Financial Performance - The company's operating revenue for Q3 2025 was ¥1,662,332,079.30, a decrease of 10.68% compared to the same period last year[2] - The total profit for the period was -¥40,337,632.01, representing an increase of 34.26% year-on-year[2] - The net profit attributable to shareholders was -¥42,635,990.79, a decline of 41.53% compared to the previous year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥72,491,269.20, an increase of 52.88% year-on-year[2] - The basic earnings per share for the period was -¥0.01, a decrease of 66.67% compared to the same period last year[2] - Total operating revenue for the first three quarters of 2025 was ¥6,755,566,332.21, a decrease of 4.76% compared to ¥7,093,706,809.80 in the same period of 2024[22] - Net profit for the first three quarters of 2025 reached ¥636,013,533.14, an increase of 45.5% compared to ¥437,322,132.26 in 2024[24] - Earnings per share for the first three quarters of 2025 was ¥0.29, up from ¥0.20 in the same period of 2024[26] - The company’s total equity attributable to shareholders was ¥13,604,627,449.08, slightly down from ¥13,696,300,546.36 in the previous year[19] - The company’s other comprehensive income after tax was -¥643,415.36 for the first three quarters of 2025, compared to ¥6,471,286.00 in 2024[26] - The company's net profit for the first three quarters of 2025 reached CNY 992,331,096.65, an increase from CNY 857,878,866.63 in the same period of 2024, representing a growth of approximately 15.6%[42] - The company reported a significant increase in investment income, totaling CNY 982,796,628.44 in 2025, compared to CNY 832,933,082.29 in 2024, marking a growth of about 18%[42] Assets and Liabilities - The total assets at the end of the period were ¥21,819,159,915.42, an increase of 0.25% from the end of the previous year[3] - The equity attributable to shareholders decreased by 0.67% to ¥13,604,627,449.08 compared to the end of the previous year[3] - As of September 30, 2025, the total assets of Zhejiang Publishing Media Co., Ltd. amounted to CNY 21,819,159,915.42, an increase from CNY 21,763,771,819.45 at the end of 2024[14] - The company's current assets totaled CNY 16,714,130,850.43, slightly up from CNY 16,536,976,425.70 in the previous period[15] - The total liabilities increased to CNY 8,172,736,210.05 from CNY 8,027,172,354.63, marking a rise of approximately 1.8%[17] - The total liabilities decreased to 3,368,054,769.16 RMB from 3,630,524,726.05 RMB[38] - The company's total assets remained stable at 13,257,419,900.71 RMB compared to 13,251,982,450.15 RMB[38] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥73,684,141.56, an increase of 242.30% year-on-year[2] - Cash inflow from operating activities for the first three quarters of 2025 was ¥7,133,474,331.31, a decrease of 6.45% from ¥7,627,223,019.60 in 2024[29] - The net cash flow from operating activities was 73,684,141.56 RMB, a significant improvement compared to -51,782,526.08 RMB in the previous period[31] - Total cash outflow from operating activities amounted to 7,059,790,189.75 RMB, down from 7,679,005,545.68 RMB[31] - The net cash flow from investing activities was -513,740,045.33 RMB, an improvement from -3,402,743,420.85 RMB year-over-year[31] - The cash inflow from investment activities was 3,534,168,446.10 RMB, compared to 3,247,892,536.37 RMB in the previous period[31] - Investment activities generated a net cash flow of CNY 471,942,217.15 in the first three quarters of 2025, a recovery from a negative cash flow of CNY -326,975,630.34 in the same period of 2024[44] Operational Metrics - The company expects stable sales for educational materials throughout the year, contributing to the profit increase[7] - The total non-recurring gains and losses for the period amounted to ¥29,855,278.41, with significant contributions from government subsidies and investment management gains[5] - The company has not disclosed any new product developments or market expansion strategies in the current report[12] - Total operating costs for the first three quarters of 2025 were ¥6,283,755,815.03, down 5.22% from ¥6,629,953,344.26 in 2024[22] - The company reported a financial income of ¥122,593,913.54 for the first three quarters of 2025, down from ¥203,918,609.27 in 2024[24] - Research and development expenses for the first three quarters of 2025 were ¥15,467,498.30, a decrease of 10.06% compared to ¥17,198,785.83 in 2024[24] - The company's operating profit for the first three quarters of 2025 was CNY 992,779,675.97, up from CNY 857,887,963.03 in 2024, reflecting a growth of approximately 15.7%[42] Inventory and Receivables - Cash and cash equivalents decreased to CNY 4,697,621,765.89 from CNY 6,037,889,179.01, indicating a decline of approximately 22.2%[14] - The accounts receivable stood at CNY 930,230,134.47, down from CNY 1,097,547,517.09, reflecting a decrease of about 15.3%[14] - Inventory increased significantly to CNY 4,237,915,288.75 from CNY 3,155,379,953.04, representing an increase of about 34.3%[15] - The total non-current assets decreased to CNY 5,105,029,064.99 from CNY 5,226,795,393.75, a decline of approximately 2.3%[15] - The company reported a total of CNY 5,678,773,401.07 in accounts payable, up from CNY 5,409,728,802.74, indicating an increase of about 4.9%[17]

浙江出版传媒股份有限公司 对外投资管理办法 （2025 年 10 月修订） 第一章 总 则 第一条 为进一步规范浙江出版传媒股份有限公司（以下简称 "公司"）对外投资行为，建立科学、高效的投资决策体系和管理 机制，保障投资安全，提高投资效益，维护公司和股东的合法权益。 根据《中华人民共和国公司法》《上海证券交易所股票上市规则》 及《浙江出版传媒股份有限公司章程》（以下简称"《公司章程》"） 等有关规定，结合公司实际，制定本办法。 第二条 本办法所称对外投资是指公司以获取收益为目的而将 货币资金、实物或无形资产等作价出资，对外进行的各种形式投资 活动。 第三条 本办法适用于公司本级及所属全资、控股子公司（以 下简称"子公司"）的对外投资活动。 第四条 公司对外投资活动应当遵循以下原则： （二）符合公司发展战略，有利于合理配置公司资源； （三）投资规模应当与公司资产经营规模、负债水平和实际筹 - 1 - 资能力相适应，不影响公司主业发展； （四）投资活动应当注重投资风险防控，科学决策。 第二章 对外投资管理的组织机构 第五条 公司股东大会、董事会、总经理办公会是公司对外投 资的决策机构，各自在其权限范围内对公司对 ...

单位：万元 | 项目 | | 销售码洋 | | 增长 | | 营业收入 | | | 营业成本 | 增长 | | 毛利率（%） | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 去年 同期 | | 本期 | 率 (%) | 去年 同期 | 本期 | 增长 率(%) | 去年 同期 | 本期 | 率 (%) | 去年 同期 | 本期 | 增长 率 (%) | | 一般图 | | | | | | | | | | | | | 减少 | | 书出版 | 512,651 .62 | | 456,663 .13 | -10.92 | 111,798 .10 | 101,924 .14 | -8.83 | 84,50 3.32 | 78,52 2.33 | -7.08 | 24.41 | 22.96 | 1.45 个百 | | 业务 | | | | | | | | | | | | | 分点 | 特此公告。 浙江出版传媒股份有限公司董事会 证券代码：601921 证券简称：浙版传媒 公告编号 ...

Core Insights - The company reported a third-quarter revenue of 1.662 billion yuan, representing a year-on-year decline of 10.68% [1] - The net profit for the third quarter was -42.636 million yuan, showing a year-on-year increase of 41.53% [1] - For the first three quarters, the total revenue was 6.756 billion yuan, down 4.77% year-on-year [1] - The net profit for the first three quarters reached 633 million yuan, reflecting a year-on-year growth of 46.12% [1]

Core Points - The second Zhejiang Publishing Group Outstanding Authors Conference was held in Hangzhou, themed "Gathering Strength for Innovation, Composing a New Chapter" [1] - The event was guided by the Zhejiang Provincial Party Committee's Publicity Department and hosted by the Zhejiang Publishing United Group, with nearly 200 participants including leaders, authors, and scholars [1] Group 1: Cultural Significance - The conference emphasizes the importance of establishing a continuous and sincere mechanism for communication between authors and publishers, aligning with global cultural practices [3] - The publishing industry is highlighted as a collaborative effort between authors and publishers, with a focus on respecting creativity and fostering a supportive environment for authors [3][5] Group 2: Achievements and Future Plans - Zhejiang has produced significant works over the past 20 years, contributing to high-level cultural development, with numerous awards received for outstanding publications [5] - The establishment of a 100 million yuan cultural development fund and the introduction of the "Zhijiang Tide" cultural award are aimed at enhancing the creative ecosystem [5] Group 3: New Initiatives - The conference unveiled three new publishing brands: "Tracing Roots," "Cultural Pulse," and "Set Sail," which aim to create a collaborative publishing ecosystem [10][12] - Eight key publishing projects were signed, covering various genres including academic culture and children's literature, marking a deeper strategic partnership with authors [14] Group 4: Innovation and Research - The establishment of the Zhijiang Publishing Research Institute aims to integrate academia and industry, focusing on themes like digital publishing and internationalization [15][17] - The "Famous Writers Write Zhejiang" project continues to promote diverse perspectives on Zhejiang's culture and history, with new projects signed during the conference [19] Group 5: Author Recognition - The "Wenlan Award" was presented to three authors for their significant contributions, reinforcing the commitment to recognizing and promoting literary excellence [10][21] - The conference featured speeches from notable authors sharing insights on thematic writing and the challenges and opportunities in educational publishing [21]

Market Overview - The publishing sector experienced a decline of 0.48% on the previous trading day, with Guomai Culture leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Individual Stock Performance - Notable gainers in the publishing sector included: - Times Publishing (600551) with a closing price of 9.79, up 10.00% and a trading volume of 432,900 shares [1] - ST Huawen (000793) closed at 3.24, up 4.52% with a trading volume of 589,900 shares [1] - Conversely, Guomai Culture (301052) saw a decline of 3.31%, closing at 45.83 with a trading volume of 119,400 shares [2] - Other notable decliners included: - Chinese Online (300364) down 2.86% at 26.79 [2] - Reader Culture (301025) down 2.31% at 9.73 [2] Capital Flow Analysis - The publishing sector saw a net outflow of 263 million yuan from institutional investors, while retail investors contributed a net inflow of 158 million yuan [2] - The capital flow for individual stocks showed: - Times Publishing had a net inflow of 1.35 billion yuan from institutional investors, but a net outflow from retail investors [3] - ST Huawen had a net inflow of 11.44 million yuan from institutional investors [3] - Reader Culture experienced a slight net outflow of 336,200 yuan from institutional investors [3]

Market Overview - The publishing sector increased by 1.04% on October 21, with Rongxin Culture leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Individual Stock Performance - Rongxin Culture (301231) saw a significant rise of 20.00%, closing at 30.60 with a trading volume of 206,300 shares and a transaction value of 600 million yuan [1] - Ning Media (002181) increased by 5.20%, closing at 9.10 with a trading volume of 1,011,900 shares [1] - Longban Media (605577) rose by 3.89%, closing at 13.90 with a trading volume of 56,700 shares [1] - Other notable performers include: - Publishing Media (666109) up 3.80% to 7.11 - Tianzhou Culture (300148) up 3.35% to 4.63 - City Media (600229) up 2.44% to 6.71 [1] Capital Flow Analysis - The publishing sector experienced a net inflow of 77.58 million yuan from institutional investors, while retail investors saw a net outflow of 31.81 million yuan [2] - Major stocks with significant net inflows include: - Zhongwen Online (300364) with a net inflow of 64.29 million yuan [3] - Changjiang Media (600757) with a net inflow of 31.98 million yuan [3] - Conversely, stocks like Rongxin Culture (301231) and Tianzhou Culture (300148) experienced net outflows from retail investors [3]

Market Overview - The publishing sector increased by 0.01% compared to the previous trading day, with Rongxin Culture leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up by 1.22%, while the Shenzhen Component Index closed at 13118.75, up by 1.73% [1] Individual Stock Performance - Rongxin Culture (301231) closed at 23.70, with a rise of 2.20% and a trading volume of 24,500 lots, amounting to a transaction value of 57.44 million [1] - Tianzhou Culture (300148) closed at 4.57, up by 1.78%, with a trading volume of 197,600 lots and a transaction value of 89.65 million [1] - Zhongwen Online (300364) closed at 25.59, increasing by 1.31%, with a trading volume of 259,400 lots and a transaction value of 654 million [1] - Other notable stocks include Guomai Culture (301052) at 46.20 (+1.09%) and Yuedu Media (002181) at 8.24 (+0.73%) [1] Capital Flow Analysis - The publishing sector experienced a net outflow of 41.87 million from institutional investors, while retail investors saw a net inflow of 23.18 million [2] - The net inflow from speculative funds was 18.69 million [2] Detailed Capital Flow for Selected Stocks - Zhongyuan Media (000719) had a net outflow of 12.14 million from institutional investors, with a retail net outflow of 17.89 million [3] - Zhongwen Online (300364) saw a net inflow of 10.05 million from institutional investors, but a net outflow of 7.53 million from retail investors [3] - Publishing Media (601999) had a net inflow of 5.02 million from institutional investors, while retail investors experienced a net outflow of 2.55 million [3]

Core Viewpoint - Zhejiang Version Media has a minimal indirect stake in Yushu Technology through its investment in the Jiuqi Fund, which does not significantly impact its operations [1] Group 1 - Zhejiang Jiuqi Digital Asset Equity Investment Fund Partnership (Limited Partnership) has invested in Jiaxing Huamao Equity Investment Partnership (Limited Partnership), holding a 2.44% stake in it [1] - Jiaxing Huamao is a private equity fund specifically investing in Yushu Technology [1] - The company holds a 99.34% stake in the Jiuqi Fund and has invested 2 million yuan indirectly in Yushu Technology, resulting in a final penetrated holding ratio of 0.015% [1] - The indirect equity stake in Yushu Technology is extremely low and does not affect the company's production and operations [1]

证券代码：601921 证券简称：浙版传媒 公告编号：2025-044 浙江出版传媒股份有限公司 关于参与设立投资基金暨关联交易的公告 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。 重要内容提示： 浙江出版传媒股份有限公司（以下简称"公司"）与浙报数字文化集团股份有 限公司（以下简称"浙数文化"）、杭州星路投资管理有限公司（以下简称"星路投资"） 合作发起设立浙江望宸数智创业投资合伙企业（有限合伙）（暂定名，以企业登记 机关最终核准登记为准，以下简称"基金"或"合伙企业"），本次基金总认缴出资金额 为人民币 20,100 万元，公司作为有限合伙人以自有资金认缴出资人民币 10,000 万 元，占基金本次总认缴出资金额的 49.75%。 浙数文化正拟通过非公开协议转让方式受让公司控股股东、实际控制人浙江 出版联合集团有限公司所持有的公司 133,336,666 股股份，占公司总股本的 6%。公 司根据实质重于形式原则，将浙数文化认定为公司的关联法人。公司本次与浙数文 化作为有限合伙人共同参与设立基金构成关联交易。本次交易不构成 ...