Core Viewpoint - Citic Publishing has demonstrated strong operational capabilities during the industry's downturn, supported by its ongoing digital strategy and a three-pronged growth model of "Publishing + Services + Consumption" [6] Group 1: Company Overview - Citic Publishing, established on February 16, 1993, and listed on the Shenzhen Stock Exchange on July 5, 2019, is a leading player in China's publishing industry, focusing on book publishing and distribution, bookstore retail, and other cultural value-added services [1] - The company has a rich content resource and advantages in digital publishing technology [1] Group 2: Financial Performance - For Q3 2025, Citic Publishing reported revenue of 1.241 billion yuan, ranking 10th in the industry, with the top competitor, Anhui Xinhua Media, generating 6.851 billion yuan [2] - The company's net profit for the same period was 161 million yuan, ranking 8th in the industry, with Anhui Xinhua Media leading at 963 million yuan [2] - The main business segments include book publishing and distribution (655 million yuan, 72.06%), urban cultural space operations (154 million yuan, 16.97%), and digital services (99.325 million yuan, 10.97%) [2] Group 3: Financial Ratios - As of Q3 2025, Citic Publishing's debt-to-asset ratio was 31.55%, down from 32.88% year-on-year, which is lower than the industry average of 32.11%, indicating strong solvency [3] - The company's gross profit margin was 40.53%, up from 39.19% year-on-year, exceeding the industry average of 30.79%, reflecting good profitability [3] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 15.01% to 13,600, while the average number of circulating A-shares held per account increased by 17.66% to 14,000 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 1.1151 million shares, a decrease of 223,100 shares from the previous period [5] Group 5: Strategic Highlights - Citic Publishing maintained a market share of 3.06% in the national book retail market in the first half of 2025, ranking first among individual publishers, with leading positions in several core categories, including anime and gaming books [6] - The company accelerated its digital publishing efforts, adding over 220 enterprise-level knowledge service clients in the first half of 2025, and its Citic Academy App achieved over 130 million content dissemination [6] - The company is enhancing consumer integration through improved product selection and user engagement in its bookstores, with plans for new store openings and IP retail trials [6] - Projected net profits for 2025-2027 are 171 million, 192 million, and 212 million yuan, with corresponding EPS of 0.90, 1.01, and 1.11 yuan, and current stock prices reflecting PE ratios of 34, 31, and 28 times [6]

（股份代號：811） 海外監管公告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 新華文軒出版傳媒股份有限公司 XINHUA WINSHARE PUBLISHING AND MEDIA CO., LTD. （於中華人民共和國註冊成立之股份有限公司） 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列新華文軒出版傳媒股份有限公司在上海證券交易所網站( www.sse.com.cn ) 發佈的《新華文軒出版傳媒股份有限公司2025年第三季度報告》《新華文軒出版傳 媒股份有限公司第五屆董事會2025年第六次會議決議公告》《新華文軒出版傳媒 股份有限公司第五屆監事會2025年第四次會議決議公告》《新華文軒出版傳媒股份 有限公司關於變更經營範圍、取消監事會、修訂《公司章程》及部分治理制度的公 告》《新華文軒出版傳媒股份有限公司2025年半年度權益分派實施公告》，僅供參 閱。 承董事會命 新華文軒出版傳媒股份有限公司 董事長 周青 ...

中国科技出版传媒股份有限公司（以下简称"公司"）根据《上海证券交易 所上市公司自律监管指引第 3 号——行业信息披露》（第十一号——新闻出版） 的相关规定，现将 2025 年 1-9 月主要经营数据（未经审计）公告如下： 一、 图书业务 二、 期刊业务 单位：万元 | 项目 | 期刊发行量 | 已确认服务 | 已确认广告 | 已签订广告订 | 广告违法违纪 | | --- | --- | --- | --- | --- | --- | | | (万册） | 收入 | 收入 | 单额 | 处罚情况 | | 期刊业务 | 67.68 | 11,200.74 | 154.68 | 174.95 | 无 | | （1-9 月） | | | | | | 证券代码：601858 证券简称：中国科传 公告编号：2025-058 中国科技出版传媒股份有限公司 2025 年 1-9 月主要经营数据的公告 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个别及连带责任。 注：上述数据为初步统计数据，可能与公司定期报告披露的相关数据存在差 异，仅供各位投资者参 ...

Market Overview - The publishing sector experienced a decline of 1.57% on the trading day, with Zhongyuan Media leading the drop [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Individual Stock Performance - Longban Media (605577) saw an increase of 3.49%, closing at 14.25 with a trading volume of 170,100 shares and a turnover of 242 million [1] - Zhongyuan Media (000719) reported a significant decline of 5.22%, closing at 11.99 with a trading volume of 204,500 shares and a turnover of 250 million [2] - Phoenix Media (601928) decreased by 4.02%, closing at 10.03 with a trading volume of 515,900 shares and a turnover of 519 million [2] Capital Flow Analysis - The publishing sector experienced a net outflow of 308 million from institutional investors, while retail investors saw a net inflow of 151 million [2] - The main capital inflow and outflow for selected stocks indicate varied investor sentiment, with Zhongnan Media (601098) showing a net outflow of 23.05 million from institutional investors [3] Summary of Trading Data - The trading data for various stocks in the publishing sector reflects mixed performance, with some stocks like Longban Media showing gains while others like Zhongyuan Media and Phoenix Media faced significant losses [1][2] - The overall trading volume and turnover in the sector indicate active trading, with notable figures such as 2.50 billion for Zhongyuan Media and 5.19 billion for Phoenix Media [2]

Core Insights - The company reported a third-quarter revenue of 3.356 billion yuan, representing a year-on-year increase of 30.55% [1] - The net profit for the third quarter was 573 million yuan, showing a significant year-on-year growth of 166.86% [1] - For the first three quarters, the total revenue was 8.366 billion yuan, which reflects a year-on-year decline of 1.75% [1] - The net profit for the first three quarters reached 1.243 billion yuan, marking a year-on-year increase of 28.28% [1]

Group 1 - The core point of the news is the decline in the stock price of Zhongyuan Media, which fell by 5.06% to 12.01 yuan per share, with a trading volume of 158 million yuan and a turnover rate of 1.91%, resulting in a total market capitalization of 12.289 billion yuan [1] - Zhongyuan Media, established on December 19, 1996, and listed on March 31, 1997, is primarily engaged in the publishing, printing, distribution of books and electronic audio-visual products, and material trade [1] - The revenue composition of Zhongyuan Media includes distribution business at 44.66%, publishing business at 18.92%, and material sales at 10.76%, with detailed breakdowns provided for each segment [1] Group 2 - From the perspective of major fund holdings, one fund under Yinhua Fund has a significant position in Zhongyuan Media, with Yinhua Yuli Mixed Initiation Fund (005848) holding 156,700 shares, accounting for 2.29% of the fund's net value, making it the third-largest holding [2] - The Yinhua Yuli Mixed Initiation Fund has a total scale of 80.8228 million yuan, with a year-to-date return of 7.98% and a ranking of 6331 out of 8152 in its category [2] - The fund has experienced a floating loss of approximately 100,300 yuan as of the latest report [2]

Core Insights - The company reported a total revenue of 1.241 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 2.90% [1] - The net profit attributable to shareholders reached 161 million yuan, showing a significant year-on-year increase of 23.61% [1] - The net profit after deducting non-recurring gains and losses was 154 million yuan, reflecting a year-on-year growth of 14.42% [1] - The net cash flow from operating activities amounted to 102 million yuan, with a remarkable year-on-year increase of 349.30% [1]

Core Insights - The report highlights the deepening penetration of artificial intelligence (AI) in the global publishing industry, which is becoming a key variable in driving industrial structure upgrades and efficiency reshaping [1][2] - AI is reshaping roles within publishing, enabling business expansion, and driving service innovation to enhance user experience and content delivery efficiency [1][2] Group 1: AI's Role in Publishing - AI is taking on multiple roles in the publishing process, including editor, author, illustrator, reviewer, and translator, while also creating new professions such as AI ethics consultant and AI trainer [1] - The collaboration between companies like Bertelsmann and OpenAI is enhancing content production capabilities, while Amazon's Audible is reshaping audiobooks through proprietary end-to-end AI production technology [2] Group 2: Challenges and Recommendations - The report identifies challenges such as data illusion, privacy risks, and academic integrity issues, which vary across different publishing groups due to business areas and ethical considerations [2] - Recommendations include accelerating the improvement of copyright laws related to AI-generated content, introducing technologies like blockchain for content traceability, and cultivating a new generation of publishers with skills in digital technology, AI application, and data analysis [2]

Core Insights - The company reported a total revenue of 1.622 billion yuan for Q3 2025, ranking 10th among peers, which is a decrease of 309 million yuan or 16.02% year-on-year [1] - The net profit attributable to shareholders was 31.3654 million yuan, ranking 16th among peers, reflecting a decline of 101 million yuan or 76.22% year-on-year [1] - The net cash inflow from operating activities was 27.0092 million yuan, ranking 10th among peers, showing an increase of 9.8258 million yuan or 57.18% year-on-year [1] Financial Ratios - The latest debt-to-asset ratio is 24.68%, ranking 6th among peers, which is a decrease of 0.13 percentage points from the previous quarter and a decrease of 2.05 percentage points year-on-year [3] - The latest gross profit margin is 21.39%, ranking 19th among peers, down by 2.46 percentage points from the previous quarter and down by 6.55 percentage points year-on-year [3] - The latest return on equity (ROE) is 0.99%, ranking 19th among peers, which is a decrease of 3.10 percentage points year-on-year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is 0.05 yuan, ranking 18th among peers, which is a decrease of 0.15 yuan or 76.20% year-on-year [3] - The latest total asset turnover ratio is 0.38 times, ranking 5th among peers, which is a decrease of 0.05 times year-on-year [3] - The latest inventory turnover ratio is 2.04 times, ranking 16th among peers, down by 0.08 times year-on-year [3] Shareholder Information - The number of shareholders is 30,500, with the top ten shareholders holding 434 million shares, accounting for 65.64% of the total share capital [3] - The largest shareholder is Qingdao Publishing Group Co., Ltd., holding 56.6% of shares [3]

Core Points - The company guarantees the authenticity, accuracy, and completeness of the information disclosed in its quarterly report, with no false records, misleading statements, or significant omissions [2][12][14] - The third-quarter financial report has not been audited [3][6] - The board of directors and the supervisory board have approved the third-quarter report, confirming that it reflects the company's actual operating conditions accurately [8][14] Financial Data - The company has not made any retrospective adjustments or restatements of previous accounting data [3] - There are no non-recurring profit and loss items applicable for the reporting period [3] - The company has not identified any significant changes in major accounting data and financial indicators [4][5] Shareholder Information - The total number of ordinary shareholders and the situation of the top ten shareholders have not changed due to any securities lending activities [5] Meeting Details - The fifth board of directors' thirty-third meeting was held on October 29, 2025, with all nine directors present, and the meeting complied with relevant regulations [6][9] - The supervisory board's twentieth meeting was also held on October 29, 2025, with all four supervisors present, adhering to legal and regulatory requirements [13][15]