上海电影股份有限公司 （三） 对于必需的关联交易，严格依照法律法规和规范性文件加以规范； （四） 在必需的关联交易中，关联股东和关联董事应当执行《上市规则》、 《公司章程》等规定的回避表决制度； （五） 处理公司与关联人之间的关联交易，不得损害股东、特别是中小股 东的合法权益，必要时应聘请独立财务顾问或专业评估机构发表意见和报告； （六）应当披露的关联交易需经公司独立董事专门会议审议。 第三条 公司与关联方之间的关联交易行为除遵守有关法律、法规、规范性 文件和《公司章程》的规定外，还需遵守本细则的有关规定。 关联交易实施细则 第一章 总则 第一条 为规范上海电影股份有限公司（以下简称"公司"）关联交易，维 护公司投资者特别是中小投资者的合法权益，保证公司与关联人之间订立的关联 交易合同符合公平、公正、公开的原则，根据《中华人民共和国公司法》（以下 简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上海证券交易所股票上市规则》（以下简称"《上市规则》"）等有关法律、 法规、规范性文件及《上海电影股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，制定本细则。 第二条 公司与关 ...

上海电影股份有限公司 第四条 本委员会设召集人一名，由独立董事担任，负责主持委员会工作。 第五条 召集人和委员由董事长、二分之一以上独立董事或全体董事的三 分之一以上提名，由公司董事会选举产生。 第六条 本委员会任期与董事会任期一致，委员任期届满，可以连选连任。 期间如有委员不再担任公司董事或独立董事职务，为使本委员会的人员组成符合 本工作规则的要求，董事会应根据本工作规则第五条规定及时补足委员人数，补 充委员的任职期限截至该委员担任董事或独立董事的任期结束。 薪酬与考核委员会工作规则 第一章 总则 第一条 为进一步建立健全上海电影股份有限公司（以下简称"公司"） 董事及高级管理人员的考核和薪酬管理制度，完善公司治理结构，公司特设立董 事会薪酬与考核委员会（以下简称"本委员会"），作为负责制订、管理与考核公 司董事及高级管理人员薪酬制度的专门机构。 第二条 为确保本委员会规范、高效地开展工作，公司董事会根据《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》和《上海电 影股份有限公司章程》（以下简称"《公司章程》"）等有关规定，特制定本规则。 第二章 人员组成与职责 第三条 本委员会由三 ...

上海电影股份有限公司 内部审计制度 第一章 总则 第一条 为进一步规范上海电影股份有限公司（以下简称"公司"）内部审 计工作，提高内部审计工作质量，实现公司内审计工作规范化、标准化，发挥内 部审计工作在促进公司经济管理、提高经济效益中的作用，根据《企业内部控制 基本规范》、《上市公司审计委员会工作指引》、《上海证券交易所上市公司自 律监管指引第1号——规范运作》、《公开发行证券的公司信息披露编报规则第 21号——年度内部控制评价报告的一般规定》等有关法律、法规和其他规范性文 件以及《上海电影股份有限公司章程》（以下简称"《公司章程》"）的规定,并结 合公司实际情况制定本制度。 第二条 本制度所称职能部门是指公司各职能部门。 第三条 本制度所称内部审计，是指公司内部审计机构或人员依据国家有关 法律法规和本制度的规定，对公司、各职能部门、公司控股子公司以及具有重大 影响的参股公司的内控制度和风险管理的有效性、财务信息的真实性和完整性以 及经营活动的效率和效果开展一种评价工作。 第四条 本制度所称内部控制，是指公司董事会、审计委员会、高级管理人 员及其他有关人员为实现下列目标而提供合理保证的过程： 第五条 本制度适 ...

证券代码：601595 证券简称：上海电影 公告编号：2025-031 上海电影股份有限公司 关于修订《公司章程》及修订、制定公司部分制度并 取消监事会的公告 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。 为进一步完善公司治理结构，提升公司规范运作水平，根据《中华人民共和 国公司法（2023 修订）》《上市公司章程指引（2025 年修订）》以及中国证监 会发布的《关于新<公司法>配套制度规则实施相关过渡期安排》等法律法规、规 范性文件的规定及监管要求，结合上海电影股份有限公司（以下简称公司）实际 情况，公司于 2025 年 11 月 28 日召开了第五届董事会第十次会议，审议通过了 《关于修订<公司章程>并取消监事会的议案》《关于修订、制定公司部分制度的 议案》。具体如下： 一、公司章程修订情况 根据《中华人民共和国公司法（2023 修订）》《上市公司章程指引（2025 年修订）》《关于新<公司法>配套制度规则实施相关过渡期安排》等法律法规、 规范性文件的规定及监管要求，公司将取消监事会，并废止《监事会议事规则》， 由董事会 ...

证券代码：601595 证券简称：上海电影 公告编号：2025-030 上海电影股份有限公司 第五届监事会第七次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 1 表决结果：5 票赞成，0 票反对，0 票弃权。 本议案尚需提交公司股东大会审议。 具体内容请详见同日披露的《关于修订<公司章程>及修订、制定公司部分制 度并取消监事会的公告》（公告编号：2025-031）。 特此公告。 上海电影股份有限公司监事会 2025 年 11 月 29 日 上海电影股份有限公司（以下简称公司）于 2025 年 11 月 28 日以通讯表决 的方式召开了第五届监事会第七次会议（以下简称本次会议）。本次会议通知及 会议材料已于 2025 年 11 月 22 日通过电子邮件方式送达全体监事，本次会议应 出席监事 5 名，实际出席监事 5 名，出席监事占应出席人数的 100%，会议由监 事会主席郑英豪先生主持。本次会议的召集、召开程序符合《中华人民共和国公 司法》等相关法律、法规及《上海电影股份有限公司章程》的规 ...

证券代码：601595 证券简称：上海电影 公告编号：2025-029 上海电影股份有限公司 第五届董事会第十次会议决议公告 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。 一、董事会会议召开情况 上海电影股份有限公司（以下简称公司）于 2025 年 11 月 28 日以通讯表决 的方式召开了第五届董事会第十次会议（以下简称本次会议）。本次会议通知及 会议材料已于 2025 年 11 月 22 日通过电子邮件方式送达全体董事，本次会议应 出席董事 8 名，实际出席董事 8 名，出席董事占应出席人数的 100%，会议由董 事长王隽女士主持。本次会议召集、召开程序符合《中华人民共和国公司法》等 相关法律、法规及《上海电影股份有限公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 1．审议通过《关于修订<公司章程>并取消监事会的议案》 表决结果：8 票赞成，0 票反对，0 票弃权。 本议案尚需提交公司股东大会审议。 具体内容请详见同日披露的《关于修订<公司章程>及修订、制定公司部分制 度并取消监事会的公告》（公告编号：2 ...

Group 1 - The core opportunity in the internet and media sectors for 2025 is centered around AI revaluation, particularly in cloud computing, and the globalization and youth-oriented trends in self-consumption, such as trendy toys, music, and concerts [3][4] - AI cloud capital expenditure (capex) is expected to expand in its second year, with a focus on return on investment (ROI) from AI investments, making capex/operating cash flow a key metric for investors [3][4] - Major companies to watch in the AI cloud space include Alibaba, Baidu, and Kingsoft Cloud, which are focusing on domestic production and infrastructure [3][12] Group 2 - The AI application landscape is shifting from conceptual discussions to a focus on commercial viability, with significant developments in AI advertising and video monetization expected in 2026 [3][4] - Tencent, Bilibili, Meitu, Kuaishou, and Focus Technology are highlighted as key players in the AI application ecosystem, with a particular emphasis on the monetization of chatbot applications and the evolution of AI video tools into community platforms [3][4] - The gaming sector is seeing structural opportunities driven by Generation Z and international expansion, with a focus on companies like Giant Network, Century Huatong, and Xindong Company [3][4] Group 3 - The self-consumption trend is expected to continue, with gaming, music, and trendy toys being key areas of growth, particularly as the market adjusts post-2025 [3][4] - The video sector is anticipated to reach a turning point, with policy stabilization and diverse monetization strategies being crucial for growth [3][4] - Companies such as Mango Super Media, Shanghai Film, and Reading Group are positioned to benefit from these trends [3][4] Group 4 - The report indicates a recovery in companies like Focus Media, Vision Source, and educational publishing firms, suggesting a positive outlook for these sectors [3][4] - The report emphasizes the importance of continuous performance and valuation adjustments in the context of evolving market conditions [3][4] Group 5 - The domestic cloud computing market is witnessing increased capital expenditure from major internet companies, with Alibaba and Tencent leading the charge [18][19] - The report highlights the importance of measuring the health of cloud investments through the capex/operating cash flow ratio, with Tencent's ratio being notably lower than its peers [19][29] - AI-driven cloud services are expected to maintain higher profit margins compared to traditional cloud offerings, with a focus on internal workload efficiencies [29][30] Group 6 - The report outlines the competitive landscape of AI applications, noting that Chinese companies are making significant strides in the global market, particularly in productivity tools and content generation [34][35] - The emergence of ChatGPT as a multi-functional platform is reshaping the AI application ecosystem, with significant implications for user engagement and commercial applications [35][39] - Advertising remains a critical area for AI commercialization, with companies like Meta, Tencent, and Bilibili leveraging AI to enhance ad performance and efficiency [43][49]

Market Overview - On November 27, the Shanghai Composite Index closed at 3875.26 points, up 0.29%, with a trading volume of 698.5 billion yuan. The Shenzhen Component Index closed at 12875.19 points, down 0.25%, with a trading volume of 1011.275 billion yuan. The ChiNext Index closed at 3031.30 points, down 0.44%, with a trading volume of 499.106 billion yuan. The total trading volume of both markets was 1709.775 billion yuan, a decrease of 73.552 billion yuan compared to the previous trading day [1]. Sector Performance - The chemical, light manufacturing, petroleum and petrochemical, coal, beauty care, and public utilities sectors showed the highest gains. Concepts such as organic silicon, solid-state batteries, and AI mobile phones were particularly active. In contrast, sectors like media, retail, computer, real estate, and transportation experienced declines [2]. Stock Performance - A total of 2732 stocks rose while 2227 stocks fell, with 195 stocks remaining flat and 15 stocks suspended. Excluding newly listed stocks, there were 63 stocks that hit the daily limit up, while 14 stocks hit the limit down [2]. Fund Flow - The net outflow of main funds in the Shanghai and Shenzhen markets was 18.622 billion yuan, with the ChiNext experiencing a net outflow of 9.423 billion yuan. The most significant net inflow was seen in the light manufacturing sector, amounting to 471 million yuan [4]. Individual Stock Highlights - Among individual stocks, ZTE Corporation (000063) had the highest net inflow of main funds at 915 million yuan, followed by Annie Co., Ltd. (002235) with 398 million yuan and Shannon Technology with 384 million yuan [8][9]. - Conversely, Zhongji Xuchuang (300308) experienced the largest net outflow of 1.479 billion yuan, followed by Huadian Electric (002463) with 954 million yuan and CATL (300750) with 806 million yuan [11][12]. Institutional Activity - Institutions had a net buy of 9 stocks, with Haike New Source being the most purchased stock at approximately 133 million yuan. The most sold stock was Shanghai Film, with a net sell of about 86.869 million yuan [14][15].

Core Viewpoint - The film and cinema sector has experienced a significant surge, with notable stocks such as China Film reaching their daily limit up, indicating strong market interest and potential growth in the industry [1] Group 1: Stock Performance - China Film (600977) has seen a price increase of 9.99% to 17.29, with a one-year growth of 49.70% [2] - Golden Screen Cinemas (002905) rose by 5.44% to 11.82, with a one-year increase of 54.51% [2] - Happiness Blue Sea (300528) increased by 5.29% to 21.90, showing a remarkable one-year growth of 133.23% [2] - Bona Film Group (001330) experienced a 3.93% rise to 7.14, with a one-year growth of 19.80% [2] - Shanghai Film (601595) saw a 2.70% increase to 31.90, with a one-year growth of 16.13% [2] - Hengdian Film (603103) rose by 2.37% to 16.88, with a one-year increase of 27.01% [2] - Wanda Film (002739) increased by 1.96% to 11.43, but has a negative one-year growth of -5.38% [2] - Tianfu Cultural Tourism (000558) rose by 1.72% to 5.93, with a one-year growth of 108.07% [2] - Delixi Holdings (002571) increased by 1.63% to 8.74, with a one-year growth of 90.00% [2]

Core Viewpoint - The film industry sector has experienced a significant surge, with China Film hitting the daily limit, and other companies such as Jinyi Films, Happiness Blue Sea, Bona Film Group, Hengdian Film, and Shanghai Film also seeing increases in their stock prices [1] Group 1 - The stock price of China Film has reached the daily limit, indicating strong investor interest and confidence in the company [1] - Other film companies, including Jinyi Films, Happiness Blue Sea, Bona Film Group, Hengdian Film, and Shanghai Film, have followed suit with notable stock price increases [1]