证券之星消息，8月5日出版板块较上一交易日上涨0.58%，荣信文化领涨。当日上证指数报收于3617.6， 上涨0.96%。深证成指报收于11106.96，上涨0.59%。出版板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300788 中信出版 | | -2400.27万 | 10.19% | 956.98万 | 4.06% | -3357.24万 | -14.25% | | 600551 时代出版 | | 1832.39万 | 6.30% | 1198.05万 | 4.12% | -3030.44万 | -10.42% | | 300148 天舟文化 | | 1689.94万 | 5.24% | -552.65万 | -1.71% | -1137.29万 | -3.52% | | 603999 读者传媒 | | 1320.99万 | 5.43% | 1161.16万 | 4.77% | -248 ...

天眼查商业履历信息显示，天舟文化股份有限公司，成立于2003年，位于长沙市，是一家以从事新闻和 出版业为主的企业。企业注册资本83533.9343万人民币，实缴资本83533.9343万人民币。公司法定代表 人为肖志鸿。 通过天眼查大数据分析，天舟文化股份有限公司共对外投资了35家企业，参与招投标项目257次，知识 产权方面有商标信息45条，此外企业还拥有行政许可5个。 来源：金融界 金融界消息 截至2025年8月1日收盘，天舟文化（300148）报收于5.19元，上涨0.78%，换手率7.57%， 成交量60.68万手，成交金额3.12亿元。 资金流向方面，今日主力资金净流出2883.23万元，占比成交额9.26%。其中，超大单净流出3168.64万 元、占成交额10.17%，大单净流入285.41万元、占成交额0.92%，中单净流出流入953.72万元、占成交 额3.06%，小单净流入1929.51万元、占成交额6.19%。 天舟文化最新一期业绩显示，截至2025一季报，公司营业总收入7459.66万元、同比增长52.44%，归属 净利润2425.70万元，同比增长4635.85%，扣非净利润2300.6 ...

Financial Performance - The company expects a profit of between 4,500 and 5,500 million yuan for the first half of 2025, representing a growth of 135.94% to 188.38% compared to the same period last year [2][3] - The high growth is attributed to business optimization and strategic adjustments, including cost reduction in the gaming sector and stabilization of the educational support business [3] Product Development - The newly launched AI writing pen consists of three components: a smart posture pen, an APP course, and AI assessment features, targeting children aged 6 to 9 [4] - The marketing strategy focuses on platforms like Douyin and Xiaohongshu, with a comprehensive promotion planned for mid-August [4][5] Strategic Initiatives - The company aims to create a comprehensive e-commerce platform for the education sector through its subsidiary Tianzhou Zhi Mao, with plans to develop AI-integrated products for high-frequency learning scenarios [5][6] - A strategic partnership with iFLYTEK is underway to develop personalized education products, with new projects expected to launch in the second half of the year [9] Investment and Expansion - The company has invested in the blockchain firm Tianhe Guoyun, which has seen over 10 billion yuan in platform transaction volume, focusing on cultural and educational blockchain applications [10] - The "Marking Sauce" APP, a social e-commerce platform, has nearly 400,000 registered users and over 10,000 daily active users since its launch [7][8] Organizational Efficiency - A stock incentive plan was implemented in 2024 to enhance team innovation and efficiency, with further incentive mechanisms under consideration [12] - The company is focused on digital and intelligent transformation, establishing new entities to support these initiatives [12] Policy and Future Outlook - The company is positioned to benefit from supportive policies in the cultural and technological integration sector, particularly in the gaming and animation industries [13] - The strategic vision emphasizes a "big culture + technology" approach, aiming to enhance profitability and shareholder returns through resource optimization [14][15]

Industry Overview - The book retail industry refers to the process of selling books directly to end consumers, utilizing careful selection, pricing, promotion, and distribution to meet consumer demand while achieving commercial benefits for publishers and distributors [3] - Since 2020, China's book retail market has experienced fluctuations, with the market size declining from 98.7 billion yuan in 2021 to 87.1 billion yuan in 2022 [6] - In 2023, the market began to recover, with the retail market size slightly increasing to 91.2 billion yuan, representing a growth rate of 4.7% [6] Market Trends - By 2024, the integration of online and offline book sales channels has been established, driven by the rise of short video e-commerce and innovations in physical bookstores, leading to a significant market growth [6] - The industry code volume has reached 112.9 billion yuan in 2024, with a year-on-year growth rate of 23.8% [6] - The market is undergoing transformation, reflected in changes in consumer habits, marketing models, channel diversification, policy support, and technological advancements [8] Sales Channel Structure - In 2024, the market share of different sales channels is as follows: platform e-commerce accounts for 40.92%, short video e-commerce for 30.48%, vertical and other e-commerce for 14.71%, and offline physical stores for 13.99% [8] - The significant increase in the market share of short video e-commerce and offline physical stores compared to the previous year indicates a dynamic growth in the book retail sector [8] Key Players - Notable listed companies in the industry include CITIC Publishing (300788), China South Publishing (601098), Xinhua Wenhui (601811), and others [2] - Other relevant enterprises include Zhejiang Xinhua Bookstore Group, Beijing Ren Tian Bookstore Group, and various local bookstores [2]

天舟文化（300148）公告，预计2025年上半年净利润为4500万元-5500万元，比上年同期的1907.23万元 增长135.94%-188.38%。 ...

[Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company forecasts a substantial year-on-year increase in its 2025 first-half net profit, with attributable net profit expected to grow by 135.94% to 188.38% Key Financial Performance Forecast | Item | Current Reporting Period (January 1 - June 30, 2025) (Million Yuan) | Prior Period (Million Yuan) | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | **Profit: 45 - 55** | Profit: 19.0723 | | | **Year-on-Year Growth: 135.94% - 188.38%** | | | **Net Profit Excluding Non-Recurring Gains and Losses** | **Profit: 42 - 53** | Profit: 14.6431 | | | **Year-on-Year Growth: 186.82% - 261.95%** | | [Communication with Accounting Firm](index=1&type=section&id=II.%20Communication%20with%20Accounting%20Firm) The company explicitly states that the financial data in this performance forecast remains unaudited by a certified public accountant - The financial data related to this performance forecast has not been audited by a certified public accountant[3](index=3&type=chunk) [Explanation of Performance Changes](index=1&type=section&id=III.%20Explanation%20of%20Performance%20Changes) The significant performance growth is primarily driven by organic business expansion in core segments and substantial investment gains from an associate company's new game success - Net profit from the company's two main businesses, **book publishing and distribution** and **mobile network gaming**, both achieved year-on-year growth (after excluding the impact of share-based payment expenses)[4](index=4&type=chunk)[5](index=5&type=chunk) - Associate company Hainan Yuanyou's performance significantly improved year-on-year due to the outstanding performance of its newly launched games, leading to a substantial increase in the company's recognized investment income[5](index=5&type=chunk) - Non-recurring gains and losses are estimated to impact net profit by approximately **2 million to 3 million yuan** for the first half of 2025[5](index=5&type=chunk) [Other Relevant Information](index=2&type=section&id=IV.%20Other%20Relevant%20Information) Company management advises investors that the disclosed financial data is a preliminary estimate subject to uncertainty, with final figures to be detailed in the 2025 semi-annual report - This performance forecast represents preliminary estimates by the company's finance department, and the definitive financial data will be based on the company's 2025 semi-annual report[6](index=6&type=chunk)

Core Insights - The Chinese book retail market has experienced fluctuations since 2020, with a decline in market size from 987 billion yuan in 2021 to 871 billion yuan in 2022, followed by a slight recovery to 912 billion yuan in 2023, representing a growth rate of 4.7% [1][5] - In 2024, the market is expected to achieve rapid growth, with the industry scale reaching 1,129 billion yuan, a year-on-year growth rate of 23.8%, driven by the rise of short video e-commerce and innovations in physical bookstores [1][5] Industry Overview - Book retail refers to the process of selling books directly to end consumers, involving careful selection, pricing, promotion, and distribution to meet consumer demand while achieving commercial benefits for publishers and distributors [2] - The industry has seen a stable growth in the number of physical bookstores, with a rise of distinctive and diverse new bookstores, contributing to a preliminary establishment of an integrated online and offline sales channel [2] Market Dynamics - The book retail market is undergoing transformation, reflected in changes in consumer habits, marketing models, channel diversification, policy support, and technological advancements [7] - In 2024, the market structure shows that platform e-commerce accounts for 40.92% of the market, short video e-commerce for 30.48%, while vertical and other e-commerce and offline physical stores account for 14.71% and 13.99%, respectively [7] Book Categories - The largest category in the book retail market is children's books, accounting for 28.16% of the market in 2024, followed by educational materials at 25.33%, supported by a large user base of students [9] Competitive Landscape - The market competition is characterized by diversification and the integration of online and offline sales. Major online platforms like Dangdang and JD Books dominate the market, while physical bookstores like Xinhua Bookstore and independent bookstores enhance their competitiveness through cultural experiences and events [11] - Companies such as CITIC Publishing, Zhongnan Media, and Xinhua Wenhui are key players in the market, each with distinct business focuses ranging from educational materials to digital publishing [13] Development Trends - The integration of online and offline channels is accelerating, with a predicted stable online channel share of 65%-70% and offline bookstores achieving 30%-35% in the next five years [17] - Digitalization and personalized services are emerging trends, with the digital education market expected to exceed 5 billion yuan by 2025, accounting for 15% of the overall market [18][19] - Government policies are continuously supporting the industry's transformation and high-quality development, with initiatives like a 5 billion yuan fund for physical bookstore upgrades [20]

Summary of Key Points Core Viewpoint - Tianzhou Culture Co., Ltd. announced the completion of a share reduction plan by its director Yuan Xionggui, who reduced his holdings by a total of 9,281,748 shares, representing 1.13% of the company's total share capital [1]. Shareholder Reduction Plan Implementation - Yuan Xionggui's share reduction plan involved selling up to 9,485,100 shares, which is 1.16% of the total share capital [1]. - As of July 8, 2025, the total shares reduced included: - 8,150,000 shares through centralized bidding, accounting for 1% of the total share capital, with average prices ranging from 4.95 to 5.02 yuan [1]. - 1,131,748 shares through block trading, accounting for 0.14% of the total share capital, at an average price of 4.97 yuan [1]. - The total reduction was completed as planned, with Yuan Xionggui's remaining shares amounting to 28,658,819 shares, which is 3.50% of the total share capital [1]. Compliance and Regulatory Notes - The company confirmed that the share reduction complied with relevant regulations and did not violate any commitments made by the shareholder [1]. - The reduction will not have a significant impact on the company's control or operations [1].

证券代码：300148 证券简称：天舟文化 编号：2025-015 天舟文化股份有限公司（以下简称"公司"） 于 2025 年 6 月 6 日 发布了《关于董事股份减持计划的预披露公告》（公告编号：2025- 014），公司董事袁雄贵先生计划自本公告披露之日起十五个交易日 后的三个月内以集中竞价交易或大宗交易等方式减持本公司股份数 量不超过 9,485,100 股，占本公司总股本比例 1.16%（总股本已剔除 公司回购专用账户中的股份数量，下同）。 近日公司收到袁雄贵先生出具的《关于股份减持计划实施完毕的 告知函》，截至 2025 年 7 月 8 日，袁雄贵先生通过集中竞价方式累计 减持公司股份 8,150,000 股，占公司总股本的 1%；通过大宗交易方式 累计减持公司股份 1,131,748 股，占公司总股本的 0.14%，合计减持 公司股份 9,281,748 股，占公司总股本的 1.13%，其本次减持公司股 份计划已全部实施完毕，现将有关情况公告如下： 1 一、股东减持股份计划实施情况 1、股东减持股份情况 天舟文化股份有限公司 关于董事股份减持计划实施完毕的公告 公司董事袁雄贵保证向本公司提供的内容 ...

Investment Rating - The report maintains a "Buy" rating for the media industry [6][10]. Core Insights - The media industry is expected to benefit from the integration of AI applications, particularly with the launch of GPT-5 and AI glasses, which are anticipated to drive new consumption patterns and enhance content creation across various sectors [5][17]. - The report emphasizes the importance of leveraging IP (Intellectual Property) to stimulate consumer spending and highlights the potential of AI to improve operational efficiency and create innovative applications [5][16]. Summary by Sections 1. Industry Review - The media sector has shown significant performance, with a 47.3% increase over the past 12 months, outperforming the Shanghai and Shenzhen 300 indices [2][15]. - The gaming index has seen substantial growth, while the animation index has experienced a decline [15][24]. 2. Key Recommendations - The report recommends several stocks within the media sector, including Tianzhou Culture, Wanda Film, and Mango Super Media, highlighting their potential for financial recovery and growth through AI integration [6][10]. 3. AI Glasses and Applications - AI glasses are positioned as a new focus for the summer season, with companies like Xiaomi and Rokid launching new products that enhance user interaction and content consumption [5][16]. - The report discusses the potential market expansion for AI glasses as they reach a technological tipping point, with applications in daily life and creative processes [16]. 4. Upcoming Market Trends - The report anticipates a surge in AI applications across various fields, including digital marketing, education, and entertainment, driven by the release of GPT-5 and advancements in AI technology [17][18]. - The summer box office is projected to benefit from new film releases, with total box office earnings exceeding 2 billion yuan as of early July 2025 [28][31]. 5. Company Performance and Forecasts - The report provides detailed earnings forecasts for key companies, indicating a positive outlook for several firms in the media sector, with expected EPS growth in the coming years [10][18].