证券代码：601019 证券简称：山东出版 公告编号：2024-049 山东出版传媒股份有限公司 第四届董事会第三十次（临时）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。 重要内容提示： 一、董事会会议召开情况 山东出版传媒股份有限公司（以下简称"公司"）第四届董事会第三十次（临 时）会议于 2024 年 12 月 20 日上午在公司会议室以现场会议方式召开，公司全体 董事于 2024 年 12 月 17 日全部收到当日发出的关于召开本次会议的书面或电子邮 件通知。会议由公司董事长刘文强先生召集并主持，会议应出席董事 6 名，实际出 席董事 6 名，公司全体监事、全体高管成员列席了会议。会议的通知、出席人数、 召集和召开程序、议事内容和表决程序均符合《公司法》等法律、法规、规范性文 件及《公司章程》的相关规定。 （二）审议通过了《关于公司 2023 年度高质量发展绩效考核情况的议案》 1 全体董事出席现场会议。 全体董事对全部议案投赞成票。 本议案表决结果：6 票赞成，0 票反对，0 票弃权；同意的票数占有效票 ...

山东出版(601019) 2024 年第三次临时股东大会会议资料 山东出版传媒股份有限公司 2024 年第三次临时股东大会 会议资料 二〇二四年十二月 山东出版传媒股份有限公司 2024 年第三次临时股东大会会议须知 为了维护广大投资者的合法权益，保证山东出版传媒股份有限公 司（简称"公司"）股东在公司 2024 年第三次临时股东大会（简称"本 次会议"）上依法行使职权，确保本次会议的正常秩序和议事效率， 根据《中华人民共和国公司法》（简称"《公司法》"）《上市公司股 东大会规则》《公司章程》《公司股东大会议事规则》等有关规定，制 定以下会议须知。 一、会议的组织方式 1．会议由公司董事会依法召集。 2．本次会议的出席人员为 2024 年 12 月 12 日下午上海证券交易 所交易结束后，在中国证券登记结算有限责任公司上海分公司登记在 册的本公司股东或其委托代理人的实际参会人员；本公司董事、监事 和高级管理人员；本次会议见证律师等。 3．本次会议行使《公司法》《公司章程》《公司股东大会议事规 则》等规定的股东大会职权。 二、会议的表决方式 1．出席本次会议的股东及股东代表以其所代表的有表决权股份 数额行使表决 ...

证券代码：601019 证券简称：山东出版 公告编号：2024-048 山东出版传媒股份有限公司 关于召开 2024 年第三次临时股东大会的通知 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。 召开地点：济南市市中区英雄山路 189 号山东出版传媒股份有限公司 4 楼会 议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 12 月 20 日 股东大会召开日期：2024年12月20日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年第三次临时股东大会 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票 相结合的方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2024 年 12 月 20 日 11 点 00 分 至 2024 年 12 月 20 日 采用上海证券交易所网络投票系统，通 ...

Investment Rating - The report assigns an "Outperform" rating to Shandong Publishing with a target price of 13.16 RMB per share, based on an 18x PE valuation for 2024 [4][72] Core Views - Shandong Publishing is a leading integrated cultural industry enterprise in Shandong, with a comprehensive business model covering publishing, printing, distribution, and supply, along with emerging sectors like digital publishing and study tourism [2][35] - The company's textbook and supplementary materials business remains stable, benefiting from the growing student population in Shandong and the essential nature of educational materials [3][9] - Shandong Publishing is actively expanding its innovative businesses, including study tourism and digital transformation, which are expected to contribute significantly to future growth [3][12][62] - The company has a strong track record of high dividend payouts, with dividend ratios increasing from 47.65% in 2021 to 49.19% in 2023, and is expected to maintain stable dividend payments [4][64] Business Segments Textbook and Supplementary Materials - The textbook business is a core revenue driver, with revenue growing from 5.54 billion RMB in 2020 to 6.88 billion RMB in 2023, achieving a compound growth rate of 7.49% [3][9] - Self-compiled textbook revenue grew at a compound rate of 11.91%, while rental textbook revenue grew at 9.13% from 2020 to 2023 [3] - The company has a strong brand advantage in Shandong, with a well-established textbook system and a growing student population, particularly in higher grades [3][9][46] General Book Publishing - The company published 15,841 books and 141 audio-visual products in 2023, with a reprint rate of 78.5% [3] - General book publishing revenue has been volatile, with a compound growth rate of -4.25% from 2020 to 2023, but the company is focusing on producing high-quality books and expanding sales channels, including short videos [3][10][61] Innovative Businesses - Study tourism revenue grew over 60% year-on-year in the first half of 2024, driven by the development of branded study courses and the expansion of the tourism industry chain [3][12][62] - The company is accelerating its digital transformation, including smart campus projects, after-school services, and digital innovation initiatives [3][12][63] Financial Performance and Forecast - Revenue is expected to grow from 12.85 billion RMB in 2024 to 14.66 billion RMB in 2026, with a compound growth rate of 6.0% [4][72] - Net profit attributable to shareholders is projected to be 1.53 billion RMB in 2024, 1.61 billion RMB in 2025, and 1.70 billion RMB in 2026, with growth rates of -35.8%, 5.6%, and 5.4%, respectively [4][72] - The company's dividend payout ratio has increased steadily, from 47.65% in 2021 to 49.19% in 2023, and is expected to remain stable [4][64] Strategic Initiatives - The company acquired Shandong Laoganbu Zhijia Magazine Co Ltd for 72.68 million RMB in 2023 to avoid competition with its parent group and strengthen its publishing business [4][69] - Shandong Publishing is actively expanding its digital and innovative businesses, including study tourism, smart education, and digital publishing, to drive future growth [3][12][62][63]

证券代码：601019 证券简称：山东出版 公告编号：2024-047 山东出版传媒股份有限公司 关于召开 2024 年第三季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： 会议召开时间：2024 年 11 月 26 日(星期二) 上午 10:00-11:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动问答方式 投资者可于 2024 年 11 月 19 日(星期二) 至 11 月 25 日(星期一)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zqflb@sdcbcm.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 山东出版传媒股份有限公司（以下简称"公司"）已于 2024 年 10 月 31 日发 布公司 2024 年第三季度报告，为便于广大投资者更全面深入地了解公司 2024 年三季度 ...

Investment Rating - The report maintains a "Buy" rating for Shandong Publishing (601019) [1][4] Core Views - Shandong Publishing's Q3 2024 performance faced short-term pressure, with revenue declining 9% YoY to RMB 2.6 billion and net profit attributable to shareholders dropping 40% YoY to RMB 220 million [2] - The company's study-tourism business is steadily progressing, with strategic cooperation agreements signed to develop high-quality cultural tourism products [3] - Despite near-term challenges, the report remains positive on the company's long-term prospects due to Shandong's large population driving sustained demand for books and the company's progress in study-tourism [4] Financial Performance Revenue and Profit - 2024 Q3 revenue decreased 9% YoY to RMB 2.6 billion, with gross profit also down 9% to RMB 800 million [2] - For the first nine months of 2024, revenue increased 6% YoY to RMB 8.5 billion, while net profit attributable to shareholders decreased 23% YoY to RMB 970 million [2] - 2024-2026 revenue forecasts are RMB 12.946 billion, RMB 14.264 billion, and RMB 15.054 billion respectively [1] Profit Margins - Q3 2024 gross margin remained stable at 32% YoY, while net margin attributable to shareholders decreased 4 percentage points to 8% [2] - For the first nine months of 2024, gross margin decreased 0.5 percentage points to 36%, and net margin attributable to shareholders decreased 4 percentage points to 11% [2] Business Segments Publishing Business - Publishing business revenue grew 0.3% YoY to RMB 2.6 billion in the first nine months of 2024, with gross margin increasing 1.5 percentage points to 28% [3] Distribution Business - Distribution business revenue increased 4% YoY to RMB 6 billion in the first nine months of 2024, with gross margin decreasing 0.9 percentage points to 32% [3] Strategic Developments - Shandong Xinhua Cultural Tourism Development Group signed a strategic cooperation agreement with Anhui Times Education to develop study-tourism products and routes [3] - The cooperation will focus on student study tours, high-end customized tourism, elderly health tourism, and cultural creative product development [3] Valuation and Forecasts - 2024-2026 EPS forecasts are RMB 0.73, RMB 0.83, and RMB 0.87 respectively [1] - Current P/E ratios for 2024-2026 are 14.68x, 12.87x, and 12.21x respectively [1] - 2024-2026 net profit attributable to shareholders forecasts are RMB 1.517 billion, RMB 1.730 billion, and RMB 1.824 billion respectively [9] Financial Position - As of 2023, the company had total assets of RMB 22.854 billion and total liabilities of RMB 7.991 billion [9] - The company's debt-to-asset ratio was 34.97% in 2023, expected to decrease to 30.96% by 2026 [10]

Investment Rating - The investment rating for Shandong Publishing is "Buy" (maintained) [1] Core Views - The company's performance in Q1-Q3 is stable, with steady operations in its main business and continuous advancement in innovative business models [1] - Revenue for Q1-Q3 reached 8.52 billion yuan, an increase of 5.8% year-on-year; however, net profit attributable to shareholders decreased by 22.7% to 1.32 billion yuan [1] - The decline in net profit is primarily attributed to a decrease in market revenue from educational materials, while total revenue and profit still show positive growth [1] Summary by Relevant Sections Financial Performance - Revenue (in million yuan): - 2022A: 11,215 - 2023A: 12,154 - 2024E: 12,761 - 2025E: 13,714 - 2026E: 14,873 - Year-on-year growth rates: - 2022A: 3% - 2023A: 8% - 2024E: 5% - 2025E: 7% - 2026E: 8% [1] Profitability Metrics - Net profit (in million yuan): - 2022A: 1,680 - 2023A: 2,376 - 2024E: 1,507 - 2025E: 1,680 - 2026E: 1,890 - Year-on-year growth rates: - 2022A: 10% - 2023A: 41% - 2024E: -37% - 2025E: 11% - 2026E: 13% [1] Earnings Per Share - Earnings per share (in yuan): - 2022A: 0.81 - 2023A: 1.14 - 2024E: 0.72 - 2025E: 0.80 - 2026E: 0.91 [1] Market Position and Strategy - The company is actively expanding its educational materials and general book categories, ensuring a robust promotion of new books [1] - In the innovative business sector, the company is advancing in smart education and cultural tourism, with strategic partnerships to enhance its offerings [1]

Topic 1: Financial Performance - Revenue increased by 15% year-over-year, driven by strong sales in the Asia-Pacific region [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8% due to increased marketing and R&D investments [3]. Topic 2: Market Expansion - The company successfully entered two new markets in Europe, contributing to a 20% increase in international sales [1]. - A new distribution center was opened in South America to support regional growth [4]. - Strategic partnerships were formed with local retailers in Southeast Asia to enhance market penetration [3]. Topic 3: Product Development - Launched three new products in the tech segment, which accounted for 25% of total revenue [2]. - R&D investment increased by 10% to accelerate innovation in the healthcare sector [4]. - The company plans to introduce a new line of eco-friendly products by the end of the year [1]. Topic 4: Operational Efficiency - Implemented a new supply chain management system, reducing logistics costs by 5% [3]. - Automation in manufacturing processes led to a 7% increase in production efficiency [2]. - The company achieved a 10% reduction in energy consumption across all facilities [4]. Topic 5: Strategic Initiatives - Announced a share buyback program to return value to shareholders [1]. - The company is exploring potential acquisitions in the fintech sector to diversify its portfolio [3]. - A new sustainability initiative was launched, aiming to achieve carbon neutrality by 2030 [4]. Topic 6: Risk Management - Identified potential risks in the supply chain due to geopolitical tensions and implemented contingency plans [2]. - Increased cybersecurity measures to protect against data breaches and cyber-attacks [3]. - The company is closely monitoring currency fluctuations to mitigate financial risks [1].

证券代码：601019 股票简称：山东出版 编号： 2024-045 山东出版传媒股份有限公司 关于2024年前三季度主要经营数据的公告 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。 山东出版传媒股份有限公司根据《上海证券交易所上市公司自律监管指引第 3 号——行业信息披露 第十一号 新闻出版》的相关规定，现将 2024 年前三季 度主要经营数据（未经审计）公告如下： 单位：万元 | | | 销售码洋 | | 营业收入 | | | 营业成本 | | | | 毛利率(%) | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 去年同期 | 本期 | 增长率 | 去年同期 | 本期 | 增长率 | 去年同期 | 本期 | 增长率 | 去年 | 本期 | 增 长 | | | | | （%） | | | （%） | | | （%） | 同期 | | 率 | | 出 | | | | | | | | | | | | ...

证券代码：601019 证券简称：山东出版 公告编号：2024-044 （一）审议通过了《关于公司 2024 年第三季度报告的议案》 本议案已经公司第四届董事会审计委员会 2024 年第七次会议审议全票通过， 并同意提交公司董事会审议。 山东出版传媒股份有限公司 审计委员会意见：公司 2024 年第三季度报告的编制和审议程序符合法律法规、 规范性文件、《公司章程》和公司内部管理制度的各项规定。公司 2024 年第三季度 报告的内容和格式符合中国证监会和上海证券交易所的各项规定，所包含的信息能 从各个方面真实、全面地反映公司本报告期内的财务状况和经营成果。同意公司 2024 年第三季度报告，并同意将该事项提交公司董事会审议。 第四届董事会第二十九次（临时）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。 重要内容提示： 一、董事会会议召开情况 山东出版传媒股份有限公司（以下简称"公司"）第四届董事会第二十九次（临 时）会议于 2024 年 10 月 30 日上午在公司会议室以现场会议方式召开，公司全体 董事于 202 ...