（股份代號：811） 海外監管公告 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年年度報告》《新華文軒出版傳媒股 份有限公司2025年年度報告摘要》《新華文軒出版傳媒股份有限公司第五屆董事會 2026年第四次會議決議公告》《新華文軒出版傳媒股份有限公司2025年度利潤分配 建議方案暨關於貫徹落實「提質增效重回報」專項行動的公告》《新華文軒出版傳 媒股份有限公司關於聘任本公司2026年度會計師事務所及內控審計機構的公告》 《新華文軒出版傳媒股份有限公司關於2025年度募集資金存放、管理與實際使用 情況的專項報告》《新華文軒出版傳媒股份有限公司2025年度環境、社會及管治報 告摘要》《新華文軒出版傳媒股份有限公司2025年度環境、社會及管治報告》《新 華文軒出版傳媒股份有限公司2025年度獨立董事述職報告（劉子斌）》《新華文軒 出版傳媒股份有限公司2025年度獨立董事述職報告（鄧富民）》《新華文軒出版傳 媒股份有限公司2025年度獨立董事述職報告（韓文 ...

Core Viewpoint - The article discusses the contrasting experiences and values of electronic reading versus physical book reading, emphasizing the benefits of both formats while highlighting the importance of a balanced approach to reading in the digital age [1][4]. Group 1: Electronic Reading - Electronic reading offers convenience and efficiency, allowing for easy browsing and information retrieval, which enhances reading speed and accessibility [1][4]. - The integration of artificial intelligence in reading software provides features like one-click summarization and hyperlinking, further improving the reading experience [1]. - The completion rate for electronic books is significantly lower, with only 15% of read books being finished, indicating a tendency towards exploration rather than thorough reading [2]. Group 2: Physical Book Reading - Physical books have a much higher completion rate of at least 95%, suggesting that they encourage readers to finish what they start [2]. - The tactile experience of physical books fosters a deeper engagement with the material, making it easier to digest complex ideas and themes [2][3]. - The physicality of books serves as a reminder of their value and scarcity, promoting a more active and thoughtful reading process [3]. Group 3: Balanced Approach - A dual approach to reading, utilizing both electronic and physical formats, is advocated to maximize learning and retention [4]. - The practice of selecting and investing time in physical books after exploring electronic versions allows for a more curated and meaningful reading experience [4]. - The article emphasizes the need for maintaining focus and cognitive engagement in an age where information is readily available, advocating for a strategy that combines the strengths of both reading formats [4].

Core Insights - Shenzhen is promoting a unique cultural atmosphere during the Spring Festival by integrating reading into traditional customs and modern commerce, establishing itself as a "global model city for universal reading" [1] Group 1: Cultural Initiatives - The "Bay Area Eye" bookstore has become a cultural landmark, attracting citizens with its modern architectural style and immersive reading experiences [1] - Various Spring Festival themed activities have been organized, including Guinness Spring Couplets challenges and intangible cultural heritage experiences, blending culture with technology [1][2] Group 2: Commercial Integration - The "city cultural living room" concept has been introduced in the Shenzhen Houhai business district, creating a "business circle reading" model that allows citizens to enjoy reading while engaging in leisure activities [2] - Book exchanges and digital reading resources are being promoted in commercial spaces, enhancing the social aspect of reading [2] Group 3: Technological Innovations - The integration of technology in cultural activities includes the introduction of driverless cars and intelligent service robots in the "Bay Area Eye" bookstore, providing information and enhancing the reading experience [2][3] - The use of digital platforms, such as the Shenzhen Library's digital reading room, offers access to a vast collection of electronic books and audio resources [2]

Core Viewpoint - Shenzhen is transforming its cultural landscape by integrating reading into traditional festivities, creating a vibrant cultural atmosphere during the Spring Festival through innovative cultural spaces and activities [1]. Group 1: Cultural Initiatives - Shenzhen has established the "Bay Area Eye" bookstore as a new cultural landmark, attracting citizens and becoming a popular social spot [1][4]. - The city is implementing the "urban cultural living room" concept in various commercial areas, promoting a "reading in the shopping district" model that allows citizens to enjoy literature while engaging in leisure activities [4]. - Various bookstores are hosting unique cultural events during the Spring Festival, such as traditional crafts and interactive experiences, enhancing the festive atmosphere [4]. Group 2: Technological Integration - The "Bay Area Eye" bookstore features advanced technology, including self-driving cars providing free rides and smart service robots offering assistance and entertainment [4]. - Digital reading resources are made accessible through the integration of traditional markets and digital libraries, with 280,000 electronic books and 220,000 audio resources available for citizens [4]. - The combination of traditional customs and modern technology is creating a novel reading experience, making the Spring Festival in Shenzhen more engaging and innovative [4].

Core Viewpoint - The company is actively transforming and adapting to the pressures of the traditional publishing industry by leveraging new technologies and focusing on high-quality development through strategic partnerships and digital initiatives [1]. Group 1: Partnerships and Collaborations - The company has established collaborations with platforms such as Ximalaya, Tencent TME, and WeChat Reading for its audiobook business, and with Tomato Novel, WeChat Reading, and Dedao for its e-book business [1]. - These partnerships have yielded positive results, indicating a successful expansion into digital content distribution channels [1]. Group 2: Strategic Initiatives - The company is accelerating its digital transformation by utilizing technology to enhance content production, channel operations, and service upgrades [1]. - It is also focusing on a premium publishing strategy to optimize product structure and improve the profitability and brand value of individual products [1]. Group 3: Industry Context - The company is responding to growth pressures in the traditional publishing sector and demographic changes by fostering new growth drivers such as digital publishing and knowledge services [1]. - The emphasis on high-quality development aims to ensure stable operations and protect shareholder interests [1].

Group 1 - The company is continuously monitoring industry trends, such as the popular short drama sector [1] - The company plans to align its strategies with its business development while making investments in relevant areas [1] - Currently, the company has a partnership with ByteDance's Tomato Novel platform for e-book licensing [1]

Group 1 - The core viewpoint of the articles highlights the strategic transformation of the company from a traditional content provider to an IP ecosystem operator, emphasizing the importance of IP in activating commercial value across multiple industries [1][2][3] - The company has successfully developed the "Youth Reading" brand into a cultural IP matrix, which includes 20 series and 64 books, achieving over 10 million copies sold and nearly 300 million yuan in sales revenue [2] - The company is actively embracing media integration by developing e-books, audio courses, radio dramas, and cultural products, thus creating a comprehensive ecosystem that combines books, practice, and education [2] Group 2 - The company aims to leverage emerging technologies such as VR, AI, and spatial recognition to enhance cultural experiences and engage youth in a more interactive manner [3] - Future plans include deepening the IP strategy, focusing on original content, copyright operations, and cross-industry collaboration to explore IP applications in cultural, tourism, education, and technology sectors [3]

Core Insights - China is expected to become a significant force in the global publishing industry within the next decade, driven by domestic market growth, strategic expansion, rapid development in academic publishing, and early adoption of digital technologies [1] Group 1: Embracing the Digital Age - China's book publishing market is one of the largest globally, with millions of active readers and increasing disposable income driving demand for both print and e-books [2] - Platforms like Dangdang and JD Books are expanding their catalogs, while audiobooks and mobile reading applications gain popularity, showcasing the market's diversity [2] - Despite challenges such as intense price competition and a slowdown in the children's book sector, the innovation capacity remains strong [2] - Chinese publishers are quickly adapting to the digital era, utilizing platforms like Douyin for sales, and showing flexibility that allows them to reach a large digital-native audience [2] - There is a growing demand for high-quality original content that blends traditional Chinese narratives with modern themes, supported by a rising cultural pride [2] Group 2: Expanding International Markets - The internationalization of China's mass publishing industry is a key component of a government-supported soft power strategy [4] - Major state-owned groups like China Publishing Group and China International Communication Group are actively promoting Chinese narratives abroad through multilingual publications [4] - Chinese publishers are acquiring international book copyrights and forming strategic partnerships with global publishing institutions to expand cultural influence [4] - More Chinese narratives are expected to enter mainstream markets, particularly in Asia, Africa, and Latin America over the next decade [4] Group 3: Rapid Development in Academic Publishing - The academic publishing sector in China is undergoing significant transformation, with substantial investments in research and development [5] - Open access is a rapidly growing area, encouraged by policy adjustments that promote data sharing and transparent research practices [5] - By 2030, Chinese academic publishers are projected to have a larger global influence, particularly in STEM fields [6] - The Chinese government is fostering the creation of world-class domestic academic journals to reduce reliance on foreign institutions [6] - Investments in digital publishing and knowledge platforms are accelerating modernization and expansion of local publishers [6] - Collaborative projects, such as the Belt and Road Initiative, are enhancing connections with emerging markets and increasing China's influence in historically Western-dominated regions [6]

Core Insights - The publishing industry is facing significant challenges in 2025, driven by external pressures and internal adjustments that require enhanced responsiveness [1][3]. External Challenges - The rise of digital reading is significantly impacting the market share of traditional print publishing, with changing user habits leading to a decline in physical bookstore viability [3][4]. - Online e-book platforms are employing low-price strategies and convenient access methods, further diverting potential print book consumers [3]. - The emergence of self-media content formats, such as short videos and podcasts, is capturing user attention in a more fragmented and entertaining manner, posing a serious competitive threat to traditional publications [3]. - Global economic uncertainties are dampening cultural consumption willingness, leading to sluggish book sales and increasing inventory pressures within the publishing industry [3]. Internal Challenges - Some publishers lack awareness in brand building and reader service in the new media era, failing to establish strong emotional connections with readers, resulting in low reader loyalty [3][4]. - The traditional distribution methods are becoming obsolete, necessitating a shift towards direct engagement with readers and adaptation to new retail market dynamics [4][6]. - Publishers are struggling to accurately connect with readers, often lacking comprehensive reader data and relying on outdated marketing methods [6][9]. Digital Transformation Issues - Many publishing institutions face inadequate digital infrastructure, unclear copyright ownership, and insufficient operational capabilities, which hinder their ability to adapt to digital resource platform trends [9]. - The publishing industry is experiencing challenges related to copyright infringement by AI technology companies, with insufficient measures in place for protection and enforcement [9]. Trust and Credibility Concerns - The publishing industry is grappling with a trust crisis, as errors in published works can quickly undermine its authoritative role [10][12]. - There is a need for publishers to actively engage with readers, inviting them into the publishing process and addressing errors transparently to rebuild trust [10][12]. Future Outlook - The publishing industry must focus on repairing relationships with the market and readers, emphasizing the importance of establishing reliable reader data and enhancing service capabilities [13][14]. - The upcoming 2026 National Reading Week is expected to amplify the demand for quality books and respect for knowledge, providing an opportunity for the industry to rejuvenate [16].

Core Insights - The article emphasizes the importance of promoting new technologies and platforms for reading in the digital age, as highlighted by the recently released "National Reading Promotion Regulations" [1] Group 1: Digital Reading Trends - The comprehensive reading rate in China has increased from 76.3% in 2012 to 82.1% in 2024, driven by new technologies [1] - New reading formats, such as e-books and audiobooks, are making reading more accessible and enjoyable for a wider audience [1] Group 2: Targeted Development of New Platforms - Reading platforms should develop new carriers tailored to different reader demographics, such as interactive visual and audio content for youth [2] - For elderly readers, reading devices need to incorporate features like enlarged text and voice control to bridge the digital divide [2] Group 3: Service Optimization and Accessibility - There is a need for a human-centered reading service system that coordinates hardware and software improvements, enhancing the usability of reading facilities [3] - Localized reading facilities, such as mobile libraries, should be developed to reflect regional cultural characteristics and promote cultural exchange [3]