消息面上，中国非投资型黄金生产商可抵扣增值税率从13%降至6%。大和认为，老铺黄金的直接利润 率风险应会降低。该行表示，老铺黄金在10月底的大幅提价以及自那时以来金价约3%的跌幅，应会为 该公司提供缓冲。该行同时指出，黄金珠宝价格可能出现的普遍上涨使老铺黄金的产品更具吸引力，可 能会促使消费者提前购买黄金珠宝。 智通财经APP获悉，老铺黄金(06181)反弹近4%，截至发稿，涨3.61%，报631港元，成交额4.46亿港 元。 瑞银则表示，老铺黄金及周大福的短期需求或面临压力，但长期而言两者有望进一步整合市场。假设增 值税退税率由13%减至6%，估算老铺黄金的毛利率将面临3至4个百分点的压力，不过公司上月底已加 价约两成多，或可抵消部分影响；而周大福日前已将计重黄金产品价格上调5%，将毛利率压力转嫁予 消费者。 ...

Group 1 - The core viewpoint of the articles highlights the financial performance of Haohai Biological Technology for the first half of 2025, showing a decline in revenue and profit compared to the previous year [1][3] - The company's revenue for the reporting period was approximately RMB 1.293 billion, representing a year-on-year decrease of about 7.48% [1] - The profit attributable to ordinary shareholders was approximately RMB 211 million, down about 10.29% from the same period in 2024, with basic earnings per share at RMB 0.91 and an interim dividend of RMB 0.40 per share [1] Group 2 - The company faced challenges due to the implementation of national centralized procurement policies and a sluggish domestic consumption market, leading to a significant decline in the ophthalmology product line revenue, which decreased by approximately RMB 83.51 million, or 18.57% year-on-year [1] - The revenue from the medical beauty and wound care product line also saw a decline of approximately RMB 58.55 million, or 9.27%, primarily due to a temporary decrease in domestic demand for the first and second generation hyaluronic acid products [1] - Conversely, the revenue from the anti-adhesion and hemostatic product line increased by approximately RMB 41.10 million, or 59.68%, mainly due to the inclusion of the "Kangrui Gel" product in the Shanghai Municipal Biopharmaceutical "New and Excellent Drug and Medical Device" product catalog [2]

报告期内，该集团紧密围绕医美、眼科、骨科、防黏连及止血四大核心业务板块，积极应对外部环境的 机遇与挑战，持续深化产品创新、市场拓展和精益管理，集团整体经营继续保持了稳健发展态势。报告 期内，受到国家集采政策逐步落地实施以及国内消费市场出现疲态等因素影响，集团眼科产品线整体收 入较2024年同期下降约人民币8351万元，降幅约18.57%。报告期内，集团医疗美容与创面护理产品线 的收入较2024年同期下降约人民币5855万元，降幅约9.27%，主要是集团第一代和第二代玻尿酸产品受 到国内消费需求阶段性减少的影响，收入下降较为明显。 另外，根据国家税务总局《关于生物製品适用增值税政策执行口径》的要求，下属子公司上海其胜所生 产的相关产品不再被认定为适用增值税简易办法徵收率计算的生物制品，增值税率由3%调整为13%， 由于集团无法通过调整含税销售价格的方式消化上述税率调整的影响，导致报告期内相关上海其胜产品 的扣税后销售单价及收入有所下降。报告期内，集团防黏连及止血产品线收入较2024年同期增长约人民 币4110万元，增幅约59.68%，主要是集团"康瑞胶"产品于2024年12月被纳入《上海市生物医药"新优药 械" ...