Core Viewpoint - The company has approved a credit limit application to Hengfeng Bank for operational funding needs, amounting to a maximum of RMB 100 million with a one-year term [1] Group 1 - The company held its 13th (temporary) meeting of the 6th Board of Directors on October 13, 2025 [1] - The board approved the proposal for the company to apply for a credit limit from Hengfeng Bank, Changsha Branch [1] - The final guarantee method and limit will be subject to the bank's actual approval [1] Group 2 - The credit limit application is aimed at meeting the company's operational funding requirements [1] - The approved credit limit is not to exceed RMB 100 million [1] - The credit limit has a maximum term of one year [1]

Core Insights - The duty-free shop concept index rose by 0.76%, ranking 10th among concept sectors, with 22 stocks increasing in value, led by Bubu Gao, Hainan Development, and Caesar Travel, which rose by 3.31%, 2.52%, and 2.42% respectively [1] - The duty-free shop sector experienced a net outflow of 2.3966 million yuan in capital, with 14 stocks seeing net inflows, and 6 stocks receiving over 10 million yuan in net inflows, led by Tibet Summit with 36.3033 million yuan [2][3] - The leading stocks in terms of net inflow ratio included Wushang Group, Zhu Mian Group, and Caesar Travel, with net inflow ratios of 6.42%, 6.22%, and 5.90% respectively [3] Sector Performance - The duty-free shop sector's performance was notable, with a total of 22 stocks increasing, while the top gainers included Bubu Gao, Hainan Development, and Caesar Travel [1] - The overall market saw various concept sectors with differing performances, such as the cultivated diamond sector rising by 3.74% and the national big fund holding sector declining by 5.47% [2] - The duty-free shop sector's net capital outflow indicates a mixed sentiment among investors, despite some individual stocks performing well [2][3] Stock Specifics - Key stocks in the duty-free shop sector included Tibet Summit, Caesar Travel, and Bubu Gao, which had significant net inflows of capital [2][3] - The stock performance varied, with some stocks like Nanning Department Store and ST Huayang experiencing declines of 1.91% and 1.41% respectively [1][4] - The trading volume and turnover rates for leading stocks in the duty-free sector were also highlighted, with Tibet Summit showing a turnover rate of 9.33% [3]

证券代码：603825 证券简称：ST 华扬 公告编号：2025-114 陈蓉蓉，女，1991 年出生，中国国籍，本科学历；自 2014 年 10 月至今在公 司内审部任职，现职务为内审专员。 本议案无须提交公司股东大会审议。 特此公告。 华扬联众数字技术股份有限公司董事会 华扬联众数字技术股份有限公司 关于聘任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法律责任。 华扬联众数字技术股份有限公司（以下简称"公司"）于 2025 年 10 月 13 日召开第六届董事会第十三次（临时）会议，审议通过了《关于聘任公司证券事 务代表的议案》，现就相关事宜公告如下： 根据相关规定和业务需要，同意公司聘任陈蓉蓉担任公司证券事务代表，协 助董事会秘书工作，任期自本次董事会审议通过之日起至第六届董事会任期届满 之日止。 证券事务代表简历如下： 2025 年 10 月 15 日 1 ...

证券代码：603825 证券简称：ST 华扬 公告编号：2025-112 华扬联众数字技术股份有限公司 特此公告。 关于向恒丰银行申请授信额度的公告 华扬联众数字技术股份有限公司董事会 2025 年 10 月 15 日 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。 1 华扬联众数字技术股份有限公司（以下简称"公司"）于 2025 年 10 月 13 日召开第六届董事会第十三次（临时）会议，审议通过了《关于公司向恒丰银行 股份有限公司长沙分行申请授信额度的议案》，现就相关事宜公告如下： 为满足公司经营资金需求，同意公司向恒丰银行股份有限公司长沙分行申请 总额不超过人民币 1 亿元的授信额度，授信期限不超过 1 年，最终担保方式及额 度以银行实际审批为准。 本议案无须提交公司股东大会审议。 ...

为满足公司经营资金需求，同意公司向广东南粤银行股份有限公司长沙分行 申请总额不超过人民币 1 亿元的授信额度，授信期限不超过 1 年，最终担保方式 及额度以银行实际审批为准。 证券代码：603825 证券简称：ST 华扬 公告编号：2025-113 本议案无须提交公司股东大会审议。 特此公告。 华扬联众数字技术股份有限公司 关于向广东南粤银行申请授信额度的公告 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。 华扬联众数字技术股份有限公司（以下简称"公司"）于 2025 年 10 月 13 日召开第六届董事会第十三次（临时）会议，审议通过了《关于公司向广东南粤 银行股份有限公司长沙分行申请授信额度的议案》，现就相关事宜公告如下： 华扬联众数字技术股份有限公司董事会 2025 年 10 月 15 日 1 ...

证券代码：603825 证券简称：ST 华扬 公告编号：2025-111 华扬联众数字技术股份有限公司 关于第六届董事会第十三次（临时）会议决议的公告 (五) 本次会议由公司董事长张利刚先生主持，公司监事及高级管理人员列席 了本次会议。 二、 董事会会议审议情况 1.审议通过了《关于公司向恒丰银行股份有限公司长沙分行申请授信额度的 议案》 为满足公司经营资金需求，同意公司向恒丰银行股份有限公司长沙分行申请 总额不超过人民币 1 亿元的授信额度，授信期限不超过 1 年，最终担保方式及额 度以银行实际审批为准。根据《上海证券交易所股票上市规则》及《公司信息披 露暂缓与豁免管理制度》的规定，公司本次无偿接受关联方担保事项可免于按照 关联交易的方式进行审议和披露。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 2. 审议通过了《关于公司向广东南粤银行股份有限公司长沙分行申请授信 额度的议案》 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、 董事会会议召开情况 (一) 华扬联众数字技术股份有限公司（以下简称"公司"）第六届 ...

Group 1 - ST Huayang held its 13th temporary board meeting of the 6th session on October 13, 2025, via communication voting [1] - The meeting reviewed the proposal for the company to apply for a credit limit from Guangdong Nanyue Bank Co., Ltd. Changsha Branch [1] - For the first half of 2025, ST Huayang's revenue composition was 99.94% from internet advertising services and 0.06% from other income [1] Group 2 - As of the report, ST Huayang's market capitalization is 2.3 billion yuan [1]

Group 1 - The company announced the resignation of its Vice President and Board Secretary, Mr. Guo Jianjun, due to work-related changes [2] - Mr. Guo held 69,304 shares, representing 0.0274% of the company's total equity, and his term was originally set to end on February 9, 2028 [2] - The company confirmed that Mr. Guo's departure will not adversely affect daily operations, and the Board expressed gratitude for his contributions during his tenure [2] Group 2 - During the vacancy of the Board Secretary position, the company appointed Ms. Feng Kangjie, the Vice Chairman and Non-Independent Director, to act as the interim Board Secretary [2] - The company will expedite the process of appointing a new Board Secretary in accordance with relevant regulations [2]

证券代码：603825 证券简称：ST 华扬 公告编号：2025-110 二、副总经理、董事会秘书离任对公司的影响 截至本公告披露日，郭建军先生持有公司股份 69,304 股，占公司总股本的 0.0274%。郭建军先生原定任期届满日为 2028 年 2 月 9 日，其持有的公司股份将 严格按照《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》等 相关法律、法规、规范性文件进行管理。郭建军先生已按公司相关规定做好交接 工作，其离任不会对公司日常经营产生不利影响，公司及公司董事会对郭建军先 生在任职期间为公司发展所做出的宝贵贡献表示衷心感谢！ 根据《中华人民共和国公司法》、《上海证券交易所股票上市规则》以及《公 司章程》等相关规定，在公司董事会秘书空缺期间，公司董事会指定公司副董事 长、非独立董事、总经理冯康洁女士代行董事会秘书职责，公司将按照相关规定 尽快完成董事会秘书的聘任工作。 特此公告。 华扬联众数字技术股份有限公司 关于副总经理、董事会秘书离任的公告 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。 一、提前离任 ...

Core Viewpoint - The recent popularity of the Sora App and advancements in AI video technology are driving a strategic transformation in the advertising and marketing industry, shifting focus from cost reduction to brand value reconstruction [1] Company Summary - ST Huayang has integrated AI technology into its core strategy early on, establishing a systematic methodology for AI video creation that addresses key technical challenges such as character consistency [1] - The company has successfully produced a series of AI video works, including "Drunken Flowers," "Asking for the Top," "Sister Pig in Changsha," and "Mid-Autumn Festival," exploring AI-native narrative modes that align with brand marketing needs [1] - ST Huayang emphasizes the concept of "AI Humanism," advocating that AI technology should serve emotional communication and brand building rather than being used solely for technical applications [1] Industry Summary - The advertising marketing industry is undergoing a strategic shift from a tool-oriented mindset focused on "cost reduction and efficiency" to a new paradigm centered on "brand value reconstruction" [1] - The integration of AI in marketing is seen as a key driver for innovation, providing practical references and transformative directions for the industry's evolution [1]