Industry Overview - In the first quarter of 2025, the film industry in China experienced steady growth, driven by high-quality films during the Spring Festival, resulting in a total box office of 24.386 billion yuan, a year-on-year increase of 49.10% [4] - Domestic films generated box office revenue of 23.666 billion yuan, marking a year-on-year growth of 57.31%, with a market share of 97.11%, up by 5.14 percentage points from the previous year [4] - The total number of moviegoers reached 520 million, reflecting a year-on-year increase of 42.86% [4] - The Spring Festival box office alone reached 9.51 billion yuan, a year-on-year increase of 18.64%, with 187 million viewers, up by 14.50% [4] Company Performance - In the first quarter of 2025, the company achieved box office revenue of 999.7 million yuan (excluding service fees), representing a year-on-year increase of 50.76%, with a total of 25.2787 million viewers, up by 47.16% [5] - The company's market share in box office revenue was 4.53%, with its directly operated cinemas generating 886 million yuan in revenue, a year-on-year increase of 55.17% and 22.5799 million viewers, up by 50.48% [5] - The company opened 5 new directly operated cinemas and added 32 new screens during the reporting period [5] - The company’s subsidiary, Zhejiang Hengdian Film Co., Ltd., released films such as "The Legend of the Condor Heroes: The Great Hero" and "Boonie Bears: Rebooting the Future" during the reporting period, and has a rich pipeline of films [5]

Group 1 - Sanan Optoelectronics received a loan commitment letter from China Industrial Bank for a repurchase loan of 1 billion yuan, valid for three years, to support stock buybacks [2] - Changying Precision reported a 23.40% increase in revenue to 16.934 billion yuan and an 800.24% increase in net profit to 772 million yuan for 2024, driven by humanoid robot projects [2] - Zhuhai Group's Q1 net profit increased by 74.07% to 277 million yuan, attributed to gains from precious metals [2] Group 2 - Qianyuan Power expects a Q1 net profit increase of 330%-365%, driven by a 62.70% increase in water inflow and a 59.40% rise in power generation [3] - Guofang Group's stock has experienced significant volatility, with a current P/E ratio of 110.1, indicating potential irrational speculation [3] - Fangyuan Co. decided to terminate a 3 billion yuan lithium carbonate production project due to market conditions and strategic changes, having already invested 97 million yuan [4] Group 3 - Baosteel plans to acquire a 49% stake in Maanshan Steel for a total consideration of 9 billion yuan, consisting of 5.139 billion yuan for equity purchase and 3.861 billion yuan for capital increase [5]

Financial Performance - The company's operating revenue for Q1 2025 reached ¥1,172,231,986.17, representing a 39.15% increase compared to ¥842,411,957.41 in the same period last year[5] - Net profit attributable to shareholders was ¥342,822,587.31, up 56.77% from ¥218,684,421.85 year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 110.35%, amounting to ¥325,638,695.65 compared to ¥154,807,845.63 in the previous year[5] - Basic and diluted earnings per share for Q1 2025 were both ¥0.54, compared to ¥0.34 in Q1 2024[25] - Total operating costs for Q1 2025 were ¥842,626,354.03, up 27.0% from ¥663,713,426.33 in Q1 2024[23] Cash Flow - The company's cash flow from operating activities was ¥456,244,172.48, a slight decrease of 0.86% from ¥460,179,278.44 in the same period last year[5] - Cash inflow from operating activities in Q1 2025 was ¥1,320,909,365.69, an increase from ¥930,949,689.49 in Q1 2024[27] - Cash paid for goods and services in Q1 2025 was ¥604,212,784.94, significantly higher than ¥233,500,418.50 in Q1 2024[27] - The net cash flow from operating activities was $456,244,172.48, slightly down from $460,179,278.44 in the previous period[28] - The total cash and cash equivalents decreased by $24,703,759.67 during the period[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,271,142,702.23, reflecting a 5.43% increase from ¥4,051,130,636.18 at the end of the previous year[6] - Total current assets as of March 31, 2025, amount to ¥1,838,934,186.84, an increase from ¥1,444,734,685.62 as of December 31, 2024[18] - Total liabilities decreased to ¥2,760,638,616.26 in the current period from ¥2,883,449,137.52 in the previous period[20] - Total equity increased to ¥1,510,504,085.97 in the current period from ¥1,167,681,498.66 in the previous period[20] - Accounts payable increased to ¥275,620,112.77 from ¥240,888,814.46, reflecting higher liabilities[19] Market Performance - The total box office revenue for the company's cinema line was ¥9.97 billion, with a market share of 4.53%, and total audience attendance of 25.28 million, up 47.16% year-on-year[10] - The Chinese film market's total box office for Q1 2025 was ¥24.386 billion, a 49.10% increase year-on-year, with domestic films accounting for 97.11% of the total box office[10] Shareholder Information - Total number of common shareholders at the end of the reporting period is 20,815[14] - The largest shareholder, Hengdian Group Holdings Co., Ltd., holds 509,600,000 shares, accounting for 80.35% of total shares[14] - The company has no significant changes in the top 10 shareholders or their shareholding status[15] Investment and Future Outlook - The company has a rich pipeline of films, including titles like "The Legend of the Condor Heroes: The Great Hero" and "Boonie Bears: Restarting the Future," which have been released during the reporting period[11] - The company reported a significant increase in investment income, totaling ¥2,203,165.98 in Q1 2025 compared to ¥41,574,805.19 in Q1 2024[24] Tax and Other Financial Metrics - Deferred income tax liabilities rose to ¥668,552.16 from ¥392,913.33 year-over-year[20] - The company reported a significant increase in cash paid for operating activities, totaling $160,745,581.38 compared to $169,630,242.77 previously[28]

Summary of Conference Call Company Overview - The company discussed is Hengdian Film and Television, which is primarily involved in cinema investment, production, distribution, and related services in the film industry [1][2] - The major shareholder is Hengdian Group, which has a significant influence in the film industry and owns several other listed companies [2] Industry Insights - The cinema industry is experiencing a high growth rate, with total box office revenue in Q1 showing an increase of nearly 50% year-on-year [3] - The company's box office revenue reached 24.387 billion yuan in Q1, compared to 16.35 billion yuan in the same period last year [3] Financial Performance - The fixed nature of costs such as rent, utilities, and labor means that increased box office revenue leads to higher profit margins [3] - The company estimates that once monthly box office revenue exceeds 3.3 billion yuan, the cinema segment will start to become profitable [3] Market Position - The company holds a market share of approximately 4% in the domestic cinema industry, which is considered relatively high [4] - The overall profitability of the cinema segment is strong, despite some films performing below expectations [4] Additional Notes - Hengdian Group's extensive involvement in the film industry includes services for film crews, a film rights trading center, and vocational training institutions, enhancing its capability to empower the listed company [2] - The company has produced several successful films, contributing to its strong market position [1]

Group 1 - Hengdian Film and Television announced a shareholder reward event from April 14 to April 23, 2025, offering free movie tickets and travel packages to eligible shareholders [2] - Shareholders holding 500 shares or more can participate, with those holding between 500 and 10,000 shares receiving 4 movie tickets, and those holding over 10,000 shares receiving 8 movie tickets and 4 tickets for a one-day tour at Hengdian Film City [2] - Eligible shareholders can purchase a membership card worth 400 yuan for a special price of 200 yuan, with each shareholder limited to one purchase [2] Group 2 - Other companies, such as ST Yigou and Quanjude, are also implementing shareholder reward programs, offering discounts and product tasting opportunities [3] - Regulatory bodies have been encouraging listed companies to enhance shareholder returns through cash dividends and share buybacks, promoting the idea of respecting and rewarding investors [3] - Physical rewards are becoming an increasingly popular choice among listed companies for shareholder appreciation, alongside cash dividends [3]

证券代码：603103 证券简称：横店影视 公告编号：2025-017 横店影视股份有限公司 关于股东回馈活动的自愿性信息披露公告 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。 为建立长效、多样的股东回报机制，感谢广大股东长期以来对横店影视股份 有限公司（以下简称"公司"）的关心和支持，同时让股东更好地了解公司和体 验公司服务，提高投资者对公司内在价值的理解与认识。公司将开展"2025 股东 回馈"活动，现将活动内容公告如下： | 持股数量区间 | | 礼包内容 | | | --- | --- | --- | --- | | 500 股（含）-10,000 | 股 | 观影券*4 张 | | | 10,000 股（含）以上 | | 观影券*8 张+横店影视城 1 | 日游景区门票 | | | | (任选 3 个景区)*4 | 份 | 一、活动时间 本次活动时间为 2025 年 4 月 14 日（星期一）至 2025 年 4 月 23 日（星期 三）。若超过 2025 年 4 月 23 日 24:00 未进行本次活动申领登记的 ...

横店影视：拟开展2025股东回馈活动 金十数据4月11日讯，横店影视公告称，为感谢股东支持，公司将开展"2025股东回馈"活动。活动时间 为2025年4月14日至4月23日，限2025年4月1日登记在册的持股500股以上的股东参与。活动内容包含免 费观影、旅游礼包及以200元专享价格购买400元会员卡权益。 ...

横店影视（603103）公告，公司将于2025年4月14日至2025年4月23日开展"2025股东回馈"活动。符合条 件的股东可免费获得观影、旅游礼包，并以200元专享价格购买公司400元会员卡权益。持股500股(含) 至10000股的股东可获得4张观影券，10000股以上的股东可获得8张观影券及横店影视城1日游景区门票 (任选3个景区)。活动结束后，礼包或会员卡将在三个工作日内发放至股东一码通账户对应手机号上。 ...

2025 年 04 月 09 日 优质内容促内需 横店具品牌优势 —横店影视（603103.SH）公司动态研究报告 买入(维持) 投资要点 分析师：朱珠 S1050521110001 zhuzhu@cfsc.com.cn | 基本数据 | 2 0 2 5-0 4-0 8 | | --- | --- | | 当前股价（元） | 13.83 | | 总市值（亿元） | 88 | | 总股本（百万股） | 634 | | 流通股本（百万股） | 634 | | 52 周价格范围（元） | 9.81-17.14 | | 日均成交额（百万元） | 81.18 | 市场表现 -40 -30 -20 -10 0 10 20 30 (%) 横店影视 沪深300 资料来源：Wind，华鑫证券研究 相关研究 1、《横店影视（603103）：2024 年 业绩承压落地看 2025 年内容新供 给》2025-01-18 2、《横店影视（603103）：2024 年 跨越低谷新增可期内容需求韧性持 续》2024-03-08 3、《横店影视（603103）：2023Q4 承压落地 2024 年跨越低谷新增可 期》2024-01-29 预 ...

证券代码：603103 证券简称：横店影视 公告编号：2025-016 横店影视股份有限公司 2024 年年度股东大会决议公告 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 | 1、出席会议的股东和代理人人数 | 194 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 564,797,310 | | 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 | 89.0566 | | 份总数的比例（%） | | (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。 本次会议由公司董事会召集，由公司董事长张义兵先生主持，本次会议以现 (一) 股东大会召开的时间：2025 年 4 月 8 日 (二) 股东大会召开的地点：浙江省东阳市横店镇横店影视产业实验区横店影 视大楼三楼会议室 (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： 场投票和网络投票相结合的方式召开，会议的召集、召开符合 ...