1月4日下午，男演员李明德发博称电视剧《三人行》剧组搞区别对待，#李明德 马天宇##李明德评论## 李明德 娱乐圈爆料#等多个相关话题冲上热搜，引发网友关注。 李明德发文向电视剧《三人行》剧组提出疑问："为什么全组围读的时候，某位男一号不在，那既然是 全组围读，为什么他可以搞特殊？为什么现场走戏的时候，他可以迟到四十分钟？零下十七度的长春， 我穿着单衣在现场等他，来了之后剧本的词说的驴唇不对马嘴，请问我要如何表演？" 李明德连发多条微博，并在评论区和网友对线。有网友留言："既然如此，退圈吧，既然在这里待着这 么不痛快的话。"李明德："正有此意，我觉得种种地挺好的，然后直播带货，流程我都熟。" 另据中新文娱消息，电视剧《三人行》2024年12月29日开机，当天主演齐聚一堂。据片方给出的介绍， 马天宇是男一号。 1月5日凌晨，马天宇工作室发布严正声明。声明表示，马天宇自进组起，始终保持对此次合作的真诚期 待，按照剧组通告时间准时到达现场，从未因其个人原因导致其他演员在现场等待。在1月2日第一场 戏、1月3日最后一场戏其他演员两次无故离开现场的情况下，出于对合作演员私人生活的尊重以及对可 能出现的偶发特殊状况的理解 ...

Financial Performance - Revenue for the third quarter was RMB 1,172,448,183.16, a decrease of 30.71% year-over-year[2] - Net profit attributable to shareholders of the listed company for the third quarter was RMB 51,547,347.95, a decrease of 49.56% year-over-year[2] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses for the third quarter was RMB 40,283,810.80, a decrease of 60.05% year-over-year[2] - Revenue for the first three quarters of 2024 was RMB 3,084.63 million, a year-on-year decrease of 20.61%[14] - Net profit attributable to shareholders for the first three quarters of 2024 was RMB 181.66 million, a year-on-year decrease of 43.15%[14] - Total operating revenue for the first three quarters of 2024 was RMB 3,084,629,909.71, a decrease of 20.6% compared to RMB 3,885,529,394.72 in the same period of 2023[22] - Operating costs for the first three quarters of 2024 were RMB 2,544,188,370.01, down 19.7% from RMB 3,167,388,400.48 in the same period of 2023[22] - Net profit for the first three quarters of 2024 was RMB 181,904,873.00, a 43.1% decrease from RMB 319,637,144.72 in the same period of 2023[24] - Basic earnings per share for the first three quarters of 2024 were RMB 1.03, compared to RMB 2.74 in the same period of 2023[26] - The decrease in revenue was mainly due to reduced advertising spending by some automotive and fast-moving consumer goods (FMCG) industry clients[7] - The decrease in net profit was primarily due to a decline in gross profit caused by the decrease in revenue[7] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 4,714,628,785.79, a decrease of 3.86% compared to the end of the previous year[3] - Equity attributable to shareholders of the listed company as of the end of the reporting period was RMB 2,790,106,973.69, a decrease of 4.30% compared to the end of the previous year[3] - As of September 30, 2024, the company's monetary funds were RMB 329,312,842.93, a decrease from RMB 905,449,919.13 at the end of 2023[19] - The company's accounts receivable increased to RMB 2,653,539,482.49 as of September 30, 2024, compared to RMB 2,381,877,700.99 at the end of 2023[19] - The company's total assets were RMB 4,714,628,785.79 as of September 30, 2024, a decrease from RMB 4,904,028,193.35 at the end of 2023[19] - The company's total liabilities were RMB 1,901,806,164.53 as of September 30, 2024, a decrease from RMB 1,980,825,378.83 at the end of 2023[20] - The company's total equity attributable to the parent company was RMB 2,790,106,973.69 as of September 30, 2024, a decrease from RMB 2,915,395,566.28 at the end of 2023[21] - The company's short-term borrowings were RMB 507,992,880.37 as of September 30, 2024, a decrease from RMB 581,839,359.21 at the end of 2023[20] - The company's long-term borrowings were RMB 72,250,000.00 as of September 30, 2024, a decrease from RMB 110,750,000.00 at the end of 2023[20] Earnings and Shareholder Metrics - Basic earnings per share for the third quarter were RMB 0.24, a decrease of 65.71% year-over-year[3] - Diluted earnings per share for the third quarter were RMB 0.24, a decrease of 65.71% year-over-year[3] - Weighted average return on equity for the third quarter was 1.85%, a decrease of 2.04 percentage points year-over-year[3] - The company's top 10 shareholders include Hong Kong Securities Clearing Company, National Social Security Fund 118, and Liu Guozhen, among others[10][11][12] - The company repurchased 257,300 shares, accounting for 0.12% of the total share capital, with a total payment of RMB 6,530,624.55[17] Cash Flow - Operating cash flow for the first three quarters of 2024 improved by RMB 358.95 million compared to the same period last year, reaching RMB -189.33 million[14] - Cash flow from operating activities for the first three quarters of 2024 was negative RMB 189,328,193.02, an improvement from negative RMB 548,273,651.84 in the same period of 2023[27] - Cash received from sales of goods and services for the first three quarters of 2024 was RMB 2,798,929,747.51, a 21.3% decrease from RMB 3,555,565,649.49 in the same period of 2023[27] - Cash paid for goods and services for the first three quarters of 2024 was RMB 2,624,245,375.91, a 29.0% decrease from RMB 3,698,395,181.85 in the same period of 2023[27] - Cash received from investments for the first three quarters of 2024 was RMB 617,645,772.43, a 341.2% increase from RMB 140,000,000.00 in the same period of 2023[27] - Cash paid for investments for the first three quarters of 2024 was RMB 599,482,000.00, a 344.1% increase from RMB 135,000,000.00 in the same period of 2023[27] - Investment activities cash outflow totaled 606,526,149.57, a significant increase from 159,481,501.39 in the previous period[28] - Net cash flow from investment activities was 15,295,397.70, compared to -13,740,377.05 previously[28] - Cash received from financing activities was 777,324,479.38, down from 861,841,333.28[28] - Cash outflow from financing activities increased to 1,195,462,694.24 from 685,403,320.91[28] - Net cash flow from financing activities was -418,138,214.86, a decline from 176,438,012.37[28] - Net increase in cash and cash equivalents was -587,568,246.89, compared to -385,576,016.52 previously[28] - Ending cash and cash equivalents balance was 233,443,300.57, down from 821,011,547.46 at the beginning of the period[28] Strategic Investments and Innovations - The company served major clients such as Yili, China Mobile, JD.com, and FAW Toyota for advertising and brand communication services[15] - The company invested in advanced equipment manufacturing industry funds and successfully listed Changzhou Ruihua Chemical Engineering Technology Co., Ltd. on the Beijing Stock Exchange[15] - The company's strategic investment in China Resources Beverage (Holdings) Co., Ltd. was successfully listed on the Hong Kong Stock Exchange[15] - The company's subsidiary, Shaanxi Huaying Zhonghang Aviation Technology Co., Ltd., successfully completed the first flight of its large multi-functional fixed-wing drone HE-1[15] - The company partnered with Hopson Development Holdings Limited to operate sports lottery and welfare lottery sales at Beijing Super Hopson Mall[15] - The company leveraged iFlytek's Spark Large Model 3.0 and its 20 years of marketing experience to launch innovative marketing solutions[15] - The company launched a multimodal AI product "One" AI in the marketing field, further expanding marketing boundaries with AI technology[16] - The company established a wholly-owned subsidiary, Guizhou Sanrenxing Data Element Intelligent Technology Co., Ltd., in Guiyang to transition from traditional digital media procurement to comprehensive digital technology services[16] R&D and Accounting - R&D expenses for the first three quarters of 2024 were RMB 37,821,998.28, a 2.8% increase from RMB 36,781,821.62 in the same period of 2023[24] - The company did not apply new accounting standards or interpretations in 2024[29]

%% %% 丨证券研究报告丨 公司研究丨点评报告丨三人行（605168.SH） [Table_Title] 汽车客户投放减少拖累业绩，积极探索业务 边界 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------|-------| | 报告要点 | | | [Table_Summary] 公司公布 2024 半年报： 2024 年上半年实现营业收入 19.12 | | | 属于母公司净利润为 1.30 亿元，同比下滑 40.13% ；其中 同比下降 22.71% ，实现归属于母公司净利润 0.81 亿，同比上升 | | | 场，同时积极拓展业务边界，我们看好公司未来业绩释放。 | | 分析师及联系人 [Table_Author] 高超 SAC：S0490516080001 SFC：BUX177 请阅读最后评级说明和重要声明 三人行（605168.SH） cjzqdt11111 2024-09 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 27.24 [1][2] Core Views - The company's performance in H1 2024 was under pressure due to weak external conditions, with revenue declining by 12.82% YoY to RMB 1.912 billion and net profit attributable to the parent company dropping by 40.13% YoY to RMB 130 million [4] - The company has actively responded to market changes, strengthened internal management, and improved financial quality, with the debt-to-asset ratio decreasing from 40.39% to 38.09% [6] - The company focuses on its core business, continuously improving professional capabilities and competitiveness, serving major clients such as Yili, China Mobile, and JD.com [7] Financial Performance - In H1 2024, the company's revenue decreased by approximately 13% YoY, mainly due to weak external conditions and tightened marketing budgets from advertisers [5] - The comprehensive gross margin in H1 2024 was 19.08%, a decrease of 2.13 percentage points YoY, primarily due to rigid costs despite declining revenue [5] - The company's operating cash flow improved significantly, with a net cash flow from operating activities of RMB -140 million, an increase of RMB 258 million compared to H1 2023 [6] Business Strategy - The company has adjusted its business strategy to adapt to market changes, focusing on core business areas and enhancing integration and synergy capabilities [7] - It has optimized resource allocation, deepened its presence in existing markets, and expanded into new markets, successfully executing advertising and brand communication services for major clients [7] Valuation and Forecast - The report adjusts the company's net profit forecast for 2024-2026 to RMB 483 million, RMB 575 million, and RMB 636 million, respectively, due to weaker-than-expected performance [4] - The company's 2024E PE ratio is set at 12X, reflecting a discount compared to the industry average of 21X, considering uncertainties in investment income realization [4] Industry Comparison - The average PE ratio for comparable companies in 2024 is 21X, with the company's valuation set at a discount due to its performance and investment income uncertainties [4][11]

2024 年半年度报告 公司代码：605168 公司简称：三人行 三人行传媒集团股份有限公司 2024 年半年度报告 1 / 186 2024 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人钱俊冬、主管会计工作负责人陈胜及会计机构负责人（会计主管人员）蒋运常声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告涉及未来计划等前瞻性陈述，该等陈述不构成公司对投资者的实质承诺，请投资者注意投 资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 报告期内，不存在对公司生产经营产生实质性影响的重大风险。 ...

本次电话会议仅面向国金证券的专业投资机构客户或受邀客户仅供交流研究观点专家发言内容仅代表其个人观点会议内容并不构成对任何人的投资建议未经国金证券事先书面许可任何机构或个人严禁以任何形式将会议内容和相关信息对外公布、转发、转载、传播、复制、编辑、修改、解读等 涉嫌违反上述情形的我们将保留一切法律权利感谢您的理解和支持谢谢各位投资者大家晚上好我是国军策略分析师庄实那今天晚上很高兴欢迎各位投资者一起参加我们的策略问道那今天我们很有幸邀请到另外两位做广嘉宾一个是有色的首席李超老师一个是我们的宏观首席陈达飞老师 那我们今天我们一起去探讨一下黄金的一些这个趋势机会那首先我们大家也看到近期黄金波动比较大呀然后我们想首先问一下这个李桥老师 那近期这个黄金波动比较大呢这个产生的原因是有哪些对吧我们也看到像央行这些有暂停这个增值这个黄金包括像欧洲这边的一些这个预期可能有偏差等等我们这边想要进一步去了解到底有哪些因素造成了这样的一个情况李老师好的好的谢谢张老师 我觉得就是从这个看最近的这个波动的话我觉得可能需要把这个整个这个黄金波动的这个时间可能再往前推一个月时间点就刚好比如说来到了这个上次比如说这个金价刚好也是跌到这个最近这个水 ...

尊敬的各位投资者大家好非常感谢各位参加三人行2023年度及2024年第一季度业绩说明会我是三人行公司董事会秘书李达这次向大家就我们公司2023年度及2024年第一季度业绩经济情况做下说明和介绍 首先来看一下公司在2023年所面临的宏观环境2023年度全社会坚持稳中求进的工作总基调可行业总体呈现回升向好的态势从广告行业的格局来看互联网广告投放绝大部分行业呈现高速增长头部行业依旧是核心投放来源 随着营销流量的坚定传统互联网广告走向了存量竞争阶段如何通过创新技术提供更有价值的信息与服务成为企业实现高质量经营增长的关键所在同时广告主更加强调将本增效想更强转化更为高效的场景便宜AI技术的发展也进一步推动了行业整体的创新和转型AI赋能业务模式成为新的发展趋势三人行在此环境中继续坚持以市场为导向 充分发挥公司资源优势 灵活调整经营策略 体制增强谋求高质量发展 专注为客户提供优质服务坚持专业导向持续努力提升服务质量 同时积极拓展前沿技术应用以开放兼取的心态 拥抱新时代的营销趋势布局和应用人工智能技术 推出营销领域多模式AI产品 并充分发挥资源禀赋围绕新制生产力核心要素持续开拓新客户需求新行业领域新业务方向布局新赛道寻求战略行 ...

尊敬的各位投资者大家好非常感谢各位参加三星2023年度及2024年第一季度业绩说明会我是三星公司董事会秘书李达这次向大家就我们公司2023年度及2024年第一季度业绩经济情况做下说明和介绍 首先来看一下公司在2023年所面临的宏观环境。2023年度,全社会坚持稳中求进的工作总基调,可行业总体呈现回升向好的态势。从广告行业的格局来看,互联网广告投放绝大部分行业呈现高速成长,投布行业依旧是核心投放来源。 随着营销流量的鉴定,传统互联网广告走向了存量竞争阶段,如何通过创新技术提供更有价值的信息与服务,成为企业实现高质量经营增长的关键所在。同时,广告主更加强调加本增效,向更强转化、更为高效的场景便宜,AI技术的发展也进一步推动了行业整体的创新和转型。 RF能业务模式成为新的发展趋势三人行在此环境中继续坚持以市场为导向充分发挥公司资源优势灵活调整经营策略体制增强谋求高质量发展专注为客户提供优质服务坚持专业导向持续努力提升服务质量同时积极拓展前沿技术应用以开放进取的心态云爆新时代的营销趋势布局和应用人工智能技术推出营销领域多模式AI产品 并充分发挥资源秉赋围绕新制生产力核心要素持续开拓新客户需求新行业领域新业务方向布局新 ...

本公司具有中国证监会核准的证券投资咨询业务资格。 本报告中的信息均来源于公开资料，本公司对这些信息的准确性和完整性不作任何保证。报告中的内容和意见仅反映本公司 于发布本报告当日的判断，不保证所包含的内容和意见不发生变化。 本报告仅供参考，并不构成对所述证券买卖的出价或征价。在任何情况下，本报告中的信息或所表述的意见均不构成对任何 人的证券买卖建议。本公司及其雇员不承诺投资者一定获利，不与投资者分享投资收益，在任何情况下，我公司及其雇员对 任何人使用本报告及其内容所引发的任何直接或间接损失概不负责。 本公司或其关联机构可能会持有本报告中涉及到的公司所发行的证券头寸并进行交易，并在法律许可的情况下不进行披露； 可能为这些公司提供或争取提供投资银行业务、财务顾问等相关服务。 本报告版权归本公司所有。未经本公司书面许可，任何机构和个人不得以任何形式翻版、复制、发表或引用。如征得本公司 同意进行引用、刊发的，须在本公司允许的范围内使用，并注明本报告的发布人和发布日期，提示使用本报告的风险。 若本公司客户（以下称"该客户"）向第三方发送本报告，则由该客户独自为此发送行为负责。提醒通过此途径获得本报告的 投资者注意，本公司 ...

丨证券研究报告丨 公司研究丨点评报告丨三人行（605168.SH） [Table_Title] 持续推进广告业务，运用前沿技术拓展业务边界 | --- | --- | |--------------------------------------------------------------------------------------------------------------------------|-------| | | | | 报告要点 | | | [Table_Summary] 公司发布 2023 年报及 2024Q1 季报： 2023 年实现营业收入 52.84 亿元，同比下滑 6.54% ；实 | | | 现归属于母公司净利润为 5.28 亿元，同比下滑 28.36% ，主要是快消品及互联网行业客户部分 | | | 业务减少所致； 2024Q1 实现营业收入 9.36 亿元，同比上升 0.6% ，实现归属于母公司净利润 | | | 0.49 亿，同比下滑 65.53% ，高利润率大项目推进延迟为主要因素。公司持续发力广告市场， | | | 同时积极拓展业务边界，我们看好公司未来业绩释放 ...