Core Viewpoint - The announcement indicates that shareholder Ren Hangzhong has reduced his stake in Guangbo Group Co., Ltd. to below 10%, specifically to 9.99999% from 10.29280% [1][1]. Summary by Sections 1. Basic Information on Equity Change - Ren Hangzhong has reduced his shareholding by 1,564,400 shares through a block trade, representing a decrease of 0.29281% [1][1]. - The total number of shares held by Ren Hangzhong after the reduction is 53,427,232 shares [1][1]. 2. Shareholding Situation Before and After the Change - Before the reduction, Ren Hangzhong held 54,991,632 shares, which accounted for 10.29280% of the total share capital [1][1]. - After the reduction, his holdings decreased to 53,427,232 shares, now representing 9.99999% of the total share capital [1][1]. - The number of unrestricted shares held by Ren Hangzhong decreased from 13,747,908 shares (2.57320%) to 12,183,508 shares (2.28039%) [1][1]. 3. Other Situational Explanations - The reduction does not trigger a mandatory tender offer and will not lead to any changes in the control of the listed company [1][1]. - The company confirms that the reduction complies with relevant laws and regulations, and there are no violations of shareholding lock-up commitments [1][1].

Core Viewpoint - The report outlines a significant reduction in shareholding by Ren Hangzhong in Guangbo Group Co., Ltd., decreasing his stake to below 10% due to personal financial needs, with a planned reduction of up to 1,054,220 shares through block trading from May 29 to August 28, 2025 [1][4][5]. Group 1: Shareholding Changes - Ren Hangzhong held 54,991,632 shares, representing 10.29280% of the total share capital before the reduction [5][7]. - After the reduction, Ren Hangzhong's holdings decreased to 53,427,232 shares, which is 9.99999% of the total share capital [5][7]. - The reduction was executed through block trading on the Shenzhen Stock Exchange, with a specific transaction of 1,564,400 shares on June 30, 2025, at an average price of 11.47 RMB per share [5][7]. Group 2: Future Plans - The company disclosed a plan for Ren Hangzhong to reduce his holdings further, with no current plans to increase or decrease his stake beyond the disclosed reduction [4][8]. - The report indicates that if any changes occur in the future that require disclosure, Ren Hangzhong will comply with relevant legal obligations [4][8]. Group 3: Regulatory Compliance - The report was prepared in accordance with the Company Law, Securities Law, and relevant regulations, ensuring that all necessary authorizations and approvals were obtained [1][3]. - Ren Hangzhong has committed that the report does not contain false records or misleading statements, taking legal responsibility for its accuracy and completeness [3][9].

Core Points - The company Guangbo Co., Ltd. (002103) announced that shareholder Ren Hangzhong reduced his shareholding due to personal financial needs, decreasing his stake from 10.29280% to 9.99999% [1] - The reduction was executed through a block trade, with the reduction period ending on June 30, 2025, involving a total of 1.5644 million shares, which represents 0.29281% of the total share capital [1] - After the reduction, Ren Hangzhong holds 53.4272 million shares in the company, and this transaction does not trigger a mandatory bid and will not lead to changes in the company's controlling shareholder or actual controller [1]

股票上市地点：深圳证券交易所 广博集团股份有限公司简式权益变动报告书 广博集团股份有限公司 简式权益变动报告书 上市公司名称：广博集团股份有限公司 股票简称：广博股份 股票代码：002103 信息披露义务人：任杭中 住所：河南省唐河县****** 通讯地址：北京市通州区金融街 股份变动性质：股份减少（持股比例减少至 10%以下） 签署日期：二零二五年七月 1 广博集团股份有限公司简式权益变动报告书 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国公司法》、《中华人民共和国证券 法》（简称"《证券法》"）、《上市公司收购管理办法》（简称"《收购办法》"）、《公 开发行证券的公司信息披露内容与格式准则第 15 号——权益变动报告书》（简称 "《15 号准则》"）及相关的法律、法规编制本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准；其履行亦不违 反信息披露义务人章程或内部规章中的任何条款，或与之冲突。 三、依据《证券法》、《收购办法》规定，本报告书已全面披露信息披露义务 人在广博集团股份有限公司（简称"广博股份"）中拥有权益的股份变动情况。 截至本报告书签署之日，除本报告书披露的信息外， ...

证券代码：002103 证券简称：广博股份 公告编号：2025-034 广博集团股份有限公司 关于公司股东持股比例变动至 10%以下的提示性公告 信息披露义务人任杭中先生保证向本公司提供的信息内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1、本次权益变动系公司持股5%以上股东任杭中先生因个人资金 需求减持公司股份，本次权益变动不触及要约收购。 1 信息披露 义务人 减持方式 减持期间 减持股数（股） 减持比例 股份来源 任杭中 大宗交易 2025 年 6 月 30 日 1,564,400 0.29281% 非公开发行 股份 一、 本次权益变动基本情况 三、其他情况说明 1、本次权益变动未违反《证券法》《上市公司收购管理办法》 《上市公司股东减持股份管理暂行办法》《上市公司董事、监事和高 级管理人员所持本公司股份及其变动管理规则》《深圳证券交易所上 市公司自律监管指引第18号——股东及董事、监事、高级管理人员减 持股份》等法律、法规及规范性文件的规定，亦不存在违反股东股份 锁定及减持相关承诺的情况。 2、本次权益变动 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The report emphasizes the potential of AI applications in video understanding and generation, particularly through the launch of Kwai Keye-VL by Kuaishou, which showcases advanced multimodal capabilities [5] - The report suggests continued investment in the gaming sector, particularly with the recent approval of numerous domestic game licenses, indicating a favorable environment for new game launches [6] - The upcoming summer season is expected to boost consumption in various IP sectors, including games, animated films, concerts, and trendy toys, with specific recommendations for companies in these areas [6] Summary by Sections Industry Data Overview - "Delta Action" ranked first in the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of June 28, 2025 [13][17] - The film "Sauce Garden Case" achieved the highest box office for the week, grossing 1.64 billion [28] Industry News Overview - AI advancements in embodied intelligence and brain-computer interfaces are highlighted, with ongoing releases in gaming and film sectors [35] - The report notes the launch of Gemini, the first model capable of running locally on robots, enhancing task adaptability and efficiency [35] Company Recommendations - For AI video applications, key recommendations include Kuaishou-W, Shanghai Film, and Tencent Holdings, with beneficiaries like Alibaba-W and Kunlun Wanwei [5] - In the gaming sector, companies such as Xindong Company, Giant Network, and Perfect World are recommended, with beneficiaries including Youyi Time and Kingsoft [6] - For animated films, Shanghai Film is highlighted, while beneficiaries include Zhongwen Online [6] - In the concert and performance sector, Fengshang Culture is recommended, with beneficiaries like Alibaba Pictures and Maoyan Entertainment [6] - The trendy toy sector recommends Blukoo and Aofei Entertainment, with beneficiaries including Pop Mart and Quantum Song [6]

Group 1: Company Overview and Product Development - The company has a diverse range of IP resources, including popular external licensed IPs such as "Detective Conan," "Anpanman," and "Jujutsu Kaisen," which effectively attract consumers due to their built-in fan base [2][3] - The company is actively developing plush keychains in collaboration with "Detective Conan," with market launch already achieved [5] - Future plans include creating a diverse IP matrix and developing unique cultural and trendy products [3] Group 2: Marketing and Promotion Strategies - The company constructs marketing matrices based on different IP characteristics, launching new products in conjunction with relevant events, such as the release of "Detective Conan: The Phantom of the Eye" [6] - Participation in industry exhibitions, like the 2025 Bilibili World Digital Entertainment and Animation Culture Expo, aims to enhance immersive experiences and strengthen the IP commercialization operation [6] Group 3: Financial Performance and Risk Management - In 2024, the company's overseas revenue accounted for 28.07%, while domestic revenue was 71.93%, indicating a stronger domestic market presence [7] - The company has established overseas production bases in Vietnam, Cambodia, and Malaysia, with Vietnam and Cambodia generating 4.51 billion RMB in revenue, representing 63.97% of the company's overseas income from educational and office supplies [8] - Strategies to mitigate the impact of U.S. tariffs include increasing domestic supply, enhancing product value through innovation, and actively seeking new customers through international exhibitions [8]

Summary of Guangbo Co., Ltd. Conference Call Company Overview - Guangbo Co., Ltd. has a domestic sales ratio of 70%, with office direct sales accounting for 60%, IP cultural and creative business at 7%, and foreign sales and cross-border e-commerce close to 30% [2][3]. Key Points and Arguments Business Structure and Focus - In 2024, Guangbo Co., Ltd. restructured its business by reducing its internet marketing operations and focusing on stationery and domestic office direct sales [3]. - The company is accelerating its transformation towards the IP cultural and creative business, emphasizing product development and channel expansion [3]. Profitability and Growth Expectations - The gross margin for the IP cultural and creative business exceeds 43%, significantly higher than other business segments [4]. - The company anticipates overall profit growth driven by the rapid expansion of the IP cultural and creative business, with a projected compound annual growth rate (CAGR) of 20% to 30% [5][4]. Market Potential - The Chinese IP derivative market is valued at nearly 200 billion yuan, expected to maintain steady growth due to the rise of domestic IP, expansion of retail channels, and low penetration rates [2][7]. - The primary consumer group for IP derivatives is the Z generation (ages 15-29), who show a strong inclination towards emotional consumption [8][9]. Competitive Advantages - Guangbo Co., Ltd. has established advantages in paper product printing and supply chain management, leveraging its experience in product design through proprietary brands and IP collaborations [6][14]. - The company has successfully created popular products, facilitating easier access to subsequent IPs [6]. Consumer Behavior - The target audience for Guangbo's products includes young women aged 18-22, who purchase items to express support for their favorite IP content and for social interaction [9]. - Emotional consumption is becoming a necessity for this demographic, driven by factors such as work pressure and changing social dynamics [9]. Industry Trends - The rise of domestic IP content, including films, animations, and mobile games, is positively impacting the demand for cultural and creative products [10]. - The number of cultural and creative stores in China has been steadily increasing since 2025, indicating a positive trend for the IP derivative industry [11]. Global Market Position - China's IP derivative market accounts for about 10% of the global market, with significant potential for domestic companies to expand internationally [11]. - There is a substantial growth potential for per capita spending on IP toys and cards in China compared to mature markets like North America and Japan [12]. Future Projections - Guangbo Co., Ltd. expects revenue growth of 10% to 15% and profit growth of 20% to 30% over the next three years, with a projected P/E ratio of 21 times in 2026, indicating room for valuation adjustments [17]. Additional Important Insights - The competitive landscape in the IP derivative market is fragmented, with opportunities for new entrants in various product categories [7][12]. - Guangbo Co., Ltd. has made significant progress in acquiring IP rights and expanding its product categories, including the introduction of new creative products [16].

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、误导性陈述或重大遗漏。 广博集团股份有限公司（以下简称"公司"）于2025年4月10日 召开了公司第八届董事会第十七次会议，并于2025年5月9日召开了 2024年度股东大会，审议通过了《关于使用闲置自有资金进行委托理 财的议案》，公司（包括全资子公司及控股子公司，下同）在不影响 正常经营资金需求和确保资金安全的前提下，使用部分闲置自有资金 进行委托理财，总额度不超过50,000万元人民币，投资期限不超过12 个月，在额度及期限范围内可循环滚动使用。具体内容详见2025年4 月12日公司刊登于《证券时报》及巨潮资讯网（www.cninfo.com.cn） 的《关于使用闲置自有资金进行委托理财的公告》。 根据上述决议，现将公司理财产品购买进展情况公告如下： 一、购买理财产品概况 公司于 2025 年 6 月 25 日以人民币 5,000 万元向华夏理财有限责 任公司（以下简称"华夏理财"）购买了人民币理财产品，并在不超 过 10,000 万元额度内滚动申购、赎回华夏理财销售的低风险理财产 品。主要内容如下： 证券代码: 002103 证券 ...

Event Overview - The first Shanghai International Animation Month will commence on July 4, featuring a collaboration of three major events: CCG EXPO (July 4-6), Bilibili World (July 11-13), and ChinaJoy (August 1-4) [1] - The event will host over a hundred themed activities and more than a thousand limited-edition merchandise, along with a series of cross-dimensional activities and the issuance of "dimension digital consumption vouchers" [1] - Major animation IPs such as Disney, LEGO, and Bandai Namco will participate, alongside domestic productions like "The Little Monster of Langlang Mountain" and "Linglong" [1] ChinaJoy Highlights - ChinaJoy, scheduled for August 1-4, is recognized as a premier event in the digital entertainment industry, covering games, animation, esports, smart hardware, and trendy toys [2] - The event will include several high-profile forums and unique activities such as a digital live shopping festival and the debut of the "China Audio-Visual Game Museum" [2] - A new theme area focusing on smart entertainment robots has opened for exhibitors, presenting significant opportunities for companies in the robotics and gaming sectors [2] CCG EXPO and Bilibili World - CCG EXPO is one of the largest comprehensive animation and gaming exhibitions in China, expecting over 500,000 attendees in 2024 and achieving an online transaction value of 284 million yuan [3] - Bilibili World, a major offline event hosted by the popular video platform Bilibili, anticipates 300,000 attendees and has doubled its exhibitor count, making it the largest anime convention in East Asia [3] Market Potential - The Chinese animation industry is undergoing significant structural changes driven by digital technology and cultural consumption upgrades, leading to a new development phase [4] - The industry has gained international recognition, with projections estimating the total output value of the Chinese animation industry to reach 423 billion yuan by 2025, representing a 457% increase from 2019 [5] Company Involvement - Companies such as 37 Interactive Entertainment, Perfect World, Giant Network, and others have participated in multiple editions of ChinaJoy and CCG EXPO [9] - Shunwang Technology has acquired the organizer of ChinaJoy, Hanwei Xinheng, indicating consolidation within the industry [9]