Core Viewpoint - The trend of A-share listed companies purchasing bank wealth management products is declining, with a total subscription amount of 839.976 billion yuan, down 14.32% year-on-year, as companies shift focus towards core business operations and stock market investments [1][2]. Group 1: Wealth Management Product Subscription Trends - As of October 22, 2023, 1,112 A-share listed companies subscribed to 13,300 wealth management products, with a total subscription amount of 839.976 billion yuan, reflecting a year-on-year decline of 14.32% [1]. - Among the purchased bank wealth management products, structured deposits are the preferred choice, with a subscription amount of 508.203 billion yuan, accounting for 60.5% of the total, although this represents an 18.93% year-on-year decline [1]. - The subscription amount for bank wealth management products reached 87.026 billion yuan, making up 10.36% of the total, with a year-on-year decrease of 2.96% [1]. Group 2: Reasons for Decline in Bank Wealth Management Purchases - The decline in the scale of bank wealth management product purchases is attributed to three main factors: companies responding to regulatory calls to allocate funds towards core operations, cash dividends, and share buybacks; a general decrease in the yield of wealth management products due to falling market interest rates; and a favorable stock market encouraging direct stock investments [2]. - In the first half of the year, 788 listed companies engaged in securities investments, holding a total of 2,921 securities with an investment amount of 1.4 trillion yuan, significantly exceeding the amount invested in wealth management products [2]. Group 3: Rise in Securities Firm Wealth Management Product Purchases - Despite the overall decline in wealth management product purchases, the scale of securities firm wealth management product subscriptions has increased, with 244 listed companies purchasing a total of 56.159 billion yuan, marking an 8.1% year-on-year growth [2][3]. - Among the companies purchasing securities firm wealth management products, 115 companies subscribed for amounts exceeding 100 million yuan, with Jiangsu Guotai leading at 6.091 billion yuan [3]. Group 4: Factors Driving the Shift to Securities Firm Products - The increase in securities firm wealth management product subscriptions is driven by a relatively small base, allowing for noticeable growth with minimal fund shifts from bank products [3]. - Companies are attracted to securities firm products due to their professional investment capabilities, especially in a favorable stock market environment, which enhances the perceived potential for higher returns compared to bank products [3][4]. - The safety of securities firm wealth management products is comparable to that of bank products, as they are regulated by the China Securities Regulatory Commission, reducing concerns about potential losses [4].

Market Overview - The jewelry sector increased by 0.84% on October 27, with ST Xinhua Jin leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Individual Stock Performance - ST Xinhua Jin (600735) closed at 6.02, up 5.06% with a trading volume of 513,300 shares and a turnover of 294 million yuan [1] - Chao Hong Ji (002345) closed at 13.57, up 4.38% with a trading volume of 253,200 shares and a turnover of 34 million yuan [1] - Man Ka Long (300945) closed at 18.04, up 1.46% with a trading volume of 103,100 shares and a turnover of 185 million yuan [1] - Di A Shares (301177) closed at 33.12, up 1.38% with a trading volume of 16,000 shares and a turnover of 52.55 million yuan [1] - Other notable stocks include Rui Beika (600439) at 2.90, up 0.69%, and Jin Yi Culture (002721) at 3.38, up 0.60% [1] Capital Flow Analysis - The jewelry sector saw a net inflow of 63.18 million yuan from main funds, while retail funds experienced a net outflow of 29.35 million yuan [2] - Main funds showed significant inflows in ST Xinhua Jin (28.17 million yuan) and Chao Hong Ji (26.85 million yuan) [3] - Conversely, China Gold (600916) had a net inflow of 15.71 million yuan from retail funds, despite a net outflow from main and speculative funds [3]

Core Insights - The jewelry sector experienced a decline of 0.44% on October 24, with Deep China A leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - ST Xinhua Jin (600735) saw a closing price of 5.73, with an increase of 4.18% and a trading volume of 392,000 shares, totaling 224 million yuan [1] - Chao Hong Ji (002345) closed at 13.00, up 2.04%, with a trading volume of 224,500 shares, amounting to 288 million yuan [1] - Other notable stocks include Diya Co. (301177) at 32.67 (-0.03%), Zhou Dazheng (002867) at 13.64 (-0.07%), and Lao Feng Xiang (600612) at 48.67 (-0.41%) [1] Capital Flow - The jewelry sector saw a net outflow of 117 million yuan from main funds, while retail investors contributed a net inflow of 149 million yuan [2] - The main funds showed a significant outflow from stocks like Fei Ya Da (000026) with a net outflow of 7.34 million yuan and Jin Yi Culture (002721) with a net outflow of 8.34 million yuan [3] Individual Stock Capital Flow - Rebecca (600439) had a main fund net inflow of 6.30 million yuan, while it experienced a net outflow from retail investors of 3.95 million yuan [3] - Mingpai Jewelry (002574) saw a main fund net inflow of 5.90 million yuan but a net outflow from retail investors of 8.17 million yuan [3] - Lao Feng Xiang (600612) had a main fund net inflow of 4.39 million yuan, with retail investors also showing a net outflow [3]

Market Overview - The jewelry sector experienced a decline of 1.89% on October 22, with Mankalon leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Individual Stock Performance - Mankalon's stock price fell by 7.46% to 18.62, with a trading volume of 247,600 shares and a transaction value of 468 million yuan [2] - Other notable declines include: - Chao Hong Ji down 3.95% to 13.60 - Feiya down 3.84% to 17.05 - Cai Zi down 1.32% to 14.23 [2] Capital Flow Analysis - The jewelry sector saw a net outflow of 263 million yuan from institutional investors, while retail investors contributed a net inflow of 226 million yuan [2][3] - The detailed capital flow for selected stocks includes: - Zhou Dazheng: Institutional net inflow of 3.06 million yuan, retail net outflow of 3.40 million yuan [3] - Lao Feng Xiang: Institutional net outflow of 487,200 yuan, retail net inflow of 411,520 yuan [3] - Mingpai Jewelry: Institutional net outflow of 2.25 million yuan, retail net inflow of 5.18 million yuan [3]

Core Viewpoint - The company, Diya Co., Ltd. (301177), is actively monitoring the recent adjustments in the Hainan duty-free shopping policy and is positioned to leverage potential market opportunities to enhance operational efficiency and provide stable returns to shareholders [1]. Group 1: Company Performance - As of October 20, 2025, Diya Co., Ltd. closed at 32.63 yuan, reflecting an increase of 0.83% with a turnover rate of 0.52% and a trading volume of 20,700 shares, resulting in a transaction value of 67.16 million yuan [1]. - On the same day, the net outflow of main funds was 4.09 million yuan, while retail investors saw a net inflow of 5.25 million yuan [1]. Group 2: Business Operations - The company has established stores in Hainan and is operating normally, indicating a commitment to adapt to national policies and industry developments [1]. - The company plans to disclose updates on new self-operated stores monthly, reflecting its proactive approach to business growth in response to market changes [1].

Core Viewpoint - The rising gold prices since 2025 have highlighted gold's status as a traditional "hard currency," attracting global investor and consumer attention. Amid inflation, geopolitical tensions, and risk aversion, the DR brand under Diya Co., Ltd. has introduced a wedding gold set that transcends mere precious metal attributes, evolving into a new paradigm of emotional assets that blend technology, craftsmanship, and cultural significance [2][3][4]. Group 1: Product Innovation - The DR brand's "Qianjin Crown" represents a disruptive innovation in the traditional wedding gold industry, combining wedding gold with emotional commitment and modern aesthetics [3][4]. - The DR crown features a unique convertible structure, allowing various jewelry pieces to transform into a crown, enabling seamless transitions from wedding ceremonies to everyday wear [4][6]. - Each DR crown comes with a unique coding and collection certificate, enhancing its scarcity and uniqueness, thus positioning it as a collectible emotional asset that can be passed down through generations [5][6]. Group 2: Cultural and Emotional Significance - The DR wedding gold set integrates high-purity gold, symbolizing cultural heritage and family legacy, while also reflecting modern marriage aesthetics [7][8]. - The design philosophy merges Eastern and Western aesthetics, creating a contemporary expression of traditional symbols, which resonates with consumers' desires for both spiritual value and aesthetic quality [8][9]. - The emotional value of the DR wedding gold set is emphasized as a counterbalance to the rising gold prices, shifting consumer motivations from mere asset preservation to emotional expression [9]. Group 3: Market Positioning - Diya Co., Ltd. positions itself as a leading custom gold brand in China, expanding the boundaries of personalization in wedding gold design [7]. - The brand's innovative craftsmanship and emotional warmth aim to redefine industry standards and cater to the emotional consumption market [3][6]. - The DR wedding gold set is designed to embody the spirit of modern women, symbolizing both princess-like elegance and queenly confidence [3][4].

Market Overview - The jewelry sector increased by 0.85% on October 15, with ST Xinhua Jin leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Individual Stock Performance - ST Xinhua Jin (600735) closed at 4.57, with a rise of 5.06% and a trading volume of 318,200 shares, amounting to a transaction value of 140 million yuan [1] - Other notable performers include: - Cuihua Jewelry (002731) at 13.55, up 2.65% [1] - Caizhi Co. (6655509) at 15.20, up 2.63% [1] - Chaohongmu (002345) at 14.73, up 2.58% [1] - Mankalon (300945) at 21.79, up 2.35% [1] Capital Flow Analysis - The jewelry sector saw a net inflow of 2.9829 million yuan from institutional investors, while retail investors contributed a net inflow of 28.087 million yuan [2] - However, there was a net outflow of 31.0699 million yuan from speculative funds [2] Detailed Capital Flow for Selected Stocks - ST Xinhua Jin had a net inflow of 15.7082 million yuan from institutional investors, but a net outflow of 4.5480 million yuan from speculative funds [3] - Chaohongji (002345) experienced a net inflow of 9.0915 million yuan from institutional investors, with a net inflow of 3.8748 million yuan from speculative funds [3] - Other stocks like Gold One Culture (002721) and Cuihua Jewelry (002731) also showed varying levels of net inflows and outflows from different investor types [3]

Market Overview - The jewelry sector increased by 1.18% on October 14, with Mankalon leading the gains [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Individual Stock Performance - Mankalon (300945) closed at 21.29, up 3.96% with a trading volume of 387,200 shares and a turnover of 829 million yuan [1] - Xinhua Jewelry (002731) closed at 13.20, up 2.56% with a trading volume of 237,900 shares and a turnover of 318 million yuan [1] - Other notable performers include: - Caizhi Co. (665569) at 14.81, up 1.93% [1] - Laofengxiang (600612) at 50.38, up 1.78% [1] - Xinxitongling (603900) at 10.48, up 1.75% [1] Capital Flow Analysis - The jewelry sector saw a net inflow of 138 million yuan from institutional investors, while retail investors experienced a net outflow of 47.98 million yuan [2] - Major stocks with significant capital inflows include: - ST Xinhua Jin (600735) with a net inflow of 63.15 million yuan [3] - Chaohongji (002345) with a net inflow of 25.95 million yuan [3] - China Gold (600916) with a net inflow of 16.89 million yuan [3]

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，特此提醒投资者注意投资风险。 特此公告。 迪阿股份有限公司董事会 关于公司 2025 年 9 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 9 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 | 自贡爱琴海 店 | 四川省 | 2025/9/17 | 直营 | 25 | 94 | 镶嵌饰品 | | 2 | DR | 淮安万象城 店 | 江苏省 | 2025/9/20 | 联营 | 42 | 118 | 镶嵌饰品 | | 3 | DR | 阜阳商 ...

证券代码：301177 证券简称：迪阿股份 公告编号：2025-055 序 号 购买 主体 签约 金融机构 产品名称 产品 类型 购买金额 （万元） 截至公告 披露日 资金余额 （万元） 起息日 到期日 预期 年化 收益率 1 深圳唯爱 智云科技 有限公司 中国民生 银行股份 有限公司 深圳东门 支行 聚赢黄金-挂钩 黄金 Au9999 看 涨三元结构性 存款 (SDGA252242 V) 保本浮 动收益 型 1,500.00 1,500.00 2025/7/25 2025/10/24 0.90%或 1.79%或 2.06% 2 迪阿股份 广发证券 股份有限 公司 广发证券收益 凭证"收益宝" 16 号 本金保 障浮动 收益型 6,000.00 6,000.00 2025/7/25 2026/7/22 0.10%或 3.05% 3 迪阿股份 华泰证券 华泰证券聚益 本金保 5,000.00 5,000.00 2025/7/29 2026/7/23 2.50%或 一、本次使用部分闲置募集资金（含超募资金）进行现金管理的基本情况 | 序 | 购买 | 签约 | | 产品 | 购买金额 | 截至公告 披露日 | | ...