证券代码：000681 证券简称：视觉中国 公告编号：2024-024 视觉（中国）文化发展股份有限公司 关于股份回购进展情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 视觉（中国）文化发展股份有限公司（以下简称"公司"）于 2023 年 8 月 31 日召开的第十届董事会第十次会议，审议通过了《关于回购公司股份方案的 议案》，同意公司使用自有或自筹资金以集中竞价交易方式回购部分公司已在境 内发行的人民币普通股（A 股）股票，用于实施员工持股计划或股权激励。本次 回购金额不低于人民币 3,500 万元（含本数）不超过 7,000 万元（含本数），回 购价格不超过人民币 25.75 元/股（含本数），回购股份实施期限为自股东大会审 议通过本回购方案之日起 12 个月内。2023 年 9 月 18 日，上述议案已经公司 2023 年第二次临时股东大会审议通过。 具体内容详见公司分别于 2023 年 9 月 1 日、9 月 19 日披露于巨潮资讯网 （www.cninfo.com.cn）、《中国证券报》《上海证券报》及《证券日报》的《视 觉中国：第十届董 ...

证券代码：000681 证券简称：视觉中国 公告编号：2024-023 视觉（中国）文化发展股份有限公司 关于股东部分股份质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 三、备查文件 视觉（中国）文化发展股份有限公司（以下简称"公司"或"本公司"）于近日 收到股东吴玉瑞女士的通知，获悉吴玉瑞女士所持本公司部分股份被质押，依据 《深圳证券交易所股票上市规则》《上市公司信息披露管理办法》及《公司章程》 要求，对具体事项公告如下： 一、股东股份质押的基本情况 | | 是否为控 | | | | | 是否 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股股东或 | 本次质押 | 占其所持 | 占公司 | 是否 | 为补 | 质押起始 | 质押到期 | | 名称 | 第一大股 | 股份数量 | 股份比例 | 总股本 | 为限 | 充质 | 日 | 日 | | | 东及其一 | （万股） | | 比例 | 售股 | 押 | | | | | 致行动人 | | | | | | ...

证券代码：000681 证券简称：视觉中国 公告编号：2024-022 视觉（中国）文化发展股份有限公司 关于股东部分股份质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 视觉（中国）文化发展股份有限公司（以下简称"公司"或"本公司"）于近日 收到股东廖道训先生的通知，获悉廖道训先生所持本公司部分股份被质押，依据 《深圳证券交易所股票上市规则》《上市公司信息披露管理办法》及《公司章程》 要求，对具体事项公告如下： 一、股东股份质押的基本情况 | | 是否为控 | | | | | 是否 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股股东或 | 本次质押 | 占其所持 | 占公司 | 是否 | 为补 | 质押起始 | 质押到期 | | | 质押 | | 名称 | 第一大股 | 股份数量 | 股份比例 | 总股本 | 为限 | 充质 | 日 | 日 | | 质权人 | 用途 | | | 东及其一 | （万股） | | ...

证券代码：000681 证券简称：视觉中国 公告编号：2024-021 视觉（中国）文化发展股份有限公司 关于举行2023年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 视觉（中国）文化发展股份有限公司（以下简称"公司"）将于2024年5月17日 举行2023年度网上业绩说明会，就公司2023年年度报告内容及经营业绩、发展规 划等事项与广大投资者进行沟通交流，现将有关事项公告如下： 一、业绩说明会的召开时间及方式 1、召开时间：2024年5月17日（星期五）15:00-16:00 2、召开方式："互动易"平台网络远程的方式 3、线上参会方式：广大投资者可以登录深圳证券交易所"互动易"平台 （http://irm.cninfo.com.cn）"云访谈"栏目或扫描二维码进入公司2023年度网上业 绩说明会页面进行交流。 二○二四年五月十日 董 事 会 视觉（中国）文化发展股份有限公司 二、公司出席人员 出席本次2023年度网上业绩说明会的人员有：公司董事、总裁柴继军先生， 独立董事潘帅女士，副总裁、财务负责人陈春柳女士，董事会秘书李淼先生 ...

＃assAuthor＃ 证券研究报告 ＃industryId＃ 传媒 ＃investSuggestion＃ liyangyjs@xyzq.com.cn S0190518080004 李阳 请务必阅读正文之后的信息披露和重要声明 公司点评报告(带市场行情) ⚫ 主业稳中有进，一季度合并范围变更致业绩波动。 3）2024 年一季度：由于合并范围同比增加光厂创意，公司一季度营收同比增 长 32.35%，扣非后归母净利润同比增长 88.35%。由于 2023 年 Q1 进一步收 购成都光厂至控股产生投资收益，2024 年 Q1 投资收益同比减少 4949.86 万 元，因此公司归母净利润同比下降 71.98%。 2）丰富场景及客户资源：公司客户已经覆盖各个行业领域，KA 客户均是头 部的党政媒体、广告营销、互联网平台和品牌企业，中小企业年度付费用户 不断增长。公司已树立行业领军地位，并凭借现有客户优势打造出健康闭环 的发展生态。 请务必阅读正文之后的信息披露和重要声明 - 2 - ⚫ 盈利预测：我们调整盈利预测，预计公司 2024-2026 年归母净利润为 1.65/1.91/2.10 亿元，对应当前股价（2024 ...

Investment Rating - The report initiates coverage with a rating of "Accumulate - A" for the company [3][15]. Core Insights - The company has a diversified global content ecosystem and rich quality copyright content, positioning itself as a key central platform integrating data, copyright, and links across the industry [3]. - The company aims to explore AI-related innovative business scenarios and business models based on its quality copyright content dataset [3]. - Revenue forecasts for the company from 2024 to 2026 are projected at 160 million, 195 million, and 237 million yuan respectively, with EPS expected to be 0.23, 0.28, and 0.34 yuan [3]. Financial Data and Valuation - The company achieved a revenue of 781 million yuan in 2023, representing a year-on-year growth of 11.94%, and a net profit of 146 million yuan, recovering from a loss in the previous year [15]. - The company’s revenue is expected to grow to 921 million yuan in 2024, 1,040 million yuan in 2025, and 1,176 million yuan in 2026, with corresponding gross margins of 50%, 49%, and 49% [21]. - The company’s P/E ratios are projected to decrease from 59.6 in 2024 to 40.4 in 2026, indicating an expected improvement in valuation as profits grow [19]. Business Strategy and Market Position - The company focuses on building a full industry chain ecosystem around content copyright trading, leveraging over 20 years of experience in the digital copyright industry [15]. - The strategic direction is centered on "AI + Content + Scenarios," aiming to enhance business scenarios based on customer needs [21]. - The company is expanding its audio-visual market presence through strategic investments, including a 61.6% stake in Chengdu Guangchang Creative Technology Co., enhancing its sales scale in the audio-visual business [15][21]. Comparable Company Analysis - The report compares the company with peers in the digital content and copyright operation sectors, highlighting that the company operates in a high-valuation environment due to the nature of the industry [7][22]. - The average P/E ratio of comparable companies is noted to be significantly lower than that of the company, suggesting potential for valuation adjustment as the company matures its new business lines [7][22].

关于股份回购进展情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 证券代码：000681 证券简称：视觉中国 公告编号：2024-020 视觉（中国）文化发展股份有限公司 视觉（中国）文化发展股份有限公司（以下简称"公司"）于 2023 年 8 月 31 日召开的第十届董事会第十次会议，审议通过了《关于回购公司股份方案的 议案》，同意公司使用自有或自筹资金以集中竞价交易方式回购部分公司已在境 内发行的人民币普通股（A 股）股票，用于实施员工持股计划或股权激励。本次 回购金额不低于人民币 3,500 万元（含本数）不超过 7,000 万元（含本数），回 购价格不超过人民币 25.75 元/股（含本数），回购股份实施期限为自股东大会审 议通过本回购方案之日起 12 个月内。2023 年 9 月 18 日，上述议案已经公司 2023 年第二次临时股东大会审议通过。 具体内容详见公司分别于 2023 年 9 月 1 日、9 月 19 日披露于巨潮资讯网 （www.cninfo.com.cn）、《中国证券报》《上海证券报》及《证券日报》的《视 觉中国：第十届董 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expectation for the stock to outperform the market index by more than 20% over the next 6 to 12 months [17][19]. Core Viewpoints - The company achieved a revenue of 781 million yuan and a net profit of 146 million yuan in 2023, representing year-on-year growth of 12% and 48% respectively, with a diluted EPS of 0.21 yuan [2][21]. - The company continues to maintain high customer retention among key accounts, with an 80% renewal rate for long-term clients with annual sales exceeding 100,000 yuan [2][51]. - The "AI + Content + Scenarios" strategy is being actively pursued, with significant advancements in AI-driven services and partnerships, including collaborations with Baidu and Huawei Cloud [2][52][36]. Financial Performance Summary - Revenue and net profit for Q4 2023 were 207 million yuan and 23 million yuan, respectively, showing year-on-year increases of 21.7% and 22.3% [2][21]. - The company’s operating cash flow net amount reached 179 million yuan, a 29% increase year-on-year [2][21]. - The forecast for net profit in 2024 and 2025 has been adjusted to 176 million yuan and 203 million yuan, respectively, with an additional forecast for 2026 at 221 million yuan [12][18]. Strategic Developments - The company has launched AI intelligent search capabilities on its platforms, enhancing user experience by allowing natural language searches [24][36]. - The introduction of standardized products for small and medium enterprises has led to an increase in e-commerce sales, which rose from 1% of total revenue in 2022 to 23% in 2023 [2][51]. - The company is leveraging its extensive content database and AI technology to enhance service offerings and create new revenue streams [26][36].

[Table_ 过去一年股价走势 PicQuote] -45% -27% -8% 10% 28% 4/26 7/26 10/25 1/24 4/24 视觉中国 沪深300 视觉中国(000681)公司点评报告 2024 年 04 月 28 日 [Table_Title] AI 战略深化内容优势，音视频业务快速增长 ——视觉中国（000681）2023 年年报及 2024 年一季报点评 [Table_Summary] 事件： 公司发布 2023 年年报及 2024 年一季报。 深化"AI+内容+场景"战略，视觉+服务持续开拓 C 端市场 投资建议与盈利预测 国元证券研究所 国元证券股份有限公司 投资评级说明: | --- | --- | --- | --- | |-------|---------------------------------------------------|-------|---------------------------------------------------| | | | | | | | | | | | | (1) 公司评级定义 | | (2) 行业评级定义 | | 买入 ...

Investment Rating - The report maintains a "Buy" rating for the company [16]. Core Views - The company reported a revenue of 780 million RMB for 2023, a year-on-year increase of 11.9%, and a net profit attributable to shareholders of 150 million RMB, up 48.1% year-on-year [16]. - The first quarter of 2024 saw a revenue of 170 million RMB, reflecting a significant year-on-year growth of 32.4% [16]. - The company is focusing on AI and 3D as key growth areas, with strategic investments aimed at enhancing its core business [16]. Summary by Relevant Sections Financial Performance - Revenue for 2022 was 698 million RMB, with a projected increase to 781 million RMB in 2023 and further growth expected to 938 million RMB in 2024 [2]. - The net profit for 2022 was 99 million RMB, expected to rise to 146 million RMB in 2023 and 170 million RMB in 2024 [2]. - The diluted earnings per share (EPS) for 2022 was 0.142 RMB, projected to increase to 0.208 RMB in 2023 and 0.243 RMB in 2024 [2]. Profitability Metrics - The return on equity (ROE) for 2023 is projected at 4.20%, with further increases to 4.61% in 2024 and 5.07% in 2025 [2]. - The price-to-earnings (P/E) ratio is expected to decrease from 70.73 in 2023 to 52.44 in 2024, indicating a potentially more attractive valuation [2]. Business Strategy - The company is leveraging AI technologies to enhance its service offerings, including AI-driven visual digital asset solutions and strategic partnerships with tech firms [16]. - The focus on 3D digital asset services is expected to open new growth avenues, with investments already made in relevant companies [16]. Market Position - The company has seen a shift in its revenue structure, with significant contributions from video and e-commerce segments, indicating diversification in its income sources [16]. - The report highlights the company's ability to maintain a competitive edge through innovation and strategic investments in emerging technologies [16].