证券之星消息，8月15日，中原传媒（000719）融资买入607.48万元，融资偿还579.94万元，融资净买入 27.54万元，融资余额1.19亿元，近3个交易日已连续净买入累计113.77万元，近20个交易日中有11个交 易日出现融资净买入。 | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-08-15 | 1.20亿 | 38.18万 | 0.32% | | 2025-08-14 | 1.19亿 | 61.20万 | 0.52% | | 2025-08-13 | 261.I | 26.28万 | 0.22% | | 2025-08-12 | 1.18亿 | -313.18万 | -2.58% | | 2025-08-11 | 1.21亿 | -192.46万 | -1.56% | | 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-08-15 | 27.54万 | 1.19亿 | 1.36% | | 2025-08-14 | 61 ...

证券日报网讯中原传媒（000719）8月12日在互动平台回答投资者提问时表示，截至2025年8月8日公司 登记在册的股东人数为17761户。 ...

证券日报网讯中原传媒（000719）8月11日在互动平台回答投资者提问时表示，截至2025年8月8日公司 登记在册的股东人数为17761户。 ...

金融界消息 截至2025年8月5日收盘，中原传媒（000719）报收于13.17元，上涨0.46%，换手率1.26%， 成交量8.40万手，成交金额1.11亿元。 资金流向方面，今日主力资金净流入1286.96万元，占比成交额11.59%。其中，超大单净流入413.29万 元、占成交额3.72%，大单净流入873.67万元、占成交额7.87%，中单净流出流出963.72万元、占成交额 8.68%，小单净流出323.24万元、占成交额2.91%。 中原传媒最新一期业绩显示，截至2025一季报，公司营业总收入19.16亿元、同比增长1.04%，归属净利 润1.10亿元，同比增长234.61%，扣非净利润1.04亿元，同比增长244.22%，流动比率1.413、速动比率 1.239、资产负债率36.27%。 通过天眼查大数据分析，中原大地传媒股份有限公司共对外投资了21家企业，参与招投标项目134次， 知识产权方面有商标信息15条，此外企业还拥有行政许可3个。 来源：金融界 天眼查商业履历信息显示，中原大地传媒股份有限公司，成立于1996年，位于焦作市，是一家以从事化 学原料和化学制品制造业为主的企业。企业注册资本 ...

证券之星消息，8月5日出版板块较上一交易日上涨0.58%，荣信文化领涨。当日上证指数报收于3617.6， 上涨0.96%。深证成指报收于11106.96，上涨0.59%。出版板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300788 中信出版 | | -2400.27万 | 10.19% | 956.98万 | 4.06% | -3357.24万 | -14.25% | | 600551 时代出版 | | 1832.39万 | 6.30% | 1198.05万 | 4.12% | -3030.44万 | -10.42% | | 300148 天舟文化 | | 1689.94万 | 5.24% | -552.65万 | -1.71% | -1137.29万 | -3.52% | | 603999 读者传媒 | | 1320.99万 | 5.43% | 1161.16万 | 4.77% | -248 ...

Group 1 - The core point of the article is that Zhongyuan Media (000719) reported on August 1 that, according to data from the Shenzhen branch of China Securities Depository and Clearing Corporation, the number of registered shareholders of the company is 17,562 as of July 31, 2025 [1]

Core Viewpoint - The article highlights the trend of decreasing shareholder accounts among several companies, indicating a concentration of shares and potential investment opportunities in those stocks [1][2]. Group 1: Shareholder Account Trends - A total of 94 companies reported their latest shareholder account numbers as of July 20, with 16 companies experiencing a continuous decline for more than three periods, and one company, Guoyuan Securities, seeing a decrease for 12 consecutive periods, with a cumulative decline of 7.13% [1]. - Zhongyuan Media has also seen a significant decline, with its shareholder accounts dropping for 9 consecutive periods, resulting in a cumulative decline of 29.57% [1]. - Other companies with notable declines in shareholder accounts include Jiemai Technology, Xiyu Co., and Shuangxiang Co. [1]. Group 2: Market Performance - Among the companies with decreasing shareholder accounts, 14 have seen their stock prices rise, while only 2 have experienced declines, with Xiyu Co., Haixia Co., and Jiangsu Shentong showing high cumulative gains of 25.89%, 22.93%, and 16.93%, respectively [2]. - 12 of these companies outperformed the Shanghai Composite Index, with excess returns of 19.55%, 16.98%, and 11.76% for Xiyu Co., Haixia Co., and Jiangsu Shentong, respectively [2]. Group 3: Institutional Interest - In the past month, 5 companies with decreasing shareholder accounts have been subject to institutional research, with Jiangsu Shentong and Haixia Co. being the most frequently researched, each receiving 3 inquiries [2]. - The number of institutions involved in research is highest for Jiangsu Shentong (23 institutions), followed by Haixia Co. (8 institutions) and AVIC High-Tech (4 institutions) [2]. Group 4: Performance Forecasts - One company has released its half-year performance report, with Guoyuan Securities showing a net profit increase of 40.44% [3]. - Seven companies have issued performance forecasts, with five expecting profit increases and one predicting a profit [3]. - Hai De Control is projected to have the highest median net profit increase of 251.80%, with an expected net profit of 12.50 million [3].

Summary of Zhongyuan Media Conference Call Company Overview - **Company**: Zhongyuan Media - **Industry**: Publishing and Education Key Points Financial Performance - **Revenue Growth**: Zhongyuan Media's main business revenue increased in the first half of the year, with a focus on optimizing the material business structure and enhancing sales of educational materials, leading to a slight increase in gross margin [2][4] - **Net Profit Increase**: The company expects net profit growth to exceed 50%, estimated between 50% to 60%, due to the absence of a significant tax expense from the previous year [3] - **Cost Management**: The company achieved double-digit natural growth through increased revenue and reduced costs, including lower personnel expenses and decreased sales promotion costs [3] Market Dynamics - **General Book Market**: The general book market faces significant pressure from e-books, with sales accounting for approximately 8%-10% of total book sales, estimated at 3-4 billion yuan in the first half of the year [2][6] - **Educational Materials**: The educational materials market in Henan province remains stable, unaffected by policy changes, with the "one lesson, one supplement" policy still in effect [2][12] Growth Strategies - **Research and Study Business**: The research and study business is identified as a future growth point, with a target revenue of 200 million yuan for the year. The company is investing in various initiatives, including transforming bookstores and building camps [2][7] - **AI and Smart Education**: The AI business is integrated with the smart education platform, with phase one completed and expected to be fully operational in over 300 schools by the end of the year. This initiative is anticipated to contribute to future revenue growth but will not generate direct income in 2025 [2][10] Profitability and Margins - **Gross Margin Outlook**: The gross margin for 2025 is expected to be low due to significant investments in research and study equipment and camp construction, making profit predictions challenging [2][8] - **Future Profitability**: The company aims to establish its business first, with a clearer understanding of gross margins expected by 2026 [2][8] Workforce Management - **Employee Count**: The workforce has decreased to 12,700, down from 18,000 at the time of listing, leading to an older age structure. The company anticipates a reduction of 300-400 employees by the end of the year [2][9] - **Cost Savings**: Reducing the workforce is expected to save approximately 14 million yuan if 100 employees are let go [2][9] Dividend Policy - **Dividend Strategy**: Zhongyuan Media has a stable growth dividend policy, with a relatively high payout ratio in the publishing sector. The plan is to increase dividends based on a base of 0.6 yuan per share in 2025, subject to shareholder approval [2][14][15] Future Considerations - **Market Performance Monitoring**: The company will continue to monitor market performance closely, especially in the general book sector, where pressures from digital formats persist [2][6] - **Third Quarter Expectations**: The company expects a normal revenue recognition period in the third quarter of 2025, unlike the previous year, which faced delays due to policy changes [2][13]

[Expected Performance for the Current Period](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E8%AE%A1%E6%83%85%E5%86%B5) The company expects 2025 first-half net profit to rise significantly, with attributable net profit growing 44% to 62% 2025 Semi-Annual Performance Forecast Summary | Item | Current Period (RMB million) | Prior Period (RMB million) | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | **Profit: 510.49 - 571.42** | Profit: 353.58 | | | **Year-on-year Growth: 44% - 62%** | | | **Net Profit Excluding Non-recurring Items** | **Profit: 500.49 - 566.42** | Profit: 341.13 | | | **Year-on-year Growth: 47% - 66%** | | | **Basic Earnings Per Share (RMB/share)** | **Profit: 0.50 - 0.56** | Profit: 0.35 | [Communication with Accounting Firm](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8E%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%B2%9F%E9%80%9A%E6%83%85%E5%86%B5) The company explicitly states this performance forecast's financial data remains unaudited by an accounting firm - The financial data in this performance forecast has not been audited by an accounting firm[4](index=4&type=chunk) [Explanation of Performance Change](index=1&type=section&id=%E4%B8%89%E3%80%81%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) Significant performance growth is primarily due to a tax policy change, enabling continued corporate income tax exemption - The core reason for the substantial performance growth is a change in tax policy, allowing the company's publishing and book distribution units to continue enjoying corporate income tax exemption from 2024 to 2027, as per a December 2024 announcement[5](index=5&type=chunk)[6](index=6&type=chunk) - Benefiting from the tax preferential policy, the company did not accrue relevant income tax expenses in H1 2025, directly leading to a significant increase in net profit attributable to shareholders and other profit indicators[6](index=6&type=chunk) [Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company confirms no significant uncertainties impact the accuracy of this performance forecast - The company states there are no significant uncertainties affecting the accuracy of this performance forecast[7](index=7&type=chunk) [Other Relevant Information](index=2&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E7%9B%B8%E5%85%B3%E8%AF%B4%E6%98%8E) This performance forecast is preliminary; final figures will be in the official 2025 semi-annual report, investors should note investment risks - This performance forecast represents preliminary company data, with final figures subject to the officially disclosed 2025 semi-annual report[8](index=8&type=chunk)

Investment Rating - The report gives a "Strong Buy" rating for Zhongyuan Media (000719) [1] Core Views - Zhongyuan Media is a high-quality local education publishing company with strong dividend capabilities and a high safety margin, while its new business prospects are promising [1][6] - The company benefits from its unique position as the only listed cultural enterprise in Henan Province, with a complete industrial chain covering publishing, distribution, printing, and educational services [6][13] - The company has a robust business model supported by its licensing advantages and stable revenue from its core publishing and distribution operations [6][8] Financial Summary - Total revenue is projected to grow from 9,857 million in 2024 to 11,189 million in 2027, with a compound annual growth rate (CAGR) of approximately 4.3% [2] - Net profit attributable to shareholders is expected to increase from 1,030 million in 2024 to 1,397 million in 2027, with a notable growth of 22.5% in 2025 [2] - The earnings per share (EPS) is forecasted to rise from 1.01 in 2024 to 1.37 in 2027, reflecting a steady growth trajectory [2] Business Analysis - The company's revenue structure shows that publishing and distribution account for over 75% of total revenue, with distribution contributing 57% and publishing 23% in 2024 [25][31] - The company holds exclusive rights for textbook publishing and distribution in Henan, ensuring a stable demand base due to the large number of K12 students in the province [6][44] - Zhongyuan Media is actively expanding into vocational education, market-oriented supplementary materials, and AI+ education, which are expected to provide additional growth opportunities [6][8] Dividend Capability - The company has a strong willingness and ability to pay dividends, supported by its stable cash flow and low capital expenditure [6][8] - The controlling shareholder, the Henan Provincial Government, has a vested interest in maintaining high dividend payouts, further enhancing the company's safety margin [6][8] Investment Recommendation - The report anticipates steady growth in the company's core business, with potential increases in dividends providing a stronger safety margin [9] - The target price is set at 18.49 yuan, based on a relative valuation method using a 15x PE ratio for 2025 [2][9]