每经记者｜胥帅 每经编辑｜陈柯名 廖丹 在西贝预制菜事件中，因为与罗永浩的论战，"华与华"以及创始人华楠、华杉被推上风口浪尖。华楠、华杉两兄弟其实还有一家上市公司，它就是读客文 化（SZ301025，股价10.2元，市值40.83亿元）。 12月22日晚间，读客文化公告称，控股股东及实际控制人华楠、华杉通知，其正在筹划公司控制权变更相关事宜。尽管停牌时间是12月22日，但在前一个 交易日，公司股价放量上涨超5%。 在此之前，华楠、华杉的一致行动人已经有减持行为，自年初至今，套现已超1亿元。 图片来源：视觉中国 一致行动人年初开始减持 12月22日晚间，读客文化公告称，于12月19 日收到控股股东及实际控制人华楠、华杉通知，其正在筹划公司控制权变更相关事宜，具体方案以各方签署 的相关协议为准。上述事项的具体方案尚在筹划中，尚未签署正式协议，具有不确定性。公司股票自2025年12月22日开市起停牌，预计停牌时间不超过2 个交易日。 不过早在12月22日开市前，深交所已发布停牌公告。为何深交所的停牌公告披露时间早于读客文化？上海新古律师事务所王怀涛律师向记者表示，这种情 况是交易所与上市公司分工不同，交易所如果发现 ...

红星资本局12月23日消息，曾经在西贝预制菜风波时跟罗永浩互怼过的知名大V"华与华"兄弟（华楠、华杉），要卖上市公司控股权了。 公告表示，本次交易事项的具体方案尚在筹划中，尚未签署正式协议，存在不确定性。公司股票已自12月22日开市起停牌，预计停牌时间不超过2个交易 日。 此次控制权变更筹划，恰逢华楠、华杉兄弟深陷多重争议之际。今年9月以来，作为华与华营销咨询核心创始人的兄弟二人，因西贝"预制菜风波"与罗永 浩爆发持续争端。华与华作为西贝长期品牌顾问，公开支持西贝立场，引发罗永浩公开指责其"煽动对立"。 据报道，虽华杉曾私下向罗永浩道歉暂歇争端，但11月华杉发文称西贝"被人算计"的言论，再度激化矛盾，罗永浩连发多条言论质问并威胁公布录音，截 至目前相关录音尚未公开，争议仍未平息。 图据视觉中国 目前，华楠和华杉兄弟共持有公司超过70%的股权，是公司实际控制人。华楠现任读客文化董事长、总经理、总编辑，同时还担任华与华营销咨询监事、 华与华品牌咨询监事、宁波读客执行董事等职。 值得注意的是，在控制权变更筹划之前，今年以来，华楠和华杉通过一致行动人宁波读客企业已多次减持公司股份。 公开信息显示，二人共同控制的宁波读 ...

读客文化 此次控制权变更筹划，恰逢华楠、华杉兄弟深陷多重争议之际。今年9月以来，作为华与华营销咨询核 心创始人的兄弟二人，因西贝"预制菜风波"与罗永浩爆发持续争端。华与华作为西贝长期品牌顾问，公 开支持西贝立场，引发罗永浩公开指责其"煽动对立"。 虽华杉曾私下向罗永浩道歉暂歇争端，但11月华杉发文称西贝"被人算计"的言论，再度激化矛盾，罗永 浩连发多条言论质问并威胁公布录音，截至目前相关录音尚未公开，争议仍未平息。 智通财经记者 戴高城 12月22日，读客文化（301025.SZ）的一纸停牌公告，将华楠、华杉兄弟推上资本风口。公告显示，公 司于12月19日收到控股股东及实际控制人华楠、华杉通知，二人正筹划公司控制权变更相关事宜，具体 方案以各方签署的正式协议为准。由于事项尚处于筹划阶段，存在不确定性，公司股票已自12月22日开 市起停牌，预计停牌时间不超过2个交易日。 视觉中国 资料图 公开信息显示，二人共同控制的宁波读客企业管理合伙企业（有限合伙），于今年5月完成累计1119.09 万股的减持，套现金额达1.03亿元；11月又通过询价转让方式减持410.82万股，转让价格为8.37元/股， 套现3438.5 ...

12月22日盘后，读客文化（301025.SZ）发布公告称，公司收到控股股东及实际控制人华楠、华杉的通 知，其正在筹划公司控制权变更的相关事宜。为保证公平信息披露，避免股价异常波动，公司股票已自 12月22日开市起停牌，预计停牌时间不超过2个交易日。本次交易的具体方案尚在筹划中，尚未签署正 式协议，存在不确定性。 公开资料显示，读客文化由华楠、华杉兄弟旗下的华与华于2006年投资成立，主营业务为图书策划与发 行，2021年在创业板上市。截至2025年三季度末，华楠直接持有读客文化约41.03%股份，华杉持股 29.58%，二人为一致行动人，也是公司实控人。 值得注意的是，此次筹划控制权变更的华楠、华杉兄弟，更为人熟知的身份是知名营销咨询公司"华与 华"的创始人。而就在不久前，二人还因深度卷入一场网络论战而成为舆论焦点。 此前9月，知名企业家罗永浩在微博吐槽西贝餐饮"几乎全是预制菜还那么贵"，将西贝推向舆论风口。 作为西贝长期合作的品牌战略顾问公司，华与华创始人华杉随即在社交平台发文力挺客户，多次将罗永 浩描述为"网络黑嘴"，并表示支持西贝创始人贾国龙"硬杠"。 这场争论迅速升级。9月14日，罗永浩在直播中公开 ...

12月22日盘后，读客文化（301025.SZ）发布公告称，公司收到控股股东及实际控制人华楠、华杉的通知，其正在筹划公司控制 权变更的相关事宜。为保证公平信息披露，避免股价异常波动，公司股票已自12月22日开市起停牌，预计停牌时间不超过2个交 易日。本次交易的具体方案尚在筹划中，尚未签署正式协议，存在不确定性。 公开资料显示，读客文化由华楠、华杉兄弟旗下的华与华于2006年投资成立，主营业务为图书策划与发行，2021年在创业板上 市。截至2025年三季度末，华楠直接持有读客文化约41.03%股份，华杉持股29.58%，二人为一致行动人，也是公司实控人。 值得注意的是，此次筹划控制权变更的华楠、华杉兄弟，更为人熟知的身份是知名营销咨询公司"华与华"的创始人。而就在不 久前，二人还因深度卷入一场网络论战而成为舆论焦点。 此前9月，知名企业家罗永浩在微博吐槽西贝餐饮"几乎全是预制菜还那么贵"，将西贝推向舆论风口。作为西贝长期合作的品牌 战略顾问公司，华与华创始人华杉随即在社交平台发文力挺客户，多次将罗永浩描述为"网络黑嘴"，并表示支持西贝创始人贾 国龙"硬杠"。 这场争论迅速升级。9月14日，罗永浩在直播中公开喊话 ...

Core Viewpoint - The article discusses the ongoing public relations conflict between Luo Yonghao and the marketing firm Hua Yu Hua, highlighting the potential impact on the firm's reputation and future in the industry due to Luo's ultimatum for a public apology [1][45][51]. Group 1: Company Background - Hua Yu Hua has been a leading player in the brand consulting industry for over 20 years, with notable clients including "Xue Wang," "New Oriental," "Hai Di Lao," and "Zu Li Jian" [2][4]. - The firm charges high consulting fees, with individual company fees reaching up to 6 million [4]. - The founders, brothers Hua Shan and Hua Nan, have achieved significant recognition, with Hua Shan winning the China Outstanding Marketing Gold Award three times [6][10]. Group 2: Company Achievements - The company has been instrumental in the success of various brands, including the explosive growth of Tianqi toothpaste, which became a well-known trademark with annual sales reaching 1 billion [35][37]. - In 2021, the firm helped launch Read Culture, which saw its stock price surge by nearly 20 times on its first day of trading, setting multiple records in the A-share market [8][43]. Group 3: Current Conflict - The conflict began when Luo Yonghao set a deadline for Hua Yu Hua to publicly apologize, threatening to expose damaging information if they failed to comply [1][48]. - The situation escalated after Hua Shan publicly supported a controversial figure, leading to backlash and further scrutiny of Hua Yu Hua's marketing strategies [45][49]. - As of the article's publication, Hua Yu Hua had not issued an apology, leaving the outcome of the conflict uncertain [51].

Core Viewpoint - The recent performance of Reader Culture (读客文化) has been disappointing, with significant declines in revenue and profit, raising concerns about its business model and market strategy [1][2][6]. Group 1: Financial Performance - In the first half of 2025, Reader Culture reported revenue of 168 million yuan, a year-on-year decline of 15.38%, and a net profit of only 3.18 million yuan, down 57.76% [2]. - The company's market position has deteriorated, dropping from the second largest in 2021 to the lowest among its peers by mid-2025 [2][4]. - Reader Culture's gross margin fell to 32.4% in the first half of 2025, the lowest among its competitors [10][12]. Group 2: Market Challenges - The overall book retail market saw a slight growth of 0.73% in pricing but a decline of 0.31% in actual sales, indicating a challenging environment for all players [6]. - Reader Culture's sales of physical books decreased by 27.28% in terms of pricing and 19.33% in revenue [6]. Group 3: Strategic Issues - The company attributed its performance issues to "declining channel traffic," a claim that has been met with skepticism from industry analysts who argue that all companies face similar challenges [7]. - Despite increasing its sales expenses by 24% to 22.58 million yuan in the first half of 2025, including a near doubling of e-commerce promotion costs, Reader Culture failed to halt its revenue decline, suggesting deeper issues with its marketing strategy [7]. Group 4: Product Development - Reader Culture's "creative assembly line" approach, which previously yielded success, has seen a significant drop in new book releases, with only 55 new titles launched in the first half of 2025, a nearly 40% decrease from the previous year [9]. - The lack of appealing new titles has been identified as a critical factor in the company's struggles, indicating a potential "content anxiety" rather than merely a "traffic anxiety" [9]. Group 5: Management Changes - Recent management changes, including the resignation of the general manager while retaining the chairman position, may impact the company's strategic direction [13].

Core Viewpoint - The article discusses the challenges faced by DuKe Culture, a company that once thrived on a "production line" strategy for book publishing, which is now failing to adapt to changing market dynamics and consumer preferences [4][14][19]. Group 1: Company Overview - DuKe Culture was founded in 2009 and is known for its unique approach to book publishing, which includes a "production line" strategy inspired by the marketing firm Hua Yu Hua [6][9]. - The company gained recognition with bestsellers like "The Bloodied Official Career" and "The Secret of the Tibetan Land," with the latter selling 5.8 million copies by the end of 2020 [8][19]. Group 2: Financial Performance - Since its IPO in 2021, DuKe Culture has experienced a continuous decline in revenue, with a reported revenue of 170 million yuan and a net profit of 6.126 million yuan in the first half of 2025, both showing year-on-year declines [15][20]. - The company's reliance on physical book sales, which accounted for over 80% of its revenue, has proven vulnerable, with a nearly 20% decline in this segment [20][22]. Group 3: Market Challenges - The overall book retail market has seen a significant contraction, with a 27.28% year-on-year decline in the first half of 2025 [22]. - DuKe Culture's market share is relatively low, with a 0.77% share in terms of code volume and 0.85% in actual sales volume as of 2024 [24]. Group 4: Competitive Landscape - The publishing industry is highly fragmented, with numerous competitors, including large publishing houses and agile marketing-focused companies like Guomai Culture and MoTie Group [22][25]. - DuKe Culture has struggled to keep pace with competitors who have successfully leveraged new marketing strategies, such as live-streaming sales, which have significantly outperformed DuKe's efforts [20][22]. Group 5: Future Outlook - The company is exploring new avenues, including digital content, but faces challenges in monetization and scaling, as its digital revenue remains low at under 30 million yuan [20][22]. - DuKe Culture's stock price has plummeted over 70% from its peak at the time of listing, leading to a market capitalization loss exceeding 10 billion yuan, indicating a loss of investor confidence [28].