/ 财务/研发费用率分别为 0.88%/0.33%/0.04%/0.05%，同比分别变化-0.07/ +0.02/-0.02/-0.01 个百分点。1Q2024 公司期间费用率为 0.99%，同比上升 0.05 个百分点，其中，销售/管理/财务/研发费用率分别为 0.70%/0.20%/0.07%/ 0.02%，同比分别变化+0.07/ -0.03/ +0.03/-0.03 个百分点。 2023 年门店净增 615 家，不同渠道稳步拓展 2023 年公司直营门店新开 13 家，关闭 15 家；加盟门店新开 985 家，关闭 368 家；公司门店净增 6 ...

中国黄金集团黄金珠宝股份有限公司 审计报告 天职业字[2024] 30585 号 录 审计报告 -- -1 2023 年度财务报表 -- -6 2023 年度财务报表附注 -- -18 中国黄金集团黄金珠宝股份有限公司全体股东: 一、审计意见 我们审计了中国黄金集团黄金珠宝股份有限公司(以下简称"中国黄金公司")财务报表, 包括 2023 年 12 月 31 日的合并及母公司资产负债表,2023 年度的合并及母公司利润表、合并及 母公司现金流量表、合并及母公司所有者权益变动表以及相关财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映了中国 黄金公司 2023 年 12 月 31 日的合并及母公司财务状况以及 2023 年度的合并及母公司经营成果和 现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对财务 报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照中国注册会计师职业道德守 则,我们独立于中国黄金公司,并履行了职业道德方面的其他责任。我们相信,我们获取的审计 证据是充分、适当的,为发表审计意见提供 ...

Financial Performance - In Q1 2024, the company's operating revenue reached ¥18,250,656,107.52, representing a year-on-year increase of 13.08%[14] - The net profit attributable to shareholders was ¥363,255,253.39, reflecting a growth of 21.09% compared to the same period last year[14] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥369,110,634.83, which is an increase of 33.21% year-on-year[14] - The basic earnings per share for the quarter was ¥0.22, marking a 22.22% increase from the previous year[14] - Total revenue for Q1 2024 reached ¥18,250,656,107.52, an increase of 13.1% compared to ¥16,139,408,860.54 in Q1 2023[28] - Net profit for Q1 2024 was ¥364,744,950.11, representing a 21.1% increase from ¥301,077,063.69 in Q1 2023[30] - The total comprehensive income for Q1 2024 was ¥364,744,950.11, compared to ¥301,042,708.26 in Q1 2023[31] Assets and Liabilities - The total assets at the end of Q1 2024 amounted to ¥13,528,793,442.79, up 3.19% from the end of the previous year[15] - Total liabilities as of March 31, 2024, were RMB 5,692,787,525.46, slightly up from RMB 5,639,019,764.80 at the end of 2023, representing a marginal increase of 0.9%[26] - The company's equity attributable to shareholders rose to RMB 7,746,833,365.68 from RMB 7,383,578,112.29, marking an increase of approximately 4.9%[26] - The total liabilities to equity ratio as of March 31, 2024, was approximately 0.73, indicating a stable leverage position compared to the previous period[26] Cash Flow - The net cash flow from operating activities was reported at ¥1,094,364,860.17, with no applicable year-on-year comparison[14] - Cash flow from operating activities in Q1 2024 was ¥19,454,649,967.45, an increase from ¥15,266,524,945.56 in Q1 2023[31] - Operating cash inflow totaled approximately CNY 19.54 billion, an increase from CNY 15.35 billion year-over-year[37] - Net cash flow from operating activities was CNY 1.09 billion, a significant improvement from a negative CNY 1.23 billion in the same period last year[37] - The company reported a net cash increase of ¥1,065,307,738.70 in Q1 2024, contrasting with a decrease of ¥1,416,598,473.69 in Q1 2023[34] Shareholder Information - The company reported a total of 85,606 common shareholders at the end of the reporting period[17] Operational Efficiency - The company experienced a significant increase in gold jewelry sales volume, contributing to the rise in gross profit and net profit[14] - The company is focused on improving cash flow management and operational efficiency moving forward[39] Other Financial Metrics - The weighted average return on equity was 4.80%, an increase of 0.56 percentage points year-on-year[14] - The company incurred R&D expenses of ¥3,054,943.14 in Q1 2024, a decrease of 55.5% from ¥6,849,517.55 in Q1 2023[30] - Financial expenses in Q1 2024 were ¥12,368,393.19, up from ¥5,672,545.71 in Q1 2023[30] - The company's cash and cash equivalents reached RMB 7,159,207,518.94, compared to RMB 6,033,027,834.70 at the end of 2023, indicating an increase of about 18.6%[23] - Accounts receivable decreased to RMB 799,282,925.86 from RMB 1,236,560,158.22, a decline of about 35.4%[21] - Inventory stood at RMB 4,276,109,537.78, down from RMB 4,484,296,515.63, reflecting a decrease of approximately 4.6%[21] - The total current assets amounted to RMB 12,821,049,266.72, an increase from RMB 12,407,512,049.36, which is a growth of about 3.3%[21] - The total non-current assets amounted to RMB 707,744,176.07, slightly up from RMB 702,768,682.66, indicating a growth of around 0.4%[25] - The company’s retained earnings increased to RMB 3,413,021,587.49 from RMB 3,049,766,334.10, showing a growth of approximately 11.9%[26]

中国黄金集团黄金珠宝股份有限公司 内部控制审计报告 天 职 业 字 [2024]34767 号 录 目 内部控制审计报告— 您可使用手机"打一打"或进入"注册会计师行业统一监管平台（http://www.blogs.co）"进行论 您可使用手机"打一打"或进入"注册会计师行业统一监管平台（http://ac.mo.net）"进行评论 " -1 内部控制审计报告 天职业字[2024]34767 号 中国黄金集团黄金珠宝股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计了中 国黄金集团黄金珠宝股份有限公司(以下简称中国黄金公司)2023年12月 31 日的财务报告 内部控制的有效性。 一、企业对内部控制的责任 我们认为,中国黄金公司于 2023年 12月 31 日按照《企业内部控制基本规范》和相关规 定在所有重大方面保持了有效的财务报告内部控制。 内部控制审计报告（续） 天职业字[2024]34767 号 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》 的规定,建立健全和有效实施内部控制，并评价其有效性是中国黄金公司董事会的责任。 二 ...

您可使用手机"打一扫"或进入"注册会计师行业统一监管平台（http://ac.not.gover.cn）"进行评论 您可使用手机"打一扫"或进入"注册会计师行业统一监管平台（http://ac.cn/）"进行评论 控股股东及其他关联方资金占用情况的专项说明 中国黄金集团黄金珠宝股份有限公司 控 股 股 东 及 其 他 关 联 方 资 金 占 用 情 况 的 专 项 说 明 天 职 业 字 [2024]30585-2 号 m 录 控股股东及其他关联方资金占用情况的专项说明- -1 中国注册会计师: 中国注册会计师: 天职业字[2024]30585-2 号 中国黄金集团黄金珠宝股份有限公司董事会: 我们审计了中国黄金集团黄金珠宝股份有限公司(以下简称"中国黄金公司")财务报表, 包括2023年12月31日的合并及母公司资产负债表、2023年度的合并及母公司利润表、合并及母 公司现金流量表、合并及母公司股东权益变动表以及财务报表附注,并于2021年4月25日签署 了标准无保留意见的审计报告。 根据中国证监会、公安部、国资委、中国银保监会《上市公司监管指引第8号 -- 上市公 司资金往来、对外担保的监管要求》和证券交 ...

Financial Performance - As of the end of 2023, the net profit from operating activities reached 1,576,677,301.17 CNY, an increase of 32.14% compared to the previous year [25]. - The company's operating revenue for 2023 reached ¥56.36 billion, representing a 19.61% increase compared to ¥47.12 billion in 2022 [46]. - Net profit attributable to shareholders for 2023 was ¥973.48 million, up 27.20% from ¥765.33 million in 2022 [46]. - Basic earnings per share for 2023 increased to ¥0.58, a 26.09% rise from ¥0.46 in 2022 [48]. - The weighted average return on equity for 2023 was 13.61%, an increase of 2.25 percentage points from 11.36% in 2022 [48]. - The company's operating revenue for 2023 reached ¥16,139,408,860.54, an increase from ¥13,428,084,004.13 in 2022, representing a growth of approximately 20.2% [57]. - Net profit attributable to shareholders for 2023 was ¥299,991,808.51, compared to ¥237,029,292.60 in 2022, reflecting a year-over-year increase of about 26.5% [57]. - The net profit after deducting non-recurring gains and losses was ¥277,081,516.71 in 2023, up from ¥225,886,627.12 in 2022, indicating a growth of approximately 22.7% [57]. Assets and Liabilities - The total assets of the company at the end of 2023 amounted to 13,110,280,732.02 CNY, reflecting a growth of 12.73% year-on-year [25]. - The net assets attributable to shareholders reached 7,383,578,112.29 CNY, representing a 6.73% increase from the previous year [25]. - Total liabilities rose to ¥5,639,019,764.80, up from ¥4,628,460,085.38, indicating a year-over-year increase of about 21.83% [67]. - Current assets totaled ¥6,228,352,372.07, an increase of 12.66% from ¥5,528,781,858.71 in the previous year [68]. - Cash and cash equivalents at the end of the period were ¥4,008,534,345.49, compared to ¥3,551,717,882.20, reflecting a net increase of approximately 12.83% [75]. - The company’s inventory increased to ¥1,537,159,604.72, up from ¥1,255,426,591.24, representing a growth of approximately 22.47% [68]. - The total accounts receivable at the end of the period amounted to ¥1,408,609,935.66, an increase from ¥1,318,945,063.15 at the beginning of the period, reflecting a growth of approximately 6.8% [178]. Cash Flow - The net cash flow from operating activities was negative at -¥1,226,892,738.30 in 2023, a decline from -¥615,742,327.37 in 2022 [57]. - The company reported a net cash outflow from financing activities of ¥566,021,416.20, compared to a net outflow of ¥446,673,052.51 in the previous year [75]. - The company’s total cash and cash equivalents at the beginning of the period were ¥3,551,717,882.20, compared to ¥3,839,932,341.07, reflecting a decrease of about 7.48% [75]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 4.50 CNY per 10 shares (including tax), totaling 756,000,000 CNY, which accounts for 77.66% of the net profit attributable to shareholders [12]. - The company reported a profit distribution to owners (or shareholders) amounting to 403,055.67 million, which is a reduction of 403,055.67 million compared to the previous year [88]. Audit and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm [11]. - The board of directors and management have guaranteed the authenticity, accuracy, and completeness of the annual report [10]. - The company’s financial statements comply with the requirements of accounting standards, accurately reflecting its financial position and operating results [92]. - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors, highlighting the importance of investment risk awareness [36]. Market and Business Strategy - The company successfully expanded its franchise business, achieving new store openings in key locations such as Changsha and Wuhan [52]. - E-commerce operations have been established in Changsha, enhancing online sales strategies and partnerships with major platforms [52]. - The company has deepened cross-industry collaborations, successfully completing projects like the "Guimao Year" gold stamp and the fifth set of zodiac gold projects [52]. - The company is focusing on product upgrade strategies to enhance brand management and customer experience [54][55]. - The company has implemented a comprehensive recovery service for precious metals, enhancing its market presence and customer engagement [53]. - The company plans to continue expanding its market presence and improving operational efficiency through strategic partnerships and innovative business models [52]. Inventory and Receivables Management - The company has recognized a total bad debt provision of ¥122,214,132.99, with a 100% provision rate for several accounts due to expected uncollectibility [180]. - The aging analysis of accounts receivable shows that 40.47% of the total is within one year, while 46.71% is over three years [167]. - The company is focusing on improving its collection processes to reduce the amount of receivables that require a bad debt provision [182]. - The overall financial health appears stable, with a focus on managing receivables and prepayments effectively to support future growth [199]. Shareholding and Control - The controlling shareholder of the company is China National Gold Group Corporation, holding 38.46% of the shares [147]. - The actual controller of the company is the State-owned Assets Supervision and Administration Commission of the State Council [148]. - The company has no significant changes in control during the reporting period [148]. - The company does not have any pledged shares exceeding 80% of the total shares held by the controlling shareholder [149].

一、聘请会计师事务所基本情况 （一）会计师事务所基本情况。 中国黄金集团黄金珠宝股份有限公司 2023 年度会计师事务所履职情况评估报告 中国黄金集团黄金珠宝股份有限公司（以下简称"公司"） 聘请天职国际会计师事务所（特殊普通合伙）（以下简称"天 职国际"）作为公司 2023 年度财务报告和内部控制的审计 机构。 根据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司治理准则》《国有企业、上市公司选聘会计 师事务所管理办法》，公司对天职国际在 2023 年度的审计 工作情况进行了评估，具体情况如下： 天职国际成立于 2012 年 3 月 5 日，注册地址为北京市 海淀区车公庄西路 19 号 68 号楼 A-1 和 A-5 区域，首席合伙 人为邱靖之，拥有财政部颁发的会计师事务所执业证书。截 至 2022 年末，天职国际合伙人 85 名，注册会计师 1,061 名， 签署过证券服务业务审计报告的注册会计师超过 347 人。 天职国际 2022 年度业务收入 31.22 亿元，其中审计业 务收入 25.18 亿元，证券业务收入 12.03 亿元。2022 年年报 上市公司审计客户 248 家，主要行业包 ...

证券代码：600916 证券简称：中国黄金 公告编号：2024-019 中国黄金集团黄金珠宝股份有限公司 关于续聘会计师事务所的公告 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。 重要内容提示： ●拟聘任的会计师事务所名称：天职国际会计师事务所(特殊普通合伙)（以 下简称"天职国际"）。 中国黄金集团黄金珠宝股份有限公司(以下简称"公司")于 2024 年 4 月 25 日召开第二届董事会第二次会议，审议通过了《关于公司续聘会计师事务所的议 案》，拟续聘天职国际为公司 2024 年度财务审计机构和内部控制审计机构，现 将天职国际相关情况披露如下： 一、拟聘任会计师事务所的基本情况 天职国际按照相关法律法规在以前年度已累计计提足额的职业风险基金，已 计提的职业风险基金和购买的职业保险累计赔偿限额不低于 20,000 万元。职业 风险基金计提以及职业保险购买符合相关规定。 近三年，天职国际不存在因执业行为在相关民事诉讼中承担民事责任的情况。 3.诚信记录 天职国际近三年因执业行为受到刑事处罚 0 次、行政处罚 0 次、监督管理措 ...