证券代码：300291 证券简称：百纳千成 公告编号：2025-030 北京百纳千成影视股份有限公司 关于签署日常经营重大合同的公告 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。 特别提示： 1、合同的生效条件：自甲乙双方盖章之日起生效。 2、合同的风险及不确定性：（1）本次签署的合同为日常经营性合同，签署 双方均具备相应的履约能力，合同履行的不确定性较低；（2）在合同履行过程 中可能因国家政策、市场环境、客户需求等不可预见的或其它不可抗力因素，从 而影响合同的最终执行情况。敬请广大投资者注意投资风险。 3、合同履行对公司本年度经营成果的影响：合同的履行将对北京百纳千成 影视股份有限公司（以下简称"公司"）2025 年度及未来年度的财务状况和经营业 绩产生积极影响，具体收入确认将根据合同履行情况以及企业会计准则、公司会 计政策相关规定确认。 4、公司于 2023 年 6 月 2 日在巨潮资讯网披露了《关于公司及控股子公司签 署日常经营重大合同的公告》，于 2024 年 11 月 8 日在巨潮资讯网披露了《关于 签署日常经营重大合同的公告》，上述重大合同履行情 ...

百纳千成（300291）公告，公司与芒果影视文化有限公司签署了《专有许可使用合作协议》，合同金额 合计总价为3.72亿元，占公司2024年度经审计主营业务收入的50.65%。该合同自双方盖章之日起生效。 合同的履行将对公司2025年度及未来年度的财务状况和经营业绩产生积极影响。 ...

Group 1 - A-share film and television theater stocks have risen, with Light Media hitting the 20% daily limit up [1] - Huayi Brothers, Huanrui Century, and Baiana Qicheng also experienced gains following Light Media's performance [1]

Core Viewpoint - The report outlines the equity change of Beijing Baiana Qiancheng Film Co., Ltd., indicating that the information disclosure obligor, Liu Dehong, has reduced his shareholding to below 5% as of June 12, 2025, due to personal financial needs [1][4][5]. Group 1: Equity Change Details - The equity change is a result of Liu Dehong's personal financial needs, leading to a planned reduction of up to 9,418,896 shares (1% of total share capital) within a specified period [4][5]. - As of June 12, 2025, Liu Dehong sold 106,218 shares, reducing his total holdings to 47,094,382 shares, which represents 4.99999% of the total share capital [5][6]. - The total reduction in shares from May 13, 2015, to June 12, 2025, amounts to 21,561,618 shares, equating to a 5.06% decrease in ownership [7]. Group 2: Future Plans and Compliance - Liu Dehong may continue to adjust his shareholding within the next 12 months, with plans to potentially increase or further decrease his holdings, adhering to relevant legal disclosure requirements [5][6]. - The report confirms that Liu Dehong does not hold any shares in other listed companies that exceed 5% of their total issued shares [4][6]. - The equity change will not affect the control of the company, as Liu Dehong is not a controlling shareholder or actual controller, ensuring no significant impact on the company's governance or ongoing operations [6][7].

北京百纳千成影视股份有限公司 简式权益变动报告书 上市公司名称：北京百纳千成影视股份有限公司 股票上市地点：深圳证券交易所 股票简称：百纳千成 股票代码：300291 信息披露义务人：刘德宏 住所：北京市朝阳区双桥东路 9 号 3 区 120 号 通讯地址：北京市朝阳区双桥东路 9 号 3 区 120 号 股份变动性质：股份减少（持股比例降至 5%以下） 权益变动报告书签署日期：2025 年 6 月 12 日 信息披露义务人声明 一、本报告书系依据《中华人民共和国证券法》《上市公司收购管理办法》 《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》及 其他相关法律、法规和部门规章的有关规定编写。 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。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定，本 报告书已全面披露了信息披露义务人在北京百纳千成影视股份有限公司中拥有 权益的股份变动情况。截至本报告书签署日，除本报告书披露的信息外，上述信 息披露义务人没有通过任何其他方式增加或减少其在北京百纳千成影视股份有 限公司中拥有的权益的股份。 第二节 信息披露义务人介绍 | 信息 ...

证券代码：300291 证券简称：百纳千成 公告编号：2025-029 北京百纳千成影视股份有限公司 关于控股公司开立募集资金专用账户并签署募集资金四方监管协议 的公告 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、募集资金基本情况 经中国证券监督管理委员会证监许可[2020]2948 号核准，北京百纳千成影视 股份有限公司（以下简称"公司"）向特定对象发行人民币普通股（A 股）共计 101,522,842 股，每股发行价格为人民币 3.94 元。此次募集资金总额为人民币 399,999,997.48 元，扣除发行费用 5,856,153.62 元后，实际募集资金净额为人民 币 394,143,843.86 元。致同会计师事务所（特殊普通合伙）已于 2020 年 12 月 18 日对公司以上募集资金到位情况进行了验资，并出具了致同验字[2020]第 110C001019 号《验资报告》。 为规范公司募集资金管理和使用，保护投资者权益，公司对募集资金采取了 专户存储制度，并与保荐机构、募集资金存储银行及相关主体签订了《募集资金 三方监管协议》及《募集资金四 ...

Group 1 - The A-share film and entertainment sector is experiencing a downturn, with companies like AoFei Entertainment and Hengdian Film and Television seeing declines of over 2% [1] - Other companies such as Huazhi Digital Media, Baiana Qiancheng, and Xingfu Lanhai are also following the downward trend [1]

Investment Rating - The investment rating for the company is "Accumulate" [11][19]. Core Views - The company has a substantial reserve of series projects and has signed multiple cultural tourism contracts, with several films expected to be released during the summer season, leading to a forecasted rapid growth in revenue [3][11]. - The company is expected to have a significant year in 2025 with nearly ten series anticipated for release, including several headlining series that have been recommended by major platforms like Mango TV [11]. - The film business has underperformed since 2021, with several films, including "Lion Boy 2," failing to meet box office expectations, which has negatively impacted the company's overall performance [11]. - The target price has been adjusted to 6.90 yuan, down from a previous estimate of 7.84 yuan, reflecting a decrease of 12% based on comparable company valuations [11][13]. Financial Summary - Projected revenue for 2023 is 432 million yuan, with a significant increase to 739 million yuan in 2024, and further growth to 985 million yuan in 2025, representing a year-on-year growth of 71.1% [5]. - The net profit attributable to the parent company is expected to turn positive in 2025, with estimates of 140 million yuan, following losses of 186 million yuan in 2023 and 393 million yuan in 2024 [5]. - The earnings per share (EPS) is projected to be -0.20 yuan in 2023, -0.42 yuan in 2024, and is expected to recover to 0.15 yuan in 2025 [5]. Market Data - The company's stock price has ranged between 3.80 yuan and 7.03 yuan over the past 52 weeks, with a total market capitalization of 4,417 million yuan [6]. - The company has a total share capital of 942 million shares, with 929 million shares in circulation [6]. Business Development - The company has confirmed revenue from several series in 2024, exceeding 400 million yuan, and anticipates further growth if the planned series are released in 2025 [11]. - The cultural tourism business is progressing steadily, with new projects signed in various locations, which are expected to provide stable revenue growth [11].

Core Viewpoint - The company has a substantial reserve of series projects and has signed multiple cultural tourism contracts, with several major films expected to be released during the summer season, leading to a continued rapid growth in revenue [1] Group 1: Investment Highlights - The company is building a foundation with series and cultural tourism, while films provide performance elasticity. In 2025, the company has a large number of series in reserve, with some top series already recommended by major video platforms like Mango TV. The cultural tourism business, based on three operational scenic spots, has signed multiple new projects, which are expected to bring stable revenue growth. However, the film business, which began to ramp up in 2021, has underperformed, with several films like "Lion Boy 2" failing to achieve expected box office results, negatively impacting the company's performance. As a result, the EPS forecast for 2025-2027 has been revised down to 0.15/0.19/0.22 yuan, compared to the previous forecast of 0.47/0.55 yuan for 2025/2026. The target price has been adjusted to 6.90 yuan from 7.84 yuan, while maintaining a "buy" rating [2][3][4] Group 2: Series and Film Releases - 2025 is expected to be a significant year for the company in terms of series, with nearly ten series anticipated to be aired. According to the company's 2024 annual report, series expected to be released in 2025 include "Criminal Scene" (aired on February 20, 2025), "Silent Echo," "Ordinary Heroes," "Synthesis Order," "Happy," "Mars Orphan," "City Builders," "Hunting Heart," and "Salted Fish Ascension." The company has also announced a change in funding allocation, redirecting 85.44 million yuan initially intended for the film "Space Spring Transportation" to the series "Salted Fish Ascension," indicating its importance. The revenue from confirmed series in 2024 exceeded 400 million yuan, and if the aforementioned series are released in 2025, the company’s series revenue is expected to achieve year-on-year growth [3][4] Group 3: Cultural Tourism Business - Major films are expected to be released within the year, and the cultural tourism business is progressing steadily. According to the company's 2024 annual report, the main films in reserve include "Dunhuang Heroes," "Gate of the Desert," "Bright Future," "Lying Flat Club," and "Story of X," which have completed filming and are in post-production and review stages, suggesting they are likely to be released in 2025. In addition to the three operational districts "Yongxing Fang," "Chang'an Twelve Hours," and "Xiangyang Guanjia Lane," new contracts have been signed for projects in Jiangsu Zhouzhuang, Guilin Lashan, Xiangyang Tiefo Temple, Daliang Qinghui Garden, and Anyang Kuixing Pavilion, which are expected to become important growth points for the company outside of its film and television content [4]

Industry Overview - In 2024, the Chinese drama industry continues the trend of "reducing quantity and increasing quality," with the number of TV dramas registered increasing from 537 in 2023 to 593, a growth of 10.4% [1] - The total number of registered episodes rose from 17,538 to 19,674, marking a 12.2% increase [1] - However, compared to pre-pandemic levels, the overall number of registered dramas decreased by 312, a decline of approximately 34.5%, and the number of registered episodes fell by 16,048, a drop of about 42.8% [1] Micro-Short Drama Market - The micro-short drama market is experiencing strong growth, with 2,653 dramas registered and 602 released in 2024 [1] - The market size for micro-short dramas reached 50.4 billion in 2024, expected to exceed 68 billion in 2025 and surpass 100 billion by 2027 [1] Company Performance - Seven drama companies reported a total revenue of 5.401 billion, a year-on-year decrease of 8.44%, with a net loss of 580 million, a tenfold increase in losses compared to the previous year [1][2] - Notable companies include: - Huace Film & TV: Revenue of 1.939 billion, down 14.48%, with a net profit of 243 million, down 36.41% [4] - Ningmeng Film: Revenue of 657 million, down 46.22%, with a net loss of 189 million [5] - Baida Qiancheng: Revenue increased by 71.11% to 739 million, but still reported a loss of 393 million [6] - Ciweng Media: Revenue of 366 million, down 20.63%, with a net profit of 30.34 million, up 9.85% due to debt restructuring [7] - Daocaoxiong Entertainment: Revenue of 1.125 billion, up 33.77%, with a reduced loss of 20,000 [7] - Huanrui Century: Revenue of 220 million, down 5.15%, with a net loss of 241 million [8] Trends in Drama Distribution - The number of dramas distributed in 2024 was 115, a decrease of 26.3% from 156 in 2023, indicating a market focus on quality over quantity [3] - The number of online dramas distributed also fell by 16.6% to 166 [3] - The performance of individual projects significantly impacts company revenues, with long dramas being crucial for financial results [3] Micro-Short Drama Strategy - Most companies view micro-short dramas as a core trend and future strategic focus, with significant production increases reported [9] - Ningmeng Film produced approximately 6,000 minutes of short dramas in 2024, a fivefold increase, with several achieving over 100 million views [9] - Huace Film & TV launched seven short dramas, achieving significant viewership and engagement metrics [10] Financial Challenges - Despite growth in revenue for some companies, many still face substantial losses, highlighting the pressure on profitability in the industry [6][11] - Companies are increasingly cautious about disclosing the financial impact of micro-short dramas, indicating uncertainty about their profitability [10][11]