证券代码：600996 证券简称：贵广网络 公告编号：2025-066 贵州省广播电视信息网络股份有限公司 关于续聘 2025 年度审计机构的公告 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： 拟聘任的会计师事务所名称：中审众环会计师事务所（特殊普通合伙） （简称"中审众环"） 一、拟聘任会计师事务所的基本情况 （一）机构信息 1.基本信息 机构名称：中审众环会计师事务所（特殊普通合伙） 成立日期：中审众环始创于 1987 年，是全国首批取得国家批准具有从事证 券、期货相关业务资格及金融业务审计资格的大型会计师事务所之一。根据财政 部、证监会发布的从事证券服务业务会计师事务所备案名单，该所具备股份有限 公司发行股份、债券审计机构的资格。2013 年 11 月，按照国家财政部等有关要 求转制为特殊普通合伙制。 和信息技术服务业，采矿业，文化、体育和娱乐业等，审计收费 35,961.69 万元， 本公司同行业上市公司审计客户 16 家。 2.投资者保护能力 中审众环每年均按业务收入规模购买职业责任保险，并补充计提 ...

央国企的传媒标的，为何值得被重视？20251209 摘要 传媒行业历经 8 年出清和 6 年摸底，部分央国企市值已接近牌照价值， 具备重估潜力。2023 年以来成交额放大，但主动权益基金配置比例仍 处历史低位，表明存在投资机会。 AI 时代，传媒央国企凭借政策支持和资源优势，有望在新技术应用中领 先。历史数据显示，这些企业分红稳定且比例较高，长期投资价值凸显。 国内外 AI 商业化路径存在差异，国外倾向订阅收费，国内需探索版权保 护、税务稽查等逆人性需求，寻找更适合本土市场的发展路径。 AR/VR 技术将经历大众创业、资源整合到资产证券化的过程，央国企将 在资源配置和政策引导方面发挥重要作用，推动行业健康发展。 AI 时代，纸媒和有线网络或将迎来价值回归，牌照价值重估，龙头标的 如芒果超媒、中国电影等已有规划，资源资产化、资产证券化提供契机。 AI 时代的新内容形态预计在 2027 年后出现，可能是影视与游戏合并的 大型真人交互式内容。平台将向端到端 Agent 模式发展，简化操作，提 升用户体验。 推荐关注新华网、中视传媒、歌华有线、文投控股、贵广网络、国脉文 化、浙数文化、中国电影等央国企传媒标的，通过组 ...

Investment Rating - The report does not explicitly provide an investment rating for the cable television industry Core Insights - The cable television industry is a crucial information infrastructure for the country and is under pressure from new media and internet competition, despite some user recovery due to policy interventions [2][14] - As of Q3 2025, the actual number of cable television users reached 207 million, showing a slight decline of 0.96% compared to the end of 2024, but a quarter-on-quarter increase of 0.49% [4][35] - The total revenue of the broadcasting and television service industry in the first three quarters of 2025 was 1,048.919 billion yuan, representing a year-on-year growth of 4.59% [4] Industry Operation Status - The broadcasting and television service industry saw total revenue of 1,048.919 billion yuan in the first three quarters of 2025, with actual revenue of 193.4598 billion yuan, up 4.31% year-on-year [4] - The revenue from broadcasting institutions was 446.904 billion yuan, up 6.73%, while revenue from online audio-visual service institutions was 602.015 billion yuan, up 3.05% [4][7] - The cable television network revenue has shown limited fluctuation, indicating a stable but pressured revenue stream [5] Competitive Landscape - The cable television industry faces significant user diversion due to the growth of new media, broadband networks, and mobile communications [11] - As of Q3 2025, the number of mobile internet users reached 1.269 billion, with video app monthly active users at 799 million, accounting for 62.96% of total internet users [11] - The short video sector has also seen explosive growth, with 1.129 billion monthly active users as of September 2025 [11] Policy Developments - In 2025, significant progress was made in hotel television governance and simplification of remote controls, which helped facilitate user recovery [16] - New standards for residential projects were implemented to ensure the inclusion of cable television systems, enhancing the infrastructure for broadcasting services [17] Company Performance - Among the eight sample companies, only three reported revenue growth: Jishi Media, Jiangsu Cable, and Huashu Media, with growth rates of 3.00%, 2.79%, and 0.92% respectively [18] - The remaining five companies experienced revenue declines, with Guizhou Network and Shaanxi Broadcasting facing the most significant drops of -27.63% and -22.16% [19] - Profitability varied, with Jiangsu Cable's profit increasing by 6.08%, while Huashu Media's profit decreased by 11.36% [24] Financial Health - The average debt-to-asset ratio for sample companies was 56.19%, with some companies exceeding 80%, indicating high leverage [28] - Cash flow from investment activities was generally negative, with several companies relying on external financing to meet their needs [32] Summary - The cable television industry is experiencing user recovery due to policy support, but it continues to face intense competition from new media and the internet [35] - Revenue growth is uneven among companies, with many facing losses and increasing debt levels, while the impact of 5G services on performance remains limited [35]

Group 1 - The core viewpoint of the articles highlights the promotion and deployment of ultra-high-definition (UHD) embedded micro set-top boxes by China Broadcasting Network, aiming to enhance user experience with features like lightweight, intelligence, and high compatibility [1][2] - As of the end of November, over 100,000 UHD embedded micro set-top boxes have been promoted in the cable television network in Beijing [1] - The initiative to deploy UHD embedded micro set-top boxes was launched in April, addressing issues related to traditional set-top boxes such as multiple connections, multiple remote controls, and complex operations [1] Group 2 - The UHD embedded micro set-top box is designed to be compact and low-power, connecting directly to the TV's HDMI port, thus achieving miniaturization and reduced wiring [1] - The device supports 4K UHD transmission and features a universal remote control that operates both the TV and the set-top box, simplifying user interaction [1] - China Broadcasting Network aims to achieve a target of over 50% market share for UHD terminals by the end of the year, leveraging the "Year of Ultra HD" as a strategic opportunity for comprehensive upgrades across the network, content, and terminal [2]

《 人民日报 》（ 2025年12月03日 06 版） 本报北京12月2日电 （记者刘阳）今年以来，中国广电在扎实推进"双治理"的基础上，将"超高清发展 年"作为战略契机，推动网络、内容、终端全链条升级，力争年内实现超高清终端占比突破50%的目 标。其中，超高清插入式微型机顶盒作为国家广播电视总局重点部署的创新产品形态，有力引领有线电 视服务提质升级。 (责编：岳弘彬、牛镛) 关注公众号：人民网财经 为解决传统机顶盒"连线多、遥控器多、操作复杂"等问题，国家广播电视总局在今年4月启动了超高清 插入式微型机顶盒千万级规模部署工作。超高清插入式微型机顶盒采用低功耗器件和紧凑化设计，体积 较普通机顶盒降低80%以上，可直接插在电视机HDMI接口上使用，实现了机顶盒小型化、隐藏化、减 少连线的目标；全面支持4K超高清传输，带来稳定、清晰、流畅的收视体验。搭配基于红外、蓝牙和 星闪的三模通用遥控器，实现一个遥控器同时控制电视机和机顶盒，方便用户一键开关机、一键进直 播。超高清插入式微型机顶盒还可连接投影仪、便携屏、一体机等新型设备，轻松融入家居、办公等多 元场景。 为打造优质的超高清视听服务体系，中国广电正推进网络、内 ...

Core Viewpoint - The television broadcasting sector experienced a decline of 1.48% on the trading day, with significant losses in key stocks such as Guangdian Network, which fell by 2.73% [1][2]. Market Performance - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1]. - The television broadcasting sector saw a net outflow of 242 million yuan from major funds, while retail investors contributed a net inflow of 187 million yuan [2][3]. Stock Performance - Key stocks in the television broadcasting sector showed varied performance: - Guangdian Network (600831) closed at 4.63, down 2.73% with a trading volume of 158,800 shares and a turnover of 73.83 million yuan [2]. - Wireless Media (301551) closed at 35.47, down 2.34% with a trading volume of 34,800 shares and a turnover of 124 million yuan [2]. - Other notable declines included: - Jishi Media (601929) down 2.31% to 3.80 [2]. - Gehua Cable (600037) down 2.30% to 7.63 [2]. - Dongfang Mingzhu (600637) down 2.28% to 9.84 [2]. Fund Flow Analysis - The fund flow analysis indicates: - Major funds showed a significant outflow from Guangdian Network, with a net outflow of 13.46 million yuan, representing an 18.23% decrease [3]. - Retail investors showed a positive net inflow into Guangdian Network, amounting to 13.03 million yuan, or 17.65% of the total [3]. - Other stocks like Jiangsu Cable (600959) and Hubei Broadcasting (000665) also experienced notable outflows from major funds [3].

Market Overview - The television broadcasting sector increased by 0.8% compared to the previous trading day, with Dongfang Mingzhu leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Stock Performance - Key stocks in the television broadcasting sector showed varied performance, with Dongfang Mingzhu (600637) closing at 10.07, up 3.60% with a trading volume of 1.2652 million shares and a turnover of 1.291 billion [1] - Other notable performers included Liujin Technology (920021) at 6.71, up 2.76%, and Wuxian Media (301551) at 36.32, up 1.45% [1] - Conversely, Guiguang Network (600996) saw a decline of 1.90%, closing at 11.88, with a trading volume of 515,500 shares and a turnover of 623 million [2] Capital Flow - The television broadcasting sector experienced a net outflow of 194 million from institutional investors, while retail investors saw a net inflow of 199 million [2] - The capital flow data indicates that retail investors were more active in the market, contrasting with the outflows from institutional and speculative funds [2] Individual Stock Capital Flow - Liujin Technology (920021) had a net inflow of 7.1519 million from institutional investors, while it faced a net outflow of 192.67 thousand from speculative funds [3] - Other stocks like Hubei Broadcasting (000665) and Jiangsu Cable (600959) also showed mixed capital flows, with Hubei Broadcasting experiencing a net outflow of 465.82 thousand from speculative funds [3]

Core Viewpoint - The transition of management for Wanlian Securities' public collective fund to Ping An Fund marks a significant move in the industry, showcasing a new path for the transformation of broker-dealer asset management products into public offerings [1][3]. Group 1: Management Transition - On November 28, Wanlian Securities announced that its Wanlian Tiantianli Money Management Plan would be managed by Ping An Fund, rebranded as "Ping An Tiantianli Money Market Fund" [1]. - This transition is one of the few instances of management changes between non-shareholder institutions in the broker-dealer asset management sector [1]. Group 2: Redemption Periods - Following the decision, a redemption period from November 28 to December 5 was established for holders of the collective plan shares, allowing them to choose to redeem their shares [3]. - Shares not redeemed during this period will automatically convert to shares of the Ping An Tiantianli Money Market Fund [3]. Group 3: Industry Trends - Other broker-dealers, such as Northeast Securities and Caida Securities, have also announced similar transitions to public fund management, indicating a broader trend in the industry [3][4]. - As of November 30, nearly 100 large collective products have yet to complete their transformation to public offerings, highlighting the urgency as the 2025 deadline approaches [6].

贵州省广播电视信息网络股份有限公司 董事会审计委员会实施细则 第二条 董事会审计委员会是董事会按照股东会决议设立的专门工作机构， 行使《公司法》规定的监事会的职权；主要负责审核公司财务信息及其披露、监 督及评估内外部审计工作和内部控制。 第二章 人员组成 第三条 审计委员会由三名董事组成。其中，独立董事不得少于二名，至少 有一名独立董事为会计专业人士。审计委员会成员应当为不在公司担任高级管理 人员的董事，其中独立董事应当过半数，并由独立董事中会计专业人士担任召集 人。 第四条 审计委员会委员由董事长、二分之一以上独立董事或者全体董事的 三分之一提名，并由董事会选举产生。 贵州省广播电视信息网络股份有限公司 董事会审计委员会实施细则 (第五届董事会2025年第二次临时会议审议通过) 二零二五年十一月 贵州省广播电视信息网络股份有限公司 董事会审计委员会实施细则 第一章 总则 第一条 为强化董事会决策功能，做到事前审计、专业审计，确保董事会对 经理层的有效监督，完善公司治理结构，根据《中华人民共和国公司法》（以下 简称"《公司法》"）、《上市公司治理准则》、《企业内部控制基本规范》、 《上海证券交易所上市公司自律 ...

贵州省广播电视信息网络股份有限公司 独立董事专门会议管理制度 贵州省广播电视信息网络股份有限公司 独立董事专门会议管理制度 (第五届董事会 2025 年第二次临时会议审议通过) $$\Xi{\bf O}=\Xi\,\rlap{\nwarrow}\,\rlap{\nwarrow}\,+-\,\rlap{\nwarrow}\,\rlap{\nwarrow}\,\rlap{\nwarrow}\,\rlap{\nwarrow}\,$$ 贵州省广播电视信息网络股份有限公司 独立董事专门会议管理制度 第一章 总则 第一条 为进一步规范贵州省广播电视信息网络股份有限公司（以下简称公 司）独立董事专门会议的议事方式和决策程序，促使并保障独立董事有效地履行 其职责，根据《中华人民共和国公司法》《上海证券交易所上市公司自律监管指 引第 1 号——规范运作》《上市公司独立董事管理办法》等法律、行政法规、 中国证券监督管理委员会（以下简称中国证监会）规定和上海证券交易所业务规 则及《贵州省广播电视信息网络股份有限公司章程》（以下简称《公司章程》） 《独立董事工作制度》等规定，制定本制度。 第二条 独立董事是指不在公司担任除董事外的其 ...