Group 1 - The core viewpoint of the article highlights the strong performance of gold-related stocks, with several companies experiencing significant gains due to the recent rebound in international gold prices [1] - Companies such as 莱绅通灵 (Laisentongling) saw their stock prices hit the daily limit, while 四川黄金 (Sichuan Gold), 华钰矿业 (Huayu Mining), 晓程科技 (Xiaocheng Technology), and 湖南黄金 (Hunan Gold) all increased by over 5% [1] - The price of gold jewelry in domestic markets has also risen, with 周大福 (Chow Tai Fook) increasing the price of its gold jewelry to 1026 yuan per gram, up by 28 yuan from the previous day, and 老凤祥 (Lao Feng Xiang) raising its price to 1025 yuan per gram, an increase of 27 yuan [1]

黄金股持续拉升，莱绅通灵（603900）涨停，四川黄金（001337）涨超6%，湖南黄金（002155）、晓 程科技（300139）、明牌珠宝（002574）跟涨。 ...

Retail Sector Activity - The retail sector showed significant activity with Maoye Commercial (600828) hitting the daily limit and achieving five consecutive trading limits [1][4] - Other notable stocks in the retail sector included Cuiwei Co. (603123) and Laisen Tongling (603900), both reaching the daily limit, while Zhongxing Commercial (000715) and Hongqi Chain (002697) also saw substantial gains [4] Economic Indicators - In the first quarter, China's total retail sales of consumer goods reached 12.47 trillion yuan, marking a year-on-year growth of 4.6%, which is an acceleration of 1.1 percentage points compared to the previous year [6] - March alone saw a growth rate of 5.9% in retail sales [6] AI Glasses Concept - The AI glasses concept opened strong with Yingtong Communications (002861) hitting the daily limit, while Deep Konka A surged over 8% [7] Computing Power Leasing Concept - The computing power leasing concept gained momentum with Changshan Beiming (000158), Chaoxun Communication (603322), and Hongbo Co. (002229) all reaching the daily limit, and Yitian Intelligent (300911) rising over 10% [8] Real Estate Sector Movement - The real estate sector experienced a surge with Zhonghua Enterprise (600675) and Yuehongyuan A both hitting the daily limit, while Huayuan Real Estate (600743) and Xinhuangpu (600638) increased by over 7% [9] Banking Sector Decline - The banking sector faced declines, with Huaxia Bank dropping over 8%, and major banks like China Construction Bank, Beijing Bank, and others falling by more than 2% [10] Manufacturing PMI - China's manufacturing purchasing managers' index (PMI) for April was reported at 49%, a decrease of 1.5 percentage points from the previous month, indicating a contraction in the manufacturing sector [11] - High-tech manufacturing PMI stood at 51.5%, indicating continued expansion in that sector [11] - The service sector maintained expansion with a business activity index of 50.1, despite a slight decline from the previous month [11] US Automotive Tariff Developments - President Trump signed an announcement to provide compensation for tariffs on imported auto parts, allowing up to 3.75% of the retail price for compensation, which will decrease to 2.5% in the second year [12] - This move reflects ongoing pressure on the government regarding its tariff policies [12]

Group 1 - The core viewpoint of the article highlights the resurgence of consumer stocks, particularly in sectors such as beauty, pets, and retail, with several companies reaching historical highs [1] - Notable companies that achieved record highs include Wancheng Group, Runben Co., Dongpeng Beverage, Yanjinpuzi, and Jinbo Biological, while Han Commercial Group, Laishen Tongling, Anzheng Fashion, and Meike Home reached their daily limit [1] - The Ministry of Commerce is collaborating with relevant departments to introduce several measures, including the 2025 work plan for improving service consumption and benefiting the public [1]

证券代码：603900 证券简称：莱绅通灵 公告编号：2025-019 莱绅通灵珠宝股份有限公司 2025 年第一季度经营数据的公告 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。 根据上海证券交易所《上市公司自律监管指引第 3 号——行业信息披露》之第 四号《零售》等相关要求，现将公司 2025 年第一季度经营数据披露如下： 一、门店数量、面积及分布 1、分渠道模式门店数量变动情况 | 模式 | 期初 | 变动 | | | 期末 | | --- | --- | --- | --- | --- | --- | | | | 新开 关闭 | | 小计 | | | 直营 | 256 | 2 | 15 | -13 | 243 | | 加盟 | 121 | 2 | 13 | -11 | 110 | | 合计 | 377 | 4 | 28 | -24 | 353 | 注：公司期末直营门店中，有 1 家为自有物业，有 100 家为专厅。 2、分渠道模式门店面积变动情况 单位：m² | 模式 | 期初 | 变动 | | | 期末 | | -- ...

莱绅通灵珠宝股份有限公司 第五届监事会第八次会议决议公告 证券代码：603900 证券简称：莱绅通灵 公告编号：2025-018 公司董事会的编制和审议程序符合法律、行政法规、中国证监会的相关规定， 报告的内容能够真实、准确、完整地反映上市公司的实际情况，不存在虚假记载、 误导性陈述或者重大遗漏。 同意 3 票，反对 0 票，弃权 0 票。 特此公告。 莱绅通灵珠宝股份有限公司监事会 2025年4月30日 1 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法律责任。 莱绅通灵珠宝股份有限公司（以下简称"公司"）第五届监事会第八次会议 通知于 2025 年 4 月 25 日以专人、书面、邮件的形式发出，于 2025 年 4 月 29 日上午在公司会议室以现场方式召开。本次会议应出席监事 3 名，实际出席监事 3 名，董事会秘书和证券事务代表列席了会议。会议的召集、召开符合《公司法》 和《公司章程》的有关规定，会议由监事会主席沈姣女士主持，与会监事经过认 真审议，通过了以下议案： 一、 2025 年第一季度报告 ...

证券代码：603900 证券简称：莱绅通灵 公告编号：2025-017 莱绅通灵珠宝股份有限公司 第五届董事会第八次会议决议公告 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法律责任。 详情请见与本公告同日披露的《2025 年第一季度报告》。 本议案已经公司第五届董事会审计委员会第六次会议审议通过。 同意 8 票，反对 0 票，弃权 0 票。 特此公告。 莱绅通灵珠宝股份有限公司董事会 2025年4月30日 1 莱绅通灵珠宝股份有限公司（以下简称"公司"）第五届董事会第八次会议 通知于 2025 年 4 月 25 日以专人、书面、邮件的形式发出，于 2025 年 4 月 29 日上午以现场结合通讯方式召开。本次会议应出席董事 8 名，实际出席董事 8 名，公司监事及高级管理人员列席了会议。本次会议的召集、召开符合《公司法》 和《公司章程》的有关规定，会议由董事长马峻先生主持，会议经过认真审议， 通过了以下议案： 一、 2025 年第一季度报告 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 371,337,001.15, representing a 53.20% increase compared to CNY 242,381,338.72 in the same period last year[4] - Net profit attributable to shareholders was CNY 28,337,366.79, a significant recovery from a loss of CNY 18,760,264.49 in the previous year[4] - Basic and diluted earnings per share were both CNY 0.08, compared to a loss of CNY -0.06 per share in the previous year[4] - Operating profit for Q1 2025 was CNY 29,145,513.19, compared to an operating loss of CNY 23,933,350.40 in the same period last year[18] - Total revenue from sales of goods and services reached CNY 387,620,432.28 in Q1 2025, up from CNY 220,316,988.12 in Q1 2024, indicating a growth of approximately 75.9%[21] - The company recorded a total comprehensive income of CNY 28,335,810.54 in Q1 2025, compared to a total comprehensive loss of CNY 19,094,018.29 in Q1 2024[19] Cash Flow and Expenses - The net cash flow from operating activities reached CNY 20,803,795.95, a turnaround from a negative cash flow of CNY -154,780,354.36 in the same period last year[4] - The company achieved a net cash flow from operating activities of CNY 20,803,795.95 in Q1 2025, a turnaround from a negative cash flow of CNY 154,780,354.36 in Q1 2024[22] - The company incurred financial expenses of CNY -7,178,312.74 in Q1 2025, a notable improvement from CNY 780,004.43 in Q1 2024[18] - Investment activities resulted in a net cash outflow of CNY -22,910,695.78 in Q1 2025, contrasting with a net inflow of CNY 178,821,438.85 in Q1 2024[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,273,164,093.77, a slight decrease of 0.45% from CNY 2,283,546,377.34 at the end of the previous year[5] - Total liabilities decreased to ¥335,979,740.22 as of March 31, 2025, down from ¥375,259,916.58 at the end of 2024, a reduction of 10.4%[15] - The company's total assets as of March 31, 2025, were ¥2,273,164,093.77, down from ¥2,283,546,377.34 at the end of 2024, a decrease of 0.5%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 35,393[9] - Major shareholder Ma Jun holds 24.27% of the shares, with a total of 83,242,100 shares[9] Operating Costs - The company reported a 53.91% increase in operating costs, primarily due to the rise in operating revenue[8] - Total operating costs for Q1 2025 were ¥333,232,644.17, up from ¥264,011,282.45 in Q1 2024, reflecting an increase of 26.3%[17] - Operating costs included ¥219,183,986.91 in cost of goods sold for Q1 2025, compared to ¥142,406,358.70 in Q1 2024, marking a rise of 54.0%[17] Current Assets - As of March 31, 2025, total current assets amounted to ¥2,077,000,204.98, slightly up from ¥2,074,626,427.89 at the end of 2024[13] - The company's cash and cash equivalents were ¥148,348,631.84 as of March 31, 2025, down from ¥159,815,667.98 at the end of 2024, a decrease of 7.8%[12] - Inventory as of March 31, 2025, was ¥1,694,772,887.04, a slight decrease from ¥1,700,659,075.62 at the end of 2024, reflecting a decline of 0.3%[13] Research and Development - Research and development expenses decreased to CNY 244,035.63 in Q1 2025 from CNY 312,845.35 in Q1 2024, reflecting a reduction of about 22%[18] Future Outlook - The net profit for Q1 2025 will be reported in the upcoming financial disclosures, with expectations of continued growth based on current trends[16] - The company is actively monitoring the ongoing share transfer agreement and potential risks associated with payment completion, which may impact future financial stability[11] Return on Equity - The weighted average return on equity improved to 1.47%, an increase of 2.36 percentage points from -0.89% in the previous year[4]

莱绅通灵（603900）公告，2025年第一季度营收为3.71亿元，同比增长53.20%；净利润为2833.74万 元，去年同期净亏损1876.03万元。 ...

Group 1 - The core viewpoint of the article highlights the shift of jewelry companies, such as Laishentongling, into the gold jewelry market due to declining diamond sales and rising gold prices [2][3] - Laishentongling entered the gold jewelry sector in 2023, with the gold product market in China reaching approximately 518 billion yuan, a year-on-year increase of 26.34%, while diamond product sales fell by 26.83% [2] - Despite a significant revenue increase of 66.81% to 1.222 billion yuan in 2024, Laishentongling reported a net loss of 184 million yuan, marking three consecutive years of losses [2][3] Group 2 - The increase in revenue is attributed to the rise in sales of gold jewelry and traditional gold products, which accounted for nearly 40% of total revenue in 2024, compared to only 10% in 2023 [3] - The sales structure change led to a decline in overall gross margin, with diamond products' share dropping from 80% in 2023 to 48% in 2024, and their gross margin decreasing from 56.62% to 41.6% [3] - Gold products had a gross margin of 26.23% in 2023, which fell to 18.2% in 2024, indicating lower profitability compared to diamonds [3] Group 3 - Industry insights reveal that while gold prices have risen, many established jewelry brands, such as Chow Tai Fook, have a gross margin around 22%, and local brands like Zhou Dasheng have margins as low as 10% [4] - The overall terminal gross margin for gold products is estimated to be around 10%, with smaller brands relying on price advantages to attract consumers [5] - The rising gold prices may lead to a situation where even increased sales do not translate into higher profits for many jewelry brands [6]