[Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company anticipates a net loss for the first half of 2025, with net profit attributable to shareholders ranging from -RMB 11.9494 million to -RMB 7.9662 million, and non-recurring adjusted net profit from -RMB 25.7888 million to -RMB 21.8057 million 2025 Semi-Annual Performance Forecast | Indicator | Estimated Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -11.9494 million to -7.9662 million | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-Recurring Items) | -25.7888 million to -21.8057 million | - This performance forecast is unaudited by a certified public accountant[5](index=5&type=chunk) [Prior Period Operating Performance and Financial Position](index=2&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E5%92%8C%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5) Compared to the prior year, the company anticipates a narrower loss for the first half of 2025, with last year's net profit attributable to parent company shareholders at -RMB 44.7742 million and non-recurring adjusted net profit at -RMB 25.0589 million Prior Period (H1 2024) Performance | Indicator | Amount (RMB) | | :--- | :--- | | Total Profit | -43.4582 million | | Net Profit Attributable to Parent Company Shareholders | -44.7742 million | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-Recurring Items) | -25.0589 million | | Earnings Per Share | -0.0322 | - Compared to the **RMB 44.7742 million loss** in the prior period, the estimated net profit attributable to parent company shareholders for the current period (ranging from **-RMB 11.9494 million to -RMB 7.9662 million**) shows a significant narrowing of losses[2](index=2&type=chunk)[4](index=4&type=chunk)[6](index=6&type=chunk) [Primary Reasons for Current Period Estimated Loss](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E4%BA%8F%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The company attributes the current period's estimated loss to the overall downturn in the cable television industry, leading to a decline in core business revenues from viewing maintenance fees and channel retransmission - The primary reason for the estimated loss is the downturn in the cable television industry, resulting in decreased revenue from cable TV viewing maintenance fees and channel retransmission[8](index=8&type=chunk) [Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company states that there are currently no significant uncertainties that could affect the accuracy of this performance forecast - The company confirms no significant uncertainties exist that would impact the accuracy of this performance forecast[9](index=9&type=chunk) [Other Explanatory Notes](index=2&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E%E4%BA%8B%E9%A1%B9) The company reminds investors that the disclosed financial data are preliminary, and the final accurate figures will be based on the officially released 2025 semi-annual report, advising caution regarding investment risks - The forecast data are preliminary, and the final accurate financial data will be subject to the company's officially disclosed 2025 semi-annual report[10](index=10&type=chunk)

Core Viewpoint - The company plans to swap its cable television network assets held by its wholly-owned subsidiary, Zhuozhou Gehua, for a 1.79% equity stake in Hebei Broadcasting, a company controlled by its parent, China Broadcasting Network [1][4][6] Summary by Sections Transaction Overview - The transaction involves Zhuozhou Gehua exchanging its cable network assets valued at 87.3958 million yuan for 4,173,942 shares in Hebei Broadcasting, representing 1.79% of the latter's post-increase registered capital [2][3][5] - The transaction does not involve cash payment and has been approved by the company's board without needing shareholder approval [2][4] Purpose and Impact of the Transaction - The transaction aims to comply with the "One Province, One Network" integration policy and enhance the company's asset operation efficiency by divesting low-efficiency assets [4][5] - Post-transaction, Zhuozhou Gehua will no longer hold cable television network assets, and the related income and costs will be excluded from the company's consolidated financial statements [5][16] Related Party Transaction Details - The transaction is classified as a related party transaction due to Hebei Broadcasting being a subsidiary of the company's controlling shareholder, China Broadcasting Network [6][7] - The company has not exceeded 5% of its latest audited net assets in related party transactions over the past 12 months [5][6] Asset Evaluation and Pricing - The cable network assets were appraised at 87.3958 million yuan, with an increase in value of 19.4235 million yuan, positively impacting the company's financial status [5][16] - The evaluation was conducted by Beijing Huaya Zhengxin Asset Appraisal Co., Ltd. and Beijing Zhongtianhua Asset Appraisal Co., Ltd., using asset-based and market methods [9][10][13] Future Strategic Direction - Following the transaction, the company will implement a "Service Navigation" strategy, focusing on consolidating its core cable television business and accelerating the development of government and enterprise services [5][16]

Mergers and Acquisitions - Zhongke Environmental plans to acquire 100% equity of Guigang Environmental and Pingnan Environmental for a total consideration of RMB 35,442 million [1] - Windfan Co. intends to acquire 100% equity of Yangzhou Xuying and its 8 solar power project companies for RMB 4,800 million [2] - Gehua Cable plans to exchange its cable network assets for a 1.79% equity stake in Hebei Broadcasting, constituting a related party transaction [3] Shareholding Changes - Fuke Environmental's shareholder plans to reduce its stake by up to 3%, equating to a maximum of 444.1 million shares [4] - Anlu Technology reports that the National Integrated Circuit Industry Investment Fund has reduced its stake by 1%, totaling 400.85 million shares [5] - Zhejiang Liming's major shareholder plans to reduce its stake by up to 2.93%, which is 430 million shares [6] Risk Matters - *ST Yuancheng is under investigation by the China Securities Regulatory Commission for suspected false financial disclosures in its annual report [7] - Baichuan Co.'s actual controller and chairman has been placed under investigation, but the company's operations remain normal [8] - Changcheng Military Industry warns of significant short-term stock price decline risks due to abnormal trading fluctuations [9]

证券代码：600037 证券简称：歌华有线 公告编号：临 2025-025 北京歌华有线电视网络股份有限公司 关于资产置换暨关联交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 交易简要内容：北京歌华有线电视网络股份有限公司（以下 简称"公司"）拟以全资子公司涿州歌华有线电视网络有限公司（以 下简称"涿州歌华"）持有的有线电视网络资产及业务（以下简称 "有线网络资产组"）与中国广电河北网络股份有限公司（以下简称 "河北广电"）部分股权进行置换。 本次交易对象河北广电为公司控股股东中国广电网络股份有 限公司控制的企业，本次交易构成关联交易，但不构成《上市公司重 大资产重组管理办法》规定的重大资产重组。 本次交易以相关资产和股权截至2024年12月31日（评估基准 日）的评估值为计算依据，双方一致同意涿州歌华以全部有线网络资产 组作价8,739.58万元，认购河北广电新增的417.3942万股股份，占增资 后河北广电注册资本的1.79%（暂定，最终股份数及比例以签订正式协 议约定的结果为准，下同），本次交 ...

Core Viewpoint - The company plans to exchange its cable television network assets and business held by its wholly-owned subsidiary, Zhuozhou Gehua, for shares in Hebei Broadcasting, which is controlled by its major shareholder, China Broadcasting Network Co., Ltd. This transaction is classified as a related party transaction but does not constitute a major asset restructuring [1] Group 1 - The transaction is based on the assessed value of the relevant assets and shares as of December 31, 2024, with Zhuozhou Gehua valuing its entire cable network assets at 87.3958 million yuan [1] - Zhuozhou Gehua will subscribe to an additional 4.1739 million shares of Hebei Broadcasting, representing 1.79% of the registered capital after the capital increase [1] - The purpose of this transaction is to implement the "one province, one network" integration requirement and enhance the operational efficiency of the company's assets [1] Group 2 - Following the completion of the transaction, Zhuozhou Gehua will no longer hold cable television network assets and business, and the related income and costs will not be included in the consolidated financial statements of the listed company [1]

Core Points - The article discusses the optimization and adjustment of cable TV channels by Gehua Cable, starting from June 28, as part of the "Ultra HD Development Year" initiative [1][3] - The National Radio and Television Administration plans to add 18 million ultra HD set-top boxes by 2025, aiming for a total of 300 million ultra HD terminals nationwide [3] - Gehua Cable has already phased out standard-definition set-top boxes and completed the shutdown of all analog channels by early May 2025 [3] Group 1 - Gehua Cable will optimize its entire network of TV channels, including the shutdown of standard-definition channels, to enhance user experience [1][3] - The optimization includes two main changes: merging ultra HD and HD channels under the same channel number and adjusting the channel number range from 601-699 to 01-99 [3] - Users will be automatically redirected from the old channel numbers to the new ones to minimize disruption [3] Group 2 - The ultra HD main channels for central broadcasting and nine provinces, including Beijing and Guangdong, will begin broadcasting by 2025 [6] - The first ultra HD channel, Beijing Satellite TV, launched on April 22, with Guangdong and Shenzhen's ultra HD channels set to launch on June 28 [6]

Core Viewpoint - The company, Gehua Cable, has successfully phased out standard-definition set-top boxes and completed the shutdown of all analog channels by early May 2025, with plans to optimize the entire network's TV channels starting June 28, 2025 [1][2]. Group 1: Company Actions - Gehua Cable will adjust its channel numbering system, merging ultra-high-definition (4K) and high-definition channels under the same channel number to streamline user experience [1]. - The company will shift the long-standing channel range of 601-699 to a new range of 01-99, ensuring that users can still access channels by automatically redirecting searches from the old range to the new one [1]. - The company is enhancing customer service by providing a 24/7 hotline and promoting services in communities to assist users with their viewing needs [2]. Group 2: Industry Developments - The National Radio and Television Administration has initiated a "Year of Ultra-High Definition Development," aiming to add 18 million ultra-high-definition set-top boxes by 2025, bringing the total to 300 million nationwide [2]. - Major cities like Beijing and Shenzhen are implementing the shutdown of standard-definition channel signals as part of this initiative [2]. - Following the launch of Beijing Satellite TV's ultra-high-definition channel on April 22, 2025, Guangdong and Shenzhen's 4K ultra-high-definition channels are set to launch on June 28, 2025 [1].

Core Points - Gehua Cable reported a closing price of 7.69 yuan as of June 13, 2025, down 8.99% from the previous week's price of 8.45 yuan [1] - The company's total market capitalization is currently 10.703 billion yuan, ranking 6th in the television broadcasting sector and 1469th among A-shares [1] Company Announcements - Gehua Cable announced a cash dividend of 0.027 yuan per share (before tax) for the 2024 annual equity distribution, with the record date set for June 19, 2025, and the distribution date on June 20, 2025 [1] - The total cash dividend to be distributed amounts to approximately 37.58 million yuan, based on a total share capital of 1,391,777,884 shares [1] - For individual shareholders holding shares for over one year, the dividend income is exempt from personal income tax, resulting in a net cash dividend of 0.027 yuan per share [1] - For Qualified Foreign Institutional Investors (QFII) and Hong Kong investors, a 10% withholding tax applies, leading to a net cash dividend of 0.0243 yuan per share [1]

Core Points - The company has approved a profit distribution plan during the annual shareholders' meeting held on May 21, 2025, for the fiscal year 2024 [1] - The total cash dividend to be distributed is 37,578,002.87 RMB, with a per-share cash dividend of 0.027 RMB (including tax) based on a total share capital of 1,391,777,884 shares [1] Distribution Plan - The cash dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the day before the equity registration date [1] - The distribution method involves the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, handling the payment through its fund clearing system [1] Taxation Details - For individual shareholders holding shares for more than one year, the dividend income is exempt from personal income tax, resulting in an actual cash dividend of 0.027 RMB per share [3] - For individual shareholders holding shares for one year or less, the company will not withhold personal income tax at the time of dividend distribution; tax will be calculated based on the holding period when shares are sold [3] - Qualified Foreign Institutional Investors (QFII) will have a 10% corporate income tax withheld, resulting in a net cash dividend of 0.0243 RMB per share [4] - Hong Kong investors will also have a 10% tax withheld, leading to a net cash dividend of 0.0243 RMB per share [5] Contact Information - The company’s office is located at 1 Gehua Building, Qinglong Hutong, Dongcheng District, Beijing, and inquiries can be directed to the Investment and Financing Department [6]

证券代码：600037 证券简称：歌华有线 公告编号：临 2025-024 北京歌华有线电视网络股份有限公司 2024年年度权益分派实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/19 | － | 2025/6/20 | 2025/6/20 | 差异化分红送转： 否 一、通过分配方案的股东大会届次和日期 三、相关日期 本次利润分配方案经公司2025 年 5 月 21 日的2024年年度股东大会审议通过。 二、分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本1,391,777,884股为基数，每股派发 现金红利0.027元（含税），共计派发现金红利37,578,002. ...