格隆汇1月14日｜开源证券研报指出，潮宏基2025年归母净利润预计高增，渠道拓展、品牌升级。2025 年预计实现归母净利润4.36-5.33亿元（同比+125%~+175%），剔除前三季度商誉减值后归母净利润为 6.07-7.04亿元；单2025Q4实现归母净利润1.19-2.16亿元（2024年同期为-1.22亿元），同比大幅扭亏；整 体业绩超预期。考虑公司的消费者洞察力、差异化产品力均较为突出，随着品牌力提升，成长性有望持 续凸显，该行上调盈利预测，预计公司2025-2027年归母净利润为4.81/7.50/9.60亿元（原值为 4.50/7.33/9.26亿元），对应EPS为0.54/0.84/1.08元，当前股价对应PE为24.0/15.4/12.0倍，维持"买入"评 级。 ...

东吴证券研报指出，潮宏基是我国年轻时尚的黄金珠宝品牌，公司战略清晰，在持续扩展门店网络、优 化渠道结构的同时，正加快国际化布局步伐。作为以时尚设计见长的珠宝品牌，其"国潮"产品系列精准 契合年轻消费群体对个性化、文化内涵首饰的需求，品牌差异化优势明确。考虑到公司渠道结构持续改 善，该行上调公司2025-2027年归母净利润预测从4.3/6.6/7.9亿元至4.8/6.7/8.1亿元，同比分别 +147%/+41%/+20%，2025-2027年PE对应最新收盘价分别为23/17/14倍，维持"买入"评级。 ...

Group 1 - The core point of the news is that 莱绅通灵's stock price has increased by 6.61% on January 14, reaching 9.68 yuan per share, with a total market capitalization of 3.32 billion yuan [1] - 莱绅通灵 has seen a cumulative increase of 6.32% over the past four days, indicating a positive market trend [1] - The company specializes in diamond jewelry brand management, product design, and retail, with its main revenue sources being diamond-set jewelry (55.09%), traditional gold products (37.02%), and other products [1] Group 2 - 安信基金 has a fund that heavily invests in 莱绅通灵, specifically the 安信消费医药股票A fund, which increased its holdings by 593,200 shares, now totaling 1,174,600 shares, representing 5.58% of the fund's net value [2] - The fund has generated a floating profit of approximately 704,800 yuan today, with a total floating profit of 634,300 yuan during the four-day stock price increase [2] - The 安信消费医药股票A fund has a total asset size of 215 million yuan and has achieved a year-to-date return of 7.5% [2]

Group 1 - Mankalon's stock price increased by 5.1% to 18.56 CNY per share, with a trading volume of 314 million CNY and a turnover rate of 7.34%, resulting in a total market capitalization of 4.864 billion CNY [1] - The stock has risen for four consecutive days, with a cumulative increase of 7.81% during this period [1] - Mankalon Jewelry Co., Ltd. is based in Hangzhou, Zhejiang Province, and was established on December 3, 2009, with its listing date on February 10, 2021. The company's main business involves retail chain sales of jewelry, with 99.91% of revenue coming from product sales [1] Group 2 - According to data, a fund under Jianxin Fund holds a significant position in Mankalon, with Jianxin Consumption Upgrade Mixed Fund (000056) owning 77,600 shares, representing 2.87% of the fund's net value, making it the tenth largest holding [2] - The fund has generated an estimated floating profit of approximately 69,800 CNY today and 99,300 CNY during the four-day increase [2] - Jianxin Consumption Upgrade Mixed Fund was established on June 14, 2013, with a latest scale of 53.6875 million CNY, yielding 1.06% this year and 4.53% over the past year [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002574证券简称：明牌珠宝 公告编号：2026-001 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、股票交易异常波动的情况介绍 浙江明牌珠宝股份有限公司（以下简称"公司"）股票（证券简称：明牌珠宝，证券代码：002574）于 2026年1月12 日、2026年1月13日连续2个交易日收盘价格涨幅偏离值累计超过20%，根据《深圳证券交 易所交易规则》的有关规定，属于股票交易异常波动的情形。 1、经自查，公司不存在违反信息公平披露的情形。公司将严格按照相关法律法规的要求，真实、准 确、完整、及时、公平地向投资者披露有可能影响公司股票价格的重大信息。 1、公司前期披露的信息截至本公告披露日不存在需要更正、补充之处。 2、公司未发现近期公共传媒报道了可能或已经对公司股票交易价格产生较大影响的未公开重大信息。 4、公司近期经营情况正常，内外部经营环境未发生重大变化。 5、公司、控股股东及其一致行动人和实际控制人不存在关于本公司的应披露而未披露的重大事项，也 不存在处于筹划阶段的重大事项。 6、公司控 ...

Core Viewpoint - Chow Tai Fook (00659) has announced a new panda bond plan for 2026, with a total registration amount not exceeding RMB 5 billion, pending approval from the China Interbank Market Dealers Association [1] Group 1: Panda Bond Plan - The 2026 panda bond plan can be issued within two years from the receipt of the acceptance notice from the association, and may be issued in multiple tranches [1] - The exact issuance time, term, scale, and terms of the 2026 panda bonds will depend on market conditions at the time of issuance [1] - The coupon rate for the 2026 panda bonds will be determined through a centralized book-building process [1] Group 2: Financial Strategy - The 2026 panda bond plan is expected to provide a cost-effective way for the group to refinance the outstanding principal amount of notes maturing in 2026 and 2027 [1] - The favorable interest rate differential between USD/HKD borrowing and RMB borrowing is anticipated to persist, benefiting the company's financing strategy [1] - A significant portion of the group's assets, operations, and income is denominated in RMB, making the 2026 panda bonds a natural hedge against RMB exchange rate fluctuations [1]

Group 1 - The stock of Lao Pu Gold (06181) increased by over 3%, currently up 3.7% at HKD 687.5, with a trading volume of HKD 295 million [1] - UBS research report indicates that despite management's expectation of a decline in gross margin in the second half of last year compared to the first half, the gross margin has rebounded to 40% after a price increase at the end of October [1] - Management is optimistic about achieving an annual improvement in gross margin, maintaining a target of 40% for the full year, assuming a moderate increase in gold prices [1] Group 2 - Management emphasized the importance of channel upgrades in the domestic market, including expanding existing store sizes and relocating to better positions within the same shopping malls, with 5 to 6 malls currently undergoing upgrades [1] - The company aims to open 4 to 5 new stores outside mainland China this year, including a second store at Marina Bay Sands in Singapore and a new store in Tokyo [1] - Gross margins in Hong Kong and Macau are slightly higher than in mainland China due to lower tax rates [1] Group 3 - UBS anticipates that despite high comparatives around the Chinese New Year, better-than-expected same-store sales growth could serve as a potential positive catalyst [2]

1月13日，中国黄金涨0.49%，成交额2.69亿元。两融数据显示，当日中国黄金获融资买入额1820.13万 元，融资偿还2299.34万元，融资净买入-479.21万元。截至1月13日，中国黄金融资融券余额合计3.83亿 元。 融资方面，中国黄金当日融资买入1820.13万元。当前融资余额3.81亿元，占流通市值的2.74%，融资余 额超过近一年70%分位水平，处于较高位。 融券方面，中国黄金1月13日融券偿还400.00股，融券卖出400.00股，按当日收盘价计算，卖出金额 3312.00元；融券余量24.73万股，融券余额204.76万元，超过近一年80%分位水平，处于高位。 资料显示，中国黄金集团黄金珠宝股份有限公司位于北京市东城区安外大街柳荫公园南街1号，成立日 期2010年12月16日，上市日期2021年2月5日，公司主营业务涉及中国黄金是国内专业从事"中国黄金"品 牌黄金珠宝产品研发、设计、生产、销售、品牌运营的大型企业,是中国黄金集团黄金珠宝零售板块的 唯一平台,是我国黄金珠宝销售领域知名的中央企业。主营业务收入构成为：黄金产品98.83%，品牌使 用费0.67%，管理服务费0.22%，其他业 ...

Core Viewpoint - The stock of Lao Pu Gold (06181) has risen over 3%, currently at 687.5 HKD, with a trading volume of 295 million HKD, following a UBS research report highlighting management's confidence in maintaining a gross margin of 40% for the year despite previous declines [1] Group 1: Financial Performance - UBS reports that management anticipates a decline in gross margin in the second half of last year compared to the first half, but after a price increase at the end of October, the gross margin has rebounded to 40% [1] - Management is optimistic about achieving year-on-year improvement in gross margin, assuming a moderate increase in gold prices this year [1] Group 2: Strategic Initiatives - The management team emphasized the importance of channel upgrades in the domestic market, which includes expanding existing store sizes, relocating to better positions within the same shopping malls, or adding sales points in the same malls [1] - Currently, 5 to 6 shopping malls are undergoing channel upgrades [1] - The management reiterated the goal of opening 4 to 5 new stores outside mainland China this year, including a second store at Marina Bay Sands in Singapore and a new store in Tokyo [1] Group 3: Market Insights - The gross margin in the Hong Kong and Macau markets is slightly higher than that in mainland China due to lower tax rates [1] - UBS anticipates that despite high comparatives around the Chinese New Year, better-than-expected same-store sales growth could serve as a potential positive catalyst [2]

Core Viewpoint - The prices of gold jewelry in China have surged significantly, reaching historical highs, with some brands exceeding 1430 CNY per gram [1] Price Increases - On January 13, the domestic price of 999 gold from Liufu Jewelry was reported at 1424 CNY per gram, an increase of 36 CNY compared to January 6 [1] - Chow Tai Fook's gold jewelry price was 1426 CNY per gram, while Xie Rui Lin and Chao Hong Ji also reported similar prices for their gold products [1] - Lao Miao's gold jewelry in the Shanghai region was priced at 1427 CNY per gram, and Chow Sang Sang's gold jewelry reached 1432 CNY per gram [1] International Gold Prices - As of January 13, the London spot gold price was reported at 4597.35 USD per ounce, showing a slight decrease of 0.03% [1] - The Shanghai Gold Exchange reported a peak price of 1030.01 CNY per gram for Au99.99 gold, marking a new high, with the latest price at 1027.45 CNY per gram, reflecting an increase of 0.37% [1]