证券代码：000719 证券简称：中原传媒 公告编号：2025-026 中原大地传媒股份有限公司 关于公司高级管理人员退休辞任的公告 截止本公告披露日，郭孟良先生未持有公司股份，亦不存在应当 履行而未履行的承诺事项。郭孟良先生的辞职不会影响公司的日常 经营活动。 郭孟良先生在公司任职期间忠实履职、笃行不倦，有力促进了公 司核心业务的稳健发展，公司董事会对郭孟良先生为公司发展做出的 贡献表示衷心的感谢！ 特此公告。 中原大地传媒股份有限公司 董 事 会 2025 年 6 月 3 日 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。 中原大地传媒股份有限公司（以下简称"公司"）董事会近日收 到公司副总经理郭孟良先生提交的书面辞职报告。郭孟良先生因达到 法定退休年龄，申请辞去公司副总经理职务。根据《公司法》及《公 司章程》的有关规定，郭孟良先生的辞职报告自送达公司董事会之日 起生效。辞职后，郭孟良先生将不在公司及控股子公司担任任何职务。 ...

Core Viewpoint - The company is the largest comprehensive cultural media group in Henan Province, focusing on publishing, distribution, material trade, printing, and other businesses, with a strong emphasis on digital transformation and online sales growth [1][2]. Business Overview - The company is the exclusive agent for compulsory education textbooks in Henan Province, with steady growth in publishing business [1]. - The company has a full industry chain covering "editing, printing, distribution, and supply" [3]. - The company has a strong offline sales network through 130 Xinhua bookstores, achieving four-level coverage across provinces, cities, counties, and towns [3]. Financial Performance - The company's revenue and net profit have shown steady growth, with revenue recovering to 98.57 billion yuan in 2024 after a decline due to the pandemic [2]. - The net profit attributable to the parent company reached a historical high of 13.89 billion yuan in 2023, with a compound annual growth rate (CAGR) of 13.78% from 2019 to 2023 [2]. - The company expects net profits of 13.81 billion, 14.58 billion, and 15.31 billion yuan for 2025, 2026, and 2027, respectively [4]. Market Position - The company benefits from the population advantage in Henan Province, which has a stable number of enrolled students, providing a broad market space for educational services [2]. - The company is positioned as a leading enterprise in the cultural industry in Henan Province, supported by the "Cultural Strong Province" strategy [1][4]. Innovation and Growth - The company is focusing on educational services through initiatives like the "Xinhua Youth Research Camp," which is expected to become a new growth point [3]. - The company has developed 84 high-quality school-based courses in 2024, reaching 140,000 students, and has conducted 3,889 research activities [3]. Cash Flow and Dividends - The company has a strong cash flow, with total cash dividends increasing from 317 million yuan in 2020 to 614 million yuan in 2024, representing a CAGR of 17.97% [4]. - The dividend payout ratio reached a historical high of 59.61% in 2024, reflecting the company's commitment to shareholder value [4].

Group 1: Technology Integration and Development - The company has integrated AI and other technologies into its main businesses, which will enhance future growth [1] - The company has established a corpus of ancient texts and literature as part of its resource development [2] - The company aims to leverage the policy of AI curriculum implementation in primary and secondary schools, targeting over 80% penetration by 2025 [2] Group 2: Financial Performance and Cost Management - In 2024, the company expects profit growth driven by structural adjustments, cost reductions, and improved gross margins [2] - The company reduced its workforce by 601 employees to save on labor costs [2] - The company has consistently achieved a compound annual growth rate (CAGR) of over 15% in revenue and net profit [5] Group 3: Strategic Partnerships and Market Positioning - The company is actively seeking strategic partnerships to enhance its position as a leading supplier of AI educational infrastructure in Henan [2] - The company is exploring collaboration with local governments to promote inclusive early childhood education resources [5] - The company is planning to utilize provincial capital platforms for cross-regional mergers and acquisitions in digital cultural assets [3] Group 4: Innovation and Product Development - The company is focusing on differentiated competition strategies in smart educational aids and virtual teaching scenarios [3] - The company is developing AI teaching assistants and personalized learning products to meet the demands of the digital education era [3] - The company has introduced automated sorting and intelligent warehouse management systems in its logistics operations [5] Group 5: Market and Investment Strategies - The company is committed to improving its market value through enhanced performance, increased dividend ratios, and active communication with investors [5] - The company is exploring mergers and acquisitions beyond the cultural sector to include technology projects with market potential [6] - The company has no current plans for mid-term dividends in 2025, suggesting a focus on reinvestment [6]

证券代码：000719 证券简称：中原传媒 公告编号：2025-025 中原大地传媒股份有限公司 2024 年年度股东大会决议公告 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。 特别提示： 1.本次股东大会没有否决议案。 2.本次股东大会没有涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开时间 1.现场会议时间：2025 年 5 月 16 日（星期五）15:00； 2.网络投票时间：通过深圳证券交易所交易系统进行网络投票的具 体时间为 2025 年 5 月 16 日 9:15-9:25、9:30-11:30、13:00-15:00；通 过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 5 月 16 日 9:15-15:00； （二）现场会议地点：郑州市金水东路 39 号 A 座 0811 会议室； （三）召开方式：现场投票与网络投票相结合； （四）会议召集人：公司第九届董事会； （五）会议主持人：公司董事长王庆先生； （六）本次会议的召开符合《中华人民共和国公司法》《上市公司股 东大会规则》《深交所股票上市规则》及《公司 ...

国浩律师（上海）事务所 法律意见书 国浩律师（上海）事务所 关于中原大地传媒股份有限公司 2024年年度股东大会的法律意见书 致：中原大地传媒股份有限公司 国浩律师（上海）事务所（以下简称"本所"）作为中原大地传媒股份有限 公司（以下称"公司"）之特聘法律顾问，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司股东会规则》（以下称"《股东会规则》"）、《中原大地传媒股份 有限公司章程》（以下称"《公司章程》"）等法律法规及规范性文件的规定， 指派律师出席并见证了公司于2025年5月16日15时00分在河南省郑州市金水东路 39号A座0811会议室召开的2024年年度股东大会（以下简称"本次股东大会"）， 并对本次股东大会的召集、召开程序、出席人员资格、会议表决程序等事宜进行 了审查。 本所依据本法律意见书出具日之前已经发生或存在的事实及中国现行法律、 法规及规范性文件发表法律意见。 本所同意将本法律意见书作为公司本次股东大会公告的法定文件，随公司其 他公告一并提交深圳证券交易所审查并予公告。 本所律师已经对公司提供的与本次股东大会有关的文 ...

证券代码：000719 证券简称：中原传媒 公告编号：2025-024 为进一步加强与投资者的互动交流，中原大地传媒股份有限公司 （以下简称"公司"）定于 2025 年 5 月 22 日（星期四）15:25-16:55 参加在全景网举办的河南辖区上市公司 2025 年投资者网上集体接待 日活动。本次活动将采用网络远程的方式举行，投资者可登录"全 景·路演天下"（http://rs.p5w.net）参与本次互动交流。 出席本次网上集体接待日活动的人员为公司财务总监兼董事会 秘书吴东升先生（如有特殊情况，参会人员将可能进行调整），届时 将通过网络在线问答互动的形式，与投资者就其关注的问题进行交流， 欢迎广大投资者积极参与。 特此公告。 中原大地传媒股份有限公司 董 事 会 2025 年 5 月 16 日 中原大地传媒股份有限公司 关于参加河南辖区上市公司2025年投资者网上集体 接待日活动的公告 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。 ...

Investment Rating - The report assigns an "Accumulate" rating for the company [2] Core Views - The company's core business remains stable, with a focus on shareholder returns. In 2024, the company achieved operating revenue of 9.857 billion yuan, a year-on-year increase of 0.24%, and a net profit attributable to shareholders of 1.030 billion yuan, a year-on-year decrease of 25.84% due to a one-time adjustment related to deferred tax assets [1][6] - The company plans to distribute a cash dividend of 6.00 yuan per 10 shares, totaling 614 million yuan, which accounts for approximately 59.61% of the net profit attributable to shareholders [1][6] Summary by Relevant Sections Financial Performance - In 2024, the publishing business generated revenue of 3.269 billion yuan, up 3.37% year-on-year, while the distribution business brought in 8.056 billion yuan, a 0.68% increase. The materials sales business saw a revenue decline of 1.77% to 1.785 billion yuan, and the printing business grew by 2.80% to 594 million yuan [4][6] - For Q1 2025, the company reported operating revenue of 1.916 billion yuan, a 1.04% increase, and a net profit attributable to shareholders of 110 million yuan, a significant year-on-year increase of 234.61% [1][6] Future Outlook - The company is expected to maintain stable growth in its core business over the next three years, with projected revenues of 10.122 billion yuan, 10.365 billion yuan, and 10.594 billion yuan for 2025, 2026, and 2027, respectively [6][7] - The net profit attributable to shareholders is forecasted to be 1.317 billion yuan in 2025, reflecting a year-on-year growth of 27.86% [6][7] Strategic Initiatives - The company is actively pursuing digital transformation and enhancing its technological capabilities, including smart upgrades to printing equipment and the development of digital education platforms [4][6] - The company has been awarded a contract for the supply of free textbooks for compulsory education in Henan Province from 2024 to 2027, which is expected to contribute to stable growth in related business segments [4][6]

Investment Rating - The report maintains a positive investment rating for the media and internet industry, specifically recommending leading companies in various segments such as Shenzhou Taiyue, Southern Media, and Tencent Holdings [1][3]. Core Insights - The media industry has shown resilience with a 1.73% increase in the past week, ranking 7th among all sectors. Year-to-date, the media sector has increased by 0.16% [7][10]. - The report highlights the strong performance of the film industry, particularly due to the success of "Nezha 2," which is expected to drive growth in the cinema sector. Hengdian Film's Q1 report exceeded market expectations, with a 50.76% increase in box office revenue [7][17]. - The gaming sector is also viewed positively, benefiting from valuation, performance growth, and policy support, particularly in relation to AI development [7][8]. Summary by Sections Market Performance Review - The media sector index rose by 1.73% from April 14 to April 20, outperforming the CSI 300 index, which increased by 0.59% [10]. - Individual stock performance showed significant gains for companies like Ciwen Media (14.58%) and Huawen Group (13.18%), while companies like Beijing Culture saw declines of up to 9.48% [12][13]. Film Industry Data - The top films for the week included "Xiangyang·Hua" and "Nezha: The Devil's Child," with weekly box office revenues of 47.21 million and 41.01 million respectively [18]. - The overall box office for the Chinese film market reached 24.39 billion, reflecting a 49.10% year-on-year increase [7][17]. Television and Streaming Insights - The top-rated TV dramas included "Chengjia" on Hunan TV with a rating of 2.331% and "Zhangxin" on Zhejiang TV with a rating of 2.095% [21][22]. - Online dramas such as "My Second Half" and "Manhao's Life" led in streaming indices, indicating strong viewer engagement [23][24]. Gaming Sector Highlights - Tencent's "Honor of Kings" topped the iOS sales chart, with six of its games in the top ten [30]. - The gaming industry continues to thrive, with significant contributions from mobile gaming and emerging titles [30][32]. Publishing Sector Overview - The report notes that the publishing industry remains stable, with companies like Zhongyuan Media increasing dividends and reporting high growth in Q1 [7][8]. - Best-selling books in March included "Nezha: The Three Realms" and "To Live (2021 Edition)," indicating strong consumer interest in both fiction and non-fiction categories [33][34].

Core Viewpoint - The company reported stable revenue growth in 2024 and a significant increase in net profit for Q1 2025, alongside a substantial dividend increase, indicating a positive outlook for future performance [1][2][3]. Financial Performance - In 2024, the company achieved revenue of 9.86 billion, a year-over-year increase of 0.2%, with a net profit attributable to shareholders of 1.03 billion, down 25.8% year-over-year. The non-GAAP net profit was 1.25 billion, up 12.1% year-over-year [1][3]. - For Q1 2025, the company reported revenue of 1.92 billion, a year-over-year increase of 1%, and a net profit attributable to shareholders of 0.11 billion, a significant increase of 234.6% year-over-year [1][3]. Dividend Policy - The company plans to increase its dividend for 2024 to 0.6 per share, up by 0.18 from the previous year, resulting in a total dividend payout of 0.61 billion, with a payout ratio of 59.6%, reflecting an increase of nearly 30 percentage points year-over-year. The calculated dividend yield is 4.8% based on the closing price on April 22 [2]. Operational Insights - The growth in non-GAAP net profit in 2024 was driven by an increase in gross margin from the publishing business, which improved overall gross margin by 0.8 percentage points, and a reduction in various impairment losses year-over-year [3]. - The company ended Q1 2025 with cash and cash equivalents totaling 8.55 billion, indicating a strong liquidity position [4]. Strategic Developments - The company is optimizing its educational service ecosystem, with a solid foundation in textbook and supplementary materials, and has surpassed 1.85 million users on its digital textbook service platform. It has also developed new models for after-school research [5]. - The company is making strides in integrated publishing, with its "Huaxia Handmade" digital platform selected for a national development project, showcasing its commitment to digital innovation [5]. Earnings Forecast - The company is projected to achieve revenues of 10.14 billion, 10.31 billion, and 10.46 billion for 2025, 2026, and 2027, respectively, with net profits attributable to shareholders of 1.35 billion, 1.42 billion, and 1.50 billion for the same years. The corresponding price-to-earnings ratios are expected to be 9.5, 9.0, and 8.5 times [5].

Core Insights - The Social Security Fund (SSF) has invested in 87 stocks as of the end of Q1, with 24 stocks held for over 8 consecutive quarters, indicating a long-term investment strategy [1][2] Group 1: Investment Holdings - The SSF's longest-held stock is Zhongyuan Media, held for 43 quarters since Q3 2014, with a current holding of 10.54 million shares, representing 1.58% of the circulating shares [1][3] - Other notable long-term holdings include WoWo Biological (42 quarters), Blue Sky Technology (28 quarters), and Yilian Network (27 quarters) [1][3] - The top three stocks by SSF holding volume at the end of Q1 are Mingtai Aluminum (71.30 million shares), Shenhuo Co. (51.96 million shares), and Guanglian Da (42.17 million shares) [1][3] Group 2: Changes in Holdings - Among the 24 continuously held stocks, three saw an increase in SSF holdings, with China West Electric, Yanjin Shop, and Yilian Network increasing by 27.55%, 17.90%, and 11.98% respectively [2][3] - Thirteen stocks experienced a reduction in holdings, with the largest decreases in holdings for Taoli Bread, Huate Dain, and Shengquan Group, with reductions of 54.74%, 50.27%, and 49.99% respectively [2][3] Group 3: Industry Distribution - The 24 continuously held stocks are concentrated in the basic chemicals, pharmaceutical biology, and non-ferrous metals sectors, with 7, 3, and 3 stocks respectively [2][3] - In terms of market segments, 15 stocks are from the main board, 7 from the Growth Enterprise Market, and 2 from the Sci-Tech Innovation Board [2][3] Group 4: Financial Performance - Among the 24 stocks, 18 reported year-on-year net profit growth, with significant increases noted for Xiantan Co. (583.83%), Zhongyuan Media (234.61%), and Kaili New Materials (90.48%) [3][4] - Five stocks reported a decline in net profit, with the largest decreases for Huaheng Biological, Shenhuo Co., and Taoli Bread, with declines of 40.98%, 35.05%, and 27.07% respectively [3][4]