特此说明。 分众传媒信息技术股份有限公司董事会 2025 年 7 月 23 日 分众传媒信息技术股份有限公司（以下简称"公司"）拟以发行股份及支付 现金的方式购买张继学、重庆京东海嘉电子商务有限公司、百度在线网络技术（北 京）有限公司等 50 个交易对方持有的成都新潮传媒集团股份有限公司 100%的 股权（以下简称"本次交易"）。 根据《上市公司重大资产重组管理办法》（以下简称"《重组管理办法》"） 的规定，上市公司在十二个月内连续对同一或者相关资产进行购买、出售的，以 其累计数分别计算相应数额。已按照《重组管理办法》的规定编制并披露重大资 产重组报告书的资产交易行为，无须纳入累计计算的范围。中国证券监督管理委 员会对《重组管理办法》第十三条第一款规定的重大资产重组的累计期限和范围 另有规定的，从其规定。交易标的资产属于同一交易方所有或者控制，或者属于 相同或者相似的业务范围，或者中国证券监督管理委员会认定的其他情形下，可 以认定为同一或者相关资产。 公司在本次交易前十二个月内，不存在需纳入本次交易相关指标累计计算范 围的购买、出售资产的情况。 分众传媒信息技术股份有限公司董事会 关于本次交易前十二个月内购买 ...

分众传媒信息技术股份有限公司董事会 关于本次交易信息公布前公司股票价格波动情况的说明 分众传媒信息技术股份有限公司（以下简称"公司"）拟以发行股份及支付 现金的方式购买张继学、重庆京东海嘉电子商务有限公司、百度在线网络技术（北 京）有限公司等 50 个交易对方持有的成都新潮传媒集团股份有限公司 100%的 股权（以下简称"本次交易"）。 本次交易首次公告日为 2025 年 4 月 10 日，公司股票在本次交易公告日之前 20 个交易日的区间段为 2025 年 3 月 12 日至 2025 年 4 月 9 日。本次交易公告前 一交易日（2025 年 4 月 9 日）公司股票收盘价格为 6.53 元/股，本次交易公告前 第 21 个交易日（2025 年 3 月 11 日）公司股票收盘价格为 6.59 元/股，公司股票 在本次交易公告前 20 个交易日内相对于大盘、同行业板块的涨跌幅情况如下表 所示： | 项目 | 公告前第 | 21 | | 个交易日 | 公告前第 | 1 | 个交易日 | | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

分众传媒信息技术股份有限公司董事会 关于本次交易是否构成重大资产重组、关联交易及重组上市的说明 分众传媒信息技术股份有限公司（以下简称"公司"）拟以发行股份及支付现金 的方式购买张继学、重庆京东海嘉电子商务有限公司、百度在线网络技术（北京）有 限公司等 50 个交易对方持有的成都新潮传媒集团股份有限公司（以下简称"标的公 司"）100%的股权（以下简称"标的资产"）（以下简称"本次交易"）。 一、本次交易预计不构成重大资产重组 截至本说明出具日，标的资产的审计和评估工作尚未完成，根据截至《发行股份 及支付现金购买资产协议》签署日标的资产情况，经各方协商，初步确定本次交易标 的公司 100%股权预估值为人民币捌拾叁亿元（RMB8,300,000,000），预计本次交易未 达到《上市公司重大资产重组管理办法》规定的重大资产重组标准，不构成上市公司 重大资产重组。对于本次交易是否构成重大资产重组的具体认定，公司将在重组报告 书中予以详细分析和披露，最终以公司在本次交易的重组报告书中披露的情况为准。 三、本次交易不构成重组上市 本次交易前 36 个月，公司控制权未发生变更。本次交易完成前后，公司的控股 股东、实际控制 ...

2025 年 7 月 22 日，公司召开了第九届董事会第二次（临时）会议，审议通 过了《公司关于发行股份及支付现金购买资产暨关联交易方案的议案》《公司关 于<发行股份及支付现金购买资产暨关联交易预案（修订稿）>及其摘要的议案》 等本次交易方案调整后的相关议案，具体内容详见公司刊登于巨潮资讯网 （www.cninfo.com.cn）上的相关公告。 根据《上市公司重大资产重组管理办法》《上市公司证券发行注册管理办法》 《上市公司监管指引第 9 号——上市公司筹划和实施重大资产重组的监管要求》 《公开发行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产 重组》等相关法律、法规和规范性文件的要求，鉴于本次交易相关的审计、评估 等工作尚未完成，公司决定暂不召开审议本次交易相关事项的股东会。公司在相 关审计、评估等工作完成后，将再次召开董事会审议本次交易的相关事项，并依 照法定程序另行发布召开股东会的通知。 特此公告。 分众传媒信息技术股份有限公司董事会 2025 年 7 月 23 日 证券代码：002027 证券简称：分众传媒 公告编号：2025-050 分众传媒信息技术股份有限公司 关于暂不召开审议本 ...

证券代码：002027 证券简称：分众传媒 公告编号：2025-046 分众传媒信息技术股份有限公司 第九届董事会第二次（临时）会议决议公告 公司拟以发行股份及支付现金的方式购买张继学、重庆京东海嘉电子商务有 限公司（以下简称"重庆京东"）、百度在线网络技术（北京）有限公司等 50 个 交易对方持有的成都新潮传媒集团股份有限公司（以下简称"标的公司"）100% 的股权（以下简称"标的资产"）（以下简称"本次交易"）。 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司重大资 产重组管理办法》《上市公司证券发行注册管理办法》《上市公司监管指引第 9 号 ——上市公司筹划和实施重大资产重组的监管要求》《深圳证券交易所上市公司 重大资产重组审核规则》等法律法规和规范性文件及《公司章程》的有关规定， 经对照公司实际情况和相关事项进行认真自查及分析论证，董事会认为本次交易 符合现行法律法规及规范性文件关于发行股份及支付现金购买资产的各项要求 及条件。 本议案已经公司独立董事专门会议、董事会审计委员会、董事会战略与可持 续发展委员会审议通过。 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，简明清 ...

Group 1 - The article highlights a new consumer interaction trend in over 20 cities, where consumers can receive cash red envelopes or various coupons by simply tapping their phones on a blue circle next to elevator advertisements [1][2] - This initiative, developed by Focus Media in collaboration with Alipay, leverages over 3 million elevator points and targets 400 million mainstream consumers in urban areas, effectively transforming elevator waiting times into valuable consumer engagement moments [2][4] - The program aims to stimulate economic activity by converting potential demand into purchasing power, thereby enhancing the daily lives of urban residents [2][4] Group 2 - The technology ensures safety by requiring users to unlock their phones and be within approximately 1 cm of the sensor to activate the reward system, preventing unauthorized access and financial risks [3] - The initiative has received positive feedback from urban residents, particularly office workers and community members, who appreciate the convenience and value added to their waiting time [3] - The collaboration aligns with national policies to expand domestic demand and invigorate consumer spending, with the potential to create a significant impact on local economies [4] Group 3 - The innovative model of "technology empowerment for livelihood" is seen as a way to integrate digital economy benefits into community and urban life, creating a new pathway for the deep integration of digital and real economies [4] - The initiative is expected to help small businesses navigate operational challenges while meeting citizens' aspirations for a better quality of life [4] - As more cities participate and additional benefits are introduced, the small action of "tapping" in elevator scenarios is anticipated to generate substantial market vitality [4]

Investment Rating - The report maintains an "Outperform" rating for the media industry [4][40]. Core Insights - The media sector experienced a decline of 1.58% this week, underperforming both the CSI 300 index (1.09%) and the ChiNext index (3.17%) [11][12]. - Key highlights include OpenAI's launch of the ChatGPT Agent, Anthropic's valuation exceeding $100 billion, and the introduction of new features in the Grok APP [14][16][40]. - The report emphasizes a positive outlook on AI applications and IP-driven products, particularly in gaming and media sectors [3][40]. Summary by Sections Industry Performance - The media industry ranked 28th in terms of weekly performance among all sectors, with notable gainers including Lansheng Co., Century Tianhong, and Focus Technology, while ST Zitian and JiBit suffered significant losses [11][13]. Key Data Tracking - The box office for the week (July 14-20) reached 719 million yuan, with top films being "The Lychee of Chang'an" (173 million yuan, 24.0% share), "Chatting with Ghosts: Lanruo Temple" (92 million yuan, 12.8% share), and "The Legend of the Little Black Cat 2" (89 million yuan, 12.3% share) [17][20]. Investment Recommendations - The report suggests focusing on gaming, advertising media, and film sectors, highlighting companies like Kaiying Network, Giant Network, and Yaoji Technology for gaming, and focusing on advertising growth from economic recovery for media companies like Focus Media and Bilibili [3][40]. - It also recommends IP-driven products, particularly in the toy sector, with companies like Pop Mart and Zhejiang Digital Culture being highlighted [3][40]. Company Earnings Forecasts - Key companies such as Kaiying Network, Focus Media, and Mango Super Media are projected to have positive earnings growth, with specific EPS estimates for 2025 and 2026 [4][42].

Group 1 - The core viewpoint of the article highlights the decline in fund sizes managed by prominent fund managers Zhang Kun and Xie Zhiyu during the second quarter, with Zhang's total fund size dropping to 55.047 billion yuan, a decrease of 5.775 billion yuan, and Xie's fund size at 39.266 billion yuan, down by approximately 446 million yuan [2] - Zhang Kun remains heavily invested in the consumer and technology sectors, increasing holdings in liquor stocks such as Wuliangye and Luzhou Laojiao, while reducing positions in Tencent Holdings and China Merchants Bank [2][3] - Xie Zhiyu has made new investments in Hong Kong innovative drug companies, including Innovent Biologics and Nuo Cheng Jianhua, while also increasing positions in his funds [2][12] Group 2 - Zhang Kun expressed that the pessimistic expectations in the market will eventually be broken, indicating that a sign of this would be when long-term government bond yields no longer remain at low levels that do not match economic development prospects [12] - Xie Zhiyu noted that the consumer sector is benefiting from an acceleration in policy subsidies, particularly in new consumption areas represented by tea drinks and trendy toys, although he cautioned that demand growth may face challenges in the second half of the year due to base effect declines [18] - The report indicates that Zhang Kun's flagship fund, E Fund Blue Chip, saw a decrease in size from 38.908 billion yuan to 34.943 billion yuan, with a stable stock position of 93.06% [3][5]

Core Viewpoint - The report highlights the performance and strategic adjustments of the Silver华心怡 fund managed by Li Xiaoxing, indicating a positive outlook for the second half of the year, particularly in technology and dividend stocks that have seen sufficient adjustments in the first half [1][4]. Fund Performance - In Q2 2025, the net asset value of Silver华心怡 increased by 557 million, reaching 5.947 billion, making it the largest fund managed by Li Xiaoxing [1]. - The fund's A and C share net value growth rates were 2.31% and 2.16%, respectively, slightly outperforming the benchmark return of 2.09% [1]. Stock Holdings - The stock allocation of Silver华心怡 slightly increased from 89.74% to 89.80% in Q2 [2]. - The top ten holdings include 中芯国际, 小米集团, 宁德时代, 中国移动, 分众传媒, 腾讯控股, 汇川技术, 中国联通, 中海油田服务, and 顺丰控股 [2][3]. - Notably, Guizhou Moutai and Alibaba exited the top ten holdings, while the fund significantly increased its positions in Xiaomi, 分众传媒, and 汇川技术 [3]. Market Outlook - Li Xiaoxing maintains an optimistic view for the second half of the year, focusing on technology stocks and dividend stocks that have not seen significant price increases [4]. - AI remains a central theme in global technological innovation, with strong demand for computing power in China and easing supply bottlenecks [4]. - The report emphasizes investment opportunities in AI hardware and domestic semiconductor advancements, particularly in advanced wafer manufacturing and packaging [4]. Sector Insights - The consumer sector is expected to see structural changes, with growth opportunities in new categories such as trendy toys and pets [5]. - The pharmaceutical sector is experiencing active performance, driven by the acceleration of domestic pharmaceutical upgrades and increasing international competitiveness [5]. - The banking sector is noted for its stable operations and improved asset quality, while the insurance sector is anticipated to recover from its most challenging period [5].

Group 1 - The core viewpoint of the articles highlights significant adjustments in the investment strategies of various fund managers, particularly focusing on new consumption, insurance, and military-related stocks [2][3][8] - Liu Gesong's funds reported a total scale of 31.295 billion yuan, with a decrease of approximately 900 million yuan compared to the previous quarter [3] - The performance of Liu Gesong's flagship fund, Guangfa Shuangqing Upgrade A/C, yielded returns of 0.63% and 0.54% in the second quarter, underperforming against its benchmark [3] Group 2 - The top ten heavy stocks in Liu Gesong's fund saw a concentration decrease, with the proportion of the top ten heavy stocks to net value dropping from 71.21% to 54.31% [3] - The fund optimized its industry allocation by increasing exposure to the automotive sector and military industry, which showed strong product performance amid escalating geopolitical conflicts [3] - The report indicated that five new stocks appeared in the top ten heavy stocks, including China Ping An, AVIC Chengfei, New China Life Insurance, Zijin Mining, and Jianghuai Automobile [4] Group 3 - Fund manager Wu Yuanyi made notable adjustments, reducing holdings in Pop Mart by 8.49% while increasing positions in Lao Pu Gold by 33.56% [9][10] - Wu Yuanyi's fund, Guangfa Growth Leading, achieved a remarkable return of 68.29% in the first half of the year, ranking seventh among all funds [8] - The top ten heavy stocks in Wu Yuanyi's fund included Pop Mart, Lao Pu Gold, and Jianghuai Automobile, with several new entries in the second quarter [8][10] Group 4 - The articles also discuss the broader market trends, indicating a shift towards high-cost performance and experiential consumption brands in the new consumption sector [11] - In the pharmaceutical innovation field, China has transitioned from auxiliary research to becoming a global leader in original innovative drugs [12] - The high-end manufacturing sector in China has made significant advancements, achieving a historical leap from being a product importer to an exporter in key areas such as precision processing and new energy vehicles [12]