证券代码：601811 证券简称：新华文轩 公告编号：2026-015 新华文轩出版传媒股份有限公司 关于召开2025年度股东周年大会的通知 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 (一) 股东会类型和届次 2025年度股东会 召开的日期时间：2026 年 5 月 27 日 9 点 30 分 召开地点：新华之星 A 座（四川省成都市锦江区三色路 238 号） (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会网络投票系统 网络投票起止时间：自2026 年 5 月 27 日 至2026 年 5 月 27 日 股东会召开日期：2026年5月27日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (二) 股东会召集人：董事会 (三) 投票方式：本次股东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 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会召 开当日的交易时间段，即 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年3月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 新華文軒出版傳媒股份有限公司 呈交日期: 2026年4月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00811 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 441,937,100 | RMB | | 1 | RMB | | 441,937,100 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 441,937,100 | RMB | | 1 | RMB | | 441,937,100 | FF301 第 1 頁 共 10 ...

Investment Rating - The industry is rated positively, with expectations of overall returns exceeding the CSI 300 Index by more than 5% in the next six months [49]. Core Insights - Claude has undergone multiple functional updates focusing on remote control and autonomous task execution, marking the evolution from a chatbot to an agent capable of executing tasks across devices [5][3]. - OpenAI's decision to shut down Sora is attributed to the lack of a supportive video ecosystem, making it difficult to sustain a content community and compete effectively with platforms like Google and Douyin [4][5]. - The future looks promising for companies that possess video model technology and commercial scenarios, leveraging user feedback for model iteration and monetization [5]. Summary by Sections Industry Performance - The Shanghai Composite Index, Media Index, Shenzhen Component Index, and ChiNext Index experienced declines of -1.10%, -1.06%, -0.76%, and -1.68% respectively [10]. - The top ten stocks in the media and internet sector saw significant gains, with ST Mingcheng leading at 21.39% [12][13]. Game Sector - The Chinese gaming market generated actual sales revenue of 332.31 billion yuan in February 2025, reflecting a year-on-year growth of 18.96% [16]. - The top three mobile games in the iOS revenue rankings as of March 29, 2026, are "Peace Elite," "Love and Deep Space," and "Lock Kingdom: World" [16]. AI Sector - Global AI product applications ranked by MAU in February 2026 show ChatGPT leading with 956 million users, followed by Doubao and Qianwen [20]. - Domestic AI product applications also highlight Doubao and Qianwen as the top two, with MAUs of 315 million and 203 million respectively [21]. Film Sector - The total box office for domestic films in 2026 reached 11.8 billion yuan, with the top three films on March 28 being "Rescue Plan," "Beaver Transformation Plan," and "Racing Life 3" [23][24]. Television Sector - The CSM data for March 26, 2026, shows "Good Time" leading in viewership ratings, followed by "Zhu Yu" and "Tai Ping Nian" [25][26]. Advertising Sector - The national outdoor advertising expenditure in 2025 was 258.7 billion yuan, marking a year-on-year increase of 7% [34].

证券代码：601811 证券简称：新华文轩 公告编号：2026-014 新华文轩出版传媒股份有限公司 关于召开2026年第二次临时股东会的通知 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 (一) 股东会类型和届次 2026年第二次临时股东会 召开的日期时间：2026 年 4 月 23 日 9 点 30 分 召开地点：新华之星 A 座（四川省成都市锦江区三色路 238 号） (五) 网络投票的系统、起止日期和投票时间。 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者的投票，应 按照《上海证券交易所上市公司自律监管指引第 1 号 — 规范运作》等有关规定执行。 (七) 涉及公开征集股东投票权 不涉及 二、 会议审议事项 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 4 月 23 日 至2026 年 4 月 23 日 股东会召开日期：2026年4月23日 本次股东会采用 ...

新華文軒出版傳媒股份有限公司 XINHUA WINSHARE PUBLISHING AND MEDIA CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：811） 將於二零二六年四月二十三日舉行的臨時股東會適用的代理人委任表格 （H股股東適用） 與本代理人委任表格相關 的股份數目 （附註1） 本人╱吾等 （附註2） 地址為 為新華文軒出版傳媒股份有限公司（「本公司」）股本中每股面值人民幣1.00元的H股 股 現委任大會主席，或 （附註4） 地址為 為本人 ╱ 吾等的代理人出席二零二六年四月二十三日（星期四）上午九時三十分於中華人民共和國（「中國」）四川省 成都市錦江區三色路238號新華之星A座舉行的本公司臨時股東會（「臨時股東會」）或其任何續會，並於該會或其任何 續會上代表本人╱吾等，依照下列指示就臨時股東會通告所列決議案投票，如無作出指示，則由本人╱吾等的代理 人酌情決定投票。 | | 普通決議案 | （附註5） 贊成 | （附註5） 反對 | （附註5） 棄權 | | --- | --- | --- | --- | --- | | 1. | 審議及批准《關於本公司與成都銀行進行業 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任何部份內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 新華文軒出版傳媒股份有限公司 XINHUA WINSHARE PUBLISHING AND MEDIA CO., LTD. （於中華人民共和國註冊成立的股份有限公司） 周青 中國‧四川，二零二六年三月三十日 （股份代號：811） 臨時股東會通告 茲通告新華文軒出版傳媒股份有限公司（「本公司」）謹訂於二零二六年四月二十 三日上午九時三十分於中華人民共和國（「中國」）四川省成都市錦江區三色路238號新 華之星A座舉行臨時股東會（「臨時股東會」），藉以審議及酌情通過以下決議案： 普通決議案 1. 審議及批准《關於本公司與成都銀行進行業務合作關聯交易的議案》。 承董事會命 新華文軒出版傳媒股份有限公司 董事長 – 1 – 附註： 1. 茲提述本公司之日期為二零二六年三月二十六日的自願性公告（「該公告」），內容有關本公司擬與 成都銀行業務合作之交易。 承該公告所述，本公司於二零二六年三月二十六日召開董事會會議，通 ...

Investment Rating - The report maintains a positive outlook on the undervalued and high-growth gaming sector, suggesting it as a potential investment opportunity [1]. Core Insights - The media and internet sector experienced a decline, with the media index falling by 1.4%, underperforming the Shanghai Composite Index by 0.3%. The trading volume decreased to 181.7 billion yuan, reflecting a shrinking market [5][6]. - The report emphasizes the gaming sector's potential for high growth in Q1 and the entire year, highlighting companies like Giant Network, Century Huatong, and Xindong Company as key players [5][19]. - The AI sector is noted for its exponential growth, with the daily usage of "tokens" surpassing 140 trillion in March 2026, marking a growth of over 1000 times in two years. Companies such as Minimax, Alibaba, and Shunwang Technology are recommended for investment [5][19]. - The IP industry is described as experiencing upward fluctuations, driven by AI integration and long-term value creation. Companies like Pop Mart and Reading Group are highlighted for their strong market positions [5][19]. Summary by Sections Market Performance - The media index underperformed, with a 1.4% decline and a trading volume of 181.7 billion yuan, which is a decrease from previous weeks [5][6]. - All sub-sectors within media saw declines, with digital media dropping over 2% and advertising marketing down more than 1.5% [15]. Gaming Sector - The report suggests continued focus on the gaming sector due to its low valuation and high growth potential, with expected strong performance from companies like Giant Network and Century Huatong [5][19]. - Upcoming game releases, such as "Wangzhe Rongyao World" and "Yihuan," are anticipated to maintain supply-side strength [5][19]. AI Sector - The AI sector is highlighted for its rapid growth, with significant increases in token usage and the introduction of new multi-modal models by companies like MiniMax [5][19]. - The report recommends monitoring companies involved in AI content creation and cloud computing [5][19]. IP Industry - The IP industry is noted for its resilience and growth potential, with companies like Pop Mart and Reading Group leading the market [5][19]. - Recent collaborations and product launches in the IP space indicate ongoing innovation and market engagement [5][19].

Investment Rating - The investment rating for the company is "Buy" (maintained) with a current price of 13.35 yuan and a target price not specified for the next 6 months [1]. Core Insights - The company reported a stable profit growth and continues to provide high dividends to shareholders, with a proposed annual cash dividend of 518 million yuan, accounting for 33.04% of net profit, and a total cash dividend of 752 million yuan, which is 48% of net profit [7]. - The revenue for 2025 was 11.73 billion yuan, a decrease of 4.84% year-on-year, while the net profit attributable to the parent company was 1.57 billion yuan, an increase of 1.53% year-on-year. The decline in revenue was primarily due to the market environment in the education service industry, affecting sales of textbooks and student reading materials [7]. - The company is focusing on digital product upgrades and exploring IP development in general books, while also implementing a "going out" strategy, exporting 54,000 books in 2025 [7]. Financial Performance Summary - **Revenue and Profit Forecasts**: - Revenue is expected to grow from 12.75 billion yuan in 2026 to 14.77 billion yuan in 2028, with growth rates of 8.69%, 7.62%, and 7.59% respectively [2][8]. - Net profit attributable to the parent company is projected to increase from 1.73 billion yuan in 2026 to 2.05 billion yuan in 2028, with corresponding growth rates of 10.15%, 7.46%, and 10.54% [2][8]. - **Earnings Per Share (EPS)**: - EPS is forecasted to rise from 1.40 yuan in 2026 to 1.66 yuan in 2028 [2]. - **Valuation Metrics**: - The Price-to-Earnings (PE) ratio is expected to decrease from 10 in 2026 to 8 in 2028, while the Price-to-Book (PB) ratio is projected to decline from 1.10 to 0.96 over the same period [2][9]. Business Segment Analysis - **Publishing and Distribution**: - The publishing segment is expected to see revenue growth from 3.13 billion yuan in 2026 to 3.59 billion yuan in 2028, with growth rates of 8% each year [8]. - The distribution segment is projected to grow from 11.03 billion yuan in 2026 to 12.62 billion yuan in 2028, with growth rates of 8%, 7%, and 7% respectively [8]. - **Digital Transformation**: - The company is actively upgrading its digital products and has partnered with apps like "Nano Box" and "Yuan Tutor" to provide educational resources, indicating a strategic shift towards digitalization in the education sector [7].

Investment Rating - The report maintains a "Buy" rating for Xinhua Wenhui (601811) with a current price of 13.35 yuan and a target price not specified for the next six months [1]. Core Insights - The company reported a revenue of 11.73 billion yuan in 2025, a decrease of 4.84% year-on-year, while the net profit attributable to the parent company was 1.57 billion yuan, reflecting a growth of 1.53% [7]. - The decline in revenue is attributed to the challenging market environment in the education services sector, particularly a drop in sales of textbooks and student reading materials [7]. - The company continues to implement a high dividend policy, proposing a cash dividend of 518 million yuan, which accounts for 33.04% of net profit, and a total cash dividend of 752 million yuan, representing 48% of net profit [7]. - The publishing and distribution segments experienced declines, with publishing revenue at 2.9 billion yuan (down 2.8%) and distribution revenue at 10.21 billion yuan (down 6%) [7]. - The company is focusing on digital product upgrades and exploring new growth avenues in educational information technology [7]. Financial Summary - Revenue projections for 2026-2028 are 12.75 billion yuan, 13.72 billion yuan, and 14.77 billion yuan, with growth rates of 8.69%, 7.62%, and 7.59% respectively [2][8]. - Net profit forecasts for the same period are 1.73 billion yuan, 1.86 billion yuan, and 2.05 billion yuan, with corresponding growth rates of 10.15%, 7.46%, and 10.54% [2][8]. - Earnings per share (EPS) are expected to increase from 1.27 yuan in 2025 to 1.66 yuan in 2028 [2]. - The return on equity (ROE) is projected to rise from 10.27% in 2025 to 11.98% in 2028 [2]. Business Segments - The distribution segment is expected to achieve stable growth, with revenue growth rates of 8% for 2026, 7% for 2027, and 7% for 2028 [8]. - The publishing segment is also anticipated to grow, with revenue growth rates of 8% for 2026, 7% for 2027, and 7% for 2028 [8]. - The company is actively pursuing a "going out" strategy, exporting 54,000 copies of books in 2025 [7].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 董事會進一步宣佈，劉國賢先生已獲委任為授權代表替任人及法律程序文件代理 人，自2026年3月26日起生效。 新華文軒出版傳媒股份有限公司 XINHUA WINSHARE PUBLISHING AND MEDIA CO., LTD. （於中華人民共和國註冊成立之股份有限公司） （股份代號：811) 變更授權代表替任人及法律程序文件代理人 新華文軒出版傳媒股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，黃慧 玲女士（「黃女士」）已辭任本公司以下職位，自2026年3月26日起生效： 於本公告日期，董事會成員包括(a)執行董事周青先生、劉龍章先生及李昆先生； (b)非執行董事柯繼銘先生及譚鏖女士；以及(c)獨立非執行董事劉子斌先生、鄧富 民先生及韓文龍先生。 * 僅供識別 1. 根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第 3.06(2)條規定之授權代表替任人（「授權代表替任人 ...