中信出版集团股份有限公司 关于财务总监辞职暨副总经理代行财务总监职责的公告 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。 证券代码：300788 证券简称：中信出版 公告编号：2025-013 为确保公司财务管理工作的平稳、有序运行，经公司董事会审计委员会的事 前同意，公司于2025年4月11日召开第五届董事会第二十六次（临时）会议，审 议通过了《关于副总经理代行财务总监职责的议案》，同意在董事会聘任新财务 总监之前，由汪媛媛女士（简历详见附件）代为履行财务总监职责。 特此公告。 中信出版集团股份有限公司董事会 2025年4月11日 附件：代行财务总监人员简历 汪媛媛女士，生于1970年11月，中国国籍，无境外永久居留权，本科学历， 毕业于浙江大学经济学专业。曾任本公司财务部主任、总经理助理、财务负责人。 现任本公司副总经理、党委委员。 汪媛媛女士与公司控股股东、实际控制人、持股5%以上的股东及公司其他董 事、监事、高级管理人员不存在关联关系，未受过中国证监会及其他有关部门的 处罚和证券交易所惩戒，不存在《中华人民共和国公司法》《深圳证券交易所上 市公司自律 ...

证券代码：300788 证券简称：中信出版 公告编号：2025-012 中信出版集团股份有限公司 第五届董事会第二十六次（临时）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 中信出版集团股份有限公司（以下简称"公司"）第五届董事会第二十六 次（临时）会议于2025年4月11日以现场结合通讯方式召开，会议通知于2025年 4月9日以邮件方式发出。本次董事会应表决董事9人，实际表决董事9人。本次 会议由公司董事长陈炜先生召集和主持，公司监事、高级管理人员列席了本次 会议。本次会议为紧急临时会议，董事长在会议上就相关情况进行了说明。本 次会议的召集、召开符合相关法律、行政法规、部门规章、规范性文件及《公 司章程》的有关规定。 1. 审议通过《关于副总经理代行财务总监职责的议案》 黄征先生因工作调整辞去公司财务总监职务，为确保公司财务管理工作的 平稳、有序运行，在董事会聘任新财务总监之前，同意由公司副总经理汪媛媛 女士代行财务总监职责。 表决情况：9票赞成，0票反对，0票弃权。 三、备查文件 1.公司第五届董事会第二十六次（临时 ...

Group 1: Market Overview - The book retail market in 2024 decreased by 2.69% compared to 2023, with a significant narrowing of the decline [1] - Structural changes in the market include rapid growth in extracurricular educational materials and an increasing share of leisure and comic books [1] - B-end sales are continuously improving due to increased government support for public cultural services and national reading initiatives [1] Group 2: Business Performance - The company's sales in the corporate service sector grew by over 16% [2] - The newly launched animation product line saw a year-on-year growth exceeding 25% [2] - The company achieved a gross profit margin increase of 4.09 percentage points, with management and sales expenses decreasing [5] Group 3: Strategic Initiatives - The company is focusing on building an IP operation ecosystem and a digital upgrade ecosystem to drive growth [9] - Plans include the implementation of a "New Economy Publishing Project" and an upgrade of the children's reading system [9] - The company aims to enhance its membership and rights systems while expanding its cultural space operations [10] Group 4: Financial Highlights - In 2023, the company reported a net profit of 116 million yuan and a net profit of 62 million yuan after deducting non-recurring items [8] - The projected net profit for 2024 is 119 million yuan, reflecting a year-on-year growth of 1.99% [8] - The company plans to distribute 3.18 yuan per 10 shares as dividends, with cumulative cash dividends over the past three years amounting to 186.35 million yuan, accounting for 51.60% of the cumulative net profit [8] Group 5: Challenges and Responses - The book retail market continues to face challenges, but structural adjustments present market opportunities [7] - The company has established a self-built content e-commerce system and a private traffic system to enhance price control capabilities [7] - The company is actively pursuing digital transformation and has launched an AI-driven publishing platform to improve efficiency [7][11] Group 6: Future Outlook - The company plans to expand into new business areas and product lines to enhance profitability [19] - The focus will be on integrating AI technology into various business segments to drive innovation and efficiency [15][16] - The company aims to leverage favorable government policies to accelerate growth and enhance shareholder returns [8][9]

Group 1 - The company will hold the 2024 annual performance briefing on April 3, 2025, from 15:00 to 16:00 via an online platform [1][3] - The briefing aims to enhance communication with small and medium investors and provide insights into the company's operational status [1][2] - Key personnel attending the briefing include the Chairman, Vice Chairman and General Manager, Independent Director, Chief Financial Officer, and Secretary of the Board [1] Group 2 - The company is soliciting questions from investors in advance to improve the efficiency of the communication during the performance briefing [2] - Investors can submit their questions via email until April 2, 2025, at 17:00 [2] - Participation in the briefing can be done through the investor relations interactive platform on the specified website [3]

证券代码：300788 证券简称：中信出版 公告编号：2025-011 中信出版集团股份有限公司 关于举行 2024 年度业绩说明会的公告 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。 欢迎广大投资者积极参与本次网上业绩说明会。 1 特此公告。 中信出版集团股份有限公司董事会 中信出版集团股份有限公司（以下简称"公司"）于 2025 年 3 月 18 日在中 国证监会指定信息披露网站巨潮资讯网披露了《2024 年年度报告》及其摘要。 为方便广大投资者进一步了解公司的经营情况，加强与中小投资者的沟通交流， 公司将于 2025 年 4 月 3 日（星期四）15:00－16:00 在全景网举办 2024 年度业绩 说明会。本次年度业绩说明会将采用网络远程的方式举行，投资者可登录全景网 "投资者关系互动平台"（http://ir.p5w.net）参与本次年度业绩说明会。现就相关 事宜公告如下： 一、出席人员 出席本次年度业绩说明会的人员有：公司董事长陈炜先生、副董事长兼总经 理段甲强先生，独立董事张志跃先生，财务总监黄征先生，董事会秘书张海东先 生。 二、提前征集投 ...

Investment Rating - The report maintains a "Buy" investment rating for the company [2][9] Core Views - The company is positioned as a leader in popular reading and is actively engaging in the construction of a culturally strong nation through its business strategies [2][9] - The company’s main revenue streams include book publishing and distribution, digital services, and urban cultural space operations, with total revenue for 2024 projected at 1.687 billion yuan, showing a slight decline of 1.72% year-on-year [4][9] - The company is leveraging AI technology to enhance its publishing capabilities and has seen significant growth in its IP-related businesses, particularly in the animation sector, which grew over 25% year-on-year in 2024 [5][9] Financial Performance - In 2024, the company reported total revenue of 1.687 billion yuan, with net profit attributable to shareholders at 119 million yuan, reflecting a year-on-year growth of 2.0% [11] - The company’s gross margin improved by 4.09 percentage points, driven by the application of digital technologies that enhance efficiency and reduce costs [4][9] - Forecasts for 2025-2027 indicate revenue growth to 1.739 billion yuan, 1.820 billion yuan, and 1.905 billion yuan respectively, with net profit expected to reach 163 million yuan, 202 million yuan, and 224 million yuan [9][11] Industry Insights - The overall book retail market in China is projected to decline slightly in 2024, with a total market value of 112.9 billion yuan, down 1.52% year-on-year [6] - The government is promoting reading through new regulations aimed at enhancing public access to reading facilities, which may provide growth opportunities for the company [6][9]

Summary of Citic Publishing Conference Call Industry Overview - The overall book retail market is expected to decline in 2024, but Citic Publishing's financial performance is better than the industry average [3] - The company has experienced a slight decrease in book publishing and distribution revenue, but sales volume reached over 40 million copies, a year-on-year increase of 4.46% [3] Key Points and Arguments - Despite a slight revenue decline, Citic Publishing has improved net profit and gross margin due to cost reduction and efficiency enhancement measures [3] - The implementation of a full-platform pricing strategy since the price war began in 2022 has positively impacted gross margin and profit [3] - The company remains committed to its full-platform framework strategy despite the impact of new media and multiple channels on traditional book sales [3] - There is growth potential in the mass publishing retail sector, educational auxiliary materials, and children's extracurricular reading market [4] - The company plans to continue cost reduction and efficiency enhancement strategies in 2025, focusing on digital management and optimizing the cost structure through a copyright industry data platform [3][5] - Citic Publishing is actively embracing AI technology, having established a digital publishing platform and integrated AI into proofreading and marketing processes [3][6] - The company is expanding its offline store layout to enhance brand exposure and serve high-net-worth clients, with plans to develop urban cultural operation spaces [8][9] - The launch of the new retail brand "Juice" aligns with the company's holographic animation strategy, focusing on acquiring exclusive high-quality IPs [10] - The recent draft of the national reading promotion regulations is seen as a significant benefit for the book industry, and Citic Publishing plans to leverage its extensive book categories to seek new opportunities [12] - The company is cautious about mergers and acquisitions, focusing on quality assets that align with its strategic direction [13] - The operating cash flow has declined due to corporate income tax payments, but a five-year tax exemption policy for cultural enterprises is expected to positively impact the company's financial situation [14] Additional Important Content - The company has reduced costs in 2024 through measures such as reusing paper and packaging, and increasing the proportion of its live streaming team to decrease reliance on external KOLs [5] - The digital service revenue has shown strong performance, with AI platforms significantly improving efficiency, such as a 50% increase in marketing material and video production efficiency [6] - Citic Publishing has a rich reserve of IP resources and is committed to discovering high-quality content products [11] - The company maintains a clear understanding of its identity as a "small but beautiful" company, focusing on innovation and market vitality [15]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company achieved a revenue of 1.687 billion in 2024, a slight decline of 1.72% year-on-year, primarily due to the overall industry downturn and price control on book products. However, the net profit attributable to shareholders increased by 1.99% year-on-year to 119 million, with a significant rise in non-recurring net profit by 155.31% year-on-year to 158 million, attributed to the extension of publishing tax incentives [1][4] - The company remains the leader in the national book retail market, with strong performance in various categories, and has successfully launched new titles and expanded its anime production line, achieving over 25% growth [2][3] - The implementation of a digital intelligence system has improved operational efficiency, with gross and net profit margins increasing by 4.09 and 0.25 percentage points year-on-year to 38.96% and 7.03%, respectively [3] Financial Performance - In 2024, the company reported a revenue of 1.687 billion, with a year-on-year growth rate of -1.7%. The net profit attributable to shareholders was 119 million, with a year-on-year growth rate of 2.0% [5] - The company forecasts net profits of 173 million, 191 million, and 216 million for 2025, 2026, and 2027, representing year-on-year growth rates of 46.0%, 10.1%, and 13.2%, respectively [4][5] - The latest diluted EPS is projected to be 0.91, 1.00, and 1.14 for the years 2025, 2026, and 2027 [5] Market Position and Strategy - The company has established itself as a leading player in the publishing industry, focusing on expanding its anime IP collaborations and enhancing its digital reading and corporate training platforms [2][4] - The company has successfully launched new retail brands and improved sales performance in both physical and online channels, with a 30% year-on-year increase in e-commerce GMV [3][4]

Investment Rating - The report maintains a "Recommended" rating for the company [2]. Core Insights - The company is advancing its digital intelligence strategy, significantly enhancing efficiency in content production and marketing through its proprietary "Kuafu AI" platform, achieving over 50% efficiency improvement [5]. - The company is deepening its IP operation strategy, creating a new cultural consumption ecosystem by linking top-tier IPs with physical publications and derivative products, thus expanding its market reach [5]. - The core publishing business remains stable, while digital and IP derivative businesses are expected to contribute to performance growth, supported by the application of AI technologies [5]. Financial Forecasts - Projected revenue for 2024 is 1,687.48 million yuan, with a slight decline of 1.72% year-on-year, followed by a recovery with expected growth rates of 3.72%, 5.18%, and 6.63% for 2025, 2026, and 2027 respectively [2]. - The net profit attributable to shareholders is forecasted to be 118.67 million yuan in 2024, with significant growth anticipated in subsequent years, reaching 165.08 million yuan in 2025 and 212.04 million yuan in 2027 [2]. - The gross profit margin is expected to improve from 38.96% in 2024 to 41.13% by 2027, indicating enhanced operational efficiency [2].

Investment Rating - The report maintains a "Buy" rating for the company [6]. Core Views - The company achieved a revenue of 1.687 billion in 2024, a slight decline of 1.72% year-on-year, primarily due to the overall industry downturn and price control on book products. However, the net profit attributable to shareholders increased by 1.99% year-on-year to 119 million, with a significant rise in non-recurring net profit by 155.31% year-on-year to 158 million, attributed to the extension of tax incentives [1][4]. - The company continues to lead the national book retail market, maintaining the top position in categories such as management, psychology, and biography, while ranking second in children's and natural science categories. The newly launched anime production line has seen over 25% growth, with successful collaborations on popular IPs [2][3]. - The company has implemented a digital intelligence strategy, enhancing its publishing process through AI applications, resulting in a gross margin increase of 4.09 percentage points to 38.96% and a net margin increase of 0.25 percentage points to 7.03% in 2024 [3][4]. Financial Summary - In 2024, the company reported a revenue of 1.687 billion, with a year-on-year growth rate of -1.7%. The net profit attributable to shareholders was 119 million, with a year-on-year growth rate of 2.0%. The earnings per share (EPS) for 2024 was 0.62 [5][10]. - The company is projected to achieve a net profit of 173 million in 2025, representing a year-on-year growth of 46.0%, with further growth expected in subsequent years [4][5]. - The financial ratios indicate a net asset return (ROE) of 5.4% in 2024, with a projected increase to 7.8% in 2025 [5][10].