（来源：中华工商时报） 转自：中华工商时报 国际金价居高不下，品牌金饰加工费水涨船高，在此背景下，"居家打金"热潮在社交媒体悄然兴起。网 购一套百元工具，跟着视频教程动手，就能将旧金饰改造成流行款式，还能省下高额工费。这样的"美 好愿景"，让不少消费者趋之若鹜。社交平台上，"居家打金Vlog""新手全记录"等"种草"内容层出不 穷，仿佛一夜之间，"打金"成了人人可掌握的手作技能。然而，在这份看似浪漫的DIY体验背后，潜藏 的安全隐患与财产风险不容忽视。理性审视这股热潮，厘清消费诉求与风险边界，既是对消费者权益的 保护，也是维护市场秩序的要求。 居家打金热潮的兴起，本质上是消费者在高成本压力下的省钱诉求与个性化消费需求的叠加。近年来， 国际黄金市场波动加剧，金价屡创新高，让不少消费者望而却步。与此同时，年轻人对黄金饰品的需求 从传统保值转向个性化表达，追求"换款自由"成为新趋势。当品牌专柜的定制服务难以兼顾性价比与个 性化时，操作看似简单、成本相对低廉的"居家打金"成为替代选择。电商平台数据显示，一套包含气 罐、火枪、石膏模具的打金工具套装售价仅百元左右，某款139元的套装销量已超7000件，背后正是这 种消费 ...

作者 | 第一财经 王方然 封图｜金雅福集团原罗湖总部现场大门紧缩。摄影/王方然 今年6月，陈涛（化名）发现他购买的一款黄金理财产品收益突然中断。此前，他在金雅福购买投资黄金后，与推荐的第三方签订委托合同，投向"文化 金"销售业务，承诺年化收益8%至14%。在投资的第一年，他的年化收益率为10%。但自今年6月起，款项未再到账。到了11月，多个投资者社群的信息显 示，类似产品已普遍违约。 另一位投资者阿丽（化名）通过代持人购买的与金雅福相关的一款私募产品，同样从6月起停止兑付。但当时公司提出多项产品升级方案安抚投资者，阿 丽也就暂时作罢。 据第一财经调查，11月开始，与金雅福相关的多款产品出现大面积逾期，部分产品承诺年化收益率超过10%，涉及资金或达70亿至80亿元。 其中，有些产品以"黄金委托"为名，引导消费者签订黄金买卖合同后并不提取实物，转而与关联方签订委托合同开展投资，承诺固定收益。另有部分名义 上投向股权或黄金回收项目的私募产品，在补充协议中通过回购承诺、担保补足等形式提供隐性保本，或涉嫌构成"名股实债"。 近日，第一财经记者实地探访金雅福位于深圳罗湖的集团总部，现场已基本搬空，办公场所大门紧锁，房屋 ...

Core Viewpoint - The article discusses the financial troubles faced by Jinyafu Group, highlighting widespread defaults on investment products and potential illegal fundraising activities [2][3][39]. Group 1: Company Overview - Jinyafu Group, established in 2006, is a well-known gold processing company based in Shenzhen, specializing in a comprehensive range of services in the gold and jewelry industry [5]. - The company has developed into a one-stop service provider, including cultural innovation research, smart manufacturing, personalized customization, smart retail, gold recycling, refining, and logistics [5]. Group 2: Investment Product Issues - Since June 2023, multiple investment products associated with Jinyafu have experienced significant payment defaults, with estimated funds involved ranging from 7 billion to 8 billion yuan [2][5]. - Many of these products promised annual returns exceeding 10%, with some investors reporting that their returns ceased as of June [2][3]. - The company has proposed several "upgrade plans" to delay the pressure from these defaults, including converting expired projects into franchise operations and offering debt guarantees from related parties [5][6]. Group 3: Legal and Regulatory Concerns - Legal pressures have intensified, with multiple civil cases against Jinyafu, including a significant case related to financial contract disputes set to be heard in December 2023 [8][39]. - The company has been accused of using complex contractual arrangements to mislead investors, particularly through a model labeled as "golden entrustment," which has raised concerns about potential illegal fundraising [12][39]. - Regulatory bodies have indicated that the company's practices may violate laws against illegal fundraising, as they appear to attract public investment without proper authorization [39]. Group 4: Investment Models and Returns - Jinyafu's investment products often involve a two-step process where investors first sign a physical gold purchase contract without taking delivery, followed by a contract with a third party for investment purposes [12][20]. - The "Cultural Gold" product claims to offer high returns through various sales channels, but industry insiders question the feasibility of achieving promised profit margins [14][15]. - Some investment agreements include clauses that effectively guarantee returns, blurring the lines between equity investment and debt, which raises further regulatory concerns [31][34]. Group 5: Investor Experiences and Reactions - Investors have reported significant delays in receiving payments, with some employees of Jinyafu also experiencing reduced benefits and delayed salaries [8][39]. - The company has been accused of using "pyramid schemes" to circumvent investor qualification requirements, allowing individuals with insufficient financial assets to participate in high-risk investments [34][39].

政府已成立专班介入处理，具体处置方案正在研究中。 今年6月，陈涛（化名）发现他购买的一款黄金理财产品收益突然中断。此前，他在金雅福购买投资黄金后，与推荐的第三方签订委托合同，投向"文化 金"销售业务，承诺年化收益8%至14%。在投资的第一年，他的年化收益率为10%。但自今年6月起，款项未再到账。到了11月，多个投资者社群的信息显 示，类似产品已普遍违约。 另一位投资者阿丽（化名）通过代持人购买的与金雅福相关的一款私募产品，同样从6月起停止兑付。但当时公司提出多项产品升级方案安抚投资者，阿丽 也就暂时作罢。 据第一财经调查，11月开始，与金雅福相关的多款产品出现大面积逾期，部分产品承诺年化收益率超过10%，涉及资金或达70亿至80亿元。 其中，有些产品以"黄金委托"为名，引导消费者签订黄金买卖合同后并不提取实物，转而与关联方签订委托合同开展投资，承诺固定收益。另有部分名义上 投向股权或黄金回收项目的私募产品，在补充协议中通过回购承诺、担保补足等形式提供隐性保本，或涉嫌构成"名股实债"。 近日，第一财经记者实地探访金雅福位于深圳罗湖的集团总部，现场已基本搬空，办公场所大门紧锁，房屋租赁关系已终止。据深圳市盐田区打 ...

政府已成立专班介入处理，具体处置方案正在研究中。 今年6月，陈涛（化名）发现他购买的一款黄金理财产品收益突然中断。此前，他在金雅福购买投资黄金后，与推荐的第三方签订委托合同，投向"文化 金"销售业务，承诺年化收益8%至14%。在投资的第一年，他的年化收益率为10%。但自今年6月起，款项未再到账。到了11月，多个投资者社群的信息显 示，类似产品已普遍违约。 另一位投资者阿丽（化名）通过代持人购买的与金雅福相关的一款私募产品，同样从6月起停止兑付。但当时公司提出多项产品升级方案安抚投资者，阿丽 也就暂时作罢。 据第一财经调查，11月开始，与金雅福相关的多款产品出现大面积逾期，部分产品承诺年化收益率超过10%，涉及资金或达70亿至80亿元。 据投资者提供的资料，这些方案包括：将到期项目转为"智慧金店"加盟或代运营、由关联方提供债务连带责任担保，以及将债权转化为关联企业深圳上善智 能有限公司的股份（下称"上善智能"）未来上市后的股权。 值得注意的是，这些展期方案都附有高额回报承诺。 以上述债权转股权方案为例，公司承诺将设立持股平台，客户通过持股平台间接持有上善智能的股份，根据上善智能的股权估值以及持股平台对应客户的债 ...

wumiancaijing.com / 最热的泛财经新闻，都在这儿了。 重要提醒！！！为防失联，请"星标"我们！进入无冕财经公众号，点击右上角"..."，再""，以便您及时接收每篇推送~ 本文由无冕财经（wumiancaijing）整理发布 资讯整理：小冕 编辑：陈涧 设计：岚昇 飞天茅台批价跌破1499元 分析称短期内或仍将下滑 12月12日，据第三方平台今日酒价披露的批发参考价显示，2025年飞天原箱较前一日下跌15元，报1495元/瓶； 2025年 飞天茅台散瓶较前一日下跌15元，报1485元/瓶。 这是飞天茅台的价格首次低于1499元的官方指导价。 ▲图片来自今日酒价。 据今日酒价年初披露的数据，2025年飞天茅台散瓶及原箱的批发参考价均超2200元/瓶。但其价格此后不断下滑。6月22 日跌至1900元以下，6月25日再破1800元，虽7月7日短暂反弹至1880元，但8月29日再度失守1800元，10月底跌破1700 元，11月末跌破1600元。 本轮价格下跌中，电商平台的表现尤为引人注目。 11月初，随着各大电商平台启动促销活动，部分平台的53度飞天茅台补贴后价格已出现低于市场批发价的情况，拼多多 ...

Group 1 - Sohu is transitioning from a traditional internet media platform to a social platform, focusing on "attention flow" where users can share, follow, and consume content, enhancing social interactions through video [1] - The dairy industry in China is shifting from quantity to quality, with a growing demand for precise, professional, and functional nutritional products, leading to a focus on deep processing as a key for industry upgrade [1] Group 2 - In the face of a downward cycle in the liquor industry, companies must innovate by creating competitive "super products" supported by "super channels, super communication, and super experiences" to achieve growth [2] - The long-term bullish trend for gold remains intact, but a short-term adjustment is expected due to rapid price increases, with recommendations for asset allocation in gold ranging from 5% to 30% [2] - The core logic for gold's price increase in 2025 remains unchanged, with expectations for further increases in gold allocation by global central banks and investors in 2026, despite current high valuations potentially leading to increased price volatility [2]

Group 1 - The Shenzhen Shui Bei market, China's largest gold wholesale market, is experiencing a significant decline in trading activity, entering a "semi-stagnation" state due to the impact of newly introduced gold tax policies [4] - The recent accident at the China Grain Storage Corporation resulted in 7 fatalities and 1 serious injury, with direct economic losses amounting to 13.465 million yuan [4] Group 2 - Meta's internal documents reveal that approximately 10% of its revenue, around $16 billion, comes from fraudulent and prohibited advertisements, highlighting regulatory gaps in its advertising business [7] - Starting January 1, 2026, China's new energy vehicle purchase tax will shift from full exemption to a 50% reduction, prompting a new consumption peak in the market [8] - Industry insiders suggest that stricter technical thresholds will compel automakers to increase investment in core technology research and development, focusing on product quality and energy efficiency rather than relying solely on policy incentives [8] Group 3 - The sales revenue of the Pang Dong Lai commercial group has surpassed 20 billion yuan, exceeding last year's total by 3 billion yuan [8] - Shandong Airlines has responded to criticism regarding its cabin crew's attire, emphasizing the importance of respect and comfort in their uniforms [9] Group 4 - Pfizer has agreed to acquire Metsera for up to $10 billion, outbidding Novo Nordisk amid regulatory challenges [13] - Major restaurant chains in the U.S. have issued warnings about declining consumer spending among low-income customers, which could significantly impact the overall economy [13]

Core Viewpoint - The market showed mixed performance in early trading, with the Shanghai Composite Index slightly up by 0.04%, while both the Shenzhen Component Index and the ChiNext Index fell over 1% [1] Market Performance - The Shanghai Composite Index closed at 3956.72 points, up 0.05% - The Shenzhen Component Index closed at 13237.03 points, down 1.06% - The ChiNext Index closed at 3143.95 points, down 1.37% [1] Sector Performance - The Hainan Free Trade Zone showed strong performance, with stocks like Intercontinental Oil and Haima Automobile hitting the daily limit - The coal sector was active, with Antai Group also hitting the daily limit - The gaming sector saw significant activity, with 37 Interactive Entertainment hitting the daily limit - Conversely, the battery sector experienced weakness, with Haike New Energy dropping over 15% - The gold and non-ferrous metal sectors faced fluctuations, with Chao Hong Ji hitting the daily limit down - The semiconductor sector saw widespread declines, with Juguang Technology leading the drop at over 7% [1] Overall Market Sentiment - Overall, there were more gainers than losers, with over 2600 stocks rising [1]

Group 1 - The core viewpoint emphasizes the importance of implementing the guiding principles and main goals set forth by the 20th Central Committee of the Communist Party of China for the 14th Five-Year Plan period, aiming to advance Chinese-style modernization [1][2] - The focus on high-quality development is highlighted as the primary goal for the economic and social development during the 14th Five-Year Plan, with an emphasis on integrating technological and industrial innovation [2] - The commitment to enhancing people's livelihoods is underscored, with policies aimed at addressing urgent issues such as employment, education, healthcare, and housing [2][3] Group 2 - The necessity of maintaining a safe and stable environment for high-quality development is stressed, with a focus on political, ecological, and production safety [2] - Strengthening the Party's leadership is identified as a fundamental guarantee for advancing Chinese-style modernization, with a commitment to strict governance and enhancing the cadre team [3] - The call for practical action and dedication to implementing the spirit of the 20th Central Committee is made, emphasizing the need for tangible results in modernization efforts [3]