Group 1 - The company expects to achieve a net profit attributable to shareholders of 270 million to 310 million yuan for the first half of 2025, representing a decrease of 361.93 million to 401.93 million yuan compared to the same period last year, a year-on-year decline of 53.86% to 59.82% [2][4] - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, of 18 million to 35 million yuan, which is a decrease of 656.4 million to 673.4 million yuan compared to the same period last year, reflecting a year-on-year decline of 94.94% to 97.40% [2][4] - The performance forecast period is from January 1, 2025, to June 30, 2025 [3] Group 2 - In the same period last year, the total profit was 944.06 million yuan, with a net profit attributable to shareholders of 671.93 million yuan, and a net profit attributable to shareholders, excluding non-recurring gains and losses, of 691.40 million yuan [6] - The earnings per share for the previous year was 0.48 yuan [7] Group 3 - The decline in performance is primarily due to changes in the ordering method for educational supplementary materials in Jiangxi Province, which has led to a decrease in revenue and profit from educational books [8] - Additionally, the company's gaming business has seen a decline in scale and profit due to several existing game products entering the later stages of their lifecycle and new games still in development [8]

Core Viewpoint - The company, Publishing Media (601999), has shown a slight increase in stock price and reported modest revenue growth for 2024, indicating stability in its operations despite challenges in cash flow from certain business segments [1]. Group 1: Stock Performance - As of July 11, 2025, Publishing Media's stock closed at 7.15 yuan, up 3.32% from the previous week [1] - The stock reached a weekly high of 7.19 yuan and a low of 6.86 yuan during the same period [1] - The company's current total market capitalization is 3.939 billion yuan, ranking 25th out of 29 in the publishing sector and 3709th out of 5149 in the A-share market [1] Group 2: Financial Performance - For 2024, Publishing Media reported a revenue of 2.426 billion yuan, reflecting a year-on-year growth of 0.6% [1] - The company achieved a net profit attributable to shareholders of 1.02 billion yuan before non-recurring items and 870 million yuan after [1] - The material sales segment generated 516 million yuan in revenue, a year-on-year increase of 13.88%, accounting for 21.27% of total revenue [1] Group 3: Disclosure and Accounting Practices - The company provided detailed disclosures regarding major customers and suppliers, including their relationships and financial transactions [1] - It clarified the timing and methods for revenue recognition under the consignment return model, which complies with the Accounting Standards for Enterprises [1] - The increase in accounts receivable was attributed to slower collection from educational materials and increased revenue from material sales [1] Group 4: Financial Management - The company did not provision for impairment on special credit risk characteristics, considering its accounting treatment to be prudent [1] - It explained the rationale behind the rising trend in inventory impairment provisions [1] - Publishing Media holds a 71.17% stake in Bohong Fund but has not consolidated it in its financial statements [1]

Accounts Receivable - As of December 31, 2024, the balance of accounts receivable with special credit risk characteristics is 22.08 million yuan, with 93.78% coming from book sales [1] - The top three customers account for 93.77% of the receivables, totaling 20.70 million yuan, with significant amounts owed by Liaoning Northern Education Investment Holding Co., Ltd. and others [1] - The company has a history of consistent repayments from related parties, with no bad debt losses recorded historically, leading to no impairment provisions being made for the special credit risk characteristic portfolio [2][3] Other Receivables - The total balance of other receivables as of the end of 2024 is 137 million yuan, with 45.36% being over five years old [10] - Major other receivables include demolition compensation, housing reform funds, prepaid goods, and subsidies, with significant amounts owed by non-related parties [12][13][14][15][16] - The company has not made impairment provisions for certain long-term receivables due to the assessment of the creditworthiness and repayment ability of the debtors [21] Non-Current Assets - The company has a prepayment for real estate amounting to 48.92 million yuan, which has been reclassified from construction in progress to other non-current assets [22][30] - The property purchase was intended to expand operations, and the company has been actively pursuing the completion of the property despite delays [25][28] - The company has not recognized any impairment for the prepayment, as the property has been completed and there are no significant declines in market value [29][30] Cash and Cash Equivalents - The company reported cash and cash equivalents of 1.336 billion yuan, with bank deposits making up the majority [34][38] - Interest income for the reporting period was 27.99 million yuan, representing 2.10% of total cash [34][39] - The company has confirmed that there are no restrictions or limitations on cash beyond those disclosed, and all accounts are independently managed [43][46] Inventory - The ending inventory balance is 978 million yuan, with a significant portion being finished goods and a cumulative provision for inventory write-downs of 150 million yuan [47] - The inventory turnover rate is 2.38 times per year, and the company has implemented measures to reduce slow-moving inventory [47][51] - The company has assessed its inventory for impairment and has made provisions where necessary, ensuring compliance with accounting standards [51][54]

Core Viewpoint - The company received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting a detailed response to clarify various aspects of its business operations and financial disclosures. Business Operations - The company's main business includes book publishing and distribution, printing services, and material sales, achieving a revenue of 2.426 billion yuan, a year-on-year increase of 0.6% [1] - The net profit attributable to shareholders was 102 million yuan before deductions and 87 million yuan after deductions, with quarterly profits showing a trend from -8 million yuan in Q1 to 58 million yuan in Q4 [1] - The publishing and distribution segment includes general books and educational materials, utilizing both consignment and sales models [1] Revenue Breakdown - The material sales business generated 516 million yuan in revenue, a year-on-year increase of 13.88%, accounting for 21.27% of total revenue [1] Customer and Supplier Relationships - The company is required to disclose major customers and suppliers over the past three years, including their relationships, sales and purchase amounts, and settlement policies [2] - Specific customers include the Liaoning Provincial Education Department, which purchased educational materials worth approximately 36.28 million yuan, with a settlement period of 6 months [3] Revenue Recognition - The company must clarify the revenue recognition timing and methods under the consignment return model, ensuring compliance with accounting standards [2] - The material sales business's revenue recognition basis must also be explained, including whether it follows the gross or net method [2] Financial Performance Analysis - The company is asked to explain the reasons for quarterly performance fluctuations, considering gross margin levels, cost structures, and seasonal industry characteristics [2]

股票代码：601999 股票简称：出版传媒 编号：临 2025-020 北方联合出版传媒(集团)股份有限公司 关于上海证券交易所《关于北方联合出版 传媒(集团)股份有限公司2024年年度报告的 信息披露监管问询函》回复的公告 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。 北方联合出版传媒(集团)股份有限公司（以下简称"公司"）于近 日收到上海证券交易所下发的《关于北方联合出版传媒(集团)股份有限 公司 2024 年年度报告的信息披露监管问询函》（上证公函【2025】0771 号），要求公司针对函件中的信息进一步补充披露。公司收到函件后高 度重视，并立即组织相关人员对函件中的问题进行回复。现将相关回复 公告如下： 如无特殊说明，本回复中的金额均为万元。除特别说明外，若出现 各分项数值之和与总数尾数不符的情况，均为四舍五入所致。 问题 1.关于主营业务 年报显示，公司主营业务为图书出版及发行业务、印刷业务与物资 销售业务。报告期内，公司实现营业收入 24.26 亿元，同比增长 0.6%； 实现扣非前后归母净利润分别为 1.02 ...

Core Insights - The seminar titled "The Legendary Secretary of the Board" focused on modern corporate governance, the redefined value of board secretaries, and new opportunities in mergers and acquisitions as the Chinese capital market surpasses a total market value of one hundred trillion [1][3] Group 1: Key Themes from the Seminar - The concept of a "legendary board secretary" was emphasized, highlighting their role as chief governance officers who not only ensure compliance but also lead innovative practices in the capital market [3] - The importance of inheritance in corporate governance was discussed, with a focus on integrating value concepts into generational driving forces [3] - The seminar featured discussions on the "Four High Paths" strategy by Phoenix Publishing and Media Group, aimed at fostering a new development pattern through comprehensive external cooperation [3] Group 2: Insights on Corporate Governance - The core of corporate governance was explored through the lens of a modern enterprise system with Chinese characteristics, emphasizing the need for independent governance and limited shareholder responsibilities [5] - Practical experiences were shared regarding the role of an "active and progressive board," including the importance of external directors and thorough proposal evaluations [5] - The three-tiered approach to governance modernization was highlighted, showcasing the evolution from foundational systems to board innovation [5] Group 3: Cultural and Technological Transformations - The impact of AI technology, IP development, and cultural globalization on the publishing industry was discussed, showcasing how these elements contribute to new narratives in the sector [7] - Successful case studies, such as the global IP operations of companies like Pop Mart, were presented to illustrate the commercial value of innovation in cultural enterprises [7] - The surge in international expansion of online literature and short dramas was noted as evidence of China's cultural transmission potential in a technology-driven era [7] Group 4: Mergers and Acquisitions Insights - A roundtable forum addressed the new opportunities in mergers and acquisitions, with insights from experienced board secretaries on the importance of cultural integration and strategic upgrades [9] - Key principles for successful mergers were outlined, including the assessment of management capabilities and the integration of external resources [9] - The consensus reached during the seminar emphasized the importance of respecting rules, adhering to responsibilities, and valuing professionalism in corporate governance [9]

证券代码：601928 证券简称：凤凰传媒 公告编号：2025-019 重要内容提示： ● 每股分配比例 江苏凤凰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。 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分公司（以下简 称"中国结算上海分公司"）登记在册的本公司全体股东。 3.分配方案： 本次利润分配以方案实施前的公司总股本2,544,900,000股为基数，每股派发现金红利0.5元（含税），共 计派发现金红利1,272,450,000.00元。 A股每股现金红利0.5元 本次利润分配方案经公司2025年5月13日的2024年年度股东会审议通过。 ● 相关日期 ■ ● 差异化分红送转： 否 一、通过分配方案的股东会届次和日期 1.实施办法 （1）无限售条件流通股的红利委托中国结算上海分公司通过其资金清算系统向股权登记日上海证券交 易所收市后登记在册并在上海证券交易所各会员办理了指定交易的股东派发。已办理指定交易的投资者 可于红 ...

北京盈科(沈阳)律师事务所 关于北方联合出版传媒(集团)股份有限公司 2024 年年度股东大会的 法律意见书 盈科(沈阳)律师事务所 BEIJING YINGKE LAW FIRM SHENYANG OFFICE 辽宁省沈阳市和平区青年大街 286 号华润大厦 A 座 36、37 层 电话:(+8624) 31258866 传真:: (+8624) 31258855 邮编:110000 北京盈科(沈阳)律师事务所 关于北方联合出版传媒(集团)股份有限公司 2024 年年度股东大会的法律意见书 北京盈科(沈阳)律师事务所 关于北方联合出版传媒(集团)股份有限公司 2024 年年度股东大会的 法律意见书 致:北方联合出版传媒(集团)股份有限公司 北方联合出版传媒(集团)股份有限公司(以下简称"公司")2024年年度 股东大会(以下简称"本次会议")于 2025年 6 月 26 日召开。北京盈科(沈 阳)律师事务所(以下简称"盈科沈阳")受公司委托,指派马俊龙律师、王典 律师(以下简称"盈科沈阳律师")出席了本次会议。根据《中华人民共和国证 券法》(以下简称"《证券法》")、《中华人民共和国公司法》(以下简称"《公 ...

证券代码：601999 证券简称：出版传媒 公告编号：临 2025-019 北方联合出版传媒（集团）股份有限公司 2024年年度股东会决议公告 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 26 日 (二) 股东会召开的地点：辽宁出版大厦七层会议室 | 1、出席会议的股东和代理人人数 | 94 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 374,411,839 | | 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 | 67.9618 | | 比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，股 东会主持情况等。 本次股东会采取现场记名投票表决与网络投票表决相结合的方 式召开。会议由公司董事会提议召开，公司董事长张东平主持本次股 东会。 本次股东会的召集、召开和表决方式符合《公司法》、《公司章 程》等法律、法规及规范性文件的规 ...

证券代码：601098 证券简称：中南传媒 公告编号：2025-026 中南出版传媒集团股份有限公司 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0.45元 本次利润分配方案经公司2025年5月20日的2024年年度股东大会审议通过。 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分公司（以下简 称"中国结算上海分公司"）登记在册的本公司全体股东。 3.分配方案： 本次利润分配以方案实施前的公司总股本1,796,000,000股为基数，每股派发现金红利0.45元（含税）， 共计派发现金红利808,200,000元。 1.实施办法 （1）无限售条件流通股的红利委托中国结算上海分公司通过其资金清算系统向股权登记日上海证券交 易所收市后登记在册并在上海证券交易所各会员办理了指定交易的股东派发。已办理指定交易的投资者 可于红利发放日在其指定的证券营业部领取现金红利，未办理指定交易的股东红利暂由中国结算上海分 ...