Group 1 - Huanrui Century's stock increased by 5.02% on September 1, reaching a price of 5.44 CNY per share, with a trading volume of 597 million CNY and a turnover rate of 15.92%, resulting in a total market capitalization of 5.337 billion CNY [1] - Huanrui Century, established on November 16, 1997, and listed on January 15, 1999, is primarily engaged in film and television production and distribution, artist management, and gaming and related derivative businesses. The revenue composition is as follows: 67.91% from film and television and derivatives, 32.05% from artist management, and 0.05% from e-commerce [1] Group 2 - According to data from the top ten holdings of funds, one fund under Nuoan Fund has a significant position in Huanrui Century. The Nuoan Steady Return Mixed A Fund (000714) held 4.8367 million shares in the second quarter, accounting for 3.74% of the fund's net value, ranking as the ninth largest holding. The estimated floating profit today is approximately 1.2575 million CNY [2] - The Nuoan Steady Return Mixed A Fund (000714) was established on September 15, 2014, with a current scale of 166 million CNY. Year-to-date returns are 65.2%, ranking 286 out of 8,254 in its category; the one-year return is 128.48%, ranking 145 out of 8,037; and the cumulative return since inception is 108.11% [2]

Group 1 - The A-share market saw a collective rise in film stocks, with WenTou Holdings hitting the daily limit up of 10.15%, China Film increasing by 7%, and Bona Film and Happiness Blue Sea rising over 5% [1][2] - The China Securities Association released a report indicating that cultural consumption demand has been released, with representative industries such as gaming and film box office achieving revenue growth and net profit growth exceeding 70% in the first half of 2025 [1] - According to the National Film Administration, the box office for the summer season in 2025 reached 11.966 billion yuan, with 321 million viewers, representing year-on-year growth of 2.76% and 12.75% respectively, while domestic films accounted for 76.21% of the box office [1] Group 2 - The market capitalization and year-to-date performance of key film stocks are as follows: WenTou Holdings at 11.9 billion yuan with a 30.22% increase, China Film at 27.9 billion yuan with a 28.97% increase, and Happiness Blue Sea at 6.662 billion yuan with a remarkable 105.52% increase [2] - Other notable stocks include Bona Film at 7.505 billion yuan with a decline of 10.93%, and Huayi Brothers at 5.79 billion yuan with a 21.07% increase [2] - The MACD golden cross signal formation indicates a positive trend for these stocks [2]

Group 1 - The core point of the announcement is the approval of the employee stock ownership plan (ESOP) by the board of directors, aimed at enhancing the company's governance and competitiveness while motivating employees [1][2][3] - The board meeting was held on August 28, 2025, with all five directors present, and the proposal for the ESOP received four votes in favor, with one director abstaining due to potential conflict of interest [1][2] - The ESOP is set to be submitted for approval at the company's first extraordinary general meeting of shareholders in 2025 [2][3] Group 2 - The company plans to implement the ESOP in accordance with relevant laws and regulations, including the Company Law and Securities Law, and has drafted the "2025 Employee Stock Ownership Plan (Draft)" [2][3] - The board has proposed to authorize itself to handle all matters related to the ESOP, including establishment, changes, and termination of the plan, as well as decisions regarding stock lock-up and release [3][4] - The board also approved the appointment of Mr. Yang Shuai as the company secretary, with a term lasting until the end of the current board's tenure [5][6] Group 3 - The company has scheduled its first extraordinary general meeting of shareholders for September 15, 2025, to discuss the ESOP and other matters [5][6] - The board's resolutions from the meeting, including the ESOP and the appointment of the company secretary, will be made available for public review [5][6]

Core Viewpoint - The company has approved the implementation of the 2025 Employee Stock Ownership Plan (ESOP) to enhance corporate governance, employee cohesion, and competitiveness, while attracting and retaining talented management for sustainable development [1][2]. Summary by Relevant Sections - The company convened the 13th meeting of the 9th Supervisory Board on August 28, 2025, to review the ESOP proposal, ensuring compliance with relevant laws and regulations [1]. - The Supervisory Board confirmed that the ESOP draft aligns with the guidelines and does not involve any coercive participation or financial assistance to employees [1][2]. - The decision-making process for the ESOP was deemed legal and effective, with the proposal set to be submitted for shareholder approval [2].

Group 1 - The core viewpoint of the announcement is the approval of the 2025 Employee Stock Ownership Plan (ESOP) by the Supervisory Board, which aims to enhance corporate governance and attract talent [2][3] - The Supervisory Board meeting was held on August 28, 2025, with all three members present, and the meeting complied with relevant laws and regulations [1] - The proposal for the ESOP received unanimous approval with 3 votes in favor, indicating strong support from the Supervisory Board [2] Group 2 - The implementation of the 2025 ESOP is expected to improve the company's governance structure and establish a long-term incentive mechanism [2] - The management measures for the ESOP are designed to ensure its smooth implementation and compliance with regulations, contributing to the company's sustainable development [2] - The detailed content of the ESOP will be published on the Giant Tide Information Network, and the proposal will be submitted for approval at the company's first extraordinary general meeting of shareholders in 2025 [2][3]

证券代码：000892 证券简称：欢瑞世纪 上海荣正企业咨询服务（集团）股份有限公司 关于 欢瑞世纪联合股份有限公司 之 独立财务顾问报告 二零二五年八月 一、释义 ···························································································3 二、声明 ···························································································4 三、基本假设 ·····················································································5 四、本次员工持股计划的主要内容 ························································· 6 （一）本次员工持股计划的基本原则 ··················································· ...

Core Viewpoint - The legal opinion letter from Beijing Hairun Tianrui Law Firm confirms that Huanyu Century Joint Stock Company is qualified to implement its 2025 Employee Stock Ownership Plan (ESOP) and that the plan complies with relevant laws and regulations [1][19]. Group 1: Company Qualification - Huanyu Century is a legally established and effectively existing joint-stock company listed on the Shenzhen Stock Exchange, meeting the qualifications required by the "Guiding Opinions on the Pilot Implementation of Employee Stock Ownership Plans by Listed Companies" [7][19]. - The company has a registered capital of 980.98 million RMB and operates in various sectors including film and television production, artist management, and software development [7]. Group 2: Legality and Compliance of the ESOP - The ESOP has undergone necessary internal review procedures as per legal and regulatory requirements, ensuring no insider trading or market manipulation occurs [8][9]. - Participation in the ESOP is voluntary for employees, with no forced distribution or financial assistance from the company, aligning with the self-determination principle [9][12]. - The plan allows for a maximum of 35 participants, including 4 directors and senior management, adhering to the stipulated regulations [11]. Group 3: Legal Procedures - The company has completed the necessary legal procedures for the ESOP, including employee consultations and board approvals, in compliance with relevant regulations [14][15]. - The ESOP is set to last for 24 months with a lock-up period of 12 months, which is consistent with regulatory requirements [13]. Group 4: Information Disclosure - The company has disclosed relevant resolutions and documents related to the ESOP as required by law, ensuring transparency in the process [19].

Meeting Information - The first extraordinary general meeting of shareholders for 2025 will be held on September 15, 2025 [1] - The meeting is convened by the board of directors of Huanyu Century Joint Stock Company [1] - The meeting complies with relevant regulations and company bylaws [1] Voting Details - Shareholders can vote through a combination of on-site and online voting [1] - Online voting will be available from September 15, 2025, 9:15 AM to 3:00 PM [1] - The record date for shareholders eligible to attend the meeting is September 10, 2025 [2] Attendance and Registration - All shareholders registered with China Securities Depository and Clearing Corporation Limited by the record date can attend [2] - Registration for attendance must be completed between September 11 and September 14, 2025 [5] - The meeting will take place at a specified location in Beijing [2] Proposals for Discussion - The proposals to be discussed at the meeting have been approved by the board and supervisory board [5] - Specific details regarding the proposals will be available in prior announcements [5] Proxy Voting - Shareholders can appoint a proxy to attend and vote on their behalf [2] - Proxies do not need to be shareholders of the company [2] Online Voting Process - Detailed procedures for participating in online voting are provided [8] - Shareholders must authenticate their identity to vote online [8]

欢瑞世纪联合股份有限公司 薪酬与考核委员会 关于公司2025年员工持股计划相关事项的审核意见 （以下无正文） （此页无正文，为《欢瑞世纪联合股份有限公司薪酬与考核委员会关于公司 2025 年员工持股计划相关事项的审核意见》之签署页） 出席会议（签字）： 张 巍 张佩华 赵会强 欢瑞世纪联合股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召开 第九届薪酬与考核委员会第五次会议。根据《关于上市公司实施员工持股计划试 点的指导意见》（以下简称"《指导意见》"）、《深圳证券交易所上市公司自 律监管指引第 1 号——主板上市公司规范运作》（以下简称"《自律监管指引第 全体委员充分全面的讨论与分析，现就公司 2025 年员工持股计划相关事项发表 审核意见如下： 性文件规定的禁止实施员工持股计划的情形。 年员工持股计划（草案）》内容符合《指导意见》《自律监管指引第 1 号》等法 律、法规及规范性文件的规定。 害公司及全体股东利益的情形，亦不存在摊派、强行分配等方式强制员工参与本 次员工持股计划的情形，不存在公司向员工持股计划参加对象提供贷款、贷款担 保或任何其他财务资助的计划或安排。 指引第 1 号》及其 ...

Core Viewpoint - The company is implementing an employee stock ownership plan (ESOP) aimed at enhancing employee engagement, improving corporate governance, and aligning employee interests with those of shareholders [5][12][33]. Group 1: Employee Stock Ownership Plan Overview - The ESOP will involve a maximum of 10,116,700 shares, representing approximately 1.0313% of the company's total share capital [3][8]. - The plan allows for participation by up to 35 employees, including 4 directors and senior management [7][12]. - The lock-up period for the shares is set at 12 months from the date the last share is transferred to the ESOP [13][14]. Group 2: Objectives and Principles - The primary objective of the ESOP is to establish a profit-sharing mechanism between employees and shareholders, thereby enhancing the company's competitiveness and sustainability [5][12]. - The plan adheres to principles of legality, voluntary participation, and risk-bearing by participants [6][12]. Group 3: Financial Aspects - The funding for the ESOP will come from employees' legal salaries and self-raised funds, with no financial assistance provided by the company [10][12]. - The subscription price for the shares is set at 2.45 RMB per share, based on the average trading price prior to the announcement of the plan [10][13]. Group 4: Performance Assessment - The performance assessment for the ESOP will be based on the company's revenue growth target of at least 20% for the year 2025 [15][16]. - Individual performance will also be evaluated, with a tiered unlocking mechanism for shares based on performance results [17][18]. Group 5: Governance and Management - The ESOP will be managed by a management committee elected by the participants, ensuring that the interests of the participants are safeguarded [20][27]. - The management committee will oversee daily operations and represent the participants in exercising shareholder rights [20][27]. Group 6: Legal and Compliance - The ESOP is designed in compliance with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China [5][6]. - The plan includes provisions for the handling of shares in the event of changes in the company's control or other significant corporate events [27][30].