Core Viewpoint - The roundtable discussion focuses on the theme of "Exploring the Future with Intelligence: Insights from Chairmen of Listed Companies on Industrial Upgrading and Rewarding Patient Capital" [2][4] Group 1: Industrial Upgrading - The roundtable aims to discuss the implementation of the "14th Five-Year Plan" and its emphasis on modernizing the industrial system, which includes nurturing emerging industries and optimizing traditional sectors [3][4] - Participants represent various industries, highlighting the importance of industrial upgrading as a core engine for high-quality economic development amidst global economic adjustments [4][10] - The discussion emphasizes the need for long-term value creation and social responsibility in the context of patient capital [4][10] Group 2: Company Introductions - Taoyuan Heavy Industry, represented by Chairman Tao Jiajin, focuses on heavy equipment manufacturing and has undergone significant production line upgrades [6][11] - Huaron Tai, led by Chairman Wang Limin, operates in the chemical and industrial engineering sectors and is set to be listed on the Hong Kong Stock Exchange [6][10] - Boya Precision, represented by Chairman Li Wenxi, reported a 60% revenue increase and an 80% profit increase in the first nine months of 2023 [7][10] - Caesar Travel, led by General Manager Ma Zhuofei, has a long history in the tourism industry and is adapting to post-pandemic market changes [8][22] - Tianli Composite, represented by Chairman Fan Kesha, specializes in composite materials and is actively engaging in new technology applications [9][16] - Rongxin Culture, led by Chairman Cai Hong, focuses on children's book publishing and has been a pioneer in the industry [9][26] Group 3: Responses to the "14th Five-Year Plan" - Taoyuan Heavy Industry's upgrades include transitioning to automated production lines and enhancing product quality through smart manufacturing [11][12] - Boya Precision emphasizes the importance of innovation and high-end product development to meet market demands [14][15] - Tianli Composite is exploring new fields and collaborating with universities to enhance its technological capabilities [16][17] - Huaron Tai is focusing on three main sectors: new energy, digitalization, and biomedicine, to drive future growth [19][20] Group 4: Patient Capital and Market Performance - Taoyuan Heavy Industry believes that consistent performance and growth are essential for rewarding patient capital [33] - Huaron Tai asserts that its companies are currently undervalued in the market and are working on improving communication and innovation [34] - Boya Precision highlights its commitment to R&D and shareholder returns as part of its long-term strategy [35] - Caesar Travel attributes its recent stock performance to the backing of state-owned capital and effective market strategies [38] - Tianli Composite emphasizes the importance of foundational strength and continuous dividends as a way to reward capital [39]

Core Insights - The publishing sector experienced a slight decline of 0.0% on November 13, with Rongxin Culture leading the drop [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Market Performance - The following stocks in the publishing sector showed notable performance: - ST Huawen (000793) closed at 3.03, up 3.41% with a trading volume of 463,600 shares and a turnover of 138 million yuan [1] - Tianzhou Culture (300148) closed at 4.83, up 1.26% with a trading volume of 325,100 shares and a turnover of 156 million yuan [1] - Zhongwen Online (300364) closed at 26.62, up 0.91% with a trading volume of 256,000 shares and a turnover of 677 million yuan [1] - Rongxin Culture (301231) closed at 32.64, down 3.52% with a trading volume of 76,400 shares and a turnover of 253 million yuan [2] Capital Flow - The publishing sector saw a net outflow of 104 million yuan from institutional investors, while retail investors contributed a net inflow of 64.42 million yuan [2] - The following stocks had significant capital flow: - ST Huawen (000793) had a net inflow of 24.8 million yuan from institutional investors [3] - Tianzhou Culture (300148) experienced a net inflow of 489,820 yuan from institutional investors [3] - Phoenix Media (601928) had a net inflow of 497,730 yuan from institutional investors [3]

证券代码：301231 证券简称：荣信文化 公告编号：2025-092 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。 特别提示： 1.本次股东会没有出现否决议案的情形。 2.本次股东会没有涉及变更前次股东会已通过的决议。 3.本次股东会采取现场投票和网络投票相结合的方式召开。 荣信教育文化产业发展股份有限公司 2025 年第三次临时股东会决议公告 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间： （1）现场会议召开时间：2025年11月12日下午14:50。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的 时间为：2025年11月12日上午9:15-9:25、9:30-11:30，下午13:00-15:00； 通过深圳证券交易所互联网投票系统投票的时间为：2025年11月12日上午 9:15至下午15:00期间的任意时间。 2.会议召开方式：本次股东会采取现场投票和网络投票相结合的方式 召开。 3.现场会议召开地点：陕西省西安市雁塔区软件新城天谷八路西安国 家数字出版基地南区三栋荣信文化董事会会议室 4.召集人：公司董事会 5.主 ...

北京市中伦律师事务所 2025 年第三次临时股东会的 法律意见书 二〇二五年十一月 北京市中伦律师事务所 关于荣信教育文化产业发展股份有限公司 2025 年第三次临时股东会的 法律意见书 关于荣信教育文化产业发展股份有限公司 致：荣信教育文化产业发展股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受荣信教育文化产业发展股份 有限公司（以下简称"公司"）委托，指派本所律师对公司 2025 年第三次临时股 东会（以下简称"本次股东会"）的合法性进行见证并出具法律意见。 本法律意见书根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、中国证券监督管理委员 会（以下简称"中国证监会"）《上市公司股东会规则》（以下简称"《股东会规 则》"）及《深圳证券交易所上市公司股东会网络投票实施细则》等现行有效的 法律、法规、规范性文件以及《荣信教育文化产业发展股份有限公司章程》（以 下简称"《公司章程》"）的规定而出具。 为出具本法律意见书，本所律师审查了公司本次股东会的有关文件和材料。 本所律师得到公司如下保证，即其已提供了本所律师认为出具本法律意见书所必 需的 ...

Core Points - Company Rongxin Culture announced the acquisition of equity in Wuhan Youxue Baobei by its wholly-owned subsidiary, Xi'an Rongchuang Rongying Education Culture Co., Ltd. [1] - The total investment for the acquisition amounts to 16.32 million yuan, with the company acquiring 51% of Youxue Baobei's equity [1] - The acquisition has been completed with the necessary business registration changes and the issuance of a business license by the local administrative approval bureau [1]

证券代码：301231 证券简称：荣信文化 公告编号：2025-091 荣信教育文化产业发展股份有限公司 关于全资子公司收购股权进展暨完成工商变更登记 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、交易概述 为丰富荣信教育文化产业发展股份有限公司（以下简称"公司"或"荣 信文化"）产品品类，进一步拓展业务领域，提升公司综合竞争力，公司 于 2025 年 9 月 24 日召开第四届董事会第九次会议，审议通过了《关于全 资子公司收购股权的议案》，同意全资子公司西安荣创荣盈教育文化有限 公司（以下简称"荣创荣盈"）以自有资金 1,632.00 万元购买卞吉康、 马丽分别持有的武汉优学宝贝图书有限公司（以下简称"优学宝贝"）42%、 9%的股权并分期进行投资款支付。本次交易完成后，荣创荣盈将持有优学 宝贝 51%的股权，优学宝贝将纳入公司合并报表范围内。具体内容详见公 司 2025 年 9 月 24 日于巨潮资讯网（www.cninfo.com.cn）上披露的《关 于全资子公司收购股权的公告》。 法定代表人：蔡红 类型：其他有限责任公司 成立日期：201 ...

Summary of Key Points Core Viewpoint - On November 4th, a total of 37 stocks were identified with institutional activity, with 19 showing net buying and 18 showing net selling by institutions [1] Institutional Buying - The top three stocks with the highest net buying by institutions were: - Haixia Innovation with a net buying amount of 224 million yuan - Shenzhou Information with a net buying amount of 66.02 million yuan - Dongfang Precision with a net buying amount of 58.72 million yuan [1] Institutional Selling - The top three stocks with the highest net selling by institutions were: - Rongxin Culture with a net outflow of 62.81 million yuan - Sanbian Technology with a net outflow of 61.08 million yuan - Changshan Pharmaceutical with a net outflow of 55.71 million yuan [1]

Summary of Key Points Core Viewpoint - On November 4th, a total of 37 stocks were involved with institutional investors, with 19 showing net buying and 18 showing net selling. Institutional Buying - The top three stocks with the highest net buying by institutions were: - Haixia Innovation: Net buying amount of 224 million yuan, with a daily increase of 19.98% [1][2] - Shenzhou Information: Net buying amount of 66 million yuan, with a daily increase of 5.04% [1][2] - Dongfang Precision: Net buying amount of 58 million yuan, with a daily increase of 2.20% [1][2] Institutional Selling - The top three stocks with the highest net selling by institutions were: - Rongxin Culture: Net selling amount of 63 million yuan, with a daily decrease of 1.39% [1][3] - Sanbian Technology: Net selling amount of 61 million yuan, with a daily increase of 7.30% [1][3] - Changshan Pharmaceutical: Net selling amount of 56 million yuan, with a daily decrease of 20.00% [1][3]

Market Performance - The ChiNext Index fell by 1.96%, closing at 3134.09 points, with a total trading volume of 481.31 billion yuan, a decrease of 59.06 billion yuan from the previous trading day [1] - Among the tradable ChiNext stocks, 381 stocks closed higher, with 9 stocks rising over 10%, including Zhaobiao Co., Zhongneng Electric, and Baose Co., which hit the daily limit [1] - A total of 977 stocks closed lower, with 5 stocks declining over 10%, including Changshan Pharmaceutical, which hit the daily limit down [1] Turnover Rate - The average turnover rate for the ChiNext today was 3.72%, with 30 stocks having a turnover rate exceeding 20% [1] - The highest turnover rate was for Haixia Innovation at 44.42%, closing at 12.97 yuan, with a trading volume of 3.49 billion yuan [3] - Other notable turnover rates included Rongxin Culture at 42.84% and Beifang Changlong at 37.57% [3] Sector Analysis - Among the high turnover stocks, the power equipment sector had the most representation, with 6 stocks listed, followed by the computer and electronics sectors with 4 and 3 stocks, respectively [2] - The stocks with the highest net inflow of funds included Wanlima, Zhongneng Electric, and Keda Guochuang, with net inflows of 408.29 million yuan, 171 million yuan, and 140 million yuan, respectively [3] Institutional Activity - 9 high turnover ChiNext stocks appeared on the Dragon and Tiger List, indicating institutional involvement [2] - Haixia Innovation had 4 institutional seats with a total net purchase of 22.4 million yuan, while Baose Co. had 2 institutional seats with a net purchase of 5.19 million yuan [2] Key Stocks - Key stocks with significant movements included: - Haixia Innovation: closed at 12.97 yuan, up 19.98%, with a turnover rate of 44.42% and a net inflow of 38.34 million yuan [3] - Zhongneng Electric: closed at 7.67 yuan, up 20.03%, with a turnover rate of 21.28% and a net inflow of 171.19 million yuan [4] - Baose Co.: closed at 26.22 yuan, up 20.00%, with a turnover rate of 22.61% and a net inflow of 48.66 million yuan [4]

Core Points - The stock of Rongxin Culture experienced a decline of 1.39% with a turnover rate of 42.84% and a trading volume of 905 million yuan, indicating significant market activity [2] - Institutional investors net sold 62.81 million yuan, while brokerage seats collectively net bought 2.12 million yuan [2] - The stock has been listed on the Dragon and Tiger list seven times in the past six months, with an average price increase of 3.05% the day after being listed and an average increase of 2.59% over the following five days [3] Trading Activity - The top five brokerage seats accounted for a total transaction volume of 359 million yuan, with buying transactions amounting to 149 million yuan and selling transactions totaling 210 million yuan, resulting in a net sell of 60.69 million yuan [2] - Among the brokerage seats listed, five institutional specialized seats were involved, with total buying amounting to 121 million yuan and total selling amounting to 184 million yuan, leading to a net sell of 62.81 million yuan [2] Fund Flow - The stock saw a net inflow of 68.94 million yuan from major funds today, with large orders contributing a net inflow of 52.93 million yuan and big orders contributing 16.01 million yuan [3] - Over the past five days, the net inflow of major funds reached 200 million yuan [3]