Group 1 - The core point of the announcement is that Haikan Co., Ltd. has declared a cash dividend of RMB 0.50 per 10 shares for the first half of 2025, which is inclusive of tax [2] - The record date for the dividend distribution is set for September 19, 2025, and the ex-dividend date is September 22, 2025 [2]

证券代码：301262 证券简称：海看股份 公告编号：2025-029 海看网络科技（山东）股份有限公司 2025 年半年度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 二、本次实施的权益分派方案 本公司2025年半年度权益分派方案为：以公司总股本417,000,000股为基数， 向全体股东每 10 股派发现金红利人民币 0.500000 元（含税；扣税后，通过深股 通持有股份的香港市场投资者、境外机构（含 QFII、RQFII）以及持有首发前限 售股的个人和证券投资基金每 10 股派发 0.450000 元；持有首发后限售股、股权 激励限售股及无限售流通股的个人股息红利税实行差别化税率征收，本公司暂不 扣缴个人所得税，待个人转让股票时，根据其持股期限计算应纳税额【注】；持 有首发后限售股、股权激励限售股及无限售流通股的证券投资基金所涉红利税， 对香港投资者持有基金份额部分按 10%征收，对内地投资者持有基金份额部分实 行差别化税率征收）。 海看网络科技（山东）股份有限公司（以下简称"公司"）2025年半年度权 益分派方案已获得公司于20 ...

Market Overview - The television broadcasting sector increased by 1.61% compared to the previous trading day, with Jishi Media leading the gains [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] Individual Stock Performance - Jishi Media (601929) closed at 6.11, up 5.89%, with a trading volume of 6.35 million shares and a turnover of 3.8 billion yuan [1] - Gehua Cable (600037) closed at 8.51, up 2.78%, with a trading volume of 266,600 shares and a turnover of 226 million yuan [1] - Tianwei Video (002238) closed at 8.58, up 1.18%, with a trading volume of 60,700 shares and a turnover of 51.89 million yuan [1] - Hubei Broadcasting (000665) closed at 6.13, up 0.82%, with a trading volume of 255,400 shares and a turnover of 156 million yuan [1] - Other notable stocks include Dongfang Mingzhu (600637) and Jiangsu Cable (600959), which saw minor increases of 0.35% and 0.26% respectively [1] Capital Flow Analysis - The television broadcasting sector experienced a net outflow of 24.26 million yuan from institutional investors, while retail investors saw a net inflow of 21.2 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Detailed Capital Flow for Selected Stocks - Hubei Broadcasting (000665) had a net inflow of 25.62 million yuan from institutional investors, while retail investors had a net outflow of 11.75 million yuan [3] - Jishi Media (601929) saw a net inflow of 21.80 million yuan from retail investors, despite a significant outflow of 169 million yuan from institutional investors [3] - Guangxi Broadcasting (600936) had a net inflow of 8.35 million yuan from institutional investors, while retail investors experienced a net outflow of 8.37 million yuan [3]

Market Overview - The television broadcasting sector increased by 0.35% compared to the previous trading day, with Oriental Pearl leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up by 1.65%, while the Shenzhen Component Index closed at 12979.89, up by 3.36% [1] Individual Stock Performance - Oriental Pearl (600637) closed at 69.8, rising by 1.88% with a trading volume of 837,900 shares and a transaction value of 717 million yuan [1] - Other notable stocks include: - Haoliang Co. (301262) at 25.63, up by 1.10% [1] - Guiguang Network (600996) at 8.28, up by 0.61% [1] - Tianwei Video (002238) at 8.48, up by 0.59% [1] - Wireless Media (301551) at 49.00, up by 0.51% [1] Capital Flow Analysis - The television broadcasting sector experienced a net outflow of 164 million yuan from institutional investors and 122 million yuan from speculative funds, while retail investors saw a net inflow of 286 million yuan [2] - The capital flow for individual stocks shows: - Oriental Pearl had a net inflow of 43.39 million yuan from institutional investors, but a net outflow of 25.59 million yuan from speculative funds [3] - New Media Co. (300770) had a net inflow of 1.88 million yuan from institutional investors, with a significant outflow from speculative funds [3] - ST Guangwang (600831) faced a net outflow of 6.43 million yuan from institutional investors [3]

Market Overview - The television broadcasting sector experienced a decline of 2.66% on the trading day, with the leading stock, Gehua Cable, falling significantly [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Stock Performance - Key stocks in the television broadcasting sector showed varied performance, with ST Guangwang rising by 1.24% to a closing price of 4.89, while Gehua Cable dropped by 5.92% to 9.06 [2] - The trading volume and turnover for major stocks included: - ST Guangwang: 102,700 shares, turnover of 49.72 million yuan - Gehua Cable: 545,000 shares, turnover of 506 million yuan [2] Capital Flow Analysis - The television broadcasting sector saw a net outflow of 1.168 billion yuan from main funds, while retail investors contributed a net inflow of 821 million yuan [2] - The capital flow for specific stocks indicated that: - Huashu Media had a main fund net inflow of 7.18 million yuan, but retail investors had a net outflow of 4.24 million yuan [3] - Gehua Cable experienced a significant main fund net outflow of 32.21 million yuan [3]

Group 1 - Huami New Materials surged over 13% [1] - Weike Technology increased by more than 10% [1] - Ningbo Huaxiang and Chaojie Co. both rose over 8% [1] - Shuangyi Technology, Mingyang Technology, and Yokogawa Precision also experienced gains [1]

Group 1 - The television broadcasting sector experienced a decline of 0.72% compared to the previous trading day, with Hubei Broadcasting leading the drop [1] - On the same day, the Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] - The table of individual stocks in the television broadcasting sector shows varied performance, with Jishi Media leading with a closing price of 4.55, up 9.90% [1] Group 2 - The net inflow of main funds in the television broadcasting sector was 342 million yuan, while retail funds saw a net outflow of 157 million yuan [1] - The stock performance of various companies in the sector indicates mixed investor sentiment, with some stocks like Jishi Media showing significant gains while others like Jiangsu Cable and Huashu Media experienced declines [1]

Summary of the Conference Call Company and Industry Overview - The company operates in the konjac product industry, focusing on konjac food and related products, with a significant emphasis on tea drink additives, instant snacks, and ingredients [2][11]. Key Financial Performance - In the first half of 2025, the company achieved a revenue of 359 million yuan, representing a year-on-year growth of 37.17% [4]. - The net profit attributable to shareholders was 40.92 million yuan, up 23.01% year-on-year, while the net profit after deducting non-recurring items was 34.93 million yuan, reflecting an 18.71% increase [4]. - The operating cash flow reached 126 million yuan, marking a 36.93% growth [4]. Revenue Growth Drivers - Revenue growth of over 35% in the first half of 2025 was primarily driven by both volume and price increases, with price hikes contributing significantly [2][11]. - The konjac food segment saw a remarkable growth of 58%, with tea drink additives accounting for approximately 55% of sales [13]. Raw Material Price Trends - Konjac raw material prices surged by about 80% since June 2024 due to rapid growth in downstream demand, particularly from snack brands like Weidong and tea chains like Mixue Ice City [6][7]. - This price increase is expected to remain high until around October 2025, when new konjac crops are harvested [7]. Supply Chain Management - The company collaborates with rural cooperatives and primary processing plants to secure stable raw material supplies, avoiding direct dealings with individual farmers [9][10]. - The company has a stock of over 300 million yuan in raw materials, semi-finished products, and packaging, ensuring a steady supply chain [12]. Export and International Market - Exports to the U.S. have been hindered due to international circumstances and tariffs, but growth has been maintained in Southeast Asia, Europe, and South America [14]. - The company has established a dedicated department to explore foreign ingredient markets, with foreign trade gross margins slightly higher than domestic ones [14]. Product Development and Market Strategy - The company aims to increase its global market share in konjac powder and konjac gum from approximately 12% to 40%-50% in the future [3][29]. - The konjac beauty business has been discontinued due to consistent losses, with resources redirected towards konjac food products [5][21]. Challenges and Future Outlook - The konjac food business faces pressure with a gross margin of less than 20%, necessitating scale expansion to improve profitability [22]. - The company is optimistic about the future of konjac products, particularly konjac balls, which have seen increased demand due to the rise of delivery services [15][19]. Seasonal Factors and Market Predictions - The company experiences seasonal revenue fluctuations, primarily concentrated in the third and fourth quarters [31]. - Despite a strong performance in the first half of 2025, there is uncertainty regarding the full-year revenue growth due to intense competition and the consumer market's recovery [31]. Conclusion - The company is strategically positioned in the konjac industry, focusing on product innovation and market expansion while navigating challenges related to raw material costs and international trade dynamics [25][30].

Group 1 - The company is actively investing in the micro-short drama sector by establishing a complete industry chain through investment, production, and distribution [1] - The company is collaborating with the Hongguo framework partner to jointly develop platform short drama projects, providing project contracting and base shooting services [1]

Core Insights - The company reported a total revenue of 466 million yuan for the first half of 2025, a year-on-year decrease of 4.57%, while the net profit attributable to shareholders increased by 4.45% to 232 million yuan [1] - The second quarter revenue was 230 million yuan, down 5.86% year-on-year, but the net profit for the same period rose by 1.55% to 115 million yuan [1] - The company's accounts receivable are significant, with accounts receivable accounting for 149.57% of the latest annual net profit [1] Financial Performance - The gross margin was 55.49%, a decrease of 0.82% year-on-year, while the net profit margin increased by 9.45% to 49.75% [1] - Total selling, administrative, and financial expenses amounted to 27.17 million yuan, representing 5.83% of revenue, which is a year-on-year increase of 40.21% [1] - Earnings per share (EPS) was 0.56 yuan, an increase of 5.66% year-on-year, and the operating cash flow per share was 1.11 yuan, up 77.25% year-on-year [1] Investment Metrics - The company's return on invested capital (ROIC) for the previous year was 10.63%, indicating average capital returns, while the historical median ROIC since listing is 23.23% [2] - The net profit margin for the previous year was 40.9%, suggesting high added value in products or services [2] - The company's cash assets are reported to be very healthy, but attention is advised regarding the accounts receivable situation [2]