Group 1 - The company reported a significant increase in revenue for Q1 2025, achieving 36.71 million yuan, a year-on-year growth of 74.47%, while the net loss narrowed to 8.26 million yuan, a reduction of 64.11% compared to the same period in 2024 [1] - The growth in revenue is primarily attributed to the rising demand for AI products and the successful implementation of AI application initiatives that began in 2024 [1] - The completion of several projects by the end of 2024 contributed to the revenue increase in Q1 2025 [1] Group 2 - The company, under China Guoxin Holdings, is advancing AI technology in educational services through its subsidiary, Oweya Electronics, which has nearly 500 proprietary intellectual properties and over 1,000 partners, serving more than 70,000 schools [2] - Oweya has maintained a leading position in the industry with a research and development investment intensity of 30.25% in 2024, and has upgraded its education-specific model to version 2.0, enabling real-time data collection and analysis in classrooms [2] - The company is transitioning from a traditional educational equipment provider to a comprehensive AI education service provider [2] Group 3 - The company has established a dual business structure focusing on "information technology + vocational education" in alignment with the "Education Strong Nation" strategy [3] - The company has implemented five educational assistance projects, serving over 710 primary and secondary schools and training more than 5,900 teachers, impacting approximately 198,000 students [3] - The company aims for steady internal growth and external innovation, exploring overseas business opportunities and optimizing its industrial layout to enhance core functions and competitiveness [3]

Core Viewpoint - The company, Guoxin Culture, is leveraging technological innovation to respond to national education strategies, demonstrating resilience in the digital education sector despite temporary performance pressures due to industry cyclicality [1] Group 1: Technological Innovation and AI Integration - Guoxin Culture is transitioning from "AI empowerment" to "AI dominance," enhancing its core competitiveness through significant advancements in AI technology [2] - The company maintains a leading position in R&D investment intensity, with nearly 500 proprietary intellectual properties held by its subsidiary, Aoweiya, establishing a strong technological moat [2] - Breakthroughs in AI technologies such as computer vision, natural language processing, and large language models have led to the successful launch of AI supervision systems for higher education, receiving high user recognition [2][3] Group 2: Education Digitalization and Market Demand - The ongoing national education digitalization strategy is fostering closer integration of technology and education, with AI and educational models becoming new driving forces [3] - Guoxin Culture is actively guiding AI market demand and has initiated a special action for AI integration in schools, aiming for large-scale application [3] Group 3: Social Responsibility and Educational Support - As a state-owned enterprise, Guoxin Culture has implemented five educational support projects, benefiting over 710 schools and training more than 5,900 teachers, reaching approximately 198,000 students [4] - The company is making significant strides in vocational education, exploring innovative talent cultivation models in collaboration with Southwest Jiaotong University [4] Group 4: Corporate Reform and Operational Efficiency - Guoxin Culture is advancing its reform initiatives, establishing a customer-centric process system and a matrix organizational structure to enhance operational efficiency [6] - The company has improved its supply chain management and digital management systems, contributing to a better market recognition of its listed company [6] Group 5: Future Strategic Focus - For 2025, Guoxin Culture plans to focus on six key areas, including promoting technological innovation in AI, expanding business operations, and enhancing capital operations to support diversified development [7][8] - The company aims to inject new vitality into its development through reform and lean management, while also emphasizing the importance of party leadership and high-quality development [8]

尽管人形机器人、大消费等主题可能在短期内难以改变这一趋势，但其背后的主要逻辑有三点： 各位投资者朋友，请注意以下信息： 今年的投资热点已经清晰显现——算力将成为下半年最为突出的主导趋势！ 据机构预测，未来五年，我国算力服务中心市场预计将以18.9%的复合年增长率持续增长，预计到2027年， 市场规模将达到3075亿元人民币。 3. 中央汇金巨额资金入场，三大行业巨头蓄势待涨 作为依托于央行和财政部的顶尖国家队，中央汇金每次介入市场总能引发重大行情。2015年，它果断介入 泸州老窖，股价随即飙升10倍；2017年，它精准介入长春高新，股价从百元水平攀升至最高680元；今年深 圳华强更是连续16个涨停板！ 1. 政策大力支持，推动国产算力的迅速发展 我国高度重视人工智能在推动现代化产业体系中的关键作用，并从国家层面发布了多项政策，以支持算力 基础设施的建设。 2. 在市场和需求的共同推动下，算力市场正迎来前所未有的扩张 在政策和需求的共同推动下，预计到2025年，算力行业将迎来黄金发展期。 以下三家行业龙头值得特别关注： 第一家企业，中兴通讯： 在通信领域深耕细作，积极推动全国一体化算力网络国家枢纽节点的建设，中 ...

Core Viewpoint - Five A-share companies will be subject to delisting risk warnings starting April 29, indicating a potential increase in companies facing performance-related risks as financial reports are disclosed [1][2]. Group 1: Delisting Risk Warnings - Five companies, including Lihang Technology and Gengxing Co., announced their stocks will be suspended for one day on April 28 and will receive delisting risk warnings from April 29 [1][2]. - The upcoming busy period for annual and quarterly report disclosures may lead to more companies reporting underperformance or losses, raising the likelihood of delisting risk warnings [2][4]. Group 2: Regulatory Changes - The "new delisting regulations" introduced stricter standards for mandatory delisting, including raising the revenue threshold for loss-making companies on the main board from 100 million to 300 million [2][3]. - The market capitalization delisting threshold has been increased from below 300 million to below 500 million, and the criteria for significant violations leading to delisting have been lowered [2][3]. Group 3: Impact on Market Dynamics - The introduction of dividend risk warnings aims to improve the dividend behavior of listed companies, which is expected to enhance investor returns and promote a positive investment cycle [4]. - The ongoing emphasis by the China Securities Regulatory Commission on solidifying the delisting mechanism is crucial for the healthy development of the capital market [4].

重要内容提示： ● 证券停复牌情况：适用 因国新文化控股股份有限公司（以下简称"公司"）2024年度经审计的利润总额、净利润、扣除非经常性 损益后的净利润均为负值，且营业收入低于3亿元，公司股票将被实施退市风险警示。本公司的相关证 券停复牌情况如下： ■ 第一节 股票种类简称、证券代码以及实施退市风险警示的起始日 第二节 实施风险警示的适用情形 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）股票种类：人民币普通股A股 （二）股票简称：股票简称由"国新文化"变更为"*ST国化" （三）股票代码：仍为"600636" （四）实施退市风险警示的起始日：2025年4月29日 （一）最近一个会计年度经审计的利润总额、净利润或者扣除非经常性损益后的净利润孰低者为负值且 营业收入低于3亿元，或追溯重述后最近一个会计年度利润总额、净利润或者扣除非经常性损益后的净 利润孰低者为负值且营业收入低于3亿元； （二）最近一个会计年度经审计的期末净资产为负值，或追溯重述后最近一个会计年度期末净资产为负 值； 经立信会计师事务所（特殊普通合伙）审 ...

Mergers and Acquisitions - Guancheng New Materials announced the termination of a major asset restructuring process, opting to transfer equity stakes in 12 companies to its controlling shareholder or designated related parties through cash asset sales. The transaction does not constitute a major asset restructuring and will proceed as a general related party transaction [1] Performance Disclosure - Huguang Co., Ltd. reported a net profit attributable to shareholders of 670 million yuan for 2024, representing a year-on-year increase of 1139.15%. The company's operating revenue reached 7.914 billion yuan, up 97.70% year-on-year [2] - Daming City reported a net loss of approximately 2.336 billion yuan for 2024, with operating revenue of 4.171 billion yuan, a decline of 64.34% year-on-year. The previous year saw a net profit of 223 million yuan [3] - China Shenhua reported a net profit of nearly 12 billion yuan for the first quarter of 2025, a decrease of 18.0% year-on-year. The company's operating revenue was 69.585 billion yuan, down 21.1% year-on-year [4] - China Telecom reported a net profit of 8.864 billion yuan for the first quarter of 2025, an increase of 3.11% year-on-year. The company's revenue was 134.509 billion yuan, a slight increase of 0.01% year-on-year [5] Share Buybacks - Zhong无人机 announced a plan to repurchase shares worth 100 million to 200 million yuan, with a maximum repurchase price of 60.52 yuan per share, intended for equity incentives or employee stock ownership plans [6] - Zhongtong Bus announced a plan to repurchase shares worth no less than 100 million and no more than 200 million yuan, with a maximum repurchase price of 15 yuan per share [7] - Shuangta Food announced a plan to repurchase shares worth 200 million to 300 million yuan, with a maximum repurchase price of 7.95 yuan per share [8] Risk Matters - Yinghantong announced that shareholders plan to reduce their holdings by no more than 3% of the company's shares due to funding needs [10] - Huarong Holdings announced that it will be subject to delisting risk warnings due to negative net profits for the 2024 fiscal year and insufficient operating revenue [11] - Guoxin Culture announced that it will also be subject to delisting risk warnings due to negative profits and insufficient operating revenue for 2024 [12] - Hongtian Co. and its director were notified by the China Securities Regulatory Commission of an investigation due to alleged violations related to undisclosed related party transactions [13]

国新文化控股股份有限公司 2024 年度独立董事述职报告 作为国新文化控股股份有限公司（以下简称"公司"或 "国新文化"）的独立董事，本人在任职期间严格按照《公 司法》《上市公司独立董事管理办法》等法律法规以及《公 司章程》《独立董事工作制度》的要求，在 2024 年度工作中 忠实履行职责。现将 2024 年本人履职情况报告如下： 一、独立董事基本情况 （一）现任独立董事工作履历 江伟，男，汉族，1978 年 7 月出生，中共党员，博士研 究生学历，教授，博士生导师，财政部学术类会计领军人才。 2006 年博士毕业于厦门大学管理学院企业管理（公司财务） 专业。曾任暨南大学管理学院会计学系讲师、副教授、教授， 美国华盛顿大学商学院金融学系访问学者，北京大学光华管 理学院会计学博士后。现任中国人民大学商学院会计学系教 授、博士生导师，中国会计学会环境资源会计专业委员会委 员、国家自然科学基金同行评议专家、北京百纳千成影视股 份有限公司独立董事、国新文化控股股份有限公司独立董事。 （二）是否存在影响独立性的情况说明 本人未在公司担任除独立董事以外的任何职务，也未在 公司主要股东单位担任任何职务，与公司及公司主要股东 ...

国新文化控股股份有限公司 市值管理办法 第一章 总 则 第一条 为切实推动国新文化控股股份有限公司（以下 简称"公司"）投资价值提升，进一步加强和规范公司市值 管理工作，维护公司、投资者及其他利益相关者的合法权益， 根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《国务院关于加强监管防范风险推动资本市场高质量发展的 若干意见》（国发〔2024〕10 号）、《上市公司监管指引第 10 号——市值管理》（证监会公告〔2024〕14 号）、《关于 改进和加强中央企业控股上市公司市值管理工作的若干意见》 （国资发产权规〔2024〕100 号）等法律法规、规范性文件 和《公司章程》等规定，制定本办法。 第二章 市值管理的组织机构与职责 第二条 本办法所称市值管理，是指公司以提高公司质 量为基础，为提升公司投资价值和投资者回报能力和水平而 实施的战略管理行为。 第三条 市值管理的基本原则： （一）合规性原则：公司应当在严格遵守相关法律法规、 规范性文件、自律监管规则以及《公司章程》等内部规章制 度的前提下开展市值管理工作。 （二）系统性原则：公司应当按照系统思维、整体推进 — 1 — 的原则，协同公司各业务体系 ...

国新文化控股股份有限公司 2024 年度独立董事述职报告 作为国新文化控股股份有限公司（以下简称"公司"或 "国新文化"）的独立董事，本人在任职期间严格按照《公 司法》《上市公司独立董事管理办法》等法律法规以及《公 司章程》《独立董事工作制度》的要求，在 2024 年度工作中 忠实履行职责。现将 2024 年本人履职情况报告如下： 一、独立董事基本情况 （一）独立董事工作履历 许大志，男，1977 年 6 月出生，中共党员，硕士研究生。 曾任北京新清泰克体育科技有限公司董事，COO、北京一零 二四教育科技有限公司副总裁、航天三院 304 所信息工程（软 件）事业部技术总监、安永（中国）企业咨询有限公司高级 经理等。现任北京佳行申健智康科技有限公司总经理、国新 文化控股股份有限公司独立董事。 （二）是否存在影响独立性的情况说明 本人未在公司担任除独立董事以外的任何职务，也未在 公司主要股东单位担任任何职务，与公司及公司主要股东或 有利害关系的机构和人员之间不存在妨碍独立董事进行独 立客观判断的关系，未从公司及公司主要股东或有利害关系 的机构和人员取得额外的、未予披露的其他利益。本人不存 在影响独立性的情形。 二 ...

国新文化控股股份有限公司 总经理办公会议事规则 第一章 总 则 第一条 为了全面落实习近平总书记关于"两个一以贯之" 的重要指示要求，健全中国特色现代企业制度，完善公司治理结 构，规范国新文化控股股份有限公司（以下简称国新文化或者公 司）总经理办公会议事程序，保证公司经理层依法行使职权、履 行职责、承担义务，依据《中华人民共和国公司法》《国新文化 控股股份有限公司章程》（以下简称《公司章程》）、《国新文 化控股股份有限公司党委会议事规则》《国新文化控股股份有限 公司董事会议事规则》《国新文化控股股份有限公司董事会向经 理层授权管理办法（试行）》以及有关法律、法规，制定本规则。 第二条 公司经理层成员包括总经理、副总经理、董事会秘 书和财务总监，实行总经理负责制。经理层是公司的执行机构， 谋经营、抓落实、强管理，应当自觉维护公司党委发挥把方向、 管大局、保落实的领导作用，自觉维护董事会发挥定战略、作决 策、防风险的经营决策主体作用。 第三条 总经理对董事会负责，对公司的生产经营管理工作 负总责，根据《公司章程》的规定或者董事会的授权行使职权， - 1 - 向董事会报告工作。 第四条 总经理办公会是总经理对公司经 ...