证券代码：300945 证券简称：曼卡龙 编号：2025-029 | |  特定对象调研 分析师会议 | | --- | --- | | 投资者关系 | 媒体采访 业绩说明会 | | 活动类别 | 新闻发布会 路演活动 | | | 现场参观 其他 （电话会议） | | 参与单位名称及 | 博时基金 郑铮、郭康斌、黄超杰 | | 人员姓名 | 长江证券 李锦 | | 时间 | 2025 年 7 月 9 日 | | 地点 | 公司会议室 | | 上市公司接待 | 副总经理兼董事会秘书许恬 | | 人员姓名 | | | | 一、介绍环节 | | | 公司副总经理兼董事会秘书许恬就公司 年度及 年一季 2024 2025 | | | 度经营情况做了介绍。 | | 投资者关系活动 | 二、问答环节 | | 主要内容介绍 | 公司在接待过程中严格按照公司《信息披露管理制度》《投资者 | | | 关系管理制度》规定，没有出现未公开重大信息泄露等情况。各方还 | | | 就公司品牌建设、产品研发等方面进行了交流，可参阅近期《投资者 | | | 关系活动记录表》之问答及定期报告。 | | 附件清单（如有） | ...

证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交6.53亿元，其中，买入成交额为2.93亿 元，卖出成交额为3.60亿元，合计净卖出6708.01万元。 具体来看，今日上榜营业部中，第一大买入营业部为国投证券股份有限公司西安朱雀大街证券营业部， 买入金额为5309.61万元，第一大卖出营业部为国泰海通证券股份有限公司威海青岛北路证券营业部， 卖出金额为7290.83万元。 近半年该股累计上榜龙虎榜5次，上榜次日股价平均涨4.78%，上榜后5日平均涨6.69%。 资金流向方面，今日该股主力资金净流出1.63亿元，其中，特大单净流出7621.32万元，大单资金净流出 8641.54万元。近5日主力资金净流出7.74亿元。（数据宝） 金一文化今日上涨3.16%，全天换手率31.85%，成交额40.80亿元，振幅17.53%。龙虎榜数据显示，营业 部席位合计净卖出6708.01万元。 深交所公开信息显示，当日该股因日振幅值达17.53%上榜，营业部席位合计净卖出6708.01万元。 金一文化7月9日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | ...

Group 1 - Domestic gold jewelry prices have decreased, with several brands reporting a drop of 7 yuan per gram, bringing prices below 1,000 yuan per gram, specifically to 998 yuan per gram [1][5] - Various brands have set their gold jewelry prices as follows: Zhou Dazai at 998 yuan per gram, Cai Bai at 982 yuan per gram, and Zhou Liufu at 978 yuan per gram [5]

周大生珠宝股份有限公司 投资者关系活动记录表 投资者关系活动类别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 ☑现场参观 □其他(电话会议) 参与单位名称 及人员姓名 共计 3 位投资者（排名不分先后）： 高毅资产：王治璇 国泰海通：李宏科、张冰清 时 间 2025 年 7 月 8 日 地 点 总部会议室 上市公司接待人员 姓名 证券事务代表：荣欢 投资者关系活动 主要内容介绍 一、 问答环节： 投资者主要就行业情况、国家宝藏、毛利率情况、分红等问题进行 了交流，并参观了公司展厅，可参阅前次活动记录表之问答和已披露公 告。 接待过程中，公司严格按照《信息披露管理制度》等规定，保证信 息披露的真实、准确、完整、及时、公平，没有出现未公开重大信息泄 露等情况。同时，现场调研的投资者已按深交所要求签署承诺函。 附件清单（如有） 无 日期 2025 年 7 月 8 日 代码：002867 证券简称：周大生 编号：2025-030 ...

Investment Rating - The report indicates a positive outlook for the jewelry industry, particularly for gold jewelry, with a projected market size of CNY 7,280 billion in 2024 and a compound annual growth rate (CAGR) of 3.6% from 2019 to 2024, expected to increase to 5.2% from 2024 to 2029 [3][11]. Core Insights - The jewelry market is steadily expanding, with gold consumption leading the trend. By 2024, gold jewelry is expected to capture 73% of the market share, with franchise models accounting for 72% of industry expansion [3][11]. - The industry is experiencing increased concentration, with the top five gold jewelry companies holding a market share of 58.5%. As competition intensifies, leading brands are shifting focus from expansion to quality enhancement [3][29]. - Zhou Liufu, a prominent jewelry brand, has rapidly expanded its franchise network, surpassing 4,000 stores nationwide by 2024, with revenue growth from CNY 3.1 billion in 2022 to CNY 5.72 billion in 2024, marking the highest CAGR among national jewelry companies [3][39]. - The brand is optimizing its store network and enhancing operational efficiency while focusing on product innovation to attract younger consumers [3][40]. Industry Analysis - The jewelry market is entering a phase of steady growth, driven by increasing consumer self-satisfaction and the rise of online shopping. The market is expected to reach CNY 9,370 billion by 2029 [11][12]. - Gold jewelry dominates the market, with a projected market share of 73% in 2024. However, gold consumption volume is expected to decline from 676.2 tons in 2019 to 532.0 tons in 2024 due to various market factors [11][12]. - The franchise model is the primary sales channel, accounting for 72.3% of the market share, while online sales are growing at a CAGR of 16.8% from 2019 to 2024 [25][20]. Company Overview - Zhou Liufu is a well-known jewelry brand in China, established in 2004, and has positioned itself as a leader in the national trend of jewelry [39][40]. - The company has a diverse product line, utilizing advanced technologies such as 5G and 3D gold to enhance product uniqueness and appeal to younger consumers [40][88]. - The management team is experienced and attuned to the preferences of younger consumers, which aids in strategic decision-making [46][47]. Financial Analysis - Zhou Liufu's revenue growth outpaces the industry average, with a rise from CNY 3.1 billion in 2022 to CNY 5.72 billion in 2024, achieving a CAGR of 10.8% for net profit during the same period [50][51]. - The contribution of gold jewelry to revenue is increasing, with online sales growing at a CAGR of 46.1%, significantly higher than the overall revenue growth [59][60]. - The company's gross margin has stabilized after a decline, with a focus on cost control and operational efficiency [62][63]. Competitive Factors - The franchise model is driving rapid expansion, with a significant number of franchise stores contributing to revenue [76][77]. - Zhou Liufu's product offerings are diverse, catering to various consumer needs and preferences, with a focus on cultural elements and modern trends [88][89]. - The company is enhancing its supply chain management capabilities to ensure quality and responsiveness to market demands [89].

证券代码：300945 证券简称：曼卡龙 编号：2025-028 | |  特定对象调研 分析师会议 | | --- | --- | | 投资者关系 | 媒体采访 业绩说明会 | | 活动类别 | 新闻发布会 路演活动 | | | 现场参观 其他 （电话会议） 大成基金 齐炜中、王晶晶、张烨、张家旺、黄涛、童若琰、李燕宁 | | | 李锦 长江证券 | | | 兴业证券 张彬鸿 | | 参与单位名称及 | 刘亮、李夷 长信基金 | | 人员姓名 | 东吴证券 郗越 | | | 万家基金 王琴 | | | 摩根基金李婧 | | 时间 | 2025 年 7 月 8 日 | | 地点 | 公司会议室 | | 上市公司接待 人员姓名 | 副总经理兼董事会秘书许恬 | | | 一、介绍环节 公司副总经理兼董事会秘书许恬就公司 2024 年度及 2025 年一季 | | 投资者关系活动 主要内容介绍 | 度经营情况做了介绍。 二、问答环节 | | | 公司在接待过程中严格按照公司《信息披露管理制度》《投资者 | | | 关系管理制度》规定，没有出现未公开重大信息泄露等情况。各方还 | | | 就公司品牌建 ...

Core Viewpoint - The stock price of Laopu Gold has surged significantly, reaching a new high, with a year-to-date increase of over 300% [1] Group 1: Sales Performance - Citigroup forecasts that Laopu Gold's sales at SKP mall will grow by 1.5 to 2 times, driven by higher discounts compared to other stores [2] - The average monthly sales at the SKP store during promotional periods are expected to be 7 to 8 times higher than usual [2] - Laopu Gold's same-store sales growth for the first half of the year is estimated to be around 200%, exceeding initial market expectations [4] Group 2: Product Strategy - The company plans to introduce high-value products in the second half of the year, including gold lacquerware and jewelry with average prices above 100,000 yuan [2] - Jewelry products account for 35% of total sales, while purchasing agents contribute 30% during promotional periods [2] Group 3: Financial Projections - Based on current assumptions, Laopu Gold's same-store sales are projected to grow by approximately 150% year-on-year by 2025, with total revenue expected to increase by nearly 200% [3] - The company reported a sales performance of 9.8 billion yuan for 2024, reflecting a year-on-year growth of 166% [4] - The net profit for 2024 was 1.47 billion yuan, marking a 254% increase year-on-year [4] Group 4: Expansion Plans - Laopu Gold plans to open 9 new stores by 2025, exceeding the original target of 6 to 8 new stores [4] - New store openings include locations in major cities such as Hong Kong, Nanjing, and Shanghai [4]

港股老铺黄金盘中一度创历史新高，股价达1108港元，随后有所回落，现涨超3%。 ...

Group 1 - The domestic gold jewelry prices remain stable, with many brands reporting a price of 1005 CNY per gram for 24K gold jewelry [1][2] - Specific brands and their prices include: Zhou Dasheng at 1005 CNY per gram, Cai Bai at 982 CNY per gram, and Chao Hong Ji at 1005 CNY per gram [2] - Other brands such as TSL and Jin Zun also maintain their prices at 1005 CNY per gram, while Zhou Liu Qiao is priced at 985 CNY per gram [2]

不同销售渠道的金价差异巨大，投资者需仔细甄别。 银行金条：民生银行、农业银行、平安银行等机构今日金条报价分别为790.45元/克、790.30元/克和788.20元/克，普遍高于大盘价约18元/克。 这主要是因为 银行金条包含品牌溢价、正规回购渠道及制作工艺等隐性成本，适合追求长期储值或送礼的投资者。但若以投资获利为目的，则需仔细权衡溢价是否合理。 黄金投资指南：2025年7月6日金价波动分析及投资策略 今日金价剧烈波动，国际金价更是创下近三个月新高，引发市场热议。许多投资者纷纷询问：是时候出手黄金了吗？本文将深入分析今日金价走势，并结合 不同渠道的金价差异，为您的投资决策提供参考。 国际金价飙升，创近三月新高 国际金价今日表现抢眼，纽约期金价格暴涨至3347.35美元/盎司，单日涨幅高达4.45%；伦敦现货金更是突破至3336.93美元/盎司，单日涨幅惊人地达到 11.06%，创下近三个月最大单日涨幅。 这波强劲上涨主要源于美联储降息预期升温以及美元走弱，导致全球资金涌入黄金市场寻求避险，从而推高了国际 金价。 换算成人民币，国际金价约为768.73元/克，较昨日上涨2.55%。 对于现货黄金及纸黄金投资者 ...