证券代码：601801 证券简称：皖新传媒 公告编号：临2025-031 安徽新华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》， 现将2025年半年度主要经营数据概况（未经审计）公告如下： 特此公告。 安徽新华传媒股份有限公司董事会 2025年8月30日 单位：万元 项目 销售码洋 营业收入 营业成本 毛利率（%） 上年同期 本期 增长率 （%） 上年同期 本期 增长率 （%） 上年同期 本期 增长率 （%） 上年同期 本期 比上年增减 教材 77,554.82 71,889.40 -7.31 72,774.75 67,029.97 -7.89 55,265.99 50,307.63 -8.97 24.06 24.95 增加0.89个百分点 一般图书及 音像制品 295,322.76 239,237.57 -18.99 243,594.19 198,817.47 -18.38 149,688.79 124,353.50 -16.93 38.55 37.45 减少1.10个百分点 安徽新华传媒股份有限公司 2025 年半年度主要经营数据的公告 本公司董事会及 ...

证券代码：601801 证券简称：皖新传媒 公告编号：临 2025-035 安徽新华传媒股份有限公司 关于取消监事会并修订《公司章程》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。 2025 年 8 月 28 日，安徽新华传媒股份有限公司（以下简称公司）召开第四 届董事会第四十次会议及第四届监事会第三十三次会议，分别审议通过《公司关 于取消监事会并修订<公司章程>的议案》，具体情况公告如下： 一、取消监事会并修订《公司章程》的相关情况 根据《公司法》、中国证监会《关于新配套制度规则实施相关过渡期安排》 《上市公司章程指引》等相关法律法规的规定，结合公司实际情况，公司将不再 设置监事会与监事，由董事会审计委员会行使《公司法》规定监事会的相关职权， 相应废止《安徽新华传媒股份有限公司监事会议事规则》《安徽新华传媒股份有 限公司监事会工作制度》，公司各项规章制度中涉及监事会、监事的规定不再适 用，并相应修订《公司章程》。 在公司股东大会审议通过取消监事会及修订《公司章程》事项前，公司第四 届监事会仍将严格按照法律法规和规范性 ...

证券代码：601801 证券简称：皖新传媒 公告编号：临 2025-036 安徽新华传媒股份有限公司 关于制定、修订部分治理制度的公告 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。 2025 年 8 月 28 日，安徽新华传媒股份有限公司（以下简称公司）召开第四 届董事会第四十次会议，审议通过了《公司关于制定、修订部分治理制度的议案》。 年第一次临时股东大会审议批准，其他制度自本次董事会会议审议通过之日起生 效实施。 特此公告。 安徽新华传媒股份有限公司董事会 2025 年 8 月 30 日 2 为进一步完善公司治理制度，提高公司治理水平，根据《公司法》《上市公 司章程指引》《上市公司募集资金监管规则》《上海证券交易所股票上市规则》《上 海证券交易所上市公司自律监管指引第 1 号——规范运作》等法律法规、规范性 文件的规定，结合实际情况，公司制定了相关制度，并对部分治理制度进行修订。 具体情况如下： | 序号 | 制度名称 | 制定/修订 | 是否提交股 东大会审议 | | --- | --- | --- | --- | | ...

证券代码：601801 证券简称：皖新传媒 公告编号：临 2025-039 安徽新华传媒股份有限公司 关于召开 2025 年半年度业绩说明会的预告公告 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：2025年9月12日（星期五）15:00-16:00 ●会议召开地点：上海证券报•中国证券网(https://roadshow.cnstock.com/) ●会议召开方式：网络文字直播互动方式 ●问题征集方式：投资者可于2025年9月11日（星期四）17:00前将相关问题通过 电子邮件方式发送公司邮箱：ir@wxm.com。公司将在说明会上就投资者普遍关注的问 题，在信息披露允许的范围内进行说明。 一、说明会类型 安徽新华传媒股份有限公司（以下简称皖新传媒或公司）于2025年8月30日披露《皖 新传媒2025年半年度报告》，为使广大投资者更加全面深入地了解公司经营业绩、发展 战略等情况，公司定于2025年9月12日（星期五）15:00-16:00以网络文字直播互动方 式召开业绩说明会，就投资者普遍关 ...

安徽新华传媒股份有限公司 关于召开2025年第一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。 重要内容提示： 一、召开会议的基本情况 证券代码：601801 证券简称：皖新传媒 公告编号：临 2025-038 (一)股东大会类型和届次 2025年第一次临时股东大会 (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：2025 年 9 月 16 日 14 点 30 分 召开地点：安徽省合肥市包河区云谷路 1718 号 2806 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2025 年 9 月 16 日 至2025 年 9 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台 ...

证券代码：601801 证券简称：皖新传媒 公告编号:临 2025-033 安徽新华传媒股份有限公司 第四届监事会第三十三次会议决议公告 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。 重要内容提示： 一、监事会会议召开情况 （五）本次会议由监事韦薇女士主持。 二、监事会会议审议情况 （一）《公司 2025 年半年度报告全文及摘要》 表决结果：同意 3 票，反对 0 票，弃权 0 票，本议案获得通过。 监事会认真审阅《公司 2025 年半年度报告全文和摘要》，认为： 1.公司半年度报告的编制和审议程序符合法律、法规、公司章程和公司有关 管理制度的各项规定； 2.公司半年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地反映出公司 2025 年半年度的经营情况 和财务状况； （一）安徽新华传媒股份有限公司（以下简称公司）第四届监事会第三十三 次会议（以下简称本次会议）的召开符合《公司法》和《公司章程》等有关法律 法规的规定，会议的召集、召开合法有效。 （二）公司于 2025 年 8 月 ...

安徽新华传媒股份有限公司 独立董事管理办法 第一章 总则 第一条 为进一步规范安徽新华传媒股份有限公司（以下简 称公司）独立董事行为，充分发挥独立董事在公司治理中作用， 促进提高公司质量，依据《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》《国务院办公厅关 于公司独立董事制度改革的意见》《上市公司独立董事管理办 法》以及《公司章程》等规定，制定本办法。 第二条 独立董事是指不在公司担任除董事外的其他职务， 并与其所受聘的公司及其主要股东、实际控制人不存在直接或 者间接利害关系，或者其他可能影响其进行独立客观判断关系 的董事。 独立董事独立履行职责，不受公司及其主要股东、实际控 制人等单位或者个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义务， 按照法律、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、上海证券交易所（以下简称上交所）业务规 则和《公司章程》的规定，认真履行职责，在董事会中发挥参 与决策、监督制衡、专业咨询作用，维护公司整体利益，保护 中小股东合法权益。 （一）在公司或者其附属企业任职的人员及其配偶、父母、 子女、主要社会关系； （二）直接或者 ...

安徽新华传媒股份有限公司 利润分配管理制度 第一章 总则 第一条 为规范安徽新华传媒股份有限公司（以下简称 公司）的利润分配行为，健全完善科学、持续、稳定的分 配政策和决策、监督机制，切实保护中小投资者合法权益， 根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司监管指引第3号——上市公司现金分红》《上海 证券交易所上市公司自律监管指引第1号——规范运作》等 有关法律、法规、规范性文件和《公司章程》的相关规定， 结合公司实际情况，制定本制度。 第二条 公司制定利润分配政策尤其是现金分红政策时， 应当按照法律法规、上海证券交易所相关规定及《公司章 程》履行必要的决策程序。董事会应当就股东回报事宜进 行专项研究论证，制定明确、清晰的股东回报规划，详细 说明规划安排的依据和理由等情况。公司应当通过多种渠 道（包括但不限于电话、传真、邮箱、互动平台等）充分 听取独立董事以及中小股东的意见，做好利润分配事项的 信息披露。 第三条 公司控股股东、实际控制人不得通过利润分配 的方式损害公司利益，侵害公司财产权利，谋取公司商业 机会。 公积金弥补公司亏损，先使用任意公积金和法定公积 金；仍不能弥补的，可以按照规 ...

Important Notice This section outlines the company's commitment to report accuracy and highlights forward-looking statements and associated investment risks [Statement by the Board of Directors, Supervisory Board, and Senior Management](index=2&type=section&id=Statement%20by%20the%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20and%20Senior%20Management) The company's Board of Directors, Supervisory Board, and all senior management guarantee the truthfulness, accuracy, and completeness of this semi-annual report, which remains unaudited - The company's Board of Directors, Supervisory Board, and all senior management guarantee the truthfulness, accuracy, and completeness of the report content[3](index=3&type=chunk) - The semi-annual report is unaudited[3](index=3&type=chunk) [Forward-Looking Statements and Risk Warnings](index=2&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Warnings) This report contains forward-looking statements regarding future plans, which do not constitute a substantive commitment, and investors should be aware of investment risks - This report involves future plans and other forward-looking statements, which do not constitute a substantive commitment by the company to investors; investors are advised to be aware of investment risks[3](index=3&type=chunk) - The company has detailed potential risks in the "Management Discussion and Analysis" section, which investors are encouraged to review[3](index=3&type=chunk) Definitions This section provides definitions for common terms and entities used throughout the report, including the reporting period and key corporate identifiers [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This chapter defines common terms, key entities like the CSRC and SSE, currency units, and the reporting period from January 1 to June 30, 2025 - The reporting period is defined as **January 1, 2025 to June 30, 2025**[8](index=8&type=chunk) - Clarifies that "the Company" and "Wanxin Media" refer to Anhui Xinhua Media Co., Ltd[8](index=8&type=chunk) Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, stock information, and key financial performance metrics [Company Basic Information](index=4&type=section&id=Company%20Basic%20Information) This chapter introduces the company's Chinese name, abbreviation, foreign name, and legal representative Zhang Kewen - The company's Chinese name is Anhui Xinhua Media Co., Ltd., abbreviated as **Wanxin Media**[10](index=10&type=chunk) - The legal representative is **Zhang Kewen**[10](index=10&type=chunk) [Contact Information](index=4&type=section&id=Contact%20Information) Contact details for the Board Secretary Xiao Xiaoying and Securities Affairs Representative Jia Hong are provided for investor communication - The Board Secretary is **Xiao Xiaoying**, and the Securities Affairs Representative is **Jia Hong**[11](index=11&type=chunk) - The company's contact address is No. 1718 Yungulu, Baohe District, Hefei City, and the email is **ir@wxm.com**[11](index=11&type=chunk) [Changes in Company Registered Address](index=4&type=section&id=Changes%20in%20Company%20Registered%20Address) The company's registered address has changed multiple times, with the latest location in Hefei City, Anhui Province - The company's registered address changed multiple times in **2015, 2023, and 2024**[12](index=12&type=chunk) - The latest registered address is No. 1718 Yungulu, Wannianbu Street, Baohe District, Hefei City, Anhui Province[12](index=12&type=chunk) [Information Disclosure Channels](index=5&type=section&id=Information%20Disclosure%20Channels) The company designates four newspapers for information disclosure, with the semi-annual report available on the Shanghai Stock Exchange website - The company designates four newspapers for information disclosure, including **"Shanghai Securities News"** and **"China Securities Journal"**[14](index=14&type=chunk) - The semi-annual report can be viewed on the Shanghai Stock Exchange website (**www.sse.com.cn**)[14](index=14&type=chunk) [Company Stock Information](index=5&type=section&id=Company%20Stock%20Information) The company's A-shares are listed on the Shanghai Stock Exchange under the abbreviation Wanxin Media and stock code 601801 - The company's stock type is **A-shares**, listed on the **Shanghai Stock Exchange**[15](index=15&type=chunk) - The stock abbreviation is **Wanxin Media**, and the stock code is **601801**[15](index=15&type=chunk) [Key Accounting Data and Financial Indicators](index=5&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) Operating revenue decreased by 11.90% year-on-year, while net profit attributable to shareholders increased by 17.19%, and net cash flow from operating activities grew by 19.66% Key Accounting Data (Jan-Jun 2025 vs. Prior Year Period) | Indicator | Current Period (Jan-Jun) (CNY) | Prior Year Period (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,592,761,616.09 | 5,212,996,004.77 | -11.90 | | Total Profit | 691,993,901.22 | 763,554,473.84 | -9.37 | | Net Profit Attributable to Shareholders of Listed Company | 678,080,677.90 | 578,595,769.70 | 17.19 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 558,729,364.55 | 609,469,657.60 | -8.33 | | Net Cash Flow from Operating Activities | 1,124,227,407.42 | 939,502,218.90 | 19.66 | Key Financial Indicators (Jan-Jun 2025 vs. Prior Year Period) | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (CNY/share) | 0.35 | 0.29 | 20.69% | | Diluted Earnings Per Share (CNY/share) | 0.35 | 0.29 | 20.69% | | Basic EPS After Non-Recurring Gains/Losses (CNY/share) | 0.29 | 0.31 | -6.45% | | Weighted Average Return on Net Assets (%) | 5.74 | 4.86 | Increased by 0.88 percentage points | | Weighted Average Return on Net Assets After Non-Recurring Gains/Losses (%) | 4.73 | 5.12 | Decreased by 0.39 percentage points | Balance Sheet Data (End of Reporting Period vs. End of Prior Year) | Indicator | End of Current Period (CNY) | End of Prior Year (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Net Assets Attributable to Shareholders of Listed Company | 11,949,885,331.54 | 11,466,938,343.50 | 4.21 | | Total Assets | 19,030,898,854.40 | 19,293,199,218.39 | -1.36 | [Non-Recurring Gains and Losses](index=6&type=section&id=Non-Recurring%20Gains%20and%20Losses) Total non-recurring gains and losses amounted to **119.35 million yuan**, primarily from fair value changes in financial assets, government subsidies, and non-operating income Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (CNY) | Notes (if applicable) | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 434,686.77 | Mainly due to asset disposal and write-offs during the reporting period | | Government Subsidies Included in Current Period P&L | 5,566,281.15 | Mainly due to subsidies received for cultural industry development at various levels during the reporting period | | Gains/Losses from Fair Value Changes of Financial Assets and Liabilities Held by Non-Financial Enterprises, and Gains/Losses from Disposal of Financial Assets and Liabilities | 85,765,392.72 | Mainly due to investment product income, fair value changes of non-current financial assets, and disposal gains during the reporting period | | Reversal of Impairment Provisions for Receivables Subject to Separate Impairment Testing | 517,211.00 | | | Other Non-Operating Income and Expenses Apart from the Above | 27,427,886.69 | Mainly due to write-off of accounts payable during the reporting period | | Less: Income Tax Impact | 129,301.15 | | | Minority Interest Impact (After Tax) | 230,843.83 | Mainly due to minority shareholders' share of profits from controlled subsidiaries | | Total | 119,351,313.35 | | Management Discussion and Analysis This section provides an in-depth analysis of the company's industry, main business operations, core competencies, and key financial performance during the reporting period [Overview of Industry and Main Business](index=6&type=section&id=Overview%20of%20Industry%20and%20Main%20Business) The company operates in the news and publishing industry, benefiting from national policy support and cultural consumption promotion, with no significant changes in its main business model - The company's industry is **news and publishing**, a vital component of the cultural industry[23](index=23&type=chunk) - National policies support high-quality cultural industry development, aiming to make it a pillar of the national economy[23](index=23&type=chunk) - In the first half, the book retail market's total sales value increased by **0.73%** year-on-year, while actual sales value decreased by **0.31%**; content e-commerce channels saw a **47.62%** increase in total sales value[24](index=24&type=chunk) - The company's main businesses include cultural services, educational services, full supply chain management, and other culture-related operations, with no significant changes in business model[25](index=25&type=chunk) [Industry Overview](index=6&type=section&id=Industry%20Overview) The cultural industry policy framework has strengthened, with national policies supporting its development, while digital transformation and technology integration accelerate across publishing and distribution - In January 2025, the General Office of the State Council issued "Several Economic Policies on Promoting High-Quality Cultural Development," improving the cultural industry policy support system[23](index=23&type=chunk) - In the first half, the book retail market's total sales value increased by **0.73%** year-on-year, while actual sales value decreased by **0.31%**; content e-commerce channels saw a **47.62%** increase in total sales value[24](index=24&type=chunk) - Digital technologies such as AI and big data are deeply penetrating the entire publishing and distribution process, driving industry transformation and upgrading[24](index=24&type=chunk) [Main Business](index=7&type=section&id=Main%20Business) The company's main businesses encompass cultural services, educational services, full supply chain management, and other culture-related operations, including audio-visual publishing, gaming, and investment - Cultural service business includes wholesale and retail of publications and cultural products, public reading services, government and enterprise services, cultural e-commerce, and public cultural services[25](index=25&type=chunk) - Educational service business covers four major systems: preschool education, K12 education, vocational and higher education, and smart education[25](index=25&type=chunk) - Full supply chain management business relies on a "big data+" logistics platform to build a smart logistics and distribution system[25](index=25&type=chunk) - Other culture-related businesses include audio-visual publishing, gaming (distribution, operation, R&D), and investments in cultural education and related technology fields[26](index=26&type=chunk) [Discussion and Analysis of Operations](index=7&type=section&id=Discussion%20and%20Analysis%20of%20Operations) In the first half of 2025, the company achieved **4.593 billion yuan** in operating revenue and **678 million yuan** in net profit attributable to the parent company, driven by core market focus, technological innovation, brand building, and reform - The company achieved operating revenue of **4.593 billion yuan** and net profit attributable to shareholders of **678 million yuan** in the first half[26](index=26&type=chunk) - The company focuses on a "grand culture, grand education" development strategy, accelerating technology empowerment and integrated development[26](index=26&type=chunk) [Core Market and Main Business Development](index=7&type=section&id=Core%20Market%20and%20Main%20Business%20Development) The company strengthened its cultural main channels, enhanced educational services, and expanded supply chain management, including third-party logistics and livelihood platforms - The distribution of themed publications remains among the top nationwide, with **15** store renovations completed, enhancing cultural service experience in urban living rooms and new lifestyle spaces[27](index=27&type=chunk) - Completed the distribution of **180 million** textbooks for spring, with **377 million yuan** in early textbook payments; the matching rate of reviewed supplementary materials increased by **5.15** percentage points year-on-year[27](index=27&type=chunk)[28](index=28&type=chunk) - Campus reading generated **95.68 million yuan** in revenue, with **20** pilot campus reading schools established[28](index=28&type=chunk) - Logistics network construction accelerated, with the third phase of Feixi Taohua Logistics Park approved, and construction of Wannan Xiuning and Wanbei Bozhou parks progressing orderly[28](index=28&type=chunk) - Expanded into medical equipment warehousing and DeepSeek server businesses, winning **8** food supply and distribution service projects[28](index=28&type=chunk) [Technological Innovation and Emerging Business Forms](index=8&type=section&id=Technological%20Innovation%20and%20Emerging%20Business%20Forms) The company advanced digital transformation, creating a new cultural landmark, building an e-commerce matrix, diversifying smart education, enhancing smart logistics, and expanding its gaming business - Created the Yuan·Bookstore as a new landmark for scientific and cultural innovation, built a live-streaming short video e-commerce matrix, with over **8,000** broadcasts and **6.9 million** views[29](index=29&type=chunk) - The "Wanmei Education Platform" achieved **519 million yuan** in online payments, **91.74 million yuan** in online sales, and accumulated **7.4 million** users[30](index=30&type=chunk) - Actively advanced the "Wanxin Digital Picture Book Library" R&D project, providing personalized learning experiences based on AI technology and big data analysis[30](index=30&type=chunk) - Optimized the automated book sorting line system, increasing daily order picking capacity from **18,000** to **40,000** orders, and reducing the error rate to **0.02%**[31](index=31&type=chunk) - The PS5 domestic physical edition of "Black Myth: Wukong" successfully launched, and two new PC boutique games, "Xielv 01" and "Yunmeng Qitan," were released[32](index=32&type=chunk) [Brand Value and Industry Influence](index=8&type=section&id=Brand%20Value%20and%20Industry%20Influence) The company enhanced brand value through original IP development, innovative reading activities, and hosting industry conferences, strengthening its presence in cultural and educational services - The "Yuan Xiaoao" IP matrix continues to expand, with over **50** self-operated cultural and creative products developed and **5** AI growth centers established[34](index=34&type=chunk) - Organized over **5,000** cultural events, including the 6th Wanxin Media Reader's Festival, 2025 Spring Semester Opening Season, and 4th Wanmei Reading series[34](index=34&type=chunk) - Hosted industry conferences such as the 2025 Physical Bookstore Development and Anhui Library Collection Book Exchange, enhancing the company's professional image in cultural and educational services[34](index=34&type=chunk)[35](index=35&type=chunk) [Deepening Reform and Development Momentum](index=9&type=section&id=Deepening%20Reform%20and%20Development%20Momentum) The company improved corporate governance by revising management systems and releasing a sustainability report, strengthened risk management, and accelerated digital control and intelligent office initiatives - Added and revised **16** management systems, released the first sustainability report, and formulated the 2025 ESG management improvement plan[36](index=36&type=chunk) - Launched an accounts receivable recovery campaign, improved full-chain management of bidding and procurement, and established **6** operating mechanisms including risk identification and compliance review[36](index=36&type=chunk) - Implemented digital projects to enhance control capabilities, built a "smart hub" for comprehensive control, completed the treasury system framework, and established a financial shared service platform[37](index=37&type=chunk) - Opened the intelligent document module based on DeepSeek's private deployment on AI all-in-one machines, initiating new attempts at intelligent office operations[37](index=37&type=chunk) [Analysis of Core Competencies](index=9&type=section&id=Analysis%20of%20Core%20Competencies) The company's core strengths lie in its scale, extensive channel network, "Digital Wanxin" innovation strategy, established brand, and high-quality talent pool - The company is the only one in Anhui Province with textbook distribution qualifications, owning over **100** wholly-owned and controlled subsidiaries, forming a scale advantage[38](index=38&type=chunk) - Possesses a multi-dimensional channel network covering Anhui Province and surrounding areas, with **804** sales outlets established, building an integrated online-offline omni-channel ecosystem[38](index=38&type=chunk)[39](index=39&type=chunk) - Vigorously implements the "Digital Wanxin" strategy, deeply deploying digital businesses in three core sectors: cultural new retail, smart education, and smart logistics, and deepening the empowerment of cutting-edge technologies such as artificial intelligence[39](index=39&type=chunk) - As a state-owned enterprise with over **70** years of history, it is committed to building first-class influential lifelong memory cultural brands and lifelong learning education brands[40](index=40&type=chunk) - Possesses nearly **3,000** education service specialists, and continuously implements "Young Employee Growth Program" and "Young Talent Cultivation Program" to strengthen its talent team[41](index=41&type=chunk) [Key Operating Performance](index=10&type=section&id=Key%20Operating%20Performance) Operating revenue decreased by **11.90%** due to declines in book and educational equipment businesses, while selling expenses decreased by **19.05%** and net cash flow from investing activities significantly decreased by **210.27%** Analysis of Financial Statement Item Changes (Jan-Jun 2025 vs. Prior Year Period) | Item | Current Period Amount (CNY) | Prior Year Period Amount (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,592,761,616.09 | 5,212,996,004.77 | -11.90 | | Operating Cost | 3,555,088,698.45 | 3,916,361,397.61 | -9.22 | | Selling Expenses | 302,251,798.62 | 373,375,000.05 | -19.05 | | Administrative Expenses | 246,404,650.34 | 234,144,850.79 | 5.24 | | Financial Expenses | -70,476,611.52 | -88,930,067.76 | 20.75 | | R&D Expenses | 10,715,716.72 | 15,367,901.39 | -30.27 | | Net Cash Flow from Operating Activities | 1,124,227,407.42 | 939,502,218.90 | 19.66 | | Net Cash Flow from Investing Activities | -2,702,783,905.33 | -871,093,612.53 | -210.27 | | Net Cash Flow from Financing Activities | -540,009,053.13 | 318,324,464.80 | -269.64 | - Operating revenue decreased mainly due to declines in book and educational equipment businesses during the reporting period[43](index=43&type=chunk) - Selling expenses decreased mainly due to reductions in labor costs, distribution promotion fees, travel expenses, and conference fees[44](index=44&type=chunk) - Net cash flow from investing activities significantly decreased by **210.27%**, primarily due to increased cash management during the reporting period[43](index=43&type=chunk)[44](index=44&type=chunk) [Main Business Analysis](index=10&type=section&id=Main%20Business%20Analysis) Operating revenue decreased by **11.90%** year-on-year, with corresponding changes in costs and expenses, while net cash flow from operating activities increased by **19.66%** - Operating revenue decreased by **11.90%**, mainly affected by declines in book and educational equipment businesses[43](index=43&type=chunk) - Selling expenses decreased by **19.05%**, mainly due to reductions in labor costs, distribution promotion fees, travel expenses, and conference fees[44](index=44&type=chunk) - Net cash flow from operating activities increased by **19.66%**, mainly due to reduced cash payments for goods purchased and changes in income tax policies[44](index=44&type=chunk) [Analysis of Assets and Liabilities](index=11&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) Monetary funds decreased by **16.56%**, receivables increased by **16.91%**, and inventory significantly decreased by **43.83%** to **856 million yuan** at period-end, primarily due to spring textbook sales Asset and Liability Status (End of Reporting Period vs. End of Prior Year) | Item Name | Current Period End Amount (CNY) | Proportion of Total Assets at Current Period End (%) | Prior Year End Amount (CNY) | Proportion of Total Assets at Prior Year End (%) | Change Percentage of Current Period End Amount vs. Prior Year End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 9,591,221,157.35 | 50.40 | 11,495,080,623.15 | 59.58 | -16.56 | | Receivables | 1,240,182,132.07 | 6.52 | 1,060,797,347.93 | 5.50 | 16.91 | | Inventory | 856,290,940.50 | 4.50 | 1,524,388,820.23 | 7.90 | -43.83 | | Short-term Borrowings | 1,513,694,635.45 | 7.95 | 2,033,575,810.53 | 10.54 | -25.56 | - Inventory at the end of the current period decreased by **43.83%** compared to the end of the prior period, mainly due to sales of spring textbooks and supplementary materials and cost of sales during the reporting period[45](index=45&type=chunk) - At the end of the reporting period, the company's restricted assets were bank deposits of **33,790,735.68 CNY**[46](index=46&type=chunk) [Analysis of Investment Status](index=11&type=section&id=Analysis%20of%20Investment%20Status) The company's financial assets measured at fair value totaled **3.353 billion yuan** at period-end, with significant purchases and sales of trading financial assets Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (CNY) | Current Period Purchases (CNY) | Current Period Sales/Redemptions (CNY) | Ending Balance (CNY) | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 7,399,746.56 | 4,835,000,000.00 | 2,485,000,000.00 | 2,351,978,329.52 | | Other Non-Current Financial Assets | 951,308,040.68 | 211,485,326.34 | 78,274,876.05 | 927,010,519.11 | | Total | 1,071,549,183.18 | 4,835,000,000.00 | 2,609,896,315.16 | 3,353,267,985.86 | [Analysis of Major Holding and Participating Companies](index=12&type=section&id=Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The company's key subsidiaries, including Anhui Xinhua Education Book Distribution Co., Ltd., operate across publication distribution, education, and supply chain management, with the latter achieving the highest net profit Financial Data of Major Subsidiaries (Unit: Ten Thousand CNY) | Company Name | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Anhui Xinhua Education Book Distribution Co., Ltd. | Domestic book, newspaper, periodical, electronic publication, audio-visual product, teaching instrument and equipment sales, etc. | 10,000.00 | 436,291.82 | 85,670.24 | 163,680.33 | 10,541.68 | 10,542.74 | | Anhui Xinhua Book and Audio-Visual Chain Co., Ltd. | Domestic book, newspaper, periodical, electronic publication sales and online sales; audio-visual product sales; general merchandise retail, etc. | 10,000.00 | 107,905.15 | 20,740.53 | 25,369.48 | -411.52 | -411.52 | | Anhui Wanxin Supply Chain Services Co., Ltd. | Warehousing and logistics services for publications, import and export goods; customs declaration, inspection agency; transportation agency services, etc. | 6,000.00 | 39,489.00 | 26,465.70 | 95,008.22 | 3,085.28 | 2,319.16 | | Fuyang Xinhua Bookstore Co., Ltd. | Domestic book, newspaper, periodical, electronic publication wholesale, retail, etc. | 6,253.79 | 101,124.49 | 43,163.70 | 33,627.06 | 5,351.74 | 8,150.03 | [Other Disclosures](index=14&type=section&id=Other%20Disclosures) The company faces risks from policy changes, new business underperformance, and declining birth rates, but is actively implementing a "Quality Improvement, Efficiency Enhancement, and High Returns" plan, achieving significant progress in core business, new productive forces, investor returns, and governance - The company faces risks such as adjustments in the distribution methods for supplementary textbooks, new business expansion falling short of expectations, and declining birth rates[50](index=50&type=chunk)[51](index=51&type=chunk) - The company will address risks by optimizing product services, upgrading channels, and developing AI-powered supplementary education products[50](index=50&type=chunk)[51](index=51&type=chunk) - The company's total cash dividend (including share repurchase amount) for 2024 was **548 million CNY**, accounting for approximately **77.71%** of net profit attributable to ordinary shareholders of the listed company, setting a new high for dividend payout ratio[56](index=56&type=chunk) - The company actively conducted multi-channel investor communication activities, participating in over **70** online and offline investor interactions during the reporting period[58](index=58&type=chunk) [Potential Risks](index=14&type=section&id=Potential%20Risks) The company may face risks from changes in industry policies affecting supplementary textbook distribution, new business expansion falling short of expectations, and declining birth rates impacting demand for educational materials - Adjustments in the distribution methods for supplementary textbooks may impact the company's operating environment and profitability[50](index=50&type=chunk) - New business expansion has room for improvement in research and resource investment, and may carry the risk of not meeting expectations[51](index=51&type=chunk) - Declining birth rates may lead to a decrease in the number of school-age primary and secondary students in the future, affecting demand for supplementary textbooks[51](index=51&type=chunk) ["Quality Improvement, Efficiency Enhancement, and High Returns" Action Plan Assessment](index=14&type=section&id=Quality%20Improvement%2C%20Efficiency%20Enhancement%20and%20High%20Returns%20Action%20Plan%20Assessment) The company actively implemented its "Quality Improvement, Efficiency Enhancement, and High Returns" action plan, achieving significant results in strengthening main businesses, developing new quality productive forces, enhancing investor returns, improving corporate governance, and increasing investor engagement - The company continues to strengthen its main businesses, leveraging its role as the primary channel for book distribution, expanding a full-chain educational service system, and optimizing full supply chain management[54](index=54&type=chunk) - Vigorously promotes the construction of "Digital Wanxin," diversifies the establishment of main online service channels, integrates AI technology to empower educational scenarios, and comprehensively advances the smart logistics system[55](index=55&type=chunk) - The company's total cash dividend (including share repurchase amount) for 2024 was **548 million CNY**, accounting for approximately **77.71%** of net profit attributable to ordinary shareholders of the listed company, setting a new high for dividend payout ratio[56](index=56&type=chunk) - Revised and improved the "Articles of Association," strengthened internal control systems, actively organized training for directors, supervisors, and senior management, enhancing governance decision-making and risk prevention capabilities[57](index=57&type=chunk) - Actively conducted multi-channel and diverse investor communication activities, participating in over **70** online and offline investor interactions during the reporting period[58](index=58&type=chunk) Corporate Governance, Environment, and Society This section details changes in the company's directors, supervisors, and senior management, outlines its profit distribution plan, and reports on rural revitalization efforts [Changes in Directors, Supervisors, and Senior Management](index=16&type=section&id=Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Mr. Sheng Dawen resigned from his supervisory and chairman positions due to reaching the statutory retirement age and no longer holds any company roles - Mr. Sheng Dawen resigned as Chairman and Supervisor of the company's Supervisory Board due to reaching the statutory retirement age[60](index=60&type=chunk) [Profit Distribution Plan](index=16&type=section&id=Profit%20Distribution%20Plan) The company's proposed semi-annual profit distribution or capital reserve to share capital increase plan is "none" for this reporting period - The company's proposed semi-annual profit distribution plan or capital reserve to share capital increase plan is "none"[61](index=61&type=chunk) [Rural Revitalization Work](index=16&type=section&id=Rural%20Revitalization%20Work) The company actively promotes comprehensive rural revitalization in designated assistance areas through strengthened leadership, increased funding, consumption assistance, cultural support, and paired assistance - The company continues to promote comprehensive revitalization efforts in its designated assistance areas of Yingdong District, Wuying Village, and Yezhai Village[62](index=62&type=chunk) - Consolidated poverty alleviation achievements by formulating assistance task lists, organizing agricultural product consumption assistance, supporting cultural and educational activities, and carrying out paired assistance[62](index=62&type=chunk)[63](index=63&type=chunk) Significant Matters This section covers the fulfillment of commitments, performance of material contracts, and the progress of raised funds utilization [Fulfillment of Commitments](index=18&type=section&id=Fulfillment%20of%20Commitments) The controlling shareholder strictly fulfilled non-competition and related-party transaction commitments, while the company maintained its cash dividend policy, committing to at least 10% of distributable profits annually - Controlling shareholder Xinhua Holdings strictly fulfilled its non-competition commitment letter and commitment letter to regulate and reduce related-party transactions[65](index=65&type=chunk) - The company commits that, under conditions for cash dividends, the annual profit distributed in cash will be no less than **10%** of the distributable profit achieved in that year[66](index=66&type=chunk) [Fulfillment of Material Contracts](index=21&type=section&id=Fulfillment%20of%20Material%20Contracts) The company's major leasing contracts, including those with Jiangsu Dazhong Bookstore, for innovative asset operation models, and with Hefei Hualun Cultural Industry Investment, were all performed normally during the reporting period - The lease contract between subsidiary Jiangsu Dazhong Bookstore Cultural Co., Ltd. and Nanjing Pharmaceutical Co., Ltd. incurred **1.1923 million yuan** in rental expenses during the reporting period[70](index=70&type=chunk) - After the company completed innovative asset operation models (Phase I and II) using some of its own store properties, total rental expenses during the reporting period amounted to **49.9758 million yuan**[71](index=71&type=chunk)[72](index=72&type=chunk) - The lease contract between the company and Hefei Hualun Cultural Industry Investment Co., Ltd. incurred **10.0902 million yuan** in rental expenses during the reporting period[72](index=72&type=chunk) [Progress of Raised Funds Utilization](index=22&type=section&id=Progress%20of%20Raised%20Funds%20Utilization) The company's IPO raised **1.245 billion yuan** with **87.08%** invested, while shares issued to specific targets raised **1.959 billion yuan** with **5.24%** invested; several projects were terminated, and funds reallocated to new initiatives Overall Utilization of Raised Funds (Unit: Ten Thousand CNY) | Source of Raised Funds | Net Raised Funds | Total Committed Investment of Raised Funds | Total Raised Funds Cumulatively Invested as of End of Reporting Period | Cumulative Investment Progress of Raised Funds as of End of Reporting Period (%) | Amount Invested This Year | | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering | 124,516.60 | 71,200.00 | 108,434.34 | 87.08 | 902.41 | | Issuance of Shares to Specific Targets | 195,904.70 | 195,904.70 | 10,271.30 | 5.24 | 3,848.46 | | Total | 320,421.30 | 267,104.70 | 118,705.64 | / | 4,750.87 | - The "Changwang Project" has been terminated, with remaining funds reallocated to the "Wanxin Wannan Logistics Park Project"[77](index=77&type=chunk)[84](index=84&type=chunk) - The "Smart Learning Omnimedia Platform" and "Smart Bookstore Operation Platform" projects have been terminated, with remaining funds reallocated to "Digital Science Popularization Project," "Industry-Education Integration Platform Project," "Digital Bookstore Construction Project," and "Supply Chain Smart Logistics Park Project"[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk) - At the end of the reporting period, the company managed idle raised funds as cash, with an ending balance of **2 billion yuan**[86](index=86&type=chunk) Share Changes and Shareholder Information This section details the company's share capital stability and provides an overview of its shareholder structure, including the top ten shareholders [Share Capital Changes](index=27&type=section&id=Share%20Capital%20Changes) During the reporting period, there were no changes in the company's total share capital or share capital structure - During the reporting period, there were no changes in the company's total share capital or share capital structure[89](index=89&type=chunk) [Shareholder Information](index=27&type=section&id=Shareholder%20Information) As of the reporting period end, the company had **26,011** ordinary shareholders, with Anhui Xinhua Distribution (Group) Holdings Co., Ltd. and Xinhua Winshare Publishing and Media Co., Ltd. as major holders - As of the end of the reporting period, the total number of ordinary shareholders was **26,011**[90](index=90&type=chunk) Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period End (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Anhui Xinhua Distribution (Group) Holdings Co., Ltd. | 1,402,968,865 | 71.66 | State-owned Legal Person | | Xinhua Winshare Publishing and Media Co., Ltd. | 124,640,000 | 6.37 | State-owned Legal Person | | Central Huijin Asset Management Co., Ltd. | 15,665,500 | 0.80 | Unknown | | Anhui Anyuan Investment Fund Co., Ltd. | 12,244,500 | 0.63 | Unknown | | China Life Insurance Co., Ltd. - Dividend - Individual Dividend - 005L - FH002 Shanghai | 9,720,300 | 0.50 | Unknown | | Hong Kong Securities Clearing Company Limited | 9,437,463 | 0.48 | Unknown | | Basic Pension Insurance Fund 1003 Portfolio | 7,093,700 | 0.36 | Unknown | | China Merchants Bank Co., Ltd. - Southern CSI 1000 ETF | 5,421,412 | 0.28 | Unknown | | China Merchants Bank Co., Ltd. - Oriental Red Ruiyuan Three-Year Fixed Open Flexible Allocation Mixed Initiated Securities Investment Fund | 4,743,100 | 0.24 | Unknown | | Ping An Fund - China Ping An Life Insurance Co., Ltd. - Life Insurance Traditional - Low - Ping An Fund - Ping An Life Equity No. 4 Single Asset Management Plan MOM | 4,195,500 | 0.21 | Unknown | Bond-Related Information This section confirms the absence of corporate bonds, debt financing instruments, and convertible corporate bonds during the reporting period [Corporate Bonds and Debt Financing Instruments](index=29&type=section&id=Corporate%20Bonds%20and%20Debt%20Financing%20Instruments) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments [Convertible Corporate Bonds](index=29&type=section&id=Convertible%20Corporate%20Bonds) During the reporting period, the company had no convertible corporate bonds Financial Report This section presents the company's unaudited financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes on accounting policies, taxation, and financial items [Audit Report](index=30&type=section&id=Audit%20Report) This semi-annual report is unaudited - This semi-annual report is unaudited[99](index=99&type=chunk) [Financial Statements](index=30&type=section&id=Financial%20Statements) This chapter presents the company's consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, for the first half of 2025 - Financial statements include consolidated balance sheet, parent company balance sheet, consolidated income statement, parent company income statement, consolidated statement of changes in owners' equity, and parent company statement of changes in owners' equity[99](index=99&type=chunk)[102](index=102&type=chunk)[106](index=106&type=chunk)[110](index=110&type=chunk)[120](index=120&type=chunk)[127](index=127&type=chunk) [Company Basic Information](index=47&type=section&id=Company%20Basic%20Information) Anhui Xinhua Media Co., Ltd., established in 2002 with **1.958 billion yuan** registered capital, listed on SSE in 2010, operates broadly in news and publishing, education, logistics, and investment - The company's registered capital is **1.957931237 billion yuan**, with a total of **1.957931237 billion shares**, and its shares were listed on the Shanghai Stock Exchange on January 18, 2010[131](index=131&type=chunk) - The company belongs to the news and publishing industry, with main business activities including general distribution of books, newspapers, periodicals, and electronic publications; distribution of middle and primary school textbooks within Anhui Province; wholesale and retail of audio-visual products; production and distribution of TV variety shows, TV specials, TV dramas, and TV animation; warehousing, logistics, distribution, and chain management of publications, cultural and sports products, and digital products; computer information system design, integration, and technical services; development and sales of educational software, computer software and hardware; sales and warehousing of electronic equipment and products, teaching instruments and equipment; sales and warehousing of music, sports, art, and health equipment; sales of office furniture, medical furniture, and financial office supplies; investment, development, management, and consulting services for communication and cultural industries; internet information services; financial consulting; advertising business; import and export business; asset management; property management; equipment and real estate leasing; construction and architectural decoration[132](index=132&type=chunk) [Basis of Financial Statement Preparation](index=47&type=section&id=Basis%20of%20Financial%20Statement%20Preparation) The company's financial statements are prepared on a going concern basis, with no significant doubts about its ability to continue operations for the next 12 months - The company's financial statements are prepared on a **going concern basis**[133](index=133&type=chunk) - There are no events or circumstances that would cast significant doubt on its ability to continue as a going concern for 12 months from the end of the reporting period[134](index=134&type=chunk) [Significant Accounting Policies and Estimates](index=47&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) The company adheres to enterprise accounting standards, detailing specific policies and estimates for financial instruments, inventory, fixed assets, and revenue recognition - The company has formulated specific accounting policies and estimates for transactions and events such as financial instrument impairment, inventory, depreciation of fixed assets, construction in progress, intangible assets, and revenue recognition, based on its actual production and operating characteristics[135](index=135&type=chunk) - Financial assets are classified at initial recognition into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[148](index=148&type=chunk) - Revenue recognition principles are based on identifying individual performance obligations within a contract and determining whether they are satisfied over time or at a point in time[216](index=216&type=chunk) [Taxation](index=66&type=section&id=Taxation) The company's main taxes include VAT, Urban Maintenance and Construction Tax, Property Tax, and Enterprise Income Tax, with exemptions for book wholesale/retail VAT and Enterprise Income Tax for the company and some subsidiaries Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Based on sales of goods and taxable services, calculated as output tax minus deductible input tax | 3% ,5%,6%,9% ,13% | | Urban Maintenance and Construction Tax | Actual amount of turnover tax paid | 5%、7% | | Property Tax | Assessed at 1.2% of the residual value of the property; or 12% of rental income for rental properties | 1.2%、12% | | Enterprise Income Tax | Taxable income | 25% | - The company is exempt from Value-Added Tax on book wholesale and retail from **January 1, 2021, to December 31, 2027**[236](index=236&type=chunk) - The company and some subsidiaries enjoy Enterprise Income Tax exemption policies, being exempt from Enterprise Income Tax from the date of transformation and registration until **December 31, 2027**[236](index=236&type=chunk) [Notes to Consolidated Financial Statement Items](index=67&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This chapter details consolidated financial statement items, including monetary funds (**9.591 billion yuan**), inventory (**856 million yuan**), and short-term borrowings (**1.514 billion yuan**) Ending Balances of Major Asset and Liability Items (Unit: CNY) | Item | Ending Balance | | :--- | :--- | | Monetary Funds | 9,591,221,157.35 | | Trading Financial Assets | 2,351,978,329.52 | | Accounts Receivable | 1,240,182,132.07 | | Inventory | 856,290,940.50 | | Long-term Equity Investments | 1,194,232,857.19 | | Fixed Assets | 850,934,688.35 | | Short-term Borrowings | 1,513,694,635.45 | | Accounts Payable | 2,673,913,044.58 | | Contract Liabilities | 381,541,803.40 | | Employee Benefits Payable | 711,971,296.64 | Current Period Amounts of Major Income Statement Items (Unit: CNY) | Item | Current Period Amount | | :--- | :--- | | Operating Revenue | 4,592,761,616.09 | | Operating Cost | 3,555,088,698.45 | | Selling Expenses | 302,251,798.62 | | Administrative Expenses | 246,404,650.34 | | R&D Expenses | 10,715,716.72 | | Financial Expenses | -70,476,611.52 | | Investment Income | 24,693,303.68 | | Net Profit | 682,043,689.20 | [R&D Expenses](index=107&type=section&id=R%26D%20Expenses) Total R&D expenses for the reporting period amounted to **10.7157 million yuan**, entirely expensed, primarily comprising employee compensation, outsourced expenses, design fees, and material costs R&D Expenses by Nature of Expense (Unit: CNY) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Employee Compensation | 8,950,130.77 | 10,636,637.74 | | Outsourced Expenses | 907,536.80 | 3,539,683.96 | | Design Fees | 5,671.93 | 163,447.54 | | Material Costs | 726,292.89 | 425,641.10 | | Other | 126,084.33 | 602,491.05 | | Total | 10,715,716.72 | 15,367,901.39 | | Of which: Expensed R&D Expenses | 10,715,716.72 | 15,367,901.39 | | Capitalized R&D Expenses | | | [Changes in Consolidation Scope](index=107&type=section&id=Changes%20in%20Consolidation%20Scope) During the reporting period, there were no changes in the scope of consolidation due to business combinations, reverse acquisitions, or subsidiary disposals [Interests in Other Entities](index=108&type=section&id=Interests%20in%20Other%20Entities) The company's enterprise group includes multiple subsidiaries across publishing, education, logistics, and investment, with significant non-wholly-owned subsidiaries, joint ventures, and associates - The company owns multiple subsidiaries, with business natures covering publication distribution, educational training, logistics and transportation, and investment management[437](index=437&type=chunk)[438](index=438&type=chunk)[439](index=439&type=chunk) Minority Interests in Significant Non-Wholly-Owned Subsidiaries (Unit: CNY) | Subsidiary Name | Minority Shareholding Proportion (%) | Profit/Loss Attributable to Minority Shareholders for Current Period | Ending Balance of Minority Interests | | :--- | :--- | :--- | :--- | | Anhui Wanxin Jinzhi Technology Venture Capital Partnership (Limited Partnership) | 1.38 | 20,122.96 | 5,131,147.95 | | Jiangsu Dazhong Bookstore Cultural Co., Ltd. | 49.00 | -5,620,252.99 | 25,582,709.78 | | Anhui Wanxin Supply Chain Services Co., Ltd. | 45.00 | 10,391,105.21 | 120,609,226.12 | - The company's significant joint ventures include Anhui Wanxin Zhuoyue Cultural and Creative Investment Co., Ltd. and Anhui Wanxin Zhuoyue Cultural and Creative Education Industry Fund Phase I Partnership (Limited Partnership)[444](index=444&type=chunk) - The company's significant associates include New World Press Co., Ltd. and Inner Mongolia Xinhua Distribution Group Co., Ltd[444](index=444&type=chunk) [Government Grants](index=114&type=section&id=Government%20Grants) At period-end, asset-related government grants in deferred income totaled **119 million yuan**, with **3.5529 million yuan** transferred to other income, and **9.5159 million yuan** in total grants recognized in current profit or loss Liability Items Involving Government Grants (Unit: CNY) | Financial Statement Item | Beginning Balance | Transferred to Other Income in Current Period | Ending Balance | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 123,016,682.53 | 3,552,950.20 | 119,463,732.33 | Asset Related | Government Grants Recognized in Current Profit or Loss (Unit: CNY) | Type | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Other | 9,515,900.79 | 5,336,056.47 | | Total | 9,515,900.79 | 5,336,056.47 | [Financial Instrument Risks](index=115&type=section&id=Financial%20Instrument%20Risks) The company manages credit, liquidity, and market risks (interest rate and foreign exchange) through credit assessments, diverse financing, and monitoring, with low credit concentration and insignificant foreign exchange exposure - The company faces credit risk, liquidity risk, and market risk (interest rate risk and foreign exchange risk)[454](index=454&type=chunk) - The company manages credit risk through credit assessments and monitoring of receivable balances, resulting in low credit concentration risk[456](index=456&type=chunk) - The company controls liquidity risk by utilizing various financing methods such as bill settlement and bank borrowings, maintaining financing continuity and flexibility[457](index=457&type=chunk) - The company's cash flow interest rate risk primarily relates to floating-rate bank borrowings, and foreign exchange risk is not significant[458](index=458&type=chunk) [Fair Value Disclosure](index=117&type=section&id=Fair%20Value%20Disclosure) At period-end, total assets measured at fair value amounted to **3.353 billion yuan**, primarily comprising trading financial assets and other non-current financial assets, utilizing Level 1, 2, and 3 valuations Fair Value of Assets Measured at Fair Value at Period-End (Unit: CNY) | Item | Level 1 Fair Value Measurement | Level 2 Fair Value Measurement | Level 3 Fair Value Measurement | Total | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | | | 2,351,978,329.52 | 2,351,978,329.52 | | Other Equity Instrument Investments | | | 58,097,837.62 | 58,097,837.62 | | Receivables Financing | | | 16,181,299.61 | 16,181,299.61 | | Other Non-Current Financial Assets | 69,057,084.67 | 555,281,079.42 | 302,672,355.02 | 927,010,519.11 | | Total Assets Continuously Measured at Fair Value | 69,057,084.67 | 555,281,079.42 | 2,728,929,821.77 | 3,353,267,985.86 | - Trading financial assets measured at Level 3 fair value are bank structured deposits, receivables financing are bank acceptance bills receivable, and other equity instrument investments and non-current financial assets are equity of unlisted companies[464](index=464&type=chunk) [Related Parties and Related Party Transactions](index=118&type=section&id=Related%20Parties%20and%20Related%20Party%20Transactions) The company's ultimate controlling party is the Anhui Provincial People's Government, with various related-party transactions including purchases, sales, and services, and key management personnel compensation of **3.1125 million yuan** - The company's controlling shareholder is Anhui Xinhua Distribution (Group) Holdings Co., Ltd., and the ultimate controlling party is the Anhui Provincial People's Government[466](index=466&type=chunk) Major Related-Party Purchases/Services Received (Unit: CNY) | Related Party | Related Party Transaction Content | Current Period Amount | | :--- | :--- | :--- | | Xinhua Winshare Publishing and Media Co., Ltd. | Book Purchases | 11,313,934.28 | | Anhui Xinzhi Digital Technology Co., Ltd. | Book Purchases | 6,510,678.73 | | Hefei Hualun Cultural Industry Investment Co., Ltd. | Property Management Services, etc. | 1,007,652.60 | Major Related-Party Sales/Services Provided (Unit: CNY) | Related Party | Related Party Transaction Content | Current Period Amount | | :--- | :--- | :--- | | Anhui Wanxin Zhuoyue Cultural and Creative Education Industry Fund Phase I Partnership (Limited Partnership) | Management Fee Income | 1,500,000.00 | | Anhui Xinzhi Digital Technology Co., Ltd. | Book Sales | 1,702,371.96 | - Key management personnel compensation for the current period amounted to **3.1125 million yuan**[475](index=475&type=chunk) [Commitments and Contingencies](index=125&type=section&id=Commitments%20and%20Contingencies) During the reporting period, the company had no significant commitments or contingencies requiring disclosure [Events After the Balance Sheet Date](index=125&type=section&id=Events%20After%20the%20Balance%20Sheet%20Date) From the end of the reporting period until the financial report approval date, the company had no significant non-adjusting events, profit distribution, sales returns, or other post-balance sheet events [Other Significant Matters](index=125&type=section&id=Other%20Significant%20Matters) The company's reporting segments, including headquarters, education, cultural services, modern logistics, and other divisions, are determined by internal structure and management requirements, with detailed revenue and cost information provided for each - The company determines its reporting segments based on operating segments, including headquarters, education services, cultural services, modern logistics, and other segments[481](index=481&type=chunk)[482](index=482&type=chunk) Financial Information by Reporting Segment (Unit: Ten Thousand CNY) | Item | Headquarters Segment | Education Services Segment | Cultural Services Segment | Modern Logistics Segment | Other Segments | Inter-segment Eliminations | Total | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,351.92 | 406,402.00 | 50,348.41 | 173,019.01 | 549.28 | 184,583.06 | 447,087.56 | | Operating Cost | 1,292.09 | 321,610.23 | 40,046.69 | 163,940.77 | 315.25 | 177,366.08 | 349,838.95 | [Notes to Parent Company Financial Statement Items](index=126&type=section&id=Notes%20to%20Parent%20Company%20Financial%20Statement%20Items) This chapter details the parent company's financial statement items, including accounts receivable (**106 million yuan**), other receivables (**553 million yuan**), and long-term equity investments (**4.703 billion yuan**) Ending Balances of Parent Company's Major Asset and Liability Items (Unit: CNY) | Item | Ending Balance | | :--- | :--- | | Monetary Funds | 8,469,204,115.21 | | Trading Financial Assets | 1,751,644,996.19 | | Accounts Receivable | 76,705,470.24 | | Other Receivables | 640,412,168.67 | | Long-term Equity Investments | 4,703,049,547.58 | Current Period Amounts of Parent Company's Major Income Statement Items (Unit: CNY) | Item | Current Period Amount | | :--- | :--- | | Operating Revenue | 16,318,265.64 | | Operating Cost | 13,875,025.67 | | Investment Income | 1,293,978,732.48 | | Net Profit | 1,388,850,998.43 | [Supplementary Information](index=136&type=section&id=Supplementary%20Information) This chapter provides supplementary financial details, including a detailed statement of non-recurring gains and losses, return on net assets, and earnings per share Detailed Statement of Non-Recurring Gains and Losses (Unit: CNY) | Item | Amount | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 434,686.77 | | Government Subsidies Included in Current Period P&L | 5,566,281.15 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets | 85,765,392.72 | | Reversal of Impairment Provisions for Receivables | 517,211.00 | | Other Non-Operating Income and Expenses | 27,427,886.69 | | Less: Income Tax Impact | 129,301.15 | | Minority Interest Impact (After Tax) | 230,843.83 | | Total | 119,351,313.35 | Return on Net Assets and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Earnings Per Share (CNY/share) | | :--- | :--- | :--- | | Net Profit Attributable to Ordinary Shareholders of the Company | 5.74 | 0.35 | | Net Profit Attributable to Ordinary Shareholders of the Company After Non-Recurring Gains/Losses | 4.73 | 0.29 |

安徽新华传媒股份有限公司 董事离职管理制度 第二条 本制度适用于公司董事（含独立董事）因任期 届满、辞职、被解除职务或其他原因离职的情形。 第三条 公司董事离职管理应遵循以下原则： （一）合法合规原则：严格遵守国家法律法规、监管规 定及《公司章程》的要求； （二）公开透明原则：及时、准确、完整地披露董事离 职相关信息； （三）平稳过渡原则：确保董事离职不影响公司正常经 营和治理结构的稳定性； （四）保护股东权益原则：维护公司及全体股东的合法 权益。 1 第二章 离职情形与程序 第一章 总则 第一条 为规范安徽新华传媒股份有限公司（以下简称 公司）董事离职程序，确保公司治理结构的稳定性和连续性， 维护公司及股东的合法权益，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》）《上市公司治理准则》《上海证券交易所股票 上市规则》《上市公司董事和高级管理人员所持本公司股份 及其变动管理规则》等有关法律、法规、规范性文件及《公 司章程》等相关规定，结合公司实际情况，制定本制度。 第四条 公司董事离职包含任期届满未连任、主动辞职、 被解除职务以及其他导致董事实际离职等情形。 ...