周大福(1929.HK):产品结构优化 同店逐季改善

中邮证券
Jun 22, 2025

事件公司发布25 年年报,25 财年公司实现营收896.56 亿港元,同比-17.5%,归母净利润59.16 亿港元,同比-8.98%。25 财年起公司将黄金借贷由销售成本划为其他收益及亏损,不考虑黄金借贷因素,公司经营利润147.46 亿港元,同比+9.8%。公司发布25 年4-5 月未经审计经营数据,零售值同比-1.7%,中国内地-2.9%,港澳及其他市场+6.3%,其中中国内地黄金首饰及产品...

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