证券代码：601098 证券简称：中南传媒 公告编号:临 2025-023 中南出版传媒集团股份有限公司 关于全资子公司签订采购合同的公告 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： 中南出版传媒集团股份有限公司（以下简称"公司"或"中南传媒"） 全资子公司湖南省新华书店有限责任公司（以下简称"湖南省新华书店"） 与湖南省教育厅签订《政府采购合同协议书》（以下简称"采购合同"），合 同总价100906万元。 合同类型：政府采购合同。 对公司业绩的影响：通过本次采购合同的签订，公司继续成为2025 年度湖南省义务教育免费教科书、既定的教学辅助学习资源（小学一年级 学生字典等）、专题教育读本和地方课程教材的供应商，确保了公司主营业 务收入的稳定性，对公司2025年度的生产经营产生积极影响。 一、交易概述 根据《中华人民共和国民法典》《中华人民共和国政府采购法》及其他 有关法律、法规、规章，湖南省新华书店与湖南省教育厅于 2025 年 5 月 21 1 / 5 日签订《政府采购合同协议书》。2025 年湖南省义务 ...

Group 1 - The core point of the article is that Zhongnan Publishing (601098) has signed a government procurement contract worth 1.009 billion yuan with the Hunan Provincial Department of Education, which will positively impact the company's main business revenue stability and production operations in 2025 [1] Group 2 - The contract type is classified as a government procurement contract, indicating a secure revenue stream for the company [1] - The total contract value is 1.009 billion yuan, which is significant for the company's financial outlook [1] - The signing of this contract is expected to have a positive effect on the company's operations in the fiscal year 2025 [1]

Group 1 - The core viewpoint of the news is that the A-share market is expected to gradually break away from the sideways trading range seen since the second half of last year, supported by strong market stabilization measures and improving economic conditions [1] - The CSI 500 Quality Growth Index, which includes 100 companies with high profitability and sustainable earnings, is closely tracked by the CSI 500 Quality Growth ETF [2] - As of April 30, 2025, the top ten weighted stocks in the CSI 500 Quality Growth Index account for 24.07% of the index, with notable companies including Chifeng Jilong Gold, Ninebot, and Kaiying Network [2] Group 2 - The CSI 500 Quality Growth ETF has seen a recent decline of 0.32%, with a latest price of 0.94 yuan and a trading volume of 126.29 million yuan [1] - The ETF's average daily trading volume over the past week was 596.99 million yuan, ranking it first among comparable funds [1] - The performance of individual stocks within the index varied, with Lijun Group leading with a 2.13% increase, while Wanxiang Qianchao experienced a significant drop of 6.72% [1][3]

证券代码：601098 证券简称：中南传媒 公告编号：2025-022 中南出版传媒集团股份有限公司 2024年年度股东大会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 5 月 20 日 (二)股东大会召开的地点：湖南省长沙市开福区营盘东路 38 号公司办公楼十楼 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 193 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,388,679,102 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 77.3206 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，由董事长贺砾辉主持，采用现场投票和网 络投票相结合的表决方式。会议召开符合《公司法》和《公 ...

湖南启元律师事务所 关于中南出版传媒集团股份有限公司 2024 年年度股东大会的 法律意见书 2025年5月 致:中南出版传媒集团股份有限公司 1、2025年4月24日,公司第六届董事会第二次会议审议通过《关于召开 公司 2024年年度股东大会的议案》,决定于 2025年 5 月 20 日召开本次股东大 会。本次股东大会的召集人为公司董事会。 2、公司董事会于 2025年 4 月 26 日在《中国证券报》《上海证券报》《证 湖南启元律师事务所(以下简称"本所")接受中南出版传媒集团股份有限公 司(以下简称"公司")委托,指派律师出席公司 2024年年度股东大会(以下简 称"本次股东大会")。根据《中华人民共和国公司法》(以下简称"《公司法》") 《上市公司股东会规则》(以下简称"《股东会规则》")等中国现行法律、法规、 规章和规范性文件以及《中南出版传媒集团股份有限公司章程》(以下简称"《公 司章程》")的相关规定,就公司本次股东大会的召集、召开程序、出席会议的 人员资格、召集人资格、表决程序及表决结果等事宜出具本法律意见书。 为出具本法律意见书,本所律师出席了本次股东大会,并核查和验证了公司 提供的与本次股 ...

中南出版传媒集团股份有限公司 China South Publishing & Media Group Co.,Ltd 二〇二五年五月二十日 议案一： 关于公司董事会 2024 年度工作报告的议案 各位股东及股东代表： 指引，深入学习贯彻习近平文化思想，牢牢把握新时代新的文化 使命，深入实施"文化+科技"战略，不断壮大主流价值、主流舆论、 主流文化，坚持社会效益和经济效益相统一。公司连续十六届入 选全国文化企业 30 强。公司董事会总结 2024 年工作情况，分析 未来发展形势，谋划 2025 年工作思路，形成了董事会 2024 年度 工作报告，请各位股东及股东代表审议。 二〇二五年五月二十日 附件： 中南出版传媒集团股份有限公司董事会 各位股东及股东代表： 现将公司董事会 2024 年度工作报告如下: 一、报告期内公司主要经营情况 指引，深入学习贯彻习近平文化思想，牢牢把握新时代新的文化 使命，深入实施"文化+科技"战略，不断壮大主流价值、主流舆论、 主流文化，坚持社会效益和经济效益相统一。公司连续十六届入 选全国文化企业 30 强。报告期内，公司实现营业收入 133.5 亿元， 同比下降 1.94%；扣非 ...

中南出版传媒集团股份有限公司 China South Publishing & Media Group Co.,Ltd 2024 年年度股东大会会议资料 议案一： 二〇二五年五月二十日 2024 年，公司坚持以习近平新时代中国特色社会主义思想为 指引，深入学习贯彻习近平文化思想，牢牢把握新时代新的文化 使命，深入实施"文化+科技"战略，不断壮大主流价值、主流舆论、 主流文化，坚持社会效益和经济效益相统一。公司连续十六届入 选全国文化企业 30 强。公司董事会总结 2024 年工作情况，分析 未来发展形势，谋划 2025 年工作思路，形成了董事会 2024 年度 工作报告，请各位股东及股东代表审议。 关于公司董事会 2024 年度工作报告的议案 附件：中南出版传媒集团股份有限公司董事会 2024 年度工作报告 中南出版传媒集团股份有限公司董事会 二〇二五年五月二十日 1 附件： 中南出版传媒集团股份有限公司董事会 2024 年度工作报告 各位股东及股东代表： 现将公司董事会 2024 年度工作报告如下: 一、报告期内公司主要经营情况 各位股东及股东代表： 2024 年，公司坚持以习近平新时代中国特色社会主义思想 ...

Investment Rating - The report maintains an "Overweight" rating for the media industry [6] Core Insights - The media industry faced significant pressure in 2024, with a notable recovery in Q1 2025, where the industry saw a revenue increase of 4.5% year-on-year, reaching 134.25 billion yuan, and a net profit growth of 44.9%, amounting to 10.97 billion yuan [13][10] - The gaming sector experienced substantial growth in Q1 2025, with revenues of 26.83 billion yuan, up 21.0% year-on-year, and net profits of 3.46 billion yuan, reflecting a 42.6% increase [2][18] - The internet sector reported a revenue decline of 24.7% year-on-year in Q1 2025, totaling 20.08 billion yuan, while net profit slightly increased by 0.2% to 680 million yuan [3] - The marketing sector showed signs of recovery in Q1 2025, with revenues of 44.04 billion yuan, down only 0.6% year-on-year, and a marginal decline in net profit of 0.7% [4] - The film industry, after facing challenges in 2024, showed recovery signs in Q1 2025 with revenues of 8.09 billion yuan, up 21.8%, and a significant net profit increase of 125.5% [5] Summary by Sections Media Industry - In 2024, the media industry reported a revenue of 549.95 billion yuan, down 0.7%, and a net profit of 17.34 billion yuan, down 55.7% [13] - Q1 2025 saw a recovery with revenues of 134.25 billion yuan and net profits of 10.97 billion yuan [13] Gaming Sector - The gaming market in 2024 achieved a revenue of 325.78 billion yuan, growing by 7.53% [19] - In Q1 2025, the gaming sector's revenue reached 26.83 billion yuan, with a net profit of 3.46 billion yuan [2][18] - The performance varied significantly among companies, with some achieving over 50% growth in net profit [28][31] Internet Sector - The internet sector's revenue in Q1 2025 was 20.08 billion yuan, reflecting a 24.7% decline [3] - The net profit was 680 million yuan, showing a slight increase of 0.2% [3] Marketing Sector - The marketing sector's revenue in 2024 was 189.25 billion yuan, with a slight increase of 3.9% [4] - In Q1 2025, revenues were 44.04 billion yuan, down 0.6%, with a net profit decline of 0.7% [4] Film Industry - The film industry faced a revenue decline in 2024, totaling 21.66 billion yuan, down 17.2% [5] - Q1 2025 revenues were 8.09 billion yuan, with a net profit increase of 125.5% [5]

Core Insights - The company reported a revenue of 13.349 billion yuan in 2024, a year-on-year decrease of 1.94%, and a net profit attributable to shareholders of 1.370 billion yuan, down 26.12% year-on-year [1][2] - In Q1 2025, the company achieved a revenue of 2.874 billion yuan, a decline of 4.18% year-on-year, while the net profit attributable to shareholders increased by 29.99% to 369 million yuan [1] Revenue Breakdown - The publishing segment generated a revenue of 3.742 billion yuan in 2024, an increase of 3.90% year-on-year, driven by enhanced promotion in the provincial textbook market [2] - The media segment achieved a revenue of 859 million yuan, up 4.90% year-on-year, benefiting from the company's multi-media strategy [2] - The printing segment reported a revenue of 1.104 billion yuan, a slight increase of 0.29% year-on-year [2] Expense Analysis - Sales expenses rose by 2.34% year-on-year due to increased marketing efforts in provincial markets [3] - Management expenses increased by 6.04% year-on-year, primarily due to natural growth in labor costs [3] - Research and development expenses remained stable, with a slight decrease of 1.10% year-on-year [3] Strategic Initiatives - The company is advancing its "e-tang hao ke" project, which integrates educational publishing resources and technology to create a comprehensive smart education product system [3] - The project aims to provide high-quality digital course services and has received positive feedback from users [3] Financial Health - As of Q1 2025, the company had a cash and cash equivalents balance of 7.347 billion yuan [4] - The company has maintained an active dividend policy, with cumulative cash dividends reaching 3.053 billion yuan over the past three years [4] - The total dividend amount for 2024 was 808 million yuan, resulting in a distribution ratio of 72% [4]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 17.10 [7][8] Core Views - The company reported a revenue of RMB 13.349 billion for 2024, a year-over-year decrease of 1.94%, but the net profit attributable to the parent company was RMB 1.370 billion, which is higher than previous expectations [1] - The overall gross margin improved to 44.35% in 2024, up by 3.00 percentage points year-over-year, primarily due to a decrease in paper costs and adjustments in revenue structure [3] - The publishing business revenue grew by 3.9% in 2024, driven by increased efforts in promoting educational materials outside the province [2] Revenue and Profitability - The company’s revenue for Q1 2025 was RMB 28.74 billion, a decrease of 4.18% year-over-year, while the net profit attributable to the parent company increased by 29.99% to RMB 3.69 billion [1] - The adjusted net profit forecasts for 2025-2027 are RMB 1.702 billion, RMB 1.751 billion, and RMB 1.786 billion respectively, reflecting a significant increase from previous estimates [4] Cost Structure and Margins - The gross margin for Q1 2025 reached 45.29%, an increase of 4.41 percentage points year-over-year, attributed to lower paper costs and a shift in revenue structure [3] - The report indicates that the company is focusing on reducing the scale of low-margin products, which has positively impacted overall profitability [2][3] Market Position - The company holds a 5.37% market share in the national retail book market, ranking second, and a 5.88% share in the online book retail market, also ranking second [2] - The company is recognized as a leader in the educational publishing industry, demonstrating stable operations and a commitment to enhancing its market presence [1][2]