Core Points - The article announces the passing of renowned children's literature writer and publisher Zhou Qing, who died on May 2, 2025, at the age of 57 due to illness [1] - Zhou Qing was a member of the Chinese Communist Party and held various significant positions, including the former president and chief editor of the Shanghai Children's Publishing House [1] - She was recognized for her contributions to children's literature, having edited and published numerous award-winning books [1] Summary by Sections - **Biography and Career**: Zhou Qing was born in March 1968 and was actively involved in the literary community, serving as a member of the Chinese Writers Association and holding leadership roles in various literary organizations [1] - **Contributions to Literature**: Zhou edited and published notable works such as "The Complete Works of Big Head Son and Small Head Dad" and "Ten Thousand Whys" (6th edition), receiving multiple national publishing awards [1] - **Personal Works and Awards**: She authored several books, including "The Shadow of Your Growth" and "The Sky at Twelve," winning prestigious awards like the National Excellent Children's Literature Award and the Chen Bochui International Children's Literature Award [1]

新华社突尼斯5月4日电 记者手记｜在突尼斯国际书展感受中国文化独特魅力 新华社记者黄灵 "中国是一个有着悠久文明的伟大国家，中国书法有着独特美感。我还想买一些翻译成阿文和法文的中 国小说，进一步感受中国文学作品的魅力。"带着孩子前来参观突尼斯国际书展的法蒂玛·伊萨，一边观 看中国书法教学视频一边对记者说。 第39届突尼斯国际书展于4月25日至5月4日举行。这是突尼斯的年度文化盛事。今年，中国作为书展主 宾国参展，40多家中国出版社不仅带来一万余册内容丰富、贴近当地读者需求的各类出版物，同时展出 的多彩文化周边产品也吸引了大批参观者。 在五洲出版社的书架前，一名突尼斯女孩看到一套三本的中文学习读物立即拿在手中。这名高中生告诉 记者，她在学校选修中文课，觉得这套书非常好，虽然要花费半个月的零花钱，但还是下决心购买。她 表示，今后想报考中文专业，因为中国文化对她非常有吸引力。 一名中方出版社工作人员告诉记者，中文学习类书籍和各类童书普遍受当地青少年欢迎。展现中华优秀 传统文化以及中国文明进步、科技发展、环境保护的各类图书也很走俏。一些中国文化爱好者在书展期 间还会询问关于中国武术、热门网络文学的书籍。 中信出版集团 ...

Core Viewpoint - The company reported a decline in revenue and net profit for 2024, primarily due to weak book consumption demand and business adjustments [1][2]. Financial Performance - The company achieved a revenue of 821 million yuan in 2024, a year-on-year decrease of 8.89% [2]. - The net profit attributable to shareholders was 127 million yuan, down 20.87% year-on-year [2]. - The net profit after deducting non-recurring items was 107 million yuan, a decrease of 23.26% year-on-year [2]. - The gross profit margin decreased by 1.48 percentage points to 47.20% [2]. Business Segments - The overseas business generated revenue of 123 million yuan, a decline of 9.40% year-on-year, with a net loss of 22 million yuan, increasing losses by 51.41% [2]. - Revenue from physical books was 746 million yuan, down 9.56% year-on-year; digital content revenue was 48 million yuan, up 2.75%; and copyright operations revenue was 19 million yuan, down 8.72% [2]. Cost and Expenses - Sales expenses were 159 million yuan, a decrease of 1.45% year-on-year, while management expenses were 75 million yuan, down 3.64% [2]. - Financial expenses were -3 million yuan, a decrease of 80.26% year-on-year, attributed to increased interest income from bank deposits [2]. - R&D expenses were 7 million yuan, down 29.43% due to a reduction in R&D personnel [2]. IP Development and Shareholder Returns - The company is focusing on diversified IP operations, with the "bibi zoo" IP achieving over 5 million fans and 3 billion views [3]. - The company plans to distribute cash dividends of 8.00 yuan per 10 shares, totaling approximately 123 million yuan, which represents 96.85% of the net profit [3]. - The total amount for cash dividends and share buybacks is 196 million yuan, exceeding the net profit by 154.56% [3]. Investment Outlook - The company maintains a strong recommendation for investment, with expected net profits of 144 million, 163 million, and 179 million yuan for 2025, 2026, and 2027, respectively [4].

智通财经APP获悉，招商证券发布研究报告称，截至4月30日上午，A股上市公司2024年年报和2025年 一季报业绩基本披露完毕(披露率99.8%)。受政策效果持续显现以及科技创新趋势驱动，整体A股盈利增 速转正。大类行业中信息技术、消费服务增速相对领先，TMT、资源品和中游制造业边际改善。推荐 关注业绩增速相对较高、自由现金流边际改善的领域。 招商证券主要观点如下： 利润端：一季度上市公司业绩边际改善。根据一致可比口径和整体法测算，A股2024Q3/2024Q4/2025Q1 单季度净利润增速依次为3.7%/-15.7%/3.2%，非金融石油石化2024Q3/2024Q4/2025Q1单季度净利润增速 为-10.5%/-50.2%/4.5%。 收入端：全部A股单季度收入增速较24Q4放缓，但仍高于24Q3，延续改善。全部A股 2024Q3/2024Q4/2025Q1单季度收入增速依次为-2.0%/1.4%/-0.3%，非金融石油石化板块 2024Q3/2024Q4/2025Q1单季度收入增速依次为-2.9%/1.2%/0.5%。海外营收增幅扩大，海外营收占收入 的比例持续提升。 25年一季度A股盈利回暖主要受 ...

转自：北京日报客户端 新书集结，活动贴心 5月1日，2025北京书市分展场在北京城市副中心三大文化建筑共享空间启幕。分展场展区面积达到3000 平方米，设有八大特色专区，汇聚了120余个展位、20余场文化活动，呈现一场集阅读、文创、非遗、 休闲于一体的春日文化盛宴。 精彩呈现，体验丰富 记者在现场看到，书市分展场集结了通州区当地特色优质实体书店及文旅商体农共创联盟成员企业。 特色实体书店根据自身经营和选品特色，带来精美图书和文创产品集中展销。"运河上的通州" 特色宣 传展台，通过多种形式构建"图书展销 + 非遗活化 + 成果展示"的多维矩阵，展现城市副中心文化传 承。 据相关负责人介绍，通州区内45家全民阅读领导小组成员单位还将联动开展北苑"阅读马拉松"，与张家 湾"时尚缤纷节"、西集"春暖运河开放麦"主题歌会、台湖"爵士音乐节"、漕运码头 "运河文化美食节"等 20 余场文化活动一起，推出"副中心文旅推荐路线"，形成 "阅读 + 文化 + 旅游"的多维引流效应。读者 在逛书市之余，还能感受音乐魅力和传统民俗活动乐趣，实现 "逛书市、游景点、享生活"一站式体 验。 书市分展场共设置8个展区及1个活动区。主题出 ...

Core Viewpoint - The article highlights the vibrant reading culture in various cities in China, particularly focusing on the initiatives taken in Nanjing and Wuhan to promote reading among the public, showcasing diverse activities and community engagement in the lead-up to World Book Day. Group 1: Nanjing Reading Initiatives - Nanjing has launched various reading activities, including the "Qiyue Lecture Hall," which features renowned authors and scholars to engage the community in literary discussions [10][11] - The "Qiyue Lecture Hall" has hosted over 60 events since its inception in 2023, attracting significant participation from local residents [11] - The average annual reading volume per resident in Qixia District has increased to 8.3 books, a 42% rise compared to five years ago, indicating a growing reading culture [14] Group 2: Community Engagement in Nanjing - The district has established a network of 144 public reading spaces, including community libraries and reading booths, to facilitate access to literature [14] - Events like the "Little Reader Showcase" have engaged around 1,000 elementary school students annually, promoting reading and writing through performances [14] - The integration of reading into various community activities has fostered a culture of reading among diverse demographics, including workers and students [14] Group 3: Wuhan Reading Initiatives - Wuhan's "Book Fragrance Month" has been celebrated for 14 consecutive years, featuring numerous reading activities across the city [26] - The city has innovatively integrated reading into public transport, with the "Metro Reading Festival" allowing passengers to borrow books and listen to audiobooks while commuting [20][21] - The "Long River Book House," a floating library on a boat, has become a unique cultural space for citizens and tourists, promoting reading in a scenic environment [24] Group 4: Community and Family Reading in Wuhan - Community family reading rooms have been established to address educational resource gaps and foster intergenerational connections [22][23] - The "Nurturing Children" family reading project has transformed unused spaces into multifunctional reading areas, enhancing community engagement [22] - Events like the "City Wall Reading Club" combine literature with local history, enriching the cultural experience for participants [25] Group 5: National Reading Promotion - The "Wenjin Book" initiative has recognized outstanding publications, promoting quality literature across various genres [27][28] - The event has seen a record number of participating books and publishers, reflecting the growing interest in literature and reading [27] - The collaboration among libraries and cultural institutions aims to enhance the reading environment and encourage public participation in literary activities [28]

Core Viewpoint - The "Reading Beijing, Colorful Book Fragrance" seminar focuses on the creation, publication, and promotion of cultural books in Beijing, discussing the inheritance and innovation of Beijing's culture in the digital age [1][3]. Group 1: Digital Reading Trends - Beijing Publishing Group emphasizes its core philosophy of "originality, professionalism, and excellence," launching the "Book Fragrance Jinghua" digital reading platform that integrates AR/VR technology and quality resources to merge ancient texts with digital media [3]. - The seminar highlighted four major trends in digital reading: decentralization, coexistence of paper and screens, intelligent matching, and enhanced user experience [3]. Group 2: Cultural and Publishing Integration - Panel discussions addressed themes such as exploring cultural roots, telling contemporary Beijing stories, creating a new publishing ecosystem, and achieving full-scene engagement to build a book-loving city [5]. - Authors and publishers advocate for leveraging digital technology to deeply explore cultural connotations and for print media to remain a core element of the cultural chain, promoting a collaborative model of "quality print books + digital derivatives" [5]. Group 3: Education and Talent Development - The integration of AI in education is acknowledged, with a call for balance between technological innovation and cultural foundations, emphasizing the need for future publishing talents to understand both technology and culture [5]. Group 4: Upcoming Initiatives - The seminar announced the upcoming "Colorful Book Fragrance" recommended reading list, which will cover themes related to Beijing's history, culture, literature, and science, set to be released in May on the digital reading platform [5].

Investment Rating - The report maintains a positive investment rating for the media and entertainment sector, particularly highlighting leading companies such as Shenzhou Taiyue, Southern Media, and Tencent Holdings [1][2]. Core Insights - The media sector has shown resilience with a slight increase of 0.14% in the past week, ranking 22nd among all sectors, while year-to-date performance is up by 0.30%, placing it 9th overall [1]. - The publishing industry is experiencing a rebound, with companies like Southern Media and Phoenix Media exceeding market expectations, driven by stable cash flow from educational materials [1]. - The film industry is expected to benefit significantly from the success of "Nezha 2," with companies like Wanda Film anticipated to see substantial growth [1]. - The gaming sector is also highlighted for its strong performance, supported by favorable valuations, growth rates, and the impact of AI development [1][2]. Summary by Sections Media Sector Performance - The media industry index increased by 0.14% in the last week, with notable individual stock performances, including significant gains from companies like Xingyibao and Hengdian Film [10][12]. - The publishing sector is characterized by stable cash flows and attractive valuations, with many companies trading at around 10 times earnings and offering dividend yields of approximately 4% [1][2]. Film and Television Insights - The top films in the box office include "Nezha: The Devil Child," which grossed 51.69 million, and "The Hunt," with a box office of 17.18 million [17][18]. - Upcoming films are expected to attract significant audience interest, with "The Kowloon Walled City" leading in pre-release interest [19]. Gaming Sector Highlights - Tencent dominates the mobile gaming market, with seven titles in the iOS top ten, including "Honor of Kings" at the top position [30][31]. - The gaming industry is benefiting from AI advancements, enhancing operational efficiencies and advertising capabilities [2]. Publishing and Literature Trends - The top-selling fictional books include "Nezha: The Three Realms' Past" and "To Live (2021 Edition)," indicating strong consumer interest in literary works [32][33]. - The report notes a diverse range of successful titles across various genres, reflecting a robust publishing market [32][33].

Group 1: Fixed Income Market - The recent volatility in the US Treasury market is largely attributed to the upcoming June maturity, which may be overestimated in terms of its impact on financial markets [2] - In the short term, the supply pressure from maturing US Treasuries is expected to be limited, with a more significant focus on the debt ceiling adjustments anticipated in Q3 [2] - Long-term demand for US Treasuries may face a downward trend, with potential alternatives including European and Japanese bonds, as well as gold [2] Group 2: Technology Sector - The report discusses India's potential as the next manufacturing hub for Apple, highlighting the competitive tariff advantages for Indian exports compared to China [4] - Apple theoretically has the capacity to produce the required number of iPhones in India, but initial production will still rely on Chinese exports due to current limitations [4] - The localization of components in India is still in its early stages, with significant reliance on supply chains from other Asian countries for critical parts [4] Group 3: Energy and New Energy - The lithium battery production forecast for May shows a slight decline in overall production, primarily due to the cancellation of mandatory storage policies and the impact of US tariffs on exports [5] - Despite short-term fluctuations, the long-term outlook for the lithium battery industry remains positive, driven by new vehicle models and technologies [5] - Recent power outages in Spain, Portugal, and southern France have underscored the need for investment in grid upgrades and DC grid technology, presenting opportunities for Chinese power equipment companies [6] Group 4: Media and Publishing - Phoenix Media reported a Q1 2025 revenue of 3.226 billion yuan, reflecting a year-over-year decline, but a significant increase in net profit due to continued tax incentives [7] - The company maintains a stable core business and is rated as a "buy" based on its solid performance and favorable tax policies [7] Group 5: Financial Sector - The report indicates that the China Construction Bank's Q1 2025 net profit and revenue showed slight year-over-year changes, with a focus on asset quality and credit expansion [9] - The bank's diversified income sources and stable operations support a "buy" rating [9] Group 6: Consumer Goods - The report highlights the strong performance of China National Offshore Oil Corporation, with Q1 revenues showing a significant year-over-year increase, driven by stable oil and gas production [20] - The company is expected to maintain a "buy" rating due to its robust operational performance and project advancements [20] Group 7: Real Estate - The report notes that China Petroleum's Q1 2025 revenue and net profit exceeded expectations, attributed to increased natural gas production and sales [34] - The company is rated as "increase" based on its strong performance and potential for further growth in the natural gas sector [34]

2025年4月30日，山东出版(601019.SH)发布2025年一季报。 公司营业总收入为24.78亿元，在已披露的同业公司中排名第6，较去年同报告期营业总收入增加750.25 万元，实现5年连续上涨，同比较去年同期上涨0.30%。归母净利润为3.23亿元，在已披露的同业公司中 排名第5，较去年同报告期归母净利润增加1.13亿元，同比较去年同期上涨53.46%。经营活动现金净流 入为4292.37万元，在已披露的同业公司中排名第5，较去年同报告期经营活动现金净流入增加5.85亿 元。 公司最新资产负债率为32.00%，在已披露的同业公司中排名第13，较去年同期资产负债率减少3.97个百 分点。 公司最新毛利率为41.67%，在已披露的同业公司中排名第8，较上季度毛利率增加4.46个百分点，实现2 个季度连续上涨，较去年同期毛利率增加3.07个百分点，实现2年连续上涨。最新ROE为2.12%，在已披 露的同业公司中排名第10，较去年同期ROE增加0.72个百分点。 公司摊薄每股收益为0.15元，在已披露的同业公司中排名第11，较去年同报告期摊薄每股收益增加0.05 元，同比较去年同期上涨50.00%。 公司最 ...