Market Performance - The publishing sector increased by 1.52% on August 18, with Rongxin Culture leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Individual Stock Performance - Rongxin Culture (301231) closed at 27.20, up 8.58% with a trading volume of 83,200 shares and a transaction value of 223 million yuan [1] - City Media (600229) closed at 7.41, up 7.24% with a trading volume of 531,800 shares and a transaction value of 396 million yuan [1] - Chinese Online (300364) closed at 27.25, up 5.95% with a trading volume of 983,900 shares and a transaction value of 2.666 billion yuan [1] - Other notable performers include Guomai Culture (301052) up 4.95% and Tianzhou Culture (300148) up 3.73% [1] Capital Flow Analysis - The publishing sector saw a net inflow of 235 million yuan from institutional investors, while retail investors experienced a net inflow of 25.7934 million yuan [2] - The sector faced a net outflow of 260 million yuan from speculative funds [2] Detailed Capital Flow for Selected Stocks - Chinese Online (300364) had a net inflow of 16.9 million yuan from institutional investors, but a net outflow of 17.5 million yuan from speculative funds [3] - City Media (600229) saw a net inflow of 74.2235 million yuan from institutional investors, with a net outflow of 42.9649 million yuan from speculative funds [3] - Guomai Culture (301052) had a net inflow of 19.4754 million yuan from institutional investors, but a net outflow of 18.6916 million yuan from speculative funds [3]

Market Overview - The Shanghai Composite Index closed at 3740.50 points, above the annual line, with an increase of 1.18% [1] - The total trading volume of A-shares reached 1,746.728 billion yuan [1] Stocks Breaking Annual Line - A total of 86 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] - The stocks with the highest deviation rates include: - Huazhi Shumedia (19.19%) - Mango Super Media (11.03%) - Urban Media (9.22%) [1] Detailed Stock Performance - The following stocks have notable performance metrics: - Huazhi Shumedia: Today's increase of 20.02%, turnover rate of 8.50%, latest price at 11.57 yuan [1] - Mango Super Media: Today's increase of 19.99%, turnover rate of 11.53%, latest price at 27.13 yuan [1] - Urban Media: Today's increase of 9.99%, turnover rate of 6.20%, latest price at 7.60 yuan [1] - Other stocks with smaller deviation rates that just crossed the annual line include: - Renfu Pharmaceutical - China Railway Construction - Ningbo Fuda [1] Additional Stock Data - Other stocks with lower deviation rates include: - Longqi Technology (5.67%) - Great Wall Motors (5.55%) - Shenglong Co. (4.61%) [1] - The table provides a comprehensive view of various stocks, their performance, turnover rates, annual line prices, and latest prices [2]

Summary of City Media Conference Call Company Overview - **Company**: City Media - **Industry**: Education and Publishing Key Points and Arguments Financial Performance - City Media reported a net profit attributable to shareholders of between 38 million to 46 million in the first half of 2025, indicating a significant year-on-year decline due to several factors [4] - The decline was attributed to tightened regulations affecting supplementary educational materials, a loss of approximately 35 million from the West Coast Cultural Building's suspension last year, and a decrease in the fair value of financial assets following the acquisition of Himalaya by Tencent Music [4] Market Dynamics and Strategic Response - The tightening of regulations in the supplementary education market has shifted the subscription model from a unified school-based approach to a more market-oriented strategy [5] - City Media is enhancing its offline marketing system and developing the Tsinghua Assistance Service Platform to increase market share and adapt to the new competitive landscape [5] - The company aims to optimize internal efficiency through digital content production and operational mechanisms [5] Emerging Business Ventures - City Media is investing in new business areas, particularly in VR education, where it has made significant progress with multiple projects [6] - The company plans to expand its educational services by covering more schools and integrating various services such as AI assistance and research learning [7] Competitive Advantages - State-owned publishing companies like City Media have an inherent advantage due to their close ties with educational departments and schools, enhancing their credibility and trustworthiness in a regulated environment [8][9] Tsinghua Assistance Platform - The Tsinghua Assistance Platform has evolved to include research learning information, free educational resources, and AI assistance, aiming for high-frequency interaction with users [10] - The platform has already covered over 100 schools and is expected to expand further [10] Market Expansion - City Media's supplementary educational business covers 26 provinces, with high market share in products like the "Add Points Treasure" series and "Top Student Classroom Notes" [3][14] - In Shandong Province, the company holds over 90% market share in science textbooks and nearly 60% in mathematics textbooks [13] Product Development and Innovation - The company is launching new titles in children's literature and thematic publishing, aiming to create a billion-yuan product group and several ten-million-yuan product lines in 2025 [15] - City Media has seen rapid growth in its "two-dimensional" product line, collaborating with well-known IPs and gaming companies [16] AI and VR Integration - City Media has developed an AI reading platform and an AI essay grading system, with over 100,000 users benefiting from these services [19] - The company is also exploring VR experiences, with plans to establish 20 to 30 VR experience locations nationwide by the end of the year [21] Investment Strategy - City Media is actively seeking investment opportunities in cultural technology and digital culture, with a focus on high-quality targets [23][24] Shareholder Returns - The company has consistently paid cash dividends, totaling over 1.1 billion since its listing, and aims to maintain a stable dividend policy despite fluctuations in earnings [25] Inventory Management - The decline in inventory turnover is attributed to decreased consumer purchasing and increased inventory for new educational products [26] Long-term Strategy - City Media is adapting to new policy environments while expanding its general book sector and exploring new business areas like AI and VR education [27] Additional Important Insights - The company is learning from private sector strategies while leveraging its state-owned advantages to navigate regulatory challenges [9] - The focus on integrating various educational services aims to enhance user engagement and drive growth in a competitive market [10][19]

Group 1 - The announcement states that Liu Wenguang, the vice chairman of Qingdao Urban Media Co., Ltd., has submitted his resignation due to a job transfer [1][2]. - Liu Wenguang's resignation will not affect the minimum number of board members required by law, ensuring the normal operation of the board [2]. - The company expresses gratitude for Liu Wenguang's contributions during his tenure and confirms that he did not hold any shares in the company [2]. Group 2 - The company will complete the election of a new board member in accordance with its articles of association [2]. - Liu Wenguang's resignation is effective immediately upon delivery to the board [2]. - The board acknowledges Liu Wenguang's diligence and commitment during his time as vice chairman [2].

一、离任的基本情况 青岛城市传媒股份有限公司（以下简称"公司"）董事会近 日收到公司副董事长刘文光先生的书面辞职报告，具体情况如下： | 姓名 | 离任职务 | 离任时间 | 原定任期 | 离任原因 | 是否继续在上 市公司及其控 | 具体职务 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 到期日 | | 股子公司任职 | （如适用） | 毕的公开 承诺 | | | 副董事长 | | | | | | | | | 董事 | | | | | | | | 刘文光 | 董事会审计 | 2025 年 7 | 2025 年 9 | 工作调动 | 否 | 不适用 | 否 | | | 委员会委员 | 月 16 日 | 月 15 日 | | | | | | | 董事会战略 | | | | | | | | | 委员会委员 | | | | | | | 股票代码：600229 股票简称：城市传媒 编号：临 2025-018 青岛城市传媒股份有限公司 关于副董事长离任的公告 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 ...

Group 1 - The company expects to achieve a net profit attributable to shareholders of the parent company in the range of 38 million to 46 million yuan for the first half of 2025, representing a decrease of 11.1 million to 11.9 million yuan compared to the same period last year, which corresponds to a year-on-year decline of 70.71% to 75.80% [1][2] - The expected net profit after deducting non-recurring gains and losses is projected to be between 53.12 million and 61.12 million yuan, reflecting a year-on-year decrease of 51.94% to 58.23% [2] - The previous year's net profit attributable to shareholders was 157.04 million yuan, with a total profit of 224.80 million yuan [2] Group 2 - The main reasons for the profit reduction include a significant decline in sales of educational auxiliary books due to changes in ordering methods and substantial losses recognized from fluctuations in the fair value of financial assets [2] - The previous year included a large compensation for production stoppage losses, which contributed to the higher profit figures [2] - The profit forecast has not been audited by registered accountants, and the company has not identified any major uncertainties affecting the accuracy of the forecast [2][3]

Qingdao City Media Co., Ltd. 2025 Semi-Annual Performance Forecast [Current Period Performance Forecast](index=1&type=section&id=Current%20Period%20Performance%20Forecast) The company anticipates a significant decline in net profit attributable to shareholders for the first half of 2025, with a projected decrease of 70.71% to 75.80% year-on-year | Indicator | 2025 Semi-Annual Forecast | 2024 Semi-Annual | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | 38.00 million - 46.00 million yuan | 157.0371 million yuan | ↓ 70.71% - 75.80% | | **Net Profit Attributable to Shareholders (Excluding Non-Recurring Items)** | 53.1153 million - 61.1153 million yuan | 127.1544 million yuan | ↓ 51.94% - 58.23% | - This performance forecast represents a preliminary estimate by the finance department and has not been audited by a certified public accountant[4](index=4&type=chunk) [Prior Period Operating Performance and Financial Status](index=2&type=section&id=Prior%20Period%20Operating%20Performance%20and%20Financial%20Status) The report reviews the prior period's financial data, including net profit attributable to the parent company and earnings per share | Indicator (2024 Semi-Annual) | Amount (million yuan) | | :--- | :--- | | Total Profit | 224.7984 | | Net Profit Attributable to Owners of the Parent Company | 157.0371 | | Net Profit Excluding Non-Recurring Gains and Losses | 127.1544 | | Earnings Per Share | 0.2377 yuan | [Primary Reasons for Current Period Performance Decline](index=2&type=section&id=Primary%20Reasons%20for%20Current%20Period%20Performance%20Decline) The performance decline is primarily due to decreased sales of educational supplementary books and significant fair value losses on financial assets - Impact on Main Business: The company's sales of educational supplementary books significantly decreased year-on-year due to changes in subscription methods[6](index=6&type=chunk) - Impact of Non-Operating Gains and Losses: Substantial compensation income for production suspension losses was recognized in the prior period, while this period saw significant fair value change losses due to large fluctuations in financial asset fair value[6](index=6&type=chunk) [Risk Warning and Other Matters](index=2&type=section&id=Risk%20Warning%20and%20Other%20Matters) The company emphasizes that the forecast data is preliminary and unaudited, advising investors to exercise caution - The company has not identified any significant uncertainties affecting the accuracy of this performance forecast[7](index=7&type=chunk) - The forecast data is preliminary and unaudited; the specific accurate financial data will be based on the company's officially disclosed 2025 semi-annual report[7](index=7&type=chunk)[9](index=9&type=chunk)

Core Points - Qingdao Urban Media Co., Ltd. announced a cash dividend of 0.07 CNY per share (before tax) for its A shares, totaling approximately 46.25 million CNY based on a total share capital of 660,707,784 shares [1][2][5] - The dividend distribution plan was approved at the annual general meeting held on May 16, 2025 [1] - The key dates for the dividend distribution include the record date on July 14, 2025, the last trading day on July 15, 2025, and the ex-dividend date also on July 15, 2025 [1][4] Dividend Distribution Details - The cash dividends will be distributed to shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the market closes on the record date [1] - For individual shareholders and securities investment funds, the tax treatment will vary based on the holding period, with a maximum tax rate of 20% for shares held for one month or less [2] - Qualified Foreign Institutional Investors (QFIIs) will receive a net cash dividend of 0.063 CNY per share after a 10% withholding tax [3][5] Additional Information - The company will handle the cash dividend distribution for its major shareholders, including Qingdao Publishing Group Co., Ltd. and others [2] - Other institutional investors and corporate shareholders will be responsible for their own tax payments, receiving the full cash dividend of 0.07 CNY per share [5] - For inquiries regarding the dividend distribution, shareholders can contact the company's board office at the provided phone number [5]

青岛城市传媒股份有限公司 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： 每股分配比例 A 股每股现金红利0.07元（含税） 相关日期 证券代码：600229 证券简称：城市传媒 公告编号：2025-016 本次利润分配以方案实施前的公司总股本660,707,784股为基数，每股派发现金红利0.07 元（含税），共计派发现金红利46,249,544.88元。 1. 发放年度：2024年年度 2. 分派对象： 三、 相关日期 | 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 | 2025/7/14 | － | 2025/7/15 | 2025/7/15 | | 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 | 2025/7/14 | － | 2025/7/15 ...

Group 1 - The core point of the announcement is that the equity change is due to the cancellation of repurchased shares by Qingdao Urban Media Co., Ltd, resulting in an increase in the shareholding ratio of the controlling shareholder, Qingdao Publishing Group Co., Ltd, from 61.04% to 62.01% [1][2] - The equity change does not involve an increase or decrease in shareholding by shareholders and does not trigger a mandatory tender offer [1][2] - The equity change will not lead to a change in the controlling shareholder or actual controller of the company [1][2] Group 2 - The company completed the cancellation of 10,500,216 repurchased shares, reducing the total share capital from 671,208,000 shares to 660,707,784 shares [1] - The controlling shareholder and its concerted parties hold a total of 409,726,281 shares, and their shareholding quantity remains unchanged before and after the equity change [2] - The equity change does not require the disclosure of a report on equity changes, acquisition report summary, or tender offer report summary as per relevant regulations [2]