Core Points - The company announced a cash dividend of 0.5 CNY per share for its A shares, totaling 1,272,450,000 CNY to be distributed to shareholders [1][2] Related Dates - The key dates for the dividend distribution are as follows: - Record date: July 8, 2025 - Last trading date: July 9, 2025 - Ex-dividend date: July 9, 2025 [2] Distribution Implementation - The cash dividends will be distributed through China Securities Depository and Clearing Corporation Limited Shanghai Branch to shareholders registered by the record date. Shareholders who have designated trading can receive their cash dividends on the payment date, while those without designated trading will have their dividends held until they complete the necessary procedures [2][5] - For individual shareholders holding shares for over one year, the cash dividend is exempt from personal income tax. For those holding shares for one year or less, the tax will be calculated upon the transfer of shares [2][3] Taxation for Foreign Investors - Qualified Foreign Institutional Investors (QFII) will have a withholding tax of 10% applied, resulting in a net cash dividend of 0.45 CNY per share [3] - For Hong Kong investors, a similar 10% withholding tax applies, with the same net cash dividend of 0.45 CNY per share, unless they apply for tax treaty benefits [4] Other Institutional Investors - Other institutional investors and corporate shareholders will not have taxes withheld by the company, and the actual cash dividend remains at 0.50 CNY per share [5]

Meeting Overview - The first extraordinary general meeting of shareholders for China Science Publishing & Media Co., Ltd. is scheduled for July 10, 2025, at 14:30 in Beijing [3] - The meeting will be presided over by Chairman Hu Huaqiang, and the agenda includes announcing the meeting's start, electing representatives for vote counting, discussing and voting on agenda items, and concluding with a legal opinion from the witnessing lawyer [3] Voting Procedures - Shareholders must choose either on-site or online voting and cannot vote multiple times; if a shareholder has registered but does not vote, it will be considered an automatic waiver of voting rights [3] - The meeting will not allow for additional speeches after the voting process begins, and any disruptive behavior will be addressed by staff [2][3] Agenda Items - Proposal One: Replacement of a Director - Wang Yuan is nominated as a candidate for the board of directors, with his term starting from the approval date of the shareholders' meeting until the end of the current board's term [4] - Zhang Li will continue to fulfill her duties as a director until a new director is elected due to her work transfer [4] - Proposal Two: Replacement of a Supervisor - Wang Guoxing is nominated as a candidate for the supervisory board, with his term starting from the approval date of the shareholders' meeting until the end of the current supervisory board's term [5]

麦格劳希尔曾于2015年申请上市，但后来在2018年撤回了这一申请。2019年，麦格劳希尔表示将与另一美国教育出版商圣智 （Cengage）全资合并，但在一年后，两家公司宣布终止原有合并计划。这笔交易本来可以使合并后的公司成为美国第二大 教科书出版商，但最终落空。 在交易失败的一年后，麦格劳希尔再度易主，被Platinum Equity以45亿美元从Apollo Global Management手中买下。被收购后 的四年后，麦格劳希尔再次踏上了上市之路。 据路透社报道，当地时间6月27日，老牌教育出版商麦格劳希尔（McGraw Hill）申请在纽交所IPO，交易代码为"MH"。高盛 为主承销商。 麦格劳希尔表示，此次IPO的收益将用于偿还债务。根据披露的数据，截至3月31日的财年中，麦格劳希尔的收入为21亿美 元，同比增长7%；净亏损8580万美元，去年同期为1.93亿美元。 这并不是麦格劳希尔第一次申请上市。 麦格劳希尔成立于1888年，总部位于美国，主要提供教育服务和教材，其产品分布于美洲、亚太、欧洲、印度和中东的100 多个国家。 2013年，Apollo Global Management以24亿美 ...

证券代码：601949 证券简称：中国出版 公告编号：2025-028 中国出版传媒股份有限公司 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 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 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 6 月 30 日 (二)股东会召开的地点：中国出版传媒股份有限公司会议室 (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： 份总数的比例（%） 78.1149 本次股东会由董事长黄志坚先生主持，会议采用现场会议和网络投票相结合 的方式表决，本次会议的召集、召开和表决方式符合《公司法》和《公司章程》 的有关规定。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 审议结果：通过 表决情况： | 股东类型 | | 同意 | | 反对 | | 弃权 | | | | --- | --- | --- | --- | --- | --- | --- | --- ...

Group 1 - The legal opinion letter confirms that the 2024 annual shareholders' meeting of China Publishing Media Co., Ltd. was convened and conducted in accordance with relevant laws and regulations [1][4][16] - The meeting was announced 20 days in advance, including details such as date, time, location, agenda items, voting methods, and record date, complying with legal requirements [3][4] - A total of 6 shareholders and their proxies attended the meeting, representing 1,340,851,445 shares, which is 70.42% of the total shares, indicating a valid quorum [4][5] Group 2 - The meeting allowed for online voting, with 299 shareholders participating, representing 146,431,802 shares, or 7.69% of the total shares [5][6] - The voting process was conducted in accordance with the rules, with results announced immediately after counting [6][8] - The meeting included separate voting for small investors, with 97.1266% voting in favor of the relevant proposals, demonstrating strong support [9][10] Group 3 - The meeting's resolutions included the election of several non-independent and independent directors, all of which were approved by a majority vote [16][17] - The legal opinion concludes that all procedures and results of the shareholders' meeting are valid and comply with the relevant laws and regulations [16][17]

Core Viewpoint - The event highlighted the innovative integration of traditional culture and modern technology through the release of the "Most Beautiful Regular Script" font library and the book series "Daily Writing of Classical Chinese Studies" [1][3][4] Group 1: Book Series Highlights - The book series emphasizes a composite inheritance model of "calligraphy art + classical Chinese studies," aiming to merge classic texts with calligraphy [3] - The first volume introduces a "Daily Eight Characters" learning system, breaking down "Thousand Character Classic" into a 125-day practice plan [3] - The second volume features hard pen versions of "Thousand Character Classic," "Three Character Classic," and "Hundred Family Surnames," designed with the Most Beautiful Regular Script [3][4] Group 2: Font Library Development - The "Most Beautiful Regular Script" font library was created over five years, undergoing 12 iterations and averaging over 10 revisions per character [4][5] - The font combines the essence of Tang regular script with the elegance of small regular script and the fluidity of Han clerical script, achieving a balance between strict structure and visual comfort [4] - The font has been downloaded over 2 million times and is used in various brand mobile systems [5] Group 3: Cultural and Educational Impact - The event included a donation of 100 book sets and 10 font library sets to a Tibetan school, emphasizing the role of these resources in cultural transmission [7] - Experts highlighted the series as a practical example of integrating traditional culture into modern education, particularly for youth [8][10] - The series aims to promote cultural heritage through community and rural school initiatives, making traditional culture a part of daily life [12] Group 4: Industry Voices - Industry leaders noted that the release of the book series and font library aligns with the implementation of cultural policies and educational reforms [8] - The design of the book series is praised for its innovative approach to learning, making the process engaging and effective for students [8][9] - The project is seen as a significant step in the digital transformation of traditional culture, setting a new benchmark for cultural preservation [8][12]

[Table_Page] 投资策略报告|传媒 证券研究报告 | 年中期策略 | [Table_Title] 传媒行业 2025 | | | | --- | --- | --- | --- | | 关注 | | | AI | | | | 产业进展 | | | 紧扣景气度主线，重视确定性资产，乐观 | | | | [Table_PicQuote] 相对市场表现 [分析师： Table_Author]旷实 SAC 执证号：S0260517030002 SFC CE No. BNV294 010-59136610 kuangshi@gf.com.cn 分析师： 廖志国 SAC 执证号：S0260525060001 15201876785 liaozhiguo@gf.com.cn 分析师： 徐呈隽 SAC 执证号：S0260519110002 021-38003663 xuchengjun@gf.com.cn 分析师： 周喆 SAC 执证号：S0260523050003 SFC CE No. BJD408 010-59136890 zhouzhe@gf.com.cn 分析师： 章驰 SAC 执证号：S026052308 ...

应当看到，图书尤其是童书有着重要的文化属性。为此，童书出版社、商家等理应将童书价格控制在合 理区间内，而不能仅仅为了销量和利润，陷入价格竞争，甚至采取不正当竞争手段。家长也该思考，一 本本童书买回家，有多少帮助孩子激发了想象力和创造力，有多少成了"吃灰""压箱底"的摆设，还有多 少则是粗制滥造的盗版书、残次品？ 近日，有调查发现，童书价格"两个极端"现象让家长忧心忡忡：一边是一些"豪华童书"，薄薄一册、寥 寥几页，动辄几十上百元，俨然成了"奢侈品"；另一边是低质低价的童书，不仅涉嫌盗版等问题，还存 在劣质油墨、刺鼻气味等可能危害未成年人身体健康的问题。 "豪华童书买不起，盗版童书满天飞。"为什么童书市场价格乱象愈演愈烈？ 原因是多方面的。一方面，一些商家唯利是图、急功近利，或过度包装、高价炒作，或以低质仿冒图书 侵占市场。另一方面，部分家长陷入育儿焦虑，或把对孩子的爱错误地量化为消费金额，盲目追求高价 童书；或简单地将买书视作对教育的重视，却不注重图书的质量和内容。 如何让童书定价回归合理区间？需要具体来看。出版行业应沉下心来打造优质、性价比高的童书，并推 行透明合理的成本核算与定价体系。经营商家也要摒弃"天 ...

再次，要引领网络文学健康发展新风尚。在这方面，中国青年出版总社的探索颇具借鉴价值：紧扣时代 脉搏，聚焦现实题材与科幻题材，围绕"大国重器""烟火人间""时代强音"等主题，挖掘思想深刻、社会 价值突出的作品，为中国故事的创新表达注入新动能；以"青舟计划"扶持30部作品创作，通过举办改稿 会、创研会等活动，为打磨精品提供深度指导和专业评审，给予网络平台签约、平台推荐、流量扶持和 成果转化等优先权益。 作为出版机构，应以良好信誉提升自身品牌形象，以优质资源聚集带动健康发展。出版机构要实现持 续、健康、高质量发展，需要加强生态化合作与资源共享，从垂直领域深耕到IP全产业链开发，从"编 印发"传统产业链条到数字化资源协同，逐步构建"内容+"资源整合模式。一手抓改革，一手抓创新，统 筹兼顾多措并举，才能不断提升青少年阅读质量。 为此，首先要满足青少年数字阅读文化需求。面对互联网对传统出版的冲击，出版机构应利用数字出版 技术和专业网络平台，打造互动性强、趣味性高的读书产品，发展、丰富适应青少年阅读习惯的阅读形 式，以尊重青少年成长规律的方式，引导他们培养深度阅读习惯。 其次，要运用立体化表达提升传播效能。对出版行业而言，探 ...

Core Viewpoint - The disappearance of book belly bands reflects a significant shift in the publishing industry, transitioning from traditional marketing methods to new media strategies, driven by changing consumer behavior and preferences [3][10][16]. Group 1: Trends in Book Marketing - A survey indicated that only 32% of 400 books in a Beijing bookstore still had belly bands, down from over 70% in previous years, highlighting a clear decline in their prevalence [5][6]. - Online platforms show an even more pronounced trend, with only 10% of the top 50 books on Dangdang featuring belly bands [5][6]. - The publishing industry is moving towards a more streamlined approach, with companies like CITIC Publishing implementing policies to limit the use of belly bands, anticipating a future without them [7][8]. Group 2: Cost and Environmental Impact - The removal of belly bands can save approximately 50 million yuan in printing costs annually, as well as conserve paper resources equivalent to saving 50 million yuan worth of forest [7][8]. - The average cost of producing a belly band is about 0.08 yuan per book, which can be reduced if belly bands are eliminated [7][8]. Group 3: Evolution of Consumer Behavior - The shift from physical bookstores to online purchasing has diminished the effectiveness of traditional marketing tools like belly bands, as consumers now rely on detailed online descriptions and reviews [14][15]. - The rise of social media and e-commerce platforms has transformed book marketing, with influencers and short videos becoming the new norm for promoting books [18][20]. Group 4: Future of the Publishing Industry - The overall book market is projected to decline, with a 5.34% decrease in the first quarter of 2025 compared to the previous year, indicating a broader trend of diminishing physical book sales [23][24]. - Despite the decline in physical books, the demand for reading and content remains strong, suggesting that the industry may evolve rather than disappear entirely [24].