证券代码：600916 证券简称：中国黄金 公告编号：2025-023 中国黄金集团黄金珠宝股份有限公司 关于控股股东以自有资金及专项贷款 本公司董事会、全体董事及相关股东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： 一、增持主体的基本情况 | | | 增持主体的基本情况：中国黄金集团有限公司（以下简称"集团公司"） 为中国黄金集团黄金珠宝股份有限公司（以下简称"公司"）的控股股 东。本次增持计划实施前，集团公司拥有公司股份 646,050,000 股， 占公司总股本的 38.46%。集团公司在本次公告前的 12 个月内未披露增 持计划；截至本次公告前 6 个月内，集团公司不存在减持公司股份的 情形。 增持计划的主要内容：集团公司计划在本公告披露之日起 12 个月内， 通过上海证券交易所交易系统以集中竞价、大宗交易等方式增持公司 无限售条件流通 A 股股份金额不低于人民币 16,750 万元，不高于人民 币 33,500 万元，资金来源为自有资金及增持专项贷款。 本次增持计划不触及要约收购，不会导致本公司控股股东及实际控制 人发生 ...

Group 1 - The controlling shareholder, China National Gold Group Corporation, plans to increase its stake in China Gold (600916) within 12 months from the announcement date [1] - The planned increase in shareholding will be between RMB 168 million and RMB 335 million, utilizing self-owned funds and special loans for the increase [1] - The shareholding increase plan will not trigger a mandatory tender offer and will not lead to changes in the controlling shareholder or actual controller of the company [1]

Market Overview - The Shanghai Composite Index fell by 0.18% on May 27, with 13 industries experiencing gains, led by textiles and apparel, which rose by 1.30%, and pharmaceuticals and biotechnology, which increased by 0.97% [2] - The sectors with the largest declines were non-ferrous metals and electronics, which dropped by 2.07% and 1.28%, respectively [2] Capital Flow Analysis - The main capital outflow from the two markets totaled 19.519 billion yuan, with 8 industries seeing net inflows [2] - The food and beverage sector had the highest net inflow, amounting to 1.006 billion yuan, while the pharmaceutical and biotechnology sector saw a net inflow of 650 million yuan [2] - A total of 23 industries experienced net capital outflows, with the electronics sector leading at 4.450 billion yuan, followed by machinery equipment with a net outflow of 3.401 billion yuan [2] Textiles and Apparel Sector Performance - The textiles and apparel sector rose by 1.30%, with a net capital inflow of 66.491 million yuan [3] - Out of 104 stocks in this sector, 88 stocks increased in value, with 3 hitting the daily limit [3] - The top three stocks with the highest net inflow were Mingpai Jewelry (94.475 million yuan), China Gold (82.489 million yuan), and Jin Hong Group (68.327 million yuan) [3] Capital Inflow and Outflow in Textiles and Apparel - The top inflow stocks included: - Mingpai Jewelry: +10.08%, 11.81% turnover, 94.475 million yuan inflow - China Gold: +1.82%, 2.33% turnover, 82.489 million yuan inflow - Jin Hong Group: +10.06%, 4.01% turnover, 68.327 million yuan inflow [4] - The top outflow stocks included: - Mankalon: +1.24%, 22.58% turnover, -80.0904 million yuan outflow - Ruibeka: -0.80%, 13.04% turnover, -51.3971 million yuan outflow - Hailan Home: -3.93%, 1.61% turnover, -40.8741 million yuan outflow [5]

资金面上看，今日培育钻石概念板块获主力资金净流入1.92亿元，其中，8股获主力资金净流入，净流 入资金居首的是黄河旋风，今日主力资金净流入1.76亿元，净流入资金居前的还有中国黄金、潮宏基、 国机精工等，主力资金分别净流入8248.90万元、2599.76万元、2183.32万元。 资金流入比率方面，*ST亚振、黄河旋风、中国黄金等流入比率居前，主力资金净流入率分别为 49.62%、47.73%、25.04%。（数据宝） 截至5月27日收盘，培育钻石概念上涨2.34%，位居概念板块涨幅第5，板块内，14股上涨，黄河旋风、 *ST亚振等涨停，潮宏基、惠丰钻石、四方达等涨幅居前，分别上涨7.20%、6.30%、5.47%。跌幅居前 的有楚江新材、国力股份、英诺激光等，分别下跌1.87%、1.58%、0.78%。 | 603389 | *ST 亚 | 5.03 | 0.09 | 131.98 | 49.62 | | --- | --- | --- | --- | --- | --- | | | 振 | | | | | | 605580 | 恒盛能 | 1.16 | 0.78 | -27.03 | -1.09 | | ...

Group 1 - The core viewpoint of the article is the strategic cooperation agreement signed between Guizhou Province and China Gold Group, focusing on various sectors including mineral resource exploration and development [1] - The agreement aims to deepen collaboration in areas such as central-local enterprise cooperation and the gold jewelry and jade industry [1]

Group 1 - The core point of the article is that Zhongjin Gold (中金黄金) plans to acquire equity in four companies to enhance its gold business and address competition issues [1][3] - Zhongjin Gold intends to acquire 49.33625% of Inner Mongolia Jintao, 80% of Hebei Dabaiyang, 70% of Liaoning Tianli, and 70% of Liaoning Jinfeng, all held by its controlling shareholder, China National Gold Group [3] - The acquisition is in the preliminary planning stage, requiring audits and evaluations, and must be approved by state asset supervision authorities and the company's board or shareholders [3] Group 2 - In 2024, Zhongjin Gold reported strong performance with revenue reaching 65.556 billion yuan, a year-on-year increase of 7.01%, and a net profit attributable to shareholders of 3.386 billion yuan, up 13.71% [4] - As of May 23, Zhongjin Gold's stock price was 13.90 yuan per share, reflecting a 0.58% increase, with a market capitalization of 67.378 billion yuan [4]

Group 1 - The core point of the news is that China Gold (600916) plans to acquire a total of 49.34% equity in Inner Mongolia Jintao Co., Ltd., 80% equity in Hebei Dabaoyang Gold Mine Co., Ltd., 70% equity in Liaoning Tianli Gold Industry Co., Ltd., and 70% equity in Liaoning Jinfeng Gold Mining Co., Ltd. from its controlling shareholder, China Gold Group, to enhance its gold business and resolve competition issues [1] - The acquisition is part of a strategy to support the company's development in the gold sector and is classified as a related party transaction due to the relationship with the controlling shareholder [1] Group 2 - Inner Mongolia Jintao's main business includes non-coal mining, mineral resource extraction, and precious metal smelting, with projected production in 2024 of 1,368.25 kg of gold, 654.35 tons of copper, and 5,521.88 kg of silver. As of December 31, 2024, it has total audited assets of 747 million yuan and a net asset of 469 million yuan, with an expected revenue of 761 million yuan and a net profit of 174 million yuan for the year [2] - Hebei Dabaoyang's primary business is also non-coal mining, with expected production in 2024 of 278.65 kg of gold and 371.54 kg of silver. As of December 31, 2024, it has total audited assets of 235 million yuan and a net asset of 115 million yuan, with projected revenue of 153 million yuan and a net profit of 32.72 million yuan [2] - Liaoning Tianli focuses on bio-oxidation technology for gold mining and expects to produce 1,231.43 kg of gold and 813.03 kg of silver in 2024. As of December 31, 2024, it has total audited assets of 492 million yuan and a net asset of 180 million yuan, with projected revenue of 696 million yuan and a net profit of 10.33 million yuan [3] - Liaoning Jinfeng's operations include gold and silver ore mining and processing, with expected production of 277.05 kg of gold in 2024. As of December 31, 2024, it has total audited assets of 149 million yuan and a net asset of 64.24 million yuan, with projected revenue of 116 million yuan and a net profit of 25.08 million yuan [3]

Investment Rating - The report assigns an "Overweight" (OW) rating to Chow Tai Fook (CTF), an "Equal Weight" (EW) rating to Laopu Gold, and an "Underweight" (UW) rating to both Lao Feng Xiang (LFX) and Chow Tai Seng (CTS) [8][11]. Core Insights - A milder rise in gold prices is expected to support a recovery in gold jewelry demand, particularly for weight-based gold jewelry products, which constitute over 70% of the gold jewelry market. There is an anticipated return of pent-up demand due to a recent decline in gold prices, which fell by 10% from its peak in late April [3][4]. - CTF is projected to benefit the most due to its high exposure to weight-based gold products (over 50%) and a higher proportion of self-operated stores (approximately 30% of sales). The company is seen as having better flexibility in switching between weight-based and fixed-price strategies [4][11]. - Laopu is expected to see solid demand growth, although the growth momentum may moderate due to stabilization in gold prices and a higher year-over-year comparison base. The brand is still in the early stages of consumer penetration, and demand for high-end heritage gold products is structural [5][11]. Summary by Company Chow Tai Fook (CTF) - Price target raised from HK$10.5 to HK$13, with an increase in target PE from 14x to 16x, reflecting the stock's average since 2016. The bull and bear case prices have also been adjusted to HK$17 and HK$7, respectively [6][32]. - Revenue forecasts for 2025-27 have been slightly cut by 2-3% due to macroeconomic uncertainties, while earnings for 2025 are reduced by 4% but increased for 2026 and 2027 by 3% and 0%, respectively, due to better margin outlook [31][32]. Laopu Gold - Price target lowered from HK$980 to HK$865, with a decrease in target PE from 37x to 33x, reflecting a normalization in growth outlook and recent equity fundraising. The bull and bear case prices are now HK$1345 and HK$395, respectively [6][34]. - Revenue estimates for 2025-27 have been slightly adjusted, with a projected revenue of Rmb23,118 million for 2025, reflecting a year-over-year growth of 171.8% [34]. Lao Feng Xiang (LFX) - Price target reduced from Rmb45 to Rmb36, with revenue forecasts for 2025-27 cut by 20-25% and earnings forecasts by 16%, due to severe revenue declines and store closures [6][35]. Chow Tai Seng (CTS) - Price target lowered from Rmb9.5 to Rmb9, with revenue forecasts for 2025-27 cut by 21% and earnings forecasts by 14-25%, reflecting a more severe decline than previously anticipated [6][35].

Group 1 - The board of directors of China Gold Group Jewelry Co., Ltd. held its ninth meeting of the second session on May 21, 2025, in Beijing, with all nine directors present [1][2] - The board unanimously agreed to waive the advance notice requirement for the meeting [1] - The board approved the appointment of Mr. Wu Yidong as the financial officer (chief accountant) of the company, effective from the date of the board's approval until the end of the current board's term [2]

二、其他情况说明 上述高级管理人员的任职资格符合相关法律、行政法规、规范性文件的 相关规定，不存在《中华人民共和国公司法》《公司章程》规定的不宜担任 上市公司董事或者高级管理人员的情形；不存在被中国证券监督管理委员会 确定为市场禁入者的情况；不存在被上海证券交易所认定为不适合担任上市 公司董事或者高级管理人员的其他情形。 证券代码：600916 证券简称：中国黄金 公告编号：2025-021 中国黄金集团黄金珠宝股份有限公司 关于聘任总会计师的公告 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。 中国黄金集团黄金珠宝股份有限公司（以下简称"公司"）于 2025 年 5 月 21 日召开第二届董事会第九次会议，各位董事一致同意豁免提前通知的 时限要求，审议通过了《关于聘任公司财务负责人(总会计师)的议案》，现 将相关情况公告如下： 一、聘任高级管理人员情况 为建立健全公司各项组织机构，保障公司的顺利运营，根据《中华人民 共和国公司法》（以下简称"《公司法》"）《上海证券交易所股票上市规 则》等法律法规及《中国黄金集团黄金珠宝股份 ...