1．2026 年 2 月 26 日，华闻传媒投资集团股份有限公司（以下简 称"公司"）收到海南省海口市中级人民法院（以下简称"海口中院" 或"法院"）送达的《民事裁定书》[（2024）琼 01 破申 70 号]，裁定 受理公司债权人三亚凯利投资有限公司（以下简称"三亚凯利"）对公 司的重整申请。 2．因海口中院依法裁定受理债权人对公司的重整申请，根据《深 圳证券交易所股票上市规则》第 9.4.1 条第（九）项的规定，公司股 票交易将于 2026 年 3 月 2 日被实施退市风险警示，股票简称变更为 "*ST 华闻"，证券代码仍为"000793"，股票日涨跌幅限制仍为 5%。 根据《深圳证券交易所股票上市规则》第 9.4.9 条的规定，公司股票 将于 2026 年 2 月 27 日开市起停牌一天，自 2026 年 3 月 2 日开市起复 牌。 证券代码：000793 证券简称：ST 华闻 公告编号：2026-002 华闻传媒投资集团股份有限公司 关于法院裁定受理公司重整 及公司股票交易将被叠加实施退市风险警示 暨公司股票停复牌的公告 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 ...

【ST华闻（维权）：法院裁定受理公司重整 股票停牌】智通财经2月26日电，ST华闻(000793.SZ)公告 称，公司收到海南省海口市中级人民法院送达的《民事裁定书》，裁定受理公司债权人三亚凯利投资有 限公司对公司的重整申请。根据相关规定，公司股票交易将于2026年3月2日被实施退市风险警示，股票 简称变更为"*ST华闻"，证券代码仍为"000793"，股票日涨跌幅限制仍为5%。同时，公司股票将于2026 年2月27日开市起停牌一天，自2026年3月2日开市起复牌。 转自：智通财经 ...

Group 1 - The company ST Huawen (000793.SZ) has stated that it is currently not conducting business based on seedance technology [1]

Group 1 - Intercontinental Oil and Gas focuses on oil exploration and development, with significant operations in Kazakhstan and the Malacca Strait, benefiting from the Hainan Free Trade Port's zero-tariff policy which will reduce equipment import costs and enhance cross-border energy trade efficiency, with a projected 30% increase in trade scale over the next three years [1][34] - Jinpan Technology, a leading manufacturer of high-end power distribution equipment, will benefit from reduced raw material costs and a 15% corporate income tax reduction, enhancing profitability and enabling expansion into the ASEAN power equipment market [2][35] - Hainan Airlines, a major player in the aviation sector, expects a significant increase in passenger traffic due to the visa-free policy for 86 countries and duty-free upgrades, with projected passenger volume exceeding 80 million by 2026 [3][36] Group 2 - Junda Co., a top photovoltaic cell manufacturer, anticipates growth in its solar business due to reduced equipment costs and tax incentives, with plans to participate in Hainan's integrated wind and solar storage projects [4][37] - Caesar Travel, a comprehensive tourism service provider, expects a doubling of cross-border tourism business and a significant increase in tourist arrivals, with projections of 180 million visitors by 2026 [5][38] - Xinda A, a diversified company focusing on motorcycle manufacturing and coal mining, aims to leverage the zero-tariff policy to enhance profitability and expand into the electric vehicle market [6][39] Group 3 - ST Huluwawa, a leading pediatric pharmaceutical company, will benefit from reduced raw material costs and tax incentives, with plans to expand into the ASEAN pharmaceutical market [8][40] - Hainan Ruize, a construction industry leader, anticipates a surge in infrastructure demand with projected investments exceeding 100 billion by 2026, benefiting from the Hainan Free Trade Port's policies [9][42] - Hainan Airport, a key player in airport operations, expects a doubling of cargo business and significant passenger growth due to the visa-free policy and duty-free upgrades [10][43] Group 4 - Hainan Development, an investment platform, anticipates a substantial increase in duty-free sales, projected to exceed 100 billion by 2026, benefiting from the Hainan Free Trade Port's policies [11][45] - Hainan Highway, a major highway operator, expects a significant increase in traffic volume, projected to exceed 200 million vehicles by 2026, benefiting from the integration of tourism and real estate [20][56] - Hainan Rubber, the world's largest natural rubber producer, aims to expand its market presence in ASEAN due to favorable trade policies and tax incentives [21][57]

Market Overview - The publishing sector declined by 0.93% compared to the previous trading day, with Rongxin Culture leading the decline [1] - The Shanghai Composite Index closed at 4102.2, up by 0.85%, while the Shenzhen Component Index closed at 14156.27, up by 0.21% [1] Individual Stock Performance - Zhongyuan Media (000719) saw a closing price of 13.44, with an increase of 5.16% and a trading volume of 461,300 shares, amounting to 626 million yuan [1] - Reader Media (603999) experienced a decrease of 1.32% with a net outflow of 227.44 million yuan from main funds [3] - Rongxin Culture (301231) closed at 36.29, down by 6.95%, with a trading volume of 94,500 shares and a transaction value of 350 million yuan [2] Fund Flow Analysis - The publishing sector experienced a net outflow of 649 million yuan from main funds, while retail investors saw a net inflow of 726 million yuan [2] - Main funds showed a net inflow of 2.39 million yuan into Zhongyuan Media, while other stocks like Zhejiang Publishing (601921) and City Media (600229) had mixed fund flows [3]

Core Insights - The publishing sector experienced a rise of 1.52% on February 3, with notable gains from companies like Zhongwen Online, which led the sector with a 4.01% increase [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Group 1: Stock Performance - Zhongwen Online (300364) closed at 31.91 with a gain of 4.01%, trading volume of 588,700 shares and a transaction value of 1.855 billion [1] - Ning Media (002181) saw a 3.25% increase, closing at 12.38 with a trading volume of 1,254,400 shares and a transaction value of 1.536 billion [1] - Other notable performers included Southern Media (601900) with a 2.68% increase, China Science Publishing (601858) up 2.27%, and Anhui New Media (601801) up 2.21% [1] Group 2: Market Flow - The publishing sector experienced a net outflow of 171 million from institutional investors, while retail investors saw a net inflow of 242 million [2] - The data indicates that retail investors were more active in the market, contrasting with the outflows from institutional and speculative funds [2] Group 3: Individual Stock Flows - Zhejiang Publishing (601921) had a net inflow of 10.2522 million from institutional investors, while it faced a net outflow of 11.2103 million from speculative funds [3] - Southern Media (601900) recorded a net inflow of 7.0367 million from institutional investors, with a significant outflow of 14.4210 million from speculative funds [3] - Retail investors contributed a net inflow of 738.43 million to Southern Media, indicating strong retail interest [3]

Group 1 - The company expects a net profit in the range of -200 million to -160 million yuan for the fiscal year 2025 [2][3] - The primary reasons for the expected loss include industry adjustments, liquidity issues, and provisions for bad debts, which negatively impact net profit by approximately -200 million to -160 million yuan [3] - Non-recurring losses from the decline in fair value of financial assets and penalties from debt defaults are estimated to impact net profit by about -70 million to -40 million yuan [3] Group 2 - The company has communicated with its accounting firm regarding the performance forecast, and there are no significant disagreements [2] - The financial data provided is preliminary and will be finalized after assessment and audit, with detailed disclosures in the 2025 annual report [5] - The company has designated specific media outlets for information disclosure, including Securities Times and China Securities Journal [5]

Financial Projections - The estimated net profit for 2025 is projected to be between -200 million and -160 million CNY, compared to -140 million CNY in the same period last year[4]. - The estimated net profit after deducting non-recurring gains and losses is projected to be between -210 million and -150 million CNY, compared to -512 million CNY in the same period last year[4]. - Estimated operating revenue for 2025 is projected to be between 340 million and 380 million CNY, compared to 335.7 million CNY in the same period last year[4]. - The estimated basic earnings per share is projected to be -0.1001 CNY, compared to -0.0701 CNY in the same period last year[4]. Loss Factors - The main reasons for the loss include industry adjustments and liquidity issues, impacting net profit by approximately -200 million to -160 million CNY due to provisions for receivables and interest expenses[6]. - The fair value decline of financial assets and penalties from debt defaults is expected to impact net profit by approximately -70 million to -40 million CNY, classified as non-recurring losses[6]. Non-Recurring Gains - Gains from the disposal of long-term equity investments and recovery of bad debts are expected to positively impact net profit by approximately 60 million to 70 million CNY, classified as non-recurring gains[6]. Financial Reporting - The financial data is preliminary and will be finalized after assessment and audit, with detailed disclosures in the 2025 annual report[7]. - The company has communicated with its accounting firm regarding the earnings forecast, with no significant discrepancies noted[5]. - Investors are advised to exercise caution and consider investment risks based on the preliminary nature of the earnings forecast[7].

Core Viewpoint - The publishing sector experienced an overall increase of 0.94% on January 23, with Century Tianhong leading the gains. The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1]. Group 1: Stock Performance - Century Tianhong (300654) closed at 11.48, up 6.79% with a trading volume of 502,500 shares and a transaction value of 590 million yuan [1]. - Rongxin Culture (301231) closed at 40.55, up 4.92% with a trading volume of 105,600 shares and a transaction value of 418 million yuan [1]. - Southern Media (601900) closed at 16.12, up 3.73% with a trading volume of 386,500 shares and a transaction value of 609 million yuan [1]. - Guomai Culture (301052) closed at 42.28, up 3.02% with a trading volume of 82,400 shares and a transaction value of 34.6 million yuan [1]. - Chinese Online (300364) closed at 32.79, up 2.12% with a trading volume of 1,057,800 shares and a transaction value of 34.65 million yuan [1]. Group 2: Capital Flow - The publishing sector saw a net inflow of 55.35 million yuan from institutional investors, while retail investors experienced a net outflow of 95.80 million yuan [2]. - The main capital inflow was led by Chinese Online (300364) with a net inflow of 1.34 billion yuan from institutional investors, despite a net outflow of 1.44 billion yuan from retail investors [3]. - Southern Media (601900) had a net inflow of 54.21 million yuan from institutional investors, but also saw a net outflow of 38.15 million yuan from retail investors [3].

Core Viewpoint - The publishing sector experienced a rise of 1.37% on January 22, with ST Huawen leading the gains, while the Shanghai Composite Index closed at 4122.58, up 0.14% [1] Group 1: Market Performance - The publishing sector's stocks showed varied performance, with ST Huawen closing at 2.75, up 4.96%, and a total trading volume of 494,400 shares, amounting to 134 million yuan [1] - Other notable performers included Rongxin Culture, which rose by 4.91% to 38.65, and Ning Media, which increased by 3.96% to 12.07 [1] - The overall trading volume in the publishing sector was significant, with Chinese Online recording a trading volume of 923,400 shares and a transaction value of 2.983 billion yuan [1] Group 2: Capital Flow - The publishing sector saw a net inflow of 246 million yuan from main funds, while retail investors experienced a net outflow of 236 million yuan [1] - The capital flow data indicates that Chinese Online had a main fund net inflow of 202 million yuan, while it faced a retail net outflow of 2 billion yuan [2] - ST Huawen also reported a main fund net inflow of 14.68 million yuan, but a significant retail net outflow of 13.48 million yuan [2]