周生生开年率先提价，部分金饰涨幅达1500元

Core Viewpoint - Chow Sang Sang has initiated a price increase for certain gold jewelry products, making it the first jewelry brand to publicly adjust prices in 2026, with increases ranging from 200 to 1500 yuan [1][2]. Price Adjustments - As of January 6, 2026, Chow Sang Sang's gold jewelry prices have been updated, with most products seeing a price increase of approximately 5% to 15% [1][2]. - Specific examples include a black zodiac gold bead priced at 3740 yuan, up from 3380 yuan, reflecting a 10.7% increase [1]. - The price of 1 gram of gold jewelry is reported at 1387 yuan, a rise of about 0.8% from the previous trading day, and a 42 yuan increase since January 1, 2026 [2]. Industry Trends - The jewelry industry is experiencing a concentrated price adjustment period, with brands like Chow Sang Sang, Chow Tai Fook, and others raising prices due to rising gold prices and material costs [2][3]. - In 2025, Chow Sang Sang had previously raised prices by about 10% during September and October, with individual product price increases ranging from 100 to 500 yuan [2]. - The overall trend indicates that the jewelry sector is in a sensitive pricing cycle, with brands needing to balance cost recovery and consumer demand amidst high gold prices [3]. Financial Performance - Chow Sang Sang's gross profit margin increased by 5.2 percentage points to 33.5% in the first half of 2025, primarily due to improved margins from gold products [3]. - Gold jewelry accounted for 82% of total sales in mainland China, with priced gold jewelry making up 34% of that total [3]. - The company has been closing stores, with a net reduction of about 10% in store count expected by the end of 2026 [3].