China National Gold (SH:600916) 智通财经网·2026-01-13 13:15Core Viewpoint - The company expects a significant decline in net profit for the 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 attributed to 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 facing challenges due to the application of different accounting standards and measurement methods on the asset and liability sides of the financial statements [1] Group 2: Market Conditions - The rapid increase in gold prices has outpaced the turnover speed of inventory, resulting in a temporary negative impact on profit from fair value changes [1]