证券代码：300703 证券简称：创源股份 公告编号：2025-058 宁波创源文化发展股份有限公司 第四届董事会第十次会议决议公告 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、董事会会议召开情况 1、宁波创源文化发展股份有限公司（以下简称"公司"）第四届董事会第十 次会议（以下简称"本次董事会会议"）通知于 2025 年 10 月 31 日以电子邮件方 式发出。 2、本次董事会会议于 2025 年 11 月 5 日在公司会议室以通讯方式召开。 3、本次董事会会议应出席董事 9 名，实际出席会议的董事 9 名。会议由董 事长任召国先生主持，公司高级管理人员列席了会议。 4、本次董事会会议的召开和表决程序符合《公司法》等法律法规和《公司 章程》的规定。 二、董事会会议审议情况 与会董事以投票表决的方式审议通过了以下议案： 1、审议通过《关于聘任公司总裁的议案》 本议案已经公司董事会提名委员会审议通过。 表决结果为：同意 9 票，反对 0 票，弃权 0 票，此议案获得通过。 三、备查文件 1、宁波创源文化发展股份有限公司第四届董事会第十次会议决议； 2、宁 ...

证券代码：300703 证券简称：创源股份 公告编号：2025-057 宁波创源文化发展股份有限公司 关于聘任公司总裁的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、关于聘任公司总裁的情况 为确保公司各项经营管理工作顺利开展，鉴于叶晋盛先生在发展战略、投资 管理及资本运作等方面的优秀能力和丰富经验，结合公司下一步发展总体战略， 叶晋盛先生是现阶段加快公司转型的合适领导人选，故董事长提名叶晋盛先生为 公司总裁，公司于 2025 年 11 月 5 日召开的第四届董事会第十次会议审议通过了 《关于聘任公司总裁的议案》，同意聘任叶晋盛先生（简历附后）为公司总裁， 任期自本次董事会审议通过之日起至公司第四届董事会届满之日止。 二、备查文件 1、第四届董事会第十次会议决议。 特此公告。 宁波创源文化发展股份有限公司董事会 2025 年 11 月 5 日 附件： 简 历 1、叶晋盛先生：男，1978 年 9 月生，中国国籍，本科学历，中级经济师， 历任宁波城建投资控股有限公司投资发展部经理助理，宁波富达股份有限公司董 事、产业发展部经理、资产审计部经理，宁波市文化金融 ...

Group 1 - The core point of the news is that Chuangyuan Co., Ltd. experienced a decline in stock price by 5.13%, with the current share price at 26.82 yuan and a total market capitalization of 4.838 billion yuan [1] - Chuangyuan Co., Ltd. is based in Ningbo, Zhejiang Province, and was established on June 14, 2001. It was listed on September 19, 2017. The company specializes in the design, production, and sales of paper-based leisure cultural products [1] - The main revenue composition of Chuangyuan Co., Ltd. includes educational and leisure products at 55.38%, sports and fitness products at 32.88%, home living products at 7.39%, and others at 3.93% [1] Group 2 - Chuangjin Hexin Fund has one fund heavily invested in Chuangyuan Co., Ltd., specifically the Chuangjin Hexin Consumer Theme Stock A (003190), which held 126,200 shares, accounting for 3.96% of the fund's net value [2] - The fund has reported a floating loss of approximately 183,000 yuan as of the latest data [2] - The Chuangjin Hexin Consumer Theme Stock A fund was established on August 22, 2016, with a current scale of 34.4847 million yuan. Year-to-date returns are at 3.47%, ranking 4084 out of 4216 in its category [2]

Market Overview - The entertainment products sector increased by 1.23% on November 3, with Mingyue Lens leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Top Performers - Mingyue Lens (301101) closed at 43.94, up 6.39% with a trading volume of 75,400 shares and a transaction value of 324 million yuan [1] - Helen Piano (300329) closed at 18.25, up 5.43% with a trading volume of 120,500 shares and a transaction value of 217 million yuan [1] - Qunxing Toys (002575) closed at 6.40, up 3.39% with a trading volume of 326,400 shares and a transaction value of 207 million yuan [1] Underperformers - Jinling Sports (300651) closed at 22.13, down 5.43% with a trading volume of 151,700 shares [2] - Yuanfei Pets (001222) closed at 23.00, down 4.29% with a trading volume of 56,300 shares [2] - Zhejiang Nature (605080) closed at 24.48, down 1.45% with a trading volume of 20,800 shares [2] Capital Flow - The entertainment products sector experienced a net outflow of 4.75 million yuan from institutional investors, while retail investors saw a net inflow of 3.32 million yuan [2][3] - Major stocks like Guangbo Co. (002103) had a net inflow of 24.48 million yuan from institutional investors, while Mingyue Lens (301101) had a net inflow of 16.28 million yuan [3]

Group 1: Overall Market Performance - Domestic and international toy companies are experiencing a decline in performance due to macroeconomic challenges and tariff uncertainties, with notable declines in sales for major companies like Mattel, SpinMaster, and Jakks [1] - Hasbro managed to achieve an 8% revenue growth, reaching approximately $1.388 billion, through intensive promotion of its "Magic: The Gathering" IP and expansion of licensing [1] Group 2: Domestic IP-Related Companies - Among over 40 domestic IP-related companies listed on A-shares, less than half reported revenue growth, with only six companies achieving over 5% growth, including *ST Mubang, Xinghui Entertainment, Yuanlong Yatu, Chuangyuan Co., Guangbo Co., and Chenguang Co. [3] - Companies like *ST Mubang, Xinghui Entertainment, and Yuanlong Yatu saw significant revenue rebounds (over 30% year-on-year) after restructuring their business models and IP matrices [3] Group 3: Toy and Stationery Companies Performance - Morning Glory Co. reported a revenue of 6.519 billion yuan, a 7.52% increase, and a net profit of 391 million yuan, up 0.63% [4] - Yuanlong Yatu's revenue surged by 41.06% to 823 million yuan, with net profit increasing by 235.80% [4] - Xinghui Entertainment's revenue grew by 41.26% to 592 million yuan, with a net profit increase of 317.56% [4] - Guangbo Co. achieved an 8.71% revenue increase to 667 million yuan, with a net profit rise of 52% [4] Group 4: Film and Cultural Entertainment Companies Performance - Huazhi Shumei's revenue skyrocketed by 2634.01% to 66 million yuan, although it reported a net loss of 295 million yuan [6][18] - Chinese Film's revenue reached 1.212 billion yuan, a 35.61% increase, with net profit soaring nearly 15 times to 177 million yuan [21] - Shanghai Film's revenue doubled to 361 million yuan, with net profit increasing by 123.51% to 86 million yuan [22] - Light Media's revenue grew by 247.54% to 374 million yuan, with net profit increasing approximately tenfold to 106 million yuan [25] Group 5: Strategic Developments and Innovations - Xinghui Entertainment refocused on its core toy business after divesting its football operations, leading to a significant revenue increase [7] - Yuanlong Yatu's growth is attributed to cost reduction and efficiency improvements, alongside a strategic focus on both domestic and international IP collaborations [9] - Morning Glory Co. expanded its retail presence, with over 870 stores nationwide, and launched multiple collaborations with external IPs [12] - Real Rich Culture is emphasizing AI technology as a core innovation driver, planning to launch AI-themed toys in collaboration with Baidu Smart Cloud [16]

Group 1 - The core viewpoint of the article is that Chuangyuan Co., Ltd. (SZ 300703) has engaged with investors and provided insights into its business operations and revenue structure [1] - Chuangyuan Co., Ltd. will participate in an investor research meeting on October 29, 2025, with the company secretary Zhao Ya addressing investor inquiries [1] - For the year 2024, Chuangyuan Co., Ltd.'s revenue composition is entirely from the manufacturing of cultural education, arts and crafts, and sports and entertainment products, accounting for 100.0% [1] - As of the report, Chuangyuan Co., Ltd. has a market capitalization of 4.9 billion yuan [1]

Group 1: Financial Performance - The net profit margin of Ruitefei in the first three quarters of 2025 has slightly improved compared to the same period in 2024 [2] - Revenue from Ruitefei's official website in September has surpassed that of Amazon, indicating a significant brand effect in the U.S. fitness sector [2][3] Group 2: Growth Expectations - Ruitefei has optimistic growth expectations, with plans to expand into the European market starting from the German Amazon site [3] - The company aims to achieve a growth target of approximately 63% in revenue from its Vietnam operations in the first half of 2025 compared to the same period last year [4] Group 3: Product Strategy - Ruitefei's product pricing has slightly increased due to tariff adjustments, with a price range from several hundred to several thousand dollars [3] - The company focuses on providing solutions for small-area gyms, with a product structure that adapts to various consumer needs [3] Group 4: Market Expansion - The company is not solely focused on the German market but aims to cover the entire European market through its German Amazon site [4] - Efforts are being made to expand into non-U.S. markets, including the establishment of offices in the UK and Australia [4] Group 5: Domestic Business Development - The domestic IP cultural and creative business is being developed through partnerships with companies like Heiyi Capital and Tianluoxing [4][5] - The domestic creative team has nearly 100 members, focusing on optimizing personnel configuration and enhancing professional capabilities [5] Group 6: Resource Allocation - The company is prioritizing resource allocation towards the domestic cultural and creative market while maintaining steady growth in the export creative business [5] - Ruitefei's sports fitness business is a key focus area, with a team size nearing 130 members and a strong emphasis on independent operations and revenue management [5]

Market Overview - The entertainment products sector experienced a decline of 0.33% on October 30, with Zhejiang Zhengte leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Notable gainers included: - Helen Piano (300329) with a closing price of 17.57, up 7.59% and a trading volume of 180,300 shares, totaling 311 million yuan [1] - Source Pet (001222) closed at 24.51, up 2.21% with a trading volume of 66,300 shares, totaling 162 million yuan [1] - Major decliners included: - Zhejiang Zhengte (001238) closed at 49.33, down 3.08% with a trading volume of 8,368 shares, totaling 41.9 million yuan [2] - Huali Technology (301011) closed at 25.65, down 2.88% with a trading volume of 32,400 shares, totaling 83.57 million yuan [2] Capital Flow - The entertainment products sector saw a net outflow of 69.16 million yuan from institutional investors, while retail investors contributed a net inflow of 66.54 million yuan [2] - Specific stock capital flows included: - Morning Light Co. (6688809) had a net inflow of 11.21 million yuan from institutional investors [3] - Source Pet (001222) saw a net inflow of 10.59 million yuan from institutional investors [3] - Zhejiang Zhengte (001238) experienced a net outflow of 0.53 million yuan from institutional investors [3]

Key Highlights - Cambridge Technology currently does not produce chips containing CPO technology [1] - TCL Technology plans to invest 29.5 billion yuan in the construction of an 8.6-generation printed OLED production line [1] - Huakang Clean has won the bid for a "medical service construction project" [1] - Aotewei intends to acquire an 8.99% stake in its subsidiary Songci Electromechanical [1] - Shanghai Yizhong plans to repurchase shares worth 30 million to 35 million yuan [1] - Huaton Co. reported a pig sales revenue of 338 million yuan in August [1] - Tianma Technology has accumulated approximately 11,921.59 tons of eel out of the pool from January to August [1] - Mars Man's controlling shareholder plans to reduce holdings by no more than 2.94% [1] - Zhiwei Intelligent's actual controller plans to reduce holdings by no more than 2.9749% [1] - Donglin Investment plans to reduce holdings in Jin'an Guoji by no more than 2.878% [1] - Zhonglun New Materials intends to issue convertible bonds not exceeding 1.068 billion yuan [1] - Tuojing Technology plans to raise no more than 4.6 billion yuan through a private placement [1] Investment Projects - TCL Technology (000100.SZ) plans to invest 29.5 billion yuan in the construction of an 8.6-generation printed OLED production line [1] - Guangdong Jianke (301632.SZ) intends to invest in the implementation of the second phase of the Guangdong Jianke·Zhongshan Smart Gathering Project [1] - Nanfeng Co. (300004.SZ) plans to invest 50 million yuan in fixed assets for a 3D printing service project [1] Contracts and Acquisitions - Huakang Clean (301235.SZ) has won the bid for a "medical service construction project" [1] - Aotewei (688516.SH) intends to acquire an 8.99% stake in its subsidiary Songci Electromechanical [1] - Tianhua New Energy (300390.SZ) plans to acquire a 75% stake in Suzhou Tianhua Times [1] Share Buybacks - Chuangyuan Co. (300703.SZ) plans to repurchase 1.55% to 2.05% of its shares [2] - Yishitong (688733.SH) intends to repurchase shares worth 30 million to 55 million yuan [2] - Shanghai Yizhong (688091.SH) plans to repurchase shares worth 30 million to 35 million yuan [2] Operational Data - Huaton Co. (002840.SZ) reported a pig sales revenue of 338 million yuan in August [2] - Tianma Technology (603668.SH) has accumulated approximately 11,921.59 tons of eel out of the pool from January to August [2] Shareholding Changes - Sudda Co. (001277.SZ) plans to reduce holdings by no more than 3% [2] - Mars Man (300894.SZ) plans to reduce holdings by no more than 2.94% [2] - Zhiwei Intelligent (001339.SZ) plans to reduce holdings by no more than 2.9749% [2] - Jin'an Guoji (002636.SZ) plans to reduce holdings by no more than 2.878% [2] Other Financial Activities - China Merchants Shekou (001979.SZ) plans to issue preferred shares to raise no more than 8.2 billion yuan for real estate project construction [2] - Zhonglun New Materials (301565.SZ) intends to issue convertible bonds not exceeding 1.068 billion yuan [2] - Keli'er (002892.SZ) plans to raise no more than 1.006 billion yuan through a private placement [2] - Tuojing Technology (688072.SH) plans to raise no more than 4.6 billion yuan through a private placement [2]

Company Overview - Chuangyuan Co., Ltd. was established on June 14, 2001, and listed on the Shenzhen Stock Exchange on September 19, 2017. The company is based in Ningbo, Zhejiang Province, and is a well-known enterprise in the cultural and recreational products sector, primarily engaged in stationery exports. It has advantages in flexible large-scale production and an international supply chain system [1] Financial Performance - As of Q3 2025, Chuangyuan's revenue reached 1.602 billion yuan, ranking 4th in the industry. The top competitor, Morning Glory, reported revenue of 17.328 billion yuan, while the industry average was 5.825 billion yuan [2] - The company's net profit for the same period was 98.8342 million yuan, placing it 5th in the industry. Morning Glory led with a net profit of 973 million yuan, and the industry average was 299 million yuan [2] Profitability and Debt - Chuangyuan's debt-to-asset ratio stood at 50.61% in Q3 2025, up from 49.22% year-on-year, which is higher than the industry average of 43.06% [3] - The company's gross profit margin was 34.13%, an increase from 30.58% year-on-year, exceeding the industry average of 27.82% [3] Shareholder Structure - The controlling shareholder of Chuangyuan is Zhejiang Ninglv Enterprise Management Co., Ltd., with actual control held by the State-owned Assets Supervision and Administration Commission of Ningbo [4] Shareholder Changes - As of September 30, 2025, the number of A-share shareholders decreased by 41.64% to 15,700, while the average number of shares held per shareholder increased by 71.34% to 10,800 shares. Notably, GF Electronic Information Media Stock A became the fourth-largest shareholder with 3.0578 million shares [5] - The company plans to repurchase shares through centralized bidding, with an estimated repurchase amount of 116 to 150 million yuan, and intends to invest 50 million yuan in establishing the Ningbo Heiyi No. 4 Equity Investment Partnership [5] Business Segments and Growth - Chuangyuan's main business includes stationery exports, with three major segments: cultural and recreational products, sports and fitness, and home living. The sports and fitness segment has emerged as a second growth curve [6] - The company aims to enhance its domestic market focus in 2025 by developing "IP + technology + cultural and creative" products. Revenue projections for 2025, 2026, and 2027 are 2.465 billion, 3.137 billion, and 3.754 billion yuan, respectively, with net profits of 120 million, 250 million, and 360 million yuan [6]