湖南电广传媒股份有限公司 第六届董事会第五十一次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 湖南电广传媒股份有限公司（以下简称"公司"）第六届董事会第五十一次 会议通知于2025年11月11日以电子邮件或短信息等书面方式发出，会议于2025 年 11 月 13 日以通讯表决的方式召开。会议应参会董事 9 名，实际参会董事 9 名。会议召开的时间、地点及方式均符合《公司法》《公司章程》及《公司董事 会议事规则》的有关规定。经与会董事审议，表决通过以下决议： 一、审议通过《关于公司参与张家界旅游集团股份有限公司重整投资暨关 联交易的议案》 本次议案事项构成关联交易，公司关联董事王艳忠、朱皓峰、杨贇、付维刚、 申波、彭爱辉对本议案回避表决。相关内容详见公司同日在巨潮资讯网披露的《湖 南电广传媒股份有限公司关于公司参与张家界旅游集团股份有限公司重整投资 暨关联交易的公告》（公告编号：2025-32）。 本议案需提交公司股东大会审议。 股票代码：000917 股票简称：电广传媒 公告编号：2025-30 本议案需提交公司股东大会审议。 表决结果：同意 ...

Core Viewpoint - *ST Zhanggu (000430.SZ) has signed a restructuring investment agreement with several investors, indicating a strategic move towards financial recovery and operational restructuring [1] Group 1: Company Overview - The company has entered into a restructuring investment agreement with multiple parties, including Hunan Electric Media Co., Ltd., Hunan Mango Cultural Tourism Investment Co., Ltd., and others [1] - The agreement involves various investors such as Shenzhen Dacheng Caizhi Venture Capital Management Co., Ltd., Zhangjiajie Industrial Investment (Holding) Co., Ltd., and others, highlighting a collaborative effort for restructuring [1] Group 2: Industry Context - The involvement of multiple investment firms and media companies suggests a trend in the industry towards consolidation and strategic partnerships to enhance operational efficiency and financial stability [1]

Market Overview - The participation fund sector declined by 0.53% on November 14, with Changjiang Securities leading the drop [1] - The Shanghai Composite Index closed at 3990.49, down 0.97%, while the Shenzhen Component Index closed at 13216.03, down 1.93% [1] Individual Stock Performance - Notable gainers included: - Zhongshun Group (Code: 000039) with a closing price of 8.94, up 9.96% [1] - Guomai Technology (Code: 002093) with a closing price of 11.90, up 2.15% [1] - Major decliners included: - Changjiang Securities (Code: 000783) with a closing price of 8.80, down 2.98% [2] - Huatai Securities (Code: 601688) with a closing price of 22.17, down 2.93% [2] Capital Flow Analysis - The participation fund sector experienced a net outflow of 2.136 billion yuan from institutional investors, while retail investors saw a net inflow of 1.242 billion yuan [2] - The overall capital flow indicated that speculative funds had a net inflow of 894 million yuan [2] Detailed Capital Flow by Stock - Key stocks with significant capital flow: - Zhongshun Group had a net inflow of 597 million yuan from institutional investors, but a net outflow of 378 million yuan from speculative funds [3] - Industrial and Commercial Bank of China (Code: 601398) saw a net inflow of 145 million yuan from institutional investors [3] - Other stocks like Northeast Securities (Code: 000686) and Hanhua Technology (Code: 600226) showed mixed capital flows with both inflows and outflows from different investor types [3]

Core Viewpoint - The stock of Electric Broad Media has experienced a decline of 2.11% on November 12, with a current price of 8.35 CNY per share and a market capitalization of 11.837 billion CNY [1] Financial Performance - For the period from January to September 2025, Electric Broad Media achieved a revenue of 3.19 billion CNY, representing a year-on-year growth of 16.32%. The net profit attributable to shareholders was 132 million CNY, showing a significant increase of 116.61% year-on-year [2] Shareholder Information - As of September 30, 2025, the number of shareholders for Electric Broad Media was 76,800, a decrease of 14.36% from the previous period. The average number of circulating shares per shareholder increased by 16.77% to 18,447 shares [2] Dividend Distribution - Since its A-share listing, Electric Broad Media has distributed a total of 695 million CNY in dividends, with 85.05 million CNY distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, the third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 15.2241 million shares, an increase of 7.3903 million shares from the previous period. The fifth-largest shareholder is Southern CSI 1000 ETF, holding 12.9581 million shares, which decreased by 139,900 shares [3]

Group 1 - The core viewpoint of the article is that the company, Dianguang Media, has confirmed that its goodwill primarily stems from the acquisition of Shanghai Jiuzhirun, which is performing steadily and showing good results [2] Group 2 - The company responded to investor inquiries on November 11, indicating confidence in the operational stability and performance of Shanghai Jiuzhirun [2]

Group 1 - The company is actively promoting structural adjustments in its advertising business [2] - In the first three quarters of 2025, despite a decline in traditional advertising, community property advertising and information flow business showed significant growth [2] - Overall revenue from the advertising business still achieved growth, while the loss margin was significantly narrowed [2]

Market Overview - The television broadcasting sector increased by 0.18% compared to the previous trading day, with Jishi Media leading the gains [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Stock Performance - Jishi Media (601929) closed at 4.47, up 5.67%, with a trading volume of 6.6973 million shares and a transaction value of 2.989 billion [1] - Hailiang Co. (301262) closed at 26.13, up 2.39%, with a trading volume of 100,700 shares and a transaction value of 262 million [1] - Wireless Media (301551) closed at 38.46, up 1.58%, with a trading volume of 62,900 shares and a transaction value of 24.2 million [1] - Other notable stocks include Liujin Technology (920021) at 6.97 (+1.46%), Huashu Media (000156) at 8.08 (+0.87%), and Dianguang Media (000917) at 8.62 (+0.58%) [1] Capital Flow - The television broadcasting sector saw a net inflow of 117 million from institutional investors, while retail investors experienced a net outflow of 94.8857 million [2][3] - Jishi Media had a net inflow of 32.2 million from institutional investors, but a net outflow of 102 million from retail investors [3] - Other stocks like Hailiang Co. and Dianguang Media also experienced mixed capital flows, with Hailiang Co. seeing a net inflow of 22.8323 million from institutional investors [3]

Core Viewpoint - The stock of Electric Broad Media has experienced fluctuations, with a recent decline of 2.06% and a year-to-date increase of 21.28%, indicating volatility in its market performance [1][2]. Company Overview - Electric Broad Media, established on January 26, 1999, and listed on March 25, 1999, is based in Changsha, Hunan Province. The company specializes in various sectors including advertising, film production, e-commerce, and investment management [1]. - The main revenue sources for Electric Broad Media are advertising operations (65.66%), investment management (12.73%), gaming (12.50%), tourism (5.87%), hotel services (3.29%), art (0.03%), film production and distribution (0.02%), and real estate (0.01%) [1]. Financial Performance - For the period from January to September 2025, Electric Broad Media reported a revenue of 3.19 billion yuan, reflecting a year-on-year growth of 16.32%. The net profit attributable to shareholders was 132 million yuan, showing a significant increase of 116.61% compared to the previous year [2]. - The company has distributed a total of 695 million yuan in dividends since its A-share listing, with 85.05 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, Electric Broad Media had 76,800 shareholders, a decrease of 14.36% from the previous period. The average number of circulating shares per shareholder increased by 16.77% to 18,447 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 15.22 million shares, an increase of 7.39 million shares from the previous period. Southern CSI 1000 ETF and Huaxia CSI 1000 ETF have seen slight reductions in their holdings [3].

Market Performance - The television broadcasting sector increased by 4.65% compared to the previous trading day, with Oriental Pearl leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Individual Stock Performance - Oriental Pearl (600637) closed at 10.67, with a rise of 10.00% and a trading volume of 2.0097 million shares, amounting to a transaction value of 2.11 billion [1] - Jishi Media (626109) also saw a 10.00% increase, closing at 4.07 with a trading volume of 3.4699 million shares and a transaction value of 1.386 billion [1] - Other notable performers include Hubei Broadcasting (000665) with a 5.63% increase, closing at 6.38, and Guangxi Broadcasting (600936) with a 3.89% increase, closing at 3.74 [1] Capital Flow Analysis - The television broadcasting sector experienced a net inflow of 745 million from institutional investors, while retail investors saw a net outflow of 417 million [1] - The capital flow data indicates that Jishi Media had a net inflow of 476 million from institutional investors, while it faced a net outflow of 207 million from speculative funds [2] - Oriental Pearl had a net inflow of 209 million from institutional investors but a net outflow of 120 million from speculative funds [2]

Company Overview - Hunan Electric Broad Media Co., Ltd. was established in 1998 and listed on the Shenzhen Stock Exchange in 1999, recognized as the first cultural media company to go public in China [2] - The company focuses on cultural tourism, investment, advertising, and gaming, with operations centered in major cities like Changsha, Beijing, Shanghai, Guangzhou, and Shenzhen [2] - Achieved a revenue of CNY 3.19 billion in the first three quarters of 2025, a year-on-year increase of 16.32%, and a net profit of CNY 132 million, up 116.61% [2] Cultural Tourism Development - The company aims to establish the largest cultural tourism investment platform in Hunan and rank among the top 20 tourism enterprises in China [3] - The "Mango Cultural Tourism" initiative has successfully launched 10 projects across 8 cities in Hunan, including theme parks and cultural complexes [3] - In the first half of 2025, the cultural tourism sector received 4.12 million visitors, a 97% increase year-on-year [3] Project Highlights - The "Xiangxiang Star Action" initiative has led to the opening of several projects, including the Anhua Tea Horse Ancient Road and Huaihua Yushuwan Youth Square, attracting over 200 million visitors during the National Day holiday [3][4] - The Anhua Tea Horse Ancient Road project received approximately 15,000 visitors during the May Day holiday, setting new records for visitor numbers and revenue [3] - The Hengyang Dongzhou Island project has welcomed nearly 4.5 million visitors since its trial operation began in September 2024 [4] Financial Performance - Changsha World Park reported a revenue of CNY 79.11 million in the first half of 2025, a 15.99% increase, with a net profit of CNY 9.76 million, up 71.51% [5] - The park has maintained profitability for over 20 years, enhancing its operational capabilities and continuously upgrading its attractions [5] Investment Strategy - Dacheng Caizhi focuses on long-term, professional, and value-driven investments, with a portfolio of nearly CNY 66 billion and over 800 invested companies [6] - The firm emphasizes investments in emerging sectors such as AI, robotics, and biotechnology, with a particular focus on early-stage application projects [6] Advertising and Gaming Business - Despite a decline in traditional advertising, the company achieved significant growth in advertising revenue in the first three quarters of 2025, driven by community property ads and information flow business [9] - The gaming segment, led by Shanghai Jiuzhirun, generated approximately CNY 360 million in revenue in the first three quarters, with expectations to maintain performance compared to the previous year [8]