Within the Nan Hong Jewelry ecosystem, value creation proceeds through a defined upstream‑midstream‑downstream sequence. Upstream activities encompass raw material extraction and refinement, where gold, silver, and gemstones are supplied to component manufacturers. Midstream functions include design translation, component fabrication, and assembly by OEMs, supported by technology providers delivering CAD software, casting equipment, and surface‑treatment solutions. Downstream layers consist of distribution channels, retail outlets, and after‑sales services that deliver finished pieces to end users and enforce compliance with regulatory standards. Each segment captures revenue by adding transformation, design, or convenience value, while the overall ecosystem is bounded by material availability, certification requirements, and consumer purchasing preferences. This structure frames the subsequent analysis of participants and value flow. The delineation enables systematic value‑chain analysis.