证券代码：300945 证券简称：曼卡龙 | |  特定对象调研 分析师会议 媒体采访 业绩说明会 | | | | | --- | --- | --- | --- | --- | | 投资者关系 | | | | | | 活动类别 | 新闻发布会 路演活动 | | | | | | （电话会议） 现场参观 其他 | | | | | 参与单位名称及 | 太平养老保险赵莹 | | | | | | 国联民生证券 邓文慧、李英 | | | | | | 嘉实基金吴越、鲍强、马晓煜 | | | | | 人员姓名 | 景顺长城邓敬东、孟棋、梁荣、唐翌 | | | | | | 信达证券蔡昕妤 | | | | | 时间 | 2025 年 月 日 | 5 | 20 | | | 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 | | | | | | 投资者关系活动 | 一、介绍环节 | | | 年一季 | | | 公司副总经理兼董事会秘书许恬就公司 2024 年度及 2025 | | | | | | 度经营情况做了介绍。 | | | | | | 二、问 ...

变动幅度 涨跌 老庙黄金价格 977 元/克 5月20日国内金价快报：国内品牌金店金价再次转跌，就是跌幅有点小，大多在4元/克。昨日的最高价 金店——周生生黄金下跌6元/克，报价982元/克，今日和六福等金店一起并列最高价金店。上海中国黄 金还是不涨不跌，报价943元/克，继续保持最低价金店的身份。今日金店黄金价差39元/克，价差继续 缩小。 具体各大品牌金店最新价格见下表格： 今日金价 单位 5 跌 六福黄金价格 982 元/克 4 跌 周大福黄金价格 982 元/克 4 跌 周六福黄金价格 982 元/克 4 今日金店黄金价格一览（2025年5月20日） 金店报价 跌 金至尊黄金价格 982 元/克 4 跌 元/克 3 跌 潮宏基黄金价格 982 元/克 4 跌 老凤祥黄金价格 980 周生生黄金价格 982 元/克 6 跌 菜百黄金价格 968 元/克 0 平 上海中国黄金价格 943 元/克 0 平 周大生黄金价格 982 元/克 4 跌 在关注黄金走势之余，再让我们来看一下铂金价格。以周生生黄金为例，今日黄金饰品价格下跌6元/ 克，铂金饰品继续微涨2元/克，报价409元/克。如果大家还想知道其他金店 ...

Group 1 - Gold stocks collectively strengthened on May 20, with notable gains from companies like Mankalon and Chao Hong Ji, as well as others such as Lao Pu Gold and Shandong Gold [1] - The jewelry industry is experiencing high demand, particularly for traditional high-craftsmanship gold jewelry, as evidenced by the successful launch of the first "Super Jewelry Release" event on May 15, which attracted over a million viewers and generated over ten million in sales for Lao Feng Xiang [1] - According to the National Bureau of Statistics, the retail sales of gold and silver jewelry saw a significant year-on-year increase of 25.3% in April, with the average closing price of AU9999 gold rising by 38.6% year-on-year [1] Group 2 - The Gold Stock ETF (517520) has seen a significant net inflow of over 300 million in the last five trading days, with a total market size of 3.934 billion, leading among similar products [2] - The CSI Hong Kong and Shanghai Gold Industry Stock Index, which tracks 50 major gold-related companies, increased by 24.05% in Q1 2025, outperforming the domestic gold price increase of 18.87% [2] - Analysts suggest that while short-term tax sentiment may suppress gold prices, long-term factors such as fiscal deficits and expectations of interest rate cuts will likely drive increased investment in gold [2] Group 3 - The manager of Yongying Fund, Liu Tingyu, indicated that gold stocks are expected to continue high growth due to rising gold prices and ongoing expansion in gold mining companies, with a trend towards high-end products in the jewelry sector [3] - Current price-to-earnings ratios for major gold stocks are below historical averages, suggesting potential for systemic valuation increases as gold prices rise [3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Views - The company reported a revenue of 20.23 billion yuan for 2024, representing a year-on-year growth of 22.2%, and a net profit attributable to shareholders of 720 million yuan, which is a 1.7% increase year-on-year. For Q1 2025, the revenue was 8.22 billion yuan, showing a year-on-year growth of 30.2%, with a net profit of 320 million yuan, up 17.3% year-on-year [2][6]. Summary by Sections Financial Performance - In 2024, the company's total revenue reached 20.23 billion yuan, with a year-on-year increase of 22.2%. The net profit attributable to shareholders was 720 million yuan, reflecting a growth of 1.7%. For Q1 2025, the revenue was 8.22 billion yuan, marking a 30.2% increase year-on-year, while the net profit was 320 million yuan, up 17.3% year-on-year [2][6]. Operational Highlights - The company achieved a total of 100 stores by the end of 2024, with a net increase of 13 stores. Offline revenue was 15.1 billion yuan, growing 13% year-on-year, accounting for 75% of total revenue. E-commerce revenue reached 4.8 billion yuan, a significant increase of 60% year-on-year, representing 24% of total revenue [11]. Product Performance - The gross profit for 2024 was 1.808 billion yuan, with a year-on-year increase of 2%. The gross profit margin for Q1 2025 was 8.3%, a decrease of 1.7 percentage points year-on-year. The company experienced a structural increase in gross profit due to the strong sales of investment gold products, despite a decline in the gross profit margin [11]. Future Outlook - The company plans to continue its steady expansion across all channels in 2025, with expectations for stable growth in overall performance. The dividend payout ratio for 2024 is maintained at a high level of 78%, indicating a strong commitment to shareholder returns. The projected EPS for 2025-2027 is expected to be 1.05, 1.16, and 1.27 yuan respectively [11].

国内金饰价格回落4元/克 金十图示：国内多家黄金珠宝品牌公布的境内足金首饰价格有所回落，多数报982元/克。 | | 周大生足金999 | 982 元/克 | | --- | --- | --- | | | 菜百首饰足金999饰品 | 972 元/克 | | 河南县 | 潮宏基足金(首饰摆件) | 982 元/克 | | TSL 謝瑞朗 | 谢瑞麟足金饰品 | 982 元/克 | | ਤੋਂ ਦੇ ਜ | 金至尊足金999 | 982 元/克 | | 周六福 | 周六福足金999 | 982 元/克 | @ JIN10.COM 0.C 金十数据 | 一个交易工具 ...

5月20日亚市早盘，comex黄金期货盘中小幅探底拉升，早盘一度跌至3215美元，目前报3233美元/盎 司；黄金相关ETF纷纷走强，截至发稿，黄金ETF华夏(518850)盘中一度涨0.18%，黄金股ETF(159562) 强势拉升涨1.5%冲击三连涨，其持仓股曼卡龙涨超12%，潮宏基涨超8%，特力A、菜百股份、老铺黄 金等金饰个股涨幅居前。 消息面上，老凤祥官微消息，天猫618已于5月16日晚8点开卖，淘宝天猫珠宝饰品行业首届"超级首饰发 布"启幕，老凤祥作为首场深度合作品牌，带来近百款古法高工艺黄金饰品。该发布秀全程6小时吸引了 超过百万人观看，当日品牌成交额突破千万，刷新老凤祥线上单日成交的最高纪录。据淘天超级首饰发 布相关负责人介绍，去年淘宝平台上高工艺金饰成交额同比增长超过400%，这次超级首饰发布的首秀 成绩，证明了工艺黄金消费的巨大潜力。 国信证券此前在研报中指出，复盘黄金股股价走势，其涨跌与黄金价格走势紧密相关，金价上行过程会 提振黄金的投资需求，黄金股易享受到业绩与估值同步提升的乘数效应，表现出较金价更大的弹性。 拉长时间来看，国际金价近一年大幅走强。自去年5月21日以来金价震荡走强，截至 ...

"聪明钱"流向曝光！暗盘资金破解主力操盘密码>> 黄金概念股走高，莱绅通灵（603900）涨停，曼卡龙（300945）、明牌珠宝（002574）、潮宏基 （002345）、赤峰黄金（600988）、周大生（002867）等纷纷走高。 ...

提到珠宝，尤其是宝石类，首当其冲被联想到的就是，保值和增值，这成为很多人钟爱购买珠宝的主要原因。 中国的珠宝市场也一直在增值。根据中研普华产业院发布的《2024-2029年中国金银珠宝首饰市场深度调查研究报告》显示，中国珠宝市场规模已从2018年 的5800亿元跃升至2023年的8200亿元，复合年增长率高达7.2%。2024年，该行业市场规模预计将超过9201亿元。 近期，来自香港的万邦珠宝公开向美SEC递交赴美上市招股书，计划在纳斯达克上市，股票代码：MPJS，计划发行150万普通股，占本次发行完成后的的 5%，发行价4—5美金。另外来自老股东计划出售130万股（MPJS Investment Co., Ltd。MPJS Investment Co., Ltd, a common investment holding company held by Mr. SZE Kam Fuk, Ms. SZE Sau Lan and Ms. SZE May Moon）预计本次发行市值在1.3亿美金。 值得关注的是，早在2019年，万邦珠宝曾向港交所递交招股书，拟在创业板上市。 黄金产品营收接近翻倍毛利率却下滑明显 招 ...

| 投资者关系 | 特定对象调研 分析师会议 | | | | | --- | --- | --- | --- | --- | | | 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 | 富国基金 武明戈、方竹静 | | | | | 人员姓名 | 兴业证券 代凯燕、彭心瑶、王萍 | | | | | 时间 | 2025 年 月 日 | 5 | 19 | | | 地点 | 电话会议 | | | | | 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 2024 年度及 2025 | | | 年一季 | | | 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。 ...

Core Viewpoint - The article discusses the differences between 18K and 24K gold jewelry, highlighting their unique characteristics, uses, and consumer preferences. Group 1: Gold Content and Value - Gold content, measured in karats (K), determines the purity and value of gold jewelry. 24K gold is pure gold with a content of 99.9% or higher, while 18K gold contains approximately 75% gold and 25% other metals [1][4]. Group 2: Color Variations - 24K gold has a pure yellow color that exudes luxury and elegance, making it suitable for high-end jewelry [7]. - 18K gold offers a variety of colors, such as rose gold and white gold, appealing to consumers seeking personalized styles [9]. Group 3: Hardness and Durability - 24K gold is relatively soft and prone to deformation, requiring careful maintenance to avoid scratches and damage [11]. - 18K gold has a moderate hardness, making it more suitable for intricate designs and everyday wear, as it is more durable and resistant to damage [13]. Group 4: Uses and Applications - 24K gold is often viewed as an investment and is suitable for collectors due to its high purity and value retention [16]. - 18K gold is more appropriate for daily wear, offering a balance of style and affordability, making it accessible to a broader audience [17]. Group 5: Price Considerations - 24K gold is expensive due to its high gold content, and consumers should be cautious of counterfeit products when purchasing [19]. - 18K gold is more affordable, appealing to consumers looking for stylish options without a significant financial burden [21]. Group 6: Fashion Pairing - 24K gold jewelry is ideal for formal occasions, enhancing the wearer's status and elegance [23]. - 18K gold jewelry is versatile for everyday outfits, easily complementing various styles and occasions [24]. Group 7: Maintenance Tips - Regular cleaning with appropriate jewelry cleaners is essential to maintain the luster of both 24K and 18K gold [26]. - Avoiding collisions and storing jewelry properly can prevent deformation and scratches [27]. - Professional repairs should be sought for any damage to ensure the longevity of the pieces [29].