证券代码：301025 证券简称：读客文化 公告编号：2025-044 读客文化股份有限公司 鉴于上述事项存在重大不确定性，为保证公平信息披露，避免造 成公司股价异常波动，维护广大投资者利益，根据《深圳证券交易所 上市公司自律监管指引第 6 号——停复牌》相关规定，经公司向深圳 证券交易所申请，公司股票（股票简称：读客文化，股票代码：301025） 自 2025 年 12 月 24 日（星期三）开市起继续停牌，预计停牌时间不 超过 3 个交易日。 停牌期间，公司将根据上述事项的进展情况，严格按照有关法律 法规的规定和要求履行信息披露义务。待相关事项确定后，公司将及 时发布相关公告并申请复牌。 特此公告。 读客文化股份有限公司 董事会 关于筹划控制权变更事项进展暨继续停牌的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 一、停牌情况概述 读客文化股份有限公司（以下简称"公司"）收到控股股东及实 际控制人华楠先生、华杉先生通知，其正在筹划公司控制权变更相关 事宜，具体方案以各方签署的相关协议为准。经公司向深圳证券交易 所申 ...

Group 1 - The core point of the news is that Duku Culture (301025.SZ) announced a planned change of control and stock suspension due to the notification from its controlling shareholders, Huanan and Huashan, regarding the ongoing planning of control change matters, which are still uncertain and have not yet been formalized [1] - The company will suspend its stock trading starting from December 22, 2025, for a period not exceeding two trading days to ensure fair information disclosure and avoid abnormal stock price fluctuations [1] - Duku Culture was founded in 2006 by Huanan and Huashan, focusing on book planning and publishing, and was listed on the Shenzhen Stock Exchange in 2021. The two brothers currently hold approximately 71.91% of the company's shares [4] Group 2 - Huanan holds 41.02% of the shares, while Huashan holds 29.58%. Additionally, Ningbo Duku Enterprise Management Partnership (Limited Partnership), acting in concert with Huanan and Huashan, holds 1.31% of the shares [4] - Ningbo Duku has been reducing its holdings prior to the control change, having sold approximately 11.19 million shares for about 103 million yuan this year, with total cashing out reaching 137 million yuan [5] - Duku Culture's performance has been declining since its IPO, with revenue dropping from 519 million yuan in its first year to 406 million yuan in 2024, a year-on-year decrease of 6.61%. The net profit attributable to the parent company also fell from a peak of 67.36 million yuan in 2021 to a loss of 3.28 million yuan in 2023 [6]

Core Viewpoint - The article discusses the recent developments surrounding Dook Cultural (SZ301025), including a potential change in control by its major shareholders, Huanan and Huashan, amid a backdrop of declining financial performance and stock price fluctuations. Group 1: Company Control Change - On December 22, Dook Cultural announced that its controlling shareholders, Huanan and Huashan, are planning a change in company control, with specific details yet to be finalized [1][3] - The stock was suspended from trading on December 22, with an expected suspension period of no more than two trading days [3] - Prior to the suspension, the stock price had increased by over 5% on the previous trading day [1] Group 2: Shareholder Actions - Since the beginning of the year, the consistent action party of Huanan and Huashan has been reducing their holdings, cashing out over 100 million yuan [5] - On December 19, the stock experienced a significant volume increase, coinciding with a transfer of shares by a related party, Ningbo Dook Enterprise Management Partnership, which reduced their holding percentage from 71.91% to 70.88% [4][6] Group 3: Financial Performance - Dook Cultural reported a net profit of 6.52 million yuan for the first three quarters, reflecting a year-on-year decline of 56.72% [6] - The gross margin for the main revenue source, physical books, was less than 30% in the first half of the year [6] - The company was previously noted for its marketing strategies linked to "Hua Yu Hua," but its financial performance has significantly deteriorated [6] Group 4: Stock Price History - Dook Cultural's stock price was 10.2 yuan, down from a peak of 31.66 yuan at its IPO, which represented a 1942.58% increase from the issue price [7] - The company was initially the lowest-priced new stock since the launch of the ChiNext in 2009, attracting significant market attention at the time of its listing [7]

Core Viewpoint - The company, DuKe Culture, is undergoing a potential change in control as notified by its major shareholders, which may be linked to its declining financial performance [1] Financial Performance - The company's revenue has been on a downward trend since its IPO in 2021, with revenues of 5.19 billion yuan in 2021, dropping to 5.13 billion yuan in 2022, 4.34 billion yuan in 2023, and projected at 4.06 billion yuan in 2024, reflecting year-on-year declines of 1.04%, 15.49%, and 6.61% respectively [2] - Net profit has also deteriorated significantly, with a decrease of 7.34% in 2022 to 62.32 million yuan, turning to a loss of 3.28 million yuan in 2023, and only a projected profit of 14.71 million yuan in 2024 [2] - In the first three quarters of the current year, the company reported revenue of 2.57 billion yuan, a year-on-year decline of 12.19%, and a net profit of only 6.52 million yuan, down 56.72% [2] - The company is facing cash flow issues, with a net cash flow from operating activities of -7.94 million yuan [2] Marketing and Expenses - To boost performance, the company has increased its marketing expenditures on platforms like Douyin, Xiaohongshu, and video accounts, resulting in a 24.10% rise in sales expenses to 37.73 million yuan, but these efforts have not yet translated into revenue growth [2] Shareholder Actions - Prior to the control change planning, the controlling shareholders have been reducing their stakes, with Ningbo DuKe announcing plans to reduce up to 11.2 million shares, representing no more than 2.80% of the total share capital [3] - By May, they had completed a reduction of 11.19 million shares, raising 1.03 billion yuan, and in November, they further reduced 4.11 million shares for 34.39 million yuan [3] - Cumulatively, related parties have cashed out over 200 million yuan, exceeding the total profits since the company's listing [3]

Group 1 - Xusheng Group's actual controller has changed to the Guangzhou Municipal Government, with stock resuming trading on December 23, 2025 [1] - Lingyun Light plans to invest up to $5 million in the IPO of Zhipu Hong Kong as a cornerstone investor [1] - Ningbo Huaxiang's subsidiary has signed a strategic cooperation agreement with Dahuan Robotics to enhance collaboration in the development of dexterous hands [2] Group 2 - Hualian Holdings intends to acquire 100% of the Canadian company Argentum Lithium S.A. for $175 million, which is approximately 1.235 billion yuan [3] - Shiyuan Zhaoye plans to raise no more than 550 million yuan through a convertible bond issuance for the Zhuhai Shiyuan Jingguan Garden project [4] - ST Quanwei and its subsidiary are involved in a civil mediation agreement involving 69.0158 million yuan [4] Group 3 - Jiao Jian Co.'s actual controller has been subjected to criminal coercive measures, but the company's control has not changed [5] - Tianji Technology is facing a lawsuit for alleged collusion in bidding, but its operations remain normal [5] - Jinpan Technology plans to issue 1.672 billion yuan in convertible bonds for data center power modules and other projects [5] Group 4 - Hongqi Chain's shareholder Yonghui Supermarket plans to reduce its stake by up to 3% [6] - Shuangqiang Technology's director did not implement a planned share reduction [7] - Zhuoran Co.'s subsidiary has signed a significant order worth 4.033 billion yuan [8] Group 5 - ST Zhitong's stock will have its risk warning lifted on December 24, 2025, with a change in trading limits [9] - Yingwei Co. plans to reduce its stake by up to 0.56% [10] - Huaxia Happiness's board rejected five temporary proposals from China Ping An Life Insurance [11] Group 6 - China Nonferrous Metals plans to acquire 99.9% of Raura Company for $106 million [11] - Sanhua Intelligent Control expects a net profit of 3.874 billion to 4.649 billion yuan for 2025, a year-on-year increase of 25% to 50% [11] - Chaoxun Communication received a government subsidy of 18.0455 million yuan [12] Group 7 - Jiangfeng Electronics plans to transfer 4% of Shanghai Runping's equity for 60 million yuan [12] - Dingyang Technology has launched a 20 GHz high-bandwidth digital oscilloscope [13] - Linyi Intelligent plans to acquire 35% of Dongguan Liminda Electronics for 875 million yuan [14] Group 8 - Trina Solar has sold its U.S. 5GW module factory to T1, receiving $100 million in cash and shares [14] - Aihua Packaging's major shareholder reduced its stake by 700,000 shares during the stock's abnormal fluctuation period [14] - China Merchants Bank has approved a comprehensive credit limit of 165 billion yuan for China Merchants Group [15] Group 9 - Lingwei Technology plans to acquire 70% of Jiangsu Huimai for 50.2 million yuan [16] - Yongding Co. is increasing its capital by 600 million yuan for its polysilicon subsidiary [19] - Zhong'an Technology's subsidiary is voluntarily extending its share lock-up period by six months [19] Group 10 - Xiangyu Medical's brain-computer interface products have entered over 500 top-tier hospitals, with a target of 700 by the Spring Festival [18] - Wenda Technology's major shareholder has terminated its share reduction plan [18] - Wenta Technology's major shareholder reduced its stake by 1.2097 million shares [18]

Core Viewpoint - The company, DuKe Culture, is undergoing a potential change in control as its major shareholders, Hua Nan and Hua Shan, are planning related matters, leading to a temporary suspension of its stock trading for up to two trading days [1]. Group 1: Control Change Announcement - The company announced on December 22 that it received notification from its controlling shareholders regarding the planning of a change in control [1]. - The stock was suspended from trading starting December 22 due to the uncertainty surrounding the control change [1]. - The shareholders currently control approximately 71.91% of the company's shares, with Hua Nan holding 41.02% and Hua Shan holding 29.58% [1]. Group 2: Financial Performance - For the first three quarters of the year, the company reported a revenue of 257 million yuan, a year-on-year decrease of 12.19% [2]. - The net profit attributable to shareholders was 6.52 million yuan, down 56.72% year-on-year, with a net profit of only 310,700 yuan after excluding non-recurring gains and losses, a decline of 95.09% [2]. - The company's cash balance decreased significantly by 69.58% since the beginning of the year, and the net cash flow from operating activities was -7.94 million yuan [2]. Group 3: Marketing and Expenses - Sales expenses increased by 24.10% to 37.73 million yuan, primarily due to increased spending on platforms like Douyin, Xiaohongshu, and video accounts [3]. - However, this increase in marketing expenditure has not yet translated into revenue growth [3]. Group 4: Market Position - As of December 19, the company's stock price was 10.20 yuan per share, with a total market capitalization of 4.083 billion yuan [4].

Group 1 - Huaxia Happiness's board rejected five temporary proposals from major shareholder Ping An Life, with a voting result of 1 in favor and 7 against [1] - The proposals were intended for discussion at the third temporary shareholders' meeting of Huaxia Happiness in 2025 [1] Group 2 - Bio Valley announced that its former actual controller and chairman Lin Yanhe was sentenced to three years in prison and fined 5 million yuan for breaching trust and harming the company's interests [2][5] - The court also sentenced former board secretary and financial director He Yuan to one and a half years in prison and fined 200,000 yuan [2] Group 3 - The People's Bank of China announced a one-time credit repair policy to support individuals with damaged credit who are actively repaying debts [7] - Individuals who repay overdue debts of up to 10,000 yuan by March 31, 2026, will have their overdue information not displayed in the financial credit information database [7] Group 4 - The Shanghai Municipal Science and Technology Commission announced a plan to support the research and development of new food technologies, including alternative proteins and 3D-printed foods, from 2026 to 2030 [14] - The initiative aims to meet diverse food consumption needs and promote sustainable development [14] Group 5 - Xiangyu Medical reported that its brain-computer interface products have entered over 500 top-tier hospitals, with plans to expand to 700 by the Spring Festival and 1,500 by next year [24] - The company anticipates rapid growth in sales revenue from these products in 2026 [24] Group 6 - Geely Automobile announced the completion of the privatization and merger of Zeekr Intelligent Technology, making it a wholly-owned subsidiary [23] - Zeekr has been delisted from the New York Stock Exchange following the merger [23] Group 7 - China Nuclear Engineering announced that its subsidiaries will introduce 5 billion yuan in investment through a non-public agreement to implement market-oriented debt-to-equity swaps [32] - The funds will be used to repay financial institution loans while maintaining actual control over the subsidiaries [32]

Core Viewpoint - The announcement of a suspension of trading by Reader Culture (301025.SZ) indicates that the controlling shareholders, Hua Nan and Hua Shan, are planning a change in company control, which has raised market speculation about their intentions amid ongoing controversies [1][3]. Group 1: Control Change and Shareholder Actions - The company announced a trading suspension on December 22, 2023, due to the ongoing planning of a control change by its major shareholders, Hua Nan and Hua Shan [1]. - Prior to the control change planning, the brothers had initiated significant share reductions, including a total of 11.19 million shares sold for 103 million yuan in May and 4.11 million shares sold for 34.39 million yuan in November [3][4]. Group 2: Financial Performance and Market Conditions - Reader Culture's financial performance has been under pressure, with a reported revenue of 257 million yuan for the first three quarters of 2025, a year-on-year decrease of 12.19%, and a net profit of 6.52 million yuan, down 56.72% [4]. - The company's cash balance has decreased by 69.58% since the beginning of the year, and it has experienced a net cash outflow of 7.94 million yuan, indicating ongoing financial strain [4]. - The third quarter alone saw a revenue of 88.63 million yuan, down 5.40% year-on-year, and a net profit of 395,400 yuan, a significant decline of 88.80% [4]. Group 3: Market Challenges and Strategic Shifts - Reader Culture, once known for its successful book marketing strategies, is facing challenges due to the decline of the physical book market and competition from short video platforms [5]. - In response, the company has increased its marketing expenditures on platforms like Douyin and Xiaohongshu, resulting in a 24.10% increase in sales expenses to 37.73 million yuan for the first three quarters, although this has not yet translated into improved financial results [5].

Macro Dynamics - The National Healthcare Security Administration has initiated centralized procurement for high-value medical consumables, including drug-coated balloons and urological intervention materials, with a focus on public medical institutions and participating social medical institutions [2] - The Ministry of Commerce announced temporary countervailing measures on imported dairy products from the EU, effective December 23, 2025, due to identified subsidies causing substantial harm to the domestic dairy industry [3] Market Data - Domestic gasoline and diesel prices will decrease by 170 yuan and 165 yuan per ton respectively, effective December 22, 2025, resulting in a reduction of approximately 0.13 yuan per liter for 92-octane gasoline [5] - Domestic gold jewelry prices have increased by 15 yuan per gram, with the current price for 24K gold jewelry at 1368 yuan per gram [6] - The European Union has extended economic sanctions against Russia for an additional six months, until July 31, 2026, affecting various sectors including trade and finance [7] Financial Institutions - The draft amendment to the Banking Supervision Law has been submitted for review, emphasizing enhanced regulatory measures and consumer protection, extending oversight to major shareholders and actual controllers of banking institutions [8] Company Dynamics - Aolian Electronics has announced a potential change in control, leading to a temporary suspension of its stock trading [15] - Yichang Technology is also planning a change in control, resulting in a stock suspension [16] - Huaxia Happiness's board rejected a proposal from Ping An Life to add temporary resolutions to the upcoming shareholder meeting [17] - Sanhua Intelligent Controls expects a net profit of 3.874 billion to 4.649 billion yuan for 2025, representing a year-on-year growth of 25% to 50% [19] - GlaxoSmithKline's new drug has been approved in China for the treatment of chronic obstructive pulmonary disease in adults [20] - Reader Culture is planning a change in control, leading to a temporary stock suspension [21]

Group 1 - Linyi Intelligent Manufacturing plans to acquire 35% equity of Limin Technology for 875 million yuan, gaining control with a total voting power of 52.78% [4] - Sanhua Intelligent Control expects a net profit growth of 25.00% to 50.00% in 2025, driven by its leading position in the HVAC components market and expansion in the automotive parts sector [14] - China General Nuclear Power has commenced full construction of the Lufeng Unit 2, with a capacity of 1245 MW, marking a significant step in its nuclear power development [11] Group 2 - Yipin Pharmaceutical's controlling shareholder plans to transfer 9.07% equity of Arthrosi to the company to support its development in gout treatment [2] - Changfei Fiber indicates that the demand for optical fiber and cable products remains under pressure despite some market improvements [2] - Aolian Electronics is planning a change in control, leading to a temporary suspension of its stock trading [3][19] Group 3 - ChaoSheng Electronics intends to invest 1.008 billion yuan in upgrading its high-performance HDI printed circuit board production capacity [6] - Nanya New Materials plans to raise up to 900 million yuan for the development of advanced high-frequency copper-clad laminates [10] - Hualian Holdings aims to acquire 100% of Argentum Lithium S.A. for approximately 1.75 billion USD to enter the lithium extraction business [12][13]