本公司及监事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 一、监事会会议召开情况 证券代码：300148 证券简称：天舟文化 编号：2025-035 天舟文化股份有限公司 第四届监事会第二十一次会议决议公告 表决结果：3票同意，0票反对，0票弃权。 三、备注文件 第四届监事会第二十一次会议决议。 特此公告。 天舟文化股份有限公司监事会 二〇二五年十二月一日 天舟文化股份有限公司（以下简称"公司"）第四届监事会第二十 一次会议于2025年12月1日以通讯方式召开。会议通知于2025年11月26 日以电子邮件方式发出。会议由监事会召集人匡舒平女士主持，会议应 参与表决监事3名，实际参与表决监事3名。本次会议的召集和召开符合 《公司法》等有关法律、行政法规、部门规章、规范性文件及《公司章 程》的有关规定。 二、监事会会议审议情况 审议通过了《关于拟变更会计师事务所的议案》 为保证公司审计工作的独立性和客观性，同时综合考虑公司业务 发展对审计服务的需求等情况，公司拟变更审计机构，监事会经审议 后一致认为政旦志远（深圳）会计师事务所（特殊普通合伙）具备相 关业务资格，具备为上市 ...

证券代码：300148 证券简称：天舟文化 编号：2025-034 天舟文化股份有限公司 第四届董事会第二十九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 天舟文化股份有限公司（以下简称"公司"）第四届董事会第二十 九次会议于 2025 年 12 月 1 日以通讯方式召开，会议通知于 2025 年 11 月 26 日以电子邮件的方式发出。本次会议由公司董事长肖志鸿先 生主持，会议应出席董事 5 名，实际出席董事 5 名。本次会议的召集 和召开符合《中华人民共和国公司法》（以下简称"公司法"）等有关 法律、行政法规、部门规章、规范性文件及《天舟文化股份有限公司 章程》（以下简称"公司章程"）的有关规定。 二、董事会会议审议情况 （一）审议通过了《关于变更注册资本及修订<公司章程>的议 案》 为贯彻落实最新法律法规要求，进一步提升公司规范运作水平， 优化公司治理结构，根据《公司法》《上市公司章程指引》《关于新 <公司法>配套制度规则实施相关过渡期安排》《深圳证券交易所创业 板股票上市规则》等相关法律法规，并结合公司注册资 ...

Core Insights - The publishing sector experienced a rise of 0.94% on November 28, with notable gains from companies like DuKe Culture, which surged by 11.49% [1] - The Shanghai Composite Index closed at 3888.6, up 0.34%, while the Shenzhen Component Index closed at 12984.08, up 0.85% [1] Company Performance - DuKe Culture (301025) led the gains with a closing price of 11.74, reflecting an increase of 11.49% and a trading volume of 678,200 shares, amounting to 826 million yuan [1] - Reader Media (6668209) also performed well, closing at 7.95 with a rise of 9.96% and a trading volume of 275,000 shares, totaling 214 million yuan [1] - Other notable performers included Rongxin Culture (301231) with a 4.19% increase, closing at 35.27, and CITIC Publishing (300788) with a 3.27% rise, closing at 30.31 [1] Market Dynamics - The publishing sector saw a net inflow of 268 million yuan from institutional investors, while retail investors experienced a net outflow of 235 million yuan [2] - The overall trading activity indicated a mixed sentiment, with some stocks like Century Tianhong (300654) and Chinese Online (300364) showing declines of 1.37% and 0.91%, respectively [2][3] Capital Flow Analysis - DuKe Culture had a net inflow of 137 million yuan from institutional investors, while retail investors showed a net outflow of 64.57 million yuan [3] - Reader Media recorded a net inflow of 74.50 million yuan from institutional investors, with retail investors experiencing a net outflow of 45.53 million yuan [3] - Other companies like CITIC Publishing and Rongxin Culture also showed varying degrees of net inflows and outflows, indicating a diverse investor interest across the sector [3]

Investment Rating - The report maintains a "Recommended" investment rating for the media industry [4]. Core Insights - The media sector combines technology application and discretionary consumption, with a high proportion of "expectation" factors influencing valuations. The third quarter of 2025 saw an increase in EPS, leading to a shift towards PE-driven phases. The upcoming "14th Five-Year Plan" completion and the initiation of the "15th Five-Year Plan" are expected to drive new growth through state-owned enterprise reforms and technological advancements [3][14]. - The report highlights three key dimensions for investment focus: state-owned enterprise reform, the cinema sector in Q4 2025, and the new cycle of AI applications driving media sector valuations [3][14]. Summary by Sections 1. Industry Review - The media sector's performance from October 27 to October 31, 2025, showed varied results, with the Shanghai Composite Index and Shenzhen Component Index experiencing slight increases. The media sub-sectors had notable fluctuations, with BlueFocus and other companies showing significant gains [13][19]. 2. Key Company Recommendations - The report recommends several companies within the media sector, including: - Oriental Pearl (600637): Improved cash flow and AI-driven development [4]. - BlueFocus (300058): AI-driven revenue target of 3.47 billion to 4.7 billion for the year [4]. - Mango Excellent Media (300413): Recovery in advertising revenue [4]. - Wanda Film (002739): Focus on industry competition [4]. - Other notable mentions include CITIC Publishing (300788), Huace Film & TV (300133), and Shanghai Film (601595) [4]. 3. Financial Performance - The report indicates that the total net profit for the A-share media sector in Q3 2025 reached 10.079 billion, a 48% year-on-year increase, driven by low base effects and new product launches [14]. 4. AI and Technology Integration - The report emphasizes the ongoing exploration of AI's potential in the media sector, with companies leveraging AI for content creation and operational efficiency. The integration of AI is expected to enhance revenue generation and valuation in the media industry [15][16]. 5. Market Dynamics - The report notes that the film market is experiencing a resurgence, with significant box office revenues and a growing number of films being produced and released. The micro-drama sector is also expanding rapidly, indicating a shift in consumer demand towards shorter, more engaging content [29][30]. 6. E-commerce Trends - E-commerce platforms are adapting to consumer preferences, with innovations in product offerings and service models. The report highlights the competitive landscape among major players like Alibaba, JD, and Pinduoduo, particularly during promotional events like Double 11 [24][25]. 7. Future Outlook - The report anticipates that the media sector will continue to benefit from technological advancements and policy support, particularly in the context of the "15th Five-Year Plan" aimed at cultural and technological integration [16]. 8. Company Performance Forecasts - The report provides earnings per share (EPS) and price-to-earnings (PE) forecasts for various companies, indicating a generally positive outlook for the media sector [8].

Group 1 - The core viewpoint of the news is that Tianzhou Culture (300148.SZ) has reported its Q3 2025 results, highlighting the current institutional and public fund holdings in the company [1][2][3] Group 2 - As of October 28, 2025, five institutional investors hold a total of 135 million shares of Tianzhou Culture, accounting for 16.05% of the total share capital, with a slight decrease of 0.12 percentage points compared to the previous quarter [1] - The public funds that increased their holdings this period include Huaxia CSI Animation Game ETF and Guotai CSI Animation Game ETF, with an increase ratio of 0.56% [2] - One new public fund disclosed this period is the Dacheng CSI 360 Internet + Index A, while 48 public funds were not disclosed again, including notable funds like Huatai-PineBridge Consumption Industry Mixed and CITIC Prudential Multi-Strategy Mixed [2] - From the foreign investment perspective, Barclays Bank PLC is noted as an institution that has not disclosed its holdings this period [3]

Core Viewpoint - Tianzhou Culture (300148.SZ) reported a significant increase in both revenue and net profit for the first three quarters of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue for the first three quarters reached 292 million yuan, representing a year-on-year growth of 20.62% [1] - The net profit attributable to shareholders of the listed company was 55.96 million yuan, showing a remarkable year-on-year increase of 166.94% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 53.43 million yuan, reflecting a substantial year-on-year growth of 262.34% [1] - Basic earnings per share stood at 0.07 yuan [1]

Revenue and Profit - Revenue for Q3 2025 reached ¥43,115,437.17, an increase of 22.82% year-over-year, while year-to-date revenue totaled ¥291,632,714.03, up 20.62% compared to the same period last year[7] - Net profit attributable to shareholders for Q3 2025 was ¥4,283,362.00, representing a significant increase of 126.64% year-over-year, with year-to-date net profit reaching ¥55,955,847.06, up 166.94%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,066,454.64 for Q3 2025, a staggering increase of 3812.85% year-over-year, with year-to-date figures at ¥53,433,974.63, up 262.34%[7] - Basic and diluted earnings per share for Q3 2025 were both ¥0.01, reflecting a 400.00% increase compared to the same period last year, while year-to-date earnings per share were ¥0.07, up 180.00%[7] - Total operating revenue for the third quarter reached ¥291,632,714.03, an increase of 20.7% compared to ¥241,774,161.46 in the same period last year[27] - Net profit for the period was ¥53,874,834.03, representing a significant increase from ¥16,547,102.32 in the previous year, marking a growth of 225.5%[28] - The company's operating profit was ¥60,762,301.49, compared to ¥21,389,027.90 in the same quarter last year, reflecting a growth of 184.5%[28] - Total comprehensive income amounted to CNY 52,629,282.56, compared to CNY 16,121,549.98 in the previous period, reflecting a significant increase[29] - Basic and diluted earnings per share were both CNY 0.07, up from CNY 0.025 in the prior period, indicating improved profitability[29] Assets and Liabilities - Total assets at the end of Q3 2025 amounted to ¥1,480,852,752.46, a 3.79% increase from the end of the previous year[7] - The total assets of the company as of the end of the reporting period were ¥1,480,852,752.46, an increase from ¥1,426,823,900.80 at the end of the previous period[25] - The total liabilities decreased to ¥316,827,994.59 from ¥357,291,620.65, indicating a reduction of 11.3%[25] - Shareholders' equity attributable to the parent company reached ¥1,031,118,753.80, marking a 10.09% increase from the end of the previous year[7] - The equity attributable to shareholders of the parent company increased to ¥1,031,118,753.80 from ¥936,641,860.40, showing a growth of 10.1%[25] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥9,290,583.34, a significant increase of 110.92% compared to the same period last year[7] - Cash inflow from operating activities was CNY 338,948,098.23, an increase from CNY 292,599,062.44 year-over-year[30] - Net cash flow from operating activities was CNY 9,290,583.34, a recovery from a negative CNY 85,104,525.34 in the previous period[31] - Cash inflow from investment activities totaled CNY 945,969,704.83, down from CNY 1,417,199,261.53 in the prior year[31] - Net cash flow from investment activities was negative CNY 9,473,309.92, compared to negative CNY 113,974,242.36 previously, indicating reduced cash outflow[31] - Cash flow from financing activities generated a net inflow of CNY 923,931.87, a recovery from a negative CNY 35,706,310.63 in the previous period[31] - The ending cash and cash equivalents balance was CNY 315,432,416.07, down from CNY 361,186,092.87 at the end of the previous period[31] - The company's cash and cash equivalents at the end of the period amount to ¥315,433,177.84, a slight decrease from ¥316,410,030.26 at the beginning of the period[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 47,485[17] - The largest shareholder, Hunan Jiachang Investment Co., Ltd., holds 11.74% of the shares, totaling 98,940,202 shares[17] - The second-largest shareholder, Yuan Xionggui, holds 3.40% of the shares, totaling 28,658,819 shares[17] - The total number of restricted shares at the end of the period is 29,043,447 shares, with 5,116,561 shares released from restriction during the period[20] - There are no changes in the number of preferred shareholders or their holdings during the reporting period[19] Operational Metrics - The company reported a decrease in accounts receivable by 62.76%, primarily due to the collection of receivables from the previous year[13] - Inventory increased by 40.17% to ¥37,321,647.44, mainly due to the procurement of youth-related books and educational materials[13] - Research and development expenses for the quarter were ¥6,028,047.42, down from ¥7,402,466.29, indicating a decrease of 18.5%[28] - The company reported an investment income of ¥47,835,368.57, significantly higher than ¥7,080,423.78 in the previous year, marking a growth of 576.5%[28] - Accounts receivable decreased significantly from ¥43,425,329.11 to ¥16,170,483.22, indicating a reduction of about 62.8%[23] - Prepayments increased from ¥16,750,777.75 to ¥25,031,530.52, showing an increase of approximately 49.3%[23] Future Plans - The company has announced plans for a stock option and restricted stock incentive plan for 2024[21]

Core Insights - The "China Cultural Industry Competitiveness Top 100 District Index (2025)" was released, highlighting the strong cultural industry performance of Changsha, with four districts ranked in the top 30 [1][3] - Among these, Kaifu District ranked 5th nationally in the comprehensive index, showcasing its robust cultural soft power [1][4] Group 1: Cultural Industry Competitiveness - The index evaluates cultural industry development at the district level based on productivity, influence, and driving force [3] - Kaifu District achieved a high cultural productivity index, ranking 4th nationally, and an influence index ranking 5th [1][4] Group 2: Integration of Culture and Technology - Kaifu District is implementing a "Cultural + Technology" development model, forming a digital cultural industry ecosystem characterized by high-tech video [6][8] - The district has established a global influence in the digital video industry, integrating content creation, production, storage, broadcasting, and trading [8] Group 3: Cultural and Tourism Integration - The district promotes a "Cultural + Tourism" strategy, enhancing the quality of the tourism industry through cultural initiatives [9] - Plans include a comprehensive cultural tourism development strategy and actions to expand cultural product offerings [9]

Core Insights - The publishing sector experienced a rise of 1.46% on October 23, with Rongxin Culture leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index also rose by 0.22% to 13025.45 [1] Publishing Sector Performance - Rongxin Culture saw a significant increase of 20.01%, closing at 38.03, with a trading volume of 162,600 shares and a transaction value of 585 million [1] - Other notable performers included: - Zhongwen Online, up 6.28% to 27.58, with a transaction value of 2.336 billion [1] - Guomai Culture, up 4.31% to 47.40, with a transaction value of 786 million [1] - Duku Culture, up 3.64% to 9.96, with a transaction value of 159 million [1] - The total net inflow of funds in the publishing sector was 313 million, while retail investors saw a net outflow of 147 million [1] Fund Flow Analysis - Zhongwen Online had a net inflow of 303 million from institutional investors, representing 12.97% of its total trading [2] - Rongxin Culture experienced a net inflow of 70.7 million from institutional investors, accounting for 12.08% [2] - Guomai Culture had a net inflow of 46.3 million from institutional investors, making up 5.89% [2] - Retail investors showed a net outflow across several stocks, with Duku Culture seeing a net outflow of 29.4 million, which is 18.48% of its total trading [2]

Market Overview - The publishing sector increased by 1.04% on October 21, with Rongxin Culture leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Individual Stock Performance - Rongxin Culture (301231) saw a significant rise of 20.00%, closing at 30.60 with a trading volume of 206,300 shares and a transaction value of 600 million yuan [1] - Ning Media (002181) increased by 5.20%, closing at 9.10 with a trading volume of 1,011,900 shares [1] - Longban Media (605577) rose by 3.89%, closing at 13.90 with a trading volume of 56,700 shares [1] - Other notable performers include: - Publishing Media (666109) up 3.80% to 7.11 - Tianzhou Culture (300148) up 3.35% to 4.63 - City Media (600229) up 2.44% to 6.71 [1] Capital Flow Analysis - The publishing sector experienced a net inflow of 77.58 million yuan from institutional investors, while retail investors saw a net outflow of 31.81 million yuan [2] - Major stocks with significant net inflows include: - Zhongwen Online (300364) with a net inflow of 64.29 million yuan [3] - Changjiang Media (600757) with a net inflow of 31.98 million yuan [3] - Conversely, stocks like Rongxin Culture (301231) and Tianzhou Culture (300148) experienced net outflows from retail investors [3]