Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The report emphasizes the potential of AI applications in video understanding and generation, particularly through the launch of Kwai Keye-VL by Kuaishou, which showcases advanced multimodal capabilities [5] - The report suggests continued investment in the gaming sector, particularly with the recent approval of numerous domestic game licenses, indicating a favorable environment for new game launches [6] - The upcoming summer season is expected to boost consumption in various IP sectors, including games, animated films, concerts, and trendy toys, with specific recommendations for companies in these areas [6] Summary by Sections Industry Data Overview - "Delta Action" ranked first in the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of June 28, 2025 [13][17] - The film "Sauce Garden Case" achieved the highest box office for the week, grossing 1.64 billion [28] Industry News Overview - AI advancements in embodied intelligence and brain-computer interfaces are highlighted, with ongoing releases in gaming and film sectors [35] - The report notes the launch of Gemini, the first model capable of running locally on robots, enhancing task adaptability and efficiency [35] Company Recommendations - For AI video applications, key recommendations include Kuaishou-W, Shanghai Film, and Tencent Holdings, with beneficiaries like Alibaba-W and Kunlun Wanwei [5] - In the gaming sector, companies such as Xindong Company, Giant Network, and Perfect World are recommended, with beneficiaries including Youyi Time and Kingsoft [6] - For animated films, Shanghai Film is highlighted, while beneficiaries include Zhongwen Online [6] - In the concert and performance sector, Fengshang Culture is recommended, with beneficiaries like Alibaba Pictures and Maoyan Entertainment [6] - The trendy toy sector recommends Blukoo and Aofei Entertainment, with beneficiaries including Pop Mart and Quantum Song [6]

证券代码：300654 证券简称：世纪天鸿 公告编号：2025-038 世纪天鸿教育科技股份有限公司（以下简称"公司"）接到控股股东新疆志 鸿教育投资有限公司的通知，经霍尔果斯市市场监督管理局核准，其名称由"新 疆志鸿教育投资有限公司"更名为"新疆志鸿教育投资（集团）有限公司"，并 已完成工商变更登记手续。现将具体情况公告如下： 一、控股股东更名后的《营业执照》信息 统一社会信用代码：91110105760132102U 企业名称：新疆志鸿教育投资（集团）有限公司 世纪天鸿教育科技股份有限公司 关于控股股东变更名称并完成工商变更登记的公告 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。 类型：有限责任公司（自然人投资或控股） 住所：新疆伊犁哈萨克自治州霍尔果斯市神州路 8 号新丝路（跨境）金融小 镇 C-1141 室 法定代表人：任志鸿 注册资本：肆仟肆佰万元整 成立日期：2004 年 03 月 16 日 经营范围：许可项目：金融信息服务。（依法须经批准的项目，经相关部门 批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准） 一般项目：以自有 ...

证券代码：300654 证券简称：世纪天鸿 公告编号：2025-036 世纪天鸿教育科技股份有限公司 第四届董事会第十次会议决议公告 经审议，董事会同意聘任善静宜女士为公司董事会秘书，任期自本次董事会 审议通过之日起至公司第四届董事会任期届满之日止。 本议案已经公司第四届董事会薪酬、考核与提名委员会 2025 年第一次会议 审议通过。具体内容详见公司在巨潮资讯网（www.cninfo.com.cn）披露的《关于 聘任公司董事会秘书的公告》。 表决结果：同意 7 票、反对 0 票、弃权 0 票。 三、备查文件 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、会议召开情况 世纪天鸿教育科技股份有限公司（以下简称"公司"）第四届董事会第十次会 议于 2025 年 6 月 7 日在公司会议室以现场结合通讯方式召开。会议通知已于 2025 年 6 月 4 日以专人送达、通讯等形式向全体董事发出。本次会议应出席董 事 7 人，实际出席会议董事 7 人。会议由董事长任志鸿先生召集和主持。本次会 议的召集、召开、表决程序符合《公司法》等法律法规、规范性文件和《公司章 程》 ...

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。 世纪天鸿教育科技股份有限公司（以下简称"公司"）于 2025 年 6 月 7 日召 开第四届董事会第十次会议，审议通过了《关于聘任公司董事会秘书的议案》。 经公司董事长提名，公司董事会薪酬、考核与提名委员会审查通过，公司同意聘 任善静宜女士（简历附后）为公司董事会秘书，任期自本次董事会审议通过之日 起至公司第四届董事会任期届满之日止。 证券代码：300654 证券简称：世纪天鸿 公告编号：2025-037 世纪天鸿教育科技股份有限公司 关于聘任公司董事会秘书的公告 联系电话：0533-3590083 电子邮箱：sjthzqb@zhnet.com.cn 联系地址：淄博市高新区天鸿路 9 号 邮政编码：255086 附件 善静宜女士简历 善静宜女士，1975 年出生，中国国籍，无境外永久居留权，本科学历，高级 会计师、注册税务师、国际注册管理会计师（CMA）。曾任山东华光集团股份有 限公司主管会计、世纪天鸿财务经理、财务总监等职务；现任世纪天鸿董事、财 务总监、董事会秘书。 特此公告。 世纪天鸿教育科技股份有限公司董 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Insights - The report highlights the continuous innovation in AI applications across various sectors such as social media, publishing, and e-commerce, with significant advancements in AI models and their commercial viability [4][32] - The gaming sector is experiencing a surge with new game launches and IP products, indicating potential revenue growth for companies involved [5][12] - The report suggests a focus on AI applications and their commercialization, recommending specific companies for investment based on their market positioning and product offerings [4][5] Industry Data Overview - The mobile game "暴吵萌厨" ranked first in the iOS free games chart in mainland China, while "王者荣耀" topped the iOS revenue chart [12][17] - The film "水饺皇后" achieved the highest box office revenue for the week, indicating strong performance in the film sector [27] - The report notes that the A-share media sector outperformed major indices, suggesting a positive market trend [9] Industry News Summary - AI technology continues to evolve, with breakthroughs in generative AI and applications in various fields, including gaming and entertainment [32] - The report emphasizes the importance of new game releases and IP product launches as key drivers for revenue growth in the gaming sector [5][12] - The report also discusses the performance of various media products, including TV dramas and variety shows, highlighting their market share and audience engagement [28][29][30]

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Insights - The report highlights the continuous iteration of multimodal AI and the acceleration of IP industry capitalization, driven by advancements in AI applications and new consumption trends [4][5] - Major model vendors are strengthening collaborations, leading to innovations in voice models, social applications, and agents, which are expected to enhance AI application penetration and commercialization [4] - The report suggests continued investment in AI-related companies and sectors, including AI virtual companionship, AI animation/film/short dramas, AI e-commerce/advertising, and AI education [4] Industry Data Overview - The game "Brave Land" ranked first on the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of May 24, 2025 [12][16] - The film "Dumpling Queen" achieved a weekly box office of 0.51 billion, with a cumulative box office of 3.79 billion [27] - The report notes that the A-share media sector outperformed major indices in the 21st week of 2025, with the gaming sector showing strong performance [9] Industry News Summary - The report discusses the launch of the "AI Virtual Human Podcast" feature by ShengTian Network, which aims to enhance user experience in podcast creation [4][33] - The AI comic drama business of Zhongwen Online has shown significant growth, with plans to produce 300 works in 2024 [35] - Tencent Cloud has launched a new intelligent agent development platform, marking a significant upgrade in its AI infrastructure [36] Company Recommendations - Key recommendations include Tencent Holdings and Kuaishou-W for major models/agents, with Alibaba-W and Kunlun Wanwei as beneficiaries [4] - For AI virtual companionship, recommended companies include ShengTian Network and NetEase Cloud Music, with beneficiaries like Tom Cat and Shifeng Culture [4] - In the AI animation/film/short drama sector, Shanghai Film is a key recommendation, with beneficiaries including Guomai Culture and Huace Film [4]

证券代码：300654 证券简称：世纪天鸿 公告编号：2025-035 公司现已完成相关工商变更登记和备案手续，并于 2025 年 5 月 22 日取得了 淄博市行政审批服务局换发的《营业执照》。具体登记信息如下： 名称：世纪天鸿教育科技股份有限公司 统一社会信用代码：913703007618736234 类型：股份有限公司（上市、自然人投资或控股） 住所：淄博市高新区天鸿路 9 号 法定代表人：任志鸿 注册资本：叁亿陆仟陆佰壹拾贰万肆仟捌佰伍拾贰元整 世纪天鸿教育科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 世纪天鸿教育科技股份有限公司（以下简称"公司"）于 2025 年 4 月 12 日召 开第四届董事会第八次会议、2025 年 5 月 12 日召开 2024 年年度股东大会，分别 审议通过了《关于变更注册资本暨修订〈公司章程〉的议案》，具体内容详见公司 在巨潮资讯网披露的《关于变更注册资本暨修订〈公司章程〉的公告》（公告编号： 2025-022）。 成立日期：2004 年 04 月 27 日 ...

Group 1: AI in Education - The company has developed a product matrix including "Xiao Hong Assistant," "Essay Correction," and "Oral Calculation Correction" to enhance teacher efficiency and support personalized teaching [2][3] - The investment in "Pishen Essay" aims to provide AI-assisted writing services for middle and primary school students, positioning it as an AI tutor in the essay domain [3][4] - The digital resource platform has completed the deployment of version 1.0, including intelligent reading systems and resource libraries, facilitating targeted learning and teacher preparation [3][4] Group 2: Future Business Development - The company aims to leverage the over trillion yuan market size supported by various educational products and services, including AI+Education, to enhance its competitive advantage [4][5] - Plans include continuous upgrades to the AI functionalities of "Xiao Hong Assistant" and the promotion of its commercialization through integration with traditional media and digital resources [4][5] - The goal is to establish a comprehensive service system that integrates research, sales, service, and technology, focusing on content and educational services [5][6] Group 3: Company Highlights - The company has focused on K12 educational content for over 30 years, providing planning, writing, design, and production of teaching materials [5][6] - It aims to embrace the technological benefits brought by AI while maintaining steady internal growth and enhancing its product offerings [5][6] - The company is committed to adapting to the evolving educational landscape and increasing demand for high-quality, intelligent educational solutions [5][6]

Core Points - The company has approved a cash dividend distribution plan for the fiscal year 2024, with a total of 366,124,852 shares as the basis for distribution [1][2] - The proposed cash dividend is 0.55 RMB per 10 shares (including tax), amounting to a total cash dividend of approximately 20,136,866.86 RMB (including tax) [1][2] - The dividend distribution will not include stock bonuses or capital reserve transfers to increase share capital [1] Dividend Distribution Plan - The cash dividend distribution will be executed on a basis of 0.55 RMB per 10 shares, with specific tax implications for different types of shareholders [1][2] - The equity registration date is set for May 21, 2025, and the ex-dividend date is May 22, 2025 [2] - The distribution will be directly credited to the shareholders' accounts through their securities companies or other custodians [2] Shareholder Information - The dividend distribution is applicable to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shenzhen Branch as of the registration date [2] - The company assumes all legal responsibilities for any discrepancies in the cash dividend distribution due to changes in shareholders' account balances [2] Contact Information - For inquiries, shareholders can contact the company at its office in Zibo, Shandong Province, with provided contact details [2]

证券代码：300654 证券简称：世纪天鸿 公告编号：2025-034 世纪天鸿教育科技股份有限公司 2024 年度权益分派实施公告 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。 世纪天鸿教育科技股份有限公司（以下简称"公司"）2024年度权益分派方案 已获2025年5月12日召开的2024年年度股东会审议通过，现将权益分派事宜公告 如下： 一、股东会审议通过利润分配方案情况 1、公司2024年年度股东会审议通过的2024年度权益分派方案为：以公司现 有总股本366,124,852股为基数向全体股东每10股派发现金0.55元（含税），以此 计算合计拟派发现金红利20,136,866.86元（含税），本年度不进行送股及资本公 积 转 增 股 本 。 具 体 内 容 详 见 公 司 于 2025 年 4 月 15 日 在 巨 潮 资 讯 网 （www.cninfo.com.cn）披露的《关于2024年度利润分配预案的公告》（公告编号： 2025-017）。 2、自分配方案披露至实施期间公司股本总额未发生变化。 3、公司本次实施的权益分派方案与股东会审议通过的权益 ...