以下文章来源于中新经纬 ，作者郑艺佳 中新经纬 . 中新经纬是由中国新闻社主办的财经新媒体，拥有中国互联网新闻信息采编发布服务资质。以手机客户端（APP）等为主要传播 平台，以"权威、前瞻、专业、亲和"为特色宗旨，传播财经资讯、解读经济政策、讲述商界故事，打造精英的财经资讯平台。 近日，有网友在社交平台等反馈，收到了奢侈品牌卡地亚（Cartier）发送的邮件通知，称近期有未经授权者短暂进入系统并获取 部分有限的客户数据。 卡地亚客服4日向中新经纬确认邮件内容属实， 并表示目前已经采取措施对该情况进行了妥善控制，并且已对系统和数据加强保 护。 ( artier 我们谨此通知您,近期有未经授权者短暂进入我们系统并获取部分有 限的客户数据。我们已采取措施妥善控制该情况,同时对系统与数据 进一步加强保护。此外,我们亦已通知相关部门,并正与业界领先的 外部网络安全专家合作处理此事。 根据调查结果,您的部分信息或受此次事件影响,其中包括您的姓 名、电子邮件地址、所在国家/地区及出生日期。任何密码、信用卡 数据或其他银行信息资料均未受到影响。 部分网友称，自己并未买过卡地亚的产品，但也收到了通知邮件。 文 ｜ 郑艺佳 编辑 ...

Core Insights - The timing of Chow Tai Fook's hearing at the Hong Kong Stock Exchange is strategic, reflecting a deep understanding of the Chinese consumer market and the current gold industry boom [2] Group 1: Business Model and Growth - Chow Tai Fook operates a vast network of 4,129 stores across 31 provinces and 305 cities in China, as well as extending into Southeast Asia, which serves as a significant competitive advantage [3] - The company generates over 83% of its revenue from a franchise model, allowing for rapid expansion with a lightweight operational structure. Revenue is projected to grow from RMB 3.102 billion in 2022 to RMB 5.718 billion in 2024, representing an over 84% increase [3][6] - The company's net profit has shown steady growth, increasing from RMB 575 million in 2022 to RMB 706 million in 2024, driven by scale effects and high-margin service contributions [6] Group 2: Financial Performance - Chow Tai Fook's gross margin is projected to decline from 38.7% in 2022 to 25.9% in 2024, reflecting a strategic shift in revenue structure due to increased sales of lower-margin gold products as store expansion continues [5] - Online sales are expected to account for 40% of total revenue by 2024, with a compound annual growth rate of 46.1%, positioning the company as a leader in the industry [7] - The financial model emphasizes scale leverage, resilient service fees, and optimized channels, maintaining a compound annual growth rate of net profit at 10.8% despite gold price fluctuations [8] Group 3: Strategic Directions - The upcoming IPO will focus on four strategic areas, including product innovation to enhance design value and the establishment of a smart supply chain to support omnichannel operations [10] - The company's strategy is centered on building a robust scale barrier and channel resilience rather than chasing short-term profit peaks, showcasing a sustainable growth trajectory [10] - Future plans include deepening market penetration in lower-tier cities and enhancing brand differentiation in a highly homogeneous market [13]

Group 1 - The domestic gold jewelry prices remain stable, with most brands reporting a price of 1020 CNY per gram for 24K gold jewelry [1][5] - Some brands, such as Chow Sang Sang and Lao Miao Gold, have seen a slight decrease in their gold jewelry prices [1] Group 2 - Specific prices for various brands include: - Chow Tai Fook: 1020 CNY per gram - Caibai Jewelry: 995 CNY per gram - Chao Hong Ji: 1020 CNY per gram - TSL: 1020 CNY per gram - King of Gold: 1020 CNY per gram - Zhou Li Fu: 1000 CNY per gram [5]

翠华珠宝后起之秀，锋芒不让 菜百股份稳扎稳打步步为营，堪为教科书案例 多研究领涨股，以及它们的行业归属和联动性。 潮宏基的早期领涨，奠定首饰分支的主锚位置，完美的猛兽轮廓侧写 如上图，首饰行业指数的价格、成交量、动量VAD都是一致峰峰攀高，整个市场如此完美的结构独此一份。 这就是本ID在量价系列文章中探讨过的宏观舒展结构，有此结构不涨都难。 整个蛰伏过程，单从价格形态看，看不出任何端倪的，但是价、量、动量结合起来评估，就能体会其中之妙。 一阶段和二阶段的转折点，RSR恰逢其时地翻红，伴随二次超量突破后，开启单边扬升。 与此配套的是首饰类别中多只个股一季报报喜，而当前涨得最好的就是它们。 曼卡龙的完美吸筹过程和攻击韵律 ...

2022年至2024年，周六福线上销售收入的复合年增长率为46.1%。 财务数据方面。 202 2 年至 202 4 年，周六福的营收分别为 31.02亿元 、 51.50亿元 和 57.18 亿元 ，复合年增长率为 3 5 . 8 %。根据弗若斯特沙利文的报告，这一增速在全国性珠宝公司中排 名第一，且远超过同期行业平均水平的 2.7 % 。 同期，周六福的净利润分别为 5.75亿元 、 6.60亿元 和 7.06亿元，复合年增长率为10.8%。 周六福在招股书中表示， IPO募集所得资金净额将主要用于扩大和加强销售网络；加强品牌以提高 品牌市场知名度；提升产品供应并加强产品设计与开发能力；以及用作运营资金及一般企业用途。 本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 周六福珠宝股份有限公司 （以下简称 "周六福"）日前通过港交所聆讯并于6月 3日披露通过聆讯后的资料集，中金公司和中信建投国际担任联席保荐人。 成立于 2004年的周六福集珠宝产品的开发设计、采购供应、加盟、品牌运营为一体。 截至 202 4 年 12月31日，周六福在31个省份 ...

Core Viewpoint - The company, Zhou Dazheng Jewelry Co., Ltd., has announced its 2024 annual profit distribution plan, which includes a cash dividend of 6.5 yuan per 10 shares for eligible shareholders, totaling approximately 705.56 million yuan [3][8]. Summary by Sections 1. Profit Distribution Plan - The total number of shares eligible for profit distribution is 1,085,473,893 shares after excluding 10,452,372 shares held in the company's repurchase account [2][3]. - The cash dividend distribution is based on the company's total profit available for distribution to shareholders, calculated as 705,558,030.45 yuan [3][13]. 2. Dividend Calculation - The cash dividend per share after the distribution will be 0.6438006 yuan, calculated by dividing the total cash dividend by the total number of shares [3][13]. - The reference price for the ex-dividend date will be adjusted by subtracting the cash dividend per share from the closing price on the record date [3][13]. 3. Record and Ex-Dividend Dates - The record date for the profit distribution is set for June 10, 2025, and the ex-dividend date is June 11, 2025 [9]. 4. Distribution Method - Cash dividends will be directly credited to the accounts of A-share shareholders through their respective securities companies on the ex-dividend date [11]. - The company will handle the distribution of cash dividends for certain A-share shareholders directly, assuming responsibility for any discrepancies during the distribution period [12]. 5. Consultation Information - The company has provided contact details for inquiries regarding the profit distribution plan, including the office address, contact persons, and phone numbers [14].

水是沿着最小阻力线流动的，市场波动也是一样，因为人性是趋利避害的。想像下，当河流遇到阻挡 时，就会聚集成小湖，看似平静的水面，实则是在聚集能量，重新选择方向。当市场选择一个位置突破 时，正是河流的最小阻力方向。 ——笔记哥《应对》 【笔记20250603— 利率债，"半新不旧"经济的代表（-外媒称中美领导人本周将通话-股市上涨+5月财新 制造业PMI低于预期+资金面均衡偏松=小上)】 资金面均衡偏松，长债收益率小幅上行。 央行公开市场开展4545亿元7天期逆回购操作，今日有8300亿元逆回购到期，净回笼3755亿元。 月初资金面均衡偏松，资金利率回落，DR001在1.41%附近，DR007在1.55%附近。 | | | | 银行间资金 | (2025. 06. 03) | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 回购代码 | 加权利率 | 变化 | 利率走势 | 最高利率 | 变化 | 成交量 | 变化量 | 成交量占 | | | (%) | (bp) | (近30天) | (%) | (bp) | (亿元) | (亿 ...

Market Overview - A total of 83 stocks hit the daily limit up in the A-share market, with 69 stocks hitting the limit after excluding 14 ST stocks, resulting in an overall limit-up rate of 70.94% [1] Top Performers - Yuyin Co. had the highest limit-up order volume with 932,600 hands, followed by Cuiwei Co., ST United, and Hexing Co. with order volumes of 331,200 hands, 324,900 hands, and 245,200 hands respectively [2] - In terms of consecutive limit-up days, Debang Co. achieved 5 consecutive limit-ups, while Yuyin Co. and Lianhua Technology had 4 consecutive limit-ups [2] - 19 stocks had limit-up order funds exceeding 100 million yuan, with Yuyin Co., Hexing Co., and Cuiwei Co. leading with 650 million yuan, 539 million yuan, and 410 million yuan respectively [2] Financial Technology Sector - Yuyin Co. has seen a year-to-date increase of 54.89% and recently announced no undisclosed matters related to stock trading anomalies [2] - The company is focusing on the digital transformation of financial institutions due to the reduced frequency of cash usage and the acceleration of mobile payment adoption [2] Gold and Jewelry Sector - Multiple stocks in the gold and jewelry sector hit the limit up, including Caibai Co., Western Gold, Mankalon, and Cuihua Jewelry [3] - Caibai Co. is promoting its "Caibai Chuan Shi" sub-brand focusing on traditional gold, while Western Gold plans to acquire 100% of Xinjiang Meisheng Mining Co. [3] Digital Currency Sector - Hengbao Co. and Cuiwei Co. also hit the limit up, with Hengbao being one of the first companies to participate in the digital RMB pilot program [4] - Cuiwei's subsidiary is focusing on upgrading digital payment products and enhancing the digital payment ecosystem [4] Pharmaceutical Sector - Several pharmaceutical stocks, including Qianhong Pharmaceutical, Hainan Haiyao, and Jiuzhitang, achieved limit-up [5] - Qianhong Pharmaceutical is developing new drugs primarily in oncology and cardiovascular fields, while Hainan Haiyao collaborates with China Pharmaceutical University for innovative drug research [6] Stock Market Activity - Agricultural Bank of China saw a net purchase exceeding 400 million yuan in the stock market [6] - Notable net purchases included Sifang Precision, Jianghuai Automobile, and Mankalon, with net buying amounts of 397 million yuan, 205 million yuan, and 108 million yuan respectively [6]

证券研究报告/投资策略 机构调研、股东增持与公司回购策略周报（20250526-20250530） 投资要点 ➢ 机构调研热门公司梳理 近30天机构调研数前二十的热门公司有大族激光、周大生、曼卡龙、斯迪克、汇 川技术等。近5天机构调研数前二十的热门公司有大族激光、三友联众、周大生、 能辉科技、斯迪克等。近30天机构调研数前二十的热门公司中评级机构家数大于 或等于10家的有3家，分别为周大生、汇川技术和深南电路。深南电路、台华新 材、大族激光2024年归母净利润相较2023年实现较大增长。 ➢ 本周A股上市公司重要股东增持情况 2025年5月26日至2025年5月30日，发布重要股东增持进展情况公告的公司共计 2家，分别为中国黄金和新华医疗，拟增持金额上下限均值占最新公告日市值比 例分别为1.76%和1.61%。 ➢ 本周A股上市公司回购情况 ➢ 2025/01/01-2025/05/30部分上市公司回购情况 2025年1月1日至5月30日，共计1491家公司发布回购进展情况公告，评级机 构家数大于10家（含10家）的共329家公司，其中回购比例较大，预计回购 金额上下限均值占预案日市值比例大于1%的有99家， ...

具体来看，今日上榜的营业部中，共有4家机构专用席位现身，即买二、买四、卖二、卖四，合计买入 金额5613.73万元，卖出金额4671.01万元，合计净买入942.72万元，深股通为第一大买入营业部及第一 大卖出营业部，买入金额为4186.03万元，卖出金额为2929.02万元，合计净买入1257.01万元。 潮宏基今日涨停，全天换手率8.32%，成交额10.93亿元，振幅12.69%。龙虎榜数据显示，机构净买入 942.72万元，深股通净买入1257.01万元，营业部席位合计净买入1630.95万元。 深交所公开信息显示，当日该股因日涨幅偏离值达9.52%上榜，机构专用席位净买入942.72万元，深股 通净买入1257.01万元。 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2.83亿元，其中，买入成交额为1.61亿 元，卖出成交额为1.23亿元，合计净买入3830.67万元。 资金流向方面，今日该股主力资金净流入5858.77万元，其中，特大单净流入4651.27万元，大单资金净 流入1207.50万元。近5日主力资金净流入1.89亿元。（数据宝） 潮宏基6月3日交易公开信息 | 买/ | 会员 ...