Core Viewpoint - Southern Media (601900) announced the appointment of Ms. Lei He as the company's Vice General Manager and Secretary of the Board on the evening of September 23 [1] Company Summary - The company has made a significant leadership change by hiring Ms. Lei He for key management positions [1]

Group 1 - The company announced the appointment of Mr. Jiang Mingtai as the vice president [1]

果麦文化公告，经核查，公司未发现近期公共传媒报道过可能或者已经对公司股票交易价格产生较大影 响的未公开重大信息；经核查，公司目前生产经营情况正常，内外部经营环境未发生重大变化；经核 查，公司、控股股东及实际控制人不存在应披露而未披露的重大事项或处于筹划阶段的重大事项；经核 查，控股股东、实际控制人、董事、高级管理人员在股票交易异常波动期间不存在买卖公司股票的情 形。 ...

Core Viewpoint - The "Book Fragrance Yangtze" Reading Week and Wuhan Book Fair showcased over 400 publishing units and nearly 70,000 quality books, emphasizing cultural sharing and innovation in the publishing industry [2][3]. Group 1: Event Overview - The event featured diverse activities including exhibitions, forums, and digital interactions, aiming to create a cultural feast for readers [2]. - Hubei Changjiang Publishing Media Group presented over a thousand quality works across various genres, hosting more than 40 cultural activities to highlight its cultural strength [2][4]. Group 2: Innovation and Development - The company is focused on enhancing publishing quality, educational services, and digital transformation, achieving significant social and economic benefits [4]. - The exhibition included themed zones showcasing works that reflect national will and cultural characteristics, as well as award-winning publications [4]. Group 3: Cultural and Creative Products - The Hubei Xinhua Bookstore Group integrated resources from 17 cities and 12 universities to display nearly 10,000 creative products, promoting the "Cultural Yangtze" theme [5]. - The event also featured various cultural activities, including book salons and new media conferences, to engage readers [6]. Group 4: Company Performance - Changjiang Publishing Media has shown resilience in a challenging industry, ranking among the top cultural enterprises in China and achieving significant revenue growth [8][9]. - In the first half of 2025, the company reported revenue of 3.548 billion yuan and a net profit of 685 million yuan, marking a 29% year-on-year increase [8]. Group 5: Future Plans - The company is developing a "15th Five-Year" plan to enhance its core functions and values, focusing on strategic projects to support Hubei's cultural industry [10].

Core Points - The book "Time Lies: A History of Time Creation" discusses the global timing reform that took place 150 years ago, highlighting the confusion and errors in timekeeping that were prevalent at the time [1][3] - The establishment of a standardized time system, which divides the world into 24 time zones, was a significant achievement that is often taken for granted today [1][3] Group 1: Historical Context - The issue of timekeeping was critical in the 19th century, with a dual system of local times existing alongside efforts to create a universal standard [1][3] - The railway industry played a pivotal role in advocating for standardized time due to the need for accurate scheduling, as exemplified by the 1837 train accident in Virginia [3][6] Group 2: Key Figures and Proposals - Canadian railway engineer Sanford Fleming proposed the establishment of 24 standard time zones, each spanning 15 degrees of longitude, to eliminate confusion caused by local times [4][5] - Fleming's proposals included the establishment of a prime meridian at the Bering Strait and the use of a 24-hour clock system [4] Group 3: Challenges and Opposition - Political and academic authorities were hesitant to adopt Fleming's proposals, with many viewing the issue as not urgent enough to warrant intervention [5][8] - The 1883 decision by American and Canadian railways to adopt standard time did not lead to immediate global implementation, as many cities resisted the change [6][10] Group 4: The Role of the Public and Private Sector - The Bellville family in the UK operated as "informal time service providers," catering to clients who required precise timekeeping, highlighting the demand for time services even before standardization [7] - The international political dynamics at the International Meridian Conference in 1884 revealed that smaller nations and non-scientific representatives had limited influence on the decision-making process [8][10] Group 5: Long-term Impact - The International Meridian Conference laid the groundwork for future developments in timekeeping, which became more feasible with advancements in technology and communication, such as radio broadcasting [10][12] - The clock and publishing industries experienced significant changes post-conference, with a surge in patent applications and the frequent updating of time-related publications reflecting the ongoing reform efforts [10]

Summary of Key Points Core Viewpoint - The financial performance and trading activities of 安徽新华传媒股份有限公司 (Wahxin Media) indicate a mixed outlook, with a decline in revenue but an increase in net profit, alongside notable trading activity in margin financing and securities lending. Group 1: Financial Performance - For the first half of 2025, Wahxin Media reported operating revenue of 4.593 billion yuan, a year-on-year decrease of 11.90% [2] - The net profit attributable to shareholders for the same period was 678 million yuan, reflecting a year-on-year growth of 17.19% [2] Group 2: Shareholder and Trading Activity - As of September 17, 2023, Wahxin Media's financing balance was 204 million yuan, with a net financing outflow of 39.52 million yuan on that day [1] - The company had a total of 26,000 shareholders as of June 30, 2025, which is a decrease of 10.22% from the previous period [2] - The average number of circulating shares per shareholder increased by 11.39% to 75,273 shares [2] Group 3: Dividend and Institutional Holdings - Since its A-share listing, Wahxin Media has distributed a total of 4.383 billion yuan in dividends, with 1.357 billion yuan distributed over the past three years [3] - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which increased its holdings by 1.7224 million shares to 9.4375 million shares [3]

Group 1 - The first extraordinary general meeting of shareholders for Anhui Xinhua Media Co., Ltd. was held on September 16, 2025, in Hefei [2][3] - The meeting was convened by the board of directors and chaired by Chairman Zhang Kewen, complying with the Company Law and the Articles of Association [2][3] - All resolutions proposed during the meeting were approved without any dissenting votes [2][3] Group 2 - The meeting included the approval of several key resolutions, such as the cancellation of the supervisory board and amendments to the Articles of Association [3][4] - Other resolutions passed included revisions to the rules for shareholder meetings, board meetings, independent director management, fundraising management, related party transaction management, profit distribution management, and the remuneration management for directors and senior management [4][5] - The resolution to reappoint the accounting firm was also approved [4][5] Group 3 - The legal proceedings of the meeting were witnessed by Anhui Chengyi Law Firm, confirming that all procedures and results were in accordance with relevant laws and regulations [5][6] - The meeting did not discuss any matters outside of the agenda specified in the notice for the extraordinary general meeting [5][6]

Core Points - Xinhua Wenhui's stock price increased by 6.84% to 16.08 CNY per share, with a trading volume of 90.16 million CNY and a turnover rate of 0.74%, resulting in a total market capitalization of 19.84 billion CNY [1] - The company, established on June 11, 2005, and listed on August 8, 2016, operates in publishing, reading services, and educational services, with revenue composition of 87.99% from distribution, 23.16% from publishing, and 3.73% from other sources [1] Shareholder Information - Zhongyou Fund's "Zhongyou New Thinking Flexible Allocation Mixed A" (001224) entered the top ten circulating shareholders, holding 2.144 million shares, which is 0.17% of the circulating shares, with an estimated floating profit of approximately 2.21 million CNY [2] - The fund was established on November 11, 2015, with a latest scale of 1.885 billion CNY, achieving a year-to-date return of 22.08% and a one-year return of 44.83% [2] Fund Management - The fund manager, Jin Zhenzhen, has been in position for 3 years and 27 days, managing a total fund size of 2.069 billion CNY, with the best return during the tenure being 71.44% and the worst being -7.36% [3]

Core Points - The company is preparing for the election of the new board of directors and supervisory board, which will be postponed to ensure continuity and stability in operations [1][2] - The current terms of the 10th board of directors and supervisory board will be extended until the election process is completed [1] - The company assures that the postponement will not affect normal operations and that current directors and supervisors will continue to fulfill their duties [2] Summary by Sections - **Board and Supervisory Board Election** The 10th board of directors and supervisory board of the company will complete their terms on September 15, 2025, and the election process is being actively prepared [1] - **Regulatory Compliance** The company is adhering to the requirements of the Company Law and relevant regulations from the China Securities Regulatory Commission regarding the election and management system revisions [1] - **Operational Continuity** The postponement of the election will not impact the company's normal operations, and current management will continue to perform their responsibilities until the new elections are held [2]

Group 1 - The company plans to reappoint Tianzhi International Accounting Firm as its auditor for the year 2025 [2][3] - Tianzhi International was established in December 1988 and is headquartered in Beijing, specializing in audit assurance, capital market services, and management consulting [3][4] - As of December 31, 2024, Tianzhi International reported total audited revenue of 2.501 billion yuan, with audit service revenue of 1.938 billion yuan and securities service revenue of 912 million yuan [4] Group 2 - The company’s board of directors approved the reappointment of Tianzhi International after reviewing its professional competence, investor protection capabilities, and integrity [10] - The reappointment requires approval from the company's shareholders' meeting [10][18] - Tianzhi International has a strong investor protection capability, having accumulated a professional risk fund and insurance coverage of no less than 200 million yuan [5] Group 3 - Tianzhi International has not faced any civil liability in lawsuits related to its professional conduct in the past three years [5] - The firm has received one administrative penalty and several supervisory measures in the last three years, but these do not affect its ability to conduct audits for listed companies [6][8] - The audit fees for 2025 are set at 3.2 million yuan, which includes 2.6 million yuan for annual report audits and 600,000 yuan for internal control audits [9] Group 4 - The company’s subsidiary, Zhongnan Boji Tianjuan Cultural Media Co., plans to provide a 25 million yuan entrusted loan to Beijing Boji Tianjuan Film Co. for film project investments [29][30] - The loan has a term of two years with an interest rate of 2.85%, and it is secured by real estate collateral [30][44] - The board of directors believes that this loan will enhance the financial returns for Zhongnan Boji and support the business development of Boji Film [45]