Industry Overview - The book retail industry refers to the process of selling books directly to end consumers, utilizing careful selection, pricing, promotion, and distribution to meet consumer demand while achieving commercial benefits for publishers and distributors [3] - Since 2020, China's book retail market has experienced fluctuations, with the market size declining from 98.7 billion yuan in 2021 to 87.1 billion yuan in 2022 [6] - In 2023, the market began to recover, with the retail market size slightly increasing to 91.2 billion yuan, representing a growth rate of 4.7% [6] Market Trends - By 2024, the integration of online and offline book sales channels has been established, driven by the rise of short video e-commerce and innovations in physical bookstores, leading to a significant market growth [6] - The industry code volume has reached 112.9 billion yuan in 2024, with a year-on-year growth rate of 23.8% [6] - The market is undergoing transformation, reflected in changes in consumer habits, marketing models, channel diversification, policy support, and technological advancements [8] Sales Channel Structure - In 2024, the market share of different sales channels is as follows: platform e-commerce accounts for 40.92%, short video e-commerce for 30.48%, vertical and other e-commerce for 14.71%, and offline physical stores for 13.99% [8] - The significant increase in the market share of short video e-commerce and offline physical stores compared to the previous year indicates a dynamic growth in the book retail sector [8] Key Players - Notable listed companies in the industry include CITIC Publishing (300788), China South Publishing (601098), Xinhua Wenhui (601811), and others [2] - Other relevant enterprises include Zhejiang Xinhua Bookstore Group, Beijing Ren Tian Bookstore Group, and various local bookstores [2]

Core Insights - The Chinese book retail market has experienced fluctuations since 2020, with a decline in market size from 987 billion yuan in 2021 to 871 billion yuan in 2022, followed by a slight recovery to 912 billion yuan in 2023, representing a growth rate of 4.7% [1][5] - In 2024, the market is expected to achieve rapid growth, with the industry scale reaching 1,129 billion yuan, a year-on-year growth rate of 23.8%, driven by the rise of short video e-commerce and innovations in physical bookstores [1][5] Industry Overview - Book retail refers to the process of selling books directly to end consumers, involving careful selection, pricing, promotion, and distribution to meet consumer demand while achieving commercial benefits for publishers and distributors [2] - The industry has seen a stable growth in the number of physical bookstores, with a rise of distinctive and diverse new bookstores, contributing to a preliminary establishment of an integrated online and offline sales channel [2] Market Dynamics - The book retail market is undergoing transformation, reflected in changes in consumer habits, marketing models, channel diversification, policy support, and technological advancements [7] - In 2024, the market structure shows that platform e-commerce accounts for 40.92% of the market, short video e-commerce for 30.48%, while vertical and other e-commerce and offline physical stores account for 14.71% and 13.99%, respectively [7] Book Categories - The largest category in the book retail market is children's books, accounting for 28.16% of the market in 2024, followed by educational materials at 25.33%, supported by a large user base of students [9] Competitive Landscape - The market competition is characterized by diversification and the integration of online and offline sales. Major online platforms like Dangdang and JD Books dominate the market, while physical bookstores like Xinhua Bookstore and independent bookstores enhance their competitiveness through cultural experiences and events [11] - Companies such as CITIC Publishing, Zhongnan Media, and Xinhua Wenhui are key players in the market, each with distinct business focuses ranging from educational materials to digital publishing [13] Development Trends - The integration of online and offline channels is accelerating, with a predicted stable online channel share of 65%-70% and offline bookstores achieving 30%-35% in the next five years [17] - Digitalization and personalized services are emerging trends, with the digital education market expected to exceed 5 billion yuan by 2025, accounting for 15% of the overall market [18][19] - Government policies are continuously supporting the industry's transformation and high-quality development, with initiatives like a 5 billion yuan fund for physical bookstore upgrades [20]

Core Points - The company announced a cash dividend of 0.102 CNY per share, totaling approximately 194.2 million CNY to be distributed to shareholders [1][2] - The dividend distribution was approved at the annual shareholders' meeting held on June 30, 2025 [1] - Key dates for the dividend distribution include the record date on July 11, 2025, and the ex-dividend date on July 14, 2025 [1] Dividend Distribution Details - The total number of shares for the dividend calculation is 1,903,968,054 [1] - The cash dividend will be distributed through China Securities Depository and Clearing Corporation Limited, Shanghai Branch [1] - Shareholders who have not completed designated trading will have their dividends held by the clearing company until the trading is completed [1] Taxation Information - For individual shareholders, dividends are subject to different tax rates based on the holding period, with a 20% tax for holdings of one month or less, 10% for holdings between one month and one year, and no tax for holdings over one year [3] - Qualified Foreign Institutional Investors (QFII) will have a 10% withholding tax applied, resulting in a net dividend of 0.0918 CNY per share [5] - Other institutional investors are responsible for their own tax obligations, with a net dividend of 0.102 CNY per share [5]

证券代码：601949 证券简称：中国出版 公告编号：2025-031 中国出版传媒股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.102元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放 | | --- | --- | --- | --- | --- | | | | | | 日 | | Ａ股 | 2025/7/11 | － | 2025/7/14 | 2025/7/14 | 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 6 月 30 日的2024年年度股东会审议通过。 二、 分配方案 1. 发放年度：2024年年度 3. 分配方案： 本次利润分配以方案实施前的公司总股本1,903,968,054股为基数，每股派发现 金红利0.102元（含税），共计派发现金红利194,204,741.51元。 三、 相关日期 | | | | | 日 | ...

证券代码：601949 证券简称：中国出版 公告编号：2025-028 中国出版传媒股份有限公司 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 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： ? 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 6 月 30 日 (二)股东会召开的地点：中国出版传媒股份有限公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 份总数的比例（%） 78.1149 本次股东会由董事长黄志坚先生主持，会议采用现场会议和网络投票相结合 的方式表决，本次会议的召集、召开和表决方式符合《公司法》和《公司章程》 的有关规定。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 审议结果：通过 表决情况： | 股东类型 | | 同意 | | 反对 | | 弃权 | | | | --- | --- | --- | --- | --- | --- | --- | --- ...

Group 1 - The legal opinion letter confirms that the 2024 annual shareholders' meeting of China Publishing Media Co., Ltd. was convened and conducted in accordance with relevant laws and regulations [1][4][16] - The meeting was announced 20 days in advance, including details such as date, time, location, agenda items, voting methods, and record date, complying with legal requirements [3][4] - A total of 6 shareholders and their proxies attended the meeting, representing 1,340,851,445 shares, which is 70.42% of the total shares, indicating a valid quorum [4][5] Group 2 - The meeting allowed for online voting, with 299 shareholders participating, representing 146,431,802 shares, or 7.69% of the total shares [5][6] - The voting process was conducted in accordance with the rules, with results announced immediately after counting [6][8] - The meeting included separate voting for small investors, with 97.1266% voting in favor of the relevant proposals, demonstrating strong support [9][10] Group 3 - The meeting's resolutions included the election of several non-independent and independent directors, all of which were approved by a majority vote [16][17] - The legal opinion concludes that all procedures and results of the shareholders' meeting are valid and comply with the relevant laws and regulations [16][17]

证券代码：601949 证券简称：中国出版 公告编号：2025-030 中国出版传媒股份有限公司 关于董事会完成换届选举暨聘任高级管理人员的公告 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个别及连带责任。 中国出版传媒股份有限公司（以下简称"公司"）于 2025 年 6 月 30 日召开 2024 年年度股东会，选举产生公司第四届董事会非独立董事 5 名，独立董事 4 名，公司第四届董事会任期自股东会选举通过之日起三年。 （二）董事会各专门委员会调整情况 第四届董事会第一次会议审议通过《关于调整董事会专门委员会成员的议 案》，董事会各专门委员会人员构成如下： | 专门委员会 | 成 | 员 | | --- | --- | --- | | 审计委员会 | 主任委员：曹艳春 | | | | 委员：黄志坚、王梦秋 | | | 战略委员会 | 主任委员：黄志坚 | | | | 委员：茅院生、张纪臣、臧永清、韩芳 | | | 提名委员会 | 主任委员：徐江旻 | | | | 委员：茅院生、王梦秋 | | | 薪酬委员会 | 主任委员：刘守豹 ...

证券代码：601949 证券简称：中国出版 公告编号：2025-028 中国出版传媒股份有限公司 2024年年度股东会决议公告 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东会由董事长黄志坚先生主持，会议采用现场会议和网络投票相结合 的方式表决，本次会议的召集、召开和表决方式符合《公司法》和《公司章程》 的有关规定。 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 6 月 30 日 (二)股东会召开的地点：中国出版传媒股份有限公司会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 305 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,487,283,247 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 78.1149 | 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： (五 ...

北京市中伦律师事务所 关于中国出版传媒股份有限公司 2024 年年度股东会的 法律意见书 致：中国出版传媒股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受中国出版传媒股份有限公 司（以下简称"公司"）的委托，就公司 2024 年年度股东会（以下简称"本次 股东会"）召开的有关事宜，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 公司股东会规则》（以下简称"《股东会规则》"）等法律、法规、规范性文件 和《中国出版传媒股份有限公司章程》（以下简称"《公司章程》"）、《中国 出版传媒股份有限公司股东会议事规则》（以下简称"《股东会议事规则》"） 的有关规定，出具本法律意见书。 为出具本法律意见书，本所律师审查了公司本次股东会的有关文件和材料。 本所律师得到公司如下保证，即其已提供了本所律师认为出具本法律意见书所必 需的材料，所提供的原始材料、副本、复印件等材料、口头证言均符合真实、准 确、完整的要求，有关副本、复印件等材料与原始材料一致。 在本法律意见书中，本所律师对本次股东会的召集、召开程序、出席会议 1 法律意见书 人员资格、召集人 ...

证券代码：601949 证券简称：中国出版 公告编号：2025-029 中国出版传媒股份有限公司 第四届董事会第一次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 中国出版传媒股份有限公司（以下简称"公司"）根据《公司法》和《公司 章程》的规定，经全体董事一致同意，于 2025 年 6 月 30 日以现场会议方式召开 第四届董事会第一次会议。会议应出席董事 9 名，实际出席董事 9 名，符合《公 司法》和《公司章程》关于召开董事会会议人数的规定。会议的召集、召开、表 决程序符合《公司法》和《公司章程》的规定。 二、董事会会议审议情况 1.审议通过《关于选举公司董事长的议案》 具体内容详见公司同日在指定媒体和上交所网站（www.sse.com.cn）披露的 《中国出版传媒股份有限公司关于董事会完成换届选举暨聘任高级管理人员的 公告》（公告编号 2025-030）。 具体内容详见公司同日在指定媒体和上交所网站（www.sse.com.cn）披露的 《中国出版传媒股份有限公司关于董事会完成 ...