珠宝配饰半年报|靠加盟跑马圈地日子不复存在中国黄金上半年闭店593家、业绩双降显著承压

Core Viewpoint - The gold and jewelry industry is experiencing a dichotomy in performance in the first half of 2025, with upstream gold mining companies benefiting from rising gold prices, while downstream consumption is under pressure due to the same price increases [1]. Group 1: Performance of Selected Companies - Among the 12 selected jewelry companies, only 6 reported increases in both revenue and net profit, while 1 company saw revenue growth without profit increase, and 5 companies experienced declines in both metrics [1]. - The companies that achieved growth in both revenue and net profit include Caibai Co., Mankalon, Chaohongji, Cuihua Jewelry, Ruibeka, and Dia Co. [1]. - Laisen Tongling reported revenue of 870 million yuan, a 37% increase, but a net profit of 61 million yuan, a decline of 263.52% [1]. Group 2: Declining Performance - Five companies reported declines in both revenue and net profit: China Gold, Feiya, Laofengxiang, Mingpai Jewelry, and Xinhua Jin [2]. - China Gold achieved revenue of 31.098 billion yuan, a decrease of 11.54%, and a net profit of 319 million yuan, down 46.35% [3][4]. - Feiya reported revenue of 1.784 billion yuan, a decline of 14.08%, and a net profit of 82.45 million yuan, down 43.97% [3]. - Laofengxiang's revenue fell to 6.603 billion yuan, a decrease of 16.52%, with net profit down 13.07% to 1.22 billion yuan [3]. - Xinhua Jin's revenue dropped to 669 million yuan, a decrease of 24.92%, and net profit fell by 39.45% to 12.87 million yuan [3].