Financial Performance - The company's operating revenue for 2024 reached ¥7,072,166,247.06, an increase of 4.64% compared to ¥6,758,802,951.73 in 2023[22] - The net profit attributable to shareholders for 2024 was ¥945,086,937.09, a decrease of 6.96% from ¥1,015,755,235.19 in 2023[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥999,519,133.46, up 12.45% from ¥888,817,938.39 in 2023[22] - The net cash flow from operating activities decreased by 52.05% to ¥568,565,628.45 from ¥1,185,831,606.30 in 2023[22] - The total assets at the end of 2024 were ¥13,804,444,381.17, an increase of 4.31% compared to ¥13,234,282,713.05 in 2023[22] - The net assets attributable to shareholders increased by 5.08% to ¥9,527,311,896.51 from ¥9,066,483,799.16 in 2023[22] - Basic earnings per share for 2024 were ¥0.78, down 7.14% from ¥0.84 in 2023[23] - The weighted average return on net assets for 2024 was 10.17%, a decrease of 1.43 percentage points from 11.60% in 2023[23] Quarterly Performance - The company's total revenue for Q1 2024 was approximately CNY 1.92 billion, with a net profit attributable to shareholders of CNY 262 million[24] - In Q2 2024, the revenue decreased to approximately CNY 1.65 billion, while the net profit attributable to shareholders was CNY 270 million[24] - Q3 2024 saw a slight decline in revenue to approximately CNY 1.65 billion, with a net profit of CNY 157 million attributable to shareholders[24] - The fourth quarter of 2024 reported revenue of approximately CNY 1.85 billion, with a net profit attributable to shareholders of CNY 256 million[24] - The company reported a significant operating cash flow of CNY 664 million in Q4 2024, indicating strong operational performance[24] Non-Recurring Gains and Losses - Non-recurring gains included CNY 14.4 million from government subsidies closely related to normal business operations in 2024[26] - The company recorded a non-recurring loss of CNY 121.5 million due to adjustments in tax and accounting regulations[28] - The total non-recurring losses for 2024 amounted to CNY 54.4 million after accounting for tax impacts and minority interests[28] Awards and Recognition - The company was recognized as one of the "Top 30 Cultural Enterprises in China" in 2024, highlighting its strong market position[31] - The company received over 150 national and provincial awards for its publications, showcasing its commitment to quality and innovation in the publishing industry[31] Market Share and Business Growth - The company's book market share in physical bookstores is 2.22%, ranking in the top ten among national publishing groups, while its online market share is 1.45% and 1.62% in the overall retail market[37] - The e-commerce business of Hubei Xinhua Bookstore Group has seen nearly a 100% year-on-year growth, placing it among the top six national distribution groups[34] - The company has successfully launched over 1,300 cultural and reading service activities across 29 university bookstores[33] - The company has completed the construction of 11 new physical bookstores and the Jiangxia Logistics Industrial Park project is set to commence operations soon[34] Education and Service Model - The company has developed a comprehensive education service model integrating online and offline channels, transitioning from single product sales to a full-process education service model[34] - The online education service platform has been fully launched in 75 county-level subsidiaries of the Hubei Xinhua Bookstore Group[44] Research and Development - The company’s R&D expenses increased by 7.06% to 23.48 million yuan, reflecting its commitment to improving content production quality[53] - Total R&D investment amounted to ¥25,195,293.09, representing 0.36% of operating revenue[61] - The number of R&D personnel is 138, accounting for 3.06% of the total workforce[62] Corporate Governance - The company has conducted 3 shareholder meetings and 8 board meetings during the reporting period, focusing on enhancing governance and decision-making processes[109] - The company has published 42 announcements and completed its annual and quarterly reports, ensuring compliance with regulatory requirements[109] - The company held its first extraordinary general meeting on January 25, 2024, where the proposal to elect an independent director was approved[111] Dividend Policy - The company plans to distribute cash dividends of ¥4.10 per 10 shares, totaling approximately ¥497,596,611.93 based on the total share capital as of December 31, 2024[7] - The cash dividend represents 52.65% of the net profit attributable to ordinary shareholders, which is approximately 945.09 million RMB for the reporting period[137] Social Responsibility - The company made a total contribution of approximately 45.48 million RMB to public welfare projects, including 41.44 million RMB in cash donations[148] - Total investment in poverty alleviation and rural revitalization projects amounted to 945,000 CNY, benefiting 2,824 individuals through various initiatives[149] Risks and Challenges - The company faces risks from intensified market competition, particularly from emerging digital content platforms and self-media authors, which challenge traditional publishing models[104] - The company acknowledges the uncertainties in applying new technologies like AI and big data in publishing, which may pose challenges during implementation[106] - The company is addressing the risk of rising upstream costs, particularly in raw materials like paper and ink, which could impact profit margins[107] Shareholder Information - The company reported a total of 31,475 ordinary shareholders as of the end of the reporting period, an increase from 30,845 at the end of the previous month[3] - Hubei Changjiang Publishing Media Group Co., Ltd. holds 56.31% of the shares, totaling 683,374,204 shares[195] Financial Management - The company has entrusted cash asset management with a total amount of 1,165,000,000 RMB in bank wealth management products[174] - The company has also invested 950,000,000 RMB in broker wealth management products, with an outstanding balance of 600,000,000 RMB[174]

● 本次利润分配以实施权益分派股权登记日登记的总股本 为基数，具体日期将在权益分派实施公告中明确。 ● 在实施权益分派的股权登记日前公司总股本发生变动的， 拟维持每股分配金额不变，相应调整分配总额，并将另行公告具 体调整情况。 证券代码：600757 证券简称：长江传媒 公告编号：临 2025-009 长江出版传媒股份有限公司 2024 年度利润分配预案公告 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： ● 每股分配比例：每股派发现金红利人民币 0.41 元（含税）。 ● 本年度现金分红占 2024 年度归属于上市公司普通股股 东净利润的 52.65%。 ● 本次利润分配不会导致公司触及《上海证券交易所股票 上市规则》（以下简称"《股票上市规则》"）第 9.8.1 条第一款第 （八）项规定的可能被实施其他风险警示的情形。 一、利润分配方案内容 （一）利润分配方案的具体内容 经信永中和会计师事务所(特殊普通合伙)审计，截至2024年 12月31日，公司母公司报表中期末未分 配利润为人民币 676,093,696 ...

长江传媒（600757）公告，2024年营业收入为70.72亿元，同比增长4.64%。归属于上市公司股东的净利 润9.45亿元，同比下降6.96%。公司2024年度拟以实施权益分派股权登记日登记的总股本为基数，向公 司股东派发现金股利：每10股现金分红4.1元(含税)。 ...

Core Viewpoint - The article emphasizes that despite the volatility in the A-share market over the past four years, there has been a bull market for undervalued, high cash flow, and high dividend stocks, particularly among state-owned enterprises, with 30% of these stocks doubling in value [2][5]. Group 1: Market Performance - Over the past four years, 30% of state-owned enterprise dividend stocks have seen their prices more than double, with 90% reaching new highs since February 2021 [2][6]. - Specific sectors such as ports, highways, publishing, and construction have shown significant growth, with stocks like Tangshan Port increasing by 145% and maintaining a dividend yield of 4.77% [5][6]. Group 2: Investment Strategy - Investors are advised to focus on understanding their companies rather than trying to time the market, as this can lead to missed opportunities and costly mistakes [3][8]. - The article references Graham's perspective that many investors fail to profit because they chase market signals rather than focusing on the fundamentals of the companies they invest in [9][10]. Group 3: Company Analysis - The article highlights that companies with low valuations and strong balance sheets have been successfully identified by the market, leading to substantial price increases [5]. - In the publishing sector, companies like Phoenix Media and Shandong Publishing have also seen their earnings per share rise significantly, with dividend yields above 4% [6].

国浩律师（武汉）事务所 关于长江出版传媒股份有限公司 2025 年第一次临时股东大会的 法律意见书 湖北省武汉市洪山区欢乐大道一号宏泰大厦 21 楼 邮编：430077 The 21st floor, Hongtai Building, No. 1 Huanle Avenue, Hongshan District, Wuhan city, Hubei Province, China 电话/Tel: (+86)(027) 87301319 传真/Fax: (+86)(027) 87265677 网址/Website:http://www.grandall.com.cn 2025 年 3 月 国浩律师（武汉）事务所 法律意见书 国浩律师（武汉）事务所 关于长江出版传媒股份有限公司 2025 年第一次临时股东大会的 法律意见书 2025 鄂国浩法意 GHWH047 号 致：长江出版传媒股份有限公司 国浩律师（武汉）事务所（以下简称"本所"）担任长江出版传媒股份有限 公司（以下简称"公司"）之常年法律顾问，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"） 等 ...

证券代码：600757 证券简称：长江传媒 公告编号：2025-006 长江出版传媒股份有限公司 2025 年第一次临时股东大会决议公告 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： (一) 股东大会召开的时间：2025 年 3 月 20 日 (二) 股东大会召开的地点：湖北省武汉市雄楚大道 268 号湖北出版文化城 B 座 10 楼会议室 (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： 的表决方式召开，会议由公司董事长黄国斌主持。公司部分董事、监事和高级管 理人员出席了本次会议。会议符合《公司法》《上市公司股东大会规则》和《公 司章程》的规定。 (五) 公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 审议结果：通过 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 380 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 719,316,271 | | 3、出席会议的股东所持有表决权股份数占公 ...

长江出版传媒股份有限公司 2025 年第一次临时股东大会会议议程 长江出版传媒股份有限公司 2025 年第一次临时股东大会会议文件 二〇二五年三月·武汉 1 目 录 长江出版传媒股份有限公司 2025 年第一次临时股东大会会议议程 召开方式：本次股东大会采取现场投票与网络投票方式 现场会议召开时间：2025 年 3 月 20 日下午 14:30 股权登记日：2025 年 3 月 13 日 现场会议召开地点： 湖北省武汉市雄楚大道 268 号湖北出版文化城 B 座 10 楼会议室 会议内容： 1 审议《长江出版传媒股份有限公司关于部分募投项目结项 并将节余募集资金永久性补充流动资金的议案》 议案 1：长江出版传媒股份有限公司关于部分募投项目结项并将节余 募集资金永久性补充流动资金的议案 2 六、填写表决票，监票人监票，计票人计票 七、主持人宣布表决结果 八、主持人宣读会议决议 九、律师宣读法律意见 十、签署会议决议和会议记录 一、主持人宣布现场会议开始 二、主持人宣布现场到会的股东及股东代表，参加及列席会议的 人员及会议表决方式 三、推选计票人、监票人；主持人宣布计票人、监票人名单 四、审议议案 1、《长江出版 ...

国泰君安证券股份有限公司 关于长江出版传媒股份有限公司部分募投项目结项并将节余募集资 金永久性补充流动资金的核查意见 国泰君安证券股份有限公司（以下简称"国泰君安"或"保荐机构"）作为 长江出版传媒股份有限公司（以下简称"长江传媒"或"公司"）2012 年度非公 开发行 A 股股票的保荐机构，根据《证券发行上市保荐业务管理办法（2023 年 修订）》《上海证券交易所股票上市规则》《上市公司监管指引第 2 号——上市公 司募集资金管理和使用的监管要求》等有关法律法规和规范性文件的要求，对长 江传媒部分募集资金投资项目（以下简称"募投项目"）结项并将节余募集资金 永久补充流动资金事项进行了审慎核查，发表如下核查意见： 一、募集资金基本情况 经中国证券监督管理委员会证监许可〔2013〕331 号文核准，由主承销商国 泰君安证券股份有限公司采用非公开发行方式，向特定对象非公开发行人民币普 通股（A 股）股票 173,965,824 股，发行价为每股人民币 6.73 元，共计募集资金 117,079 万元，扣除承销和保荐费用 2,680 万元后的募集资金为 114,399 万元，已 由主承销商国泰君安证券股份有限公司于 ...

证券代码：600757 证券简称：长江传媒 公告编号：临 2025-003 长江出版传媒股份有限公司 关于 2025 年度"提质增效重回报"行动方案的公告 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。 长江出版传媒股份有限公司（以下简称"公司"）为深入贯彻党 的二十大、二十届三中全会和中央金融工作会议精神，认真落实国务 院《关于进一步提高上市公司质量的意见》要求，积极响应上海证券 交易所《关于开展沪市公司"提质增效重回报"专项行动的倡议》， 深入践行以"投资者为本"的理念，持续提升公司经营质量、优化治 理结构，进一步推动公司高质量发展，增强投资者回报、提升投资者 获得感，公司结合行业发展情况和自身发展战略，基于对公司发展前 景的信心和对公司价值的认可，制定公司2025年度"提质增效重回报" 专项行动方案。公司已于2025年3月3日召开第六届董事会第五十次会 议，以9票同意，0票反对，0票弃权审议通过了《关于公司2025年度"提 质增效重回报"行动方案的议案》，具体方案如下： 一、聚焦主责主业，提升高质量发展质效 公司以习近平 ...

● 本次拟结项的募集资金投资项目：实体书店升级改造项目 证券代码：600757 证券简称：长江传媒 公告编号：临 2025-004 长江出版传媒股份有限公司 关于部分募投项目结项并将节余募集资金 永久性补充流动资金的公告 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： 1 一、募集资金基本情况 经中国证券监督管理委员会证监许可〔2013〕331 号文核准，由 主承销商国泰君安证券股份有限公司采用非公开发行方式，向特定对 象非公开发行人民币普通股（A 股）股票 173,965,824 股，发行价为 每股人民币 6.73 元，共计募集资金 117,079 万元，扣除承销和保荐 费用 2,680 万元后的募集资金为 114,399 万元，已由主承销商国泰君 安证券股份有限公司于 2013 年 9 月 4 日汇入公司募集资金监管账户。 另减除申报会计师费、律师费等与发行权益性证券直接相关的新增外 部费用 280.48 万元后，公司募集资金净额为 114,118.52 万元。上述 募集资金到位情况业经天健会计师事务所（特 ...