证券代码：600373 证券简称：中文传媒 公告编号：临 2025-075 中文天地出版传媒集团股份有限公司 关于为下属子公司北京朗知网络传媒科技股份有限 公司提供担保的实施公告 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： ● 被担保人名称 中文天地出版传媒集团股份有限公司（以下简称公司）一级控股子公司：北 京朗知网络传媒科技股份有限公司（以下简称朗知传媒）。 ● 本次担保金额及已实际为其提供的担保余额 1.公司本次为朗知传媒提供的银行授信担保为 0.9660 亿元。本次担保后， 公司为朗知传媒提供的担保合同累计余额为 2.29 亿元，其中实际发生的对外担 保累计余额为 1.56 亿元。 2.本次担保后，公司为所属子公司银行授信提供担保合同累计余额为 13.42 亿元（含 2024 年度担保余额），其中实际发生的对外担保累计余额为 6.69 亿元。 子公司为母公司银行授信提供担保合同累计余额为 0 亿元（含 2024 年度担保余 额），其中实际发生的担保累计余额为 0 亿元（不含本次担保）。 ● 本次担保不 ...

Group 1 - The core opportunity in the internet and media sectors for 2025 is centered around AI revaluation, particularly in cloud computing, and the globalization and youth-oriented trends in self-consumption, such as trendy toys, music, and concerts [3][4] - AI cloud capital expenditure (capex) is expected to expand in its second year, with a focus on return on investment (ROI) from AI investments, making capex/operating cash flow a key metric for investors [3][4] - Major companies to watch in the AI cloud space include Alibaba, Baidu, and Kingsoft Cloud, which are focusing on domestic production and infrastructure [3][12] Group 2 - The AI application landscape is shifting from conceptual discussions to a focus on commercial viability, with significant developments in AI advertising and video monetization expected in 2026 [3][4] - Tencent, Bilibili, Meitu, Kuaishou, and Focus Technology are highlighted as key players in the AI application ecosystem, with a particular emphasis on the monetization of chatbot applications and the evolution of AI video tools into community platforms [3][4] - The gaming sector is seeing structural opportunities driven by Generation Z and international expansion, with a focus on companies like Giant Network, Century Huatong, and Xindong Company [3][4] Group 3 - The self-consumption trend is expected to continue, with gaming, music, and trendy toys being key areas of growth, particularly as the market adjusts post-2025 [3][4] - The video sector is anticipated to reach a turning point, with policy stabilization and diverse monetization strategies being crucial for growth [3][4] - Companies such as Mango Super Media, Shanghai Film, and Reading Group are positioned to benefit from these trends [3][4] Group 4 - The report indicates a recovery in companies like Focus Media, Vision Source, and educational publishing firms, suggesting a positive outlook for these sectors [3][4] - The report emphasizes the importance of continuous performance and valuation adjustments in the context of evolving market conditions [3][4] Group 5 - The domestic cloud computing market is witnessing increased capital expenditure from major internet companies, with Alibaba and Tencent leading the charge [18][19] - The report highlights the importance of measuring the health of cloud investments through the capex/operating cash flow ratio, with Tencent's ratio being notably lower than its peers [19][29] - AI-driven cloud services are expected to maintain higher profit margins compared to traditional cloud offerings, with a focus on internal workload efficiencies [29][30] Group 6 - The report outlines the competitive landscape of AI applications, noting that Chinese companies are making significant strides in the global market, particularly in productivity tools and content generation [34][35] - The emergence of ChatGPT as a multi-functional platform is reshaping the AI application ecosystem, with significant implications for user engagement and commercial applications [35][39] - Advertising remains a critical area for AI commercialization, with companies like Meta, Tencent, and Bilibili leveraging AI to enhance ad performance and efficiency [43][49]

中文天地出版传媒集团股份有限公司 CHINESE UNIVERSE PUBLISHING AND MEDIA GROUPCO.,LTD. 2025 年第三次临时股东会会议资料 2025 年 12 月 4 日召开 二、董事会秘书宣读本次股东会须知。 三、审议以下议案 本次股东会审议议案及投票股东类型 中文传媒 2025 年第三次临时股东会会议资料 [中文传媒 2025 年第三次临时股东会会议文件之一] 中文天地出版传媒集团股份有限公司 2025 年第三次临时股东会议程 至 2025 年 12 月 4 日 通过交易系统投票平台的投票时间为股东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票平台的投票时间为股东会 召开当日的 9:15-15:00。 会议召集人：公司董事会 参加会议人员：符合条件的股东或其授权委托人、公司董事、高级管理人员 及见证律师 一、会议主持人宣布 2025 年第三次临时股东会开始，报告出席会议股东、持有 股份数及比例、参会人员。 | 序号 | 议案名称 | 投票股 东类型 | | --- | --- | --- | | | | A股 ...

来源：新浪证券-红岸工作室 11月26日，中文传媒盘中下跌2.01%，截至10:48，报10.73元/股，成交6575.87万元，换手率0.45%，总 市值146.73亿元。 资金流向方面，主力资金净流出499.98万元，特大单买入0.00元，占比0.00%，卖出143.52万元，占比 2.18%；大单买入911.57万元，占比13.86%，卖出1268.03万元，占比19.28%。 中文传媒今年以来股价跌11.69%，近5个交易日跌3.85%，近20日涨4.38%，近60日涨2.29%。 资料显示，中文天地出版传媒集团股份有限公司位于江西省南昌市红谷滩区丽景路95号出版中心，成立 日期1998年11月30日，上市日期2002年3月4日，公司主营业务涉及书报刊和音像电子出版物编辑出版、 印刷发行、物资供应等传统出版业务;国内外贸易和供应链业务、现代物流和物联网技术应用等产业链 延伸业务;新媒体、数字教育、互联网游戏、数字出版、艺术品经营、文化综合体和投融资等新业态业 务。主营业务收入构成为：出版业务37.34%，整合营销25.68%，发行业务24.41%，新业态16.27%，物 资贸易7.29%，其他3.83 ...

Core Insights - The visit by leaders from Henan Zhongyuan Media and Zhengzhou High-tech Investment to Beijing Lightyear Infinite (Turing Robot) focused on discussions regarding AI applications in new scenarios, particularly in AI + consumer hardware and AI + K12 education [1][2] Group 1: Company Overview - Zhongyuan Media, a key cultural enterprise directly under the Henan Provincial Government, is the largest comprehensive cultural media group in Henan and the only state-owned listed cultural enterprise [3] - The Yuwen Fund, associated with Zhongyuan Media, focuses on equity investments in the pan-cultural education and technology sectors, serving as a crucial capital tool for Zhongyuan Media's expansion into emerging industries [3] Group 2: Strategic Collaborations - Beijing Lightyear Infinite (Turing Robot) has previously established a strategic partnership with Chinese Media, a state-owned enterprise in Jiangxi, to advance projects in AI education, AI publishing, and AI cultural tourism [3] - The collaboration has laid a solid foundation for future partnerships, leveraging the experience gained from previous state-owned enterprise collaborations [3] Group 3: AI Application and Impact - Turing Robot's self-developed AI education application, "Turing Smart Learning," has been successfully implemented in several cities in Henan, receiving positive feedback [2][3] - Following the recent visit, Zhongyuan Media and Zhengzhou High-tech Investment will accelerate the implementation of AI consumer hardware and AI K12 education in Henan [2][3] Group 4: Turing Robot's Capabilities - Turing Robot, launched in 2014, is one of the earliest AI dialogue robot development platforms in China, holding nearly 500 invention patents in the AI technology/application field [4] - The company has deployed over 100 million AI hardware units under the Turing Inside brand, facilitating billions of AI interactions daily across various commercial scenarios, including education and transportation [4]

Core Points - The company, Zhongwen Tiandi Publishing Media Group Co., Ltd., has registered to issue up to RMB 3 billion in short-term financing bonds to optimize its debt structure and reduce financing costs [1] - The company has successfully completed the issuance of the fourth and fifth phases of short-term financing bonds for the year 2025, raising a total of RMB 1 billion [2] Group 1 - The company applied for the registration of short-term financing bonds with the China Interbank Market Dealers Association, which accepted the registration amount of RMB 3 billion, valid for two years from the date of the notice [1] - The total amount raised from the fourth and fifth phases of the short-term financing bonds is RMB 1 billion, which has been credited to the company's designated account [2] Group 2 - Detailed issuance results for the fourth and fifth phases of the short-term financing bonds can be found on various financial websites, including China Money, Beijing Financial Assets Exchange, and Shanghai Clearing House [3]

Group 1 - The company, Zhongwen Media, announced the completion of the issuance of the fourth and fifth phases of ultra-short-term financing bonds for the year 2025, with a total issuance amount of RMB 1 billion [2] - The raised funds have been deposited into the company's designated account [2]

证券代码：600373 证券简称：中文传媒 公告编号：临 2025-074 中文天地出版传媒集团股份有限公司 2025 年度第四期和第五期超短期融资券发行情况的公 告 1.2025年第四期超短期融资券的发行结果 | 主承销商 | 兴业银行股份有限公司 | | --- | --- | | 联席主承销商 | 中信银行股份有限公司 | 2. 2025年第五期超短期融资券的发行结果 | 名 称 | 中文天地出版传媒集团 股份有限公司2025年度 第五期超短期融资券 | 简 称 | 25中文天地SCP005 | | --- | --- | --- | --- | | 代 码 | 012582672 | 期 限 | 270日 | | 发行日 | 2025年11月4日 | 上市流通日 | 2025年11月6日 | | 起息日 | 2025年11月5日 | 兑付日 | 2026年8月2日 | | 计划发行总额 | 5亿元 | 实际发行总额 | 5亿元 | | 票面利率 | 1.63% | 发行价 | 100元/百元面值 | | 簿记管理人 | 上海浦东发展银行股份有限公司 | | | | 主承销商 | 上海浦东发展银行股份有 ...

Core Viewpoint - The company has applied to the National Association of Financial Market Institutional Investors for the registration of issuing no more than 3 billion yuan in ultra-short-term financing bonds, with the registration valid for two years starting from December 25, 2024 [1] Group 1 - The company has completed the issuance of the fourth and fifth phases of ultra-short-term financing bonds for the year 2025, with a total issuance amount of 1 billion yuan [1] - The issuance date for the fourth phase was November 3, 2025, with both planned and actual issuance amounts being 500 million yuan and a coupon rate of 1.63% [1] - The issuance date for the fifth phase was November 4, 2025, with similar conditions to the fourth phase [1]

Core Viewpoint - The company plans to utilize idle funds of 9.5 billion yuan for wealth management products in 2026, indicating a strategy to enhance fund efficiency and returns amidst declining performance in its core business [1][4]. Financial Performance - In the first three quarters of 2025, the company reported revenue of 5.29 billion yuan, a year-on-year decline of 26.54%, and a net profit of 399 million yuan, down 49.06% [4]. - The revenue drop is attributed to changes in the subscription method for educational materials, while the net profit decline is due to reduced income from educational books and interest [4]. - The cash flow from operating activities turned negative, dropping from 362 million yuan in the previous year to -801 million yuan [4]. Wealth Management Strategy - The company has consistently utilized idle funds for wealth management from 2021 to 2025, with planned amounts increasing from 7 billion yuan in 2024 to 9 billion yuan in 2026 [1]. - The wealth management products include a diversified range such as bank wealth management, special account management, asset management plans, and treasury reverse repos [1][3]. Subsidiary Performance - The subsidiary, Beijing Zhixing Star Technology Co., Ltd., has shown disappointing performance, with revenues declining from 1.841 billion yuan in 2021 to 1.236 billion yuan in 2024 [6]. - The net profit for the subsidiary also halved during the same period, indicating a significant downturn in its financial health [6]. Management Changes - Recent management changes at Zhixing Star include the suspension of the president and the dismissal of key personnel, with a focus on reforming the company culture and improving competitiveness [7]. - The company aims to develop new competitive products as its flagship game, "Clash of Kings," approaches the end of its lifecycle [7].