各个报道都在避重就轻,弄得跟超预期似的,实际低于预期 - Q1:收入168亿,净利润37亿;Q2仅收入30亿,净利润5.7亿 - Q2收入环比-82%,净利润环比‑84%;并且Q2净利润同比也下滑 。 市场之前的定价隐含假设:即便淡季,二季度依然可以维持较高的盈利基数;财报证实: 1. 公司业绩高度绑定春节Q1,非春节季度盈利会断崖回落; 2. 金价回调,高净值高端金饰消费快速观望; 实际 vs 市场一致预期 - 实际H1归母净利润:42.67亿人民币 - 机构市场一致预期:约49.9亿 - 缺口:实际比预期少7亿左右,低于预期约14% - 营收198.08亿,也低于此前机构乐观预期区间 。 3. 一季度提价前抢购透支后续需求; 4. 存货周转天数从216天抬升至271天,货物卖得变慢。

Laopu Gold's Attributable Profit Surges in H1; Revenue Climbs<blockquote>老浦黄金上半年应占利润激增;收入攀升</blockquote>

Laopu Gold reported 4.27 billion yuan in profit attributable to owners for the first half, compared with 2.27 billion yuan a year ago, a Tuesday bourse filing showed.EPS moved to 24.13 yuan from 13.34 yuan year over year.For the six months ended June 30, revenue was 19.8 billion yuan, versus 12.4 billion yuan previously, the gold jewelry manufacturer said.The company recommended an interim dividend of 18.02 yuan per share, payable Jan. 22, 2027, to shareholders of record as of Dec. 4, 2026, subject to shareholder approval.
Laopu Gold's Attributable Profit Surges in H1; Revenue Climbs<blockquote>老浦黄金上半年应占利润激增;收入攀升</blockquote>

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