证券简称：*ST大晟 证券代码：600892 公告编号：临2025-039 问题一：第四季度，公司在经营业绩提升方面有没有既定的计划 安排？ 大晟时代文化投资股份有限公司 关于2025年半年度业绩说明会召开情况的公告 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。 大晟时代文化投资股份有限公司（以下简称"公司"）2025 年半 年度业绩说明会于 2025 年 9 月 26 日下午 15:00-16:00 通过"价值在线" （www.ir-online.cn）以网络文字互动方式召开。针对公司 2025 年半年 度业绩和经营情况等事项与投资者进行互动交流和沟通，并在信息披 露允许的范围内就投资者关注的问题与投资者进行了充分交流。现将 本次业绩说明会有关事项公告如下： 一、本次业绩说明会召开情况 2025 年 9 月 20 日，公司披露了《关于召开 2025 年半年度业绩说 明会的公告》（公告编号：临 2025-038），公告具体内容详见《中国 证券报》《上海证券报》《证券时报》《证券日报》和上海证券交易 所网站（www.sse.c ...

Market Overview - The Shanghai Composite Index closed at 3853.44 points, above the annual line, with a gain of 0.83% [1] - The total trading volume of A-shares reached 1,894.457 billion yuan [1] Stocks Breaking Annual Line - A total of 153 A-shares have surpassed the annual line today, with notable stocks including Yunnan City Investment, Maiwei Co., and Dongsoft Zhaibo, showing significant deviation rates of 7.64%, 7.27%, and 5.57% respectively [1] - Stocks with smaller deviation rates that have just crossed the annual line include Jiuyuan Yinhai, Jida Communication, and Shanghai Jiubai [1] Top Stocks by Deviation Rate - Yunnan City Investment (600239) reported a daily increase of 10.16% with a deviation rate of 7.64% [1] - Maiwei Co. (300751) saw an 8.63% increase and a deviation rate of 7.27% [1] - Dongsoft Zhaibo (300183) increased by 5.91% with a deviation rate of 5.57% [1] Additional Notable Stocks - Nanjing Public Utilities (000421) increased by 5.03% with a deviation rate of 4.79% [1] - Suzhou High-tech (600736) rose by 4.86% with a deviation rate of 4.69% [1] - Other stocks with notable performance include Shunyu Co. (301519) and Leshi Xin (688631) with increases of 5.40% and 6.79% respectively [1]

Market Overview - On September 22, the gaming sector rose by 0.16% compared to the previous trading day, with ST Huatuo leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Individual Stock Performance - ST Huatuo (002602) closed at 19.81, with a gain of 4.98% and a trading volume of 1.495 million shares, amounting to a transaction value of 2.924 billion [1] - Other notable gainers included *ST Dazheng (600892) with a 4.08% increase and ST Kaiwen (002425) with a 3.33% increase [1] - Conversely, 37 Interactive Entertainment (002555) saw a decline of 5.52%, closing at 22.24, with a trading volume of 1.5908 million shares and a transaction value of 3.588 billion [2] Capital Flow Analysis - The gaming sector experienced a net outflow of 1.484 billion from institutional investors, while retail investors saw a net inflow of 1.582 billion [2][3] - ST Huatuo had a net inflow of 2.26 billion from institutional investors, while retail investors had a net outflow of 960.133 million [3] ETF Performance - The gaming ETF (product code: 159869) tracking the China Securities Animation and Gaming Index increased by 3.64% over the past five days, with a net inflow of 17.632 million [5] - The food and beverage ETF (product code: 515170) decreased by 2.31%, with a net outflow of 24.043 million [5]

证券简称：*ST大晟 证券代码：600892 公告编号：临2025-038 大晟时代文化投资股份有限公司 关于召开2025年半年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： （ dswh@600892.com.cn ） 或 访 问 网 址 https://eseb.cn/1rGXRZb32OA 或使用微信扫描下方小程序码 进行会前提问，公司将在说明会上就投资者普遍关心的问题 进行解答。 一、说明会类型 大晟时代文化投资股份有限公司（以下简称"公司"）已于 2025 年 8 月 30 日在上海证券交易所网站（www.sse.com.cn）披露了《2025 1 会议召开时间：2025 年 9 月 26 日（星期五）15:00-16:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络文字互动 会议问题征集：投资者可于 2025 年 9 月 26 日前，将需要了 解 的 情 况 和 关 注 的 问 题 预 先 发 送 至 公 司 邮 箱 年半年度报告》及《2025 ...

Market Overview - On September 18, the gaming sector declined by 1.56%, with Xinghui Entertainment leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Individual Stock Performance - Xinghui Entertainment (300043) closed at 7.17, down 6.88%, with a trading volume of 2.0662 million shares and a turnover of 1.518 billion yuan [2] - Other notable declines include: - Shenzhou Taiyue (300002) down 4.95% to 14.20 with a turnover of 1.763 billion yuan [2] - Bingchuan Network (300533) down 4.55% to 40.52 with a turnover of 994 million yuan [2] - Conversely, Xunyou Technology (300467) saw an increase of 5.61%, closing at 27.10 with a turnover of 927 million yuan [1] Capital Flow Analysis - The gaming sector experienced a net outflow of 1.72 billion yuan from major funds, while retail investors contributed a net inflow of 1.439 billion yuan [2] - Speculative funds saw a net inflow of 281 million yuan into the gaming sector [2]

Group 1 - The core point of the article is that *ST Dazheng (600892.SH) has received a notice from shareholder Xu Jinguang regarding a planned reduction of shares due to personal financial needs [1] - Xu Jinguang intends to reduce a total of up to 6.215 million shares, which represents no more than 1.11% of the company's total share capital [1] - The reduction will be executed through centralized bidding and block trading, with up to 5.5946 million shares (1.00%) to be sold via centralized bidding and up to 620,400 shares (0.11%) through block trading [1]

大股东持股的基本情况：股东许锦光持有大晟时代文化投资股份有限 公司（以下简称"公司"或"大晟文化"）股份 34,188,164 股，约占公司总 股本的 6.11%。 减持计划的主要内容： 证券代码：600892 证券简称：*ST 大晟 公告编号：临 2025-037 大晟时代文化投资股份有限公司 持股 5%以上股东减持股份计划公告 本公司董事会、全体董事及相关股东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： 公司近日收到股东许锦光发来的《减持告知函》，获悉其因个人资金需 求，拟通过集中竞价、大宗交易的方式减持大晟文化股份，减持数量合计 不超过 6,215,000 股，减持比例不超过公司总股本的 1.11%。其中，集中竞 价减持不超过 5,594,600 股（1.00%），大宗交易减持不超过 620,400 股 （0.11%），减持价格根据市场价格确定。 | 股东名称 | 许锦光 | | | | --- | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 | □是 | √否 | | | 直接持股 ...

Group 1 - The core point of the article is that *ST Dazheng announced a share reduction plan by shareholder Xu Jinguang due to personal financial needs, which may impact the company's stock performance [1] - Xu Jinguang holds approximately 34.19 million shares, accounting for 6.11% of the total share capital of *ST Dazheng [1] - The planned reduction includes a total of up to 6.22 million shares, representing no more than 1.11% of the company's total share capital, with specific limits on the methods of reduction [1] Group 2 - The revenue composition for *ST Dazheng in 2024 is projected to be 92.31% from online games, 7.29% from film and television, and 0.4% from other sources [1] - As of the report, the market capitalization of *ST Dazheng is 2 billion yuan [1]

Core Viewpoint - *ST Dazheng (600892) reported a significant increase in revenue but continued to incur losses, indicating challenges in profitability despite a 39.11% year-on-year increase in total operating revenue to 1.09 billion yuan [1] Financial Performance - Total operating revenue for the first half of 2025 reached 1.09 billion yuan, up 39.11% from 2024 [1] - Net profit attributable to shareholders was -33.73 million yuan, a decline of 116.84% compared to the previous year [1] - In Q2 2025, total operating revenue was 52.89 million yuan, reflecting a 40.65% increase year-on-year, while net profit attributable to shareholders was -23.59 million yuan, down 241.46% [1] Profitability Metrics - Gross margin decreased to 69.95%, down 23.46% year-on-year [1] - Net margin was -36.43%, a drop of 92.37% compared to the previous year [1] - Total selling, administrative, and financial expenses amounted to 88.49 million yuan, accounting for 81.35% of revenue, an increase of 9.15% year-on-year [1] Balance Sheet Indicators - Cash and cash equivalents decreased by 30.50% to 43.90 million yuan [1] - Accounts receivable increased by 235.86% to 34.05 million yuan [1] - Interest-bearing liabilities rose by 76.56% to 24.87 million yuan [1] Shareholder Metrics - Earnings per share was -0.06 yuan, a 100% decrease year-on-year [1] - Net asset value per share fell to 0.08 yuan, down 65.88% from the previous year [1] - Operating cash flow per share was -0.13 yuan, a decline of 305.11% year-on-year [1] Historical Performance - The company has a median ROIC of -6.72% over the past decade, indicating poor investment returns [3] - The company has reported losses in 15 out of 38 annual reports since its listing, suggesting a challenging financial history [3] Business Model Insights - The company's performance relies heavily on research and marketing efforts, necessitating a deeper analysis of these drivers [3] - Cash flow concerns are highlighted, with a cash to current liabilities ratio of only 18.03% [3]

Group 1 - The core point of the article highlights that *ST Dazheng has experienced a significant decrease in the number of shareholders, with a reduction of 13,842 accounts, representing a decline of 44.22% from March 31, 2025, to June 30, 2025 [1][2] - As of June 30, 2025, the average number of shares held per shareholder increased from 17,900 shares to 32,000 shares, while the average market value of shares held per shareholder was 98,700 yuan, which is below the industry average [1][2] - The stock price of *ST Dazheng saw a slight decline of 0.65% during the period from March 31, 2025, to June 30, 2025, coinciding with the significant drop in the number of shareholders [1][2] Group 2 - The data indicates that from March 31, 2025, to June 30, 2025, the net outflow of main funds from *ST Dazheng was 119 million yuan, while retail investors contributed a net inflow of 115 million yuan [2] - The average number of shareholders in the gaming industry is 76,600, which is significantly higher than *ST Dazheng's 17,458 shareholders [1][2] - The average market value of shares held by shareholders in the gaming industry is 245,300 yuan, which is substantially higher than *ST Dazheng's average of 98,700 yuan [1][2]