Section I Definitions This section provides definitions of common terms used in the report, including company name, controlling shareholder, actual controller, major subsidiaries, and associates, clarifying the reporting period to enhance understanding [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter provides definitions of common terms used in the report, including company name, controlling shareholder, actual controller, major subsidiaries, and associates, clarifying the reporting period to enhance understanding - Guiguang Network, the Company, or this Company refers to Guizhou Broadcasting and Television Information Network Co., Ltd[13](index=13&type=chunk) - The Propaganda Department of Guizhou Provincial Committee is the actual controller of the Company[13](index=13&type=chunk) - The reporting period refers to January 1, 2025, to June 30, 2025[13](index=13&type=chunk) Section II Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, changes in fundamental situation, information disclosure, stock summary, and key financial data and indicators for the reporting period [I. Company Information](index=5&type=section&id=I.%20Company%20Information) This section introduces the basic information of Guizhou Broadcasting and Television Information Network Co., Ltd., including its Chinese name, abbreviation, foreign name, and legal representative - The Company's Chinese name is Guizhou Broadcasting and Television Information Network Co., Ltd., abbreviated as **Guiguang Network**[15](index=15&type=chunk) - The Company's legal representative is Chen Yu[15](index=15&type=chunk) [II. Contact Person and Contact Information](index=5&type=section&id=II.%20Contact%20Person%20and%20Contact%20Information) This section provides contact details for the Company's Board Secretary and Securities Affairs Representative, including names, addresses, phone numbers, faxes, and email addresses, for investor communication - The Board Secretary is Huang Zongwen, and the Securities Affairs Representative is Zhu Xiaoju[16](index=16&type=chunk) - The Company's contact address is No. 36 Jinyang South Road, Guanshanhu District, Guiyang City, Guizhou Province[16](index=16&type=chunk) [III. Brief Introduction to Changes in Basic Information](index=5&type=section&id=III.%20Brief%20Introduction%20to%20Changes%20in%20Basic%20Information) This section details the Company's registered and office addresses, noting that historical changes to the registered address are not applicable - The Company's registered and office addresses are both No. 36 Jinyang South Road, Guanshanhu District, Guiyang City, Guizhou Province[17](index=17&type=chunk) [IV. Brief Introduction to Changes in Information Disclosure and Document Storage Locations](index=5&type=section&id=IV.%20Brief%20Introduction%20to%20Changes%20in%20Information%20Disclosure%20and%20Document%20Storage%20Locations) This section discloses the Company's designated information disclosure newspaper, the website address for semi-annual reports, and the location where reports are kept - The Company's selected information disclosure newspaper is "Shanghai Securities News"[18](index=18&type=chunk) - The website address for publishing semi-annual reports is the Shanghai Stock Exchange (www.sse.com.cn)[18](index=18&type=chunk) [V. Company Stock Summary](index=5&type=section&id=V.%20Company%20Stock%20Summary) This section provides the Company's stock listing information, including stock type, listing exchange, stock abbreviation, and stock code - The Company's stock is A-shares, listed on the Shanghai Stock Exchange, with stock abbreviation **Guiguang Network** and stock code **600996**[19](index=19&type=chunk) [VII. Key Accounting Data and Financial Indicators](index=6&type=section&id=VII.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section presents the Company's key accounting data and financial indicators for the first half of 2025, showing significant year-on-year declines in operating revenue and net profit, a substantial decrease in net cash flow from operating activities, and further deterioration in return on net assets Key Accounting Data for H1 2025 | Key Accounting Data | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 616,220,804.14 Yuan | 889,280,629.19 Yuan | -30.71 | | Total Profit | -579,284,244.82 Yuan | -439,961,385.57 Yuan | -31.67 | | Net Profit Attributable to Shareholders of Listed Company | -562,252,749.23 Yuan | -419,262,852.78 Yuan | -34.11 | | Net Cash Flow from Operating Activities | 59,725,666.00 Yuan | 121,896,724.04 Yuan | -51.00 | | Net Assets Attributable to Shareholders of Listed Company | 2,592,788,619.74 Yuan | 2,986,703,298.73 Yuan | -13.19 | | Total Assets | 15,503,135,797.04 Yuan | 16,033,749,053.74 Yuan | -3.31 | Key Financial Indicators for H1 2025 | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/share) | -0.45 | -0.35 | -28.57 | | Diluted Earnings Per Share (Yuan/share) | -0.45 | -0.33 | -36.36 | | Basic Earnings Per Share Excluding Non-recurring Gains and Losses (Yuan/share) | -0.48 | -0.41 | -17.07 | | Weighted Average Return on Net Assets (%) | -19.96 | -11.14 | decreased by 8.82 percentage points | | Weighted Average Return on Net Assets Excluding Non-recurring Gains and Losses (%) | -21.18 | -13.04 | decreased by 8.14 percentage points | [IX. Non-recurring Gains and Losses Items and Amounts](index=6&type=section&id=IX.%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section lists the Company's non-recurring gains and losses items and their amounts for the first half of 2025, totaling **34.41 million Yuan**, primarily comprising government subsidies, debt restructuring gains/losses, and other non-operating income/expenses Non-recurring Gains and Losses Items for H1 2025 | Non-recurring Gains and Losses Item | Amount (Yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | 185,899.78 | | Government subsidies recognized in current profit or loss | 24,216,563.43 | | Reversal of impairment provisions for accounts receivable subject to separate impairment testing | 3,843,779.57 | | Gains and losses from debt restructuring | 1,984,539.37 | | Other non-operating income and expenses apart from the above | 6,566,735.00 | | Other gains and losses items that meet the definition of non-recurring gains and losses | -480,265.38 | | Less: Income tax impact | 54,694.64 | | Impact on minority interests (after tax) | 1,850,098.91 | | Total | 34,412,458.22 | Section III Management Discussion and Analysis This section discusses the company's industry, main business operations, core competencies, key operating results, and other significant disclosures, including financial performance, asset and liability status, investment, and major risks [I. Explanation of the Company's Industry and Main Business Operations during the Reporting Period](index=8&type=section&id=I.%20Explanation%20of%20the%20Company's%20Industry%20and%20Main%20Business%20Operations%20during%20the%20Reporting%20Period) The Company operates in "Telecommunications, Radio, Television, and Satellite Transmission Services," with core businesses including broadcast TV reception, digital TV value-added services, data services, and 5G, facing industry downturns while actively developing new ventures like cultural tourism and smart retail - The Company's industry is "I63 Telecommunications, Radio, Television, and Satellite Transmission Services"[26](index=26&type=chunk) - Main businesses include broadcast television program reception services, digital television value-added services, data services, cable television-related engineering and installation, program transmission, terminal sales, and broadcast 5G services[26](index=26&type=chunk) - The Company actively expands into emerging business formats, including cultural tourism integration projects (Guizhou Long March Cultural Digital Art Museum "Red Ribbon" achieved double growth in visitors and revenue), product sales under the home appliance trade-in policy, innovative "Xijiu + Village BA/Village Super" IP co-branded products, and promotes new retail through online platforms and live streaming[28](index=28&type=chunk) [II. Discussion and Analysis of Operations](index=8&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) During the reporting period, the Company focused on integrated information services, accelerating development in cultural tourism, technology, and industry services, achieving **616 million Yuan** in operating revenue and a net loss of **562 million Yuan** for the first half of the year - The Company consolidates its core responsibility of integrated information services and accelerates the development of its three functional business segments: cultural tourism, technology, and industry services[29](index=29&type=chunk) - The "Red Ribbon" project received nearly **500,000 visitors** in the first half of the year, demonstrating strong vitality and broad prospects[29](index=29&type=chunk) Key Operating Data for H1 2025 | Indicator | Amount | | :--- | :--- | | Operating Revenue | 616 million Yuan | | Net Profit Attributable to Shareholders of Listed Company | -562 million Yuan | | Total Assets | 15.5 billion Yuan | [III. Analysis of Core Competencies during the Reporting Period](index=8&type=section&id=III.%20Analysis%20of%20Core%20Competencies%20during%20the%20Reporting%20Period) The Company's core competencies span network, technology, marketing, qualifications, and resources, including a provincial optical fiber network, integrated business capabilities, **46 patents**, **75 software copyrights**, exclusive operating rights, and enhanced capabilities through asset restructuring - Network Advantage: Guizhou Province has taken the lead in achieving comprehensive integration of a single provincial network, forming a large-bandwidth, high-capacity, full-service integrated network system covering wired and wireless, broadband and narrowband, and broadcast 5G[30](index=30&type=chunk) - Technological Advantage: Possesses exclusive or high-quality television content resources, integrates gigabit broadband, broadcast 5G, and diverse smart home/industry businesses, having accumulated **46 patents** and **75 software copyrights**[30](index=30&type=chunk) - Qualification Advantage: The sole cable television network construction and operation entity in Guizhou Province, holding broadcast 5G 192 mobile number segment and fixed-line business operation authorizations[31](index=31&type=chunk) [IV. Key Operating Performance during the Reporting Period](index=9&type=section&id=IV.%20Key%20Operating%20Performance%20during%20the%20Reporting%20Period) This section analyzes the Company's key operating performance, including financial statement item changes, asset and liability status, investment, and major subsidiaries, noting declines in revenue and profit, shifts in asset-liability structure, and the negative impact of some subsidiaries' performance [(1) Analysis of Main Business Operations](index=9&type=section&id=(1)%20Analysis%20of%20Main%20Business%20Operations) Main business analysis reveals year-on-year declines in operating revenue and cost, primarily due to reduced engineering, basic reception, and data services, while sales expenses increased due to employee incentives, and financial expenses rose from higher interest Analysis of Changes in Financial Statement Items | Item | Current Period (Jan-Jun) | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 616,220,804.14 | 889,280,629.19 | -30.71 | | Operating Cost | 716,976,829.55 | 948,457,472.98 | -24.41 | | Selling Expenses | 49,783,478.29 | 44,699,406.53 | 11.37 | | Administrative Expenses | 108,639,415.93 | 137,711,158.45 | -21.11 | | Financial Expenses | 174,122,950.82 | 154,375,262.24 | 12.79 | | Research and Development Expenses | 1,428,017.52 | 5,624,679.48 | -74.61 | | Net Cash Flow from Operating Activities | 59,725,666.00 | 121,896,724.04 | -51.00 | | Net Cash Flow from Investing Activities | -99,122,880.04 | -406,212,884.15 | 75.60 | | Net Cash Flow from Financing Activities | 811,897.09 | -64,526,227.68 | 101.26 | - Reason for change in operating revenue: Primarily due to decreased revenue from engineering and installation, basic reception services, and data services[33](index=33&type=chunk) - Reason for change in selling expenses: Primarily due to increased employee marketing incentives to boost frontline staff's revenue generation enthusiasm[33](index=33&type=chunk) [(3) Analysis of Assets and Liabilities](index=9&type=section&id=(3)%20Analysis%20of%20Assets%20and%20Liabilities) The Company's asset and liability structure saw multiple changes at the end of the reporting period, with decreases in monetary funds and certain liabilities, while inventory, other payables, and current portion of non-current liabilities increased, mainly due to construction payments, inter-company borrowings, and reclassification Changes in Assets and Liabilities | Item Name | Current Period End Amount | Proportion of Total Assets at Period End (%) | Prior Year End Amount | Proportion of Total Assets at Prior Year End (%) | Change from Prior Year End (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 129,156,574.69 Yuan | 0.83 | 150,738,600.43 Yuan | 0.94 | -14.32 | Primarily due to payments for construction costs and equipment procurement | | Inventory | 142,886,131.13 Yuan | 0.92 | 117,046,596.57 Yuan | 0.73 | 22.08 | Primarily due to increased contract performance costs | | Current Portion of Non-current Assets | 322,177,001.89 Yuan | 2.08 | 404,592,047.44 Yuan | 2.52 | -20.37 | Primarily due to recovery of long-term receivables due within one year | | Other Payables | 1,478,648,452.20 Yuan | 9.54 | 1,268,417,160.72 Yuan | 7.91 | 16.57 | Primarily due to new inter-company fund borrowings | | Current Portion of Non-current Liabilities | 1,079,507,180.80 Yuan | 6.96 | 879,244,773.96 Yuan | 5.48 | 22.75 | Primarily due to increased long-term payables and lease liabilities due within one year | | Lease Liabilities | 29,519,866.78 Yuan | 0.19 | 20,918,927.86 Yuan | 0.13 | 41.12 | Primarily due to new long-term lease contracts | Major Restricted Assets at Period End | Item | Book Value at Period End | Reason for Restriction | | :--- | :--- | :--- | | Monetary Funds | 94,180,611.42 Yuan | Bill deposit, litigation preservation frozen funds | | Fixed Assets | 4,280,816,454.51 Yuan | Fixed assets used for financing | | Long-term Deferred Expenses | 17,170,419.68 Yuan | Long-term deferred expenses used for financing | | Total | 4,392,167,485.61 Yuan | | [(4) Analysis of Investment Status](index=10&type=section&id=(4)%20Analysis%20of%20Investment%20Status) During the reporting period, the Company's equity investment structure remained stable, comprising **6 wholly-owned subsidiaries**, **5 controlled subsidiaries**, and several associates, with financial assets measured at fair value primarily being other equity instrument investments, remaining unchanged at **207.20 million Yuan** - The Company owns **6 wholly-owned subsidiaries** (Duo Cai Yun, Guifu Tong, Huiku Technology, Zhongguangdian Zhihui, Duocai Huimin, Duocai Yun Tongxin) and **5 controlled subsidiaries** (Tianguang Zhihui, Guiguang Huijiao, Zhongan Yunwang, Wenlv Keji, Hongpiaodai Company)[38](index=38&type=chunk) Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (Yuan) | Ending Balance (Yuan) | | :--- | :--- | :--- | | Other Equity Instrument Investments | 207,204,665.00 | 207,204,665.00 | | Total | 207,204,665.00 | 207,204,665.00 | [(6) Analysis of Major Controlled and Associate Companies](index=12&type=section&id=(6)%20Analysis%20of%20Major%20Controlled%20and%20Associate%20Companies) This section presents financial information for the Company's major controlled subsidiaries. Guizhou Provincial Cultural Tourism Technology Co., Ltd. reported a significant net loss of **26.92 million Yuan**, negatively impacting the Company's overall net profit, despite some subsidiaries achieving positive net profits Financial Information of Major Controlled Subsidiaries (H1 2025) | Company Name | Total Assets (Yuan) | Net Assets (Yuan) | Operating Revenue (Yuan) | Operating Profit (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Guizhou Broadcasting and Television Network Duocaiyun Technology Development Co., Ltd. | 174,220,351.86 | 25,713,381.52 | 99,674,951.93 | 897,885.67 | 1,453,763.03 | | Guizhou Tianguang Smart City Technology Co., Ltd. | 76,949,274.81 | 63,302,941.17 | 4,338,652.46 | -909,312.65 | -909,312.65 | | Guizhou Guiguang Huijiao Technology Co., Ltd. | 52,532,056.28 | 4,758,172.14 | 0 | -909,996.36 | -909,996.36 | | Guizhou Zhongan Yunwang Technology Co., Ltd. | 89,582,233.77 | 68,468,156.02 | 5,134,208.03 | 1,729,110.26 | 1,260,462.09 | | Guifutong Network Technology Co., Ltd. | 66,651,512.57 | 44,634,087.41 | 141,509.47 | -1,235,817.54 | -1,242,042.53 | | Shenzhen Huiku Technology Co., Ltd. | 51,130,885.10 | 34,016,364.83 | 1,703,921.19 | 1,033,840.30 | 1,033,840.30 | | Guizhou Provincial Cultural Tourism Technology Co., Ltd. | 1,554,904,020.20 | 867,493,775.52 | 28,928,392.17 | -26,924,234.22 | -26,922,113.73 | | Zhongguangdian Zhihui (Guizhou) Technology Co., Ltd. | 8,860,166.04 | -436,427.32 | 1,176,595.66 | -892,478.14 | -892,478.14 | [V. Other Disclosure Matters](index=13&type=section&id=V.%20Other%20Disclosure%20Matters) The Company faces risks from intensifying market competition, uncollectible accounts receivable, uncertainty in broadcast 5G business transformation, and the risk of sustained losses due to high depreciation, financial costs, and overall decline in main business - Intensifying market competition: The impact of new media such as IPTV, OTT, and short videos may lead to user loss, decreased ARPU, and reduced revenue and profit[44](index=44&type=chunk) - Accounts receivable collection falling short of expectations: May lead to an increase in the Company's provision for bad debt losses[44](index=44&type=chunk) - Uncertainty in broadcast 5G business transformation: If 5G integrated business development falls short of expectations and revenue is insufficient, it may be difficult to compensate for the decline in traditional business in the short term[44](index=44&type=chunk) - Risk of sustained losses: Influenced by multiple factors such as significant depreciation and amortization, high financial costs, and an overall decline in main business, there is a risk of sustained losses[44](index=44&type=chunk) Section IV Corporate Governance, Environment and Society This section covers changes in the company's directors, supervisors, and senior management, profit distribution plans, and efforts in consolidating poverty alleviation achievements and rural revitalization [I. Changes in the Company's Directors, Supervisors, and Senior Management](index=14&type=section&id=I.%20Changes%20in%20the%20Company's%20Directors,%20Supervisors,%20and%20Senior%20Management) During the reporting period, there were changes in the Company's directors, supervisors, and senior management, with a new employee representative director elected and a new Chief Financial Officer appointed - Employee representative director Gou Mingyu resigned due to work adjustments[47](index=47&type=chunk) - Xia Hui was elected as an employee representative director of the Company's Fifth Board of Directors[47](index=47&type=chunk) - Zhang Xiaojian was appointed as the Company's Chief Financial Officer[48](index=48&type=chunk) [II. Profit Distribution or Capital Reserve Conversion Plan](index=14&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The Company's proposed semi-annual profit distribution or capital reserve conversion plan is 'none,' indicating no profit distribution or conversion for this reporting period - The Company's proposed semi-annual profit distribution plan or capital reserve conversion to share capital plan is "none"[49](index=49&type=chunk) [V. Specifics of Consolidating and Expanding Poverty Alleviation Achievements, Rural Revitalization, and Other Work](index=15&type=section&id=V.%20Specifics%20of%20Consolidating%20and%20Expanding%20Poverty%20Alleviation%20Achievements,%20Rural%20Revitalization,%20and%20Other%20Work) The Company actively supports national rural revitalization by deploying **32 village-based cadres** and ensuring their welfare, while also leading consumer assistance initiatives to purchase local agricultural products from supported areas - The Company dispatched **32 village-based cadres** to **32 villages/communities** across **28 townships/sub-districts** in **24 counties/districts** to participate in rural revitalization assistance work[51](index=51&type=chunk) - The Company ensures welfare for village-based first secretaries and team members, implementing timely care measures such as living allowances, paid leave, and health examinations[51](index=51&type=chunk) - The Company leads consumer assistance initiatives, purchasing specialty agricultural products from supported areas[51](index=51&type=chunk) Section V Significant Matters This section details the fulfillment of commitments, significant litigation and arbitration matters, major related party transactions, and significant contracts, particularly focusing on guarantees and their impact on the company [I. Fulfillment of Commitments](index=16&type=section&id=I.%20Fulfillment%20of%20Commitments) The Company's actual controller, controlling shareholder, and shareholders holding **5% or more** of shares have strictly fulfilled all commitments, including resolving horizontal competition, regulating related party transactions, share lock-ups, and other information disclosure and compensation responsibilities, with no instances of non-compliance during the reporting period - The Company's actual controller, the Propaganda Department of Guizhou Provincial Committee, committed to no horizontal competition and to minimize related party transactions, adhering to fair principles for unavoidable ones[53](index=53&type=chunk) - The Company's controlling shareholder, Guizhou Broadcasting and Television Investment Co., Ltd., and its controlling shareholder, actual controller, and shareholders holding **5% or more** of shares, committed not to directly or indirectly engage in businesses or activities competing with Guiguang Network's main business[55](index=55&type=chunk) - All commitments were strictly fulfilled during the reporting period[53](index=53&type=chunk)[54](index=54&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk) [VII. Significant Litigation and Arbitration Matters](index=21&type=section&id=VII.%20Significant%20Litigation%20and%20Arbitration%20Matters) During the reporting period, the Company was involved in multiple significant litigation and arbitration cases, primarily construction contract and sales contract disputes, with substantial amounts involved, some resulting in judgments requiring payments and others pending execution or ruling Significant Litigation and Arbitration Matters during the Reporting Period | Responsible Party | Basic Information of Litigation (Arbitration) | Amount Involved in Litigation (Arbitration) (Yuan) | Litigation (Arbitration) Progress | Litigation (Arbitration) Judgment Result and Impact | | :--- | :--- | :--- | :--- | :--- | | Guiguang Network, Meitan County Branch | Construction contract dispute, ruled that the company pay the plaintiff for engineering costs | 68,936,827.21 | Ruled | Pay outstanding amount to the plaintiff | | Guiguang Network, Rongjiang County Branch | Construction contract dispute, requested the company pay for engineering costs | 21,752,195.00 | Mediated | Execute according to mediation decision | | Guiguang Network, Jinping County Branch | Construction contract dispute, requested the company pay for engineering costs | 11,495,950.33 | Ruled | Separately negotiated and reached an agreement | | Guiguang Network, Liupanshui City Branch, Qianxinan Prefecture Branch, Zunyi City Branch | Sales contract dispute, requested the company pay for contract amount | 30,462,785.70 | Judged | Pay outstanding amount to the plaintiff | | Guiguang Network | Sales contract dispute, requested the company pay for contract amount | 25,209,969.79 | Judged | Pay outstanding amount to the plaintiff | | Guiguang Network | Sales contract dispute, applied for the company to pay for contract amount | 11,895,376.67 | Hearing held, awaiting ruling | Will be executed according to arbitration result | | Guiguang Network, Zunyi City Branch, Duocaiyun Company, Daozhen County Branch | Sales contract dispute, applied for the company to pay for contract amount | 12,167,760.04 | Second instance awaiting judgment | Will be executed according to judgment result | | Guiguang Network, Zhongshan District Branch, Liupanshui City Zhongshan District Urban Construction Investment Co., Ltd., Liupanshui City Public Security Bureau Zhongshan Branch | Construction contract dispute, requested the company pay for engineering costs | 125,708,600.00 | Awaiting court scheduling | Will be executed according to court scheduling and judgment result | | Guiguang Network | Construction contract dispute, requested the defendant return performance bond | 26,871,030.43 | Case accepted and filed | Will apply for execution according to court scheduling and judgment result | [X. Major Related Party Transactions](index=22&type=section&id=X.%20Major%20Related%20Party%20Transactions) The Company engaged in multiple significant related party transactions during the reporting period, primarily involving the procurement of goods/acceptance of services and the sale of goods/provision of services, with substantial payments for program acquisition, electricity, property management, and particularly guarantee fees to related parties, alongside revenue from data services and engineering Related Party Procurement of Goods/Acceptance of Services (H1 2025) | Related Party | Related Party Transaction Content | Actual Amount (Yuan) | | :--- | :--- | :--- | | Propaganda Department of Guizhou Provincial Committee and its controlled enterprises | － | 19,272,800.00 | | Guizhou Tianyu Media Co., Ltd. | Program acquisition fees | 33,018.84 | | Guizhou Broadcasting and Television Investment Co., Ltd. | Guarantee fees | 1,297,275.00 | | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | Guarantee fees | 15,530,769.70 | | Guizhou Cultural Industry Equity Investment Fund Partnership (Limited Partnership) | Interest expense on inter-company borrowings | 10,562,465.76 | | Guizhou Communications Industry Service Co., Ltd. | Construction fees | 316,262.49 | Related Party Sales of Goods/Provision of Services (H1 2025) | Related Party | Related Party Transaction Content | Actual Amount (Yuan) | | :--- | :--- | :--- | | Propaganda Department of Guizhou Provincial Committee and its controlled enterprises | － | 4,833,900.00 | | Propaganda Department of Guizhou Provincial Committee | Data services | 6,792.43 | | Guizhou Xingkong Film Co., Ltd. | Data services | 14,151.00 | | Guizhou Expressway Data Operation Co., Ltd. | Data services | 856,344.57 | | Guizhou Tianma Media Co., Ltd. | Information publishing | 964,654.37 | | Guizhou Zhongling Guanghui Pharmaceutical Health Industry Development Co., Ltd. | Data services | 1,420,803.77 | [XI. Significant Contracts and Their Performance](index=24&type=section&id=XI.%20Significant%20Contracts%20and%20Their%20Performance) The Company has multiple significant guarantees, primarily where external institutions provide financing guarantees for the Company, with the Company offering counter-guarantees; the total guarantee amount at period-end was **3.57 billion Yuan**, representing **111.49%** of net assets, with a high proportion of guarantees for related parties Company External Guarantees (Excluding Guarantees for Subsidiaries) | Guarantor | Guaranteed Party | Guaranteed Amount (Yuan) | Guarantee Type | Is Guarantee Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 70,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 425,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 300,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 70,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 180,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 100,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 100,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 194,087,361.39 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 882,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 200,000,000 | Mortgage Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Provincial Credit Enhancement Co., Ltd. | 312,000,000 | Pledge Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Provincial Credit Enhancement Co., Ltd. | 110,000,000 | Pledge Guarantee | No | | Guizhou Broadcasting and Television Information Network Co., Ltd. | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 600,000,000 | Mortgage Guarantee | No | Company Total Guarantee Amount | Indicator | Amount (Yuan) | | :--- | :--- | | Total Guarantee Amount Incurred During Reporting Period (Excluding Guarantees for Subsidiaries) | 3,543,087,361.39 | | Total Guarantee Balance at Period End (A) (Excluding Guarantees for Subsidiaries) | 3,543,087,361.39 | | Total Guarantee Amount for Subsidiaries Incurred During Reporting Period | 23,000,000 | | Total Guarantee Balance for Subsidiaries at Period End (B) | 23,000,000 | | Total Guarantee Amount (A+B) | 3,566,087,361.39 | | Total Guarantee Amount as % of Company's Net Assets | 111.49% | | Amount of Guarantees Provided for Shareholders, Actual Controllers, and Their Related Parties (C) | 3,121,087,361.39 | | Amount of Debt Guarantees Provided Directly or Indirectly for Guaranteed Parties with Asset-Liability Ratio Exceeding 70% (D) | 23,000,000 | | Total of the Above Three Guarantee Amounts (C+D+E) | 3,144,087,361.39 | Section VI Share Changes and Shareholder Information This section details changes in the company's share capital, including the increase in unrestricted shares due to convertible bond conversion, and provides an overview of shareholder structure, including the top ten shareholders and their pledge status [I. Changes in Share Capital](index=28&type=section&id=I.%20Changes%20in%20Share%20Capital) During the reporting period, the Company's share capital changed, with an increase of **22,776,023 unrestricted shares** due to the conversion of **1.598 billion Yuan** in convertible bonds into **204,231,413 shares** by March 4, 2025 Table of Share Changes | | Quantity Before Change | Proportion Before Change (%) | Change (+,-) Other | Change (+,-) Subtotal | Quantity After Change | Proportion After Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | II. Unrestricted Shares | 1,224,023,831 | 100 | 22,776,023 | 22,776,023 | 1,246,799,854 | 100 | | III. Total Shares | 1,224,023,831 | 100 | 22,776,023 | 22,776,023 | 1,246,799,854 | 100 | - As of March 4, 2025, a cumulative **1.598 billion Yuan** of Guiguang Convertible Bonds were converted into Company shares, resulting in **204,231,413 shares** from the conversion[74](index=74&type=chunk) [II. Shareholder Information](index=29&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the Company had **46,401 common shareholders**, with Guizhou Broadcasting and Television Investment Co., Ltd. being the largest shareholder at **31.54%**, with some shares pledged, and several entities identified as parties acting in concert - As of the end of the reporting period, the total number of common shareholders was **46,401**[75](index=75&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period End | Proportion (%) | Pledge, Mark, or Freeze Status of Shares | Pledge, Mark, or Freeze Quantity | | :--- | :--- | :--- | :--- | :--- | | Guizhou Broadcasting and Television Investment Co., Ltd. | 393,224,636 | 31.54 | Pledged | 196,425,000 | | China Guizhou Maotai Distillery (Group) Co., Ltd. | 121,423,728 | 9.74 | None | 0 | | Guizhou Telecom Industrial Co., Ltd. | 61,263,752 | 4.91 | None | 0 | | Guizhou Duocai Guizhou Cultural and Creative Industry Expo Co., Ltd. | 50,050,050 | 4.01 | None | 0 | | Beijing Gehua CATV Network Co., Ltd. | 21,681,463 | 1.74 | None | 0 | | Guizhou Broadcasting and Television Network Media Group Co., Ltd. | 21,631,050 | 1.73 | Pledged | 10,815,000 | | Hong Kong Securities Clearing Company Limited | 6,899,995 | 0.55 | None | 0 | | China Merchants Bank Co., Ltd. - Southern CSI 1000 ETF | 6,890,800 | 0.55 | None | 0 | | Meng Xiaobo | 6,048,800 | 0.49 | None | 0 | | Quan Wei | 5,810,386 | 0.47 | None | 0 | - Guizhou Broadcasting and Television Network Media Group Co., Ltd. is the controlling shareholder of Guizhou Broadcasting and Television Investment Co., Ltd., and shares the same actual controller with Guizhou Duocai Guizhou Cultural and Creative Industry Expo Co., Ltd., thus being parties acting in concert[78](index=78&type=chunk) Section VII Bond-Related Information This section details the Company's convertible bonds, including their delisting, conversion status, and the impact on share capital, along with the latest conversion price and the Company's asset-liability ratio [II. Convertible Corporate Bonds](index=32&type=section&id=II.%20Convertible%20Corporate%20Bonds) The Company's "Guiguang Convertible Bonds" were delisted from the Shanghai Stock Exchange on March 5, 2025, with **165.13 million Yuan** converted into **22,776,023 shares** during the reporting period, and no outstanding convertible bonds remaining, while the Company's asset-liability ratio stands at **79.37%** - The "Guiguang Convertible Bonds" were delisted from the Shanghai Stock Exchange starting March 5, 2025[88](index=88&type=chunk) Changes in Convertible Bonds during the Reporting Period | Convertible Corporate Bond Name | Before Change (Yuan) | Conversion to Shares (Yuan) | Redemption (Yuan) | Resale (Yuan) | After Change (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Guiguang Convertible Bonds | 167,464,000 | 165,132,000 | 2,332,000 | | 0 | Cumulative Convertible Bond Conversion during the Reporting Period | Convertible Corporate Bond Name | Guiguang Convertible Bonds | | :--- | :--- | | Amount Converted in Reporting Period (Yuan) | 165,132,000 | | Number of Shares Converted in Reporting Period (Shares) | 22,776,023 | | Cumulative Number of Shares Converted (Shares) | 204,231,413 | | Cumulative Shares Converted as % of Total Shares Issued Before Conversion | 19.5893 | | Unconverted Amount (Yuan) | 0 | | Unconverted Bonds as % of Total Issued Bonds | 0 | Historical Adjustments to Conversion Price | Conversion Price Adjustment Date | Adjusted Conversion Price (Yuan) | Disclosure Date | Disclosure Media | Explanation of Conversion Price Adjustment | | :--- | :--- | :--- | :--- | :--- | | July 16, 2019 | 8.04 | July 10, 2019 | "Shanghai Securities News" etc. | Annual profit distribution plan: cash dividend of 0.9 Yuan (incl. tax) per 10 shares to all shareholders. Conversion price before adjustment was 8.13 Yuan/share. | | July 17, 2020 | 7.94 | July 9, 2020 | "Shanghai Securities News" etc. | Annual profit distribution plan: cash dividend of 1 Yuan (incl. tax) per 10 shares to all shareholders. | | May 14, 2024 | 7.25 | May 11, 2024 | "Shanghai Securities News" | The Company's stock price triggered the downward revision clause for convertible bond conversion price in the "Prospectus". Authorized by the Company's second extraordinary general meeting in 2024, the Board of Directors revised the Guiguang Convertible Bond conversion price from 7.94 Yuan/share to 7.25 Yuan/share. | | Latest Conversion Price as of End of Reporting Period | 7.25 | | | | - During the reporting period, the Company's total assets were **15.503 billion Yuan**, total liabilities were **12.305 billion Yuan**, and the asset-liability ratio was **79.37%**[88](index=88&type=chunk) Section VIII Financial Report This section includes the audit report status, comprehensive financial statements (balance sheet, income statement, cash flow statement, and statement of changes in owner's equity), basic company information, basis of financial statement preparation, significant accounting policies and estimates, and tax information [I. Audit Report](index=34&type=section&id=I.%20Audit%20Report) This semi-annual report has not been audited - This semi-annual report has not been audited[6](index=6&type=chunk) [II. Financial Statements](index=34&type=section&id=II.%20Financial%20Statements) This section presents the Company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owner's equity for the first half of 2025, providing a comprehensive view of its financial position, operating results, and cash flows [Consolidated Balance Sheet](index=34&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, the Company's consolidated total assets were **15.50 billion Yuan**, total liabilities **12.30 billion Yuan**, and total owner's equity **3.20 billion Yuan**, with total assets and liabilities slightly decreasing, and owner's equity attributable to the parent company decreasing by **13.19%** compared to year-end 2024 Key Data from Consolidated Balance Sheet (June 30, 2025) | Item | June 30, 2025 (Yuan) | December 31, 2024 (Yuan) | | :--- | :--- | :--- | | Total Assets | 15,503,135,797.04 | 16,033,749,053.74 | | Total Liabilities | 12,304,641,400.33 | 12,424,427,983.22 | | Total Owner's Equity | 3,198,494,396.71 | 3,609,321,070.52 | | Total Owner's Equity Attributable to Parent Company | 2,592,788,619.74 | 2,986,703,298.73 | [Consolidated Income Statement](index=38&type=section&id=Consolidated%20Income%20Statement) In the first half of 2025, the Company's consolidated total operating revenue was **616 million Yuan**, a **30.71%** year-on-year decrease, resulting in a total loss of **579 million Yuan** and a net loss attributable to parent company shareholders of **562 million Yuan**, with the loss expanding by **34.11%** year-on-year Key Data from Consolidated Income Statement (Jan-Jun 2025) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 616,220,804.14 | 889,280,629.19 | | Total Operating Costs | 1,056,177,644.17 | 1,297,023,834.74 | | Total Profit | -579,284,244.82 | -439,961,385.57 | | Net Profit | -579,164,744.05 | -440,292,505.61 | | Net Profit Attributable to Parent Company Shareholders | -562,252,749.23 | -419,262,852.78 | | Basic Earnings Per Share (Yuan/share) | -0.45 | -0.35 | [Consolidated Cash Flow Statement](index=41&type=section&id=Consolidated%20Cash%20Flow%20Statement) In the first half of 2025, the Company's net cash flow from operating activities was **59.73 million Yuan**, a **51%** year-on-year decrease, while net cash flow from investing activities was **-99.12 million Yuan** (reduced outflow), and from financing activities was **810 thousand Yuan** (turned positive), with the period-end cash and cash equivalents balance decreasing Key Data from Consolidated Cash Flow Statement (Jan-Jun 2025) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 59,725,666.00 | 121,896,724.04 | | Net Cash Flow from Investing Activities | -99,122,880.04 | -406,212,884.15 | | Net Cash Flow from Financing Activities | 811,897.09 | -64,526,227.68 | | Net Increase in Cash and Cash Equivalents | -38,585,316.95 | -348,842,387.79 | | Ending Balance of Cash and Cash Equivalents | 34,975,963.27 | 76,472,082.26 | [III. Company Basic Information](index=48&type=section&id=III.%20Company%20Basic%20Information) Guizhou Broadcasting and Television Information Network Co., Ltd., established on March 26, 2008, and listed on the Shanghai Stock Exchange (SH.600996) on December 26, 2016, primarily provides standard and high-definition digital TV signal transmission, engineering, and data services, with its financial statements approved by the Board on August 28, 2025 - The Company was established on March 26, 2008, and its shares were listed and traded on the Shanghai Stock Exchange on December 26, 2016, with stock code **SH.600996**[117](index=117&type=chunk) - The Company primarily engages in standard definition and high definition digital television program signal transmission and broadcasting services, engineering and installation services, and data services[117](index=117&type=chunk) [IV. Basis of Financial Statement Preparation](index=48&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) The Group's financial statements are prepared on a going concern basis, adhering to the 'Accounting Standards for Business Enterprises' and 'Information Disclosure Guidelines No. 15' (2023 revision), using the accrual basis of accounting and historical cost measurement, with a confirmed ability to continue as a going concern for at least **12 months** from the reporting period end - The Group's financial statements are prepared on a going concern basis, in accordance with the "Accounting Standards for Business Enterprises" and relevant regulations[118](index=118&type=chunk) - Accounting is based on the accrual method, and except for certain financial instruments, all are measured at historical cost[118](index=118&type=chunk) - The Group has the ability to continue as a going concern for at least **12 months** from the end of the reporting period, with no significant matters affecting its going concern ability[119](index=119&type=chunk) [V. Significant Accounting Policies and Accounting Estimates](index=48&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Accounting%20Estimates) This section details the Company's significant accounting policies and estimates for revenue recognition, leases, financial asset impairment, inventory write-downs, fair value measurement, long-term asset impairment, depreciation, amortization, development expenditures, deferred income tax, income tax, post-employment benefits, and provisions, highlighting the critical judgments and assumptions that may significantly impact future financial statements - The Group's revenue recognition involves significant judgments and estimates, such as identifying customer contracts, assessing collectibility of consideration, identifying performance obligations, and estimating variable consideration[120](index=120&type=chunk) - The Group uses the expected credit loss model to assess impairment of financial instruments, requiring consideration of all reasonable and supportable information, including forward-looking information[122](index=122&type=chunk) - The Group assesses whether there are indications of impairment for non-current non-financial assets such as fixed assets, construction in progress, right-of-use assets, and intangible assets with finite useful lives at the balance sheet date, and conducts impairment tests[195](index=195&type=chunk) [VI. Taxation](index=72&type=section&id=VI.%20Taxation) This section outlines the Company's main tax categories and rates, including VAT, urban maintenance and construction tax, education surcharges, cultural construction fees, and corporate income tax, highlighting several tax preferential policies such as corporate income tax exemption for cultural enterprises until December 31, 2027, and VAT exemption for basic cable TV reception fees Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable income calculated as output tax, and VAT paid on the difference after deducting current allowable input tax | 13%, 9%, 6% or 3% | | Urban Maintenance and Construction Tax | Actually paid turnover tax | 7%, 5% | | Education Surcharge | Actually paid turnover tax | 3% | | Local Education Surcharge | Actually paid turnover tax | 2% | | Cultural Construction Fee | Tax-inclusive advertising service revenue | 1.5% | | Corporate Income Tax | Corporate taxable income | The Company is exempt from corporate income tax; corporate income tax rates for other subsidiaries are detailed in the table below. | - As a cultural enterprise undergoing transformation, the Company is exempt from corporate income tax from January 1, 2022, to December 31, 2027[233](index=233&type=chunk) - Value-added tax is exempted for basic digital cable TV reception and maintenance fees and rural cable TV basic reception fees collected by broadcasting and television operation service enterprises, effective until December 31, 2027[233](index=233&type=chunk) - The subsidiary Zhongguangdian Zhihui (Guizhou) Technology Co., Ltd. is eligible for small and micro-enterprise income tax preferential policies in 2025, with taxable income calculated at **25%** and corporate income tax paid at a **20%** rate[234](index=234&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=73&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on various consolidated financial statement items, including cash, receivables, inventories, borrowings, payables, equity, revenues, costs, expenses, and cash flow, with particular attention to bad debt provisions for accounts and long-term receivables, long-term borrowing repayment plans, and related party funding and guarantees Ending Balance of Monetary Funds | Item | Ending Balance (Yuan) | | :--- | :--- | | Bank Deposits | 99,151,014.71 | | Other Monetary Funds | 30,005,559.98 | | Total | 129,156,574.69 | | Of which: Restricted funds due to mortgage, pledge, or freeze | 94,180,611.42 | - The ending book balance of accounts receivable was **3.906 billion Yuan**, with a bad debt provision of **990.18 million Yuan**, resulting in a book value of **2.916 billion Yuan**[242](index=242&type=chunk) - The ending book balance of long-term receivables was **2.917 billion Yuan**, with a bad debt provision of **410.27 million Yuan**, resulting in a book value of **2.507 billion Yuan**[283](index=283&type=chunk) - The ending balance of short-term borrowings was **3.955 billion Yuan**, primarily consisting of guaranteed borrowings and credit borrowings[332](index=332&type=chunk) - The ending balance of accounts payable was **2.808 billion Yuan**, mainly for engineering costs, procurement costs, and service fees[335](index=335&type=chunk) - The ending balance of other payables was **1.479 billion Yuan**, mainly for inter-company balances and deposits/guarantees[346](index=346&type=chunk) - The ending balance of long-term borrowings was **1.697 billion Yuan**, primarily consisting of pledged borrowings, mortgaged borrowings, and guaranteed borrowings[350](index=350&type=chunk) - Operating revenue for H1 2025 was **616.22 million Yuan**, and operating cost was **716.98 million Yuan**[370](index=370&type=chunk) - Financial expenses for H1 2025 were **174.12 million Yuan**, primarily composed of interest expenses totaling **171.08 million Yuan**[376](index=376&type=chunk) - Net cash flow from operating activities for H1 2025 was **59.73 million Yuan**[400](index=400&type=chunk)

Group 1 - The company reported a revenue of 616 million yuan for the first half of 2025, representing a year-on-year decline of 30.71% [1] - The net loss attributable to shareholders was 562 million yuan, compared to a net loss of 419 million yuan in the same period last year [1]

Market Overview - The Shanghai Composite Index is at 3884.87 points, above the six-month moving average, with a slight increase of 0.03% [1] - The total trading volume of A-shares today is 21,403.55 billion yuan [1] Stocks Breaking Six-Month Moving Average - A total of 47 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Haosheng Electronics (12.03%) - Senqilin (4.06%) - Shuguang Co., Ltd. (3.72%) [1] Stock Performance Data - The following stocks have notable performance metrics: - Haosheng Electronics: Today's increase of 14.32%, turnover rate of 7.33%, six-month average price of 21.38 yuan, latest price at 23.95 yuan [1] - Senqilin: Today's increase of 5.90%, turnover rate of 6.52%, six-month average price of 20.00 yuan, latest price at 20.81 yuan [1] - Shuguang Co., Ltd.: Today's increase of 5.15%, turnover rate of 10.89%, six-month average price of 3.74 yuan, latest price at 3.88 yuan [1]

Market Overview - The Shanghai Composite Index closed at 3888.00 points, above the six-month moving average, with a slight increase of 0.11% [1] - The total trading volume of A-shares reached 16993.57 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 46 A-shares have surpassed the six-month moving average today, with notable stocks including Shuguang Co., Zhengdan Co., and Dongbai Group, showing divergence rates of 4.78%, 4.68%, and 2.88% respectively [1] - Stocks with smaller divergence rates that have just crossed the six-month moving average include Jinjiang Hotels, Mingchen Health, and Spring Airlines [1] Top Stocks by Divergence Rate - The top three stocks with the highest divergence rates are: - Shuguang Co. (600303) with a price increase of 6.23%, turnover rate of 9.78%, six-month line at 3.74 yuan, latest price at 3.92 yuan, and a divergence rate of 4.78% [1] - Zhengdan Co. (300641) with a price increase of 6.11%, turnover rate of 6.57%, six-month line at 24.40 yuan, latest price at 25.54 yuan, and a divergence rate of 4.68% [1] - Dongbai Group (600693) with a price increase of 3.53%, turnover rate of 5.38%, six-month line at 6.27 yuan, latest price at 6.45 yuan, and a divergence rate of 2.88% [1] Additional Stocks with Notable Performance - Other stocks with significant performance include: - Tianbang Food (002124) with a price increase of 3.30%, turnover rate of 4.80%, six-month line at 3.05 yuan, latest price at 3.13 yuan, and a divergence rate of 2.74% [1] - *ST Haiyuan (002529) with a price increase of 5.06%, turnover rate of 1.38%, six-month line at 6.68 yuan, latest price at 6.85 yuan, and a divergence rate of 2.53% [1] - Senqilin (002984) with a price increase of 4.22%, turnover rate of 4.06%, six-month line at 20.00 yuan, latest price at 20.48 yuan, and a divergence rate of 2.43% [1]

Market Overview - The Shanghai Composite Index closed at 3888.00 points, with a slight increase of 0.11% and total trading volume of 169.94 billion yuan [1] - A total of 26 A-shares have surpassed their annual moving average, indicating positive market sentiment [1] Notable Stocks - Creative Information (300366) showed the highest deviation rate of 4.01%, with a daily increase of 4.72% and a turnover rate of 13.12% [1] - TCL Smart Home (002668) followed with a 3.37% deviation rate, increasing by 5.49% today [1] - Weiming Environmental (603568) had a deviation rate of 2.57%, with a daily increase of 3.46% [1] Stocks with Smaller Deviations - China National Pharmaceutical (600938), Zhongju High-tech (600872), and China Oil (000028) all had minor deviation rates, just above their annual lines, with increases of 0.31%, 1.11%, and 0.57% respectively [2]

证券代码：600996 证券简称：贵广网络 公告编号：2025-042 贵州省广播电视信息网络股份有限公司 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： ? 贵州省广播电视信息网络股份有限公司（简称"公司"）控股股东贵州 广播影视投资有限公司（简称"贵广投资"）持有公司无限售条件流通 股 393,224,636 股，占截至 2025 年 6 月 30 日公司总股本 1,246,799,854 股的 31.54%。本次部分股份解除质押后，贵广投资累计质押数量为 致行动人累计所持公司股份总数的 34.03%，占公司总股本的 12.69%。 公司于近日收到控股股东贵广投资通知，贵广投资将其所持公司部分股份办 理了解除质押，具体事项如下。 股东名称 贵州广播影视投资有限公司 本次解质股份 38,220,000 股 占其所持股份比例 9.72% 占公司总股本比例 3.07% 解除质押时间 2025 年 8 月 14 日 持股数量 393,224,636 股 持股比例 31.54% 剩余被质押股份数量 158,205,0 ...

（文章来源：证券日报） 证券日报网讯 8月18日晚间，贵广网络发布公告称，公司于近日收到控股股东贵州广播影视投资有限公 司（简称"贵广投资"）通知，贵广投资将其所持公司部分股份办理了解除质押，本次解除质押股份38， 220，000股。 ...

| 股东名称 | 贵州广播影视投资有限公司 | | --- | --- | | 本次解质股份 | 38,220,000 股 | | 占其所持股份比例 | 9.72% | | 占公司总股本比例 | 3.07% | | 解除质押时间 | 2025 年 8 月 14 日 | | 持股数量 | 393,224,636 股 | | 持股比例 | 31.54% | | 剩余被质押股份数量 | 158,205,000 股 | | 剩余被质押股份数量占其所持股份比例 | 40.23% | | 剩余被质押股份数量占公司总股本比例 | 12.69% | 1.本次部分股份解除质押的基本情况 贵广投资于 2025 年 2 月 14 日质押展期 60,240,000 股，质权人为国泰海通 证券股份有限公司（曾用名：国泰君安证券股份有限公司），质押到期日为 2025 年 8 月 14 日，于 2025 年 2 月 21 日提前解除部分质押 15,000,000 股（详见公司 于 2025 年 2 月 26 日披露的《关于控股股东部分股份质押展期及解除质押的公 证券代码：600996 证券简称：贵广网络 公告编号：2025-042 贵州省 ...

Group 1 - The controlling shareholder, Gui Guang Investment, has lifted the pledge on 38.22 million shares, which accounts for 9.72% of its holdings and 3.07% of the company's total share capital [1] - After this release, Gui Guang Investment has a total of 158 million shares pledged, representing 40.23% of its total holdings and 12.69% of the company's total share capital [1]

天眼查商业履历信息显示，贵州省广播电视信息网络股份有限公司，成立于2008年，位于贵阳市，是一 家以从事广播、电视、电影和录音制作业为主的企业。企业注册资本104256.8441万人民币，实缴资本 4000万人民币。公司法定代表人为陈彧。 通过天眼查大数据分析，贵州省广播电视信息网络股份有限公司共对外投资了18家企业，参与招投标项 目5000次，知识产权方面有商标信息129条，专利信息198条，此外企业还拥有行政许可39个。 来源：金融界 金融界消息 截至2025年8月14日收盘，贵广网络（600996）报收于8.24元，下跌2.37%，换手率1.95%， 成交量24.27万手，成交金额2.02亿元。 资金流向方面，今日主力资金净流出2098.20万元，占比成交额10.4%。其中，超大单净流出1342.83万 元、占成交额6.65%，大单净流出755.38万元、占成交额3.74%，中单净流出流入406.03万元、占成交额 2.01%，小单净流入1692.18万元、占成交额8.38%。 贵广网络最新一期业绩显示，截至2025一季报，公司营业总收入2.79亿元、同比减少22.66%，归属净利 润26747.59万 ...