Core Points - The company is preparing for the election of the new board of directors and supervisory board, which will be postponed to ensure continuity and stability in operations [1][2] - The current terms of the 10th board of directors and supervisory board will be extended until the election process is completed [1] - The company assures that the postponement will not affect normal operations and that current directors and supervisors will continue to fulfill their duties [2] Summary by Sections - **Board and Supervisory Board Election** The 10th board of directors and supervisory board of the company will complete their terms on September 15, 2025, and the election process is being actively prepared [1] - **Regulatory Compliance** The company is adhering to the requirements of the Company Law and relevant regulations from the China Securities Regulatory Commission regarding the election and management system revisions [1] - **Operational Continuity** The postponement of the election will not impact the company's normal operations, and current management will continue to perform their responsibilities until the new elections are held [2]

股票代码：600229 股票简称：城市传媒 编号：临 2025-021 特此公告。 青岛城市传媒股份有限公司 关于董事会、监事会延期换届的提示性公告 青岛城市传媒股份有限公司董事会 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。 2025 年 9 月 16 日 青岛城市传媒股份有限公司（以下简称"公司"）第十届董 事会、第十届监事会于 2025 年 9 月 15 日任期届满。为贯彻落实 《公司法》及中国证券监督管理委员会《上市公司章程指引》《关 于新<公司法>配套制度规则实施相关过渡期安排》等法律法规、 规范性文件的要求，公司正在积极筹备换届选举与配套管理制度 修订及监事会改革等工作。为保证相关工作的连续性和稳定性， 公司董事会、监事会的换届选举工作将适当延期，公司董事、监 事、董事会各专门委员会委员及高级管理人员的任期相应顺延。 公司董事会、监事会延期换届不会影响公司正常运营。在换 届选举工作完成之前，公司董事、监事及高级管理人员将按照国 家法律法规及《公司章程》等相关规定继续履行职责和义务。公 司将尽快完成董事会换届选举、 ...

Core Viewpoint - The publishing sector experienced a decline of 1.2% on September 15, with major stocks like Guomai Culture leading the drop, while the Shanghai Composite Index fell by 0.26% and the Shenzhen Component Index rose by 0.63% [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3860.5, down 0.26% [1]. - The Shenzhen Component Index closed at 13005.77, up 0.63% [1]. - The publishing sector saw a net outflow of 462 million yuan from major funds, while retail investors contributed a net inflow of 407 million yuan [3]. Group 2: Individual Stock Performance - Tianzhou Culture (300148) closed at 5.03, with an increase of 1.21% and a trading volume of 513,100 shares [1]. - Rongxin Culture (301231) closed at 24.81, up 0.53% with a trading volume of 27,400 shares [1]. - Zhongwen Media (600373) remained unchanged at 10.22, with a trading volume of 156,000 shares [1]. - Other notable stocks include China Publishing (600373) at 7.12 (0.00%), New Classics (603096) at 18.15 (-0.27%), and Shiji Tianhong (300654) at 10.21 (-0.29%) [1].

Investment Rating - The report maintains an "Accumulate" rating for the company [2][5] Core Views - The company's performance has been under pressure, primarily due to changes in the subscription model for educational materials, leading to a significant decline in revenue [4] - The company is actively transforming its main business and promoting its educational segment, with a focus on innovative sales models and deepening IP resource utilization [4] - The company has launched various initiatives in the education sector, including VR projects and AI-integrated reading platforms, which have shown promising user engagement [4] Summary by Relevant Sections Financial Performance - In H1 2025, the company reported revenue of 1.106 billion yuan, a decrease of 21.4% year-on-year, with a net profit of 40 million yuan [4] - The forecast for 2025-2027 indicates revenues of 1.786 billion yuan, 1.662 billion yuan, and 1.687 billion yuan, reflecting a year-on-year growth rate of -26.59%, -6.93%, and +1.52% respectively [4][7] - The projected net profit for the same period is 87 million yuan, 98 million yuan, and 115 million yuan, with growth rates of +3.00%, +12.01%, and +17.15% respectively [4][7] Business Segments - The publishing segment generated 420 million yuan in revenue in H1 2025, focusing on popular IP products and collaborations with notable brands [4] - The educational segment is advancing with innovative sales strategies, including online live broadcasts and community marketing, to enhance customer engagement [4] Cost and Expenses - The company's expense ratios for sales, management, and R&D have slightly increased due to the significant drop in revenue, with sales expenses at 10.8% and management expenses at 7.7% in H1 2025 [4]

Group 1 - The company, Qingdao Urban Media Co., Ltd., has disclosed its 2025 semi-annual report on August 28, 2025, and plans to hold a performance briefing to enhance interaction with investors [2][3] - The performance briefing will take place on September 10, 2025, from 15:00 to 16:00, and will be conducted via the China Securities Network Roadshow Center [3][4] - Key personnel attending the briefing include the Chairman, Vice Chairman and General Manager, Independent Directors, and the Secretary of the Board [3] Group 2 - Investors can participate in the briefing online through the China Securities Network Roadshow Center [4] - The company encourages investors to submit questions in advance and provides contact details for inquiries [4]

Group 1 - The company, Urban Media, announced that its 2025 semi-annual performance briefing will be held on September 10, 2025 [2]

一、 业绩说明会类型 青岛城市传媒股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日披 露《城市传媒 2025 年半年度报告》。为便于广大投资者更加深入地了解公司发展 战略、经营状况，进一步加强与投资者的互动交流，公司计划举办 2025 年半年度 业绩说明会，就投资者关心的问题进行交流。 重要内容提示： ●会议召开时间：2025 年 9 月 10 日（星期三）15:00-16:00 ●会议召开平台：中国证券网路演中心（www.cs.com.cn/roadshow） ●会议召开方式：网络互动方式 股票代码：600229 股票简称：城市传媒 编号：临 2025-020 青岛城市传媒股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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。 二、 业绩说明会召开时间、方式 1.召开时间：2025 年 9 月 10 日（星期三）15:00-16:00 2.召开平台：中国证券网路演中心（www.cs.com.cn/roadshow） 3.召开方式：网络互动方式 三、公司出 ...

Core Viewpoint - The publishing industry is experiencing a decline in revenue but an increase in net profit, indicating a shift in operational dynamics and reliance on specific segments like educational materials [1][9]. Revenue Summary - Total revenue for publishing companies in the first half of 2025 was 65.192 billion yuan, a decrease of 7.9% year-on-year [1]. - Five companies exceeded 5 billion yuan in revenue, with Phoenix Media leading at 7.113 billion yuan, followed by Central South Media at 6.335 billion yuan [2]. - Among the 10 companies with revenue between 1 billion and 5 billion yuan, only three reported year-on-year growth, indicating a broader decline in revenue across the sector [2]. Profit Summary - Net profit for the publishing sector reached 8.224 billion yuan, an increase of 9.29% year-on-year, with 10 companies reporting net profits exceeding 1 billion yuan [1][3]. - Central South Media entered the "10 billion club" with a net profit of 1.017 billion yuan, while Phoenix Media maintained its lead with 1.586 billion yuan [2][3]. - The number of companies with net profit growth has increased, with notable growth rates such as Central South Media's 50.39% increase [2][3]. Non-Operating Profit Summary - Excluding non-recurring items, Phoenix Media led with a non-operating profit of 1.514 billion yuan, followed by Central South Media at 0.995 billion yuan [3][4]. - Among the 13 companies reporting non-operating profits, only three experienced a decline, while the rest saw growth of over 10% [3][4]. Company Type Analysis - Comprehensive publishing companies, which include publishing and distribution, showed a revenue decline with only one company reporting growth, while 10 maintained profit growth [5]. - Pure publishing companies, such as Times Publishing and China Publishing, reported revenue and profit growth, particularly benefiting from educational materials [6]. - The digital publishing sector, represented by companies like iReader Technology and Chinese Online, faced challenges with significant profit declines despite revenue growth [10]. Tax Policy Impact - The continuation of tax exemption policies for certain publishing companies has significantly contributed to profit growth, with companies like Central South Media and Zhejiang Publishing reporting substantial increases in net profit due to these policies [7][8]. Market Trends and Challenges - The publishing industry is facing challenges from changing consumer demands, particularly in the educational materials sector, which has been a traditional revenue driver [12][14]. - Companies are increasingly focusing on digital transformation and innovative business models to adapt to market changes, with many investing in new content and technology [15][18]. Financial Management - Many publishing companies are utilizing idle funds for financial management, indicating a cautious approach to capital allocation amid operational challenges [17][18]. - The total cash and cash equivalents held by the 28 publishing companies reached 58.1 billion yuan, highlighting the need for effective capital utilization to drive innovation [18].

Group 1 - The company's total revenue for the first half of 2025 is 1.106 billion, a year-on-year decrease of 21.4% [1] - The net profit attributable to shareholders is 40.28 million, down 74.35% year-on-year [1] - In Q2, total revenue is 503 million, a decline of 32.29% year-on-year, with a net profit of -22.97 million, a decrease of 133.01% [1] Group 2 - The company's accounts receivable is significantly high, with accounts receivable to net profit ratio reaching 660.56% [1][2] - The gross margin is 23.85%, down 21.21% year-on-year, and the net margin is 3.63%, down 67.37% [1] - Total selling, administrative, and financial expenses amount to 201 million, accounting for 18.19% of revenue, an increase of 13.99% year-on-year [1] Group 3 - The company's return on invested capital (ROIC) for the previous year is 2.29%, indicating weak capital returns [2] - The historical median ROIC over the past 10 years is 12.26%, with two years of losses since the company went public [2] - The company's business model relies heavily on marketing, necessitating a deeper analysis of the underlying drivers [2]

Company Performance - City Media reported a revenue of approximately 1.106 billion yuan for the first half of 2025, representing a year-on-year decrease of 21.4% [1] - The net profit attributable to shareholders of the listed company was approximately 40.28 million yuan, a year-on-year decrease of 74.35% [1] - The basic earnings per share were 0.061 yuan, down 74.34% year-on-year [1]