（文章来源：证券日报） 证券日报网讯 11月28日晚间，浙数文化发布公告称，2025年9月29日，公司与浙江出版联合集团有限公 司（简称"浙江出版集团"）正式签署《股份转让协议》，公司拟以自有资金和自筹资金，通过非公开协 议转让的方式受让浙江出版集团持有的浙江出版传媒股份有限公司（股票代码：601921.SH，简称"浙版 传媒"）133，336，666股股份（占浙版传媒总股本的6.00%），股份转让价格为8.82元/股，股份转让价 款共计1，176，029，394.12元人民币。2025年11月28日，公司收到浙江出版集团通知，浙江出版集团 已取得其上级主管部门出具的同意批复。 ...

证券代码：601921 证券简称：浙版传媒 公告编号：2025-051 浙江出版传媒股份有限公司（以下简称"公司"或"浙版传媒"）于 2025 年 9 月 29 日收到控股股东浙江出版联合集团有限公司（以下简称"浙版集团"）通知，浙版集团 与浙报数字文化集团股份有限公司（以下简称"浙数文化"）当日签署了《股份转让协 议》，浙版集团拟将其持有的 133,336,666 股公司股票（占公司总股本的 6.00%），以 8.82 元/股的价格，通过非公开协议转让方式转让至浙数文化。具体内容详见公司在上 海证券交易所网站 （www.sse.com.cn）2025 年 9 月 30 日披露的《浙江出版传媒股份 有限公司关于控股股东协议转让部分公司股份暨权益变动的提示性公告》（公告编号： 2025-043）及相关简式权益变动报告书。 2025 年 11 月 28 日，公司收到控股股东浙版集团转发的《浙江省财政厅 中共浙 江省委宣传部关于原则同意浙江出版联合集团有限公司协议转让浙版传媒流通股股 份的批复》（浙财文〔2025〕28 号），主管部门已批复同意浙版集团与浙数文化协议 转让浙版传媒 6.00%股份的交易事项。 本次股 ...

Group 1 - The core announcement is regarding the approval of the transfer of 6% of shares of Zhejiang Publishing Media Group by its controlling shareholder, Zhejiang Publishing Group, to Zheshang Culture [1] - The share transfer is subject to compliance confirmation by the Shanghai Stock Exchange and registration with China Securities Depository and Clearing Corporation Limited, indicating uncertainty in the completion of the transaction [1] - As of the report, Zhejiang Publishing Media has a market capitalization of 17.6 billion yuan [1] Group 2 - For the fiscal year 2024, the revenue composition of Zhejiang Publishing Media is as follows: publishing accounts for 78.56%, publishing for 28.05%, printing for 3.65%, and other businesses for 3.24% [1] - The company emphasizes the importance of adhering to legal regulations for timely information disclosure regarding the share transfer process [1]

Core Insights - The Chinese media industry has experienced rapid growth over the past 20 years, but growth rates have slowed down due to the saturation of internet user demographics and the decline in traditional media advertising revenues [2] - In 2019, the growth rate of the media industry fell below 10% for the first time, primarily due to the impact of US-China trade tensions and overall economic downturn, with total output value reaching 22,625.4 billion yuan and a growth rate of 7.95% [2] - The media industry faced rare negative growth in 2022, attributed to macroeconomic pressures, ongoing pandemic impacts, and regulatory changes in sectors like online gaming [2] - In 2023, the media industry began to recover, with total output value reaching 31,518.23 billion yuan, marking an 8.38% year-on-year increase, driven by offline consumption recovery and new technological concepts [2] - The media industry's total output value is projected to reach approximately 34,157.9 billion yuan in 2024, indicating a positive growth trajectory [2] Industry Overview - The media industry encompasses various forms of information dissemination, categorized into four types of media [4] - The evolution of the media industry has been marked by significant changes in technology, transitioning from traditional media to new media platforms [6] Industry Policies - Recent policies have focused on the transformation and development of the media industry, emphasizing talent integration between traditional and new media [8] - The government has introduced measures to enhance cultural originality and support various creative sectors, including literature, arts, and digital media [8][9] Industry Value Chain - The media industry value chain consists of upstream content creation, midstream operations and distribution, and downstream end-users, with midstream players holding significant market power [10] Online Literature Market - The online literature sector has grown significantly, with market size increasing from 20.17 billion yuan in 2019 to a projected 41.99 billion yuan in 2024, reflecting a compound annual growth rate of 15.79% [12]

浙版传媒公告称，2025年，公司与浙数文化、星路投资签订协议，发起设立浙江望宸数智创业投资合伙 企业（有限合伙），总认缴出资2.01亿元，公司作为有限合伙人认缴1亿元，占比49.75%。近日，基金 已完成中国证券投资基金业协会备案登记。本次投资符合公司战略，不会对生产经营和业绩造成重大不 利影响，但存在投资风险。截至目前，公司与私募基金合作投资认缴总额4亿元，实缴3.5亿元。 ...

证券代码：601921 证券简称：浙版传媒 公告编号：2025-050 浙江出版传媒股份有限公司关于参与设立 浙江望宸数智创业投资合伙企业（有限合伙）的进展公告 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： 三、对公司的影响及拟采取的应对措施 本次基金投资符合浙版传媒长期发展战略，有助于浙版传媒拓宽产业投资渠 道，为可持续高质量发展提供动力和保障。本次基金投资不会对浙版传媒的生产 经营和业绩造成重大不利影响。同时，基金投资无固定回报承诺，存在投资周期 较长、收益不确定性以及短期内不能贡献利润的风险。投资标的的管理和运营， 市场宏观调控政策、财政税收政策、产业政策、法律法规、经济周期变化以及区 域市场竞争格局变化等，均可能影响投资标的经营状况，进而影响投资价值。浙 版传媒将持续关注基金后续进展情况，并按照相关规定及时履行信息披露义务， 敬请广大投资者注意投资风险。 特此公告。 浙江出版传媒股份有限公司董事会 2025 年 11 月 25 日 | 投资标的名称 | 浙江望宸数智创业投资合伙企业（有限合伙） | | ...

Industry Overview - The Chinese media industry has maintained rapid growth over the past 20 years, but growth rates have slowed due to the saturation of internet user demographics and the decline in traditional media advertising revenues [1][13] - In 2019, the growth rate of the media industry fell below 10% for the first time, with a total output value of 22,625.4 billion yuan, reflecting a growth rate of 7.95% [1][13] - The media industry experienced rare negative growth in 2022, primarily due to macroeconomic pressures, the impact of the pandemic, and regulatory changes in sectors like online gaming [1][13] - In 2023, the media industry began to recover, with a total output value of 31,518.23 billion yuan, marking an 8.38% year-on-year increase [1][13] - The projected total output value for the media industry in 2024 is approximately 34,157.9 billion yuan [1][13] Market Dynamics - The emergence of new competitive phenomena such as the rise of live-streaming e-commerce and the popularity of short dramas indicates that media companies must explore new avenues or enhance existing potential sectors to break through in a saturated market [1][13] - The media industry has formed a diverse and rich competitive landscape, encompassing content production, marketing services, channel distribution, and cultural communication [15] Policy and Regulation - Recent policies have focused on the integration of traditional and new media talent, encouraging professionals to leverage their skills across platforms to enhance the influence and credibility of mainstream media [7] - The government is also supporting high-quality cultural development, emphasizing the importance of original content creation across various media sectors [7] Industry Trends - The media industry is undergoing a profound transformation driven by technology, with AI and big data becoming core engines for content production and distribution [17] - The deep integration of media forms is reshaping user experiences, creating immersive storytelling through cross-media narratives and IP collaborations [18] - The industry is moving towards verticalization and community building, with platforms focusing on specific content areas to foster digital communities with strong cultural identities [19] Financial Performance - In 2022, the media sector's revenue was 4,701.87 billion yuan, a decline of 6.07% year-on-year, returning to 2019 levels [10] - The projected revenue for the media industry in 2024 is 6,059.64 billion yuan, reflecting a year-on-year growth of 1.89% [10] - The gaming sector showed significant growth, with revenues in the first half of 2025 reaching 544.52 billion yuan, a 22.17% increase year-on-year [11]

Core Insights - The article provides a comprehensive overview of the Chinese media industry, highlighting its vast and complex supply chain, which includes upstream, midstream, and downstream sectors [1][2][5]. Industry Overview - The Chinese media industry consists of various sectors, including publishing, film, exhibitions, broadcasting, internet marketing, and gaming, with numerous companies participating in each area [2][10]. - The industry is characterized by a large number of enterprises, with significant representation from companies such as BlueFocus (蓝色光标), Leo Group (利欧股份), and 37 Interactive Entertainment (三七互娱), all of which reported revenues exceeding 17 billion yuan in 2024 [10]. Regional Distribution - The majority of media companies in China are concentrated in Beijing, with over 121,000 registered media enterprises as of October 20, 2025. Guangdong follows with approximately 92,000 registered companies [5][7]. - Major representative companies are also distributed in Shanghai, Zhejiang, and Guangdong, indicating a concentration in the southeastern region of China [7]. Investment Trends - Recent investment activities in the media sector include acquisitions and capital increases in subsidiaries to expand business operations. Notable investments involve various companies across different funding rounds, including strategic investments and angel rounds [11][12].

Core Viewpoint - Zhejiang Media announced the establishment of a new investment partnership, Zhejiang Wangchen Digital Venture Capital Partnership, with a total subscription amount of RMB 201 million, where the company contributes RMB 100 million, accounting for 49.75% of the total subscription [1] Group 1 - The partnership was formed with Zhejiang Digital Culture Group and Hangzhou Xinglu Investment Management [1] - The first phase of capital contribution has been completed, with a total of RMB 100.5 million received, including the company's initial contribution of RMB 50 million [1]

证券代码：601921 证券简称：浙版传媒 公告编号：2025-048 浙江出版传媒股份有限公司关于参与设立 浙江望宸数智创业投资合伙企业（有限合伙）的进展公告 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： | 投资标的名称 | 浙江望宸数智创业投资合伙企业（有限合伙） | | | | | --- | --- | --- | --- | --- | | 投资金额（万元） | 10,000 | | | | | 投资进展阶段 | 完成 | 终止 | 交易要素变更 | 进展 | | | 募集失败 未能完成备案登记 | | | | | 特别风险提示 | 提前终止 | | | | | （如有请勾选） | 发生重大变更 | | | | | | 其他：基金在投资过程中受到宏观经济、行业周期、投资标的经营 | | | | | | 管理、交易方案等多种因素影响，可能因未寻求到合适的投资标的， | | | | | | 或因决策失误导致收益不及预期，存在投资风险。 | | | | 1 二、本次对外投资完成情况 近 ...