证券代码：601098 股票简称：中南传媒 编号：临 2025-041 中南出版传媒集团股份有限公司 关于中南博集天卷文化传媒有限公司 对北京博集天卷影业有限公司委托贷款进展 暨签订相关合同的公告 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。 中南出版传媒集团股份有限公司（以下简称"中南传媒"）于 2025 年 9 月 14 日召开第六届董事会第六次会议，2025 年 9 月 30 日 召开 2025 年第二次临时股东大会，审议通过了《关于中南博集天卷 文化传媒有限公司对北京博集天卷影业有限公司委托贷款的议案》， 同意公司控股子公司中南博集天卷文化传媒有限公司（以下简称"中 南博集"）通过中国民生银行长沙分行向参股子公司北京博集天卷影 业有限公司（以下简称"博集影业"）提供 2,500 万元委托贷款，贷 款期限为 2 年，贷款年利率 2.85%，由黄隽青、刘洪、王勇三位自 然人为本次委托贷款提供不动产抵押担保。以上内容详见《中南传媒 关于中南博集天卷文化传媒有限公司对北京博集天卷影业有限公司 委托贷款的公告》（编号：临 20 ...

Group 1 - The core viewpoint of the news is that Zhongnan Publishing Media Group has shown mixed financial performance, with a decrease in revenue but an increase in net profit year-on-year [2] - On September 30, Zhongnan Media's stock price increased by 0.33%, with a trading volume of 168 million yuan, and the net financing buy was negative at 2.85 million yuan [1] - As of September 30, the total margin balance for Zhongnan Media was 213 million yuan, with a financing balance of 211 million yuan, which is high compared to the past year [1] Group 2 - The company's main business includes publishing, distribution, and new media operations, with the largest revenue source being distribution at 59.40% [2] - For the first half of 2025, Zhongnan Media reported a revenue of 6.335 billion yuan, a year-on-year decrease of 8.09%, while the net profit attributable to the parent company was 1.017 billion yuan, a year-on-year increase of 31.46% [2] - The company has distributed a total of 11.548 billion yuan in dividends since its A-share listing, with 3.053 billion yuan distributed in the last three years [3]

Group 1: Industry Overview - The publishing sub-sector exhibits high dividend attributes and stability within the media sector, with leading companies showing gross margins between 30%-40%, net margins around 10%, and ROE generally above 8% [1] - The competitive landscape in the publishing sector is clear, with at least one publishing group in each province, focusing on both publishing and distribution, including textbooks and educational materials as key business areas [1] - The stock price changes in the publishing sub-sector in 2023 are attributed to a market consensus on valuation reassessment, as publishing companies' content copyrights serve as important sources for structured data in the context of AI developments [1] Group 2: Company Profile - Zhongnan Publishing - Zhongnan Publishing is one of the largest leading companies in the publishing sector, with strong core business capabilities across publishing, distribution, printing, media, digital education, and financial services [2] - As of the first half of 2025, Zhongnan Publishing holds a 6.07% market share in the national new book retail market, ranking first, and a 5.25% share in the comprehensive book retail market, ranking second, with a year-on-year increase of 0.05 percentage points [2] - The company ranks first in the education, composition, and arts sectors, second in academic culture, biography, and medicine, and third in music, literature, popular science, maps, and fine arts [2] Group 3: Business Segments - The book publishing segment is the most prominent, with solid construction in both general and specialty book publishing [3] - The distribution segment focuses on "reading," maintaining a leading position in the issuance of themed publications [3] - The digital education segment has seen significant user growth, with platforms like "Beike Net" reaching 8.52 million users and "A+ Education" app having 6.37 million users by mid-2025 [3] Group 4: Financial Projections - Zhongnan Publishing is expected to maintain its leading position, with projected net profits of 1.732 billion, 1.860 billion, and 1.927 billion yuan for 2025-2027, corresponding to PE ratios of 13, 12, and 11 times respectively [3]

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。 重要内容提示： 本次会议是否有否决议案：无 证券代码：601098 证券简称：中南传媒 公告编号：2025-040 中南出版传媒集团股份有限公司 2025年第二次临时股东大会决议公告 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 9 月 30 日 (二)股东大会召开的地点：湖南省长沙市开福区营盘东路 38 号公司办公楼十楼 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 二、 议案审议情况 (一)非累积投票议案 1、 议案名称：关于修订《公司章程》及相关制度的议案 审议结果：通过 表决情况： | 股东类 | | | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 型 | | 票数 | | 比例（%） | 票数 | 比例 | 票数 | 比例 | | | | | | | | （%） | | （%） | | A | 股 | 1, ...

关于中南出版传媒集团股份有限公司 湖南启元律师事务所 2025 年第二次临时股东大会的 法律意见书 2025 年 9 月 致：中南出版传媒集团股份有限公司 湖南启元律师事务所（以下简称"本所"）接受中南出版传媒集团股份有限公 司（以下简称"公司"）委托，指派律师出席公司 2025 年第二次临时股东大会（以 下简称"本次股东大会"）。根据《中华人民共和国公司法》（以下简称"《公司 法》"）《上市公司股东会规则》（以下简称"《股东会规则》"）等中国现行法 律、法规、规章和规范性文件以及《中南出版传媒集团股份有限公司章程》（以 下简称"《公司章程》"）的相关规定，就公司本次股东大会的召集、召开程序、 出席会议的人员资格、召集人资格、表决程序及表决结果等事宜出具本法律意见 书。 为出具本法律意见书，本所律师出席了本次股东大会，并核查和验证了公司 提供的与本次股东大会有关的文件、资料，同时听取了公司就有关事实的陈述和 说明。 本所出具本法律意见书是基于公司向本所保证；公司已向本所提供了为出具 本法律意见书所必需的资料和信息，一切足以影响本法律意见书的事实和资料均 已向本所披露；公司向本所提供的所有资料和信息均真实、准确 ...

Core Insights - The article highlights the significant net inflow of main funds into specific stocks over a period of five days or more, indicating strong investor interest and potential growth opportunities in these companies [1][2] Group 1: Key Stocks with Net Inflows - Cambrian Biologics-U (688256) leads with a continuous net inflow for 30 days, totaling 4.192 billion CNY, with a price increase of 41.87% [1] - Huayou Cobalt (603799) follows with a net inflow of 1.829 billion CNY over five days, reflecting a 25.57% increase [1] - Zhongnan Media (601098) has seen a net inflow for eight days, amounting to 1.111 billion CNY, with a minimal price change of 0.16% [2] Group 2: Notable Inflow Metrics - The highest net inflow percentage relative to trading volume is observed in Hebang Biology (603077), with a 13.89% ratio and a price increase of 8.90% over five days [1] - The total net inflow for Cambrian Biologics-U over 30 days is 4.192 billion CNY, indicating strong market confidence [1] - Other notable stocks include Tianqi Lithium (002466) with a net inflow of 576 million CNY and a price increase of 11.09% [1]

Core Insights - As of September 29, a total of 100 stocks in the Shanghai and Shenzhen markets have experienced net buying from major funds for five consecutive days or more [1] - The stock with the longest streak of net buying is Guangming Meat Industry, which has seen net buying for 15 consecutive trading days [1] - Other notable stocks with significant net buying days include Shapais, Zhongnan Media, Xintian Green Energy, Xinhua Wenshu, Jiugang Hongxing, Liqun Co., Meikailong, and Fucheng Co. [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company is focusing on shareholder returns and the new park's establishment is expected to empower diversified development [4] - The traditional main business is under pressure, while the digital and media segments show impressive growth [5] - The company plans to distribute dividends of approximately 1.8 billion yuan, reflecting its commitment to shareholder returns [8] Company Overview - Latest closing price: 12.20 yuan - Total shares: 1.796 billion - Total market capitalization: 21.9 billion yuan - 52-week high/low: 15.14/12.02 yuan - Debt-to-asset ratio: 40.1% - Price-to-earnings ratio: 16.05 [3] Financial Performance - In H1 2025, the company achieved revenue of 6.335 billion yuan, a year-on-year decrease of 8.09%, and a net profit of 1.017 billion yuan, down 31.46% [4] - The publishing business generated revenue of 5.327 billion yuan in H1 2025, a decline of 9.26%, while the digital and media business saw revenue growth of 44.89% [5][6] - The comprehensive gross margin improved to 45.84%, an increase of 1.26 percentage points year-on-year [6] Future Projections - Expected revenues for 2025, 2026, and 2027 are 13.7 billion, 14.2 billion, and 14.8 billion yuan respectively, with corresponding net profits of 1.72 billion, 1.83 billion, and 1.89 billion yuan [9] - Earnings per share (EPS) are projected to be 0.96, 1.02, and 1.05 yuan for the years 2025, 2026, and 2027 [9] Valuation Metrics - The company is expected to have a price-to-earnings ratio of 13, 12, and 12 times for the years 2025, 2026, and 2027 respectively [9]

Core Insights - The concept of "Characteristic Towns" has seen a rise of 0.65% as of the market close on September 26, ranking 9th among concept sectors [1] - Within this sector, 24 stocks experienced gains, with *ST Zhengping hitting the daily limit, while Meichen Technology, Hainan Ruize, and Chengbang Co., Ltd. showed notable increases of 6.62%, 5.19%, and 2.98% respectively [1] - Conversely, Yunnan Urban Investment, Changbai Mountain, and Daqian Ecology faced declines of 2.96%, 2.63%, and 1.91% respectively [1] Market Performance - The "Characteristic Towns" concept ranked 9th in terms of daily increase among various sectors, with a total of 24 stocks rising [1] - The leading gainers in this sector included Meichen Technology (6.62%), Hainan Ruize (5.19%), and Chengbang Co., Ltd. (2.98%) [1] - The sector also saw a net inflow of 0.24 billion yuan from main funds, with 22 stocks receiving net inflows, and 9 stocks exceeding 10 million yuan in net inflow [2] Fund Flow Analysis - Hainan Ruize led the net inflow with 44.57 million yuan, followed closely by Meichen Technology (43.36 million yuan), Huachao City A (33.88 million yuan), and Zhongnan Media (31.42 million yuan) [2][3] - The net inflow ratios for Zhongnan Media, *ST Jiaotou, and Hainan Ruize were 24.77%, 12.07%, and 11.65% respectively, indicating strong interest from main funds [3] Stock Performance - The top stocks in the "Characteristic Towns" sector based on net inflow included: - Hainan Ruize: 5.19% increase, 8.71% turnover rate, 44.57 million yuan net inflow, 11.65% net inflow ratio [3] - Meichen Technology: 6.62% increase, 12.21% turnover rate, 43.36 million yuan net inflow, 7.71% net inflow ratio [3] - Huachao City A: 1.19% increase, 2.16% turnover rate, 33.88 million yuan net inflow, 8.84% net inflow ratio [3]

Market Overview - The publishing sector experienced a decline of 0.47% on September 26, with the Shanghai Composite Index closing at 3828.11, down 0.65%, and the Shenzhen Component Index closing at 13209.0, down 1.76% [1]. Individual Stock Performance - Guomai Culture led the decline with a significant drop of 13.91%, closing at 79.10 [2]. - Other notable declines included Zhongwen Online at -2.80% and China Science Publishing at -2.44% [2]. - Conversely, ST Huawen saw an increase of 4.65%, closing at 2.70, making it one of the few gainers in the sector [1]. Trading Volume and Capital Flow - The total trading volume for the publishing sector showed a net outflow of 25.94 million yuan from institutional investors, while retail investors saw a net inflow of 24.58 million yuan [2][3]. - The top stocks by net inflow from institutional investors included Zhongnan Media with 32.69 million yuan and Nanfang Media with 27.92 million yuan [3]. Summary of Key Stocks - ST Huawen: Closed at 2.70, up 4.65%, with a trading volume of 852,300 shares [1]. - Guomai Culture: Closed at 79.10, down 13.91%, with a trading volume of 179,600 shares [2]. - Zhongwen Online: Closed at 27.06, down 2.80%, with a trading volume of 480,900 shares [2].