Core Viewpoint - The company reported a decline in both revenue and net profit for the first half of 2025 compared to the previous year [2] Financial Performance - The company's operating revenue for the first half of 2025 was 2.098 billion yuan, representing a year-on-year decrease of 14.94% [2] - The net profit attributable to shareholders was 133 million yuan, down 14.89% year-on-year [2] - The basic earnings per share stood at 0.0698 yuan [2]

证券代码：601949 证券简称：中国出版 公告编号：2025-032 中国出版传媒股份有限公司 第四届董事会第二次会议决议公告 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《中华人民共和国公 司法》（以下简称《公司法》）和《中国出版传媒股份有限公司章程》（以下简 称《公司章程》）的规定，于 2025 年 8 月 27 日召开第四届董事会第二次会议， 本次会议通知已于 2025 年 8 月 18 日发出。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《关于公司 2025 年半年度报告的议案》。 本议案已经第四届董事会审计委员会第一次会议全票审议通过。 具体内容详见公司同日在上交所网站和次日在公司指定媒体披露的《中国出 版传媒股份有限公司 2025 年半年度报告》及摘要。 中国出版传媒股份有 ...

Group 1 - The core viewpoint of the article is that China Publishing (601949) reported a decline in both revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Group 2 - For the first half of 2025, the company achieved an operating income of 2.098 billion yuan, representing a year-on-year decrease of 14.94% [1] - The net profit attributable to the parent company was 133 million yuan, which is a year-on-year decline of 14.89% [1] - The basic earnings per share were reported at 0.0698 yuan [1]

Group 1 - The board of directors of China Publishing Media Co., Ltd. held its second meeting of the fourth session on August 27, 2025, with all procedures complying with the Company Law and the company's articles of association [1] - The meeting was attended by 9 directors, and the resolution regarding the half-year report was unanimously approved with 100% of the votes in favor [1][2] - The results of the vote indicated that there were 9 votes in favor, 0 against, and 0 abstentions, confirming the approval of the proposal [2] Group 2 - The proposal regarding the special report on the use of raised funds for the first half of 2025 was also unanimously approved by the audit committee [2] - The details of the resolutions and reports will be disclosed on the Shanghai Stock Exchange and in designated media [2]

| | 证券代码：601949 | | | | 证券简称：中国出版 | | 公告编号：2025-034 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 中国出版传媒股份有限公司 | | | | | | | | | | | 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"）根据《上海证券交易所上 | | | | | | | | | 市公司自律监管指引第 | | | 3 号——行业信息披露》的相关规定，现将 | | 2025 年上半 | | | | | | 年主要经营数据（未经审计）公告如下： | | | | | | | | | | | | | | | | | 单位：万元 | | | | | 销售码洋 | | | 营业收入 | | | 营业成本 | | 毛 | | | 利率（%） | | | | ...

Summary of Key Points Core Viewpoint - The report outlines the fundraising activities and management of China Publishing Media Co., Ltd., detailing the amounts raised, their usage, and the establishment of special accounts for managing these funds. Fundraising Overview - In 2017, the company raised a total of RMB 1,217,430,000 through the issuance of 36,450,000 shares at a price of RMB 3.34 per share, with a net amount of RMB 1,145,299,567.30 after deducting issuance costs [1][2] - As of June 30, 2025, the balance in the fundraising special account was RMB 18,223,199.99 [1] Fund Management - The company has established a fundraising management system in compliance with regulatory requirements, ensuring that funds are stored and used appropriately [1][2] - A special account was opened at CITIC Bank for managing the funds, with a three-party supervision agreement in place [2][3] Fund Usage - The total amount of funds used for projects as of June 30, 2025, was RMB 1,020,507,596.12, with RMB 552,192,105.08 allocated to supplement working capital [1][2] - The company reported a total of RMB 325,645,175.57 raised in 2022 through a specific issuance, with net proceeds after costs being RMB 325,645,175.57 [1][2] Project-Specific Fund Allocation - Funds have been allocated to various projects, including the "Cloudbag Education Cloud Service Platform" and "Chinese Art Education Multimedia Development Platform," with specific accounts set up for each project [3][4] - The company has terminated certain projects due to market changes, reallocating remaining funds to other initiatives or keeping them in the special account [8][9] Financial Management Practices - The company has engaged in cash management practices, including investing idle funds in structured deposits and other financial products to optimize returns [11][12] - As of June 30, 2025, the company had invested RMB 55,000,000 in notice deposits and RMB 195,000,000 in structured deposits [11][12] Compliance and Reporting - The company adheres to the regulatory guidelines set forth by the China Securities Regulatory Commission regarding the management and use of raised funds [1][2] - Regular reports are provided to ensure transparency and accountability in the use of funds raised through public offerings [1][2]

Core Viewpoint - The report highlights the financial performance of China Publishing Media Holdings Co., Ltd. for the first half of 2025, indicating a decline in revenue and profit compared to the same period in the previous year, while emphasizing the company's commitment to enhancing its publishing capabilities and adapting to industry changes [1][2]. Company Overview and Financial Indicators - The company reported a total revenue of approximately 2.1 billion RMB, a decrease of 14.94% compared to the same period last year [2]. - The total profit for the period was approximately 137.14 million RMB, down 33.41% year-on-year [2]. - The net profit attributable to shareholders was approximately 132.87 million RMB, reflecting a decrease of 14.89% compared to the previous year [2]. - The company's total assets at the end of the reporting period were approximately 16.04 billion RMB, a slight decrease of 0.37% from the end of the previous year [2]. Industry and Main Business Situation - The publishing industry is characterized as a traditional sector facing challenges and opportunities due to the integration of traditional and digital publishing [3]. - The overall retail market for books showed a slight increase in volume by 0.73% but experienced a decline in actual sales by 0.31% during the first half of 2025 [3]. - The company is focusing on enhancing its thematic publishing, particularly in humanistic and social sciences, to align with national cultural goals [3][4]. Operational Analysis - The company has emphasized the importance of major publishing projects, such as the "Revival Library" and the third edition of the "Encyclopedia of China," to strengthen its cultural influence [4][5]. - The company has actively engaged in promoting reading among the public and has organized various reading activities to enhance community engagement [6]. - International cooperation has been a focus, with the company exporting 458 copyrights and importing 470 copyrights in the first half of 2025 [7]. Competitive Advantages - The company possesses strong brand advantages with several well-known publishing houses under its umbrella, contributing to its market influence [8]. - It maintains the highest market share in the national book retail market, showcasing its scale advantage [8]. - The company has a rich resource base in various literary fields, which enhances its content offerings and market competitiveness [8]. Major Changes in Operations - The report indicates no significant changes in the company's operations or any major events that could impact its future performance [10].

Core Viewpoint - China Publishing Media Co., Ltd. reported a decline in revenue and profit for the first half of 2025, indicating challenges in the publishing industry and potential impacts on future performance [1][2]. Financial Summary - Total assets at the end of the reporting period were approximately CNY 16.04 billion, a decrease of 0.37% compared to the previous year [1]. - Net assets attributable to shareholders increased by 1.42% to approximately CNY 9.73 billion [1]. - Operating revenue for the period was approximately CNY 2.10 billion, down 14.94% year-on-year [1]. - Total profit decreased by 33.41% to approximately CNY 137.14 million [1]. - Net profit attributable to shareholders was approximately CNY 132.87 million, a decline of 14.89% compared to the same period last year [1]. - The net profit after deducting non-recurring gains and losses fell by 40.70% to approximately CNY 68.96 million [1]. - The net cash flow from operating activities was negative at approximately CNY -249.71 million [1]. - The weighted average return on net assets decreased by 0.3 percentage points to 1.37% [1]. - Basic and diluted earnings per share were both CNY 0.0698, down 14.88% [1]. Shareholder Structure - The largest shareholder, China Publishing Group Corporation, holds 69.79% of the shares [2]. - Other significant shareholders include China Telecom Group Corporation with 7.28% and various investment funds with smaller stakes [2].

中国出版传媒股份有限公司2025 年半年度报告 公司代码：601949 公司简称：中国出版 中国出版传媒股份有限公司 2025 年半年度报告 1 / 168 中国出版传媒股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人黄志坚、主管会计工作负责人李学焦及会计机构负责人（会计主管人员）王飞 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 □适用 √不适用 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质 承诺，敬请投资者注意投资风险。 十一、 其他 □适用 √不适用 2 / 168 否 八、 是否存在违 ...

单位：万元 | | | 销售码洋 | | 营业收入 | | | 营业成本 | | | | 毛利率（%） | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 项 目 | | | 增长 | | | 增长 | | | 增长 | 去年同 | | 增 长 | | | 去年同期 | 本期 | 率% | 去年同期 | 本期 | 率% | 去年同期 | 本期 | 率% | 期 | 本期 | 率 | | | | | | | | | | | | | | 增 | | 一 | | | | | | | | | | | | 长 | | 般 | | | | | | | | | | | | 1.83 | | 图 | 357,844.96 | 323,348.87 | -9.64 | 129,046.97 | 109,075.94 | -15.48 | 82,931.66 | 68,102.50 | -17.88 | 35.74 | 37.56 | 个 | | 书 | | | | | | | | | | | | 百 | | ...