Core Viewpoint - The trend in the television industry indicates that listed companies are shifting from a "main investment and control" role to a model that emphasizes external project investment, often utilizing a "funding" approach to mitigate risks associated with project development [1][4]. Group 1: Industry Trends - The phenomenon of listed companies reducing their project development and focusing on external investments can be traced back to 2020, with a notable increase in such projects starting from 2023 [2]. - Companies like Ciwen Media are increasingly participating in projects as co-producers or investors rather than as primary producers, especially for projects starting in 2025 [2][4]. - The rise of the "funding" model is linked to the shift from copyright dramas to customized dramas, which are becoming the focal point for development in the industry [4][14]. Group 2: Financial Implications - The funding model allows companies to enhance their liquidity and financial security while still obtaining the title of "co-producer" [4]. - Companies are experiencing a significant increase in asset turnover rates, with examples like Zhongguang Tianze showing a rise from 0.49 in 2024 to 0.65 in 2025 H1 [11]. - The financial performance of companies like Zhongguang Tianze has improved, with reported investment income from "capital-preserving" film and television projects reaching 980,000 yuan in 2024 and 1.94 million yuan in the first half of 2025 [10]. Group 3: Project Development Models - The development of television dramas is categorized into three models: copyright dramas, self-produced dramas, and customized dramas, with the latter gaining prominence [4][5]. - The funding model operates by securing a customized contract, allowing the main team to negotiate funding with external investors after project approval [5][6]. - The typical funding share ranges from 20% to 40%, with the first phase of settlement usually paying 50% of the agreed price, allowing external funds to gradually exit [6][9]. Group 4: Market Dynamics - The decline in the share of copyright dramas has led to a concentration of resources among a few major productions, pushing smaller companies to adopt safer customized drama strategies [18]. - The profit margins for customized dramas are significantly lower, ranging from 10% to 15%, compared to 30% to 50% for copyright dramas, leading to a withdrawal of purely financial investors from the market [18][24]. - The industry is collectively seeking stability and certainty, with companies prioritizing risk control and maintaining influence through funding investments [24].

Core Points - The company held its second extraordinary general meeting of shareholders on November 17, 2025, with no resolutions being rejected [2] - All proposals presented at the meeting were approved, including the cancellation of the supervisory board and amendments to various internal regulations [4][5][6] - The election of a new employee director, Zou Liu, was successfully conducted, ensuring compliance with legal and regulatory requirements [7][8] Meeting Details - The meeting took place at the company's office in Changsha, Hunan Province, and was chaired by the company's chairman, Peng Yong [2] - The voting method combined on-site and online participation, adhering to relevant laws and regulations [2][3] Attendance - All seven current directors attended the meeting, along with three supervisors and the board secretary [3] - Legal representatives from Beijing Guofeng (Shenzhen) Law Firm witnessed the meeting, confirming its legality and validity [6] Resolutions Passed - Key resolutions included the cancellation of the supervisory board and amendments to the company's articles of association and various management rules [4][5][6] - The first resolution, which was a special resolution, required a two-thirds majority to pass, which was achieved [6] Employee Director Election - Zou Liu was elected as the employee director for the fourth board of directors, with her term starting immediately and lasting until the board's term ends [7][8] - The composition of the board remains compliant with regulations, ensuring that employee representatives do not exceed half of the total board members [8] Background of New Director - Zou Liu has a background in journalism and management within the company, having held various positions since 2003 [9]

证券代码：603721 证券简称：*ST 天择 公告编号：2025-035 本次选举职工董事工作完成后，公司第四届董事会中兼任公司高级管理人员 职务的董事以及由职工代表担任的董事，总计未超过公司董事总数的二分之一， 符合有关法律法规、规范性文件及《公司章程》的规定。 特此公告。 中广天择传媒股份有限公司 2025 年 11 月 18 日 附件：职工董事邹柳简历 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。 中广天择传媒股份有限公司 关于选举职工董事的公告 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。 根据《公司法》《公司章程》等相关规定， ...

深圳市福田区中心五路 18 号星河中心大厦 19 层 电话：0755-23993388 传真：0755-86186205 邮编：518048 北京国枫（深圳）律师事务所 国枫律股字[2025]C0134 号 致：中广天择传媒股份有限公司（贵公司） 北京国枫（深圳）律师事务所（以下简称"本所"）接受贵公司的委托，指派律师 出席并见证贵公司 2025 年第二次临时股东会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共 和国证券法》（以下简称《证券法》）、《上市公司股东会规则》（以下简称《股东会 规则》）、《律师事务所从事证券法律业务管理办法》（以下简称《证券法律业务管理 办法》）、《律师事务所证券法律业务执业规则（试行）》（以下简称《证券法律业务 执业规则》）等相关法律、行政法规、规章、规范性文件及《中广天择传媒股份有限公 司章程》（以下简称《公司章程》）的规定，就本次会议的召集与召开程序、召集人资 格、出席会议人员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集与召开程序、召集 ...

证券代码：603721 证券简称：*ST 天择 公告编号：2025-034 中广天择传媒股份有限公司 2025年第二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。 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 11 月 17 日 (二) 股东会召开的地点：长沙市开福区月湖街道鸭子铺路 46 号中广天择 4 楼 V9 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、 公司在任董事7人，出席7人，独立董事唐红、黄昇民通讯参会； 2、 公司在任监事3人，出席3人； 3、 董事会秘书周智先生出席会议；公司部分高级管理人员、见证律师 列席本次会议。 二、 议案审议情况 | 1、出席会议的股东和代理人人数 | 89 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） 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 份总数的比例（%） | 68,459,865 52.6614 | ( ...

Group 1 - The film and theater sector saw a rise of 0.89% on November 17, with Shanghai Film leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] - Key stocks in the film and theater sector showed various performance metrics, with Shanghai Film closing at 30.27, up 3.84% [1] Group 2 - The main capital flow in the film and theater sector indicated a net outflow of 6.698 million yuan from institutional investors, while retail investors saw a net inflow of 20.1 million yuan [3][4] - Shanghai Film had a net inflow of 47.1935 million yuan from institutional investors, despite a net outflow from retail investors [4] - The overall trading volume and turnover for key stocks in the sector were significant, with Shanghai Film achieving a turnover of 302 million yuan [1][4]

Core Points - The Shanghai Composite Index is at 4017.68 points, above the six-month moving average, with a slight decline of 0.29% [1] - A total trading volume of A-shares reached 15648.48 billion yuan today [1] - 113 A-shares have surpassed the six-month moving average, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - The top three stocks with the highest deviation rates from the six-month moving average are: - Electric Investment and Financing (9.07%) - Jie Rong Technology (7.54%) - Annie Shares (4.91%) [1] - Other stocks with smaller deviation rates that have just crossed the six-month line include: - Baoland, Zhongnong Lihua, and Subote [1] Trading Data - The trading performance of selected stocks includes: - Electric Investment and Financing: +9.94% with a turnover rate of 2.09% - Jie Rong Technology: +10.00% with a turnover rate of 8.20% - Annie Shares: +6.44% with a turnover rate of 18.47% [1] - Additional stocks with notable performance include: - Yahua Electronics: +6.29% - Zhonglu Shares: +7.08% - Jinlihua Electric: +4.81% [1]

中广天择传媒股份有限公司 2025 年第二次临时股东会会议资料 2025 年 11 月 | 目录 | | --- | 3、会议进行中只接受股东及股东代表发言或提问，有发言意向的股东及股 东代表报到时向工作人员登记，由主持人视会议的具体情况合理安排发言，并安 排公司有关人员回答股东提出的问题，发言或提问应围绕本次会议议题进行，简 明扼要。建议每位股东发言时间不超过三分钟。 4、本次股东会表决采用现场投票和网络投票相结合的表决方式。公司股东 只能选择现场投票或网络投票中的一种表决方式。如同一股份通过现场和网络投 票系统重复进行表决的，以第一次投票表决结果为准。 5、本次股东会共审议 10 项议案。 6、本次股东会由一名股东代表、一名监事及公司聘请的见证律师参加监票， 对投票和计票过程进行监督。 7、本次股东会由北京国枫（深圳）律师事务所律师现场见证。 8、保持会场安静和整洁，请将移动电话调至振动档或静音，会场内请勿吸 烟。 | 1.2025 年第二次临时股东会会议须知 3 | | --- | | 2.2025 年第二次临时股东会议程 4 | | 3.议案一资料：《关于取消监事会、修订<公司章程>并办理备案登记的议 ...

中广天择传媒股份有限公司 董事会基金管理办法 二○二五年十月 第一章 总则 第一条 为更好地履行董事会各项职责，提高董事会决策效率，以及更好地 实行激励机制，调动董事、高级管理人员及有特殊贡献人员的积极性，公司设立 董事会基金。 第二条 本办法所称董事会基金是指专项用于公司董事会运作的各项业务开 支以及对包括董事、高级管理人员在内的对公司经营和发展作出特殊贡献的人员 奖励支出。 3、对包括公司董事、高级管理人员在内的对公司经营和发展作出特殊贡献 的人员的专项奖励； 第二章 董事会基金提取办法 第三条 董事会基金在公司上年经审计的合并会计报表营业收入 1.5%的比 例以内并根据当年使用计划提取，在管理费用中列支，纳入财务预算方案管理。 第四条 上年度基金余额及利息结存转入下年度基金账户，作增加基金额处 理，若该余额已达上年度合并会计报表营业收入总额的 1.5%时，当年的基金不 再提取；上年度基金余额与当年度计提的基金额之和不得超过上年度合并会计报 表营业收入总额的 1.5%。 第三章 董事会基金的用途 第五条 董事会基金主要用于如下事项： 1、公司召开股东会、董事会会议、董事会专门委员会会议所需经费； 2、公司 ...

中广天择传媒股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 证券代码：603721 证券简称：*ST 天择 公告编号：2025-033 重要内容提示： 会议召开时间：2025 年 11 月 28 日 （星期五） 09:00-10:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 21 日 （星期五） 至 11 月 27 日 （星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 tvzone@tvzone.cn 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 董事长：彭勇先生 总经理：傅冠军先生 董事会秘书：周智先生 中广天择传媒股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发 布公司 2025 年第三季度报告，为便 ...