二、本次控股股东股权结构变更前后公司控制关系情况 （一）本次股权结构变更前，公司与控股股东及其一致行动人之间的控制关 系如下图所示： 证券代码：300654 证券简称：世纪天鸿 公告编号：2025-048 世纪天鸿教育科技股份有限公司 关于控股股东股权结构变更暨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。 世纪天鸿教育科技股份有限公司（以下简称"公司"）近日接到控股股东新疆 志鸿教育投资（集团）有限公司（以下简称"志鸿教育"）的通知，获悉志鸿教育的 股权结构、企业类型及经营范围发生变更，并办理完成了相关工商变更登记手续。 现将有关情况公告如下： 一、本次控股股东股权结构变更情况 志鸿教育原自然人股东吕宝贵女士与任志鸿先生签署了《股权转让协议》，吕 宝贵女士将其所持有的志鸿教育 34.0909%的股权转让给任志鸿先生，并办理完成 了工商变更登记手续。本次变更后，吕宝贵女士不再持有志鸿教育股权，任志鸿 先生持有志鸿教育 100%的股权。志鸿教育本次股权结构变更情况如下： | 股东名称 | 本次变更前 | | 本次变更后 | | | --- ...

Core Viewpoint - The publishing sector experienced a decline of 1.2% on September 15, with major stocks like Guomai Culture leading the drop, while the Shanghai Composite Index fell by 0.26% and the Shenzhen Component Index rose by 0.63% [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3860.5, down 0.26% [1]. - The Shenzhen Component Index closed at 13005.77, up 0.63% [1]. - The publishing sector saw a net outflow of 462 million yuan from major funds, while retail investors contributed a net inflow of 407 million yuan [3]. Group 2: Individual Stock Performance - Tianzhou Culture (300148) closed at 5.03, with an increase of 1.21% and a trading volume of 513,100 shares [1]. - Rongxin Culture (301231) closed at 24.81, up 0.53% with a trading volume of 27,400 shares [1]. - Zhongwen Media (600373) remained unchanged at 10.22, with a trading volume of 156,000 shares [1]. - Other notable stocks include China Publishing (600373) at 7.12 (0.00%), New Classics (603096) at 18.15 (-0.27%), and Shiji Tianhong (300654) at 10.21 (-0.29%) [1].

世纪天鸿公告，控股股东志鸿教育将其所持有的公司2120万股质押，占其所持股份比例12.40%，占公 司总股本比例5.79%，质押用途为融资。质押起始日为2025年9月9日和2025年9月10日，质权人为国金 证券股份有限公司和中信建投证券股份有限公司。同时，志鸿教育还解除质押1520万公司股份，占其所 持股份比例8.89%，占公司总股本比例4.15%，起始日期为2025年2月17日，解除日期为2025年9月11 日，质权人为国金证券股份有限公司。 ...

注：本次质押股份不存在负担重大资产重组等业绩补偿义务。 二、股东股份解除质押的基本情况 | | 是否为控 | | 占其所 | 占公司 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 股股东或 | 本次解除质 | 持股份 | 总股本 | | | | | 股东名称 | 第一大股 | 押股份数量 | | | 起始日期 | 解除日期 | 质权人 | | | | | 比例 | 比例 | | | | | | 东及其一 | （股） | （%） | （%） | | | | | | 致行动人 | | | | | | | | | | | | | | | 国金证券 | | --- | --- | --- | --- | --- | --- | --- | --- | | 志鸿教育 | 控股股东 | 15,200,000 | 8.89 | 4.15 | 2025-02-17 | 2025-09-11 | 股份有限 | | | | | | | | | 公司 | 世纪天鸿教育科技股份有限公司 关于控股股东部分股份质押及解除质押的公告 本公司及董事会全体成员保证信 ...

Group 1 - The company, Century Tianhong (300654), reported that as of September 10, 2025, the latest number of shareholders is 30,297 [1]

Market Overview - On September 11, the publishing sector rose by 0.48%, with Longban Media leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Individual Stock Performance - Longban Media (605577) closed at 14.90, up 5.30% with a trading volume of 169,300 shares and a turnover of 248 million yuan [1] - Guomai Culture (301052) closed at 79.37, up 3.60% with a trading volume of 49,300 shares and a turnover of 380 million yuan [1] - Inner Mongolia Xinhua (603230) closed at 12.97, up 2.13% with a trading volume of 60,800 shares and a turnover of 7.75 million yuan [1] - China Science Publishing (601858) closed at 21.37, up 0.85% with a trading volume of 77,300 shares and a turnover of 163 million yuan [1] - Other notable stocks include Phoenix Media (601928) and Chinese Online (300364), with respective turnovers of 183 million yuan and 2.23 billion yuan [1] Capital Flow Analysis - The publishing sector experienced a net outflow of 431 million yuan from institutional investors, while retail investors saw a net inflow of 433 million yuan [2] - The data indicates that retail investors are actively participating in the market despite the overall net outflow from institutional funds [2] Detailed Capital Flow for Selected Stocks - Longban Media had a net inflow of 17.24 million yuan from institutional investors, while retail investors had a net outflow of 23.03 million yuan [3] - Chinese Media (600373) saw a net inflow of 16.56 million yuan from institutional investors, with retail investors also experiencing a net outflow [3] - Other stocks like Changjiang Media (600757) and Tianzhou Culture (300148) showed mixed capital flows, with institutional inflows and retail outflows [3]

世纪天鸿 20250908 摘要 世纪天鸿加大营销渠道建设和 AI 产品开发投入，预期未来将在业务和利 润上有所体现，尤其是在 AI 教育领域，公司凭借高质量内容和对校内场 景的深刻理解具备显著优势。 小红助教最新版本新增核心素养教案生成、AI 出题、自建 AI 智能体和个 人知识库三大功能，已在部分地区学校及教育局进行商业化试点，每个 账号年费约 600 元，目前免费注册用户超 24 万，累计批改作文超 100 万篇。 小红系列产品包括小红助教（教师端）、小红助学（学生端）和小红助 育（家长端），通过教师端需求延伸至学生端和家长端，并投资笔神作 文项目，丰富 AI 教育生态系统。 小红助教通过精准课内内容编辑、AI 出题、智能体创建和知识库上传等 核心功能提升教学效果，AI 出题功能通过向量化处理语料，实现个性化 定制和高准确度，区别于传统题库。 小红助教定位为面向学校的 to B SaaS 产品，重点拓展北京、天津、山 东和江苏市场，商业化模式包括标准化 SaaS 和非标项目落地，并采用 知识库工具解决大模型幻觉问题。 Q&A 今年（2025 年）中期业绩情况如何？ 今年（2025 年）中期业绩与往年相比 ...

Core Viewpoint - The publishing industry is experiencing a decline in revenue but an increase in net profit, indicating a shift in operational dynamics and reliance on specific segments like educational materials [1][9]. Revenue Summary - Total revenue for publishing companies in the first half of 2025 was 65.192 billion yuan, a decrease of 7.9% year-on-year [1]. - Five companies exceeded 5 billion yuan in revenue, with Phoenix Media leading at 7.113 billion yuan, followed by Central South Media at 6.335 billion yuan [2]. - Among the 10 companies with revenue between 1 billion and 5 billion yuan, only three reported year-on-year growth, indicating a broader decline in revenue across the sector [2]. Profit Summary - Net profit for the publishing sector reached 8.224 billion yuan, an increase of 9.29% year-on-year, with 10 companies reporting net profits exceeding 1 billion yuan [1][3]. - Central South Media entered the "10 billion club" with a net profit of 1.017 billion yuan, while Phoenix Media maintained its lead with 1.586 billion yuan [2][3]. - The number of companies with net profit growth has increased, with notable growth rates such as Central South Media's 50.39% increase [2][3]. Non-Operating Profit Summary - Excluding non-recurring items, Phoenix Media led with a non-operating profit of 1.514 billion yuan, followed by Central South Media at 0.995 billion yuan [3][4]. - Among the 13 companies reporting non-operating profits, only three experienced a decline, while the rest saw growth of over 10% [3][4]. Company Type Analysis - Comprehensive publishing companies, which include publishing and distribution, showed a revenue decline with only one company reporting growth, while 10 maintained profit growth [5]. - Pure publishing companies, such as Times Publishing and China Publishing, reported revenue and profit growth, particularly benefiting from educational materials [6]. - The digital publishing sector, represented by companies like iReader Technology and Chinese Online, faced challenges with significant profit declines despite revenue growth [10]. Tax Policy Impact - The continuation of tax exemption policies for certain publishing companies has significantly contributed to profit growth, with companies like Central South Media and Zhejiang Publishing reporting substantial increases in net profit due to these policies [7][8]. Market Trends and Challenges - The publishing industry is facing challenges from changing consumer demands, particularly in the educational materials sector, which has been a traditional revenue driver [12][14]. - Companies are increasingly focusing on digital transformation and innovative business models to adapt to market changes, with many investing in new content and technology [15][18]. Financial Management - Many publishing companies are utilizing idle funds for financial management, indicating a cautious approach to capital allocation amid operational challenges [17][18]. - The total cash and cash equivalents held by the 28 publishing companies reached 58.1 billion yuan, highlighting the need for effective capital utilization to drive innovation [18].

Market Overview - The Shanghai Composite Index closed at 3857.93 points, with a change of 0.37% [2] - The total trading volume of A-shares reached 28301.97 billion yuan [2] Technical Analysis - A total of 137 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [2] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Shijin Technology: 5-day MA at 18.72 yuan, 10-day MA at 19.11 yuan, a difference of -2.03% [2] - Guandian: 5-day MA at 5.05 yuan, 10-day MA at 5.12 yuan, a difference of -1.31% [2] - Furande: 5-day MA at 15.28 yuan, 10-day MA at 15.46 yuan, a difference of -1.16% [2] Individual Stock Performance - Shijin Technology saw a decline of 11.39% with a turnover rate of 12.22% [2] - Guandian experienced a slight decrease of 0.62% with a turnover rate of 0.83% [2] - Furande increased by 1.89% with a turnover rate of 0.90% [2] - Other notable declines include: - Century Tianhong: down 2.59% [2] - Qiji: down 1.63% [2] - Xuanya: down 2.62% [2] Summary of Key Stocks - Stocks with significant declines and their respective metrics include: - Shijin Technology: latest price at 16.73 yuan, deviating -12.45% from the 10-day MA [2] - Guandian: latest price at 4.78 yuan, deviating -6.55% from the 10-day MA [2] - Furande: latest price at 15.12 yuan, deviating -2.21% from the 10-day MA [2]

Core Viewpoint - The publishing sector experienced a decline of 0.43% on August 29, with Inner Mongolia Xinhua leading the drop. The Shanghai Composite Index rose by 0.37% to close at 3857.93, while the Shenzhen Component Index increased by 0.99% to 12696.15 [1]. Group 1: Stock Performance - ST Huawen (000793) closed at 2.59, up 4.86% with a trading volume of 390,300 shares and a turnover of 100 million yuan [1]. - China Science Publishing (601858) closed at 21.53, up 2.23% with a trading volume of 333,300 shares and a turnover of 747 million yuan [1]. - Inner Mongolia Xinhua (603230) closed at 14.09, down 6.44% with a trading volume of 217,900 shares and a turnover of 314 million yuan [2]. - Zhongyuan Media (000719) closed at 13.02, down 4.62% with a trading volume of 182,000 shares and a turnover of 241 million yuan [2]. - The overall trading volume and turnover for the publishing sector indicate varied performance among individual stocks, with some showing significant gains while others faced declines [1][2]. Group 2: Capital Flow - The publishing sector saw a net outflow of 260 million yuan from institutional investors, while retail investors contributed a net inflow of 319 million yuan [2]. - The data suggests a divergence in investor sentiment, with institutional investors pulling back while retail investors increased their positions in the sector [2].