"哎，你看这金价又掉了，我这周去周大福看了下，黄金1198一克，咋感觉比上周便宜了不少。"我和隔壁老李边喝咖啡边拉呱，他正打算买点首饰投资一下 黄金。其实最近金价波动挺大，不仅国内价格不同品牌有差异，国际市场也在不停地上下波动，咱得好好聊聊怎么买、怎么买划算。 国内各大品牌黄金价格对比 先说国内品牌吧，周大福、六福珠宝、潮宏基、金至尊的黄金价格都在1198元每克，铂金635元，金条1056元。算是大品牌里比较统一的价格，差别不大。 国际市场方面，10月30日黄金价格最新是3971.95美元一盎司，涨幅0.49%，最高3982.14美元，最低3916.56美元。国际铂金1599.36美元，涨幅0.92%；银价 47.38美元，涨幅0.77%；钯金1438.6美元，涨幅1.42%。可以看到国际金价小幅上涨，但人民币计价下国内金价反而有下跌，这主要受汇率和品牌溢价影 响。 换句话说，国际市场涨了，国内零售价格没涨甚至略降，意味着短期内投资黄金首饰可能比直接买国际金便宜点，但如果关注盎司投资，还是要看美元走势 和汇率变化。 怎么买黄金更划算 第一，如果你打算买首饰佩戴或送人，品牌大一些，价格差几十块无伤大雅，服务、售 ...

10月20日，周大福珠宝集团确认即将涨价。集团表示，考虑到金价持续上涨对成本的影响，计划在10月 底提高定价黄金产品的零售价格。 30日下午，记者来到周大福万家丽国际购物广场店，看到店内仅有一位消费者正在挑选金饰。"最近黄 金价格波动得很厉害，来买金子的人没那么多了，预计到年底会多一些。"店员告诉记者。提及金饰涨 价的消息，店员则表示，本轮涨价主要是针对门店内的"一口价"金饰，涨价幅度在12%左右。 所谓的"一口价"金饰，是指不按克重计算价格，而是按件售卖的金饰产品，通常会以吊坠、定制款的形 式出售。 与周大福门店的冷清形成对比，同商场的中国黄金门店内人头攒动。柜台前，匡女士和陈女士正在仔细 比对两个黄金吊坠手链。"这家买'一口价'的黄金还能打8.8折，是我们逛下来价格比较合适的了。"匡女 士说道，她选中了一款金莲花吊坠，搭配绿玛瑙珠，以折后1918元的价格成交。 长沙晚报全媒体记者 贾凯清 连日来，国际金价在高位区间持续波动，金价不确定性显著上升。10月30日，国内黄金价格为907.5元/ 克，较上一交易日下跌4.92元/克。 受金价波动影响，周大福、老庙黄金等多个金饰品牌近期宣布上调产品价格，金饰品牌迎来 ...

Core Insights - The article highlights the impressive growth of Chao Hong Ji, a jewelry brand, which achieved a revenue increase of 28.35% year-on-year in the first three quarters of 2025, amidst challenges faced by the industry due to fluctuating gold prices and consumer tightening [1][2] - The brand's net profit attributable to shareholders reached 488 million yuan, marking a 54.52% increase, with a significant 81.54% growth in the third quarter alone [1][2] - Chao Hong Ji's expansion strategy includes plans to open 20 stores overseas by the end of 2028, reflecting its confidence in the "national trend" and "self-appreciation consumption" [1][13] Financial Performance - In the first three quarters of 2025, Chao Hong Ji reported a revenue of 6.237 billion yuan, with a net profit growth of nearly 55% after excluding goodwill impairment [2] - The company ranks among the top in the A-share jewelry industry for revenue and net profit growth rates, with a market share of 0.8% in 2024 [2] - The gross profit margin has been steadily increasing, and the weighted average return on equity reached 8.82%, the highest since 2014 [2] Product Strategy - Chao Hong Ji's product strategy focuses on "culture + innovation," integrating traditional craftsmanship with modern fashion [4] - The brand's signature non-heritage flower silk technique has been revitalized through collaborations with artists, creating products that resonate with contemporary aesthetics [4][6] - The launch of the "Flower Silk Candy" series exemplifies the successful fusion of traditional and modern design, achieving significant sales in a short time [4] Brand Strength - The brand has successfully positioned itself as a contemporary interpreter of Eastern aesthetics, with over 1,500 offline outlets by the end of 2024 [7] - Chao Hong Ji's brand value increased by 12.4% in 2025, reflecting its strong market presence and cultural resonance [7] - The "One City, One Non-Heritage" project enhances the brand's connection to local cultures, showcasing its commitment to cultural integration [7] Digital Transformation and Operational Efficiency - The company's digital management has significantly improved operational efficiency, with a notable decrease in sales expense ratio by 2.09 percentage points [11] - A product repurchase rate of 60% indicates strong customer loyalty and emotional value associated with the brand [11] - Chao Hong Ji employs a data-driven design approach to quickly adapt to consumer trends, enhancing its competitive edge [11][12] Overseas Expansion - Chao Hong Ji has begun its overseas expansion in Southeast Asia, targeting markets with strong cultural ties to China and significant jewelry consumption potential [13] - The brand's international strategy aims to attract not only the Chinese diaspora but also local consumers and international fashion enthusiasts [13] - Plans to open 20 stores abroad by 2028 align with the company's ambition to establish itself as a global brand [13][14]

每经AI快讯，曼卡龙（SZ 300945，收盘价：17.68元）发布公告称，2025年10月30日，曼卡龙接受广发 证券等投资者调研，公司董事长兼总经理孙松鹤等人参与接待，并回答了投资者提出的问题。 2025年1至6月份，曼卡龙的营业收入构成为：销售商品占比99.91%，其他业务占比0.09%。 截至发稿，曼卡龙市值为46亿元。 每经头条（nbdtoutiao）——多地出现"负电价"，既然卖电"不挣钱"，为何电厂不愿停机？ （记者 曾健辉） ...

Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 1.156 billion CNY, a year-on-year increase of 4.03% [3] - Net profit attributable to shareholders reached 102.54 million CNY, a significant increase of 407.97% compared to the previous year [3] - Single-store revenue was 2.6456 million CNY, reflecting a growth of 30.77% year-on-year [3] - Online self-operated business generated 226 million CNY in revenue, up 45.79% year-on-year [3] Operational Efficiency - The company optimized its brand and improved the efficiency of online and offline channel operations, leading to a significant reduction in operational costs [3] - The total number of stores decreased by 60, resulting in a total of 341 stores, yet revenue still grew by 4.03% [3] - Sales expenses decreased significantly, with rent, decoration, and labor costs combined reducing by 91.67 million CNY [3] Product Strategy - The company focuses on emotional expressions through its product offerings, particularly in the "proposal" and "wedding" categories [4] - New product launches include the "One Life One Love" series of gold rings and the "DR Golden Crown" wedding five metals, both designed to meet modern consumer needs [4] - The company aims to enhance its product line to improve customer repurchase rates, particularly targeting the 35+ age group, which contributes over 20% to revenue [9] Channel Development - The company closed 48 underperforming stores and opened 16 new ones, resulting in a net decrease of 32 stores [6] - Single-store operational efficiency improved, with revenue per store increasing by 30.77% [6] - Future plans include enhancing brand presence in core urban areas and expanding into lower-tier cities [6] Online vs. Offline Strategy - The overall gross margin for the company was 66.40%, showing improvement due to optimized product sales structure [7] - The company maintains a unified product structure across online and offline channels to ensure brand consistency [7] - Online channels reach a broader audience, particularly younger consumers, while offline channels focus on experiential service [7] International Expansion - The company plans to expand into the U.S. market, focusing on diamond and wedding ring categories, leveraging its successful domestic strategies [11] - Future international expansion will also target Southeast Asia and Europe, building a global market network [11] - The company is exploring multi-brand development opportunities, capitalizing on the current low valuations of global jewelry brands [11]

Financial Performance - In Q3 2025, the company achieved revenue of 608 million CNY, a year-on-year increase of 36.22% [4] - The net profit attributable to shareholders was 25.49 million CNY, up 25.33% year-on-year [4] - For the first three quarters, total revenue reached 2.164 billion CNY, reflecting a 29.30% increase year-on-year, while net profit was 102 million CNY, a 32.58% rise [4] Strategic Initiatives - The company is focusing on optimizing product structure and adjusting channel strategies to drive quality growth [4] - There is a significant push towards enhancing online and offline channel integration, with a focus on e-commerce platforms like Tmall, JD, and Douyin [4] - The company plans to expand its store presence nationwide, with a focus on core business districts and partnerships with quality franchisees [5] Cost Management - The gross margin has remained stable, with effective cost control leading to a decrease in sales and management expense ratios by 1.02% and 0.19% respectively [4] Brand and Product Development - The company is engaging in long-term collaborations with popular IPs, such as a partnership with "Tomb Raider," to enhance brand loyalty and emotional connection with consumers [5] - Product lines are diversified into three categories: a high-end light luxury line, a trendy line for everyday wear, and a cultural heritage line emphasizing traditional craftsmanship [7] E-commerce Trends - E-commerce revenue growth is strong, with a shift from traffic-driven strategies to product-focused operations, leading to an expected increase in gross margins [9] - The company anticipates that the proportion of non-gold products will rise, reflecting changing consumer preferences [9] Market Expansion - The company is accelerating its national expansion, particularly in the North China and Southwest markets, while maintaining a focus on core urban areas for direct sales [8] - Future store openings will prioritize franchise models over direct sales, with a strategy to ensure deeper market penetration through franchise partnerships [8]

投资评级:增持(维持) | 基本数据 | 2025-10-29 | | --- | --- | | 收盘价(元) | 50.60 | | 流通股本(亿股) | 5.23 | | 每股净资产(元) | 24.58 | | 总股本(亿股) | 5.23 | 最近 12 月市场表现 -8% -2% 4% 10% 16% 22% 老凤祥 沪深300 门店实现净增，携手迈巴赫发力高端市场 老凤祥(600612) 证券研究报告 饰品 / 公司点评 / 2025.10.30 分析师 耿荣晨 SAC 证书编号：S0160525070002 gengrc@ctsec.com 分析师 杨澜 SAC 证书编号：S0160525080003 yanglan@ctsec.com 相关报告 1. 《切入银发科技赛道，发布 AI 智能眼镜》 2025-09-01 2. 《短期业绩承压，静待修复》 2025- 08-31 3. 《毛利率有所提升，门店突破 6000 家》 2024-09-05 核心观点 盈利预测 | [币种Table_FinchinaSimple] (人民币) | 2023A | 2024A | 2025E | 2026E ...

格隆汇10月30日丨潮宏基(002345.SZ)公布三季度报告，前三季营业收入62.37亿元，同比增长28.35%， 归属于上市公司股东的净利润3.17亿元，同比增长0.33%，归属于上市公司股东的扣除非经常性损益的 净利润3.14亿元，同比增长1.25%。 ...

文 | 《BUG》栏目 刘丽丽 10月30日， 是老铺黄金计划再次配售 27亿港元H股（732.5港元/股）的截止日期。 在两 天前发布的 2025胡润百富榜 上， 今年新上榜的企业家有 376位，新人之首 就 是 老铺黄 金 的徐 高明、徐东波父子，以 695亿元财富跻身前100 。 根据 此次 配售资金规划，老铺 黄金 拟用 70%资金储备黄金，相比上一次配售时的募资用 途，其加大了囤金的开支比例。 但令人担忧的是，在 过去一周多，黄金现货价格下跌了约 10% 。 而 原本 股价一度 反弹到 800 余港元 的老铺 黄金 ，在配售和金价大跌等因素的 影响下，一路又跌 破了 700港元，虽然略有反弹，但截止10月30日，老铺黄金的 配售价 仍高于股价，形成 倒挂，配售计划尚面临不确定性。 然而在消费市场，老铺黄金的涨价计划如约而至。近日，其官宣年内第三次调价正式执行。 与今年 2月、8月5%-13%的涨幅相比，此次调价力度创下年内新高，多款产品涨幅集中在 18%-25%，部分商品涨幅甚至突破28%。 有消费者直言，一款 "金香囊"吊坠涨价前标价11万元，涨价后价格变成了13万元，"一下 子涨这么多，实在是受 ...

本报讯(记者邬霁霞)10月29日晚间，曼卡龙（300945）珠宝股份有限公司(以下简称"曼卡龙")发布2025 年三季度报告。报告显示，前三季度公司实现营业收入21.64亿元，同比增长29.30%；实现归属于上市 公司股东的净利润1.02亿元，同比增长32.58%。第三季度，公司实现营业收入6.08亿元，同比增长 36.22%；实现归属于上市公司股东的净利润2549.36万元，同比增长25.33%。 此外，曼卡龙还通过优化组织机制，推行合伙人模式和项目制小组等方式，实行扁平化管理，全面提升 全渠道人效。2025年前三季度，曼卡龙销售费用为1.09亿元，销售费用率为5.06%，较上年同期下降 1.02个百分点。公司管理费用为5406.41万元，管理费用率为2.50%，较上年同期下降0.19个百分点。 渠道布局方面，曼卡龙进一步深耕核心优势区域，通过提升精准营销推广，加快电商渠道建设，同时通 过搭建线上新零售平台，赋能线下消费。财报显示，2025年前三季度，公司线上业务收入为11.90亿 元，较上年同期增长39.34%，收入占比54.99%；线下业务收入为9.74亿元，较上年同期增长20.25%，收 入占比45. ...