Core Viewpoint - The company plans to publish a book titled "Humanoid Robots" in July 2025, focusing on the role of AI-driven humanoid robots in transforming human life and contributing to economic development [1] Company Initiatives - The company is currently in the planning stages for multiple related books on the topic of humanoid robots [1] - The company will continue to monitor new technologies, concepts, and models that drive industry development and actively track business opportunities in related fields [1]

Core Insights - The publishing sector exhibits high dividend attributes and stability within the media industry, with leading companies showing gross margins between 30%-40%, net margins around 10%, and ROE generally above 8% [1] - The stock price changes in the publishing sector in 2023 are attributed to a market consensus on valuation reassessment, as content copyrights serve as important data sources for AI applications [1] - In 2024, the market favors high-dividend sectors, with leading companies in publishing having relatively high dividend yields compared to the media sector [1] Company Performance - In the first half of 2025, the revenue breakdown for CITIC Publishing is 80% from book publishing and distribution, 19% from urban cultural space operations, and 12% from digital services, with respective year-on-year growth rates of 4.54%, 4.42%, and -0.67% [1] - The gross margins for these segments are 41.7%, 34.92%, and 31.62%, with year-on-year changes of +3.93, -0.1, and -6.32 percentage points [1] - The company is experiencing a recovery in growth, driven by digital upgrades and IP ecosystem operations, with an overall gross margin increase of 2.07 percentage points [1] Market Position - The company maintains a leading position in the general publishing market, with a market share of 3.06% in the national book retail market, ranking first among individual publishers [2] - The company has expanded its advantages in management and social science books, while the literary and anime categories are emerging as new growth drivers [2] Technological Advancements - The company is aligning with AI trends by enhancing its operational models in urban culture and tourism, completing the tagging and database construction for 52,000 book titles [2] - The KuaFu AI digital publishing platform has been upgraded to include multi-modal capabilities, integrating text, images, and audio for comprehensive processing and intelligent generation [2] Investment Outlook - The company is expected to regain growth momentum after facing various challenges, with projected net profits of 174 million, 200 million, and 225 million yuan for 2025-2027, corresponding to PE ratios of 32, 28, and 25 times [2]

Core Viewpoint - The company emphasizes shareholder returns and has integrated market value management into its long-term strategic management system, aiming to synchronize company value and market value [1] Group 1: Shareholder Returns - The company plans to distribute a cash dividend of 3.18 yuan per 10 shares for the year 2024 [1] - Over the past three years, the total cash dividends amount to 186,348,484.70 yuan, which represents 51.60% of the cumulative net profit attributable to shareholders [1] - The company intends to promote mid-term dividends as part of its strategy [1] Group 2: Market Value Management - The company has initiated multi-dimensional assessments of market value as part of its strategic management [1] - The company is committed to enhancing the quality of its internal assets and cultural influence to create long-term sustainable value for shareholders [1]

Core Viewpoint - The company held its 31st temporary board meeting, where several resolutions regarding the revision of internal governance documents were passed, including the removal of the supervisory board and the establishment of a value management system [2][3][47]. Group 1: Board Meeting Details - The board meeting was convened on September 26, 2025, with all 9 directors present, and the meeting complied with relevant laws and regulations [2]. - The meeting resulted in unanimous approval of all resolutions, with 9 votes in favor and no opposition or abstentions [4][7][10][13][16][19][22][25][28][31][34][35][36][37][38][39][40][41][42][43][44][48][49]. Group 2: Resolutions Passed - The company approved the revision of the Articles of Association, eliminating the supervisory board and transferring its powers to the audit committee of the board [3]. - The company also approved revisions to the rules governing shareholder meetings, board meetings, independent director work systems, fundraising management, related party transactions, external guarantees, information disclosure, external investment, cumulative voting, and various internal governance documents [6][9][12][15][18][21][24][27][30][33]. - A new value management system was established to enhance the company's market value management and protect the rights of investors, particularly minority shareholders [47]. - The company approved the establishment of a management system for the departure of directors and senior management to ensure governance stability and protect shareholder rights [49].

Core Viewpoint - The recent revision of the articles of association by China Citic Publishing Group aims to enhance corporate governance and operational efficiency through adjustments in various clauses [1][2]. Group 1: Organizational Structure - The legal representative of the company will be elected by the board of directors, and the legal responsibilities and company recourse mechanisms for the legal representative have been clarified [1]. - The expression "within the city" in the business scope has been changed to "Beijing," and regulations regarding share issuance, capital increase, and share repurchase have been optimized [1]. Group 2: Responsibilities of Shareholders and Management - The term "other senior management personnel" has been simplified to "senior management personnel," with a clear definition of the scope [1]. - New regulations have been added regarding shareholders' rights and obligations, including compliance with laws for accessing company materials and handling disputes [1]. - The decision-making process for share repurchase has been detailed, and the responsibilities of controlling shareholders and actual controllers have been refined [1][2]. Group 3: Governance and Operational Procedures - Adjustments have been made to the powers of the shareholders' meeting, including conditions for convening, notification content, proposal requirements, and voting procedures [2]. - Revisions have been made to the board of directors regarding employee directors, establishment and responsibilities of special committees, and independent director systems [2]. - The hiring, responsibilities, and compensation liabilities of senior management have been further clarified, along with optimizations in financial accounting, profit distribution, and internal auditing procedures [2].

Group 1 - The core point of the article is that CITIC Publishing (SZ 300788) held a temporary board meeting on September 26, 2025, to review the proposal for revising the "Audit Committee Work Rules" [1] - For the first half of 2025, CITIC Publishing's revenue composition was as follows: 79.32% from book publishing and distribution, 18.68% from urban cultural space operations, 12.08% from digital services, and -10.07% from other businesses [1] - As of the report date, CITIC Publishing's market capitalization was 5.6 billion yuan [1] Group 2 - There is a growing trend in the insurance industry, with new insurance products experiencing a 33-fold growth over five years, attracting over 30 insurance companies to enter the market [1]

证券代码：300788 证券简称：中信出版 公告编号：2025-031 中信出版集团股份有限公司 第五届董事会第三十一次（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"或"本公司"）第五届董事 会第三十一次（临时）会议于2025年9月26日以现场结合通讯表决方式召开。会 议通知于2025年9月18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。 二、董事会会议审议情况 经审议，本次会议通过了如下决议： 1.审议通过《关于修订<公司章程>的议案》 同意根据《中华人民共和国公司法》（以下简称"公司法"）《上市公司章程 指引》及其他有关法律、法规、规范性文件的最新规定，并结合公司实际情况， 对《公司章程》中的相关内容予以修订，不再设置监事会，监事会职权由董事会 审计委员会行使。 具体修订内容详见公司同日披露于中国证监会指定信息披露网站巨潮资讯 网（http://www.cn ...

中信出版集团股份有限公司 公司章程修订对照表 | 序号 | 修订前 | 修订后 | | --- | --- | --- | | | 第一条 为维护公司、股东和债权人 | 第一条 为维护公司、股东、职工和 | | | 的合法权益，规范公司的组织和行 | 债权人的合法权益，规范公司的组织 | | | 为，根据《中华人民共和国公司法》 | 和行为，根据《中华人民共和国公司 | | | （以下简称《公司法》）、《中华人 | 法》（以下简称《公司法》）、《中 | | | 民共和国证券法》（以下简称《证券 | 华人民共和国证券法》（以下简称 | | 1 | 法》）《上市公司章程指引》《深圳 | 《证券法》）、《上市公司章程指 | | | 证券交易所创业板股票上市规则》 | 引》《深圳证券交易所创业板股票上 | | | （以下简称《上市规则》）等法律法 | 市规则》（以下简称《上市规则》） | | | 规和其他有关规定，制订本章程。 | 等法律法规和其他有关规定，制定本 | | | | 章程。 | | | 第八条 董事 长为公司的法定代表 | 第八条 代表公司执行公司事务的董 | | | 人。 | 事为公司的法定代表人，法 ...

中信出版集团股份有限公司 董事会秘书工作细则 二〇二五年九月 中信出版集团股份有限公司 董事会秘书工作细则 第一章 总 则 第一条 为进一步完善中信出版集团股份有限公司（以下简称"公司"）董事 会秘书工作制度，加强对董事会秘书工作的管理与监督，依据《中华人民共和国 公司法》（以下简称"《公司法》"）、《深圳证券交易所创业板股票上市规则》（以 下简称"《上市规则》"）、《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》（以下简称"《监管指引》"）及其他有关法律、法规规 定和《中信出版集团股份有限公司章程》（以下简称"《公司章程》"）、《中信出 版集团股份有限公司董事会议事规则》而制定本工作细则。 第二条 公司设董事会秘书一名。董事会秘书为公司的高级管理人员，对董 事会负责。 董事会秘书应当遵守《公司章程》，承担高级管理人员的有关法律责任，对 公司负有诚信和勤勉义务，不得利用职权为自己或他人谋取利益。 第二章 董事会秘书的任职资格 第三条 公司董事会秘书的任职资格： （一）董事会秘书应当是具有从事秘书、管理、股权事务等工作经验的自然 人； （二）董事会秘书应当严格遵守法律、法规、规章，能 ...

二〇二五年九月 中信出版集团股份有限公司 投资者关系管理制度 中信出版集团股份有限公司 投资者关系管理制度 第一章 总 则 第一条 为了进一步加强中信出版集团股份有限公司（以下简称"公司"）与 投资者和潜在投资者（以下统称"投资者"）之间的沟通，促进投资者对公司的了 解，进一步完善公司法人治理结构，实现公司价值和股东利益最大化，根据《中 华人民共和国公司法》《中华人民共和国证券法》《上市公司投资者关系管理工 作指引》《深圳证券交易所创业板股票上市规则》（以下简称"《上市规则》"）、 《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》 （以下简称"《规范运作指引》"）等有关法律、法规、规范性文件以及《中信出 版集团股份有限公司章程》（以下简称"《公司章程》"）的有关规定，结合公司 实际情况，特制定本制度。 第二条 投资者关系管理是指公司通过便利股东权利行使、信息披露、互动 交流和诉求处理等工作，加强与投资者及潜在投资者之间的沟通，增进投资者对 公司的了解和认同，以提升公司治理水平和企业整体价值，实现尊重投资者、回 报投资者、保护投资者目的的相关活动。 第二章 投资者关系管理的原则和目的 ...