Core Insights - Tianxiaxiu (600556.SH) reported a revenue of 891 million yuan for Q3 2025, representing a year-on-year decline of 14.44% [1] - The net profit attributable to shareholders of the listed company was -722,900 yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.11 million yuan, a year-on-year decrease of 93.28% [1]

Core Viewpoint - Tianxiao (600556.SH) reported a net loss of 722,900 yuan in the third quarter of 2025, indicating financial challenges for the company [1] Financial Performance - The company's operating revenue for the third quarter was 891 million yuan, representing a year-on-year decline of 14.44% [1] - The net profit attributable to shareholders was -722,900 yuan, indicating a loss [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.11 million yuan, which is a significant decrease of 93.28% year-on-year [1]

证券代码：600556 证券简称：天下秀 公告编号：临 2025-043 天下秀数字科技（集团）股份有限公司 关于公司 2025 年第三季度计提资产减值准备的公告 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。 天下秀数字科技（集团）股份有限公司（以下简称"公司"）于2025年10月 29日召开第十一届董事会第十六次会议和第十一届监事会第十六次会议，审议 通过了《关于公司2025年第三季度计提资产减值准备的议案》，现将本次计提 减值准备的具体情况公告如下： 一、本次计提资产减值准备情况的概述 根据《企业会计准则》和公司财务管理制度的相关规定，为更加真实、准 确地反映公司 2025 年 9 月 30 日的财务状况以及 2025 年第三季度经营成果，公 司及合并范围内子公司基于谨慎性原则，对各类资产进行了清查、分析和评 估，对部分可能发生信用及资产减值的资产计提了减值准备，具体情况如下： 单位：人民币万元 | | 项 目 | 本期计提减值准备金额 | | --- | --- | --- | | | 应收账款坏账损失 | -185. ...

证券代码：600556 证券简称：天下秀 公告编号：临 2025-044 天下秀数字科技（集团）股份有限公司 关于召开 2025 年第三季度业绩说明会预告的公告 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： 一、说明会类型 天下秀数字科技（集团）股份有限公司（以下简称"公司"）于2025年10月 30日披露了《2025年第三季度报告》。具体内容详见同日刊登在上海证券交易 所网站（www.sse.com.cn）及指定信息披露媒体上的相关公告。 根据《上海证券交易所上市公司自律监管指引第1号——规范运作》等相关 规定，为使广大投资者更加全面、深入地了解公司情况，公司拟通过网络平台 交流互动的方式举行"2025年第三季度业绩说明会"。 二、说明会召开的时间、地点 1. 会议召开时间：2025年11月12日（星期三）15:00-16:00 2. 会议召开地点：中国证券网路演中心（http://roadshow.cnstock.com/） 3. 会议召开方式：网络互动 三、参会人员 公司出席本次说明会的人员：董事长兼总 ...

天下秀数字科技（集团）股份有限公司（以下简称"公司"）第十一届监事 会第十六次会议于 2025 年 10 月 29 日以现场结合通讯方式召开。会议应出席监 事 3 人，实际出席监事 3 人。会议的召开符合《公司法》及《公司章程》的规 定。全体与会监事通过如下议案： 证券代码：600556 证券简称：天下秀 公告编号：临 2025-042 天下秀数字科技（集团）股份有限公司 第十一届监事会第十六次会议决议公告 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。 具体内容请详见本公司于同日在上海证券交易所网站（www.sse.com.cn） 披露的公告。 特此公告。 天下秀数字科技（集团）股份有限公司监事会 二〇二五年十月三十日 一、审议通过《关于公司2025年第三季度报告的议案》 表决结果：3票同意、0票反对、0票弃权。 具体内容请详见本公司于同日在上海证券交易所网站（www.sse.com.cn） 披露的公告。 二、审议通过《关于公司 2025 年第三季度计提资产减值准备的议案》 公司按照《企业会计准则》和公司财务制度的有关规定计 ...

证券代码：600556 证券简称：天下秀 公告编号：临 2025-041 天下秀数字科技（集团）股份有限公司 第十一届董事会第十六次会议决议公告 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。 天下秀数字科技（集团）股份有限公司（以下简称"公司"）第十一届董事 会第十六次会议于 2025 年 10 月 29 日以现场结合通讯方式召开。会议应出席董 事 7 人，实际出席董事 7 人。会议的召开符合《公司法》及《公司章程》的规 定。全体与会董事通过如下议案： 具体内容请详见本公司于同日在上海证券交易所网站（www.sse.com.cn） 披露的公告。 二、审议通过《关于公司 2025 年第三季度计提资产减值准备的议案》 公司依据实际情况计提资产减值准备，符合《企业会计准则》和公司财务 管理制度的规定，公允、准确地反映了公司的资产状况，同意本次计提资产减 值准备。 本议案已经审计委员会审议通过，并同意将本议案提交公司董事会审议。 表决结果：7 票同意、0 票反对、0 票弃权。 具体内容请详见本公司于同日在上海证券交易所网站（www. ...

Financial Performance - Total revenue for Q3 2025 was ¥890,563,219.19, a decrease of 14.44% compared to the same period last year[4] - Net profit attributable to shareholders was -¥722,935.72, representing a decline of 103.55% year-on-year[4] - The total profit for the year-to-date was ¥34,181,516.84, down 51.37% compared to the previous year[4] - Basic earnings per share for Q3 2025 was -¥0.0004, a decrease of 103.54% from the same period last year[6] - Total operating revenue for the first three quarters of 2025 was CNY 2,734,486,872.56, a decrease of 10.2% compared to CNY 3,045,295,579.97 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was CNY 32,573,041.36, a decline of 46.3% from CNY 60,547,460.16 in 2024[20] - The company's operating revenue for the first three quarters of 2025 was CNY 40,216,686.15, a decrease of 33.4% compared to CNY 60,424,626.42 in the same period of 2024[27] - The net profit for the first three quarters of 2025 reached CNY 87,145,023.74, significantly up from CNY 18,946,245.71 in the previous year, marking an increase of 359.5%[27] Cash Flow - Cash flow from operating activities for the year-to-date was -¥36,499,696.15, an increase of 52.00% compared to the previous year[4] - Cash flow from operating activities for the first three quarters of 2025 was a net outflow of CNY 36,499,696.15, an improvement from a net outflow of CNY 76,046,728.03 in 2024[22] - The company's cash flow from investing activities showed a net inflow of CNY 61,910,751.03, contrasting with a net outflow of CNY 305,148,829.77 in the previous year[23] - The company's cash flow from financing activities generated a net inflow of CNY 7,024,143.18, compared to a net outflow of CNY 535,466,084.16 in the previous year[23] - In the first three quarters of 2025, the company generated cash inflows from operating activities amounting to ¥153,633,282.83, a significant increase from ¥6,491,372.26 in the same period of 2024[29] - The net cash flow from operating activities for the first three quarters of 2025 was ¥132,942,519.77, compared to a negative cash flow of ¥4,002,013.31 in 2024[29] - The company reported cash inflows from investment activities totaling ¥1,044,373,466.37 in the first three quarters of 2025, up from ¥295,780,480.82 in 2024[29] - The net cash flow from investment activities was negative at ¥691,709,147.54 for the first three quarters of 2025, contrasting with a positive cash flow of ¥34,484,989.10 in 2024[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,204,082,234.35, down 4.01% from the end of the previous year[6] - The total current assets as of September 30, 2025, amount to ¥4,385,289,354.16, a decrease from ¥4,615,129,893.14 on December 31, 2024[16] - The total assets as of September 30, 2025, are ¥5,204,082,234.35, down from ¥5,421,739,476.49 on December 31, 2024[17] - The total current liabilities as of September 30, 2025, are ¥1,364,349,110.78, a decrease from ¥1,592,552,177.74 on December 31, 2024[17] - Total liabilities increased to CNY 1,621,588,418.95 in 2025 from CNY 1,389,324,990.93 in 2024, reflecting a growth of 16.7%[18] - The total liabilities as of September 30, 2025, were CNY 68,587,340.84, compared to CNY 53,787,592.53 at the end of 2024[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 114,729[12] - ShowWorld HongKong Limited holds 332,615,750 shares, accounting for 18.40% of total shares[12] - WB Online Investment Limited owns 147,726,614 shares, representing 8.17% of total shares[12] Management and Strategy - The company attributed the decline in profits to market environment impacts and a decrease in business scale[10] - The company has increased efforts in receivables collection, contributing to improved cash flow from operating activities[11] - The company's management expenses for the first three quarters of 2025 were CNY 12,679,589.98, significantly higher than CNY 4,971,445.76 in the same period of 2024[27] - The company's management indicated a focus on expanding market presence and enhancing product offerings in future strategies[30] Other Financial Metrics - The weighted average return on equity was -0.02%, a decrease of 0.55 percentage points compared to the previous year[6] - Non-recurring gains and losses for the current period totaled -¥1,832,462.92, with a year-to-date total of ¥2,308,817.58[9] - The company reported a credit impairment loss of CNY 14,138,755.69 in 2025, compared to a gain of CNY 47,391,677.10 in 2024[20] - The company recorded other comprehensive income after tax of CNY -3,538,025.05 in 2025, contrasting with CNY 959,542.33 in 2024[20] - The company's total equity attributable to shareholders increased slightly to CNY 3,846,397,748.84 in 2025 from CNY 3,830,224,006.07 in 2024[18] - The company's total equity as of September 30, 2025, was CNY 3,135,112,513.74, an increase from CNY 3,063,514,120.43 at the end of 2024[26]

Core Insights - The advertising and marketing sector experienced a decline of 0.6% on October 29, with Jiyun Technology leading the drop [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Tianyu Shuke (002354) rose by 2.56% to close at 6.82, with a trading volume of 956,900 shares and a turnover of 648 million yuan [1] - Jiyun Technology (300242) fell by 4.20% to close at 4.56, with a trading volume of 362,900 shares and a turnover of 167 million yuan [2] - The overall advertising and marketing sector saw a net outflow of 515 million yuan from major funds, while retail investors contributed a net inflow of 459 million yuan [2][3] Fund Flow Analysis - Major funds showed a net inflow of 72.18 million yuan into Tianyu Shuke, while retail investors had a net outflow of 62.32 million yuan [3] - For Fenjun Media (002027), major funds had a net inflow of 38.87 million yuan, but retail investors saw a net inflow of only 1.24 million yuan [3] - ST Huayang (603825) experienced a net inflow of 4.06 million yuan from major funds, while retail investors had a net inflow of 0.48 million yuan [3]

Core Viewpoint - Tianxiexiu (600556) experienced a significant increase in stock price, reaching the daily limit with a turnover rate of 10.52% and a transaction volume of 1.142 billion yuan, indicating strong market interest and trading activity [2] Trading Activity - The stock was listed on the Shanghai Stock Exchange due to a price deviation of 10.31%, with net purchases from the Shanghai-Hong Kong Stock Connect amounting to 6.1417 million yuan [2] - The top five trading departments accounted for a total transaction volume of 256 million yuan, with net purchases totaling 120 million yuan [2] - The main buying department was UBS Securities, with a purchase amount of 46.6094 million yuan, while the main selling department was also from the Shanghai-Hong Kong Stock Connect, selling 26.5377 million yuan [3][4] Capital Flow - The stock saw a net inflow of 346 million yuan from major funds, with large orders contributing 333 million yuan to this inflow [2] - Over the past five days, the net inflow of major funds reached 192 million yuan [2] Margin Trading - As of October 27, the margin trading balance for the stock was 508 million yuan, with a financing balance of 506 million yuan and a securities lending balance of 1.7283 million yuan [2] - The financing balance increased by 13.104 million yuan over the past five days, reflecting a growth rate of 2.66%, while the securities lending balance decreased by 158,900 yuan, showing a decline of 8.42% [2] Financial Performance - In the first half of the year, the company reported a revenue of 1.844 billion yuan, representing a year-on-year decline of 8.01%, and a net profit of 36.3792 million yuan, down 19.28% compared to the previous year [3]

Core Insights - The advertising and marketing sector saw a rise of 0.89% on October 28, with Tianxiexiu leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Tianxiexiu (600556) closed at 6.11, up 10.09%, with a trading volume of 1.9024 million shares and a transaction value of 1.142 billion [1] - Jiayun Technology (300242) closed at 4.76, up 4.16%, with a trading volume of 405,900 shares and a transaction value of 193 million [1] - Xinhua Du (002264) closed at 7.06, up 3.22%, with a trading volume of 331,900 shares and a transaction value of 232 million [1] - Other notable performers include Yaowang Technology (002291) up 3.12% and Qida Technology (300061) up 2.77% [1] Capital Flow - The advertising and marketing sector experienced a net inflow of 493 million from institutional investors, while retail investors saw a net outflow of 301 million [2] - The main stocks with significant capital inflow include Tianxiexiu with a net inflow of 337 million, accounting for 29.56% of its trading volume [3] - Conversely, retail investors showed a net outflow from stocks like Yidian Tianxia, which had a net outflow of 81.31 million, representing 8.98% of its trading volume [3]