CHJ(SZ:002345)2024-08-31 07:34Group 1: Company Overview and Performance - The company reported a 31.37% year-on-year increase in traditional gold sales revenue in the first half of 2024 [2] - The fashion jewelry category, including both fixed-price gold products and K gold products, maintained a growth of 5.97% [3] Group 2: Product Insights - The growth rate of fixed-price gold products is close to that of traditional gold, with a high sales proportion being a significant competitive advantage for the brand [3] - The demand for K gold products has significantly declined, impacting overall sales [2] Group 3: Profitability and Margin Trends - The company's gross profit margin has been stable over the years, although it experienced a decline due to changes in sales channel structure and product mix [3] - The transition from a self-operated model to a franchise model has affected gross margins, as self-operated margins are higher than those of franchises [3] Group 4: Future Strategies - The company aims to enhance gross margins through continuous improvement in product quality and brand strength [3]