关于申请综合授信额度并接受关联方提供担保的核查意见 光大证券股份有限公司 关于浙江华智数媒传媒股份有限公司 申请综合授信额度并接受关联方提供担保的核查意见 光大证券股份有限公司（以下简称"保荐机构"）作为浙江华智数媒传媒股 份有限公司（以下简称"华智数媒"或"公司"）向特定对象发行股票的保荐机 构，根据《证券发行上市保荐业务管理办法》《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》《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等有关规 定，对公司申请综合授信额度并接受关联方提供担保进行了核查，现发表核查意 见如下： 议约定为准。 （二）履行的审议程序 2025 年 8 月 18 日，公司独立董事召开 2025 年第四次专门会议，全票通过 《关于公司申请综合授信额度并接受关联方提供担保的议案》。 2025 年 8 月 28 日，公司第五届董事会第十八次会议全票通过《关于公司申 请综合授信额度并接受关联方提供担保的议案》。 根据《深圳证券交易所创业板股票上市规则》第 7.2.17 条规定，上市公司与 关联人发生的上市公司单方面获得利 ...

光大证券股份有限公司 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 0次 | | 2．督导公司建立健全并有效执行规章制度的 | | | 情况 | | | （1）是否督导公司建立健全规章制度（包括 | 是 | | 但不限于防止关联方占用公司资源的制度、募 | | | 集资金管理制度、内控制度、内部审计制度、 | | | 关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月1次 | | （2）公司募集资金项目进展是否与信息披露 | 是 | | 文件一致 | | | 4.公司治理督导情况 | | | （1）列席公司股东会次数 | 列席2024年年度股东会，其他会议已阅会 | | | 议文件 | | （2）列席公司董事会次数 | 本年度内未列席，均事前审阅会议议案 | | 5.现场检查情况 | | | （1）现场检查次数 | 1次 | | （2）现场检查 ...

Group 1 - The company reported a revenue of 44.4171 million yuan for the first half of the year, representing a year-on-year decline of 19.68% [1] - The net profit attributable to shareholders was a loss of 70.1452 million yuan, compared to a loss of 45.435 million yuan in the same period last year [1] - The basic earnings per share were -0.16 yuan per share [1]

浙江华智数媒传媒股份有限公司 2025 年半年度报告全文 浙江华智数媒传媒股份有限公司 2025 年半年度报告 2025-055 2025 年 8 月 1 浙江华智数媒传媒股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人裘永刚、主管会计工作负责人梁晨成及会计机构负责人(会计 主管人员)王章任声明：保证本半年度报告中财务报告的真实、准确、完整。 | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司简介和主要财务指标 7 | | 第三节 | 管理层讨论与分析 11 | | 第四节 | 公司治理、环境和社会 23 | | 第五节 | 重要事项 25 | | 第六节 | 股份变动及股东情况 32 | | 第七节 | 债券相关情况 37 | | 第八节 | 财务报告 38 | 浙江华智数媒传媒股份有限公司 2025 年半年度报告全文 备查文件目录 所有董事均已出席了审议本次半年报的董事会会议 ...

Market Overview - The film and theater sector experienced a decline of 3.24% on August 27, with Bona Film Group leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Bona Film Group's stock price fell by 6.83% to 5.73, with a trading volume of 1.77 million shares and a transaction value of 1.10 billion [2] - Other notable declines include Light Media down 5.49% to 19.80, and Golden Screen Cinemas down 4.80% to 9.53 [2] - The highest closing price in the sector was Shanghai Film at 31.04, down 3.96% [2] Capital Flow Analysis - The film and theater sector saw a net outflow of 723 million from institutional investors, while retail investors contributed a net inflow of 542 million [2][3] - The data indicates that retail investors are more active in the sector, with a net inflow of 542 million, compared to the outflow from institutional investors [2][3] Stock-Specific Capital Flow - For individual stocks, Jiecheng Co. saw a net inflow of 86.49 million from retail investors, while it experienced a net outflow of 54.72 million from institutional investors [3] - Wanda Film had a net outflow of 5.80 million from institutional investors but a net inflow of 27.57 million from retail investors [3] - The overall trend shows that while institutional investors are pulling back, retail investors are stepping in to buy [3]

Core Viewpoint - The financial performance of Huazhi Shumei (300426) shows a significant decline in revenue and net profit for the first quarter of 2025, indicating potential challenges for the company moving forward [1]. Financial Performance - As of August 25, 2025, Huazhi Shumei's stock closed at 10.92 yuan, up 1.77%, with a turnover rate of 6.39% and a trading volume of 255,700 hands, amounting to a transaction value of 275 million yuan [1]. - The company's total revenue for Q1 2025 was 35.52 million yuan, a year-on-year decrease of 27.48% [1]. - The net profit attributable to shareholders was 21.74 million yuan, reflecting a substantial year-on-year decline of 230.55% [1]. - The company's non-recurring net profit was 21.79 million yuan, also down 231.34% year-on-year [1]. - The liquidity ratios were reported as a current ratio of 1.259 and a quick ratio of 0.748, with a debt-to-asset ratio of 78.91% [1]. Company Background - Zhejiang Huazhi Shumei Media Co., Ltd. was established in 2006 and is located in Jinhua City, primarily engaged in broadcasting, television, film, and recording production [1]. - The company has a registered capital of 4.50 billion yuan and a paid-in capital of 4.05 billion yuan [1]. - The legal representative of the company is Qiu Yonggang [1]. Investment Activities - Huazhi Shumei has made investments in 22 external enterprises and has participated in one bidding project [2]. - The company holds 202 trademark registrations and has obtained 9 administrative licenses [2].

Market Overview - On August 21, the film and cinema sector rose by 0.13% compared to the previous trading day, with Bona Film Group leading the gains [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Individual Stock Performance - Bona Film Group (001330) closed at 5.05, up 2.85% with a trading volume of 500,400 shares and a turnover of 252 million yuan [1] - Light Media (300251) closed at 20.06, up 1.67% with a trading volume of 970,400 shares and a turnover of 1.94 billion yuan [1] - China Film (600977) closed at 13.04, up 1.64% with a trading volume of 354,500 shares and a turnover of 460 million yuan [1] - Other notable performers include Zhongshi Media (600088) at 17.55, up 1.50%, and Jinyi Film (002905) at 9.95, up 1.22% [1] Capital Flow Analysis - The film and cinema sector experienced a net outflow of 82.57 million yuan from institutional investors, while retail investors saw a net inflow of 34.26 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are more active [2] Detailed Capital Flow by Company - Light Media (300251) had a net outflow of 48.54 million yuan from institutional investors, while retail investors contributed a net inflow of 1.07 million yuan [3] - Huayi Brothers (300027) saw a net inflow of 37.89 million yuan from institutional investors, but a net outflow of 30.36 million yuan from retail investors [3] - China Film (600977) had a net inflow of 16.14 million yuan from institutional investors, while retail investors experienced a net outflow of 25.54 million yuan [3] - Bona Film Group (001330) had a net inflow of 10.25 million yuan from institutional investors, but also saw a net outflow from retail investors [3]

Market Overview - A-shares market experienced a significant surge, with multiple indices reaching new highs, and the total market capitalization surpassing 100 trillion yuan for the first time in history [1] - The Shanghai Composite Index rose by 0.85%, the Shenzhen Component Index increased by 1.73%, and the ChiNext Index gained 2.84%, with total market turnover exceeding 2.8 trillion yuan, marking a new high for the year [1] Securities Sector - The securities sector continued its strong performance, with an overall increase of 1.15%, and 41 out of 50 constituent stocks rising [2] - Positive earnings reports from major securities firms indicated a net profit growth of over 25% year-on-year for the first half of 2023 [2] - The sector is expected to see further upward potential due to a "lagging" characteristic in performance compared to historical data, with the SW securities index only rising 10% year-to-date [3] Liquid Cooling Server Sector - The liquid cooling server concept stocks saw a significant increase, with an overall rise of 6.31%, and 116 out of 121 constituent stocks gaining [4] - The market for liquid cooling servers in China is projected to grow at a compound annual growth rate of 46.8% from 2024 to 2029, with the market size expected to exceed 16.2 billion USD by 2029 [5] Film and Television Industry - The film and television production sector experienced a notable surge, with several stocks hitting the daily limit up, driven by positive market sentiment and potential policy support [6][7] - The overall increase in the film and television sector was 5.88%, with only one out of twenty constituent stocks declining [7] - The industry is believed to be at the beginning of a new recovery phase, with expectations for improved business models and a gradual restoration of high-quality content production [8]

Core Viewpoint - The recent surge in the film and television sector is closely linked to the "21 Measures" issued by the National Radio and Television Administration (NRTA), which aims to revitalize the industry by addressing key pain points such as the limitation on the number of episodes and the scheduling of seasonal dramas [1][10][19]. Industry Impact - The NRTA's "21 Measures" include lifting the 40-episode cap, removing the one-year interval requirement for seasonal dramas, and relaxing restrictions on the broadcast ratio of historical dramas, which are expected to significantly benefit the industry [10][11][19]. - The measures have been described as a "timely rain" for the industry, which has faced challenges such as tightened procurement by platforms and a decline in both production and viewership [3][9][19]. Market Reaction - On August 18, the cultural media index rose by 3.11%, with net inflows exceeding 10.257 billion yuan, indicating strong market confidence in the sector following the announcement of the "21 Measures" [4][7]. - Several companies, including Huazhi Shumedia, Huace Film & TV, and Ciweng Media, saw their stock prices hit the daily limit, reflecting investor optimism [4][7]. Production and Content Creation - The industry is witnessing a resurgence in production activity, with multiple film crews accelerating their preparations for new projects, as indicated by increased restaurant bookings in production hubs like Hengdian [3][20]. - The measures are expected to encourage the development of high-quality IPs, allowing for continuous and high-quality content creation, which is crucial for revitalizing the long-form drama market [13][19]. Long-term Trends - The decline in the number of dramas produced has been alarming, with a drop from 429 dramas in 2014 to only 115 in 2024, a decrease of 73% [9][17]. - The rise of short dramas has created a competitive environment for long dramas, with platforms reallocating resources towards shorter formats [9][19]. Future Outlook - The "21 Measures" are anticipated to stimulate both supply and demand in the market, potentially leading to a more vibrant and profitable industry landscape [8][19]. - Companies are optimistic that the new policies will attract capital back into long-form dramas, which have been neglected in favor of shorter formats [18][19].

Core Viewpoint - The recent surge in the film and television sector is closely linked to the "21 Measures" issued by the National Radio and Television Administration, which aims to revitalize the industry by addressing key pain points such as the cap on episode counts and restrictions on seasonal broadcasts [1][5]. Group 1: Industry Response - On August 18, the film and television sector saw a significant stock price increase, with the cultural media index rising by 3.11% and a net capital inflow of over 10.257 billion [2][3]. - Major companies like Huazhi Shumedia, Huace Film & TV, and others experienced stock price surges, indicating a positive market reaction to the new policies [2][3]. - The industry has been facing challenges such as reduced production and audience loss, making the new policies a timely relief [1][3]. Group 2: Policy Implications - The "21 Measures" include lifting the 40-episode cap, removing seasonal broadcast intervals, and relaxing restrictions on historical dramas, which are expected to stimulate content creation and market activity [5][6]. - The measures are anticipated to benefit long-form drama production companies, allowing them to explore previously restricted themes [4][6]. - The policies aim to enhance the creative space for producers while providing consumers with more choices, thus stimulating market demand [3][6]. Group 3: Market Dynamics - The television industry has seen a decline in production, with the number of dramas receiving distribution licenses dropping from 429 in 2014 to just 115 in 2024, a decrease of 73% [3][8]. - The rise of micro-dramas has intensified competition for long-form dramas, with micro-drama users reaching 666 million in 2024, reflecting a 14.8% growth [4][8]. - The new policies are expected to encourage a shift back to long-form content, as production companies are now more inclined to invest in high-quality IPs [6][8]. Group 4: Future Outlook - The industry anticipates a revival, with many production teams accelerating their project launches in response to the new policies [9]. - The measures are seen as a catalyst for attracting capital back into the long-form drama sector, which has been struggling with reduced investment [8][9]. - Overall, the "21 Measures" are viewed as a significant step towards revitalizing the film and television industry, fostering a healthier and more dynamic market environment [8][9].