二、监事会会议审议情况 与会监事就议案进行了审议、表决，形成如下决议： 证券代码：600358 证券简称：ST 联合 公告编号：2025-临 093 国旅文化投资集团股份有限公司 监事会 2025 年第六次临时会议决议公告 本公司监事会及全体监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。 一、监事会召开情况 国旅文化投资集团股份有限公司（以下简称"公司"）监事会 2025 年第六 次临时会议通知于 2025 年 11 月 19 日以电话、邮件等方式发出，本次会议于 2025 年 11 月 24 日下午 14:30 在江西省南昌市东湖区福州路 169 号江旅产业大厦 A 座 19 层会议室以现场结合通讯表决的方式召开。本次会议应出席监事 3 名，实际 出席监事 3 名。本次会议的出席人数符合召开监事会会议的法定人数。本次会议 由监事会主席蔡丰先生主持，公司高管人员列席了本次会议。本次会议的通知、 召开、表决程序符合《中华人民共和国公司法》、《公司章程》等相关规定，会 议形成的决议合法、有效。 1 （一）审议通过《关于取消公司监事会的议案》。表决结 ...

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。 一、董事会召开情况 证券代码：600358 证券简称：ST 联合 公告编号：2025-临 092 国旅文化投资集团股份有限公司 董事会 2025 年第十一次临时会议决议公告 国旅文化投资集团股份有限公司（以下简称"公司"或"上市公司"）董事 会2025年第十一次临时会议通知于2025年11月19日以电话、邮件等方式发出，本 次会议于2025年11月24日下午14：30在江西省南昌市东湖区福州路169号江旅产 业大厦A座19层会议室以现场结合通讯表决的方式召开。本次会议应出席董事7 名，实际出席董事7名。本次会议的出席人数符合召开董事会会议的法定人数。 本次会议由董事长何新跃先生主持，公司的监事、高管人员列席了本次会议。本 次会议的通知、召开、表决程序符合《中华人民共和国公司法》（以下简称《公 司法》）《公司章程》和《董事会议事规则》等相关规定，会议形成的决议合法、 有效。 二、董事会会议审议情况 与会董事就议案进行了审议、表决，形成如下决议： （一）以 7 票同意，0 票反对，0 ...

Market Overview - The advertising and marketing sector experienced a decline of 0.96% on November 7, with Fushi Holdings leading the drop [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Stock Performance - Notable stock performances included: - Zhejiang Wenhu Internet (600986) rose by 1.56% to close at 9.11, with a trading volume of 622,200 shares and a turnover of 563 million yuan [1] - Fushi Holdings (300071) fell by 5.33% to close at 5.51, with a trading volume of 1,439,300 shares and a turnover of 805 million yuan [2] - BlueFocus Communication Group (300058) decreased by 1.79% to close at 7.66, with a trading volume of 3,974,900 shares and a turnover of 3.065 billion yuan [2] Capital Flow - The advertising and marketing sector saw a net outflow of 579 million yuan from institutional investors, while retail investors contributed a net inflow of 498 million yuan [2] - The capital flow for specific stocks showed: - Easy Point World (301171) had a net inflow of 80.17 million yuan from institutional investors, but a net outflow of 77.59 million yuan from retail investors [3] - Zhejiang Wenhu Internet (600986) experienced a net inflow of 68.33 million yuan from institutional investors, with retail investors showing a net outflow of 50.85 million yuan [3]

Core Insights - The advertising and marketing sector saw a slight increase of 0.22% on November 4, with Fushi Holdings leading the gains [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Stock Performance - Fushi Holdings (300071) closed at 6.15, up 6.77% with a trading volume of 2.9468 million shares and a transaction value of 1.694 billion [1] - BlueFocus Communication Group (300058) closed at 7.86, up 3.69% with a trading volume of 6.4236 million shares and a transaction value of 4.887 billion [1] - Other notable stocks include Xinhua Du (002264) at 7.11 (+1.28%), Yilun Media (603598) at 17.26 (+1.05%), and Simay Media (002712) at 5.79 (+1.05%) [1] Capital Flow - The advertising and marketing sector experienced a net outflow of 324 million from institutional investors, while retail investors saw a net inflow of 399 million [2] - The capital flow data indicates that BlueFocus Communication Group had a net inflow of 264 million from institutional investors, while it faced a net outflow of 105 million from speculative funds [3] - Other companies like Fushi Holdings and Yilun Media also showed varied capital flows, with Fushi Holdings experiencing a net outflow of 613.67 million from institutional investors [3]

Core Viewpoint - ST United (600358) has shown a slight increase in stock price and a notable change in shareholder structure, while its financial performance indicates a mixed outlook with rising revenues but declining net profits [1]. Shareholder Changes - As of September 30, 2025, the number of shareholders for ST United is 26,400, a decrease of 1,897 or 6.71% from June 30, 2025 [1]. - The average number of shares held per shareholder increased from 17,800 to 19,100, with an average holding value of 103,500 yuan [1]. Financial Performance Highlights - For the first three quarters of 2025, ST United reported a total revenue of 322.41 million yuan, an increase of 11.64% year-on-year [1]. - The net profit attributable to shareholders was a loss of 31.76 million yuan, down 15.08% year-on-year [1]. - In Q3 2025 alone, the revenue was 128 million yuan, reflecting a significant year-on-year increase of 44.68% [1]. - The net profit for Q3 was a loss of 15.64 million yuan, a decline of 50.63% compared to the same quarter last year [1]. - The company reported a debt ratio of 84.36%, with investment income of 90,700 yuan and financial expenses of 1.099 billion yuan, resulting in a gross margin of 6.63% [1]. Company Announcements - The board of directors of Guolv Cultural Investment Group approved the Q3 report, confirming a revenue of 322.41 million yuan and a net profit loss of 31.76 million yuan [2]. - The board also approved the use of self-owned funds for foreign exchange hedging, with a maximum transaction amount of 15 million yuan, valid for 12 months from the date of approval [2]. - The supervisory board confirmed the legality and compliance of the Q3 report's preparation and review process [2].

Core Insights - The event "2025 National Cultural and Tourism Listed Companies Shanghai Tour" highlighted the growing importance of the cultural and tourism industry in boosting consumer spending, with nearly 100 listed companies participating in the event [5][6] - Shanghai is positioning itself as a core area for future cultural and tourism industry development, with a focus on investment and consumption [5][6][13] Industry Development - Shanghai has developed a unique urban tourism resource over 40 years, characterized by urban, comprehensive, and international tourism [6] - The cultural and tourism sector in Xu Hui District is projected to exceed 150 billion yuan in revenue by 2024, accounting for over 20% of the city's total [6] - The Shanghai International Tourism Resort has established a "full-domain tourism" development model centered around Disneyland, enhancing the tourism industry in Shanghai and Pudong New Area [6] New Business Models - Companies are integrating "IP + AI + consumption" to drive growth in the cultural and tourism sector, with significant projects planned in Shanghai [7] - The Xu Hui District has introduced policies supporting cultural and creative industries, offering up to 30 million yuan in funding [8] - The industry is shifting from traditional tourism to a focus on lifestyle and emotional value, with an emphasis on technology integration [9] Investment Opportunities - The event underscored the importance of urban renewal projects in the cultural and tourism sector, with Shanghai's mature market and innovative environment facilitating new project development [11] - Companies are eager to collaborate on projects in micro-vacation, cultural creative districts, and digital tourism [11][12] - The discussion around investing in Shanghai's cultural and tourism sector has gained traction, with many companies expressing interest in future investments [13]

国旅文化投资集团股份有限公司 董事会 2025 年第十次临时会议决议公告 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。 一、董事会召开情况 国旅文化投资集团股份有限公司（以下简称"公司"或"上市公司"）董事 会2025年第十次临时会议通知于2025年10月24日以电话、邮件等方式发出，本次 会议于2025年10月29日下午15:00在江西省南昌市东湖区福州路169号江旅产业 大厦A座19层会议室以现场结合通讯表决的方式召开。本次会议应出席董事7名， 实际出席董事7名。本次会议的出席人数符合召开董事会会议的法定人数。本次 会议由董事长何新跃先生主持，公司的监事、高管人员列席了本次会议。本次会 议的通知、召开、表决程序符合《中华人民共和国公司法》《公司章程》和《董 事会议事规则》等相关规定，会议形成的决议合法、有效。 二、董事会会议审议情况 证券代码：600358 证券简称：ST 联合 公告编号：2025-临 088 1 划制定经营管理目标。本议案已经公司董事会预算与审计委员会 2025 年第九次 会议审议通过。 （三）以 7 ...

Group 1 - ST United reported a revenue of approximately 322 million yuan for the first three quarters of 2025, representing a year-on-year increase of 11.64% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 31.76 million yuan [1] - The basic earnings per share showed a loss of 0.0629 yuan [1] Group 2 - As of the report, ST United's market capitalization stood at 2.9 billion yuan [2]

国旅文化投资集团股份有限公司 外汇套期保值业务管理办法 第一章 总 则 第一条 为规范国旅文化投资集团股份有限公司（以下简称公司）外汇套期 保值业务，加强对外汇套期保值业务的管理，防范和控制外币汇率风险，健全 和完善公司外汇套期保值业务管理机制，根据《中华人民共和国公司法》《中 华人民共和国证券法》《中华人民共和国外汇管理条例》《上海证券交易所股票 上市规则》《上市公司信息披露管理办法》《上海证券交易所上市公司自律监管 指引第5号——交易与关联交易》《企业会计准则第24号——套期会计》等法律 法规及规范性文件和《国旅文化投资集团股份有限公司章程》等有关规定，结 合公司具体实际，特制定本办法。 第六条 公司进行外汇套期保值必须基于公司外汇收支的谨慎预测，外汇套 期保值合约的外币金额不得超过外汇收支的预测金额，外汇套期保值业务的金 额、交割期间需与公司预测的外汇收支款项相匹配。 第七条 公司及子公司必须以其自身名义设立外汇套期保值账户，不得使用 他人账户进行外汇套期保值。 第八条 公司须具有与外汇套期保值相匹配的自有资金，不得使用募集资金 直接或间接进行外汇套期保值，且严格按照审议批准的外汇套期保值额度，控 制资 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥128,070,909.72, an increase of 44.68% compared to the same period last year[4] - The total profit for the quarter was -¥16,222,984.50, reflecting a decrease of 52.24% year-on-year[9] - The net profit attributable to shareholders was -¥15,635,515.80, a decline of 50.63% compared to the previous year[9] - Basic earnings per share for the quarter were -¥0.031, down 50.49% from the same period last year[5] - The net loss for the first three quarters of 2025 was CNY 32,079,595.49, worsening from a net loss of CNY 28,408,106.70 in the same period of 2024[25] - The total comprehensive income attributable to the parent company was -38,414,804.78 CNY, compared to -40,981,431.23 CNY in the previous year, indicating a slight improvement[26] - The company’s basic and diluted earnings per share were both -0.0629 CNY, compared to -0.0547 CNY in the previous year[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥514,119,492.71, representing a 20.93% increase from the end of the previous year[5] - The company's total assets as of the reporting date amounted to CNY 514,119,492.71, up from CNY 425,130,680.55 in the previous year[21] - Total liabilities increased to CNY 433,703,215.73 from CNY 332,980,043.52, reflecting a rise of approximately 30.2%[21] - Current assets totaled CNY 383,609,692.93, compared to CNY 284,607,893.56 in the previous year, marking a growth of about 34.7%[20] - The total equity attributable to shareholders decreased to CNY 73,278,731.68 from CNY 84,692,180.24, a decline of about 13.3%[21] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥82,608,078.80, indicating a significant cash outflow[4] - The net cash flow from operating activities for the first three quarters of 2025 was -82,608,078.80 CNY, a significant decline from -5,446,601.00 CNY in the same period of 2024[28] - Cash inflow from operating activities totaled 405,168,386.75 CNY, down from 520,201,051.84 CNY year-over-year[29] - The company reported a net cash flow from investing activities of 50,214,687.96 CNY, a recovery from a negative cash flow of -2,287,205.85 CNY in the previous year[30] - Cash flow from financing activities generated a net inflow of 63,021,148.74 CNY, compared to a net outflow of -15,244,804.43 CNY in the same period last year[30] - The cash outflow for operating activities was 487,776,465.55 CNY, compared to 525,647,652.84 CNY in the same period last year[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 26,395[11] - Jiangxi Tourism Group holds 98,803,000 shares, accounting for 19.57% of total shares[11] Restructuring and Strategic Initiatives - The company plans to initiate a major asset restructuring involving Runtian Industrial, which specializes in the production and sales of packaged drinking water[13] - The restructuring aims to enhance asset quality, profitability, and sustainable operational capacity[15] - The company incurred additional service fees related to a major asset restructuring project, impacting short-term profit metrics[9] - The company completed the transfer of debt rights valued at RMB 37.24 million to Jiangxi Tourism Group[16] - The company also sold 100% equity of Jiangxi Guogui Cultural Tourism Development Co., Ltd. for RMB 13.60 million[17] Operational Efficiency - The company attributed the revenue growth to the performance of its subsidiaries, particularly in new business lines[9] - The net profit margin has been negatively affected by ongoing operational losses, despite efforts to improve efficiency and reduce costs[9] - The weighted average return on net assets was -24.80%, a decrease of 27.96 percentage points year-on-year[5] - The company incurred financial expenses of CNY 10,990,481.23, up from CNY 9,923,140.90 in the previous year, indicating an increase of approximately 10.8%[25] - Other comprehensive income after tax for the first three quarters of 2025 was a loss of CNY 6,656,120.78, compared to a loss of CNY 13,384,853.56 in the same period of 2024, showing an improvement[25] - The total operating costs for the first three quarters of 2025 were CNY 350,765,630.23, compared to CNY 314,646,173.19 in 2024, indicating an increase of about 11.5%[24]