Summary of Conference Call Company and Industry - The conference call primarily discusses the jewelry industry, specifically focusing on a company involved in gold and jewelry sales, as well as its product offerings and market strategies. Key Points and Arguments 1. **Sales Performance and Market Trends** - The company anticipates a year-on-year improvement in sales for the first quarter, although the growth may not be significant due to high gold prices affecting consumer behavior [1][2] - The worst sales performance was noted in the second quarter of the previous year, with expectations of gradual recovery in subsequent quarters [2] 2. **Product Development and Branding** - The company is leveraging the concept of "National Treasures" to enhance product offerings and store branding, which has led to improved sales and market presence in high-end shopping centers [3][4] - There is a focus on creating a product line that incorporates well-known cultural artifacts, which has shown to significantly increase product pricing and consumer interest [3] 3. **Store Expansion and Market Penetration** - The company has opened over 100 new stores in the past year, with expectations to exceed this number by year-end [7] - The introduction of themed stores based on the "National Treasures" concept has allowed the company to enter previously inaccessible high-end retail channels [4] 4. **New Product Lines** - A new brand called "Zhu Chuang" has been launched, focusing on a niche market within the jewelry sector, which has shown promising initial sales performance [10] - The company is exploring various materials and product types to cater to emerging consumer demands, particularly in smaller, high-margin product categories [11][12] 5. **Sales Strategy and Pricing** - The company is adjusting its pricing strategy, with a notable shift towards fixed-price offerings, which currently account for approximately 10-20% of total sales volume [14] - The overall sales strategy is aimed at maintaining a stable dividend policy, reflecting a strong cash flow position without significant capital expenditures [15] 6. **E-commerce and Market Expansion** - Plans for expanding e-commerce operations are underway, with a focus on international markets, particularly through platforms like Amazon [16] - The company is also considering adjustments to its supply chain and service offerings to enhance overall market competitiveness [18] Other Important Content - The discussion highlighted the impact of high gold prices on consumer behavior, with some consumers looking to liquidate assets while others are entering the market [8] - The company is in the preparatory stages for potential new branding initiatives, which may include collaborations with state-owned entities, although these plans are still uncertain [5][6] - The conference concluded with an invitation for investors to engage further regarding the jewelry industry and the company's future prospects [19]

Group 1 - The price of 24K gold jewelry varies among different brands, with 周大生 and 黑直营 both pricing their products at 990 yuan per gram [2] - 菜百首饰 offers a slightly lower price of 950 yuan per gram for its 24K gold jewelry [2] - Other brands such as 潮宏基, 谢瑞麟, 金至尊, and 周六福 also maintain a consistent price of 990 yuan per gram for their 24K gold products [2]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report emphasizes the ongoing impact of tariff shocks and suggests focusing on high-quality retail channels and differentiated consumer brands that cater to domestic demand [4][22] - The report highlights the transformation of traditional retail, with Yonghui Supermarket leading the way in adapting to a consumer-centric retail era [4][22] - The rise of domestic brands and the recovery of consumer demand are seen as inevitable trends, with recommendations to focus on quality retail channels and differentiated brands [4][22] Summary by Sections Retail Market Review - The retail industry index rose by 2.88% during the week of April 7 to April 11, outperforming the Shanghai Composite Index, which fell by 3.11% [6][13] - The supermarket sector showed the largest increase, with a weekly rise of 13.54% [14][17] - Notable individual stock performances included Guofang Group (+61.1%), Eurasia Group (+26.3%), and Nanning Department Store (+22.4%) [19][20] Industry Dynamics - Yonghui Supermarket has opened a "green channel" for domestic manufacturers affected by export restrictions, receiving over 100 cooperation requests from various sectors [4][22] - The report discusses the approval of a new collagen product by Jinbo Bio, which is expected to strengthen its leading position in the medical beauty sector [4][23] Investment Recommendations - Investment focus areas include: - Traditional retail: Highlighting companies like Yonghui Supermarket and Aiyingshi that are adapting to consumer trends [7][27] - Gold and jewelry: Recommendations for brands like Laopu Gold and Chaohongji that possess differentiated product capabilities [7][28] - Cosmetics: Emphasizing domestic brands such as Maogeping and Shangmei that are expanding into high-potential segments [7][28] - Medical aesthetics: Focusing on companies like Aimeike and Kedi that are positioned to benefit from the recovery in medical beauty consumption [7][28] Company-Specific Insights - Laopu Gold reported a revenue of 8.506 billion yuan (+167.5%) and a net profit of 1.473 billion yuan (+253.9%) for FY2024, indicating strong growth potential [29] - Yonghui Supermarket's revenue for the first three quarters of 2024 was 54.549 billion yuan (-12.1%), with a net loss of 78 million yuan, but it is undergoing significant transformation [32] - Jinbo Bio's new collagen product is expected to provide both immediate filling effects and stimulate collagen regeneration, enhancing its competitive edge in the market [23][24]

2025年4月9日至14日，恰逢中意建交 55 周年的重要时刻，深圳(龙华)·米兰双城时尚周如期盛大启幕。 作为跨越东西方的文化碰撞，此次活动实现了深圳的创新基因与米兰的文艺复兴美学深度融合，成为中 意文化交流进程的重要见证。值得一提的是，这场意义非凡的盛会吸引了包括周大生在内的众多知名品 牌汇聚一堂，集中展示品牌的创新性成果和文化积淀。周大生国际设计创意总监Loretta Baiocchi女士作 为代表莅临开幕式现场，共同见证这一重要时刻。这不仅是品牌实力的有力展现，更是中意两国在时尚 领域合作的生动写照，为全球时尚产业注入了全新活力与非凡灵感。 周大生幸福花嫁系列——"凤凰于飞" 以产品为纽带，推动东西方文化交融与全球对话 周大生在此次双城时尚周展出的幸福花嫁"凤凰于飞"套系，不仅是对中国传统婚嫁文化的创新演绎，更 是品牌文化与价值的集中展现。并借此为纽带，与米兰这座文艺复兴之城展开深度对话，向世界证明了 周大生国际设计创意总监Loretta Baiocchi女士 古老神圣的殿堂中，传统与现代时尚的时空交汇 据悉，本次双城时尚周展览位于米兰圣维托雷教堂建筑群内，一座面积达350平方米的展馆。这座建于 11 ...

Group 1 - The core point of the article highlights a significant increase in domestic gold jewelry prices, with some prices returning to 960 yuan per gram [1] - Major brands in the domestic market have experienced a consecutive price increase, with an average rise of nearly 30 yuan [1] Group 2 - Specific brands and their gold prices include: - Zhou Dasheng: 960 yuan per gram - Caibai Jewelry: 913 yuan per gram - Chao Hong Ji: 960 yuan per gram - TSL: 960 yuan per gram - King of Gold: 960 yuan per gram - Zhou Liufu: 960 yuan per gram [5]

证券代码：002867 证券简称：周大生 公告编号：2025-010 周大生珠宝股份有限公司 公司于 2021 年 6 月 24 日召开第四届董事会第二次会议审议通过了《关于公 司回购部分社会公众股份的议案》，同意使用自有资金以集中竞价交易方式回购 公司部分社会公众股份，用于实施股权激励或员工持股计划，如公司未能在股份 回购完成之后 36 个月内实施上述用途，则公司回购的股份将依法予以注销。本 次回购总金额为 15,000 万元-30,000 万元，回购价格不超过 27.68 元/股（含）， 回购实施期限为自董事会审议通过本次回购方案之日起 12 个月内。具体内容详 见公司于 2021 年 6 月 29 日在巨潮资讯网（www.cninfo.com.cn）披露的《关于 回购部分社会公众股份的回购报告书》（公告编号：2021-034）。 公司实际回购股份区间为 2021 年 7 月 27 日至 2022 年 3 月 28 日，公司通 过回购专用证券账户，以集中竞价方式累计回购了公司股份 10,452,372 股，占 公司截至当前总股本的 0.95%，最高成交价为 20.64 元/股，最低成交价为 13.18 元 ...

证券代码：002867 证券简称：周大生 公告编号：2025-011 周大生珠宝股份有限公司 关于召开 2025 年第一次临时股东大会的通知 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。 一、召开会议的基本情况 1. 股东大会届次：周大生珠宝股份有限公司（以下简称"公司"）2025 年 第一次临时股东大会。 2. 股东大会的召集人：公司董事会。公司董事会于 2025 年 3 月 28 日召开 第五届董事会第五次会议，审议通过了《关于注销回购股份并减少注册资本的议 案》，决定于 2025 年 4 月 18 日召开公司 2025 年第一次临时股东大会。 3. 会议召开的合法、合规性：本次股东大会的召开符合《中华人民共和国 公司法》、《上市公司股东大会规则》、《深圳证券交易所上市公司自律监管指 引第 1 号——主板上市公司规范运作》等法律、法规、规范性文件及《公司章程》 的相关规定。 4. 会议召开的日期、时间： 5. 会议的召开方式：本次股东大会采用现场表决与网络投票相结合的方式 召开。 （1） 现场表决：股东本人出席现场会议或者通过授权委托书委托他人出 1 7 ...

周大生珠宝股份有限公司（以下简称"公司"）第五届监事会第五次会议于 2025 年 3 月 28 日以现场会议方式召开。公司于 2025 年 3 月 25 日以书面方式向 公司全体监事发出了会议通知。本次会议应出席监事 3 人，实际出席监事 3 人， 本次会议由监事会主席戴焰菊召集及主持。本次会议的召集、召开程序符合《公 司法》、《公司章程》及《监事会议事规则》的有关规定。 二、监事会会议审议情况 证券代码：002867 证券简称：周大生 公告编号：2025-009 周大生珠宝股份有限公司 第五届监事会第五次会议决议公告 本公司及监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。 一、监事会会议召开情况 三、备查文件 1.第五届监事会第五次会议签字文件。 周大生珠宝股份有限公司 监事会 2025 年 4 月 1 日 1、审议通过《关于注销回购股份并减少注册资本的议案》 表决结果：同意 3 票；反对 0 票；弃权 0 票。 根据《公司法》、《上市公司股份回购规则》、《深圳证券交易所上市公司自律 监管指引第 9 号——回购股份》等相关规定，为维护公司价值和股东权益，优化 公司资 ...

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。 一、董事会会议召开情况 周大生珠宝股份有限公司（以下简称"公司"）第五届董事会第五次会议通 知于 2025 年 3 月 25 日以通讯及电子邮件等形式送达全体董事，会议于 2025 年 3 月 28 日以通讯方式召开。本次会议应出席董事 11 人，实际出席董事 11 人。 本次会议由董事长周宗文先生主持。本次会议的召集、召开和表决程序均符合《公 司法》、《公司章程》及《董事会议事规则》的有关规定。 二、董事会会议审议情况 1、审议通过《关于注销回购股份并减少注册资本的议案》 表决结果：同意 11 票；反对 0 票；弃权 0 票。 证券代码：002867 证券简称：周大生 公告编号：2025-008 周大生珠宝股份有限公司 第五届董事会第五次会议决议公告 2、审议通过《关于召开 2025 年第一次临时股东大会的议案》 表决结果：同意 11 票；反对 0 票；弃权 0 票。 同意于 2025 年 4 月 18 日 15:00 召开 2025 年第一次临时股东大会。 《关于召开 2025 年第一次临时股东大会的通知》（ ...

金价看涨！2025年3月24日各大金店黄金价格多少钱一克？ | 今日金店黄金回收价格一览（2025年3月24日） | | | | --- | --- | --- | | 回收报价 | 今日金价 | 单位 | | 黄金 | 695.00 | 元/克 | | 菜自黄金 | 681. 40 | 元/克 | | 周生生黄金 | 679.00 | 元/克 | | 周大福黄金 | 683. 60 | 元/克 | | 老凤祥黄金 | 689.00 | 元/克 | 说完实物黄金价格，我们再来讲讲国际金价情况： 上周五金价受美元走强以及部分投资者提前获利了结影响，最低跌破3000美元。后受避险情绪支撑有所回升，最终收报 3023.61美元/盎司，跌幅0.69%。今日金价震荡，截至发稿，现货黄金暂报3024.73美元/盎司，涨幅0.04%。 目前在中东局势上，以色列上周还对黎巴嫩发动了空袭，据称目标是黎境内的恐怖分子。美官员则在昨日表示已成功打击 胡塞武装关键领导层，寻求完全拆除伊朗核计划。伊朗外长也在昨日表示，当前情况下伊朗已不可能再与美国进行谈判。 此外，上周五有多位美联储官员放鹰称降息仍需谨慎，但市场对美联储未来降息预期还 ...