Meeting Overview - The fifth meeting of the fifth board of directors of Xinhua Wenhui Publishing Media Co., Ltd. was held on August 27, 2025, in Chengdu, with all 9 directors present [1][2]. Financial Report - The board approved the 2025 semi-annual financial report, which was reviewed by the audit committee on August 25, 2025 [1][2]. - The company reported a net profit attributable to shareholders of RMB 857 million for the first half of 2025, with undistributed profits amounting to RMB 6.052 billion as of June 30, 2025 [3][4]. Governance Compliance - The board reviewed and approved the compliance with corporate governance rules, as outlined in the semi-annual report [2][3]. Profit Distribution Proposal - A cash dividend proposal was approved, amounting to approximately RMB 234.43 million (including tax), to be distributed based on the profits reported [3][4]. Fund Utilization Report - The board approved a special report on the storage and actual use of raised funds, in accordance with regulatory requirements [4][5]. Special Action Evaluation - An evaluation report on the "Quality Improvement, Efficiency Enhancement, and Return" special action plan was approved by the board [4][5]. Shareholder Meeting Proposal - The board proposed to convene the first extraordinary general meeting of 2025 to review the profit distribution proposal [5].

Meeting Overview - The third meeting of the fifth Supervisory Board of Xinhua Wenhui Publishing Media Co., Ltd. was held on August 27, 2025, in Chengdu, combining on-site and communication methods, with all six supervisors present [1] Financial Report Approval - The Supervisory Board approved the 2025 semi-annual financial report, which was reviewed by the Board of Directors on the same day, confirming that it was prepared in accordance with Chinese accounting standards and accurately reflects the company's actual situation [1][2] Semi-Annual Report Approval - The Supervisory Board also approved the 2025 semi-annual report and its summary, affirming that the report complies with relevant laws, regulations, and internal management systems, and accurately reflects the company's status [2] Profit Distribution Proposal - The Supervisory Board approved the profit distribution proposal for the first half of 2025, stating that it aligns with the company's actual situation and regulatory requirements, and is beneficial for the company's sustainable development [3] Fund Usage Report - The Supervisory Board approved the special report on the storage and actual use of raised funds, confirming compliance with regulations and that the funds were stored in dedicated accounts and used for designated purposes without any violations [4]

单位：万元 | | | 销售码洋 | | 营业收入 | | | 营业成本 | | | | 毛利率（%） | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 项 目 | | | 增长 | | | 增长 | | | 增长 | 去年同 | | 增 长 | | | 去年同期 | 本期 | 率% | 去年同期 | 本期 | 率% | 去年同期 | 本期 | 率% | 期 | 本期 | 率 | | | | | | | | | | | | | | 增 | | 一 | | | | | | | | | | | | 长 | | 般 | | | | | | | | | | | | 1.83 | | 图 | 357,844.96 | 323,348.87 | -9.64 | 129,046.97 | 109,075.94 | -15.48 | 82,931.66 | 68,102.50 | -17.88 | 35.74 | 37.56 | 个 | | 书 | | | | | | | | | | | | 百 | | ...

Group 1 - The company's operating revenue for the first half of 2025 is 2.098 billion yuan, representing a year-on-year decrease of 14.94% [1] - The net profit for the same period is 133 million yuan, showing a year-on-year decline of 14.89% [1]

Core Viewpoint - Reader Media (603999) reported a decline in revenue for the first half of 2025, while net profit increased due to favorable tax policies [1] Financial Performance - The company achieved operating revenue of 415 million yuan, a year-on-year decrease of 23.73% [1] - The net profit attributable to shareholders was 38.6047 million yuan, reflecting a year-on-year increase of 12.67% [1] - Basic earnings per share were reported at 0.067 yuan [1] Business Strategy - The decline in operating revenue was primarily due to the company's divestment of businesses with low relevance to its core operations [1] - The increase in net profit was largely attributed to changes in tax policies for cultural enterprises, allowing the company to continue benefiting from income tax exemptions, resulting in a significant reduction in tax expenses year-on-year [1]

读者传媒公告，2025年上半年营业收入4.15亿元，同比下降23.73%。净利润3860.47万元，同比增长 12.67%。 ...

新华文轩公告，2025年上半年营业收入55.27亿元，同比下降4.50%。净利润8.57亿元，同比增长 19.66%。拟以总股本12.34亿股为基数，向股东每股派发现金股利0.19元（含税），共计支付现金股利 2.34亿元（含税）。 ...

Group 1 - The company reported a revenue of HKD 1.094 billion for the six months ending June 30, 2025, representing a year-on-year decrease of 12.99% [1] - The profit attributable to the company's owners was HKD 76.043 million, down 3.86% year-on-year, with basic earnings per share at HKD 0.1013 [1] - The decline in revenue was primarily attributed to a weak global illustrated book market and the impact of reciprocal tariffs imposed by the Trump administration, which led to a shift in global supply chains [1] Group 2 - The decrease in profit attributable to owners was mainly due to a decline in revenue and profit contributions from Regal and Quarto [1] - The company proposed an interim dividend of HKD 0.03 per ordinary share [1]

Core Points - The sixth meeting of the Supervisory Board of Zhongnan Publishing and Media Group Co., Ltd. was held on August 26, 2025, via communication methods, with all five supervisors participating in the voting process [1][2] - The Supervisory Board approved the 2025 semi-annual report and its summary, confirming that the preparation and review procedures comply with relevant laws, regulations, and the company's articles of association [1][2] - The board also approved a special report on the storage and actual use of raised funds for the first half of 2025, with unanimous support from all supervisors [2] - Additionally, the board reviewed and approved the risk assessment report for Hunan Publishing Investment Holding Group Financial Co., Ltd. for the first half of 2025, again with unanimous approval [2]

Core Viewpoint - The investment management system of Zhongnan Publishing and Media Group Co., Ltd. aims to enhance investment management, ensure compliance with legal processes, control investment risks, and achieve expected investment outcomes [1][2]. Investment Management Overview - The term "investment" refers to economic activities conducted by Zhongnan Media and its subsidiaries through cash, physical assets, or intangible assets to achieve expected operational returns [1]. - Investment management encompasses pre-investment evaluation, ongoing management, and post-investment management of various investment activities [1]. Principles of Investment Management - Investments must comply with national laws, relevant industrial policies, and the company's strategic development goals, focusing on core business and creating value [2]. - A centralized management approach is adopted for all investment activities, ensuring that investment plans align with annual financial budgets [2]. - Strict measures are implemented to minimize risks associated with investments, aiming for maximum investment returns [2]. Management Structure and Responsibilities - Investment decisions are made by the shareholders' meeting, board of directors, and chairman within their authority [3]. - The investment management department is responsible for formulating and implementing investment strategies, reviewing investment projects, and overseeing post-investment management [4]. Investment Project Approval Process - The project selection process involves information collection, preliminary review, and submission of pre-review opinions to relevant leaders [4][5]. - After initial analysis, project units submit project establishment applications for approval according to their authority [5]. - Due diligence is conducted on approved projects, involving financial, legal, and business assessments [5]. Investment Classification Management - Investment management is categorized into professional investment company management, equity investment management, financial investment management, fixed asset investment management, and major research and development project management [6][8]. - Specific investment limits are set for different subsidiaries, with varying approval requirements based on the investment amount [8][9]. Risk Control Measures - A comprehensive risk control system is established to minimize investment risks, including regular guidance from headquarters to subsidiaries [10]. - Specialized risk control committees or departments are required for professional investment companies to oversee investment safety and risk management [10]. Post-Investment Management - The implementation of investment projects is the responsibility of the project unit, which must track progress and report on performance [12]. - A post-investment evaluation system is established to assess the effectiveness of investment projects, with evaluations conducted at specified intervals [15]. Investment Project Disposal and Exit - The company may dispose of or exit investment projects under specific circumstances, such as the completion of the investment period or significant changes in market conditions [17]. - The procedures for disposal and exit align with the approval processes for initial investments [17]. Information and Document Management - An investment management information system is established to monitor and analyze investment plans, project progress, and returns [25]. - Confidentiality is maintained for major investment project information until officially disclosed [26].