新消费派｜半年回收量大涨589%！金价震荡催生“自助回收机”新模式

Core Insights - The price of gold has been fluctuating at high levels since 2025, leading to a surge in the gold recycling market as consumers seek to cash in at peak prices [1] - The rise in gold recycling demand has exposed issues within the traditional gold recycling market, including hidden clauses behind high recycling prices and weight discrepancies during assessments [1][8] - Smart gold trading terminals, which emphasize digitalization and transparency, are gaining traction in major shopping centers, potentially creating new operational models in the gold recycling industry [1][6] Group 1: Market Trends - As of this week, New York gold futures reached a peak of $3,451 per ounce, while the Shanghai Gold Exchange price hit a maximum of 788 yuan per gram [1] - The total recycling volume of Jin Yafu's smart gold recycling terminals increased by 589% year-on-year in the first half of 2025 [1][6] Group 2: Consumer Experience - Consumers are increasingly opting for self-service gold recycling machines due to their convenience and transparency, with reports of long queues at locations like Shanghai's Global Harbor [2][7] - The entire recycling process takes about 20 minutes, with initial testing taking around 3 minutes, followed by a longer melting process to separate impurities [5] Group 3: Industry Structure - The smart gold recycling terminal developed by Jin Yafu Group is designed to recycle gold products with a purity of over 50% and weights between 3 grams and 1,000 grams, charging a service fee of 18 yuan per gram [6][9] - Jin Yafu Group, established in 2006, has expanded its smart gold stores to nearly 100 major cities across China, with revenues of approximately 600 billion yuan in 2023 [6][10] Group 4: Challenges and Opportunities - The gold recycling industry faces challenges due to a lack of standardization, leading to consumer distrust in certain recycling channels [8][9] - The emergence of smart gold stores addresses pain points in the recycling sector, providing a more transparent pricing mechanism and reducing the risk of discrepancies during the recycling process [9][10] Group 5: Future Growth Potential - The demand for gold recycling is closely tied to gold price fluctuations, and Jin Yafu aims to maintain profitability even during price declines by diversifying into the sales of standardized investment gold bars and creative gold products [10][15] - The concept of "golden grains," which combines gold's financial attributes with popular culture elements, is seen as a potential growth avenue to attract younger consumers [15][16]