Group 1 - The fifth China International Consumer Products Expo showcased new consumption experiences driven by technology and innovation, highlighting the integration of low-altitude economy, fashion tourism, and health consumption [1] - The event demonstrated a strong connection between the growing consumer demand of over 1.4 billion people in China and global technology, services, and products, fostering new opportunities and confidence for the future [1] Group 2 - The EH216-S, the world's first passenger drone, has obtained four essential certifications, including model qualification and operational compliance [3] - A split-type flying car, referred to as a "land aircraft carrier," can be driven with a C1 driver's license and has a range of 1000 kilometers on land or can recharge flying vehicles at least six times when fully fueled and charged [5] - The R6000 tilt-rotor aircraft model and the TD550, the first unmanned helicopter to receive a national model qualification certificate, were also featured [7] Group 3 - The small drones from Xunyi Technology offer various logistics solutions, showcasing advancements in drone technology [9] - Smart bionic hands can execute movements based on brain signals, representing significant progress in robotics [11] - Quadruped robotic dogs serve as companions and assist with elderly care and home safety [13] - Wearable exoskeleton robots enable users to lift heavy objects, such as 30-kilogram water bags, with ease [15] Group 4 - AR glasses, dubbed the "script-free artifact," provide features like object recognition, teleprompter capabilities, real-time translation, and navigation [19] - The "deep sleep cabin" concept addresses sleep issues, promoting better rest and recovery [21] - The combination of exhibitions and fashion shows allows consumers to experience immersive shopping, enabling immediate purchases during the event [26] Group 5 - The brand Lao Feng Xiang is innovating by creating new products from a young consumer perspective, including a collaboration with classic anime for a gold Saint Seiya series and a 998-gram gold phoenix crown [28] - The expo has established itself as a global hub for consumer goods and a significant indicator of market trends, with foreign merchants promoting their products in fluent Chinese [31]

Core Insights - L'ÉCOLE Jewelry Art Center in China will host the exhibition "Gems Unveiled: The Treasures of the Comédie-Française Stage Jewelry" from May 1 to October 7, 2025, showcasing over 100 pieces of stage jewelry and related artifacts from the Comédie-Française, marking their first appearance to the Chinese public [1][14]. Group 1: Exhibition Details - The exhibition will feature a dramatic setting that immerses visitors in the rich history of French theater, including stage jewelry, documents, and artworks [1]. - The Comédie-Française is recognized as one of the oldest and most iconic theater companies in the world, known for its significant role in French theatrical tradition [2]. - The exhibition aims to provide a dreamlike experience of a 19th-century theater night, with a recreation of the theater's ambiance and a focus on the behind-the-scenes world of stage jewelry [10]. Group 2: Art and Cultural Significance - Stage jewelry is often made from non-precious materials and serves as a narrative tool that reflects the social status of characters, with some pieces inspired by high jewelry [5]. - The exhibition will include notable items such as a gilded metal crown gifted by Napoleon and a brooch designed by René Lalique for Sarah Bernhardt, showcasing the legendary figures of French theater [5][10]. - The exhibition is part of the 19th edition of the "Spring of French Culture," aiming to deepen cultural dialogue and exchange between China and France [14]. Group 3: Research and Development - L'ÉCOLE has initiated a research project to uncover the secrets behind the Comédie-Française's collection, focusing on the craftsmanship and materials used in stage jewelry [11]. - The research has led to the restoration of several precious items, enhancing the understanding of their significance and craftsmanship [11]. - The exhibition will also highlight the influence of Eastern aesthetics on 19th-century stage art, featuring costumes inspired by both French and Chinese theatrical traditions [10].

港股午间收盘，恒生指数涨0.12%，恒生科技指数涨0.81%。老铺黄金、阿里健康涨超6%，蔚来-SW涨 近5%。 ...

Group 1 - The cultivated diamond concept index rose by 0.16%, ranking 7th among concept sectors, with six stocks increasing in value, led by Mankalon, Chaohongji, and Guoli Co., which rose by 15.10%, 5.21%, and 2.56% respectively [1] - The leading decliners in the cultivated diamond sector included World, Huifeng Diamond, and Power Diamond, which fell by 3.93%, 3.46%, and 3.45% respectively [1] - The main capital outflow from the cultivated diamond sector was 0.52 billion yuan, with eight stocks experiencing net inflows, the highest being Chaohongji with a net inflow of 20.23 million yuan [1] Group 2 - In terms of capital inflow ratios, the top stocks were Boyun New Materials, Chaohongji, and Hengsheng Energy, with net inflow rates of 11.77%, 6.15%, and 6.14% respectively [2] - The cultivated diamond concept capital inflow leaderboard showed Chaohongji with a daily increase of 5.21% and a turnover rate of 4.12%, alongside Boyun New Materials with a slight decrease of 0.29% and a turnover rate of 4.01% [2] - Mankalon led the sector with a significant increase of 15.10% and a turnover rate of 18.41%, while World saw a decline of 3.93% with a turnover rate of 2.20% [3]

迪阿股份有限公司 证券代码：301177 证券简称：迪阿股份 投资者关系活动记录表 编号：2025-001 关于经营区域方面，中国市场作为我们的核心区域，经过 2023-2024 年的持续深耕，已经确立了绝对领先地位。未来我们将进一步强化头部效 应，提升品牌影响力。全球化也是我们的重要战略方向，从巴黎、美国等 市场的初步尝试来看，"一生只送一人"的真爱理念具备跨文化接受度， 这验证了"真爱无国界"的品牌普适性。作为全球珠宝行业中唯一专注于 "真爱"表达的品牌，DR 具备独特的差异化优势。我们将持续推进品牌全 球化进程，致力于成为真正意义上的全球真爱表达标杆品牌。 2、25 年一季度扣非净利润已经转正，但同时也还在继续收缩门店，目前 公司判断门店是否关停有什么样的标准，在 1-2 年维度看，预计门店规模、 收入会达到什么样的稳态，届时的利润预期是什么？ 答：公司通常会综合考虑一个城市的体量（主要是人口数量和 GDP）， 同时考虑各门店所覆盖的商圈、落位以及业绩等来判断是否关停门店。从 效果来看，公司通过 2024 年实施的战略性渠道优化，存量门店运营质量 已实现结构性提升。 关于收入和利润，在当前市场环境下确实 ...

4月26日，迪阿股份（301177）（301177.SZ）披露2024年及2025年第一季度业绩报告。2024年，公司实 现营业收入14.82亿元，归母净利润5,302.95万元，经营活动产生的现金流量净额3.16亿元，同比大幅增 长755.27%。2025年一季度，公司业绩企稳回升，营业收入约4.08亿元，较去年四季度环比上涨近 10%，扣非后的归母净利润为605.84万元，同比增幅达202.40%。 随着经济的发展和居民收入水平的提高，消费者对珠宝的需求不再仅仅是数量上的满足，而是更加注重 品质、设计、品牌内涵等方面。珠宝行业逐步从"万店扩张"，向品牌化、高端化升级，并借助全渠道运 营开辟更广阔的发展空间。 迪阿股份依托信息系统优势和实体门店的拓展，搭建了"线下门店+线上平台"的全渠道DTC运营模式。 线上业务层面，公司紧抓新媒体时代流量变迁的契机，重点布局抖音、微信、小红书、TikTok等平台， 形成了覆盖天猫、京东、公司官网、小程序、各大社交媒体和私域流量等线上营销网络。 2024年下半年以来，迪阿股份线上自营业务企稳回升，2024年实现营业收入2.42亿元，较上年同期增长 6.57%。其中，得益于海 ...

Group 1 - A-shares saw collective gains in the morning session, with the Shanghai Composite Index up 0.04%, the Shenzhen Component Index up 0.7%, and the ChiNext Index up 1.02%, with a total market turnover of 789.2 billion yuan [2] - The U.S. stock market experienced significant gains, with the Dow Jones up 2.66%, the Nasdaq up 2.71%, and the S&P 500 up 2.51%, driven by a rally in major tech stocks [5][6] - The U.S. dollar index rebounded to above 99 points, influenced by President Trump's acknowledgment of high tariffs on Chinese goods and expectations of a significant reduction in these tariffs [8][20] Group 2 - Gold prices experienced a sharp decline, with the gold sector seeing significant drops, including Mingpai Jewelry nearing a limit down and Chifeng Gold and Sichuan Gold among the largest decliners [22][23] - The gold price fell by approximately $50, attributed to improved market sentiment following Trump's comments and the strengthening of the U.S. dollar, which diminished gold's safe-haven appeal [24][25] Group 3 - BYD announced a substantial profit distribution plan, proposing a cash dividend of 39.74 yuan per 10 shares (totaling approximately 12.077 billion yuan) and a stock split of 8 shares for every 10 held, along with a capital reserve conversion of 12 shares for every 10 held [30] - Following the implementation of this plan, BYD's total share capital will increase from 3.039 billion shares to 9.117 billion shares, significantly lowering the investment threshold for shareholders [30][31]

"一来到这里，就有种我要结婚了的感觉，仪式感满满的！"一位网友在社交媒体上写道。 上海外滩边，南京东路核心商圈，世界奢牌聚集地大丸百货。在这样的商业地标，2024年7月，全新升 级的DR上海大丸红金店铺一亮相便成为大丸百货的又一流量高地。 这是DR渠道升级战略的最新"落子"。作为上市珠宝企业迪阿股份（301177）的主力品牌，DR坚守和传 递"一生.唯一.真爱"的品牌理念，在求婚钻戒领域形成独特的品牌优势。 据上海大丸红金店经理介绍，红金店是DR最新升级的门店模型之一。在选址上，优先选择一线或新一 线城市核心商圈，毗邻高端购物中心、五星级酒店或文化地标；在差异化定位上，红金店定位"高端婚 嫁珠宝标杆店"，聚焦全琢型克拉钻、黄金婚嫁系列及限量款；在空间设计上，红金店采用心形设计元 素并划分"浪漫婚嫁""东方囍嫁"等主题区。 在中式东方囍嫁区，结合近年消费者的黄金偏好，上海大丸红金店拥有款式最独特的黄金首饰，还有限 量发售的黄金手捧花。门店还设有全球区，囊括世界各地如法国、意大利、日本等受欢迎的戒指款式。 事实上，在改造之前，DR上海大丸门店也经历过低谷期，月均店效曾从高峰期的百万元下滑至较低水 平。 DR零售业 ...

文 ： 华创证券研究所副所长 、首席宏观分析师 张瑜（执业证号：S0360518090001） 联系人： 陆银波（15210860866） 韩港（微信 HGK1366） 核心观点 本文从行业协会视角出发，观察 20 大中观行业的现状与未来趋势。 1 ）当前供需失衡、需求不足等问题仍然存在。 2 ）但边际上，已出现一定积极迹象， 表现为：企业正通过调整改造、并购重组等方式重构行业格局（例 如百货行业）；在总量偏弱背景下不乏结构性亮点（例如珠宝消费承压，但黄金高增）； 3 ）往后看，关注四个趋势： 通过供改改善行业环境（如光伏 / 钢铁 / 石化 / 水泥等 ）；新的增长极正在 形成（ AI/ 软件 / 演出等）； AI 助力降本提效（如餐饮 / 珠宝 / 百货等）；深耕细分领域（服装 / 珠宝 / 白酒等）。 报告摘要 一、供需失衡等症结仍存 1 ）供求失衡问题，主要集中在周期、制造业领域 ，例如： a ）石化，"面临深度调整的阵痛期"； b ）钢 铁，需求自 2020 年连续 4 年下滑，且"新的供需动态平衡机制尚未建立"； c ）水泥，"水泥市场饱和度较 高"，在需求下滑的背景下， 内卷式竞争加剧； d ） ...

Core Viewpoint - The company, Diya Co., is navigating challenges in the jewelry industry while leveraging its unique brand positioning and global expansion strategies to maintain resilience and growth amidst market fluctuations and increased tariffs [1][9]. Industry Overview - The Chinese jewelry market is projected to reach approximately 778.8 billion yuan in 2024, showing a slight decline from 2023 but still reflecting a strong consumer base and potential demand [2]. - The jewelry industry is facing challenges due to global economic volatility, with gold gaining popularity as a safe-haven asset, while the diamond sector has experienced a downturn [2]. Company Strategy - Diya Co. is actively exploring new markets and channels, particularly in Europe and the U.S., to counteract the impacts of tariffs and market competition [2][9]. - The company emphasizes a differentiated brand identity centered around the theme of love, utilizing new media platforms for brand promotion and channel upgrades [2][4]. Brand Differentiation - The DR brand is a core asset for the company, known for its unique value proposition of "one ring for one person," which reinforces the commitment to love [3][6]. - The company invests in technology, including decentralized blockchain encryption, to ensure the uniqueness and security of customer identities, enhancing the luxury aspect of its products [3][4]. Financial Health - As of Q3 2024, the company holds over 5.1 billion yuan in monetary assets and maintains a low debt ratio of less than 12%, positioning it favorably within the industry [5]. - The company has consistently provided stable dividends since its IPO in 2021, which is significant for long-term investors [5]. Brand Story and Consumer Engagement - The DR brand was founded on a personal love story, aiming to create meaningful engagement through its products, which are designed to symbolize lifelong commitments [6][7]. - The brand has garnered a following of over 30 million fans who resonate with its message of true love, including endorsements from various celebrities [8]. Global Expansion and Future Vision - The company is committed to a multi-brand, omnichannel, and global development strategy, aiming to position DR as a leading symbol of love worldwide [9][10]. - The long-term vision includes establishing DR as the premier wedding ring brand globally, while also tapping into the domestic market's potential in lower-tier cities [9][10].