Market Overview - The jewelry sector experienced a decline of 1.45% on September 15, with Mankalon leading the drop [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Individual Stock Performance - Mankalon (300945) saw a significant drop of 4.76%, closing at 21.61 with a trading volume of 249,400 shares and a turnover of 542 million yuan [2] - Other notable declines include: - Cuihua Jewelry (002731) down 3.76% to 13.30 [2] - Laixitongling (603900) down 2.96% to 11.16 [2] - Diya Co. (301177) down 2.43% to 36.54 [2] - Conversely, Lao Fengxiang (600612) increased slightly by 0.42% to 55.18 [1] Trading Volume and Capital Flow - The jewelry sector experienced a net outflow of 284 million yuan from main funds, while retail investors saw a net inflow of 328 million yuan [2] - The trading volume for key stocks included: - Mankalon: 249,400 shares [2] - Cuihua Jewelry: 125,600 shares [2] - Gold China (600916): 378,400 shares [2]

Market Overview - The jewelry sector increased by 0.38% on September 12, with Mankalon leading the gains [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] Key Performers - Mankalon (300945) closed at 22.82, up 4.49% with a trading volume of 284,900 shares and a transaction value of 6.42 billion [1] - Other notable performers include: - Deep China A (000017) at 7.27, up 1.96% [1] - Cai Zhi Co. (665509) at 14.69, up 1.94% [1] - Ying Xitong Ling (603900) at 11.58, up 1.14% [1] - China Gold (600916) at 8.68, up 1.05% [1] Fund Flow Analysis - The jewelry sector saw a net inflow of 93.53 million from institutional investors, while retail investors experienced a net outflow of 27.79 million [2] - Mankalon had a net outflow of 43.11 million from institutional investors, indicating a shift in investment sentiment [3] - Deep China A experienced a net inflow of 23.93 million from institutional investors, suggesting strong interest [3] Summary of Individual Stocks - Mankalon: - Closing Price: 22.82, Change: +4.49%, Net Institutional Inflow: -43.11 million [1][3] - Deep China A: - Closing Price: 7.27, Change: +1.96%, Net Institutional Inflow: 23.93 million [1][3] - China Gold: - Closing Price: 8.68, Change: +1.05%, Net Institutional Inflow: 736.78 million [3]

Group 1 - The company announced the opening of a new self-operated store, DR Nanjing Jiangbei Impression Hui, scheduled for August 2025 [2]

关于公司 2025 年 8 月新增自营门店情况的公告 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》的 要求，迪阿股份有限公司（以下简称"公司"）现将 2025 年 8 月新增自营门店情 况公告如下： | 序号 | 门店名称 | 所在地区 | 开设时间 | 经营 | 面积 | 投资金额 | 主要商品 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 形式 | （m2） | （万元） | 类别 | | 1 | DR 南京江北 印象汇店 | 江苏省 | 2025/8/2 | 直营 | 36 | 114.04 | 镶嵌饰品 | 证券代码：301177 证券简称：迪阿股份 公告编号：2025-053 迪阿股份有限公司 特此公告。 迪阿股份有限公司董事会 2025 年 9 月 10 日 注：上述投资金额主要包括门店装修、首次铺货、固定资产及道具。 以上新增自营门店经营数据为公司初步统计数据，最终数据以定期报告为 准，特此提醒投资 ...

Market Overview - The jewelry sector experienced a decline of 2.21% on September 10, with Chao Hong Ji leading the drop [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Individual Stock Performance - Notable declines in individual stocks include: - Chao Hong Ji (002345) down 6.23% with a closing price of 15.05 and a trading volume of 360,300 shares [2] - Mankalon (300945) down 4.96% with a closing price of 22.82 and a trading volume of 377,600 shares [2] - China Gold (600916) down 2.03% with a closing price of 8.68 and a trading volume of 737,300 shares [2] - Other stocks such as Lao Feng Xiang (600612) and Zhou Da Sheng (002867) also saw declines of 0.72% and 1.44% respectively [1][2] Capital Flow Analysis - The jewelry sector saw a net outflow of 430 million yuan from institutional investors, while retail investors contributed a net inflow of 422 million yuan [2][3] - The capital flow for key stocks indicates: - Chao Hong Ji had a net outflow of 79.22 million yuan from institutional investors [3] - China Gold experienced a net outflow of 63.42 million yuan from institutional investors [3] - Lao Feng Xiang had a net outflow of 54.84 million yuan from institutional investors [3] Summary of Trading Data - The trading data for the jewelry sector shows significant activity with total trading volumes and values across various stocks, indicating a mixed sentiment among investors [1][2][3]

Group 1 - The core viewpoint of the article highlights the active performance of gold-related stocks, with significant gains observed in companies such as Diya Shares, which rose nearly 10% [1] - On September 8, the London spot gold price surpassed $3,600 per ounce, reaching a peak of $3,635 per ounce, marking a new historical high [1]

Group 1 - Gold concept stocks experienced a significant rise, with Diya Co., Ltd. (301177) increasing by over 10% [1] - Other companies such as Shen Zhonghua A (000017), Xiaocheng Technology (300139), Chaohongji (002345), and Mankalon (300945) also saw gains [1] - The gold stock ETFs, specifically Gold Stock ETF (517520), rose by 1.5% with a transaction volume of 54.79 million yuan, while Gold Stock ETF (159562) increased by 2.09% with a transaction volume of 8.94 million yuan [1] Group 2 - The rise in gold stocks follows a trend of international gold prices reaching historical highs [1]

Core Viewpoint - The company reported a mixed performance in its mid-year results for 2025, with a slight increase in revenue but a significant improvement in net profit, indicating resilience in a challenging industry environment [1][3]. Revenue Summary - For the first half of 2025, the company generated revenue of 790 million yuan, a year-on-year increase of 1.0%. The net profit attributable to shareholders was 76 million yuan, up 131.6% year-on-year, while the net profit excluding non-recurring items turned positive at 2 million yuan [1]. - In Q2 2025, revenue reached 380 million yuan, reflecting a year-on-year growth of 7.5%. The net profit attributable to shareholders improved significantly to 55 million yuan, while the net profit excluding non-recurring items showed a notable reduction in losses at -4 million yuan [1][2]. - Revenue breakdown for H1 2025 included online self-operated sales of 150 million yuan (up 61.7% year-on-year), offline direct sales of 560 million yuan (down 9.5%), and offline joint venture sales of 60 million yuan (down 0.4%). The company closed 35 underperforming stores, reducing the total to 338, while same-store sales for direct and joint venture stores improved by 27% and 26%, respectively [1]. Profitability Summary - In Q2 2025, the gross margin was 67.0%, an increase of 1.0 percentage point year-on-year, indicating a halt in the decline of gross margin [2]. - The expense ratios for sales, management, and finance were 49.5%, 8.8%, and 4.9%, respectively, with year-on-year changes of -8.4, -2.0, and +3.4 percentage points. The decrease in sales expenses aligned with the reduction in store numbers, while the increase in financial expenses was primarily due to foreign exchange losses [2]. Profit Forecast and Investment Suggestion - The diamond setting industry has faced ongoing pressure, impacting the company's financial performance. However, the company has maintained its brand positioning focused on "one true love" and has implemented multi-dimensional reforms across branding, products, retail, and organization [3]. - In Q2, the company achieved its first positive revenue growth in three years, driven by same-store improvements, and the gross margin began to recover [3]. - As of the end of Q2 2025, the company held 4.6 billion yuan in cash and financial assets, indicating a healthy overall asset and cash flow situation that supports its multi-brand, omni-channel, and global strategy [3]. - The company anticipates net profits of 140 million yuan and 190 million yuan for 2025 and 2026, respectively, and maintains a "recommended" rating [3].

（编辑 任世碧） 证券日报网讯 9月4日晚间，迪阿股份发布公告称，截至本公告披露日，公司及其控股子公司的担保额 度总金额为65，630.00万元（含本次对外担保），占公司最近一期经审计净资产的10.38%，提供担保总 余额为13，186.39万元，占公司最近一期经审计净资产的2.09%，公司及控股子公司没有对合并报表范 围外的公司提供任何担保。公司及控股子公司无逾期担保、涉及诉讼的担保及因担保被判决败诉的情 形。 ...

Group 1 - The A-share market showed mixed performance on September 3, with the Shanghai Composite Index down by 1.16%, the Shenzhen Component Index down by 0.65%, and the ChiNext Index up by 0.95 [1] - The precious metals sector performed well, with West Gold reaching the daily limit up and Zhaojin Gold increasing by nearly 7% [1] - Notable stock performances included West Gold with a 10% increase, Jiaye Group at 9.97%, and Zhaopin at 6.93% [1] Group 2 - Gold futures in New York reached a historic high, surpassing $3600, while spot gold prices exceeded $3540 per ounce [4] - Major domestic jewelry brands reported rising prices for gold jewelry, with Chow Tai Fook and Luk Fook Jewelry pricing their gold at 1053 RMB per gram [4] - The Shanghai Gold Exchange announced adjustments to margin levels and price limits for certain contracts, increasing the margin for gold contracts from 13% to 14% and for silver contracts from 16% to 17% [4]