The traditional peak season for gold sales is around the Spring Festival. The gold sales counters in major shopping malls welcomed a wave of customers. Buying gold jewelry as gifts for family, investing in gold bars, and young people accumulating "gold beans" have led to a high demand for gold consumption. The China Gold Association revealed that in 2023, the national gold consumption was 1089.69 tons, a year-on-year increase of 8.78%. The Global Gold Demand Trends Report released by the World Gold Council recently shows that the domestic gold jewelry consumption in China reached a historic high of 282 billion yuan in 2023, and predicts that gold consumption demand will remain strong in 2024. At the beginning of 2024, a "China Gold New Year Exclusive Exhibition and Sales Fair" was held in Shuibei, Shenzhen, the largest gold and jewelry trading hub in China. More than 1000 franchisee representatives, 8 China Gold Jewelry owned direct operated enterprises, and all 31 Chinese gold suppliers participated in the exhibition. The first Chinese gold exclusive product booth established achieved nearly 2 tons of new product sales, reflecting the "red start" of Chinese gold consumption in the new year. During the Spring Festival holiday, at the Beijing Caishikou Department Store, consumers flocked to buy gold, and customers lined up at the checkout. "My friend's child has just turned one month old, and this time I am planning to buy a small gold lock for her baby. I will also take a look at gold products such as small gold bars. If there is a suitable price, I will buy some for my own child to store," a young woman who is checking the gold jewelry at the counter told reporters. The salesperson explained that the Spring Festival holiday has always been the peak season for gold sales. Recently, the Chinese zodiac gold jewelry in the the Year of the Loong has become popular, and the rising trend of gold prices can not stop consumers' buying enthusiasm. "Gold prices are at a high point. Although investment may not be the best time, it is also good as a tool for saving and risk aversion.". The data released by the China Gold Association confirms the popularity of gold consumption: in 2023, the national gold consumption reached 1089.69 tons, a year-on-year increase of 8.78%. Among them, gold jewelry consumption reached 706.48 tons, a year-on-year increase of 7.97%; The consumption of gold bars and coins reached 299.6 tons, a year-on-year increase of 15.70%. From the supply side, the domestic raw material gold production in 2023 was 375.155 tons, a year-on-year increase of 0.84%. Among them, 297.258 tons of gold mineral gold and 77.897 tons of non-ferrous by-product gold were completed. China's imported raw material production reached 144.134 tons, a year-on-year increase of 14.59%. From the perspective of price trends, the international gold price will fluctuate at a high level in 2023. According to data from the China Gold Association, the closing price of Au9999 gold on the Shanghai Gold Exchange at the end of December 2023 was 479.59 yuan per gram, an increase of 16.69% from the opening price at the beginning of 2023. The weighted average price for the year was 449.05 yuan per gram, an increase of 14.97% from the previous year. From the performance of related enterprises, the unaudited main operating data released by Chow Tai Fook for the three months ended December 31, 2023 shows that the overall retail value of the company increased by 46.1% year-on-year during the period. Zhou Dasheng announced that as of December 31, 2023, the company has a total of 5106 stores, including 331 self operated stores and 4775 franchise stores; twenty