Core Viewpoint - The stock of Zhangyue Technology has experienced fluctuations, with a recent decline of 2.01%, reflecting a total market value of 9.22 billion yuan and a trading volume of 161 million yuan [1] Financial Performance - For the period from January to September 2025, Zhangyue Technology reported a revenue of 2.462 billion yuan, representing a year-on-year growth of 28.68%. However, the net profit attributable to shareholders was -217 million yuan, a significant decrease of 488.26% compared to the previous year [2] Shareholder Information - As of September 30, 2025, the number of shareholders for Zhangyue Technology was 56,500, a decrease of 10.44% from the previous period. The average number of circulating shares per person increased by 11.66% to 7,771 shares [2] Dividend Distribution - Since its A-share listing, Zhangyue Technology has distributed a total of 302 million yuan in dividends, with 123 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which increased its holdings by 2.1304 million shares to 11.2868 million shares. New entrants among the top shareholders included several ETFs [3]

Core Insights - The digital media sector experienced a significant increase of 2.92% on November 18, with "值得买" leading the gains [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - "值得买" (Code: 300785) closed at 46.32, up 14.40% with a trading volume of 627,100 shares and a transaction value of 284.2 million [1] - "视觉中国" (Code: 000681) closed at 23.66, up 10.00% with a trading volume of 1,147,600 shares and a transaction value of 264.6 million [1] - "凡拓教创" (Code: 301313) closed at 32.12, up 7.39% with a trading volume of 119,300 shares and a transaction value of 376 million [1] - Other notable stocks include "国脉文化" (Code: 600640) up 2.88%, "掌阅科技" (Code: 603533) up 2.78%, and "新华网" (Code: 603888) up 2.28% [1] Capital Flow - The digital media sector saw a net inflow of 819 million from institutional investors, while retail investors experienced a net outflow of 461 million [2] - The main capital inflow was concentrated in "视觉中国" with a net inflow of 482 million, while "值得买" saw a net outflow of 150 million from retail investors [3]

Core Insights - The stock price of Zhangyue Technology increased by 2.01% on November 18, reaching 21.28 CNY per share, with a total market capitalization of 9.34 billion CNY [1] - The company reported a revenue of 2.462 billion CNY for the first nine months of 2025, marking a year-on-year growth of 28.68%, while the net profit attributable to shareholders was -217 million CNY, a decrease of 488.26% [2] - The company has distributed a total of 302 million CNY in dividends since its A-share listing, with 123 million CNY distributed over the past three years [3] Stock Performance - Year-to-date, the stock price has increased by 5.29%, with a recent decline of 0.88% over the last five trading days, a 14.53% increase over the last 20 days, and a 0.42% increase over the last 60 days [1] - As of September 30, 2025, the number of shareholders decreased by 10.44% to 56,500, while the average number of circulating shares per person increased by 11.66% to 7,771 shares [2] Business Overview - Zhangyue Technology, established on September 8, 2008, and listed on September 21, 2017, primarily operates in the internet digital reading platform services, with revenue composition as follows: 63.75% from digital reading platforms, 30.02% from derivative businesses, 6.12% from copyright products, and 0.12% from other sources [1] - The company is categorized under the media industry, specifically in digital media and text media sectors, and is associated with concepts such as small-cap stocks, intellectual property, paid knowledge, AI corpus, and Kimi concept [1] Shareholder Information - As of September 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 2.1304 million shares to 11.2868 million shares, and several new shareholders such as Jin Ying Technology Innovation Stock A and Hua Xia Zhong Zheng 1000 ETF [3]

Core Viewpoint - The announcement from Zhangyue Technology regarding the share reduction plan by Quantum Leap indicates a strategic shift in shareholder structure, with a minor reduction in total shares held by Quantum Leap, which may impact investor sentiment and market perception of the company [1] Group 1: Share Reduction Plan - Quantum Leap has completed its share reduction plan, selling 1.1 million shares, which represents 0.25% of Zhangyue Technology's total share capital [1] Group 2: Revenue Composition - For the year 2024, Zhangyue Technology's revenue composition is as follows: digital reading accounts for 63.75%, derivative businesses for 30.02%, copyright products for 6.12%, and other sources for 0.12% [1] Group 3: Market Capitalization - As of the announcement, Zhangyue Technology's market capitalization stands at 9.2 billion yuan [1]

证券代码：603533 证券简称：掌阅科技 公告编号：2025-050 掌阅科技股份有限公司 股东集中竞价减持股份结果公告 本公司董事会、全体董事及相关股东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： 股东持股的基本情况 本次减持计划实施前，公司股东北京量子跃动科技有限公司（以下简称"量 子跃动"）持有掌阅科技股份有限公司（以下简称"公司"）27,357,246 股，占公 司股本总数的 6.23%。上述股份均为协议转让取得。截至本公告披露日，量子跃 动持有公司股份 26,257,246 股，占公司总股本的 5.98%。 股东名称 北京量子跃动科技有限公司 股东身份 控股股东、实控人及一致行动人 □是 □否 直接持股 5%以上股东 √是 □否 董事、监事和高级管理人员 □是 □否 其他： 持股数量 27,357,246股 持股比例 6.23% 当前持股股份来源 协议转让取得：27,357,246股 上述减持主体无一致行动人。 二、减持计划的实施结果 (一)股东因以下事项披露减持计划实施结果： 披露的减持时间区间届满 | 股东名称 | ...

格隆汇11月17日丨掌阅科技(603533.SH)公布,2025年11月17日，公司收到了量子跃动发来的《关于股份 减持计划实施结果的告知函》，量子跃动减持计划实施时间届满，减持期间内，量子跃动以集中竞价方 式减持110万股，占公司总股本的0.25%。 ...

北京市中伦律师事务所 关于掌阅科技股份有限公司 2025 年第三次临时股东会的 法律意见书 一、本次股东会的召集和召开程序 为召开本次股东会，公司董事会于 2025 年 10 月 31 日在规定的信息披露媒 体上公告了《关于召开 2025 年第三次临时股东会的通知》（下称"会议通 知"）。上述会议通知载明了会议的召开方式、召开时间和召开地点，对会议议 题进行了披露，说明了股东有权出席并可委托代理人出席和行使表决权，明确 了会议的登记方法、有权出席会议股东的股权登记日、会议联系人姓名和电话 号码，符合《股东会规则》和《公司章程》的要求。 本次会议采用现场投票和网络投票相结合的方式进行。本次会议于 2025 年 11 月 17 日下午 14:30 在北京市朝阳区四惠东四惠大厦公司会议室如期召开。公 司股东通过上海证券交易所股东会网络投票系统进行网络投票的时间为 2025 年 1 二〇二五年十一月 北京市中伦律师事务所 关于掌阅科技股份有限公司 2025 年第三次临时股东会的 法律意见书 致：掌阅科技股份有限公司 根据《中华人民共和国公司法》（下称"《公司法》"）、《上市公司股东会规 则》（下称"《股东会规则》"） ...

证券代码：603533 证券简称：掌阅科技 公告编号：2025-051 掌阅科技股份有限公司 2025年第三次临时股东会决议公告 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。 （一）股东会召开的时间：2025 年 11 月 17 日 （二）股东会召开的地点：中国北京市朝阳区四惠东四惠大厦公司会议室 （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 | 377 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 208,984,865 | | 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 | 47.6159 | | 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，股东会主持情 况等。 本次股东会是由公司董事会召集，董事长成湘均先生主持，会议以现场投票 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》 及《公司章程》的规定。 （五） 公司董事和董事会秘书的出席情况 重要内容 ...

格隆汇11月17日丨掌阅科技(603533.SH)公布,2025年11月17日，公司收到了量子跃动发来的《关于股份 减持计划实施结果的告知函》，量子跃动减持计划实施时间届满，减持期间内，量子跃动以集中竞价方 式减持110万股，占公司总股本的0.25%。 ...

Core Viewpoint - Zhangyue Technology's stock price has shown fluctuations, with a recent increase of 2.20% and a total market capitalization of 9.195 billion yuan, despite a year-to-date increase of only 3.66% [1] Financial Performance - For the period from January to September 2025, Zhangyue Technology achieved operating revenue of 2.462 billion yuan, representing a year-on-year growth of 28.68%. However, the net profit attributable to shareholders was -217 million yuan, a significant decrease of 488.26% compared to the previous year [2] Shareholder Information - As of September 30, 2025, the number of shareholders for Zhangyue Technology was 56,500, a decrease of 10.44% from the previous period. The average number of circulating shares per person increased by 11.66% to 7,771 shares [2] Dividend Distribution - Since its A-share listing, Zhangyue Technology has distributed a total of 302 million yuan in dividends, with 123 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 11.2868 million shares, an increase of 2.1304 million shares from the previous period. New institutional shareholders include Jin Ying Technology Innovation Stock A and Hua Xia CSI 1000 ETF, among others [3]