Core Viewpoint - In the first half of the year, Light Media reported significant growth in revenue and net profit, indicating strong performance in the film and derivative business [1] Financial Performance - The company's revenue for the first half of the year reached 3.242 billion yuan, representing a year-on-year increase of 143% [1] - The net profit attributable to shareholders was 2.229 billion yuan, showing a year-on-year growth of 371.55% [1] - The net profit after deducting non-recurring gains and losses was 2.199 billion yuan, with a year-on-year increase of 376.71% [1] Business Highlights - The revenue and profit from the film and derivative business experienced substantial growth [1] - The company participated in the investment and distribution of films that contributed to the box office during the reporting period, including "Ne Zha" and "Unique" [1] - Upcoming films such as "Little Qian," which will be released in 2024, have also contributed to the total box office, which reached approximately 15.463 billion yuan by the end of the reporting period [1]

证券代码：300251 证券简称：光线传媒 公告编号：2025-046 北京光线传媒股份有限公司 北京光线传媒股份有限公司 第六届董事会第十次会议决议公告 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。 一、董事会会议召开情况 北京光线传媒股份有限公司（以下简称"公司"）第六届董事会第十次会议 通知于 2025 年 8 月 15 日以电话和电子文件方式发出，会议于 2025 年 8 月 26 日在公司会议室以现场加通讯表决方式召开。会议应到董事 8 名，实到 8 名，符 合《公司法》和《公司章程》的规定，会议程序合法、有效。会议由董事长王长 田先生主持，公司监事、高级管理人员列席了会议。 二、董事会会议审议情况 1. 审议通过《关于公司 2025 年半年度报告全文及摘要的议案》 公司董事会编制和审核《2025 年半年度报告》全文及摘要的程序符合法律、 行政法规和中国证监会的有关规定，报告内容真实、准确、完整地反映了公司 2025 年半年度的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 《2025 年半年度报告》中的财务信息已经公司董事会审计委员会审议 ...

Core Viewpoint - The strong performance of the animated film "Nezha: The Devil's Child" (Nezha 2) during the Spring Festival has led Beijing Enlight Media Co., Ltd. to achieve a 143% year-on-year revenue growth and a 372% surge in net profit in the first half of 2025 [1][2] Financial Performance - The company reported a revenue of 32.42 billion yuan, a 143% increase compared to the same period last year [2][5] - Net profit attributable to shareholders reached 22.29 billion yuan, marking a 371.55% increase year-on-year [2][5] - The net cash flow from operating activities was 29.82 billion yuan, reflecting a 412.66% year-on-year growth [2][5] - The gross profit margin stood at 80.03%, significantly contributing to the company's overall performance [2] Business Development - The film and related derivative business generated 31.02 billion yuan in revenue, a 218.54% increase year-on-year [1][2] - The animated film "Nezha 2," released on January 29, became a key driver of box office revenue, contributing to a total box office of approximately 154.63 billion yuan for the films accounted in the reporting period [2][6] - The company has a rich pipeline of film projects, with 46 films currently in production or planning stages [6] IP Development - The "Nezha" IP has expanded into over 30 categories and more than 500 products, indicating a successful derivative product strategy [3][6] - The company is preparing to launch online e-commerce channels and plans to open pop-up stores and flagship stores [3] - A team of over 50 has been established for game development, with the first AAA game currently in production [3]

Core Viewpoint - The company reported significant growth in both revenue and net profit for the first half of 2025, indicating strong operational performance and market demand [1] Financial Performance - The company achieved operating revenue of 3.242 billion yuan, representing a year-on-year increase of 143.00% [1] - The net profit attributable to shareholders reached 2.229 billion yuan, showing a year-on-year growth of 371.55% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.199 billion yuan, with a year-on-year increase of 376.71% [1] - Basic earnings per share were reported at 0.76 yuan [1]

北京光线传媒股份有限公司 互动易平台信息发布及回复内部审核制度 第一章 总则 第一条 为规范北京光线传媒股份有限公司（以下简称"公司"）互动易平台 信息发布和提问回复的管理，建立公司与投资者良好沟通机制，持续提升公司 治理水平，根据《上市公司信息披露管理办法》《上市公司投资者关系管理工作 指引》以及《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》《深圳证券交易所上市公司自律监管指南第 1 号——业务办理》等 法律、行政法规及规范性文件以及《公司章程》的有关规定，结合公司的实际 情况，制定本制度。 第二条 本制度所指"互动易"平台是指深圳证券交易所为上市公司与投资者 之间搭建的自愿性、交互式信息发布和进行投资者关系管理的综合性网络平台， 是上市公司法定信息披露的有益补充。 第二章 总体要求 第三条 公司应当通过互动易平台等多种渠道与投资者交流，指派或者授权 专人及时查看并处理互动易平台的相关信息。公司应当就投资者对已披露信息 的提问进行充分、深入、详细地分析、说明和答复。公司在互动易平台发布信 息及回复投资者提问，应当注重诚信，尊重并平等对待所有投资者，主动加强 与投资者的沟通，增进 ...

北京光线传媒股份有限公司 证券投资管理制度 第一章 总则 第一条 为规范北京光线传媒股份有限公司（以下简称"公司"）的证券投资 行为，进一步完善公司治理结构，有效控制风险，提高投资收益，维护公司及 广大投资者合法权益，公司依据《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》《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交易》等法律、行政法规、部门规章及《公司章程》的相关 规定，制订本制度。 （二）固定收益类或者承诺保本的投资行为； （三）参与其他上市公司的配股或者行使优先认购权利； （四）购买其他上市公司股份超过总股本的 10%，且拟持有三年以上的证 券投资； （五）公司首次公开发行股票并上市前已进行的投资。 第三条 本制度适用于公司及子公司的证券投资行为。未经本制度履行相应 的审批程序，公司及子公司不得进行证券投资。 第二章 基本原则和一般规定 第四条 公司从事证券投资应当遵循合法、审慎、安全、有效的原则，以不 影响公司正常经营和主营业务的发展为前提，控制投资风险、注重投资收益。 第五条 公司进行证券投资时，应当严格按照本制度关于决策、实施、风险 控制、信息披露等的规 ...

信息披露暂缓与豁免管理制度 第一章 总则 第一条 为规范北京光线传媒股份有限公司（以下简称"公司"）及相关信息 披露义务人信息披露暂缓、豁免行为，确保公司及相关信息披露义务人（以下 简称"信息披露义务人"）依法依规履行信息披露义务，保护投资者合法权益， 根据《中华人民共和国保守国家秘密法》《中华人民共和国证券法》（以下简称 "《证券法》"）、《上市公司信息披露暂缓与豁免管理规定》《深圳证券交易所创 业板股票上市规则》（以下简称"《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》（以下简称"《规范运作》"） 等法律、行政法规、规范性文件及《公司章程》的相关规定，并结合公司实际 情况，制定本制度。 第二条 信息披露义务人按照《上市规则》《规范运作》及深圳证券交易所 （以下简称"深交所"）其他相关业务规则的规定，办理信息披露暂缓、豁免业 务的，适用本制度。 第三条 信息披露义务人应当真实、准确、完整、及时、公平地披露信息， 不得滥用暂缓或者豁免披露规避信息披露义务、误导投资者，不得实施内幕交 易、操纵市场等违法行为。 北京光线传媒股份有限公司 第四条 信息披露义务人自行审 ...

Financial Performance - The company's operating revenue for the first half of 2025 reached RMB 3,242,000,198.97, representing a 143.00% increase compared to RMB 1,334,131,925.39 in the same period last year[20]. - Net profit attributable to shareholders was RMB 2,229,362,584.29, a significant increase of 371.55% from RMB 472,768,803.13 year-on-year[20]. - The net cash flow from operating activities was RMB 2,981,857,465.59, up 412.66% from RMB 581,649,324.33 in the previous year[20]. - Basic earnings per share increased to RMB 0.76, a 375.00% rise from RMB 0.16 in the same period last year[20]. - Total assets at the end of the reporting period were RMB 12,091,617,982.39, reflecting a 24.26% increase from RMB 9,730,530,127.81 at the end of the previous year[20]. Box Office and Film Performance - The film box office in China for the first half of 2025 reached RMB 29.231 billion, with a year-on-year growth of 22.91%[27]. - The number of moviegoers in the same period was 641 million, representing a 16.89% increase compared to the previous year[27]. - The proportion of domestic films in the box office was 91.2%, with 25 films surpassing RMB 100 million in box office revenue[27]. - The film business generated a total box office of approximately 15.463 billion yuan, with major titles including "Nezha: Birth of the Demon Child" and "The Unique One" contributing to revenue growth[32]. - The animation film "Nezha: Birth of the Demon Child" was released in China on January 29, 2025, and has been scheduled for release in 45 countries, with 15 countries already breaking box office records[34]. Business Strategy and Development - The company plans to focus on the growth of non-box office revenue, particularly through IP derivatives[27]. - The company is transitioning from a "high-end content provider" to an "IP creator and operator," with IP operations becoming a new highlight for performance growth[36]. - The derivative product business centered around the "Nezha" IP has expanded to over 30 categories and more than 500 products[36]. - The company is actively pursuing game development, with a team of over 50 people working on its first AAA game[36]. - The company plans to adjust its project lineup based on market conditions and regulatory approvals, ensuring flexibility in its film release strategy[37]. Investment and Financial Management - The company reported a significant increase in income tax expenses, which rose by 246% to ¥358,354,604.72, due to higher total profit[46]. - The gross profit margin for film and related businesses improved to 80.03%, with operating revenue increasing by 218.54% compared to the previous year[48]. - The company experienced a net increase in cash and cash equivalents of ¥1,216,560,811.13, a 381.48% increase, driven by strong cash inflows from film projects[46]. - Investment activities resulted in a net cash outflow of ¥1,168,930,502.96, primarily due to the acquisition of equity in Beijing Qianlin Enterprise Management Co., Ltd.[46]. - The company reported investment income of ¥81,381,019.46, contributing 3.15% to the total profit, mainly from equity investments[50]. Shareholder Relations and Dividends - The company will not distribute cash dividends or issue bonus shares for this reporting period[6]. - The company distributed a cash dividend of CNY 2.00 per 10 shares, totaling CNY 584.75 million, to shareholders as part of its profit distribution policy[76]. - The company has an employee stock ownership plan involving 40 employees holding 3,609,830 shares, accounting for 0.12% of the total share capital[85]. - The company actively engages with investors through various channels to enhance transparency and protect shareholder rights[87]. - The company has implemented a network voting mechanism for shareholder meetings to facilitate participation from minority investors[87]. Regulatory and Compliance Issues - The company faces risks related to regulatory compliance in the film industry, including potential penalties for non-compliance with national laws and regulations[69]. - Market competition is intensifying, with private film companies growing and new entertainment formats emerging, posing challenges to the company's market position[71]. - The company is committed to combating piracy and protecting intellectual property rights, despite ongoing challenges in the industry[71]. - The company has implemented a value management system to enhance investor relations and ensure compliance with legal regulations[74]. Future Outlook and Strategic Goals - The company plans to strengthen its main business and expand its operations while adhering to social responsibility and governance reforms in the second half of 2025[91]. - The company plans to expand its market presence, focusing on new product development and technological advancements[156]. - Future guidance indicates a continued upward trend in revenue and profitability, with expectations of further market expansion[156]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[156]. Operational Licenses and Certifications - The company holds various operational licenses, including a performance business license valid until March 3, 2026, and a broadcasting program production license valid until March 4, 2027[42]. - The company is recognized as a high-tech enterprise with certifications valid until October 17, 2026, and November 1, 2025, respectively[42]. - The company has a value-added telecommunications business license valid until December 30, 2029, specifically for internet information services[42]. Research and Development - Research and development expenses rose by 86.04% to ¥23,634,148.97, reflecting the company's commitment to enhancing its R&D capabilities[46]. - The company acquired 11 utility model patents and 2 invention patents during the reporting period, focusing on innovations related to film production[43]. - The company is focusing on enhancing its product offerings and expanding its market presence in the upcoming quarters[164].

Group 1 - The summer box office has reached 11 billion, indicating a significant recovery in the film market [1][3] - Successful films like "Nanjing Photo Studio," "Wang Wang Mountain Little Monster," and "Lychee in Chang'an" have contributed to this surge, showcasing the potential of emotional consumption and merchandise sales [3] - The derivative product market has doubled this summer, with plush toys and blind boxes selling better than movie tickets, highlighting the transformation of films into valuable IP assets [3] Group 2 - Companies benefiting from this trend include production firms like Light Media and Wanda Film, which profit from both box office revenue and merchandise licensing [3] - State-owned enterprises like China Film have advantages due to their full industry chain layout, from distribution to screening [3] - The derivative product market is reshaping the industry landscape, with toy manufacturers like Aofei Entertainment and established companies like Shanghai Film leveraging IP collaborations and pop-up stores to convert audiences into long-term consumers [3][4] Group 3 - Despite the current excitement, the film industry faces risks, as evidenced by last year's losses among cinema companies, including Wanda Film's 900 million loss [4] - Long-term investors should focus on companies with sustainable content output capabilities, such as Light Media's animation IP reserves and Wanda Film's cinema integration abilities [4] - The 11 billion box office serves as a signal of consumer recovery in the cultural sector, indicating a positive cycle where audiences are willing to pay for quality content and merchandise supports creative production [4]

Group 1 - The core viewpoint of the news highlights the significant stock performance of Light Media, with a year-to-date increase of 126.17% and a recent trading volume of 1.27 billion yuan [1][2] - As of March 31, 2025, Light Media reported a revenue of 2.975 billion yuan, representing a year-on-year growth of 177.87%, and a net profit of 2.016 billion yuan, with a remarkable increase of 374.79% [2] - The company has a diverse revenue structure, with 71.20% from film and related businesses, 14.93% from television dramas, and 13.88% from agency and other services [1] Group 2 - Light Media has been actively listed on the trading leaderboard, appearing 9 times this year, with the latest instance on June 16, where it recorded a net purchase of 491 million yuan [1] - The company has distributed a total of 3.062 billion yuan in dividends since its A-share listing, with 934 million yuan distributed in the last three years [3] - The number of shareholders increased significantly to 253,600 as of March 31, 2025, marking a 359.92% rise compared to the previous period [2]