Core Insights - ST Zhongqingbao is experiencing significant management turmoil, with four high-level personnel changes in 2025 alone, indicating instability within the company [1][2] - The company reported a 19.4% year-on-year decline in revenue for Q3 2025, with a net loss of 27.29 million yuan, reflecting ongoing operational challenges [1][3] - The shift from traditional gaming to a "gaming + cloud services" model has not yielded positive results, leading to strategic confusion and financial strain [6][7] Management Changes - The company has seen three changes in its board and senior management over the past year, including the resignation of non-independent director Li Yuanzhou for personal reasons [1][2] - Zhang Yunqin, aged 36, has taken over as board secretary, holding multiple roles including vice general manager and financial director, indicating a consolidation of responsibilities [2] - The recent departures highlight a trend of instability, with previous resignations occurring just four months prior [2] Financial Performance - For the first three quarters of 2025, ST Zhongqingbao reported revenues of 142 million yuan, down 19.4% year-on-year, while the net loss narrowed by 24.96% compared to the previous year [3] - In Q3 alone, revenue was 44.48 million yuan, a 19.86% decline, but the net loss was reduced to 2.64 million yuan, showing some improvement [3] - The company's gross margin improved to 31.13% from 26.64% in Q1, but cash flow from operating activities fell by 46.27% to 17.47 million yuan, primarily due to decreased sales collections [3] Business Structure and Challenges - The company's revenue structure is heavily skewed, with 64.69% coming from cloud computing and only 23.71% from gaming, indicating a reliance on a single revenue stream [4][5] - Both cloud computing and gaming sectors are underperforming, with cloud revenue down 22.93% and gaming revenue down 26.28% in the first half of 2025 [5] - The cloud computing segment has a low gross margin of 3.93%, significantly impacting overall profitability [5] Historical Issues - ST Zhongqingbao has faced regulatory scrutiny due to past financial disclosure violations, resulting in a 4 million yuan fine and a change in stock designation to "ST Zhongqingbao" [7] - The company has struggled with a tarnished reputation due to these historical issues, which complicate efforts to regain investor confidence [7] - Addressing the balance between business transformation and profitability, while stabilizing the management team, is crucial for the company's future [7]

Core Viewpoint - ST Zhongqingbao reported a decline in revenue and net profit for the third quarter of 2025, indicating ongoing financial challenges despite a reduction in losses compared to the previous year [1] Financial Performance - In Q3 2025, the company achieved operating revenue of 44.48 million yuan, a year-on-year decrease of 19.86% [1] - The net profit attributable to shareholders was a loss of 2.64 million yuan, which represents a 76.74% reduction in losses compared to the same period last year [1] - Basic earnings per share were a loss of 0.01 yuan [1] Year-to-Date Performance - For the first three quarters of 2025, the company reported operating revenue of 142 million yuan, down 19.40% year-on-year [1] - The net profit attributable to shareholders for the first three quarters was a loss of 27.29 million yuan, which is a 24.96% reduction in losses compared to the same period last year [1] - Basic earnings per share for the first three quarters were a loss of 0.10 yuan [1]

Core Insights - ST Zhongqingbao (300052.SZ) reported a significant decline in revenue and net profit for Q3 2025, indicating ongoing financial challenges [1] Financial Performance - The company's operating revenue for Q3 2025 was 44.48 million yuan, representing a year-on-year decrease of 19.86% [1] - The net profit attributable to shareholders of the listed company was -2.64 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -4.41 million yuan [1]

Core Viewpoint - ST Zhongqingbao (300052.SZ) reported a significant decline in revenue and net profit for the first three quarters of 2025, indicating financial challenges ahead [1] Financial Performance - The company achieved an operating revenue of 142 million yuan, representing a year-on-year decrease of 19.40% [1] - The net profit attributable to shareholders was -27.2881 million yuan, indicating a loss [1] - The net profit after deducting non-recurring gains and losses was -29.4081 million yuan [1] - The basic earnings per share stood at -0.10 yuan [1]

Core Viewpoint - ST Zhongqingbao (300052.SZ) reported a significant decline in revenue and net profit for Q3 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for Q3 2025 was 44.48 million yuan, representing a year-on-year decrease of 19.86% [1] - The net profit attributable to shareholders of the listed company was -2.64 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -4.41 million yuan [1]

Core Insights - The company reported a revenue of 44.48 million yuan for Q3 2025, representing a year-on-year decrease of 19.86% [1] - The net loss for Q3 2025 was 2.64 million yuan [1] - For the first three quarters of 2025, the company achieved a total revenue of 142 million yuan, which is a year-on-year decline of 19.4% [1] - The net loss for the first three quarters of 2025 amounted to 27.29 million yuan [1]

Core Insights - ST Zhongqingbao reported a revenue of 44.48 million yuan for Q3 2025, representing a year-on-year decline of 19.86% [1] - The net profit attributable to shareholders of the listed company was -2.64 million yuan, showing a year-on-year increase of 76.74% [1] Financial Performance - Revenue for Q3 2025: 44.48 million yuan, down 19.86% year-on-year [1] - Net profit for Q3 2025: -2.64 million yuan, up 76.74% year-on-year [1]

深圳中青宝互动网络股份有限公司 内部审计管理制度 第四条 本制度适用于本公司各内部机构或职能部门、控股子公司、分公司 以及具有重大影响的参股公司。 第二章 审计机构和审计人员 第五条 审计委员会下设审计部作为公司的内部审计机构。审计部在审计委 第一章 总则 第一条 为加强深圳中青宝互动网络股份有限公司（下称"本公司"或"公 司"）内部监督和风险控制，保障公司财务管理、会计核算和生产经营符合国家 各项法律法规要求，维护包括中小投资者股东的合法权益，根据《中华人民共和 国审计法》《中华人民共和国内部审计条例》《审计署关于内部审计工作的规定》 《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指 引第 2 号——创业板上市公司规范运作》及《深圳中青宝互动网络股份有限公司 章程》（以下简称《公司章程》）等公司各项规章制度，结合本公司的实际情况， 制定本制度。 第二条 本制度项下规定的内部审计是指由公司内部机构或人员，对公司内 部控制和风险管理的有效性、财务信息的真实性和完整性以及经营活动的效率和 效果等开展的一种评价活动。公司依法实行内部审计制度，以加强内部管理和监 督，遵守国家法规，维护公司合法权 ...

深圳中青宝互动网络股份有限公司 会计师事务所选聘制度 第一章 总则 第一条 为了规范深圳中青宝互动网络股份有限公司（以下简称"公司"）选 聘（含续聘、改聘）执行会计报表审计业务的会计师事务所相关行为，保证财务 信息的真实性和连续性，根据《中华人民共和国公司法》《中华人民共和国证券 法》《国有企业、上市公司选聘会计师事务所管理办法》以及《深圳中青宝互动 网络股份有限公司章程》（以下简称《公司章程》）等有关规定，结合公司实际 情况，制定本制度。 第二条 公司选聘执行会计报表审计业务的会计师事务所相关行为，应当遵 照本制度，履行选聘程序，披露相关信息。公司选聘会计师事务所从事除财务会 计报告审计之外的其他法定审计业务的，可参照本制度执行。 第三条 公司选聘会计师事务所应当经董事会审计委员会审议同意后，提交 董事会审议，并由股东会决定。公司不得在董事会和股东会审议前聘请会计师事 务所开展审计业务。 第四条 公司控股股东、实际控制人不得在公司董事会、股东会审议前，向 公司指定会计师事务所，也不得干预公司董事会审计委员会独立履行审核职责。 第二章 会计师事务所执业质量要求 第五条 公司选聘的会计师事务所应当具备以下资格： ...

深圳中青宝互动网络股份有限公司 募集资金管理制度 第一章 总则 第一条 为加强、规范深圳中青宝互动网络股份有限公司（以下简称"公 司"）募集资金的管理，提高资金使用效率和效益，根据《中华人民共和国公 司法》《中华人民共和国证券法》《上市公司募集资金监管规则》《深圳证券交 易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第2号— —创业板上市公司规范运作》等法律、行政法规、部门规章和《深圳中青宝互 动网络股份有限公司章程》（以下简称《公司章程》）的相关规定，结 合公司实际情况，特制定本制度。 第二条 募集资金是指公司通过发行股票及其衍生品种，向投资者募集并 用于特定用途的资金，但不包括公司实施股权激励计划募集的资金。募集的资 金须经具有证券从业资格的会计师事务所审验并出具验资报告。 第三条 公司董事会应根据公司发展战略、主营业务、市场形势和国家产业 政策等因素，对募集资金拟投资项目的可行性进行充分论证，明确拟募集 资金金额、投资项目、进度计划、预期收益等，确认投资项目具有较好的市场 前景和盈利能力，有利于公司有效防范投资风险，提高募集资金使用效益，并 提请公司股东会批准。 公司的董事和高级管理人员应 ...