Group 1 - The core point of the article is that Century Tianhong (SZ 300654) announced a reduction in asset impairment provisions, which will decrease the total profit of the consolidated financial statements by approximately 5.72 million yuan before the third quarter of 2025 [1] - As of the report date, Century Tianhong's market capitalization is 3.6 billion yuan [1] Group 2 - For the first half of 2025, Century Tianhong's revenue composition is as follows: 86.37% from educational auxiliary books, 7.86% from planning service fees, 3.11% from sales of cultural and educational products, 1.31% from other businesses, and 1.01% from consulting services [1]

Core Viewpoint - Century Tianhong (SZ 300654) announced the convening of its 13th board meeting for the fourth session on October 27, 2025, to review the proposal for the third quarter report of 2025 [1] Financial Performance - For the first half of 2025, Century Tianhong's revenue composition was as follows: 86.37% from educational auxiliary books, 7.86% from planning service fees, 3.11% from sales of cultural educational tools, 1.31% from other businesses, and 1.01% from consulting services [1] Market Capitalization - As of the report, Century Tianhong's market capitalization stood at 3.6 billion yuan [1]

Core Insights - Century Tianhong, a leading private educational publishing company, reported a revenue of 382 million yuan and a net profit of 25.81 million yuan for the first three quarters of 2025, demonstrating stable performance amid challenges in the educational support industry [1] - The company's core strength lies in its traditional educational support business, which continues to contribute significantly to its performance [1] - Century Tianhong is actively embracing the trend of digitalization in education, particularly through the integration of AI technology, positioning AI+Education as a second growth curve [1][2] Business Strategy - The company has been focusing on deepening its traditional educational support business while implementing a "product + service" operational philosophy [1] - Century Tianhong is advancing its "research-sales-service-integration" strategy to enhance content planning and product design capabilities, thereby solidifying its competitive advantage [1] - The company has accelerated the construction of digital systems, with a digital resource platform currently in trial operation, including the deployment of intelligent reading systems and resource libraries [1] AI Integration - The "Xiao Hong Assistant" AI tool has made significant progress, having launched a commercial pilot in the second quarter of this year, with deployment in numerous primary and secondary schools across the country [2] - The company is collaborating with Hangzhou Zhijuan Star Technology Co., Ltd. to deepen the integration of AI in educational scenarios, focusing on content upgrades, product development, market expansion, and capital synergy [2] - This strategic partnership is expected to enhance Century Tianhong's position in the rapidly growing smart education market, paving the way for future revenue growth [2]

证券代码：300654 证券简称：世纪天鸿 公告编号：2025-058 世纪天鸿教育科技股份有限公司 关于计提资产减值准备的公告 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、本次计提资产减值准备的情况 （一）本次计提资产减值准备的原因 为真实反映世纪天鸿教育科技股份有限公司（以下简称"公司"）的财务状 况和资产价值，依据《企业会计准则》及公司会计政策的相关规定，公司对截止 2025 年 9 月 30 日公司合并报表范围内各类资产进行了全面清查和减值测试，对 可能发生资产减值损失的资产计提资产减值准备及信用减值准备。 （二）本次计提资产减值准备的范围和金额 2025 年前三季度，公司计提的各项资产减值准备金额（损失以"-"号填列） 合计-5,721,149.97 元，具体情况如下： | 类别 | 项目名称 | 2025年 1-9月计提金额（元） | | --- | --- | --- | | 信用减值准备 | 坏账准备 | 663,942.39 | | （损失以"-"号填列） | | | | 资产减值准备 | 存货跌价准备 | -6,385,092.36 ...

证券代码：300654 证券简称：世纪天鸿 公告编号：2025-056 世纪天鸿教育科技股份有限公司 第四届董事会第十三次会议决议公告 1、审议通过《关于公司 2025 年第三季度报告的议案》 经审议，公司编制的《2025 年第三季度报告》的内容真实、准确、完整地反 映了公司 2025 年第三季度经营的实际情况，不存在任何虚假记载、误导性陈述或 者重大遗漏；报告编制和审核的程序符合法律、行政法规和中国证监会的规定。 本议案已经公司第四届董事会审计委员会 2025 年第四次会议审议通过。公司 《 2025 年 第 三 季 度 报 告 》 的 具 体 内 容 详 见 公 司 同 日 在 巨 潮 资 讯 网 （www.cninfo.com.cn）披露的公告。 表决结果：同意 7 票、反对 0 票、弃权 0 票。 三、备查文件 1、公司第四届董事会第十三次会议决议。 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"）第四届董事会第十三次 会议于 2025 年 10 月 27 日在公司会议室以现场结合通讯方 ...

Financial Performance - The company's revenue for Q3 2025 was CNY 226,048,317.50, representing a year-on-year increase of 0.33%[4] - Net profit attributable to shareholders decreased by 3.60% to CNY 23,056,600.92 in Q3 2025, and year-to-date net profit decreased by 18.01% to CNY 25,812,208.80[4] - The company's basic earnings per share for Q3 2025 was CNY 0.063, down 3.08% compared to the same period last year[4] - Total operating revenue for the current period was ¥381,569,820.99, a decrease of 1.8% compared to ¥388,272,180.22 in the previous period[19] - Net profit for the current period was ¥26,398,179.21, down 20.8% from ¥33,355,104.40 in the previous period[20] - Earnings per share (EPS) for the current period was ¥0.071, compared to ¥0.086 in the previous period, indicating a decline in profitability[20] Cash Flow - The cash flow from operating activities for the year-to-date period increased by 79.25% to CNY 67,941,662.84[4] - Operating cash flow net amount increased to ¥67,941,662.84 from ¥37,903,855.01, representing an increase of 79.8% year-over-year[21] - Total cash inflow from investment activities surged to ¥3,265,745,293.57 compared to ¥233,260,453.05 in the previous period, marking a significant increase of 1,300.5%[21] - Cash outflow from investment activities was ¥3,160,246,855.08, up from ¥480,393,189.41, indicating a rise of 558.5%[21] - Net cash flow from investment activities improved to ¥105,498,438.49 from a negative ¥247,132,736.36, showing a turnaround[21] - Cash and cash equivalents at the end of the period reached ¥368,793,251.42, compared to ¥171,349,805.47 in the previous period, an increase of 115.5%[22] - Cash inflow from financing activities totaled ¥176,020.99, down from ¥6,735,897.59, a decrease of 97.4%[22] - Cash outflow from financing activities was ¥22,569,948.40, slightly up from ¥22,508,816.10, an increase of 0.3%[22] - Net cash flow from financing activities decreased to -¥22,393,927.41 from -¥15,772,918.51, reflecting a worsening of 42.0%[22] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,180,768,692.92, reflecting a 4.74% increase from the previous year[4] - Total current assets rose to ¥1,020,223,857.63 from ¥980,601,780.08, an increase of about 4.9%[16] - Total assets increased to ¥1,180,768,692.92 from ¥1,127,350,271.47, showing a growth of approximately 4.7%[18] - Total liabilities rose to ¥314,816,592.73 from ¥264,772,760.16, marking an increase of about 18.9%[18] - The company's total liabilities included a 186.22% increase in notes payable, amounting to CNY 27,959,267.55, primarily due to the use of acceptance bills for procurement payments[8] Shareholder Information - Total number of common shareholders at the end of the reporting period is 28,858[11] - The largest shareholder, Xinjiang Zhihong Education Investment, holds 46.71% of shares, totaling 171,031,555 shares, with 39,800,000 shares pledged[11] - The number of shares held by the top ten unrestricted shareholders includes Xinjiang Zhihong Education Investment with 171,031,555 shares[12] - The company has not reported any changes in the participation of major shareholders in margin trading or securities lending[12] Research and Development - Research and development expenses surged by 175.92% to CNY 7,032,108.99 for the year-to-date period, primarily due to increased personnel costs and project expenditures[9] - Research and development expenses rose significantly to ¥7,032,108.99, compared to ¥2,548,628.29 in the previous period, highlighting increased investment in innovation[19]

Core Insights - The publishing sector experienced a rise of 1.46% on October 23, with Rongxin Culture leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index also rose by 0.22% to 13025.45 [1] Publishing Sector Performance - Rongxin Culture saw a significant increase of 20.01%, closing at 38.03, with a trading volume of 162,600 shares and a transaction value of 585 million [1] - Other notable performers included: - Zhongwen Online, up 6.28% to 27.58, with a transaction value of 2.336 billion [1] - Guomai Culture, up 4.31% to 47.40, with a transaction value of 786 million [1] - Duku Culture, up 3.64% to 9.96, with a transaction value of 159 million [1] - The total net inflow of funds in the publishing sector was 313 million, while retail investors saw a net outflow of 147 million [1] Fund Flow Analysis - Zhongwen Online had a net inflow of 303 million from institutional investors, representing 12.97% of its total trading [2] - Rongxin Culture experienced a net inflow of 70.7 million from institutional investors, accounting for 12.08% [2] - Guomai Culture had a net inflow of 46.3 million from institutional investors, making up 5.89% [2] - Retail investors showed a net outflow across several stocks, with Duku Culture seeing a net outflow of 29.4 million, which is 18.48% of its total trading [2]

Group 1 - The core point of the article is that Century Tianhong (300654) reported its latest shareholder count as of October 20, 2025, which stands at 27,890 households [1]

Core Viewpoint - Century Tianhong announced the election of Mr. Zhang Xuejun as the employee representative director of the company's fourth board of directors during the employee representative meeting scheduled for October 20, 2025 [2] Group 1 - The employee representative meeting will take place on October 20, 2025 [2] - Mr. Zhang Xuejun has been elected as the employee representative director [2]

一、关于董事辞任的情况 世纪天鸿教育科技股份有限公司（以下简称"公司"）于近日收到董事张学军 先生的书面辞职报告。因公司治理结构调整，张学军先生申请辞去公司第四届董 事会董事职务，辞职后将继续在公司担任其他职务。张学军先生担任公司董事的 原定任期至第四届董事会届满之日，其辞职报告自送达公司董事会之日起生效。 张学军先生的辞任不会导致公司董事会成员低于法定最低人数，张学军先生不存 在应履行而未履行的公开承诺。 证券代码：300654 证券简称：世纪天鸿 公告编号：2025-055 世纪天鸿教育科技股份有限公司 关于董事辞任暨选举职工代表董事的公告 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。 二、关于选举职工代表董事的情况 根据《中华人民共和国公司法》《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》等法律法规、规范性文件以及《公司章程》的 有关规定，公司于 2025 年 10 月 20 日召开职工代表大会，会议选举张学军先生（简 历附后）为公司第四届董事会职工代表董事，任期自职工代表大会选举之日起至 第四届董事会任期届满之日止。 张学 ...