Core Viewpoint - The company, Zhongguang Tianze Media Co., Ltd., is under regulatory scrutiny due to its performance forecast and potential delisting risks, with a significant focus on its revenue recognition practices and financial performance in 2025 [2][18]. Financial Performance - The company reported an estimated revenue of approximately 142 million to 157 million yuan for Q4 2025, representing a year-on-year growth of over 60%, contributing to more than 40% of the annual revenue [2][3]. - For the full year 2025, the company achieved total revenue of 342.13 million yuan, with main business revenue of 335.98 million yuan, and other business revenue of 6.15 million yuan [13][14]. Revenue Breakdown - The revenue growth in 2025 was driven by various segments, including cultural and sports operations, film and television investment, and digital copyright protection, with Q4 showing a significant increase of 78.34% year-on-year [4][6]. - The cultural and sports operations segment generated 48.13 million yuan in revenue for the year, with Q4 contributing 33.50 million yuan, accounting for 69.59% of the annual revenue in this category [4][7]. Client and Project Analysis - The top ten projects in Q4 were primarily with state-owned enterprises and government agencies, indicating a strong client base with low default risk [5][6]. - The company’s major clients accounted for 49.92% of total revenue, with significant contributions from projects like the 2025 Changsha Marathon and various cultural events [10][12]. Cost and Profitability - The company achieved a gross margin of 23.86% for the year, with Q4 gross margin reaching 36.05%, significantly higher than the annual average, attributed to increased project execution efficiency and cost management [20][23]. - The company implemented cost control measures, including optimizing personnel allocation and enhancing asset utilization, contributing to a turnaround from a loss in previous quarters to profitability in Q4 2025 [18][25][26]. Accounts Receivable and Cash Flow - The accounts receivable for Q4 amounted to 163.65 million yuan, with a collection rate of 106.71%, indicating effective cash flow management [27][28]. - The net cash flow from operating activities in Q4 was 102.25 million yuan, reflecting a strong correlation between net profit growth and cash flow improvement [35]. Regulatory Compliance and Audit - The company is undergoing an audit to ensure compliance with revenue recognition standards and to verify the accuracy of financial reporting, with no discrepancies found so far [39]. - The audit will focus on revenue recognition policies, cost management, and the sustainability of income sources, particularly from the newly acquired Changsha Sports Industry Company [39][41].

证券代码：603721 证券简称：*ST 天择 公告编号：2026-009 中广天择传媒股份有限公司 关于公司股票可能被终止上市的第三次风险提示公告 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： 中广天择传媒股份有限公司（以下简称"公司"）于 2025 年 4 月 30 日披 露了《中广天择传媒股份有限公司关于公司股票被实施退市风险警示暨停牌的公 告》（公告编号：2025-004）。因公司 2024 年度经审计的利润总额、净利润、扣除 非经常性损益后的净利润孰低者为负，且扣除与主营业务无关的业务收入和不具 备商业实质的收入后的营业收入低于 3 亿元，公司股票于 2025 年 5 月 6 日起被实 施退市风险警示。若公司2025年年报出现《上海证券交易所股票上市规则》第9.3.7 条规定的情形，公司股票可能被上海证券交易所终止上市，敬请广大投资者注意 投资风险。 2026 年 1 月 17 日，公司披露了《中广天择传媒股份有限公司关于公司股 票可能被终止上市的风险提示公告》（公告编号：2026-006）。202 ...

证券代码：603721 证券简称：*ST 天择 公告编号：2026-008 中广天择传媒股份有限公司关于上海证券交易所对 公司业绩预告事项监管工作函的回复公告 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： 中广天择传媒股份有限公司（以下简称"公司"）于 2025 年 4 月 30 日披 露了《中广天择传媒股份有限公司关于公司股票被实施退市风险警示暨停牌的公 告》（公告编号：2025-004）。因公司 2024 年度经审计的利润总额、净利润、扣 除非经常性损益后的净利润孰低者为负，且扣除与主营业务无关的业务收入和不 具备商业实质的收入后的营业收入低于 3 亿元，公司股票于 2025 年 5 月 6 日起被 实施退市风险警示。若公司 2025 年年报出现《上海证券交易所股票上市规则》第 9.3.7 条规定的情形，公司股票可能被上海证券交易所终止上市，敬请广大投资者 注意投资风险。 中广天择传媒股份有限公司（以下简称"公司"或"中广天择"）近期收到 上海证券交易所《关于中广天择传媒股份有限公司业绩预告的监管工作函》 ...

1、1万亿周五落地！买断式逆回购密集加量，短期降准可能性下降？ 重要程度：★★★★★ 2月12日，央行公告称，为保持银行体系流动性充裕，将于13日以固定数量、利率招标、多重价位中标方式 开展10000亿元买断式逆回购操作，期限为6个月(182天)。东方金诚分析师认为，央行通过买断式逆回购向 银行体系注入中期流动性，能够引导节前资金面处于较为稳定的充裕状态。 招联首席经济学家、上海金融与发展实验室副主任董希淼认为，大规模流动性投放降低了短期内尤其是春 节前实施全面降准的紧迫性和可能性。在通过多种货币政策工具加大流动性投放后，先观察效果，暂时避 免使用全面降准这样的总量工具，符合当前政策思路。但这并不意味着全面降准窗口关闭，降准仍是央行 工具箱中的重要选项。 2、深圳印发"人工智能+"先进制造业行动计划 重要程度：★★★★ 深圳市工业和信息化局近日印发《深圳市"人工智能+"先进制造业行动计划(2026—2027年)》，其中提出， 推动人工智能技术应用于半导体产业链的关键环节，利用AI优化芯片设计、软件代码等领域和环节的效 率。以AI芯片为突破口做强半导体产业，面向AI手机、AI眼镜、智能机器人等各类AI终端需求， ...

Core Viewpoint - The company ST Tianze (603721) is expected to turn profitable in 2025, with a projected net profit of between 27 million to 30 million yuan and operating revenue of 330 million to 345 million yuan [1][2]. Financial Performance - The company anticipates achieving a net profit of 27 million to 30 million yuan for 2025, with operating revenue estimated between 330 million to 345 million yuan. The final figures will be confirmed in the official annual report expected to be released in early 2026 [2]. Recent Events - The auditing firm Zhongchao Zhonghuan Accounting Firm has indicated that the risk warning related to financial delisting indicators is expected to be lifted. If the 2025 annual report confirms that the relevant indicators are met, the company plans to apply for the removal of the delisting risk warning [3]. Company Status - On December 31, 2025, the company held a board meeting to review the appointment of the board secretary and other proposals, with attention needed on the implementation of related personnel changes [4].

声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 根据喜娜AI异动分析，*ST天择涨停原因可能如下，视频运营+年报预期+监管函回复： 1、公司主要从 事视频内容投制运营、新媒体运营等多领域业务。随着数字内容产业的不断发展，市场对优质视频内容 和新媒体服务的需求持续增加，公司业务布局契合行业发展趋势，为股价上涨提供了基本面支撑。 2、 公司将于2026年4月18日发布年报，市场对公司年报业绩存在一定预期。良好的业绩预期往往会吸引投 资者关注，推动股价上升。 3、公司正在组织回复业绩预告监管工作函，若能妥善回复并消除监管疑 虑，将有助于提升市场对公司的信心。同花顺数据显示，2月10日文化传媒板块部分个股同步上涨，形 成一定的板块联动效应，资金流向文化传媒 ...

Group 1 - The A-share film industry stocks experienced a collective surge, with Hengdian Film reaching the daily limit, and other companies like Happiness Blue Sea, Light Media, Bona Film, and others also showing significant gains [1] - Seven films have been scheduled for release during the Spring Festival, with six of them set to premiere on the first day of the new year [1] Group 2 - Hengdian Film saw a price increase of 10.01%, with a total market capitalization of 20.1 billion and a year-to-date increase of 90.95% [2] - Happiness Blue Sea increased by 7.87%, with a market cap of 8.943 billion and a year-to-date increase of 15.44% [2] - Light Media rose by 6.43%, with a market cap of 59.7 billion and a year-to-date increase of 24.24% [2] - Bona Film increased by 4.34%, with a market cap of 13.6 billion and a year-to-date increase of 29.74% [2] - Other companies like Jinyi Film, Huazhi Digital Media, and Huayi Brothers also reported gains of over 3% [1][2]

Group 1 - The film and cinema sector saw a significant increase of 3.28% on January 30, with Hengdian Film leading the gains [1] - The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1] - Key stocks in the film and cinema sector showed notable price increases, with Hengdian Film rising by 10.01% to a closing price of 25.50 [1] Group 2 - The film and cinema sector experienced a net inflow of 542 million yuan from institutional investors, while retail investors saw a net outflow of 768 million yuan [2] - Major stocks such as China Film and Wanda Film attracted significant net inflows from institutional investors, with China Film receiving 206 million yuan [3] - Retail investors showed a negative trend in several stocks, with significant outflows from Happiness Blue Sea and Huayi Brothers [3]

中广天择传媒股份有限公司 关于公司股票可能被终止上市的第二次风险提示公告 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： 中广天择传媒股份有限公司（以下简称"公司"）于 2025 年 4 月 30 日披 露了《中广天择传媒股份有限公司关于公司股票被实施退市风险警示暨停牌的公 告》（公告编号：2025-004）。因公司 2024 年度经审计的利润总额、净利润、扣除 非经常性损益后的净利润孰低者为负，且扣除与主营业务无关的业务收入和不具 备商业实质的收入后的营业收入低于 3 亿元，公司股票于 2025 年 5 月 6 日起被实 施退市风险警示。若公司2025年年报出现《上海证券交易所股票上市规则》第9.3.7 条规定的情形，公司股票可能被上海证券交易所终止上市，敬请广大投资者注意 投资风险。 2026 年 1 月 17 日，公司披露了《中广天择传媒股份有限公司关于公司股 票可能被终止上市的风险提示公告》（公告编号：2026-006）。根据《上海证券交 易所上市公司自律监管指南第 2 号——业务办理》第十三号——退市 ...

格隆汇1月28日丨*ST天择(603721.SH)在投资者互动平台表示，公司暂不涉及商业航天相关业务。 ...