中国黄金：销售结构持续分化静待终端企稳回温

国泰君安11-01

本报告导读：2024Q3 业绩略低于预期，投资金需求释放驱动收入增长，销售结构变化利润端有一定扰动；预计 2024年门店数量维持稳定，静待消费信心回温。投资要点：业绩略低于预期，维持“增持”评级。考虑到金价持续新高下黄金珠宝终端动销有所承压，加盟商拿货意愿减弱，叠加产品销售结构变化或对利润率有一定拖累，下调2024-2026 年公司EPS 分别为0.63/0.71/0.80 元（原值0.67/...

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中国黄金：销售结构持续分化 静待终端企稳回温

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中国黄金：销售结构持续分化静待终端企稳回温