中国黄金：预计2025年归母净利润同比减少55%-65%

Core Viewpoint - The company, China Gold, expects a significant decline in net profit for the fiscal year 2025, projecting a range of 286 million to 368 million yuan, which represents a year-on-year decrease of 55% to 65% [1] Group 1: Financial Performance - The primary reason for the decline in net profit is the impact of the gold market and new policies, which have adversely affected sales of both investment and consumer gold products [1] - There has been a reduction in customer traffic at retail stores, leading to temporary sales pressure for the company [1] - The company's gold leasing business is affected by different accounting standards and measurement methods on the asset and liability sides of the financial statements, contributing to the negative impact on profits [1] Group 2: Market Conditions - The rapid increase in gold prices has outpaced inventory turnover rates, resulting in a temporary negative effect on the fair value changes and profits of the company [1]