Core Viewpoint - The 2025 Yangtze River Delta High-tech Audiovisual Expo aims to promote the integration and high-quality development of the audiovisual industry in the region, showcasing new technologies and content to inject new momentum into the industry [1][3][5]. Group 1: Event Overview - The expo will take place from September 26 to 28, 2025, at the Nanjing International Exhibition Center, covering a total exhibition area of 15,000 square meters [1][3]. - The event is organized by the Jiangsu Provincial Radio and Television Administration, with participation from broadcasting departments of Shanghai, Zhejiang, and Anhui [3]. - Over 200 participating organizations will showcase new technologies, equipment, content, and services in the audiovisual field [3][5]. Group 2: Key Features and Innovations - The expo will feature the first release of the "Yangtze River Delta Audiovisual High-Quality Development Report," summarizing recent achievements and proposing forward-looking strategies [5]. - Seven cutting-edge technology scenarios will be displayed, including 4K ultra-high definition, XR virtual production, AIGC, and naked-eye 3D [5][6]. - The event will introduce an innovative "boundaryless opening ceremony" concept, creating an immersive atmosphere by breaking the boundaries between the stage and exhibition areas [6]. Group 3: Cultural and Creative Contributions - The expo will highlight rich and diverse projects, leveraging national cultural digitalization strategies to rejuvenate cultural heritage through AI restoration and holographic presentation [6][8]. - Various companies will present original works and significant historical events using advanced technologies such as 4K ultra-high definition and virtual studios [8][10]. Group 4: Engagement and Interaction - The event will feature interactive experiences, allowing attendees to engage with technology in a fun and immersive way, such as VR experiences and AI photo opportunities [8][10]. - Three major themed activities will be introduced, including a youth audiovisual competition showcasing nearly 200 new works from top universities [10]. Group 5: Sustainability and Future Outlook - The expo will adhere to principles of green, frugal, and clean exhibition practices, promoting recyclable booths and digitalized event management [10].

Core Viewpoint - Jiangsu Cable experienced a decline in stock price, with a current trading price of 3.63 yuan per share and a market capitalization of 18.153 billion yuan, reflecting a 2.16% drop on September 19 [1] Financial Performance - For the first half of 2025, Jiangsu Cable reported operating revenue of 4.144 billion yuan, representing a year-on-year growth of 4.25%, and a net profit attributable to shareholders of 203 million yuan, which is a 35.24% increase compared to the previous year [2] Shareholder Information - As of August 29, the number of shareholders for Jiangsu Cable was 92,300, a decrease of 7.25% from the previous period, while the average circulating shares per person increased by 7.82% to 54,178 shares [2] - Since its A-share listing, Jiangsu Cable has distributed a total of 2.075 billion yuan in dividends, with 315 million yuan distributed over the past three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 48.3645 million shares, an increase of 7.6982 million shares from the previous period [3]

Core Viewpoint - Cybersecurity is a crucial foundation for national security and a prerequisite for the high-quality development of the digital economy, with Jiangsu Cable (600959) implementing a comprehensive cybersecurity strategy to support the construction of a digital Jiangsu and the network power strategy [1] Group 1: Cybersecurity Training - Jiangsu Cable emphasizes the importance of cybersecurity as a national security cornerstone and has established a multi-layered defense system combining technical, human, and institutional measures [1] - The company focuses on practical training and exercises to enhance capabilities and build a robust cybersecurity framework [1] Group 2: Practical Drills - From May to August 2025, Jiangsu Cable conducted extensive cybersecurity drills, identifying and rectifying over 370 risk vulnerabilities, significantly reducing exposure to potential attacks [2] - The company successfully identified and blocked over 22,000 malicious IP addresses and handled more than 12,000 abnormal access requests during the drills, enhancing its cybersecurity response capabilities [2] Group 3: Security Assurance - During critical events from August to September 2025, Jiangsu Cable prioritized cybersecurity, implementing a comprehensive monitoring and response plan to ensure zero incidents [3] - The company managed to block 136 malicious IP addresses and 7 malicious domains, ensuring uninterrupted transmission and data security [3] Group 4: Foundation Strengthening - In 2025, Jiangsu Cable focused on enhancing its cybersecurity infrastructure, identifying and rectifying over 1,800 high-risk vulnerabilities and weak passwords through a combination of automated scanning and manual penetration testing [4][5] - The company implemented strict data security measures, including encryption and access control, to protect sensitive information and ensure data recoverability [5] Group 5: Collaborative Governance - Jiangsu Cable promotes a collaborative cybersecurity governance model, revising key policies and ensuring comprehensive coverage across all levels of management [6] - The company actively participates in provincial cybersecurity initiatives and public awareness campaigns to enhance user safety and fraud prevention [6] Group 6: Future Commitment - Jiangsu Cable is committed to continuous innovation in cybersecurity technology and improving its protective measures to support the high-quality development of the digital economy [7]

Market Overview - The television broadcasting sector experienced a decline of 2.17% on September 18, with Jishi Media 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 - Jishi Media (601929) closed at 5.02, down 7.21% with a trading volume of 6.0892 million shares and a turnover of 3.213 billion yuan [1] - ST Guangwang (600831) closed at 4.70, down 5.05% with a trading volume of 127,300 shares and a turnover of 61.36 million yuan [1] - Hubei Broadcasting (000665) closed at 5.76, down 2.54% with a trading volume of 431,900 shares and a turnover of 252 million yuan [1] Capital Flow Analysis - The television broadcasting sector saw a net outflow of 547 million yuan from institutional investors, while retail investors had a net inflow of 555 million yuan [1] - The table of capital flow indicates that major stocks like Dongfang Mingzhu (600637) and Jiangsu Cable (600959) had mixed capital inflows and outflows [2] Detailed Capital Flow for Selected Stocks - Dongfang Mingzhu (600637) had a net inflow of 7.7881 million yuan from institutional investors, while retail investors saw a net outflow of 6.9660 million yuan [2] - Jiangsu Cable (600959) recorded a net inflow of 7.2917 million yuan from institutional investors, with a net outflow of 16.2195 million yuan from retail investors [2] - ST Guangwang (600831) experienced a significant net outflow of 12.0973 million yuan from institutional investors, while retail investors had a net inflow of 6.6598 million yuan [2]

Company Overview - Jiangsu Cable is located in Nanjing, Jiangsu Province, and was established on July 10, 2008, with its listing date on April 28, 2015 [1] - The company primarily engages in the construction and operation of cable networks, transmission of broadcast television programs, broadband data services, and development of value-added digital television services, with cable television services accounting for 100% of its main business revenue [1] Financial Performance - For the first half of 2025, Jiangsu Cable achieved operating revenue of 4.144 billion yuan, representing a year-on-year growth of 4.25%, and a net profit attributable to shareholders of 203 million yuan, reflecting a year-on-year increase of 35.24% [2] - Since its A-share listing, Jiangsu Cable has distributed a total of 2.075 billion yuan in dividends, with 315 million yuan distributed over the past three years [3] Stock Market Activity - As of September 18, Jiangsu Cable's stock price increased by 2.14% to 3.82 yuan per share, with a trading volume of 120 million yuan and a turnover rate of 0.64%, resulting in a total market capitalization of 19.103 billion yuan [1] - The stock has seen a year-to-date increase of 14.78%, with a 1.06% rise over the last five trading days, a 2.69% increase over the last 20 days, and a 12.42% rise over the last 60 days [1] Shareholder Structure - As of August 29, the number of shareholders for Jiangsu Cable was 92,300, a decrease of 7.25% from the previous period, with an average of 54,178 circulating shares per shareholder, an increase of 7.82% [2] - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited as the third-largest shareholder with 48.3645 million shares, an increase of 7.6982 million shares from the previous period, and Southern CSI 500 ETF as the fourth-largest shareholder with 37.2921 million shares, an increase of 5.1139 million shares [3]

表决结果：同意 9 票，反对 0 票，弃权 0 票。 特此公告。 江苏省广电有线信息网络股份有限公司 第六届董事会第十一次会议决议公告 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。 江苏省广电有线信息网络股份有限公司（以下简称"公司"）于 2025 年 9 月 15 日以通讯方式在南京市召开第六届董事会第十一次会议。会议应参与表决 董事 9 名，实参与表决董事 9 名，本次会议的召开符合《江苏省广电有线信息网 络股份有限公司章程》及《江苏省广电有线信息网络股份有限公司董事会议事规 则》的规定。会议以记名投票方式审议通过以下决议： 一、审议并通过了《江苏有线关于全资子公司建设"省政务云"项目的议案》。 为满足省政务云资源服务需求，公司全资子公司江苏有线数据网络有限责任 公司拟开展省政务云建设项目。项目内容包括计算资源、专用容器服务、GPU 服 务器的 AI 计算能力、国产化数据库和操作系统等。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 二、审议并通过了《关于修订<江苏省广电有线信息网络股份有限公司总经 理工作细则> ...

Market Overview - The television broadcasting sector increased by 1.61% compared to the previous trading day, with Jishi Media leading the gains [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] Individual Stock Performance - Jishi Media (601929) closed at 6.11, up 5.89%, with a trading volume of 6.35 million shares and a turnover of 3.8 billion yuan [1] - Gehua Cable (600037) closed at 8.51, up 2.78%, with a trading volume of 266,600 shares and a turnover of 226 million yuan [1] - Tianwei Video (002238) closed at 8.58, up 1.18%, with a trading volume of 60,700 shares and a turnover of 51.89 million yuan [1] - Hubei Broadcasting (000665) closed at 6.13, up 0.82%, with a trading volume of 255,400 shares and a turnover of 156 million yuan [1] - Other notable stocks include Dongfang Mingzhu (600637) and Jiangsu Cable (600959), which saw minor increases of 0.35% and 0.26% respectively [1] Capital Flow Analysis - The television broadcasting sector experienced a net outflow of 24.26 million yuan from institutional investors, while retail investors saw a net inflow of 21.2 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Detailed Capital Flow for Selected Stocks - Hubei Broadcasting (000665) had a net inflow of 25.62 million yuan from institutional investors, while retail investors had a net outflow of 11.75 million yuan [3] - Jishi Media (601929) saw a net inflow of 21.80 million yuan from retail investors, despite a significant outflow of 169 million yuan from institutional investors [3] - Guangxi Broadcasting (600936) had a net inflow of 8.35 million yuan from institutional investors, while retail investors experienced a net outflow of 8.37 million yuan [3]

Market Overview - The television broadcasting sector increased by 0.35% compared to the previous trading day, with Oriental Pearl leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up by 1.65%, while the Shenzhen Component Index closed at 12979.89, up by 3.36% [1] Individual Stock Performance - Oriental Pearl (600637) closed at 69.8, rising by 1.88% with a trading volume of 837,900 shares and a transaction value of 717 million yuan [1] - Other notable stocks include: - Haoliang Co. (301262) at 25.63, up by 1.10% [1] - Guiguang Network (600996) at 8.28, up by 0.61% [1] - Tianwei Video (002238) at 8.48, up by 0.59% [1] - Wireless Media (301551) at 49.00, up by 0.51% [1] Capital Flow Analysis - The television broadcasting sector experienced a net outflow of 164 million yuan from institutional investors and 122 million yuan from speculative funds, while retail investors saw a net inflow of 286 million yuan [2] - The capital flow for individual stocks shows: - Oriental Pearl had a net inflow of 43.39 million yuan from institutional investors, but a net outflow of 25.59 million yuan from speculative funds [3] - New Media Co. (300770) had a net inflow of 1.88 million yuan from institutional investors, with a significant outflow from speculative funds [3] - ST Guangwang (600831) faced a net outflow of 6.43 million yuan from institutional investors [3]

Market Overview - The television broadcasting sector increased by 2.1% compared to the previous trading day, with Jiangsu Cable leading the gains [1] - The Shanghai Composite Index closed at 3826.84, up 0.38%, while the Shenzhen Component Index closed at 12666.84, up 0.61% [1] Individual Stock Performance - Jiangsu Cable (600959) closed at 3.76, up 5.62% with a trading volume of 1.67 million shares and a transaction value of 6.33 billion [1] - Gehua Cable (600037) closed at 9.10, up 3.88% with a trading volume of 312,700 shares and a transaction value of 282 million [1] - Oriental Pearl (600637) closed at 8.61, up 2.62% with a trading volume of 441,600 shares and a transaction value of 375 million [1] - Other notable stocks include Liujin Technology (834021) at 7.82 (+2.49%), and Electric Broadcasting Media (000917) at 7.70 (+1.85%) [1] Capital Flow Analysis - The television broadcasting sector experienced a net outflow of 378 million from institutional investors, while retail investors saw a net inflow of 377 million [1] - The capital flow for individual stocks shows that Oriental Pearl had a net inflow of 37.62 million from institutional investors, but a net outflow of 28.36 million from retail investors [2] - Jiangsu Cable had a net inflow of 30.52 million from institutional investors, with a net outflow of 36.44 million from retail investors [2]

Core Insights - Jiangsu Cable's subsidiary, Ruihui Capital, has completed a strategic investment in Honghu Wanlian (Jiangsu) Technology Development Co., Ltd, marking the company's first round of market-oriented financing [1] - Other investors in this round include Jiangsu Gaotou and Yida Capital, indicating strong interest from various investment entities [1] - Honghu Wanlian was established in 2022 by Ruijun Power, Huawei Hubble, and Wuxi New Investment Jinshi, focusing on the research and industrialization of the open-source Harmony operating system [1] - The core product, SwanLinkOS, has achieved multi-instruction set cross-architecture adaptation and is widely applied in key infrastructure sectors such as smart mining, transportation, public security, and education [1]