3连板吉视传媒提示风险：不涉及“国资云”相关业务

Core Viewpoint - Jishi Media (601929) has experienced significant stock price fluctuations, with a recent increase of 33.18% over three trading days, raising concerns about potential risks associated with rapid price changes [1] Group 1: Stock Performance - On August 11, Jishi Media's stock closed at 2.97 yuan, up 10% from the previous day [1] - The stock's turnover rate on August 11 was 12.40%, with a cumulative increase of 53.89% since August 1, 2025 [1] Group 2: Business Operations - Jishi Media confirmed that its production and operations are normal, and it does not engage in "state-owned cloud" related businesses or current film investments [1] - The company completed an asset swap with its controlling shareholder, Jilin Broadcasting and Television Station, involving assets valued at approximately 700 million yuan each [2] Group 3: Financial Performance - For the fiscal year 2024, Jishi Media reported revenues of 1.982 billion yuan, a year-on-year increase of 7.99%, but a net loss of 465 million yuan [3] - In Q1 2025, the company achieved revenues of 499 million yuan, a 23.14% increase year-on-year, but still reported a net loss of 103 million yuan [3] - The company anticipates a net loss of between 187 million and 233 million yuan for the first half of 2025 [3] Group 4: Revenue Breakdown - The company expects a decline in public customer business revenue due to intensified competition and changing user habits, while group customer business revenue is projected to grow significantly [4] - IPTV business revenue is expected to see slight growth due to synergies from the asset injection, while other business revenues are anticipated to decrease [4] Group 5: Cost Structure - Overall operating costs are expected to rise, driven by increased costs in group customer business and other subsidiaries, contributing to the anticipated losses [4] - The company also expects a reduction in recognized related equity, impacting overall performance [4]