莱绅通灵珠宝股份有限公司 对外担保管理制度 （2025 年 8 月 20 日第五届董事会第十次会议审议通过） 第一章 总则 第一条 为保护投资者合法权益，规范莱绅通灵珠宝股份有限公司（以下简称 公司）对外担保行为，有效防范对外担保风险，确保公司资产安全，根据《公司 法》《担保法》《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》《上市公司独立董事管理办法》《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》《公司章程》等有关规 定，结合公司实际情况，特制定本制度。 第二条 本制度所称对外担保是指公司（含子公司，下同）以第三人身份为公 司合并报表范围外的法人或其他组织提供的担保。公司子公司对外担保除履行子 公司决策程序外，还须视同公司对外担保提交公司董事会、股东会审议（若无特 别说明，本制度所指董事会、股东会，均为公司董事会、股东会）。公司为子公 司提供的担保视为对外担保。 第三条 公司对外担保实行统一管理，非经董事会或股东会批准、授权，任何 人无权以公司名义签署对外担保的合同、协议或其他类似的法律文件。 第四条 公司对外担保应当遵循合法、审慎、互利 ...

格隆汇8月21日丨莱绅通灵(603900.SH)公布半年度报告，营业收入8.7亿元，同比增长37.00%，归属于 上市公司股东的净利润6060.9万元，同比扭亏，归属于上市公司股东的扣除非经常性损益的净利润 7027.96万元，同比扭亏。 ...

莱绅通灵公告，2025年上半年营业收入8.7亿元，同比增长37.00%。净利润6060.94万元，上年同期净亏 损3706.52万元。公司2025年半年度不进行利润分配，即不派发现金红利、不送红股、不以公积金转增 股本。 ...

Market Overview - The jewelry sector increased by 1.43% on August 20, with Chao Hong Ji leading the gains [1] - The Shanghai Composite Index closed at 3766.21, up 1.04%, while the Shenzhen Component Index closed at 11926.74, up 0.89% [1] Individual Stock Performance - Chao Hong Ji (002345) closed at 15.59, up 4.21% with a trading volume of 290,900 shares and a turnover of 446 million yuan [1] - Shen Zhonghua A (000017) closed at 6.84, up 4.11% with a trading volume of 455,800 shares and a turnover of 313 million yuan [1] - Lai Xi Tong Ling (603900) closed at 10.68, up 2.79% with a trading volume of 274,500 shares and a turnover of 289 million yuan [1] - Man Ka Long (300945) closed at 19.17, up 2.29% with a trading volume of 194,000 shares and a turnover of 370 million yuan [1] - Ming Pai Jewelry (002574) closed at 5.90, up 2.08% with a trading volume of 210,800 shares and a turnover of 123 million yuan [1] - Di A Shares (301177) closed at 29.93, up 1.91% with a trading volume of 21,800 shares and a turnover of 64.5 million yuan [1] - Cai Zi Shares (605599) closed at 15.26, up 1.46% with a trading volume of 51,000 shares and a turnover of 77.2 million yuan [1] - Xing Hua Jewelry (002731) closed at 13.57, up 1.34% with a trading volume of 100,200 shares and a turnover of 135 million yuan [1] - Zhou Da Sheng (002867) closed at 13.09, up 1.16% with a trading volume of 76,500 shares and a turnover of 99.5 million yuan [1] - Lao Feng Xiang (600612) closed at 47.67, up 0.82% with a trading volume of 18,000 shares and a turnover of 85.6 million yuan [1] Capital Flow Analysis - The jewelry sector saw a net inflow of 87.08 million yuan from institutional investors, while retail investors experienced a net outflow of 138 million yuan [2] - The overall capital flow indicates a strong interest from institutional investors despite the outflow from retail investors [2]

Market Performance - The market opened strong with the Shanghai Composite Index up by 0.56%, the Shenzhen Component Index up by 1.47%, and the ChiNext Index up by 2.81% at midday [1] - Total trading volume reached 1.31 trillion [1] Sector Performance - AI hardware stocks surged again, with companies like Xinyi Technology hitting historical highs [3] - Brokerage stocks saw a rise, with Guosheng Financial Holdings achieving two consecutive trading limits [3] - Innovative drug concept stocks became active again, with Haishi Ke hitting the daily limit [3] - CPO, photolithography machines, and CRO sectors showed significant gains [3] - Jewelry and accessories sector faced a decline, down by 1.21% at midday, with Mankalon dropping by 3.42% and other stocks like Cuihua Jewelry and Laishen Tongling falling over 2% [3] - Other sectors such as horse racing, cement and building materials, poultry, coal, shipping ports, and Xinjiang also experienced notable declines [3] News Impact - Tianjin introduced a new measure allowing the use of housing provident fund for down payments on existing homes [3] - The US dollar against the Vietnamese dong rose by 0.03% to 26,267, marking the highest level since at least June 1993 [3] - South Korea plans to impose anti-dumping duties on hot-rolled stainless steel plates from China [3]

黄金概念板块领跌，下跌1.0%，其中莱绅通灵下跌6.23%，武商集团下跌6.16%，赤峰黄金下跌4.98%， 萃华珠宝、西部黄金、曼卡龙跌超4%。（第一财经AI快讯） ...

Market Overview - The Shanghai Composite Index rose by 0.16% on August 7, with 18 out of the 28 sectors experiencing gains. The top-performing sectors were non-ferrous metals and beauty care, with increases of 1.20% and 0.99% respectively. The textile and apparel sector also saw a rise of 0.81%. Conversely, the pharmaceutical and biological sector and the electric equipment sector faced declines of 0.92% and 0.74% respectively [1]. Capital Flow Analysis - The main capital flow showed a net outflow of 37.824 billion yuan across the two markets. Eight sectors recorded net inflows, with the electronics sector leading at a net inflow of 3.124 billion yuan and a daily increase of 0.45%. The non-ferrous metals sector followed with a net inflow of 650 million yuan and a daily increase of 1.20% [1]. - A total of 23 sectors experienced net outflows, with the machinery equipment sector seeing the largest outflow of 6.321 billion yuan, followed by the national defense and military industry with an outflow of 6.071 billion yuan. Other sectors with significant outflows included pharmaceuticals, electric equipment, and computers [1]. Textile and Apparel Sector Performance - The textile and apparel sector increased by 0.81% with a net inflow of 465 million yuan. Out of 105 stocks in this sector, 47 stocks rose, including 5 that hit the daily limit. However, 54 stocks declined. Notably, 37 stocks had net inflows, with 5 stocks receiving over 50 million yuan in net inflows. The top stock for net inflow was Jihua Group, with an inflow of 388 million yuan, followed by Feiyada and Laishen Tongling with inflows of 135 million yuan and 110 million yuan respectively [2]. - The sector also had stocks with significant net outflows, with 6 stocks experiencing outflows exceeding 30 million yuan. The stocks with the largest outflows were Huafu Fashion, Wanlima, and Nanshan Zhishang, with outflows of 112 million yuan, 86.16 million yuan, and 39.82 million yuan respectively [2][4]. Top Gainers in Textile and Apparel Sector - The top gainers in the textile and apparel sector included: - Jihua Group: +10.09% with a turnover rate of 9.66% and a main capital flow of 388.31 million yuan - Feiyada: +10.03% with a turnover rate of 11.49% and a main capital flow of 135.38 million yuan - Laishen Tongling: +10.02% with a turnover rate of 10.05% and a main capital flow of 110.23 million yuan - Other notable gainers included Jin Hong Group and Mankalon with increases of 10.05% and 5.71% respectively [3]. Top Losers in Textile and Apparel Sector - The top losers in the textile and apparel sector included: - Huafu Fashion: -1.15% with a turnover rate of 9.28% and a main capital flow of -112.27 million yuan - Wanlima: +3.57% with a turnover rate of 47.18% and a main capital flow of -86.16 million yuan - Nanshan Zhishang: -2.20% with a turnover rate of 4.25% and a main capital flow of -39.82 million yuan - Other notable losers included Tanshizhe and Qipiwolf with declines of -0.44% and -1.47% respectively [4].

Core Viewpoint - The report from Huaxin Securities indicates that the company Laisentongling has turned a profit, primarily driven by the contribution from its gold business, which has seen revenue growth of over 30% year-on-year [1] Group 1: Financial Performance - The improvement in performance is mainly attributed to the expansion of the gold business, which has significantly increased the company's revenue [1] - The product structure has been continuously optimized, with a notable increase in the proportion of high-margin gold inlay business, leading to an enhancement in overall gross margin [1] - The company has also optimized its business processes and strengthened cost control, resulting in an improvement in operational efficiency and a year-on-year decrease in the comprehensive expense ratio [1] Group 2: Future Outlook - With the expansion of the gold business and optimization of operational costs, the company's performance is expected to continue improving [1] - The gold business, which started in 2023, is projected to see a significant increase in sales in 2024, stabilizing and recovering overall revenue, thus forming a second growth curve [1] - As the product matrix expands, store upgrades, and regional expansion occur, the company's performance is anticipated to keep rising [1] Group 3: Earnings Projections - According to the preliminary earnings announcement for the first half of 2025, the expected EPS for 2025-2027 are projected to be 0.18, 0.33, and 0.47 yuan respectively [1] - The current stock price corresponds to PE ratios of 54, 30, and 21 times for the years 2025, 2026, and 2027 respectively [1] - The report initiates coverage with a "Buy" investment rating [1]

Core Viewpoint - The report from Huaxin Securities indicates that the company has turned a profit, driven by the contribution from its gold business, with revenue growth exceeding 30% year-on-year [1] Group 1: Financial Performance - The improvement in performance is primarily attributed to the expansion of the gold business, which has significantly increased the company's revenue [1] - The product mix has been continuously optimized, with a notable increase in the high-margin gold inlay business, leading to an improvement in overall gross margin [1] - The company has enhanced operational efficiency through ongoing process optimization and cost control, resulting in a year-on-year decrease in the comprehensive expense ratio [1] Group 2: Future Outlook - With the expansion of the gold business and optimization of operational costs, the company's performance is expected to continue improving [1] - The gold business, initiated in 2023, is projected to see substantial sales growth in 2024, stabilizing and recovering overall revenue, thus forming a second growth curve [1] - As the product matrix expands, store upgrades, and regional expansion occur, the company's performance is anticipated to keep rising [1] Group 3: Earnings Projections - According to the preliminary earnings announcement for the first half of 2025, the expected EPS for 2025-2027 is projected to be 0.18, 0.33, and 0.47 yuan respectively [1] - The current stock price corresponds to PE ratios of 54, 30, and 21 times for the years 2025, 2026, and 2027 respectively [1] - The report initiates coverage with a "Buy" investment rating [1]

Core Viewpoint - The stock of Laishen Tongling reached a limit-up closing price of 10.87 yuan on August 7, 2025, driven by strong performance expectations and market dynamics [1]. Group 1: Company Performance - Laishen Tongling expects a 259% year-on-year increase in net profit for the mid-2025 report, primarily benefiting from the expansion of its gold business and an increase in the proportion of high-margin products [1]. - The company has made significant progress in optimizing its product structure, enhancing its competitive advantage through increased R&D in gold inlay and IP series products [1]. Group 2: Market Dynamics - The brand value of Laishen Tongling is being reinforced by its heritage as a supplier to European royal jewelry and its positioning in artistic gold, which strengthens market recognition [1]. - The gold jewelry sector is experiencing a boost from risk-averse sentiment in the market, coupled with the rising popularity of IP economy concepts, creating a synergistic effect across the sector [1]. Group 3: Capital Flow Analysis - On August 7, 2025, the net inflow of main funds was 116 million yuan, accounting for 32.32% of the total trading volume, while retail investors saw a net outflow of 77.18 million yuan, representing 21.5% of the total trading volume [2]. - Over the past five days, the stock has shown fluctuations in capital flow, with varying net inflows and outflows from main funds, retail investors, and speculative funds [2].