六礼之纳吉，即问名之后卜问吉凶，若得吉兆，则婚事可成；六礼之请期，乃择定良辰吉日，以迎花嫁 之期。二礼一重天意之允，二重时序之宜，寄托对两心相守、白首不离的深切期许。周大生幸福花嫁系 列"蝶舞嫣然"，正是这一美好愿景的当代诠释。"蝶舞嫣然"以"蝶恋花"为灵感，将翩跹灵动的蝴蝶与层 叠柔美的花嫣草融于一体：蝶翼轻扬，似赴三生之约；枝蔓婉转，如诉寸寸柔情。二者相依相伴，恰如 命中注定的缱绻姻缘，温柔而恒久。在工艺上，"蝶舞嫣然"采用古法金技艺精心打造，局部则以细腻花 丝勾勒花嫣草盛放之姿，凝结对婚姻最真挚的祝福。 在中国传统婚嫁文化中，一纸婚书承载着庄重承诺。自纳采、问名、纳吉、纳征、请期至亲迎，六礼循 序而行，不仅是礼法的庄重演绎，更是对天地秩序与人伦情义的敬畏。新婚夫妇执手共拜高堂，以示同 心同德、共度余生。中式婚礼，既是两心相许的深情结合，亦是人间情义最温润的注脚。周大生珠宝汲 取中式婚嫁文化中的经典元素，匠心打造幸福花嫁系列，让珠宝化作可佩戴的礼书。它不仅承载六礼所 象征的郑重与期许，更让古老仪典在当代焕发新生。值此马年新春，万象更新之际，周大生幸福花嫁系 列亦寄寓团圆美满之意。愿有情人终成眷属，岁岁年年 ...

Core Viewpoint - Zhou Dasheng Jewelry Co., Ltd. has disclosed the status of newly added self-operated stores for January 2026, emphasizing the company's commitment to transparency and accuracy in information disclosure [1] Group 1: New Store Openings - The company has reported the addition of new self-operated stores in January 2026, in accordance with the requirements of the Shenzhen Stock Exchange's industry information disclosure guidelines [1] - The total investment amount for these new stores includes initial inventory, renovations, props, fixed assets, and the transfer of goods from old stores to new ones [1] - The reported area pertains to either building area or leased area, with specifics to be confirmed in signed contracts [1] Group 2: Financial Data and Reporting - The operational data provided is preliminary and subject to final confirmation in periodic reports, highlighting the importance of accurate financial reporting [1] - The company assures that all members of the board guarantee the authenticity, accuracy, and completeness of the disclosed information, with no false records or misleading statements [1]

Core Viewpoint - The upcoming Chinese New Year has led to increased consumer activity in the Shenzhen Luohu Shuibei market, the largest gold and jewelry trading hub in China, despite rising gold prices and associated challenges for jewelry companies [1]. Group 1: Market Activity - The Shuibei market is bustling with both wholesale and retail customers, with gold prices displayed at 1292 yuan per gram [2]. - Consumer enthusiasm remains high, with individuals like Ms. Lu purchasing gold jewelry as a reward for their hard work, indicating a positive sentiment towards gold investment despite higher prices compared to last year [2]. - Retailers are adapting to changing consumer preferences, with a focus on smaller weight gold jewelry and innovative designs, such as gold phone stickers featuring popular motifs [2]. Group 2: Challenges Faced by Businesses - The significant fluctuation in raw material costs poses a major challenge for market dealers, prompting a shift from traditional inventory models to new strategies that reduce operational risks [2][3]. - Companies are facing doubled funding requirements for inventory, necessitating improved cash flow management and inventory optimization to alleviate financial pressure [3]. Group 3: Industry Responses - Companies in the gold jewelry sector are employing hedging strategies, product innovation, and channel expansion to capitalize on market opportunities amid fluctuating gold prices [4]. - Hedging has become a standard tool for larger listed companies to mitigate risks associated with gold price volatility, with firms like Beijing Caishikou Department Store engaging in hedging aligned with their business scale [4]. - Product innovation is crucial for maintaining competitiveness, with companies like Zhou Dasheng introducing lightweight and personalized gold products aimed at younger consumers [4]. - Channel development is essential, with companies like Chao Hong Ji actively pursuing an omnichannel strategy and expanding internationally, particularly in Southeast Asia [4].

周大生公告，2026年1月份新增3家自营门店。其中，北京东方 新天地专卖店面积为212.72平方米，总投 资金额为2380万元；海口CDF国际免税城专柜面积为79.21平方米，总投资金额为1060万元；杭州萧山 万象汇专卖店面积为289平方米，总投资金额为2830万元。新开门店主要经营素金和镶嵌类商品。 ...

证券代码：002867 证券简称：周大生 公告编号：2026-006 周大生珠宝股份有限公司 以上经营数据为初步统计数据，最终数据以定期报告为准，特提醒投资者注 意。 特此公告。 周大生珠宝股份有限公司 董事会 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 根据《深圳证券交易所上市公司自律监管指引第 3 号——行业信息披露 （2025 年修订）》第四章第八节珠宝相关业务的要求，周大生珠宝股份有限公 司现将 2026 年 1 月份公司新增自营门店概况披露如下： | 所在 | 序 门店名称 | 开设时间 | 经营 | 面积 | 总投资金 | 主要商品 | | --- | --- | --- | --- | --- | --- | --- | | 地区 | | | 形式 | (m 2) | 额（万元） | 类别 | | 华北 | 周大生国家宝藏北京东方新 天地专卖店 | 2026.1.17 | 专卖 店 | 212.72 | 2380 | 素金、镶嵌 | | CDF 国 | 周大生国家宝藏海口 华南 际免税城专柜 | 2026.1.17 | 联营 专柜 | 79. ...

Investment Rating - The report maintains a "Positive" outlook for the gold and jewelry sector [6] Core Insights - In 2025, despite a significant increase in gold prices, domestic consumption of gold jewelry is expected to decline sharply, while the consumption of gold bars and coins is projected to grow rapidly [2][4] - The report highlights that high gold prices will continue to impact the consumption structure of gold jewelry in 2026, with a notable shift towards investment-oriented products [2] - The differentiation and branding of leading companies in the sector are expected to drive growth, even amidst market pressures [3][9] Summary by Sections - **Market Trends**: In 2025, China's total gold consumption is estimated at 950.096 tons, a decrease of 3.57% year-on-year, with gold jewelry consumption dropping by 31.61% to 363.836 tons, while gold bars and coins consumption is expected to rise by 35.14% to 504.238 tons [2] - **Company Performance**: Companies with strong branding and differentiation, such as潮宏基,菜百股份, and周大福, are projected to show significant profit growth, with潮宏基's non-net profit growth estimated at 125%-175% [9] - **Investment Recommendations**: The report recommends focusing on companies with strong branding and international expansion strategies, specifically suggesting to "buy" or "hold" stocks of潮宏基,老铺黄金,老凤祥, and周大生 [4][9]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The report highlights Meituan's acquisition of Dingdong Maicai for approximately $717 million, aiming to enhance its instant retail supply chain efficiency. Dingdong Maicai has achieved profitability for 12 consecutive quarters and operates over 1,000 front warehouses in China, with a monthly purchasing user base exceeding 7 million [4][24][27] - The report emphasizes the importance of supply chain efficiency and product quality in the competitive landscape of the instant retail industry, suggesting that the focus will shift towards these aspects post-acquisition [27] Summary by Sections Industry Dynamics - Meituan's acquisition of Dingdong Maicai is expected to create synergies in supply chain, regional layout, and warehouse scale, enhancing operational efficiency in the East China region [24][27] - Dingdong Maicai's established direct sourcing and self-operated production capabilities are anticipated to be preserved and amplified within Meituan's platform [27] Investment Themes - Investment Theme 1: Focus on high-end and fashionable gold jewelry brands, recommending companies like Laopuhuangjin and Chaohongji, which are expected to benefit from the emotional consumption trend [6][29] - Investment Theme 2: Emphasize retail companies adapting to trends and AI-enabled cross-border e-commerce leaders, with recommendations for Yonghui Supermarket and Aiyingshi [6][29] - Investment Theme 3: Highlight domestic beauty brands that cater to emotional value and innovative safe ingredients, recommending brands like Maogeping and Pola [6][29] - Investment Theme 4: Focus on differentiated medical beauty product manufacturers and leading chain medical beauty institutions, recommending Meilitiantian Medical Health and Aimeike [6][29] Market Performance - The retail and social service indices reported a slight decline of 0.34% and a slight increase of 0.02% respectively during the week of February 2 to February 6, 2026 [14][15] - The brand cosmetics sector showed the highest weekly increase of 4.99%, while the watch and jewelry sector led with a year-to-date increase of 16.56% [16][19] Company Highlights - Laopuhuangjin reported a significant revenue increase of 250.9% in FY2025H1, driven by brand expansion and customer base growth [31][32] - Chaohongji is expected to achieve a net profit growth of 125% to 175% in 2025, supported by differentiated product strength and multi-channel marketing [31][32] - Meilitiantian Medical Health anticipates a net profit increase of at least 34% in 2025, driven by both internal growth and acquisitions [39][40]

Group 1 - The company Zhou Dasheng announced that it will accept investor research from Hai Futong Fund and other investors on February 4, 2026, with representatives Zhou Xiaoda and Rong Huan participating in the reception and answering investor questions [1] Group 2 - The article discusses Kevin Warsh's new policy concept, which involves a dual approach of monetary easing and tightening, aiming to control inflation with the help of AI, while rejecting the role of being a major buyer of U.S. Treasury bonds [1]

投资者关系活动类别 ☑ 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他(电话会议) 参与单位名称 及人员姓名 共计 12 位投资者（排名不分先后）： 海富通基金：陈涛 博时基金：王晗 兴业证券：张彬鸿 兴业基金：朱约之 创金合信：胡尧盛 招商基金：胡天翔 万家基金：丁玉杰 鹏扬基金：袁天娇 易方达基金：涂心萌 信达澳银：马绮雯 长城证券：黄佳 华创证券：周星宇 时 间 2026 年 2 月 4 日 地 点 总部会议室 上市公司接待人员 姓名 证券事务代表：周晓达、荣欢 投资者关系活动 主要内容介绍 一、 问答环节： 投资者主要就行业情况、终端销售情况、品牌矩阵、产品结构及毛 利率情况、分红情况等进行了交流，并参观了公司展厅，可参阅前次活 动记录表之问答和已披露公告。 接待过程中，公司严格按照《信息披露管理制度》等规定，保证信 息披露的真实、准确、完整、及时、公平，没有出现未公开重大信息泄 露等情况。同时，现场调研的投资者已按深交所要求签署承诺函。 代码：002867 证券简称：周大生 编号：2026-008 | 附件清单（如有） | 无 | | --- | ...

Group 1 - The core viewpoint of the article highlights that gold leasing has become a standard practice for jewelry companies to mitigate inventory impairment risks due to fluctuating gold prices [1] - On February 2, Zhou Dasheng announced that its board approved a proposal to conduct gold leasing transactions with a maximum limit of 4,000 kilograms for the fiscal year 2026 [1] - Since its listing in 2017, Zhou Dasheng has engaged in gold leasing annually, with transaction limits increasing from 1,500 kilograms to a peak of 5,000 kilograms [1]