我對老鋪黃金這份 Q2 財報持看多觀點。首先，公司上半年業績超強增長，淨利潤同比預計增長約279%–288%，單店銷售能力突出，北京SKP店效高達7.4億元，新店快速進入營收週期，顯示門店擴張已經開始產生實質效益。其次，海外市場拓展順利，新加坡首店訂單爆滿、轉化率高達95%，說明文化出海策略初見成效，有望帶動後續東南亞及香港核心門店業績增長。最後，產品結構升級帶動毛利率維持在40%以上，高溢價“非遺+文化”產品熱度持續，爲盈利能力提供支撐。
綜合來看，財報落地後很可能成爲進一步上行的催化劑，而非利好兌現的分水嶺。淨利潤超預期、門店擴張與海外拓展順利，以及毛利率高位穩健，均支持股價繼續衝擊高位。短期來看，金價波動若穩定，也不會對公司業績形成明顯壓力。
因此，我判斷2025年8月21日收盤，老鋪黃金股價有望上漲，大概去到820左右，財報將刺激投資者情緒和市場交易活躍度，爲股價提供正面推動。
@小虎活動 @愛發紅包的虎妞
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