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新华网(603888) - 新华网股份有限公司关于召开2025年半年度业绩说明会的公告
2025-08-27 12:34
证券代码:603888 证券简称:新华网 公告编号:2025-048 新华网股份有限公司 关于召开 2025 年半年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。 重要内容提示: 新华网股份有限公司(以下简称"公司")于 2025 年 8 月 28 日在上海证券 交易所网站(www.sse.com.cn)发布公司 2025 年半年度报告,为便于广大投资 者更全面深入地了解公司 2025 年半年度经营成果、财务状况,公司计划于 2025 年 9 月 5 日(星期五)15:00-16:00 举行 2025 年半年度业绩说明会,就投资者 关心的问题进行交流。 一、说明会类型 本次投资者说明会以视频直播结合网络互动形式召开,公司将针对 2025 年 半年度的经营成果及财务指标的具体情况与投资者进行互动交流和沟通,在信息 披露允许的范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 (一) 会议召开时间:2025 年 9 月 5 日(星期五)15:00-16:00 ( 二 ) 会 议 召 开 地 点 ...
新华网(603888) - 新华网股份有限公司关于2025年半年度募集资金存放与实际使用情况的专项报告
2025-08-27 12:34
证券代码:603888 证券简称:新华网 公告编号:2025-045 新华网股份有限公司 关于 2025 年半年度募集资金存放与实际使用情况的 专项报告 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、募集资金基本情况 (一)实际募集资金金额及资金到位时间 根据中国证券监督管理委员会证监许可[2016]2175 号文《关于核准新华网 股份有限公司首次公开发行股票的批复》,新华网股份有限公司(以下简称"公 司"或"本公司"或"新华网")获准向社会公开发行人民币普通股 51,902,936 股,每股发行价格为人民币 27.69 元,股款以人民币缴足,总募集资金共计人民 币 1,437,192,297.84 元,扣除承销及保荐费用、审计及验资费用、律师费用、 信息披露费用以及发行手续费用等共计人民币 57,306,611.74 元后,净募集资金 共计人民币 1,379,885,686.10 元,上述资金于 2016 年 10 月 24 日到位。经由瑞 华会计师事务所(特殊普通合伙)予以验证并于 2016 年 10 月 25 日出 ...
新华网(603888) - 新华网股份有限公司关于召开2025年第一次临时股东大会的通知
2025-08-27 12:33
证券代码:603888 证券简称:新华网 公告编号:2025-047 新华网股份有限公司 股东大会召开日期:2025年9月12日 本次股东大会采用的网络投票系统:上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第一次临时股东大会 (二)股东大会召集人:董事会 (三)投票方式:本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 关于召开2025年第一次临时股东大会的通知 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: 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间:2025 年 9 月 12 日 14 点 50 分 召开地点:北京市西城区宣武门西大街 129 号金隅大厦五层公司会议室 网络投票系统:上海证券交易所股东大会网络投票系统 网络投票起止时间:自2025 年 9 月 12 日 至2025 年 9 月 12 日 采用上海证券交易所网络投票系统,通过交易系统投票平台的投票时间为股 东大会召开当日的 ...
新华网发布回购股份管理制度 规范回购行为保障各方权益
Xin Lang Cai Jing· 2025-08-27 12:32
新华网近日发布《回购股份管理制度》,旨在规范公司回购股份行为,切实保护广大投资者利益。该制 度依据多项法律法规及公司章程,结合公司实际情况制定,对回购股份的情形、条件、方式、资金来 源、实施程序等方面进行了详细规定。 回购情形明确 符合条件方可实施 根据制度,公司在减少注册资本、用于员工持股计划或股权激励、用于转换可转债、维护公司价值及股 东权益必需等情形下,可依照规定收购本公司股份。其中,维护公司价值及股东权益必需情形需符合连 续20个交易日内公司股票收盘价格跌幅累计达到20% 、公司股票收盘价格低于最近1年股票最高收盘价 格的50%等条件之一。除上述情形外,公司不得收购本公司股份。 回购条件严格 保障公司持续发展 公司回购股份需同时满足多项条件,如公司股票上市已满6个月、最近1年无重大违法行为、回购后具备 持续经营和债务履行能力、股权分布符合上市条件等。回购股份方式包括集中竞价交易、要约方式及中 国证监会认可的其他方式,因不同情形回购的股份处理方式和期限也有明确规定。 资金来源多样 合理安排规模金额 用于回购的资金来源合法合规,包括自有资金、发行优先股债券募集资金、已依法变更为永久补充流动 资金的募集资金 ...
新华网(603888) - 新华网股份有限公司第五届监事会第十四次会议决议公告
2025-08-27 12:32
证券代码:603888 证券简称:新华网 公告编号:2025-044 新华网股份有限公司 第五届监事会第十四次会议决议公告 本公司监事会及全体监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、监事会会议召开情况 (一)审议通过了《新华网股份有限公司 2025 年半年度报告及其摘要》 《新华网股份有限公司 2025 年半年度报告及其摘要》编制和审核程序符合 相关法律法规、中国证监会及上海证券交易所相关规定,内容真实、准确、完整, 所包含的信息能够从各个方面真实地反映公司该报告期的经营管理和财务状况 等事项;公司监事会未发现参与《新华网股份有限公司 2025 年半年度报告及其 摘要》编制和审议的人员有违反保密规定的行为。因此,同意《新华网股份有限 公司 2025 年半年度报告及其摘要》。 表决结果:3 票赞成,0 票反对,0 票弃权。同意的票数占全体监事所持的 有表决权票数的 100%。 (二)审议通过了《新华网股份有限公司关于 2025 年半年度募集资金存放 与实际使用情况的专项报告》 公司董事会编制的《新华网股份有限公司关于 2025 年半年 ...
新华网(603888) - 新华网股份有限公司第五届董事会第十七次会议决议公告
2025-08-27 12:30
证券代码:603888 证券简称:新华网 公告编号:2025-043 新华网股份有限公司 第五届董事会第十七次会议决议公告 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法律责任。 一、董事会会议召开情况 新华网股份有限公司(以下简称"公司")第五届董事会第十七次会议通知 和材料于 2025 年 8 月 15 日以书面、电子邮件方式送达全体董事,会议于 2025 年 8 月 27 日以通讯表决方式召开。本次会议应出席董事 15 人,实际出席董事 15 人。本次董事会会议的召开符合《中华人民共和国公司法》(以下简称"《公 司法》")和《新华网股份有限公司章程》(以下简称"《公司章程》")的有关规定。 会议由董事长储学军先生主持。 二、董事会会议审议情况 (一)审议通过了《新华网股份有限公司 2025 年半年度报告及其摘要》 同意《新华网股份有限公司 2025 年半年度报告及其摘要》。本议案已经公司 董事会审计委员会事前审议通过,审计委员会委员一致同意该议案并同意提交公 司董事会审议。 表决结果:15 票赞成,0 票反对,0 票弃权。同意的 ...
新华网最新公告:上半年净利润同比增长30.20%
Sou Hu Cai Jing· 2025-08-27 12:19
Group 1 - The company announced a revenue of 811 million yuan for the first half of 2025, representing a year-on-year growth of 2.30% [1] - The net profit attributable to shareholders for the same period was 154 million yuan, showing a year-on-year increase of 30.20% [1] - The company will not distribute profits or increase capital reserves through stock conversion during this reporting period [1]
新华网(603888) - 2025 Q2 - 季度财报
2025-08-27 12:15
[Important Notice](index=2&type=section&id=Important%20Notice) This section provides important notices for Xinhuanet's 2025 semi-annual report, with the Board of Directors, Supervisory Board, and senior management guaranteeing the report's truthfulness, accuracy, and completeness, and stating it is unaudited. - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content[3](index=3&type=chunk) - This semi-annual report is unaudited[4](index=4&type=chunk) - The company will not distribute profits or convert capital reserves into share capital during this reporting period[6](index=6&type=chunk) - Forward-looking statements regarding the company's development strategy and future operating plans in this report do not constitute a substantive commitment to investors; investors are advised to be aware of investment risks[7](index=7&type=chunk) [Section I Definitions](index=4&type=section&id=Section%20I%20Definitions) This section defines common terms used in the report, clarifying key terms such as "the Company," "Controlling Shareholder," and "Xinhua News Agency," and lists the full names and abbreviations of various subsidiaries, investment companies, and partners. - The Company, Company, Issuer, Xinhuanet refers to Xinhuanet Co., Ltd[13](index=13&type=chunk) - Controlling Shareholder, Actual Controller, Xinhua News Agency refers to Xinhua News Agency[13](index=13&type=chunk) - Lists multiple domestic and overseas subsidiaries such as Xinhuanet Jiangsu Co., Ltd., Xinhuanet Sichuan Co., Ltd., and Xinhuanet Guangdong Co., Ltd[13](index=13&type=chunk) [Section II Company Profile and Key Financial Indicators](index=5&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides Xinhuanet's basic company information, contact details, registration and office addresses, and discloses key accounting data and financial indicators for the reporting period, including operating revenue, net profit, and earnings per share, with explanations for major financial indicator changes. - The company's Chinese name is Xinhuanet Co., Ltd., and its legal representative is Chu Xuejun[15](index=15&type=chunk) - The company's stock abbreviation is Xinhuanet, stock code is **603888**, listed on the Shanghai Stock Exchange[19](index=19&type=chunk) - Net profit attributable to shareholders of the listed company increased by **30.20%** year-on-year, primarily due to the company's optimized business structure, controlled cost expenditures, and changes in corporate income tax policies during the reporting period[23](index=23&type=chunk) - Net cash flow from operating activities increased by **51.15%** year-on-year, primarily due to increased sales collection during the reporting period[24](index=24&type=chunk) [I. Company Information](index=5&type=section&id=I.%20Company%20Information) This section discloses the company's Chinese name, abbreviation, foreign name, acronym, and legal representative information. - Company Chinese Name: Xinhuanet Co., Ltd., Chinese Abbreviation: Xinhuanet[15](index=15&type=chunk) - Company Legal Representative: Chu Xuejun[15](index=15&type=chunk) [II. Contact Person and Information](index=5&type=section&id=II.%20Contact%20Person%20and%20Information) This section provides the names, contact addresses, telephone numbers, fax numbers, and email addresses of the Board Secretary and Securities Affairs Representative. - Board Secretary: Yang Qingbing, Securities Affairs Representative: Song Bo[16](index=16&type=chunk) - Contact Address: Jinyu Building, No. 129 Xuanwumen West Street, Xicheng District, Beijing[16](index=16&type=chunk) [III. Brief Introduction to Changes in Basic Information](index=5&type=section&id=III.%20Brief%20Introduction%20to%20Changes%20in%20Basic%20Information) This section introduces the historical changes in the company's registered address and provides the company's office address, postal code, website, and email address, noting no changes during the reporting period. - The company's registered address has changed from Daxing District, Beijing to Room 909-A01, 9th Floor, No. 83 Deshengmen Outer Street, Xicheng District, Beijing[17](index=17&type=chunk) - Company Website: www.xinhuanet.com; www.news.cn[17](index=17&type=chunk) [IV. Brief Introduction to Changes in Information Disclosure and Document Storage Locations](index=5&type=section&id=IV.%20Brief%20Introduction%20to%20Changes%20in%20Information%20Disclosure%20and%20Document%20Storage%20Locations) This section lists the company's selected information disclosure newspapers, the website address for semi-annual report publication, and the company's semi-annual report storage location, with no changes during the reporting period. - Company Information Disclosure Newspapers: *China Securities Journal*, *Shanghai Securities News*[18](index=18&type=chunk) - Website Address for Semi-Annual Report Publication: www.sse.com.cn[18](index=18&type=chunk) [V. Company Stock Overview](index=5&type=section&id=V.%20Company%20Stock%20Overview) This section provides the company's stock type, listing exchange, stock abbreviation, and stock code. - Stock Type: A-share, Listing Exchange: Shanghai Stock Exchange[19](index=19&type=chunk) - Stock Abbreviation: Xinhuanet, Stock Code: **603888**[19](index=19&type=chunk) [VII. Key Accounting Data and Financial Indicators](index=5&type=section&id=VII.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section details key accounting data and financial indicators for the current reporting period and the same period last year, explaining major changes, with the company's net profit and earnings per share showing significant growth. Key Accounting Data (January-June 2025 vs. Same Period Last Year) | Indicator | Current Period (Jan-Jun) | Same Period Last Year | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 810.53 million RMB | 792.32 million RMB | 2.30 | | Total Profit | 158.21 million RMB | 143.58 million RMB | 10.19 | | Net Profit Attributable to Shareholders of Listed Company | 154.06 million RMB | 118.33 million RMB | 30.20 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses | 123.36 million RMB | 97.22 million RMB | 26.89 | | Net Cash Flow from Operating Activities | -54.93 million RMB | -112.44 million RMB | Not Applicable | | **Current Period End vs. Previous Year End** | | | | | Net Assets Attributable to Shareholders of Listed Company | 3.62 billion RMB | 3.49 billion RMB | 3.75 | | Total Assets | 4.90 billion RMB | 5.14 billion RMB | -4.49 | Key Financial Indicators (January-June 2025 vs. Same Period Last Year) | Indicator | Current Period (Jan-Jun) | Same Period Last Year | Period-on-Period Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | 0.2968 | 0.2280 | 30.18 | | Diluted Earnings Per Share (RMB/share) | 0.2968 | 0.2280 | 30.18 | | Basic Earnings Per Share Excluding Non-Recurring Gains and Losses (RMB/share) | 0.2377 | 0.1873 | 26.91 | | Weighted Average Return on Net Assets (%) | 4.31 | 3.39 | Increased by 0.92 percentage points | | Weighted Average Return on Net Assets Excluding Non-Recurring Gains and Losses (%) | 3.45 | 2.78 | Increased by 0.67 percentage points | - Net profit attributable to shareholders of the listed company increased by **30.20%** year-on-year, primarily due to the company's optimized business structure, controlled cost expenditures, increased operating profit, and changes in corporate income tax policies during the reporting period[23](index=23&type=chunk) - Net cash flow from operating activities increased by **51.15%** year-on-year, primarily due to increased sales collection during the reporting period[24](index=24&type=chunk) [IX. Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=IX.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section lists the specific non-recurring gains and losses items and their amounts for the reporting period, totaling 30,698,912.16 yuan. Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Government grants recognized in current profit or loss | 23.84 million RMB | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises, excluding effective hedge accounting related to normal business operations | 2.56 million RMB | | Reversal of impairment provisions for accounts receivable subject to separate impairment testing | 1.10 million RMB | | Gains and losses from contingent events unrelated to the company's normal business operations | 3.48 million RMB | | Other non-operating income and expenses apart from the above | -0.61 million RMB | | Other gains and losses items that meet the definition of non-recurring gains and losses | 0.40 million RMB | | Less: Income tax impact | 0.07 million RMB | | **Total** | **30.70 million RMB** | [Section III Management Discussion and Analysis](index=8&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section comprehensively reviews Xinhuanet's industry development, main business operations, operating results, core competencies, and risks during the reporting period, highlighting the company's active strategic布局 in AI and digital economy, steady progress in editorial and business work, while noting risks such as business model, accounts receivable, and talent loss. - The company belongs to the information transmission, software, and information technology services industry, benefiting from the growth of China's internet user base and the rapid development of generative artificial intelligence[30](index=30&type=chunk)[31](index=31&type=chunk) - During the reporting period, the company achieved operating revenue of **811 million RMB**, a year-on-year increase of **2.30%**; net profit attributable to shareholders of the listed company was **154 million RMB**, a year-on-year increase of **30.20%**[39](index=39&type=chunk) - The company's core competencies include brand advantage, communication advantage, content advantage, user and customer resource advantage, and innovation advantage[43](index=43&type=chunk)[44](index=44&type=chunk) - The company faces risks related to its business model, omnimedia advertising business, significant accounts receivable balance, talent loss, rising costs, financial instruments, network technology, and system security[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk)[66](index=66&type=chunk)[67](index=67&type=chunk) [I. Industry and Main Business Overview During the Reporting Period](index=8&type=section&id=I.%20Industry%20and%20Main%20Business%20Overview%20During%20the%20Reporting%20Period) This section elaborates on the development trends of the internet and related services industry, particularly the rapid advancements in artificial intelligence and the digital economy, and introduces the company's main businesses, including omnimedia advertising, government and enterprise integrated services, digital and intelligent businesses, and cultural and creative services, as a media and culture listed company controlled by Xinhua News Agency. - The company belongs to the Internet and Related Services category within the Information Transmission, Software, and Information Technology Services Industry (I) sector[30](index=30&type=chunk) - As of June 2025, China's internet user base reached **1.123 billion** people, with an internet penetration rate of **79.7%**[31](index=31&type=chunk) - In 2024, China's artificial intelligence industry scale exceeded **700 billion RMB**, maintaining a growth rate of over **20%** for several consecutive years[31](index=31&type=chunk) - The company's main businesses include omnimedia advertising services, government and enterprise integrated services, digital and intelligent businesses, and cultural and creative services[34](index=34&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk) [II. Discussion and Analysis of Operations](index=9&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) During the reporting period, Xinhuanet, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, deepened reforms and seized opportunities in artificial intelligence, achieving significant progress in both editorial and business operations, with vibrant news reporting, steady business performance, outstanding emerging business segments, and technology construction fully empowering intelligent transformation. - The company is guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, seizing development opportunities in the era of artificial intelligence, and accelerating digital empowerment and intelligent transformation[36](index=36&type=chunk) - In editorial work, the General Secretary's thought and image promotion continued to be innovative and outstanding, major thematic publicity demonstrated responsibility, guidance on social hot topics was bold and effective, and international communication effectiveness continuously strengthened[37](index=37&type=chunk)[38](index=38&type=chunk) 2025 Semi-Annual Operating Performance | Indicator | Amount (100 million RMB) | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 8.11 | 2.30 | | Net Profit Attributable to Shareholders of Listed Company | 1.54 | 30.20 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses | 1.23 | 26.89 | - The company continues to promote the deep transformation of traditional pillar industries, expanding new customers, channels, and scenarios to solidify the 'first curve'; simultaneously accelerating the development of the digital economy and cultivating new 'second curve' momentum businesses such as big data and artificial intelligence, 5G new value-added services, and AIGC applications[40](index=40&type=chunk)[41](index=41&type=chunk) - Technology construction provides comprehensive empowerment, deepening technological enablement, driving innovative development, optimizing and improving the intelligent functions of the super-editing platform, and promoting the deep application of new artificial intelligence technologies such as big data, large models, and AIGC in more scenarios[42](index=42&type=chunk) [III. Analysis of Core Competencies During the Reporting Period](index=11&type=section&id=III.%20Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) Xinhuanet's core competencies include its brand influence as a national media outlet, omnimedia communication capabilities, authoritative and high-quality content resources, extensive user and client base, and continuous innovation capabilities in the digital economy and artificial intelligence fields. - Brand Advantage: Xinhuanet is a central key news website sponsored by Xinhua News Agency, the national news agency, and has been ranked among the 'Top 100 Chinese Internet Enterprises' for **11** consecutive years[43](index=43&type=chunk) - Communication Advantage: Possesses **31** local PC channels and **9** foreign language websites and clients, with an average daily multi-language, multi-terminal output of **11,000** articles, users spanning over **200** countries and regions worldwide, and a cumulative user base of **760 million**[43](index=43&type=chunk) - Content Advantage: Guided by the philosophy of 'Spreading China, Reporting the World; Authoritative Voice, Amiable Expression,' continuously produces high-quality works in major thematic publicity and guidance on social hot topics[43](index=43&type=chunk) - Innovation Advantage: Actively expands innovative businesses such as big data and artificial intelligence, 5G new value-added services, IoT, and AIGC applications, and launched the 'Artificial Intelligence Industry Innovation Empowerment Platform'[44](index=44&type=chunk) [IV. Key Operating Performance During the Reporting Period](index=12&type=section&id=IV.%20Key%20Operating%20Performance%20During%20the%20Reporting%20Period) This section analyzes the company's main business financial statement item changes, asset and liability situation, investment status, and major holding and participating companies, showing growth in operating revenue and net profit, a stable asset and liability structure, and active equity investments. - Operating revenue increased by **2.30%** year-on-year, primarily due to business expansion and scale increase[45](index=45&type=chunk) - Net assets attributable to shareholders of the listed company increased by **3.75%** year-on-year, while total assets decreased by **4.49%** year-on-year[21](index=21&type=chunk) - The ending balance of trading financial assets increased by **58.10%** compared to the end of the previous year, primarily due to an increase in structured deposits[49](index=49&type=chunk) - The ending balance of other non-current financial assets increased by **234.82%** compared to the end of the previous year, primarily due to new financial asset investments[49](index=49&type=chunk) [(I) Main Business Analysis](index=12&type=section&id=%28I%29%20Main%20Business%20Analysis) This section analyzes changes in the company's major financial statement items, explaining the reasons for fluctuations in operating revenue, operating costs, selling expenses, administrative expenses, financial expenses, research and development expenses, and net cash flows from various activities. Analysis Table of Changes in Financial Statement Items | Item | Current Period Amount (RMB) | Same Period Last Year Amount (RMB) | Change Ratio (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 810.53 million RMB | 792.32 million RMB | 2.30 | | Operating Costs | 485.17 million RMB | 491.44 million RMB | -1.28 | | Selling Expenses | 104.32 million RMB | 100.31 million RMB | 3.99 | | Administrative Expenses | 52.29 million RMB | 45.02 million RMB | 16.14 | | Financial Expenses | -17.59 million RMB | -30.39 million RMB | Not Applicable | | Research and Development Expenses | 38.52 million RMB | 39.49 million RMB | -2.46 | | Net Cash Flow from Operating Activities | -54.93 million RMB | -112.44 million RMB | Not Applicable | | Net Cash Flow from Investing Activities | -185.91 million RMB | -980.70 million RMB | Not Applicable | | Net Cash Flow from Financing Activities | -95.81 million RMB | -33.97 million RMB | Not Applicable | - Explanation for change in operating revenue: primarily due to the company's business expansion and scale increase during the reporting period[45](index=45&type=chunk) - Explanation for change in net cash flow from operating activities: primarily due to increased sales collection during the reporting period[45](index=45&type=chunk) [(III) Analysis of Assets and Liabilities](index=14&type=section&id=%28III%29%20Analysis%20of%20Assets%20and%20Liabilities) This section provides a detailed analysis of the company's assets and liabilities at the end of the period, focusing on significant changes and their reasons for items such as trading financial assets, prepayments, other non-current financial assets, employee compensation payable, taxes payable, dividends payable, and non-current liabilities due within one year. Changes in Assets and Liabilities (End of Current Period vs. End of Previous Year) | Item Name | Current Period End Amount (RMB) | Proportion of Total Assets at Current Period End (%) | Previous Year End Amount (RMB) | Proportion of Total Assets at Previous Year End (%) | Change Ratio from Previous Year End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 187.82 million RMB | 3.83 | 118.80 million RMB | 2.31 | 58.10 | | Prepayments | 38.64 million RMB | 0.79 | 21.43 million RMB | 0.42 | 80.26 | | Other Non-Current Financial Assets | 46.87 million RMB | 0.96 | 14.00 million RMB | 0.27 | 234.82 | | Employee Compensation Payable | 68.34 million RMB | 1.39 | 155.64 million RMB | 3.03 | -56.09 | | Taxes Payable | 49.66 million RMB | 1.01 | 74.62 million RMB | 1.45 | -33.45 | | Dividends Payable | 70.59 million RMB | 1.44 | - | - | Not Applicable | | Non-Current Liabilities Due Within One Year | 8.21 million RMB | 0.17 | 37.35 million RMB | 0.73 | -78.02 | - Overseas assets amounted to **34.62 million RMB**, accounting for **0.71%** of total assets[50](index=50&type=chunk) [(IV) Investment Analysis](index=15&type=section&id=%28IV%29%20Investment%20Analysis) This section outlines the company's external equity investments, including significant equity investments in Xinhuanet Zhuyun, and changes in financial assets measured at fair value, such as stocks and private equity funds. - The company's equity investment in Xinhuanet Zhuyun amounted to **81.94 million RMB**, with a **6%** shareholding, and is not consolidated[53](index=53&type=chunk) Changes in Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (RMB) | Amount Purchased in Current Period (RMB) | Amount Sold/Redeemed in Current Period (RMB) | Ending Balance (RMB) | | :--- | :--- | :--- | :--- | :--- | | Stocks | 72.23 million RMB | - | - | 77.34 million RMB | | Private Equity Funds | 2.00 million RMB | 18.00 million RMB | - | 19.87 million RMB | | Other | 86.77 million RMB | 370.00 million RMB | 286.02 million RMB | 171.98 million RMB | | **Total** | **161.00 million RMB** | **388.00 million RMB** | **286.02 million RMB** | **269.19 million RMB** | - Private equity funds primarily include Runxin No. 4 Partnership, Wenchang No. 2 Partnership, Changsha Quanzhong Partnership, and Xinhuanet Zhixin Partnership[57](index=57&type=chunk) [(VI) Analysis of Major Holding and Participating Companies](index=18&type=section&id=%28VI%29%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section lists the basic information and key financial data for the company's major subsidiaries and participating companies that significantly impact net profit (over 10%), including registered capital, total assets, net assets, operating revenue, operating profit, and net profit. Financial Performance of Major Subsidiaries and Participating Companies (Unit: 10,000 RMB) | Company Name | Company Type | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Company | Subsidiary | 2,600.00 | 12,993.23 | 9,651.13 | 2,591.22 | 523.91 | 392.93 | | Sichuan Company | Subsidiary | 2,600.00 | 7,711.87 | 6,278.32 | 2,407.58 | 423.66 | 387.21 | | Guangdong Company | Subsidiary | 2,600.00 | 8,880.84 | 5,743.23 | 1,567.35 | 325.47 | 304.96 | | Technology Company | Subsidiary | 1,000.00 | 13,756.74 | 10,983.62 | 3,115.06 | 604.11 | 563.82 | | Xinhuanet Xuanwen | Subsidiary | 3,450.00 | 16,818.72 | 10,527.93 | 4,889.13 | 1,804.65 | 1,803.74 | | Venture Capital | Subsidiary | 10,000.00 | 11,275.83 | 11,008.48 | 2.88 | -382.55 | -382.55 | | Xinhuanet Zhuyun | Participating Company | 49,019.61 | 44,470.46 | 36,996.41 | 3,434.41 | -2,205.40 | -2,205.69 | [V. Other Disclosure Matters](index=22&type=section&id=V.%20Other%20Disclosure%20Matters) This section discloses potential risks the company faces, including those related to business model, omnimedia advertising, accounts receivable, talent loss, rising costs, financial instruments, network technology, system security, and fundraising investment projects, and details the progress of the company's "Quality Improvement, Efficiency Enhancement, and Return Focus" action plan, encompassing core business focus, investor return emphasis, technology leadership, investor communication, and strengthened compliance. - The company faces risks related to its business model, omnimedia advertising business, significant accounts receivable balance, talent loss, rising costs, financial instruments, network technology, and system security[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk)[66](index=66&type=chunk)[67](index=67&type=chunk) - There are risks associated with fundraising investment projects, with some projects extended until **October 27, 2026**[68](index=68&type=chunk) - The company actively implements the 'Quality Improvement, Efficiency Enhancement, and Return Focus' action plan, focusing on its core responsibilities and main business, promoting high-quality development, prioritizing investor returns, adhering to technology leadership, and fostering new productive forces[69](index=69&type=chunk)[72](index=72&type=chunk) - The company has implemented its 2024 annual equity distribution plan, based on the total share capital of **519,029,360** shares before the plan's implementation, distributing a cash dividend of **0.136 RMB** per share (tax inclusive) to all shareholders, issuing **0.2** bonus shares per share, and converting **0.1** share per share from capital reserves to all shareholders[71](index=71&type=chunk) - The company actively explores innovative applications of AI in content production, leveraging AI editorial assistants and generative AI tools to create innovative news products[73](index=73&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=26&type=section&id=Section%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section primarily details changes in the company's directors, supervisors, and senior management during the reporting period, the profit distribution plan, and the company's efforts in consolidating poverty alleviation achievements and promoting rural revitalization, noting no profit distribution or capital reserve conversion into share capital for this period. - There were no changes in the company's directors, supervisors, or senior management during the reporting period[77](index=77&type=chunk) - The proposed semi-annual profit distribution plan is no distribution and no capital increase from reserves[77](index=77&type=chunk) - The company actively leverages its media advantages to assist in news planning and dissemination, promote industries in supported regions, collaborate with charitable enterprises for donations, and advance industrial assistance projects and talent cultivation, thereby consolidating and expanding poverty alleviation achievements and implementing rural revitalization[78](index=78&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk) [Section V Significant Matters](index=28&type=section&id=Section%20V%20Significant%20Matters) This section details the fulfillment of commitments by the company's actual controller, controlling shareholder, and the company itself during or continuing into the reporting period, including avoiding horizontal competition, regulating related party transactions, and maintaining independence. It also explains the overall use of raised funds, specific fundraising investment projects, and cash management of idle raised funds. - Both Xinhua News Agency and Xinhua News Agency Investment Holdings Co., Ltd. committed to avoiding horizontal competition, regulating and reducing related party transactions, and maintaining the independence of the listed company[82](index=82&type=chunk)[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk)[86](index=86&type=chunk) - The company and its directors, supervisors, and senior management committed to bearing responsibility for repurchase and compensation obligations arising from false commitments[87](index=87&type=chunk)[88](index=88&type=chunk)[89](index=89&type=chunk)[90](index=90&type=chunk)[91](index=91&type=chunk)[92](index=92&type=chunk) - During the reporting period, the company, its controlling shareholder, and actual controller maintained good integrity, with no significant instances of dishonesty[95](index=95&type=chunk) - Total raised funds amounted to **1.44 billion RMB**, with net proceeds of **1.38 billion RMB**; as of the end of the reporting period, cumulative investment totaled **752.84 million RMB**, with an investment progress of **54.56%**[103](index=103&type=chunk) - The company uses idle raised funds, up to a maximum of **550 million RMB**, for cash management, investing in principal-protected products such as structured deposits and large-denomination certificates of deposit[112](index=112&type=chunk) [I. Fulfillment of Commitments](index=28&type=section&id=I.%20Fulfillment%20of%20Commitments) This section details the commitments made by Xinhua News Agency (actual controller), Xinhua News Agency Investment Holdings Co., Ltd. (controlling shareholder), the company itself, and its directors, supervisors, and senior management regarding acquisition reports or initial public offerings, including resolving horizontal competition, regulating related party transactions, maintaining independence, and repurchase/compensation obligations for false commitments, along with their fulfillment status. - Xinhua News Agency committed to designating 'Xinhuanet' as the sole national comprehensive news-oriented operational portal website under Xinhua News Agency and to avoid horizontal competition[82](index=82&type=chunk) - Xinhua News Agency committed to regulating and reducing related party transactions, avoiding unnecessary related party transactions, and adhering to the principles of fairness and reasonableness[83](index=83&type=chunk) - Xinhua News Agency committed to maintaining independence from Xinhuanet in terms of assets, personnel, finance, organization, and business[84](index=84&type=chunk) - All directors, supervisors, and senior management of the company committed to compensating investors for losses incurred in securities transactions due to any false statements, misleading representations, or major omissions in the prospectus, in accordance with the law[89](index=89&type=chunk) [IX. Explanation of the Integrity Status of the Company, its Controlling Shareholder, and Actual Controller During the Reporting Period](index=41&type=section&id=IX.%20Explanation%20of%20the%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholder%2C%20and%20Actual%20Controller%20During%20the%20Reporting%20Period) During the reporting period, the company, its controlling shareholder, and actual controller maintained good integrity, with no significant instances of dishonesty. - During the reporting period, the company, its controlling shareholder, and actual controller maintained good integrity, with no significant instances of dishonesty, including but not limited to failure to comply with effective court judgments, failure to repay large debts on time, failure to fulfill commitments, being subject to administrative regulatory measures by the CSRC, or disciplinary actions by stock exchanges[95](index=95&type=chunk) [X. Significant Related Party Transactions](index=41&type=section&id=X.%20Significant%20Related%20Party%20Transactions) This section discloses the progress of daily operating related party transactions between the company and its related parties during the reporting period, primarily concerning the approval of the estimated daily related party transaction amount for 2024. - The company convened the 13th meeting of the Fifth Board of Directors on **April 24, 2025**, and the 2024 Annual General Meeting of Shareholders on **June 18, 2025**, both approving the 'Proposal on the Estimated Daily Related Party Transaction Amount for the Company in 2024'[96](index=96&type=chunk) - For the actual fulfillment of daily related party transactions, please refer to 'Section VIII, Financial Report - Related Parties and Related Party Transactions' of this report[96](index=96&type=chunk) [XI. Significant Contracts and Their Performance](index=42&type=section&id=XI.%20Significant%20Contracts%20and%20Their%20Performance) This section primarily discloses the company's leasing activities as a lessee, including leased assets, involved amounts, lease start and end dates, and notes that some leases are related party transactions. Major Leasing Information | Lessor Name | Leased Asset Description | Amount Involved in Leased Assets (RMB) | Lease Start Date | Lease End Date | Is it a Related Party Transaction | | :--- | :--- | :--- | :--- | :--- | :--- | | Beijing Jinyu Co., Ltd. | 4-8th Floor, 10th Floor, 12B Floor, Jinyu Building, No. 129 Xuanwumen West Street, Xicheng District, Beijing | 21.05 million RMB | 2021/11/1 | 2025/8/31 | No | | Xinhua News Agency Printing Co., Ltd. | 3rd Floor, South Building, No. 97 Xuanwumen West Street, Xicheng District, Beijing | 2.16 million RMB | 2022/7/15 | 2026/1/14 | Yes | | Guojin Building Development Co., Ltd. | 5-6th Floor, 10-18th Floor, Block A, National Financial Information Building, No. 22 Lize Road, Fengtai District, Beijing | 3.01 million RMB | 2025/6/3 | 2026/7/31 | Yes | - Leases with Xinhua News Agency Printing Co., Ltd. and Guojin Building Development Co., Ltd. are related party transactions[100](index=100&type=chunk) [XII. Explanation of Progress in Use of Raised Funds](index=45&type=section&id=XII.%20Explanation%20of%20Progress%20in%20Use%20of%20Raised%20Funds) This section details the overall use of the company's initial public offering raised funds and specific fundraising investment projects, including planned total investment, current year's investment, cumulative investment progress, etc. Some fundraising projects have been extended or completed, with surplus funds permanently supplementing working capital. The company also manages idle raised funds for cash. Overall Use of Raised Funds | Source of Raised Funds | Total Raised Funds (10,000 RMB) | Net Raised Funds (10,000 RMB) | Total Committed Investment of Raised Funds in Prospectus or Offering Document (10,000 RMB) | Cumulative Raised Funds Invested as of End of Reporting Period (10,000 RMB) | Cumulative Investment Progress of Raised Funds as of End of Reporting Period (%) | Amount Invested in Current Year (10,000 RMB) | Total Raised Funds with Changed Use (10,000 RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering | 143,719.23 | 137,988.57 | 137,988.57 | 75,283.78 | 54.56 | 4,588.72 | 7,800.00 | - The 'Xinhuanet Online Education Project' and 'Establishment of Xinhuanet Guangdong Co., Ltd., Xinhuanet Sichuan Co., Ltd., and Xinhuanet Jiangsu Co., Ltd.' have been completed, and all remaining raised funds will be used to permanently supplement working capital[109](index=109&type=chunk) - Other fundraising investment projects, such as the 'Xinhuanet Omnimedia Information Application Service Cloud Platform Project,' have been extended until **October 27, 2026**[107](index=107&type=chunk) - The company uses idle raised funds, up to a maximum of **550 million RMB**, for cash management, investing in highly secure principal-protected products such as structured deposits and large-denomination certificates of deposit, with a single product term not exceeding one year[112](index=112&type=chunk) [Section VI Changes in Shares and Shareholder Information](index=52&type=section&id=Section%20VI%20Changes%20in%20Shares%20and%20Shareholder%20Information) This section discloses that the company's share capital remained unchanged during the reporting period, but its total share capital increased after the reporting period due to the implementation of the 2024 annual equity distribution plan, and details the shareholding of the top ten shareholders and top ten unrestricted shareholders as of the end of the reporting period. - During the reporting period, the company's total share capital and share capital structure remained unchanged[115](index=115&type=chunk) - After the reporting period, the company implemented its 2024 annual equity distribution plan, distributing a cash dividend of **1.36 RMB** per **10** shares (tax inclusive) to all shareholders, issuing **2** bonus shares per **10** shares, and converting **1** share per **10** shares from capital reserves, increasing the total share capital to **674,738,168** shares[116](index=116&type=chunk) - After the equity distribution, the diluted earnings per share for the first half of 2025 will be **0.2283 RMB**, and net assets per share will be **5.3724 RMB**[116](index=116&type=chunk) - As of the end of the reporting period, the total number of common shareholders was **46,138**[117](index=117&type=chunk) Shareholding of Top Ten Shareholders as of the End of the Reporting Period | Shareholder Name | Number of Shares Held at Period End (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Xinhua News Agency | 264,679,740 | 51.00 | State-owned Legal Person | | Xinhua News Agency Investment Holdings Co., Ltd. | 27,049,935 | 5.21 | State-owned Legal Person | | Xinhua News Agency Investment Holdings Co., Ltd. - Xinhua News Agency Investment Holdings Co., Ltd. 2023 Non-Public Issuance of Exchangeable Corporate Bonds for Professional Investors Pledge Account | 27,049,935 | 5.21 | State-owned Legal Person | | China Economic Information Service Co., Ltd. | 4,170,800 | 0.80 | State-owned Legal Person | | Guangdong Nanfang Media Group Co., Ltd. | 3,763,228 | 0.73 | State-owned Legal Person | | Jiao Yu | 3,642,105 | 0.70 | Domestic Natural Person | | Anhui Xinhua Media Co., Ltd. | 2,884,590 | 0.56 | State-owned Legal Person | | Hong Kong Securities Clearing Company Limited | 2,792,894 | 0.54 | Other | | Industrial and Commercial Bank of China Co., Ltd. - Oriental Red New Power Flexible Allocation Mixed Securities Investment Fund | 2,179,300 | 0.42 | Other | | China Merchants Bank Co., Ltd. - Southern CSI 1000 Exchange Traded Open-Ended Index Securities Investment Fund | 1,907,373 | 0.37 | Other | [I. Changes in Share Capital](index=52&type=section&id=I.%20Changes%20in%20Share%20Capital) The company's total share capital and share capital structure remained unchanged during the reporting period, but its total share capital increased after the reporting period due to the implementation of the 2024 annual profit distribution plan. - During the reporting period, the company's total share capital and share capital structure remained unchanged[115](index=115&type=chunk) - On **June 18, 2025**, the company convened its 2024 Annual General Meeting of Shareholders and approved the 'Proposal on the Company's 2024 Profit Distribution Plan.' Based on the total share capital registered on the equity distribution record date, the company plans to distribute a cash dividend of **1.36 RMB** per **10** shares (tax inclusive) to all shareholders, totaling **70.59 million RMB** (tax inclusive); concurrently, it will issue **2** bonus shares per **10** shares and convert **1** share per **10** shares from capital reserves to all shareholders, resulting in a total share capital of **674,738,168** shares after this distribution and conversion[116](index=116&type=chunk) [II. Shareholder Information](index=52&type=section&id=II.%20Shareholder%20Information) This section discloses the total number of common shareholders as of the end of the reporting period, along with the shareholding details of the top ten shareholders and top ten unrestricted shareholders, including their shareholding quantity, proportion, share status, and shareholder nature. - As of the end of the reporting period, the total number of common shareholders was **46,138**[117](index=117&type=chunk) Shareholding of Top Ten Shareholders as of the End of the Reporting Period | Shareholder Name | Number of Shares Held at Period End (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Xinhua News Agency | 264,679,740 | 51.00 | State-owned Legal Person | | Xinhua News Agency Investment Holdings Co., Ltd. | 27,049,935 | 5.21 | State-owned Legal Person | | Xinhua News Agency Investment Holdings Co., Ltd. - Xinhua News Agency Investment Holdings Co., Ltd. 2023 Non-Public Issuance of Exchangeable Corporate Bonds for Professional Investors Pledge Account | 27,049,935 | 5.21 | State-owned Legal Person | | China Economic Information Service Co., Ltd. | 4,170,800 | 0.80 | State-owned Legal Person | | Guangdong Nanfang Media Group Co., Ltd. | 3,763,228 | 0.73 | State-owned Legal Person | | Jiao Yu | 3,642,105 | 0.70 | Domestic Natural Person | | Anhui Xinhua Media Co., Ltd. | 2,884,590 | 0.56 | State-owned Legal Person | | Hong Kong Securities Clearing Company Limited | 2,792,894 | 0.54 | Other | | Industrial and Commercial Bank of China Co., Ltd. - Oriental Red New Power Flexible Allocation Mixed Securities Investment Fund | 2,179,300 | 0.42 | Other | | China Merchants Bank Co., Ltd. - Southern CSI 1000 Exchange Traded Open-Ended Index Securities Investment Fund | 1,907,373 | 0.37 | Other | - Xinhua News Agency, Xinhua News Agency Investment Holdings Co., Ltd., Xinhua News Agency Investment Holdings Co., Ltd. - Xinhua News Agency Investment Holdings Co., Ltd. 2023 Non-Public Issuance of Exchangeable Corporate Bonds for Professional Investors Pledge Account, and China Economic Information Service Co., Ltd. are parties acting in concert[121](index=121&type=chunk) [Section VII Bond-Related Information](index=56&type=section&id=Section%20VII%20Bond-Related%20Information) This section states that the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments, nor any convertible corporate bonds, during the reporting period. - The company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments during the reporting period[125](index=125&type=chunk) - The company had no convertible corporate bonds during the reporting period[125](index=125&type=chunk) [Section VIII Financial Report](index=57&type=section&id=Section%20VIII%20Financial%20Report) This core financial section includes the consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes to the financial statement items. These statements and notes provide a comprehensive view of the company's financial position, operating results, and cash flows at the end of the reporting period, explaining accounting policies and estimates. - The financial statements are unaudited[127](index=127&type=chunk) - The consolidated balance sheet shows total assets of **4.90 billion RMB** at period-end, with total equity attributable to parent company owners of **3.62 billion RMB**[128](index=128&type=chunk) - The consolidated income statement shows current period operating revenue of **810.53 million RMB** and net profit attributable to parent company shareholders of **154.06 million RMB**[132](index=132&type=chunk) - The consolidated cash flow statement shows net cash flow from operating activities of **-54.93 million RMB** and net cash flow from investing activities of **-185.91 million RMB**[139](index=139&type=chunk) [I. Audit Report](index=57&type=section&id=I.%20Audit%20Report) This semi-annual report is unaudited. - This semi-annual report is unaudited[127](index=127&type=chunk) [II. Financial Statements](index=57&type=section&id=II.%20Financial%20Statements) This section includes the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, comprehensively presenting the company's financial position and operating results at the end of the reporting period. Consolidated Balance Sheet Summary (June 30, 2025) | Item | Ending Balance (RMB) | Beginning Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 4.90 billion RMB | 5.14 billion RMB | | Total Liabilities | 1.28 billion RMB | 1.64 billion RMB | | Total Equity Attributable to Parent Company Owners | 3.62 billion RMB | 3.49 billion RMB | Consolidated Income Statement Summary (January-June 2025) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 810.53 million RMB | 792.32 million RMB | | Total Profit | 158.21 million RMB | 143.58 million RMB | | Net Profit | 154.06 million RMB | 118.33 million RMB | | Net Profit Attributable to Parent Company Shareholders | 154.06 million RMB | 118.33 million RMB | Consolidated Cash Flow Statement Summary (January-June 2025) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -54.93 million RMB | -112.44 million RMB | | Net Cash Flow from Investing Activities | -185.91 million RMB | -980.70 million RMB | | Net Cash Flow from Financing Activities | -95.81 million RMB | -33.97 million RMB | | Net Increase in Cash and Cash Equivalents | -336.22 million RMB | -1.13 billion RMB | [III. Company Basic Information](index=73&type=section&id=III.%20Company%20Basic%20Information) This section introduces Xinhuanet's establishment background, historical share capital changes, registered address, legal representative, industry, and main businesses, and specifies the approval date of the financial statements. - Xinhuanet Co., Ltd. was jointly invested and established by Xinhua News Agency and China Economic Information Service on **July 4, 2000**[152](index=152&type=chunk) - The company's total share capital, after multiple capital increases and conversions, amounted to **519,029,360.00 RMB** as of **June 30, 2025**[154](index=154&type=chunk)[155](index=155&type=chunk) - The company belongs to the internet information services industry, primarily engaged in omnimedia advertising services, government and enterprise integrated services, digital and intelligent businesses, and cultural and creative services[155](index=155&type=chunk) [IV. Basis for Preparation of Financial Statements](index=73&type=section&id=IV.%20Basis%20for%20Preparation%20of%20Financial%20Statements) This section clarifies that the company's financial statements are prepared on a going concern basis, adhering to the Accounting Standards for Business Enterprises and their application guidelines and interpretations, and disclosing financial information in accordance with relevant CSRC regulations. - The company's financial statements are prepared on a going concern basis, recognizing and measuring transactions and events in accordance with the Accounting Standards for Business Enterprises and their application guidelines and interpretations[156](index=156&type=chunk) - The company assessed its ability to continue as a going concern for **12** months from the end of the reporting period, found no matters affecting its going concern ability, and thus the preparation of financial statements on a going concern basis is reasonable[157](index=157&type=chunk) [V. Significant Accounting Policies and Accounting Estimates](index=74&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Accounting%20Estimates) This section details the significant accounting policies and estimates followed by the company in preparing its financial statements, covering financial instruments, revenue recognition, inventories, long-term equity investments, fixed assets, intangible assets, employee compensation, provisions, government grants, deferred income tax, and other aspects, explaining materiality standards and changes in accounting estimates. - The financial statements prepared by the company comply with the requirements of the Accounting Standards for Business Enterprises, accurately and completely reflecting the company's financial position, operating results, changes in shareholders' equity, and cash flows[159](index=159&type=chunk) - Financial assets are measured at fair value upon initial recognition and classified as financial assets measured at amortized cost, at fair value through profit or loss, or at fair value through other comprehensive income, based on the business model for managing the financial assets and their contractual cash flow characteristics[184](index=184&type=chunk) - The company recognizes revenue when it satisfies a performance obligation in a contract, which is when the customer obtains control of the related goods[238](index=238&type=chunk) - Long-term equity investments over which the company can exercise control are accounted for using the cost method; long-term equity investments in associates and joint ventures are accounted for using the equity method[217](index=217&type=chunk) - Government grants are recognized when both the conditions attached to the grant are met and the grant is received, and are accounted for as either asset-related or income-related[246](index=246&type=chunk) [VI. Taxation](index=101&type=section&id=VI.%20Taxation) This section lists the company's main tax categories and rates, and details the corporate income tax, cultural construction fee, and other tax preferential policies enjoyed by the company and its subsidiaries. Major Tax Categories and Rates | Tax Category | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable Income | 6%, 9%, 13% | | Cultural Construction Fee | Taxable Income | 3% | | Urban Maintenance and Construction Tax | Actual Turnover Tax Paid | 5%, 7% | | Education Surcharge | Actual Turnover Tax Paid | 3% | - The company enjoys a corporate income tax exemption policy for operational cultural institutions converted into enterprises until **December 31, 2027**[102](index=102&type=chunk) - Subsidiaries Xinhuanet Sichuan Co., Ltd., Xinhuanet Guangdong Co., Ltd., Xinhuanet (Beijing) Technology Co., Ltd., and Xinhuanet Xuanwen (Beijing) Mobile Media Technology Co., Ltd. qualify as high-tech enterprises and are subject to corporate income tax at a **15%** rate[102](index=102&type=chunk) - The company and its domestic subsidiaries enjoy a **50%** reduction in cultural construction fees[102](index=102&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=102&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes and explanations for various assets, liabilities, owners' equity, income, and expense items in the consolidated financial statements, including ending balances, beginning balances, current period changes, accounting methods, and reasons for formation, offering specific details on financial data composition and changes. - The ending balance of monetary funds is **2.02 billion RMB**, of which **17.15 million RMB** is deposited overseas, and fixed deposits with a clear intention to hold to maturity amount to **300 million RMB**[275](index=275&type=chunk) - The ending balance of trading financial assets is **187.82 million RMB**, primarily including structured deposits, equity instrument investments (New Third Board Huaqiang Fantawild shares), and hybrid instrument investments (convertible corporate bonds)[276](index=276&type=chunk)[277](index=277&type=chunk) - The ending book balance of accounts receivable is **893.56 million RMB**, with bad debt provisions of **474.94 million RMB**[286](index=286&type=chunk) - The ending book value of long-term equity investments is **350.97 million RMB**, primarily including investments in joint venture Xinhuanet Zhuyun and associates Xincai Huazhang and Jiangsu Ruide[335](index=335&type=chunk) - The ending balance of employee compensation payable is **68.34 million RMB**, a **56.09%** decrease from the beginning of the period, primarily due to the company's payment of last year's performance bonuses during the reporting period[379](index=379&type=chunk) - Current period operating revenue amounted to **810.53 million RMB**, and operating costs were **485.17 million RMB**[411](index=411&type=chunk) - Current period investment income was **-11.37 million RMB**, primarily affected by income from long-term equity investments accounted for using the equity method and income from the disposal of trading financial liabilities[419](index=419&type=chunk) [VIII. Research and Development Expenses](index=160&type=section&id=VIII.%20Research%20and%20Development%20Expenses) This section lists the composition of the company's research and development expenses by nature of expense for the reporting period, including employee compensation, website construction fees, depreciation and amortization, etc., with total R&D expenses of 38,515,789.18 yuan, all expensed. Research and Development Expenses by Nature of Expense | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Employee Compensation | 24.43 million RMB | 22.14 million RMB | | Website Construction Fees | 5.33 million RMB | 9.75 million RMB | | Depreciation and Amortization | 6.31 million RMB | 3.04 million RMB | | Lease Fees | 1.92 million RMB | 4.00 million RMB | | Property Management Fees | 0.26 million RMB | 0.24 million RMB | | Office Expenses | 0.10 million RMB | 0.12 million RMB | | Travel Expenses | 0.07 million RMB | 0.19 million RMB | | Other | 0.09 million RMB | - | | **Total** | **38.52 million RMB** | **39.49 million RMB** | - All research and development expenses for the current period were expensed, with no capitalized R&D expenses[449](index=449&type=chunk) [IX. Changes in Consolidation Scope](index=161&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) During the reporting period, the company had no non-same-control business combinations, same-control business combinations, reverse acquisitions, or disposals of subsidiaries leading to loss of control, nor any other reasons for changes in the consolidation scope. - During the reporting period, the company had no non-same-control business combinations, same-control business combinations, reverse acquisitions, or disposals of subsidiaries leading to loss of control[450](index=450&type=chunk)[451](index=451&type=chunk) [X. Interests in Other Entities](index=162&type=section&id=X.%20Interests%20in%20Other%20Entities) This section discloses the company's interests in subsidiaries, joint ventures, and associates, including the composition of the enterprise group, key financial information of significant joint ventures, and aggregated financial information of insignificant joint ventures and associates. - The company owns **11** wholly-owned subsidiaries, including Xinhuanet Co., Ltd. Europe, Xinhuanet Yilian (Beijing) Technology Co., Ltd., and Xinhuanet Sichuan Co., Ltd[453](index=453&type=chunk) - The significant joint venture is Xinhuanet Zhuyun, in which the company holds a **51.00%** stake and accounts for it using the equity method[456](index=456&type=chunk) Xinhuanet Zhuyun Key Financial Information Summary (June 30, 2025) | Item | Ending Balance (RMB) | Beginning Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 444.70 million RMB | 512.26 million RMB | | Total Liabilities | 74.74 million RMB | 120.24 million RMB | | Equity Attributable to Parent Company Shareholders | 396.96 million RMB | 392.02 million RMB | | Operating Revenue | 34.34 million RMB | 47.20 million RMB | | Net Profit | -22.06 million RMB | -26.72 million RMB | - The total book value of investments in insignificant associates is **20.64 million RMB**, with a total net loss of **-4.09 million RMB** for the current period[458](index=458&type=chunk) [XI. Government Grants](index=167&type=section&id=XI.%20Government%20Grants) This section discloses the company's government grant-related liability items and the amount of government grants recognized in profit or loss for the reporting period, with major grant projects including key website construction projects and omnimedia product digital processing cloud platforms, which are asset-related or income-related. Liability Items Involving Government Grants (June 30, 2025) | Financial Statement Item | Beginning Balance (RMB) | Transferred to Other Income in Current Period (RMB) | Ending Balance (RMB) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | | Key Website Construction Project | 82.35 million RMB | 15.54 million RMB | 66.82 million RMB | Asset/Income Related | | Omnimedia Product Digital Processing Cloud Platform | 23.64 million RMB | 4.02 million RMB | 19.63 million RMB | Asset Related | | Cultural Industry Development Special Fund | 5.41 million RMB | 2.40 million RMB | 3.01 million RMB | Asset Related | | Science and Technology Innovation Center Construction Publicity Fund | 1.60 million RMB | - | 1.60 million RMB | Asset Related | | Media Creative Workshop Project | 0.92 million RMB | 0.25 million RMB | 0.67 million RMB | Asset Related | | Asia-Pacific Regional Cooperation Special Fund | 0.24 million RMB | 0.06 million RMB | 0.18 million RMB | Asset Related | | "Flowing Earth" Science Popularization Platform | 0.17 million RMB | 0.05 million RMB | 0.12 million RMB | Asset Related | | Other Projects | 5.90 million RMB | 0.98 million RMB | 4.92 million RMB | Asset/Income Related | | **Total** | **120.22 million RMB** | **23.29 million RMB** | **96.93 million RMB** | / | - Total government grants recognized in current period profit or loss amounted to **23.84 million RMB**, of which **23.29 million RMB** was asset-related and **0.55 million RMB** was income-related[464](index=464&type=chunk) [XII. Risks Related to Financial Instruments](index=169&type=section&id=XII.%20Risks%20Related%20to%20Financial%20Instruments) This section explains the financial instrument-related risks faced by the company, primarily including credit risk, liquidity risk, and market risk (foreign exchange risk and interest rate risk), and describes the company's management objectives and policies for these risks. - The financial instrument-related risks faced by the company arise from various financial assets and liabilities recognized in its operations, including: credit risk, liquidity risk, and market risk[464](index=464&type=chunk) - Credit risk primarily arises from monetary funds, notes receivable, accounts receivable, financing for receivables, other receivables, contract assets, and long-term receivables, which the company controls by assessing customer creditworthiness and regularly monitoring credit records[465](index=465&type=chunk) - Liquidity risk is managed by maintaining and monitoring cash and cash equivalents deemed sufficient by management[471](index=471&type=chunk) - Foreign exchange risk primarily arises from foreign currency assets and liabilities held by the company and its subsidiaries that are not denominated in their functional currency, mainly related to Hong Kong Dollar, US Dollar, and Euro[472](index=472&type=chunk) [XIII. Disclosure of Fair Value](index=171&type=section&id=XIII.%20Disclosure%20of%20Fair%20Value) This section discloses the fair value of the company's assets and liabilities measured at fair value at the end of the period, categorized into three levels based on the input values used for fair value measurement. Fair Value of Assets Measured at Fair Value at Period End | Item | Level 1 Fair Value Measurement (RMB) | Level 3 Fair Value Measurement (RMB) | Total (RMB) | | :--- | :--- | :--- | :--- | | **I. Recurring Fair Value Measurement** | **187.48 million RMB** | **81.71 million RMB** | **269.19 million RMB** | | (I) Trading Financial Assets | 157.72 million RMB | 30.10 million RMB | 187.82 million RMB | | (1) Equity Instrument Investments | 47.58 million RMB | - | 47.58 million RMB | | (2) Hybrid Instrument Investments | - | 30.10 million RMB | 30.10 million RMB | | (3) Structured Deposits | 110.14 million RMB | - | 110.14 million RMB | | (III) Other Equity Instrument Investments | 29.76 million RMB | 4.74 million RMB | 34.50 million RMB | | (IV) Other Non-Current Financial Assets | - | 46.87 million RMB | 46.87 million RMB | - The company uses the closing price on the securities exchange at the balance sheet date as the basis for determining the fair value of listed trading financial asset Huaqiang Fantawild (New Third Board)[477](index=477&type=chunk) - Level 3 fair value measurement items are equity investments in unlisted companies and shares held in limited partnerships, for which there is no active market trading; the company uses valuation techniques, primarily discounted cash flow method or asset-based approach, to determine their fair value[478](index=478&type=chunk) [XIV. Related Parties and Related Party Transactions](index=173&type=section&id=XIV.%20Related%20Parties%20and%20Related%20Party%20Transactions) This section details the company's parent company, subsidiaries, joint ventures, associates, and other related parties, and lists specific information on purchases and sales of goods/acceptance of services, sales of goods/provision of services, related party leases, and outstanding receivables/payables with related parties during the reporting period. - The ultimate controlling party of the company is Xinhua News Agency, with a shareholding ratio of **51.00%**[481](index=481&type=chunk) - The company has transactions involving purchases and sales of goods, and provision and acceptance of services with multiple related parties, including Economic Information Daily Co., Ltd., Xinhua Publishing House Co., Ltd., Xinhua News Agency News Information Center, and China Economic Information Service Co., Ltd[485](index=485&type=chunk)[486](index=486&type=chunk)[487](index=487&type=chunk)[488](index=488&type=chunk) - As a lessee, the company leases properties from Xinhua News Agency Printing Co., Ltd. and Guojin Building Development Co., Ltd[492](index=492&type=chunk) - Total receivables from related parties at period-end amounted to **1.04 billion RMB**, primarily including long-term receivables from Xinhua News Agency News Information Center and other non-current assets from Guojin Building Development Co., Ltd[498](index=498&type=chunk)[499](index=499&type=chunk) - Total payables to related parties at period-end amounted to **44.43 million RMB**, primarily including accounts payable to Xinhuanet Zhuyun Technology Co., Ltd., China Economic Information Service Co., Ltd., and China News Development Co., Ltd[501](index=501&type=chunk)[502](index=502&type=chunk) [XVI. Commitments and Contingencies](index=183&type=section&id=XVI.%20Commitments%20and%20Contingencies) This section discloses significant commitments existing at the balance sheet date, including a deferred capital contribution agreement for Jiangsu Ruide, and several important contingencies such as pending lawsuits. - The company's wholly-owned subsidiary Yilian Technology and Jiangsu Ruide have signed a deferred capital contribution agreement, extending the deadline for the unpaid **7 million RMB** investment to **February 28, 2026**[504](index=504&type=chunk) - The company is involved in multiple pending lawsuits, including contract disputes or construction project contract disputes with Shenzhen InfiNet Renyong Information Co., Ltd., Jiahe Co., Ltd., Baoding Huarang Decoration Engineering Co., Ltd., Beijing Xingyun Huanying Technology Co., Ltd., and Fujian Baorong Technology Co., Ltd[505](index=505&type=chunk)[506](index=506&type=chunk)[507](index=507&type=chunk)[508](index=508&type=chunk) [XVII. Events After the Balance Sheet Date](index=184&type=section&id=XVII.%20Events%20After%20the%20Balance%20Sheet%20Date) This section discloses the profit distribution situation that occurred between the balance sheet date and the approval date of the financial statements, specifically that the 2024 annual profit distribution plan has been approved by the shareholders' meeting and implemented. - On **April 24, 2025**, the company convened the 13th meeting of the Fifth Board of Directors, approving the 2024 annual profit distribution proposal; on **June 18, 2025**, the 2024 annual profit distribution plan was approved by the annual general meeting of shareholders, distributing a cash dividend of **1.36 RMB** per **10** shares (tax inclusive) to all shareholders, totaling **70.59 million RMB** (tax inclusive); concurrently, it will issue **2** bonus shares per **10** shares and convert **1** share per **10** shares from capital reserves to all shareholders, resulting in a total share capital of **674,738,168** shares after this distribution and conversion[510](index=510&type=chunk) - The equity distribution record date is **July 24, 2025**, and the ex-dividend (ex-interest) date is **July 25, 2025**[510](index=510&type=chunk) [XVIII. Other Significant Matters](index=185&type=section&id=XVIII.%20Other%20Significant%20Matters) This section discloses that the company has no reportable segments and explains the compensation obligation for the Pingzhi Information private placement investment income. - The company does not have multiple operating segments with different economic characteristics; therefore, there is no segment information to disclose based on operating segments[512](index=512&type=chunk) - In **2019**, the company signed an 'Agreement' with relevant shareholders of Pingzhi Information, stipulating the oblig
新华网(603888) - 新华网股份有限公司信息披露暂缓与豁免管理制度
2025-08-27 12:10
新华网股份有限公司 信息披露暂缓与豁免管理制度 第一条 为了规范新华网股份有限公司(以下简称"公 司"或"本公司")信息披露暂缓与豁免行为,督促公司依 法合规履行信息披露义务,根据《中华人民共和国证券法》 (以下简称"《证券法》")、《上海证券交易所股票上市 规则》(以下简称"《股票上市规则》")、《上海证券交 易所上市公司自律监管指引第2号——信息披露事务管理》 《新华网股份有限公司章程》(以下简称"《公司章程》")、 《新华网股份有限公司信息披露管理制度》(以下简称"《公 司信息披露管理制度》")等规定,制定本制度。 第二条 信息披露义务人暂缓、豁免披露信息的,应当 遵守法律、行政法规和中国证监会的规定。 本公司按照《股票上市规则》及上海证券交易所其他相 关业务规则的规定,办理信息披露暂缓、豁免业务的,适用 本制度。 第三条 本公司及相关信息披露义务人拟披露的信息被 依法认定为国家秘密,按照《股票上市规则》披露或者履行 相关义务可能导致其违反法律法规或者危害国家安全的,可 以豁免披露。 第四条 本公司及相关信息披露义务人拟披露的信息属 于商业秘密或者保密商务信息,符合下列情形之一,且尚未 公开或者泄露的, ...
新华网:上半年净利润同比增长30.2%
Ge Long Hui A P P· 2025-08-27 12:09
Group 1 - The company reported a revenue of 811 million yuan for the first half of 2025, representing a year-on-year growth of 2.30% [1] - The net profit attributable to shareholders of the listed company was 154 million yuan, showing a year-on-year increase of 30.20% [1] - The company announced that it would not distribute profits or increase share capital from capital reserves during this reporting period [1]