证券代码：300413 证券简称：芒果超媒 公告编号：2025-043 芒果超媒股份有限公司 关于变更持续督导保荐代表人、独立财务顾问主办人的公告 附件： 杨琳娜女士简历 杨琳娜女士，中金公司投资银行部经理，毕业于清华大学，硕士研究生学历，保 荐代表人，曾作为项目核心成员参与多个境内外首次公开发行、再融资及并购重组项 目，在投行业务方面具有较为丰富的经验。 芒果超媒股份有限公司（以下简称"芒果超媒"或"公司"）于近日收到中国国 际金融股份有限公司（以下简称"中金公司"）《关于更换芒果超媒股份有限公司持 续督导保荐代表人/独立财务顾问主办人的说明》。中金公司受芒果超媒的委托，担 任芒果超媒 2020 年度向特定对象发行 A 股股票项目（以下简称"非公开发行"）的 保荐机构，原委派王琨女士、陈佳奇先生担任保荐代表人，并担任芒果超媒发行股份 购买资产并募集配套资金项目（以下简称"重大资产重组"）的独立财务顾问，原委 派王琨女士、陈佳奇先生担任独立财务顾问主办人。非公开发行及重大资产重组的持 续督导期分别至 2023 年 12 月 31 日及 2019 年 12 月 31 日，上述项目的募集资金尚未 使用完毕，中金公 ...

声明人赵龙凯作为芒果超媒股份有限公司第四届董事会独立 董事候选人，已充分了解并同意由提名人芒果超媒股份有限公司董 事会提名为芒果超媒股份有限公司（以下简称"该公司"）第四届 董事会独立董事候选人。现公开声明和保证，本人与该公司之间不 存在任何影响本人独立性的关系，且符合相关法律、行政法规、部 门规章、规范性文件和深圳证券交易所业务规则对独立董事候选人 任职资格及独立性的要求，具体声明并承诺如下事项： 一、本人已经通过芒果超媒股份有限公司第四届董事会提名委 员会或者独立董事专门会议资格审查，提名人与本人不存在利害关 系或者其他可能影响独立履职情形的密切关系。 是 □ 否 芒果超媒股份有限公司 独立董事候选人声明与承诺 如否，请详细说明：______________________________ 二、本人不存在《中华人民共和国公司法》第一百四十六条等 规定不得担任公司董事的情形。 是 □ 否 如否，请详细说明：______________________________ 三、本人符合中国证监会《上市公司独立董事管理办法》和深 圳证券交易所业务规则规定的独立董事任职资格和条件。 是 □ 否 如否，请详细说明：__ ...

芒果超媒股份有限公司独立董事提名人声明 提名人芒果超媒股份有限公司董事会现就提名赵龙凯先生 为芒果超媒股份有限公司第四届董事会独立董事候选人发表公 开声明。被提名人已书面同意出任芒果超媒股份有限公司第四 届董事会独立董事候选人（参见该独立董事候选人声明）。本次 提名是在充分了解被提名人职业、学历、职称、详细的工作经 历、全部兼职、有无重大失信等不良记录等情况后作出的，本 提名人认为被提名人符合相关法律、行政法规、部门规章、规 范性文件和深圳证券交易所业务规则对独立董事候选人任职资 格及独立性的要求，具体声明并承诺如下事项： 一、被提名人已经通过芒果超媒股份有限公司第四届董事 会提名委员会或者独立董事专门会议资格审查，提名人与被提 名人不存在利害关系或者其他可能影响独立履职情形的密切关 系。 是 □ 否 二、被提名人不存在《中华人民共和国公司法》第一百四 十六条等规定不得担任公司董事的情形。 是 □ 否 三、被提名人符合中国证监会《上市公司独立董事管理办 法》和深圳证券交易所业务规则规定的独立董事任职资格和条 件。 是 □ 否 四、被提名人符合公司章程规定的独立董事任职条件。 是 □ 否 五、被提名人已经参加培 ...

证券代码：300413 证券简称：芒果超媒 公告编号：2025-049 芒果超媒股份有限公司 1、股东会届次：2025 年第一次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所创 业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号—创业板上市公 司规范运作》等法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 12 月 29 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 12 月 29 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票 系统投票的具体时间为 2025 年 12 月 29 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2025 年 12 月 24 日 关于召开 2025 年第一次临时股东会的通知 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 ...

证券代码：300413 证券简称：芒果超媒 公告编号：2025-045 芒果超媒股份有限公司 第四届监事会第二十九次会议决议公告 本公司及监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。 经审议，监事会认为：芒果 TV 智慧视听媒体服务平台项目已经达到预期可使用 状态，将节余募集资金用于新增募投项目芒果 TV 音视频行业大模型矩阵项目建设， 符合募集资金管理相关规定，不存在违规存放与使用募集资金的情况，也不存在损害 股东，尤其是中小股东利益的情形。公司保荐机构就该事项出具了核查意见。保荐机 构核查意见、募投项目结项及节余募集资金用于新募投项目情况详见公司同日在巨潮 资讯网披露的公告。 表决结果：3 票同意，0 票反对，0 票弃权。 本议案尚需提交公司股东会审议。 一、会议召开情况 芒果超媒股份有限公司（以下简称"公司"）第四届监事会第二十九次会议（以 下简称"会议"）于 2025 年 12 月 12 日以通讯表决方式召开。会议由公司监事会主 席谭丽主持，会议应出席监事 3 人，实际出席监事 3 人。会议的召开符合有关法律、 行政法规、部门规章、规范性文件和公司章程的规定 ...

1.审议通过《关于修订〈公司章程〉的议案》 证券代码：300413 证券简称：芒果超媒 公告编号：2025-044 芒果超媒股份有限公司 第四届董事会第三十一次会议决议公告 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、会议召开情况 芒果超媒股份有限公司（以下简称"公司"）第四届董事会第三十一次会议（以 下简称"会议"）于 2025 年 12 月 12 日以通讯表决方式召开。会议由董事长蔡怀军 主持，应出席董事 9 人，实际出席董事 9 人，公司监事对表决结果进行了统计确认。 会议的召开符合有关法律、行政法规、部门规章、规范性文件和公司章程的规定。 二、会议审议情况 为全面贯彻落实最新法律法规和监管规定要求，进一步规范公司运作机制，持续 提升公司治理水平，根据《公司法》《上市公司章程指引》《关于新〈公司法〉配套 制度规则实施相关过渡期安排》《深圳证券交易所创业板股票上市规则》《深圳证券 交易所上市公司自律监管指引第2号——创业板上市公司规范运作》等最新法律法规、 规范性文件的规定，公司对《公司章程》进行相应修订，主要包括：将"股东大会" 修改为"股东会" ...

Investment Rating - The report maintains a "Strong Buy" rating for the gaming sector, indicating a positive outlook for companies with rich product reserves and strong self-developed capabilities [2][76]. Core Insights - The gaming industry continues to show high prosperity, driven by a new product cycle in 2025, with significant contributions from key companies such as Century Huatong, Giant Network, and Gigabit [2][16]. - The overall media industry has seen a revenue increase of 5.58% year-on-year, with net profit growth of 37.07%, indicating improved profitability across sectors [20][26]. - The report highlights the impact of favorable policies and AI technology on the film and television sector, suggesting a potential recovery in the industry [76]. Summary by Sections 1. Media and Internet Overview - The media industry index has increased by 28.47% year-to-date, outperforming major indices like the Shanghai Composite [15][16]. - The gaming sector has seen a year-to-date increase of 59.84%, significantly contributing to the media industry's growth [16]. 2. Industry Performance - In Q3 2025, the media industry achieved a revenue of 1,326.51 billion, a year-on-year increase of 8.98%, with a net profit of 103.16 billion, up 57.23% [26]. - The gaming sector's revenue for Q3 2025 reached 303.62 billion, with a net profit of 57.77 billion, reflecting a year-on-year growth of 28.61% and 111.65% respectively [37]. 3. Sector Analysis 3.1 Gaming - The gaming industry is driven by blockbuster products, with a revenue increase of 24.4% year-on-year for the first three quarters of 2025 [33]. - The report emphasizes the sustainability of profit growth due to the long lifecycle of new game products [39]. 3.2 Television Broadcasting - The television broadcasting sector reported a revenue of 328.9 billion, a year-on-year increase of 5.3%, with a significant reduction in losses [44][46]. 3.3 Film Industry - The film industry saw a revenue of 283.01 billion in the first three quarters of 2025, with a net profit increase of 108.52% [50]. 3.4 Advertising - The advertising sector achieved a revenue of 1,292.33 billion, with a year-on-year growth of 5.97% [61]. 3.5 Digital Media - The digital media sector faced challenges, with a revenue decline of 0.26% year-on-year, primarily due to pressures in content e-commerce [66]. 3.6 Publishing - The publishing sector reported a revenue of 939.11 billion, down 7.37% year-on-year, but net profit increased by 15.48% due to favorable tax policies [69]. 4. Investment Recommendations - The report recommends focusing on gaming companies with strong product pipelines and self-development capabilities, such as 37 Interactive Entertainment and Giant Network [76]. - It also suggests looking at film and television companies benefiting from policy improvements and AI advancements, including China Film and Mango Super Media [76].

Group 1 - The core trend in 2025 is the shift towards "human touch" content, where users prefer authentic, imperfect, and relatable narratives over polished presentations [2][7] - Brands are adapting by engaging in more relatable and humorous interactions, moving away from traditional advertising styles [4][6] - The rise of "group broadcasting" has become a significant growth area in the live streaming industry, attracting both influencers and celebrities, and integrating deeply with brand marketing [8][10][14] Group 2 - The concept of "evil practices" has emerged among young people as a form of resistance against societal pressures, reflecting a desire for low-effort, high-reward solutions in their lives [15][17] - The backlash against "elitist" attitudes in marketing and content creation has highlighted the importance of relatability and empathy in communication [25][26] - Video podcasts are gaining traction, evolving from audio-only formats to more immersive visual experiences, catering to diverse audience preferences [26][28] Group 3 - The "Middle-aged Women Era" is reshaping narratives around women aged 30-55, showcasing their independence and multifaceted roles in society [29][31] - The short drama market is experiencing significant growth, with a projected market size of 677.9 billion yuan in 2025, indicating a shift towards more structured and high-quality content [32][34] - The "silver economy" is emerging as a new frontier, with older adults becoming active participants in content creation, reflecting their unique perspectives and needs [41][46] Group 4 - Localized content is gaining prominence, as narratives shift from urban-centric to more diverse and authentic representations of life in smaller towns and rural areas [47][49] - The overarching theme for 2025 is a return to "human-centric" content, emphasizing genuine stories and connections over mere entertainment [50]

Group 1 - The domestic long drama market in Q3 2025 shows significant "head effect, frequent high-quality content, enhanced platform dominance, and diversified business models," despite a slight decline in total market volume [4] - The top 20 long dramas in Q3 2025 achieved 14.5 billion effective views, a 10% year-on-year decrease, while the number of new long dramas with effective views between 10 million and 20 million increased by 7 [4] - The proportion of exclusive domestic new dramas reached 79%, up 6 percentage points year-on-year, with platforms like Youku and Mango TV deepening their exclusive distribution strategies [4] Group 2 - The micro-short drama market in China is projected to reach 67.79 billion yuan in 2025, a year-on-year increase of 34.40%, with expectations to exceed 150 billion yuan by 2030 [5] - The industry is moving beyond single-genre "爽剧" (refreshing dramas) as diverse and innovative themes emerge, with brand IP customization becoming mainstream [5] - Major online literature platforms are expanding their IP libraries, with Tomato Novel's IP adaptations increasing 17 times compared to the previous year [5] Group 3 - The global drama series market is expected to reach 108 billion dollars by 2025, with a compound annual growth rate of 5.4% from 2025 to 2033 [3] - Subscription-based streaming platforms are anticipated to become the largest contributors to the global television economy, generating 190 billion dollars annually by 2029 [3] - The demand for high-quality scripted content is driving the production of long dramas, aligning with audience preferences for binge-watching and complex narratives [3] Group 4 - Investment recommendations include companies such as Mango Super Media, Huanrui Century, Huace Film & TV, Beijing Culture, and Damai Entertainment, as long drama content quality and IP ecosystem development are expected to enhance industry value [6]

Core Insights - The report indicates that the Chinese economy is expected to grow by 5.0% in 2025 and 4.5% in 2026 according to the IMF, reflecting a moderate recovery phase [5][8] - The A-share market is experiencing a phase of consolidation with potential upward movement supported by favorable policies and improved liquidity [9][12] - The semiconductor industry is in an upward cycle, driven by strong demand for AI computing hardware and significant capital investments from major tech companies [19][30] Domestic Market Performance - The Shanghai Composite Index closed at 3,900.50 with a slight decline of 0.23%, while the Shenzhen Component Index rose by 0.29% to 13,316.42 [4] - The average P/E ratios for the Shanghai Composite and ChiNext are 16.04 and 49.54 respectively, indicating a suitable environment for medium to long-term investments [12] Industry Analysis - The food and beverage sector saw a rebound in November 2025, particularly in pre-packaged foods and alcoholic beverages, although overall performance remains weak with a cumulative decline of 0.16% from January to November [14][15] - The semiconductor industry experienced a 5.10% decline in November, but year-to-date performance remains strong with a 38.02% increase [19] - The electric power and utilities sector showed resilience, with a 10.4% year-on-year increase in electricity consumption in October 2025, driven by the charging and swapping service industry [23][24] Investment Strategies - The report suggests focusing on sectors such as commercial retail, precious metals, and automotive for short-term investment opportunities [12][18] - In the semiconductor space, companies involved in AI chip production and infrastructure are recommended due to the ongoing demand and technological advancements [19][30] - The food and beverage sector is advised to consider investments in soft drinks, health products, and baked goods, with specific companies highlighted for potential growth [35][36]