黄金珠宝

Search documents
商贸零售行业10月投资策略暨三季报前瞻:消费整体平稳增长,把握细分板块配置机遇
Guoxin Securities· 2025-10-13 02:23
证券研究报告 | 2025年10月13日 商贸零售行业 10 月投资策略暨三季报前瞻 优于大市 消费整体平稳增长,把握细分板块配置机遇 4)跨境电商:三季度主要企业预计收入端仍受益于海外需求稳步增长和国 内优质产品创新助推,但利润端受外部环境扰动预计分化明显。当前外部关 贸环境虽仍有变数,但国内优质头部平台型企业通过灵活的关税应对措施, 以及坚实的产品力壁垒,长期来看已经具备了强抗风险韧性。 投资建议:维持板块"优于大市"评级。在大盘水位走高下消费板块滞涨已 久,Q4 在海内外旺季及大促的基本面带动下,存在板块轮动下的补涨机会。 1)美容护理:存量市场下,产品积极迭代升级,渠道精细化运营的国货龙 头有望持续提升市占率,推荐:上美股份、青木科技、毛戈平、上海家化、 登康口腔、若羽臣等。2)黄金珠宝:在当前金价持续高位以及工艺进步下 为黄金品类赋予了悦己和保值两大新消费特质,积极通过差异化设计布局一 口价产品的企业,有望持续受益,推荐:潮宏基、周大福、曼卡龙等。3) 线下零售:板块整体偏内需为主,受外部环境扰动影响较小,短期可关注兼 具改善主线和低估值低位置标的:名创优品、重庆百货、永辉超市等。4) 跨境电商:外 ...
今日黄金价格下降,水贝金价跌至911元每克,买金条还是首饰更划算
Sou Hu Cai Jing· 2025-10-13 02:18
"哎,你最近看黄金价格了吗?这几天咋又掉下来了?"早上喝豆浆的时候,隔壁桌的大姐一边刷手机一边感叹,"昨天我去商场看了一圈,金价都开始松动 了,老凤祥那金条都比上个月便宜了好几十块。"这话一出,旁边几个也开始凑热闹,毕竟黄金这玩意,谁家不多少关注点。 为什么金价最近又掉了?其实金价下跌的背后,原因挺复杂。最近国际黄金市场波动比较大,一方面是美元走强,另一方面全球经济数据有变化,投资者信 心波动,就导致金价回调。 说白了,黄金一直被看作"避险资产"。经济形势紧张时它涨,市场稳定或美元强势时它跌。最近国际市场气氛稍缓,加上投资资金流出黄金市场,自然价格 就掉了。 有朋友打趣说:"我这金项链刚买完,它就掉价了。"这确实挺常见的事儿。黄金属于商品,也有市场起伏,买首饰更多是图个喜庆和保值,真要赚价差,得 看时机。 对比一下品牌金店,这价格差了将近200多元一克。有人说,水贝那买金就像去源头拿货,确实便宜,但也得懂门道,毕竟工费、纯度、证书这些都得看清 楚。 这么一对比,差价最高能拉到七八十块一克。同样买100克,那可差七八千块钱。这价格要是放在买首饰、买金条上,绝对值得多跑几家。 水贝市场的黄金价让人心动再看深圳水贝 ...
深圳水贝,三家黄金珠宝公司被查处!
Jing Ji Wang· 2025-10-13 01:48
近期,国际金价再度表现强势,目前,水贝金饰的克价已经突破900元。金价高企之下,消费市场也发 生了一些变化,黄金珠宝行业的借货、代卖、寄售行为也多次导致纠纷,一些在水贝市场早已存在多年 的交易模式——私盘对赌、违规的场外流通等存在较大风险。广东深圳市黄金珠宝首饰行业协会秘书长 张文扬表示,鼓励商户通过正规套期保值等金融工具对冲价格波动风险,同时也在推动加强行业自律与 交易模式优化,探索引入第三方监管等机制。协会也再次提醒,贵金属投资属于市场行为本身存在一定 风险,请广大投资者基于可靠信息理性判断,稳健决策。 10月11日,深圳市黄金珠宝首饰行业协会官方发布行业警示函。根据警示函内容显示,深圳水贝三家黄 金珠宝公司被查处,已涉嫌构成开设赌场罪。 9月中旬,市场传言10余家广东深圳水贝地区黄金料商相继出现经营异常状况,其中部分黄金料商早已 人去楼空,曾引起广泛关注。记者调查发现,一些黄金料商的"爆雷"并不是因为板料销售,而是通过预 定价进行对赌。该模式允许商家以少量资金控制大量黄金,客户只需支付一定的订金,就能锁定大批黄 金,并享受看高或看空带来的全部收益。此外,深圳水贝黄金市场存在多个面向散客的黄金预定价交易 ...
中国黄金10月10日获融资买入3205.57万元,融资余额3.86亿元
Xin Lang Cai Jing· 2025-10-13 01:23
Group 1 - The core viewpoint of the news highlights a decline in the stock price of China Gold, which fell by 2.86% on October 10, with a trading volume of 447 million yuan [1] - On October 10, China Gold had a financing buy-in amount of 32.06 million yuan and a financing repayment of 51.37 million yuan, resulting in a net financing outflow of 19.31 million yuan [1] - As of October 10, the total financing and securities lending balance for China Gold was 388 million yuan, with the financing balance at 386 million yuan, accounting for 2.71% of the circulating market value, indicating a high level compared to the past year [1] Group 2 - China Gold Group Gold Jewelry Co., Ltd. is a major enterprise engaged in the research, design, production, sales, and brand operation of gold jewelry products in China, with 98.83% of its main business income derived from gold products [2] - As of June 30, the number of shareholders for China Gold was 118,000, a decrease of 0.55% from the previous period, while the average circulating shares per person increased by 0.55% to 14,239 shares [2] - For the first half of 2025, China Gold reported an operating income of 31.10 billion yuan, a year-on-year decrease of 11.54%, and a net profit attributable to shareholders of 319 million yuan, down 46.35% year-on-year [2] Group 3 - Since its A-share listing, China Gold has distributed a total of 2.52 billion yuan in dividends, with 1.84 billion yuan distributed over the past three years [3] - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder of China Gold, holding 23.71 million shares, a decrease of 10.14 million shares from the previous period [3]
多家信托公司被要求排查逆回购杠杆率;深圳水贝三家黄金珠宝公司被查处 | 金融早参
Mei Ri Jing Ji Xin Wen· 2025-10-12 23:33
Group 1 - The central bank conducted a 116 billion yuan reverse repurchase operation to maintain liquidity and stabilize interest rates, indicating a willingness to support economic recovery [1] - The operation had a fixed interest rate of 1.40% and a full bid amount of 116 billion yuan, resulting in a net injection of 116 billion yuan for the day [1] Group 2 - Multiple trust companies received notifications to investigate their reverse repurchase leverage ratios, reflecting regulatory concerns about market risks and the need for stricter controls [2] - This move aims to standardize market operations and prevent the accumulation of high leverage risks, contributing to long-term financial market stability [2] Group 3 - Various regions are seizing the "golden period" for major project construction, with new policy financial tools being rapidly implemented to support project capital [3] - The announcement of 500 billion yuan in new policy financial tools is expected to boost infrastructure investment growth in the fourth quarter, positively impacting related industries [3] Group 4 - Three gold and jewelry companies in Shenzhen were penalized for illegal activities, including operating a gambling business, highlighting the need for increased legal awareness and risk prevention among investors [4] - The crackdown on illegal activities in the gold and jewelry market aims to enhance market transparency and credibility, promoting healthier industry development in the long run [4] Group 5 - The U.S. federal government shutdown has entered its 11th day, affecting approximately 600,000 employees who are either on unpaid leave or working without pay [5] - The shutdown has begun to result in layoffs, with over 4,000 employees from various departments facing termination [5]
三家黄金珠宝公司被查!
券商中国· 2025-10-12 23:21
Core Viewpoint - The Shenzhen Gold and Jewelry Association has issued a warning regarding illegal activities in the gold trading sector, specifically highlighting the involvement of three companies in online gambling disguised as gold trading [1] Group 1: Industry Issues - Three gold jewelry companies in Shenzhen's Shui Bei area have been investigated for allegedly engaging in illegal gambling activities under the guise of gold trading [1] - The companies were found to be conducting "non-physical gold betting" through online platforms, which constitutes a violation of the law [1] - The warning indicates that these activities have severely disrupted market order and tarnished the reputation of the gold jewelry industry [1] Group 2: Market Conditions - The international gold price has shown strong performance, with the price per gram of gold in Shui Bei exceeding 900 yuan [2] - The high gold prices have led to changes in consumer behavior, with increased disputes arising from borrowing, selling, and consignment practices in the gold jewelry sector [2] - The association's secretary-general encourages merchants to use legitimate hedging tools to mitigate price volatility risks and is advocating for enhanced industry self-regulation and transaction model optimization [2]
今日金价行情分析,黄金价格差异解析,买黄金如何选时机
Sou Hu Cai Jing· 2025-10-12 21:52
"你知道吗?最近金价又开始波动了。"小陈一边翻看手机一边对同事说,"我看明后天可能还会有大动作呢。"同事皱了皱眉头,"这我就得关注了,我之前 一直想着买点黄金保值,没想到价格还真有点讲究。"金价的波动总是牵动着不少人的神经,特别是对于喜欢收藏或者投资黄金的人来说,每一克的差价都 很关键。今天咱们就来聊聊10月12日的金价情况,以及买卖黄金时的一些实用建议。 不同种类黄金价格差异 各大黄金品牌最新价格 除了品牌,黄金的种类也会影响价格。深圳水贝市场上,足金999每克911元,纯度99.9%;足金999.9每克912元,纯度99.99%;足金999.99每克913元,纯度 99.999%。古法金和5G黄金每克912元,纯度都是99.9%;3D硬金每克911元。铂金每克393元,纯度99.9%。金条每克911元,纯度99.99%,18K金每克688 元,纯度75%。 先来看看市面上几家比较常见的金店和品牌价格: 看得出来,纯度越高,价格也略高,而且不同工艺的黄金价格也不同。比如古法金和3D硬金,虽然纯度差不多,但加工方式不同,价格就有轻微差异。对 于想买黄金收藏或者投资的人来说,这些差异很值得关注。 中国黄金基础金 ...
黄金猛涨 实探水贝!1克跳涨50元 5G黄金受青睐
Zhong Guo Zheng Quan Bao· 2025-10-12 21:35
Core Viewpoint - The international gold price has strengthened, leading to increased consumer interest in gold jewelry, particularly in the Shenzhen market where prices have risen significantly in a short period [2][3][5]. Price Trends - As of October 12, the base selling price for gold jewelry in the Shenzhen market reached 922 yuan per gram, an increase of 11 yuan from the previous day [2][3]. - The price has surged by over 50 yuan per gram in just a few weeks, with prices around 870 yuan per gram before the National Day holiday [5]. Market Dynamics - The market operates with a transparent and unified pricing system, making it more attractive to consumers compared to branded jewelry stores, which have prices around 1180 yuan per gram [5]. - The processing fees for gold products in the market are relatively low, ranging from 5 yuan per gram for gold bars to 20-50 yuan for more complex designs [6]. Consumer Behavior - There is a notable increase in demand for wedding-themed gold products, with many consumers traveling from other regions to purchase jewelry for upcoming weddings [9]. - Despite the high demand for wedding jewelry, there is a growing cautiousness among consumers regarding general gold purchases due to rising prices, leading to increased activity in gold recycling and trade-in programs [9][10]. Product Innovation - New craftsmanship techniques, such as "5D" and "5G" gold, are gaining popularity, allowing for lighter and more intricately designed jewelry, which appeals to consumers looking for value [10].
国货黄金品牌老凤祥“冲顶”奢侈品还差什么?
Mei Ri Jing Ji Xin Wen· 2025-10-12 14:00
Core Viewpoint - The recent investment by Lao Feng Xiang in Maybach Luxury Goods Asia Pacific is seen as a significant step towards high-end transformation in the gold and luxury goods sector, sparking discussions about the dilution of gold attributes and the potential for mutual benefits in market expansion [1][2][6]. Company Summary - Lao Feng Xiang plans to invest $24 million (approximately 170 million RMB) to acquire a 20% stake in Maybach Luxury Goods Asia Pacific, along with securing distribution rights in the Asia Pacific region [1][3]. - The partnership aims to enhance Lao Feng Xiang's brand image and product offerings while expanding into international markets [3][5]. - The investment is structured as a dual approach, combining equity investment with brand agency agreements to facilitate a stable relationship and operational learning from the luxury sector [4][5]. Industry Summary - The gold jewelry industry is currently facing profitability challenges due to high gold prices and increasing product homogeneity, leading to declining consumer demand [6][7]. - Lao Feng Xiang's revenue fell by 16.52% to 33.356 billion RMB, with net profit down 13.07% to 1.22 billion RMB in the first half of 2025, reflecting broader industry trends [7]. - In contrast, competitors like Lao Pu Gold have seen significant growth, with a 251% increase in revenue, indicating a potential shift towards high-end strategies within the industry [7][8]. - The luxury goods market is expected to see over 50% of luxury brands introducing pure gold jewelry, indicating a growing intersection between gold and luxury sectors [10].
国货黄金品牌“冲顶”奢侈品还差什么?
Mei Ri Jing Ji Xin Wen· 2025-10-12 13:54
这一跨越黄金珠宝与超豪华汽车衍生奢侈品的联姻,被视作黄金品牌高端化突围的里程碑,但也引 发"黄金属性是否稀释"的争议。此次合作,是老凤祥看中迈巴赫奢侈品品牌价值,还是迈巴赫奢侈品想 借老凤祥资源拓展市场?有黄金珠宝行业资深从业者向《每日经济新闻》记者指出,二者合作系双向需 求,但文化理念等差异暗藏风险。 当前,金价高企抑制市场消费金饰的需求,加之产品日益同质化且迭代迅速,致使老凤祥、周大生等多 家企业面临盈利难题。而凭借"高端"突围的老铺黄金(HK06181,股价702.00港元,市值1212.00亿港 元),不仅业绩逆势大增且前不久还吸引LV母公司LVMH集团CEO(首席执行官)贝尔纳·阿尔诺到店 打卡,展示了国货黄金对顶奢的吸引力。 "行业已经进入高端化发展的风口期,也是很多黄金珠宝品牌最好的'高端化突围期'。"奢侈品行业专家 周婷在接受《每日经济新闻》记者采访时表示,跨界合作能让老凤祥快速习得奢侈品的运营逻辑,却也 存在迈巴赫奢侈品品牌价值崩塌等隐忧。 那么,国货黄金离真正的奢侈品阵营究竟还有多远?老凤祥的这一步棋,究竟是关键一跃,还是一场冒 险? 近日,老凤祥(SH600612,股价50.28元,市值 ...