关于中广天择传媒股份有限公司 2025年度因财务类指标涉及退市风险警示 有关情形消除预审计情况的专项说明 众环专字(2026)1100031号 1 关于中广天择传媒股份有限公司 2025 年度因财务类指标涉及退市风险警示 有关情形消除预审计情况的专项说明 众环专字（2026）1100031 号 中广天择传媒股份有限公司全体股东： 我们接受委托，对中广天择传媒股份有限公司（以下简称"中广天择"）2025 年度财务 报表进行审计。截至本专项说明出具之日止，我们的审计工作尚在进行中，最终的审计意见 尚未形成。 根据《上海证券交易所上市公司自律监管指南第 1 号——公告格式》的相关规定，中广 天择编制了 2025 年度业绩预告。编制和对外披露业绩预告，并确保其真实性、准确性和完 整性是中广天择管理层的责任。 中广天择因 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 元而被实施退市风险警示。根据中广天择作出的 2025 年的业绩预告，预计 2025 年度利润总 额、净利润、扣除非经常性损益后的净利润孰低者实现扭 ...

证券代码：603721 证券简称：*ST 天择 公告编号：2026-005 中广天择传媒股份有限公司 2025 年年度业绩预告 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。 重要内容提示： 业绩预告的具体适用情形：净利润实现扭亏为盈。公司因 2024 年度经审 计的扣除非经常性损益前后的净利润均为负值，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 日已被实施退市风险警示。敬请广大投资者注意投资风险。 截至目前，公司审计工作尚在进行中，最终的审计意见尚未形成。若公 司出现 2025 年度经审计的利润总额、净利润或者扣除非经常性损益后的净利润 孰低者为负值且营业收入低于 3 亿元的情形，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。 业绩预告相关的主要财务数据情况：经财务部门初步测算，预计 2025 年年度实现利润总额 2,800 万元到 3,200 万元，预计 2025 年年度归属于母公司 所有者的净利润为 2,700 万元到 ...

Group 1 - The core viewpoint of the article is that *ST Tianze (603721.SH) is expected to turn a profit in 2025, with projected total profits ranging from 28 million to 32 million yuan and net profits attributable to shareholders between 27 million and 30 million yuan, indicating a significant improvement compared to the previous year [1][2] - The expected operating revenue for 2025 is projected to be between 330 million and 345 million yuan, with core business revenue estimated at 320 million to 335 million yuan, reflecting a focus on main business operations [1][2] - By the end of 2025, the company's net assets are anticipated to be between 498 million and 508 million yuan, showcasing a solid financial position [1] Group 2 - The primary reasons for the expected performance increase include the company's continued focus on core businesses such as documentaries and cultural tourism, which provide stable revenue support through ongoing collaboration with existing clients [2] - The company has actively expanded into new business areas, particularly in sports event operations, which have shown significant growth this year, contributing to overall revenue expansion [2] - Cost and expense management strategies have been implemented, including optimizing personnel allocation and improving asset utilization, which have collectively enhanced the company's profitability [2]

Market Performance - The film and cinema sector increased by 1.01% compared to the previous trading day, with Bona Film Group leading the gains [1] - The Shanghai Composite Index closed at 4126.09, down 0.31%, while the Shenzhen Component Index closed at 14248.6, up 0.56% [1] Individual Stock Performance - Bona Film Group (001330) closed at 9.62, up 5.60%, with a trading volume of 2.91 million shares and a transaction value of 2.719 billion [1] - Huanrui Century (000892) closed at 9.01, up 4.65%, with a trading volume of 1.74 million shares and a transaction value of 1.584 billion [1] - Other notable performers include: - China Vision Media (600088) at 18.52, up 3.18% [1] - Shanghai Film (601595) at 32.85, up 3.07% [1] - Zhengwen Media (002343) at 8.16, up 2.90% [1] Capital Flow Analysis - The film and cinema sector experienced a net outflow of 530 million from institutional investors, while retail investors saw a net inflow of 881 million [2] - The main capital flow for individual stocks shows: - Huanrui Century had a net inflow of 150 million from main investors [3] - Shanghai Film had a net inflow of approximately 28.69 million [3] - Light Media (300251) had a net inflow of about 19.82 million [3] Summary of Stock Flows - The overall trend indicates that while institutional and speculative funds are withdrawing, retail investors are actively buying into the sector [2][3] - Notable stocks with significant retail inflows include: - Huanrui Century with a retail net inflow of 10 million [3] - ST Tianze (603721) with a retail net inflow of 188.16 million [3]

Core Insights - The report emphasizes that in 2026, the media internet sector will undergo a dual reconstruction driven by the transition from AI as a "technical infrastructure" to "application deep water zone," focusing on entry form migration, distribution rule repricing, and supply-side capacity explosion [1][11] - AI Agents are set to replace traditional apps as the new super entry point, shifting the traffic distribution logic from "time capture" to "efficient execution" [1][12] - AIGC (AI-Generated Content) is expected to lead to a significant increase in content production capacity, with zero marginal cost production becoming a reality, thus redefining the value of quality data and IP [1][11] Group 1: AI Agents and Traffic Distribution - AI Agents signify a generational leap in human-computer interaction, evolving from GUI to IUI, fundamentally changing the traffic distribution logic [1][12] - The traditional "click-jump" model is being replaced by a "dialogue-execute" paradigm, where AI Agents understand user intent and execute tasks across applications [1][12] - The emergence of AI Agents is expected to create a new operational layer that could potentially replace single apps as the primary distribution entry point [1][12][19] Group 2: AIGC and Content Supply - AIGC is anticipated to transition from a phase of "cost reduction and efficiency enhancement" to a "new demand creation" explosion by 2026, significantly increasing content supply [1][41] - The production barriers for video, 3D, and gaming assets are expected to lower drastically, leading to a surge in content supply and a devaluation of mediocre content [1][41] - Content consumption is evolving from passive viewing to active engagement, with new formats like "generative interactive dramas" and "AI companion games" emerging [1][43] Group 3: Investment Recommendations - The investment strategy in the media internet sector is shifting towards high-quality assets in both traffic distribution and content supply, focusing on companies that can effectively capture user intent and provide quality content [1][41] - Companies with operational system bases or super Agent platforms are likely to gain new traffic distribution rights and bargaining power, while mid-tier apps lacking exclusive content may face risks of being "pipelined" [1][19] - Key players in the AI Agent space include Alibaba, Tencent, and ByteDance, which are actively developing their AI capabilities to secure new traffic entry points [1][25][40]

Group 1 - The film and cinema sector increased by 1.52% on January 8, with Huazhi Shumedia leading the gains [1] - The Shanghai Composite Index closed at 4082.98, down 0.07%, while the Shenzhen Component Index closed at 13959.48, down 0.51% [1] - Key stocks in the film and cinema sector showed various performance metrics, with Huazhi Shumedia closing at 8.39, up 6.34%, and Huayi Brothers at 2.23, up 2.29% [1] Group 2 - The net capital flow in the film and cinema sector showed a net outflow of 74.57 million yuan from institutional investors and 141 million yuan from retail investors, while retail investors had a net inflow of 216 million yuan [1] - Detailed capital flow data indicates that Huayi Century had a net inflow of 60.86 million yuan from institutional investors, while it experienced a net outflow of 44.87 million yuan from retail investors [2] - Other notable stocks included Wanda Film with a net inflow of 6.64 million yuan from retail investors despite a net outflow from institutional and speculative investors [2]

证券代码：603721 证券简称：*ST 天择 公告编号：2026-003 中广天择传媒股份有限公司 第五届董事会第一次会议决议公告 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 中广天择传媒股份有限公司（以下简称"公司"）第五届董事会第一次会议 于 2025 年 12 月 31 日下午在公司会议室以现场形式召开并表决。会议通知已于 2025 年 12 月 31 日当日通知各位董事，全体董事一致同意豁免本次会议通知期 限。本次会议应参与表决的董事 8 名，实际参与表决的董事 8 名。本次会议全体 董事现场共同推举董事彭勇先生为本次会议的主持人，公司全体董事均出席了本 次会议。本次会议的召集、召开及表决程序符合《中华人民共和国公司法》及《公 司章程》的有关规定。 二、董事会会议审议情况 全体董事经认真讨论，一致审议并通过了如下事项： （一）审议通过《关于选举公司董事长的议案》 同意选举彭勇先生为公司第五届董事会董事长，任期三年，自本次董事会决 议通过之日起至第五届董事会任期届满之日止。 表决结果： ...

中广天择传媒股份有限公司 第五届董事会第一次会议-决议 中广天择传媒股份有限公司 第五届董事会第一次会议决议 根据《中华人民共和国公司法》、《中广天择传媒股份有限公司章程》的有 关规定，中广天择传媒股份有限公司（以下简称"公司"）第五届董事会第一次 会议于 2025 年 12 月 31 日（星期三）在公司 V9 会议室以现场方式召开。会议通 知已于 2025 年 12 月 31 日当日通知各位董事，全体董事一致同意豁免本次会议 通知期限。本次会议应参加表决董事 8 名，实际参加表决董事 8 名。 全体董事现场共同推举董事彭勇先生为本次会议的主持人，公司部分高管 列席。会议召开符合有关法律、法规、规章和《公司章程》的规定。经各位董事 认真审议，会议形成了如下决议： 一、审议通过《关于选举公司董事长的议案》 董事彭勇先生以 8 票当选公司第五届董事会董事长，任期与本届董事会任期 一致。 二、审议通过《关于选举公司副董事长的议案》 董事蒋娜女士以 8 票当选公司第五届董事会副董事长，任期与本届董事会任 期一致。 三、审议通过《关于选举董事会战略委员会委员的议案》 同意选举彭勇先生、蒋娜女士和胡小卓先生三位董事为董事 ...

证券代码：603721 证券简称：*ST 天择 公告编号：2026-004 中广天择传媒股份有限公司 关于董事会完成换届选举暨聘任高级管理人员及证券 事务代表的公告 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个别及连带责任。 中广天择传媒股份有限公司（以下简称"公司"）于 2025 年 12 月 31 日召 开 2025 年第三次临时股东会，会议选举产生了公司第五届董事会。同日，公司 召开了第五届董事会第一次会议，审议通过了关于选举公司董事长、副董事长、 董事会专门委员会委员，聘任高级管理人员、证券事务代表等相关议案。现将具 体情况公告如下： 一、公司第五届董事会组成情况 根据公司 2025 年第三次临时股东会及第五届董事会第一次会议选举结果， 公司第五届董事会共由 8 名董事组成，其中独立董事 3 名，非独立董事 4 名，职 工代表董事 1 名。公司第五届董事会下设战略委员会、提名委员会、审计委员会、 薪酬与绩效委员会、节目编委会共 5 个专门委员会。具体名单如下： 1.董事长：彭勇先生 2.副董事长：蒋娜女士 3.董事会成员：彭 ...

证券代码：603721 证券简称：*ST 天择 公告编号：2026-002 邹柳女士，1982 年 5 月出生，中国国籍，无境外永久居留权，毕业于湘潭 大学汉语言文学专业，本科学历。2003 年至 2012 年曾历任长沙电视台政法频道 出镜记者、《夜线》栏目责任编辑、《新柒天》栏目制片人、主持人；2013 年 1 月至 2023 年曾任中广天择制片部经理、行政部经理；2023 年至 2025 年 7 月任 公司工会主席、副总编辑、行政部经理；2025 年 8 月至今任公司工会主席、副 总编辑、综合运营部经理。 根据《中华人民共和国公司法》《公司章程》等相关规定，中广天择传媒股 份有限公司（以下简称"公司"）于 2025 年 12 月 31 日召开职工代表大会，参会 职工代表以无记名投票的方式表决，形成如下决议：同意选举邹柳女士为公司第 五届董事会职工董事（简历附后），与公司现任非职工董事共同组成公司第五届 董事会，其任期自本次职工代表大会决议通过之日起至第五届董事会任期届满之 日止。邹柳女士任职资格符合相关法律法规、规范性文件和《公司章程》的有关 规定。 本次选举职工董事工作完成后，公司第五届董事会中兼任公司 ...