Investment Rating - The report maintains a "Buy" rating for the company [3][6]. Core Views - The company reported a robust revenue growth of 4.16% year-on-year in Q1 2025, achieving a total revenue of 706 million yuan. The net profit attributable to shareholders increased significantly by 44.86% year-on-year, reaching 144 million yuan [1]. - The growth in performance is attributed to improved profitability of subsidiaries and changes in the fair value of financial assets held by the company and its subsidiaries, with a fair value change gain of 52.5 million yuan in Q1 [1]. - The company is focusing on a "Cultural + Technology" strategy, enhancing its business capabilities through organic growth and acquisitions, while optimizing its industry structure [2]. Financial Performance Summary - For Q1 2025, the company achieved a gross margin of 57.52%, a decrease of 6.07 percentage points year-on-year. The net profit margin increased by 5.72 percentage points year-on-year to 20.35% [1]. - The company’s operating expenses for sales, management, and R&D were 13.98%, 14.76%, and 12.42% respectively, showing a reduction in sales expenses and a slight increase in R&D expenses compared to the previous year [1]. - The forecast for net profit attributable to shareholders for 2025-2027 is projected to be 645 million, 750 million, and 830 million yuan respectively, with corresponding EPS of 0.51, 0.59, and 0.65 yuan per share [3][5].

Investment Rating - The report maintains a "Buy" rating for the company [3][6]. Core Views - The company reported a robust revenue growth of 4.16% year-on-year in Q1 2025, achieving a total revenue of 706 million yuan. The net profit attributable to shareholders increased significantly by 44.86% year-on-year, reaching 144 million yuan [1]. - The growth in performance is attributed to the improved profitability of subsidiaries and changes in the fair value of financial assets held by the company and its subsidiaries, with a fair value change gain of 52.5 million yuan in Q1 [1]. - The company focuses on the "Cultural + Technology" strategy, enhancing its business capabilities through organic growth and mergers and acquisitions, while continuously optimizing its industrial structure [2]. Financial Performance Summary - For Q1 2025, the company achieved a gross margin of 57.52%, a decrease of 6.07 percentage points year-on-year. The net profit margin increased by 5.72 percentage points year-on-year to 20.35% [1]. - The company’s operating expenses for sales, management, and R&D were 13.98%, 14.76%, and 12.42% respectively, showing a reduction in sales expenses and a slight increase in R&D expenses compared to the previous year [1]. - The projected net profits for 2025, 2026, and 2027 are estimated at 644.56 million yuan, 750.36 million yuan, and 829.98 million yuan respectively, with corresponding EPS of 0.51, 0.59, and 0.65 yuan per share [3][5]. Business Strategy and Development - The company is committed to the "1335" strategic action plan, focusing on the "Cultural + Technology" main track, and is actively exploring new business scenarios in digital culture and technology [2]. - The gaming business remains stable, with the company maintaining a leading position in the industry through its subsidiary, Bianfeng Network, which specializes in card games [2]. - The company is also advancing in digital media, smart city governance, and smart healthcare, with significant upgrades in its data centers and digital operations across various regions [2].

证券代码：600633 股票简称：浙数文化 编号：临 2025-028 浙报数字文化集团股份有限公司 关于第十届监事会第十八次会议决议的公告 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。 公司第十届监事会第十八次会议于 2025 年 4 月 21 日以通讯会议方式召开， 会议通知于 2025 年 4 月 18 日以书面形式发出。本次会议应到监事 3 人，实到监 事 3 人，会议由监事会主席何颖女士主持。本次会议的召开符合《公司法》及《公 司章程》的规定。 1、公司 2025 年第一季度报告的编制和审议程序符合法律、法规、公司章程和 公司内部管理制度的各项规定； 2、公司 2025 年第一季度报告的内容和格式符合中国证监会和上海证券交易所 的各项规定，所包含的信息真实地反映出公司报告期内的经营管理和财务状况等事 项； 3、在提出本意见前，未发现参与 2025 年第一季度报告编制和审议的人员有违 反保密规定的行为。 内容详见公司同日于上交所网站 www.sse.com.cn 及《上海证券报》披露的公告。 表决结果为：3 票同意， ...

证券代码：600633 股票简称：浙数文化 编号：临2025-029 本议案已提前经公司第十届董事会审计委员会2025年第三次会议全体成员 审议通过。具体报告内容详见《上海证券报》及上海证券交易所网站 www.sse.com.cn。 表决结果：同意5 票，反对0 票，弃权0 票。 浙报数字文化集团股份有限公司 第十届董事会第二十五次会议决议的公告 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。 公司第十届董事会第二十五次会议（以下简称"本次会议"）于2025年4月 21日以通讯会议方式召开，会议通知于2025年4月18日以书面形式发出。本次会 议应到董事5名，实到董事5名，本次会议的召开符合《公司法》及公司章程的规 定。 会议审议并通过了《浙数文化2025年第一季度报告》 特此公告。 浙报数字文化集团股份有限公司董事会 2025年4月22日 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 706,427,491.06, representing a 4.16% increase compared to CNY 678,240,718.47 in the same period last year[4] - Net profit attributable to shareholders increased by 44.86% to CNY 143,753,242.27 from CNY 99,235,247.44 year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 44.56% to CNY 102,927,778.16 compared to CNY 71,200,940.14 in the previous year[4] - Basic and diluted earnings per share increased by 37.50% to CNY 0.11 from CNY 0.08 in the same period last year[4] - The weighted average return on equity improved to 1.43%, an increase of 0.43 percentage points compared to 1.00% in the previous year[4] - The company reported a net profit margin improvement, with net profit for Q1 2025 expected to reflect operational efficiencies despite increased costs[19] - Operating profit for Q1 2025 reached CNY 168,235,866.06, up from CNY 141,625,800.56 in the same period last year, reflecting a growth of 18.8%[20] - The company reported a total comprehensive income of CNY 148,742,554.33 for Q1 2025, compared to CNY 103,789,360.89 in Q1 2024, indicating a growth of 43.3%[21] Cash Flow and Assets - The net cash flow from operating activities was CNY 8,770,112.72, a significant recovery from a negative cash flow of CNY -237,663,999.02 in the same period last year[4] - Cash and cash equivalents decreased to ¥1,276,700,764.24 as of March 31, 2025, down from ¥1,393,919,577.60 on December 31, 2024[15] - Total current assets increased to ¥3,030,520,581.21 as of March 31, 2025, compared to ¥2,943,913,050.95 at the end of 2024, representing a growth of 2.9%[16] - Total non-current assets slightly decreased to ¥9,304,369,675.90 as of March 31, 2025, from ¥9,393,597,150.91 at the end of 2024[16] - Total liabilities decreased to ¥1,209,096,146.07 as of March 31, 2025, down from ¥1,357,658,645.17 at the end of 2024[17] - The company's total equity increased to ¥11,125,794,111.04 as of March 31, 2025, compared to ¥10,979,851,556.69 at the end of 2024[18] Shareholder Information - Zhejiang Media Holdings Group Co., Ltd. holds 418,873,836 shares, representing 33.03% of total shares[10] - The company has a significant shareholder, Hong Kong Central Clearing Limited, holding 21,445,848 shares, accounting for 1.69%[10] - The company has a total of 10 major shareholders, with the top 10 holding a significant portion of the shares[11] - The company’s major shareholder, Zhejiang Media Holdings, has pledged 200,000,000 shares to secure the exchangeable bonds issued[13] Investments and Partnerships - The company has initiated the dissolution process of a partnership enterprise, with the liquidation process currently underway[12] - The company’s investment in partnership enterprises has shown progress, with specific amounts and ownership percentages detailed in the report[12] - The total amount received from the partnership enterprises has reached 7,471.11 million RMB[13] - The company plans to issue 200,000,000 shares as part of a non-public offering of exchangeable bonds, which have been pledged to secure the bondholders[13] - The company has received approval from the Shanghai Stock Exchange for the issuance of exchangeable bonds[13] Research and Development - Research and development expenses in Q1 2025 amounted to ¥87,721,250.14, compared to ¥77,477,449.87 in Q1 2024, indicating a growth of 13.5%[19] Future Outlook - Future outlook includes plans for market expansion and potential new product launches to drive revenue growth in the upcoming quarters[19]

Group 1 - The core point of the article is that Zhejiang Shuju Culture (600633) reported its Q1 2025 revenue and net profit figures, showing positive growth in both metrics [1] Group 2 - The revenue for Q1 2025 was 706 million yuan, representing a year-on-year increase of 4.16% [1] - The net profit for Q1 2025 was 144 million yuan, reflecting a significant year-on-year growth of 44.86% [1]

证券代码：600633 证券简称：浙数文化 编号：2025-026 浙报数字文化集团股份有限公司 2024 年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 3、会议主持：董事长童杰先生因其他工作安排未出席本次会议，根据《公 司法》及《公司章程》的规定，经半数以上董事共同推举，会议由董事、总经理 何锋先生主持； 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 4 月 18 日 (二)股东大会召开的地点：浙江省杭州市拱墅区储鑫路 15 号浙报数字文化科技 园 A 座 3 楼 306 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 932 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 643,086,696 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 50.71 | | 份总数的比例（%） | | (四)表决方式是否 ...

国浩律师（杭州）事务所 关 于 浙报数字文化集团股份有限公司 2024 年年度股东会的 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年四月 国浩律师（杭州）事务所 股东会法律意见书 国浩律师（杭州）事务所 关 于 浙报数字文化集团股份有限公司 2024 年年度股东会的 国浩律师（杭州）事务所（以下简称"本所"）接受浙报数字文化集团股份 有限公司（以下简称"公司"或"浙数文化"）的委托，指派律师对公司于 2025 年 4 月 18 日召开的 2024 年年度股东会（以下简称"本次股东 ...

证券代码：600633 证券简称：浙数文化 编号：临 2025-027 浙报数字文化集团股份有限公司 关于召开 2025 年第一季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。 重要内容提示： 会议召开时间：2025 年 04 月 28 日（星期一）15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2025 年 04 月 21 日（星期一）至 04 月 25 日（星期五）16:00 前登录上证路演中心网站首页点击 "提问预征集"栏目或通过公司邮箱 zdm@600633.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 浙报数字文化集团股份有限公司（以下简称"公司"）将于 2025 年 4 月 22 日 发布公司 2025 年第一季度报告，为便于广大投资者更全面深入地了解公司 2025 年第一季度经营成果、财务状 ...

本次可交换债券的债券简称为"25 浙报 EB"，债券代码为"137193.SH"，实 际发行规模为 14 亿元，债券期限为 3 年。本期可交换债券换股期限自发行结束 日起满六个月后的第一个交易日起，至本期可交换债券到期日（如遇法定节假日 或休息日，则顺延至其后的第一个工作日），初始换股价为 14.35 元/股。 关于本次可交换债券后续事项，公司及浙报控股将根据相关规定及时履行信 息披露义务，敬请广大投资者注意投资风险。 特此公告。 1 / 2 证券代码：600633 证券简称：浙数文化 编号：临 2025-025 浙报数字文化集团股份有限公司 关于控股股东非公开发行可交换公司债券 发行完成的公告 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。 公司控股股东浙报传媒控股集团有限公司（以下简称"浙报控股"）拟以其 所持本公司 A 股股票为标的非公开发行可交换公司债券（以下简称"本次可交换 债券"）。该事项已获得上海证券交易所出具的《关于对浙报传媒控股集团有限公 司非公开发行可交换公司债券挂牌转让无异议的函》【上证函〔2025〕27 ...