2025年3月，老铺黄金因独特商业模式备受关注。其2024年营收85亿，净利润14.73亿，毛利率41.2%，但自由现金流连续两年为负，经营净现金流亦为负。高额存货占营收48%，引发对其盈利质量和可持续性的质疑。对比周大福与国际奢侈品品牌，老铺黄金毛销差仅为26.62%，远低于泡泡玛特等企业，奢侈品属性存疑。尽管业绩增长迅猛，其财务状况或难支撑“中国爱马仕”愿景。免责声明：本文内容由开放的智能模型...
Source Link2025年3月，老铺黄金因独特商业模式备受关注。其2024年营收85亿，净利润14.73亿，毛利率41.2%，但自由现金流连续两年为负，经营净现金流亦为负。高额存货占营收48%，引发对其盈利质量和可持续性的质疑。对比周大福与国际奢侈品品牌，老铺黄金毛销差仅为26.62%，远低于泡泡玛特等企业，奢侈品属性存疑。尽管业绩增长迅猛，其财务状况或难支撑“中国爱马仕”愿景。免责声明：本文内容由开放的智能模型...
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