I. 法定/註冊股本變動 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1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2月3日 | 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 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港 ...

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1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2月3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 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港 ...

Core Viewpoint - The publishing sector experienced a decline of 1.67% on February 2, with major stocks like Rongxin Culture leading the drop. The Shanghai Composite Index closed at 4015.75, down 2.48%, while the Shenzhen Component Index closed at 13824.35, down 2.69% [1]. Group 1: Market Performance - The publishing sector saw a net outflow of 391 million yuan from institutional investors, while retail investors contributed a net inflow of 277 million yuan [2][3]. - Key stocks in the publishing sector showed mixed performance, with Xinhua Wenhui and Shiji Tianhong experiencing slight gains of 0.96% and 0.65%, respectively, while Rongxin Culture fell by 4.24% [1][2]. Group 2: Stock Details - Rongxin Culture closed at 39.07 yuan, down 4.24%, with a trading volume of 51,100 shares and a transaction value of 206 million yuan [2]. - Other notable stocks included Zhongwen Online, which closed at 30.68 yuan, down 3.46%, and Guangdong Media, which closed at 66.11 yuan, down 2.28% [2]. Group 3: Capital Flow Analysis - The capital flow analysis indicated that retail investors had a net inflow of 277 million yuan, while institutional investors had a net outflow of 391 million yuan, suggesting a shift in market sentiment [2][3]. - Specific stocks like Shiji Tianhong and Tianzhou Culture saw varying levels of net inflow and outflow from different investor categories, highlighting the volatility within the sector [3].

Core Viewpoint - The publishing sector experienced a notable increase of 2.53% on January 29, with major gains led by Yue Media, while the Shanghai Composite Index rose by 0.16% and the Shenzhen Component Index fell by 0.3% [1] Group 1: Market Performance - The closing price of Yue Media reached 11.81, marking a significant increase of 9.96% with a trading volume of 1.1611 million shares and a transaction value of 1.338 billion [1] - Century Tianhong closed at 12.71, up by 7.44%, with a trading volume of 591,900 shares and a transaction value of 754 million [1] - The overall net inflow of funds in the publishing sector was 574 million, while retail investors saw a net outflow of 288 million [1] Group 2: Individual Stock Performance - Yue Media had a net inflow of 367 million, accounting for 27.47% of the total, while retail investors had a net outflow of 205 million [2] - Chinese Online reported a net inflow of 11.8 million, with a net outflow of 39.45 million from retail investors [2] - The stock of Honor Culture saw a net inflow of 23.77 million, with retail investors experiencing a net outflow of 1.782 million [2]

这已是该公司与这一顶级舞台的第三次结缘。从早年《牛起来》中完成高难度翻滚的"犇犇"机器人集 群，到后来身着花袄扭秧歌的灵动表演，宇树不断以创新的动态演示刷新公众对机器人能力的认知。每 一次在春晚的亮相，都为其带来了显著提升的市场关注度与商业订单，印证了春晚作为品牌曝光核心阵 地的巨大价值。 新春脚步渐近，宇树科技的机器人再次出现在2026年央视春晚的彩排名单中。据《创智记》报道，中央 广播电视总台《2026年春节联欢晚会》于1月17日完成首次彩排。宇树科技旗下机器人再次出现在马年 春晚的彩排现场，其最终能否亮相除夕夜舞台，将取决于后续彩排效果。 此次竞逐马年春晚资格的竞争尤为激烈，行业一度出现关于多家机器人公司"竞价"的传闻。宇树能够再 次进入彩排，既是对其技术稳定性的认可，也预示着其产品在复杂协同与动态表现上达到了新的水准。 舞台之上的精彩，始终是硬实力最直观的体现。 鲜为人知的是，宇树科技背后站着一位"隐形股东"——新华文轩。这家长期被视为图书发行商的老牌上 市公司，早已通过旗下全资投资平台"文轩投资有限公司"及关联产业基金，悄然构建了一张覆盖机器人 等硬科技领域的生态网络。 新华文轩对宇树科技的布局始于 ...

Core Viewpoint - The publishing sector experienced an overall increase of 0.94% on January 23, with Century Tianhong leading the gains. The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1]. Group 1: Stock Performance - Century Tianhong (300654) closed at 11.48, up 6.79% with a trading volume of 502,500 shares and a transaction value of 590 million yuan [1]. - Rongxin Culture (301231) closed at 40.55, up 4.92% with a trading volume of 105,600 shares and a transaction value of 418 million yuan [1]. - Southern Media (601900) closed at 16.12, up 3.73% with a trading volume of 386,500 shares and a transaction value of 609 million yuan [1]. - Guomai Culture (301052) closed at 42.28, up 3.02% with a trading volume of 82,400 shares and a transaction value of 34.6 million yuan [1]. - Chinese Online (300364) closed at 32.79, up 2.12% with a trading volume of 1,057,800 shares and a transaction value of 34.65 million yuan [1]. Group 2: Capital Flow - The publishing sector saw a net inflow of 55.35 million yuan from institutional investors, while retail investors experienced a net outflow of 95.80 million yuan [2]. - The main capital inflow was led by Chinese Online (300364) with a net inflow of 1.34 billion yuan from institutional investors, despite a net outflow of 1.44 billion yuan from retail investors [3]. - Southern Media (601900) had a net inflow of 54.21 million yuan from institutional investors, but also saw a net outflow of 38.15 million yuan from retail investors [3].

Core Insights - Sichuan plays a unique role in the western economic landscape, possessing rare energy, mineral, and agricultural resources, along with a concentration of leading enterprises in sectors like liquor, equipment manufacturing, biomedicine, and electronic information [1] - The recent ESG-V rating report by Jiaan Jinxin evaluates Sichuan's listed companies on environmental, social, governance, and value dimensions, addressing the critical question of how resource advantages can be transformed into sustainable governance and long-term value [1][2] - The ESG-V rating system introduces "value" as a key variable, assessing whether companies can achieve sustainable profitability and stable capital returns, highlighting a structural differentiation among Sichuan's listed companies [1][2] ESG-V Ratings Overview - New Yiseng is the only company in Sichuan to receive the highest ESG-V rating of AAA, demonstrating strong governance and value dimensions, indicative of a technology-intensive enterprise with controllable resource consumption [2] - The AA tier includes companies like Wuliangye, Kanghong Pharmaceutical, and Xinhua Wencuan, which, despite not having absolute advantages in environmental dimensions, exhibit strong governance structures and value stability [2] - The majority of Sichuan's listed companies fall into the A and BBB rating categories, indicating established compliance and governance frameworks but facing challenges in environmental performance and value stability [3] Industry Challenges and Transition - Many energy, mining, and heavy manufacturing companies face significant pressure in the environmental dimension, while some firms have a foundation in social responsibility but need to improve capital efficiency [3] - The overall ESG-V structure of Sichuan's listed companies reflects a transition from a resource-based economy to a value-based pricing model, with leading firms establishing stable long-term value through technology and governance [3][4] - The ESG-V rating list serves as a "health report" for regional capital structures, emphasizing that long-term investment should focus on companies that integrate resource advantages, governance capabilities, and value creation [4]

Investment Rating - The industry investment rating is "Overweight," indicating that the growth level of the industry is expected to exceed that of the CSI 300 index over the next six months [3][37]. Core Insights - The report highlights that the securities sector experienced a decline of 2.21% during the week, underperforming the CSI 300 index by 1.64 percentage points. The current price-to-book (PB) ratio for the brokerage sector is 1.38 times [1][2]. - CITIC Securities reported a net profit of 30.051 billion yuan for 2025, marking a year-on-year growth of 38.46%, and its operating revenue reached 74.83 billion yuan, up 28.75% year-on-year. This performance is attributed to the overall upward trend in the domestic capital market and increased investor confidence [2][35]. - The report emphasizes that the growth drivers for the industry in 2025 will be diverse, with traditional businesses showing resilience and investment banking benefiting from a recovery in the equity financing market [2][6]. Summary by Sections Securities Weekly Data Tracking - The brokerage sector's performance is closely monitored, with traditional businesses like brokerage and proprietary trading showing high elasticity in growth due to increased market activity [2][9]. Insurance Weekly Data Tracking - The insurance sector saw a decline of 3.59%, underperforming the CSI 300 index by 3.02 percentage points. China Life Insurance reported over 62.24 million claims in 2025, with a total claim amount exceeding 100.4 billion yuan, reflecting a 10% year-on-year increase [7][8]. - The overall insurance industry achieved a premium income of 576.29 billion yuan in November 2025, with a year-on-year growth of 7.56% [25][8]. Industry Dynamics - The report notes that regulatory encouragement for industry consolidation is present, with mergers and acquisitions seen as effective means for brokerages to achieve external growth. This consolidation is expected to enhance industry competitiveness and resource allocation [3][6][30].

Core Viewpoint - The publishing sector experienced a significant decline, with a drop of 4.09% on January 16, led by China Science Publishing, which fell by 9.99% [1] Market Performance - The Shanghai Composite Index closed at 4101.91, down 0.26% - The Shenzhen Component Index closed at 14281.08, down 0.18% [1] Individual Stock Performance - China Science Publishing (601858) closed at 21.54, down 9.99% with a trading volume of 313,900 shares and a turnover of 694 million yuan - Rongxin Culture (301231) closed at 38.52, down 9.41% with a trading volume of 109,500 shares and a turnover of 432 million yuan - Zhongwen Online (300364) closed at 32.91, down 8.46% with a trading volume of 1,288,400 shares and a turnover of 428.1 million yuan - Other notable declines include Southern Media (601900) down 5.09%, Tianzhou Culture (300148) down 4.90%, and CITIC Publishing (300788) down 4.86% [1] Capital Flow Analysis - The publishing sector saw a net outflow of 1.067 billion yuan from institutional investors, while retail investors contributed a net inflow of 943 million yuan [1] - The table of capital flow indicates that Southern Media had a net inflow of 11.2999 million yuan from institutional investors, while it faced a net outflow of 44.1266 million yuan from retail investors [2]

Core Viewpoint - Xinhua Wenhui's stock price has shown significant growth in recent months, with a year-to-date increase of 17.36% and a recent 5-day increase of 12.58% [2] Group 1: Stock Performance - As of January 15, Xinhua Wenhui's stock price rose by 2.01% to 15.75 CNY per share, with a trading volume of 1.03 billion CNY and a turnover rate of 0.84%, resulting in a total market capitalization of 194.33 billion CNY [1] - The stock has experienced a 17.36% increase year-to-date, a 12.58% increase over the last 5 trading days, a 17.36% increase over the last 20 days, and a 7.88% increase over the last 60 days [2] Group 2: Financial Performance - For the period from January to September 2025, Xinhua Wenhui reported operating revenue of 7.897 billion CNY, a year-on-year decrease of 6.41%, while the net profit attributable to shareholders increased by 9.60% to 977 million CNY [2] - The company has distributed a total of 4.738 billion CNY in dividends since its A-share listing, with 2.11 billion CNY distributed over the past three years [3] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders in Xinhua Wenhui was 16,800, a decrease of 4.35% from the previous period, with an average of 0 shares per shareholder [2] - Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 298 million shares, a decrease of 15.784 million shares from the previous period [3]