China's Qianye Jewelry Slashes Prices at Multiple Stores as Gold Drops to 990 Yuan per Gram; Stock Down Nearly 93% This Year - finance.biggo.com

AI desk brief

Qianye Jewelry is running clearance sales at multiple stores, with some gold ornaments marked down to 990 yuan/gram, while its invoicing system has reportedly stopped working and some outlets are preparing to rebrand. The move follows the disappearance of the company’s controllers and warnings from sponsor Northeast Securities that the situation could lead to going-concern issues and possible delisting.

The stock has been hit hard, down nearly 93% year to date and about 42% this week despite an 8.7% rebound on Sept. 18. The story is mainly a stress signal for China’s gold jewelry retail channel rather than a direct read-through for spot gold, but it highlights deteriorating brand trust and potentially weaker franchise economics in the sector.