Core Viewpoint - Zhejiang Publishing Media Co., Ltd. (Zhejiang Media) reported a significant increase in revenue and net profit for the first half of 2025, indicating strong performance and growth in the publishing industry [1][2]. Financial Performance - The company achieved an operating income of 5.093 billion yuan and a net profit attributable to shareholders of 676 million yuan, representing a year-on-year growth of 33.5% [1]. - A cash dividend of 1 yuan per 10 shares (including tax) is proposed, totaling 222 million yuan, which accounts for 32.87% of the net profit [1]. Business Operations - Zhejiang Media focuses on publishing, printing, distribution, and retail of various media, including books, journals, and digital publications, while integrating new business models such as digital marketing and online education [1]. - The company has made significant progress in its publishing business, with a new book market share increase to 1.97% [1]. Distribution and Digital Transformation - The company is optimizing its online and offline distribution systems, with a 15% revenue increase for its subsidiary, Zhejiang Xinhua Bookstore Group, and an 18% growth in the online segment [2]. - Zhejiang Media is advancing its digital transformation by collaborating on AI applications in publishing, enhancing content production efficiency [2]. Product Innovation and Investment - The company has accelerated its digital publishing initiatives, adding over 20,000 digital resources and obtaining 27 new game licenses in the first half of the year [2]. - Zhejiang Media is actively investing in the "culture + technology" sector, participating in private equity investments in various promising projects [3].

Meeting Summary - The third meeting of the Supervisory Board of Zhejiang Publishing Media Co., Ltd. was held on April 11, 2025, with all three supervisors present [1][3] - The meeting approved the proposal to adjust the internal investment amount for the Torch Knowledge Service Platform construction project [2][3] Investment Adjustment - The company announced an adjustment to the internal investment amount for the Torch Knowledge Service Platform construction project while maintaining the project’s implementation subject, investment purpose, and total investment amount unchanged [5][8] - The adjustment is based on a reassessment of the project’s feasibility and aims to optimize resource allocation and improve the efficiency of fund usage [7][8] Fundraising Overview - The company raised a total of RMB 228,444.45 million through the issuance of 22,222.2223 million shares at a price of RMB 10.28 per share, with a net amount of RMB 220,650.49 million after deducting various fees [6] Board Meeting Decisions - The third meeting of the Board of Directors also took place on April 11, 2025, where the proposal for the adjustment of the internal investment amount was approved unanimously [12][15] - Additionally, the Board approved the "Quality Improvement and Efficiency Enhancement Return Plan" [16][20] Quality Improvement and Efficiency Enhancement Plan - The plan focuses on enhancing operational quality by concentrating on key elements such as publishing, bookstores, digital integration, and team building [20] - The company aims to maintain a stable dividend policy, having distributed a total of RMB 23.56 billion in dividends over the past three years, with annual cash dividends exceeding 50% of net profit [21] Digital Empowerment Strategy - The company is committed to advancing digital publishing integration and plans to leverage technologies like AI and big data to enhance production capabilities [22] - The establishment of the "Torch Knowledge Service" platform is part of the strategy to expand digital reading applications and improve resource allocation [22] Governance and Compliance - The company emphasizes the importance of transparent information disclosure and has increased communication with investors through various channels [24] - It is focused on strengthening its governance structure and compliance management to ensure effective decision-making and risk management [25][26]