证券代码：002027 证券简称：分众传媒 上市地点：深圳证券交易所 分众传媒信息技术股份有限公司 发行股份及支付现金购买资产暨关联交易 预案（摘要） （修订稿） 项目 交易对方名称 重庆京东海嘉电子商务有限公司、张继学、百度在线网络技术（北京）有限公司 发行股份及支付现金购买资产 等 50 名交易对方 二〇二五年七月 分众传媒信息技术股份有限公司 发行股份及支付现金购买资产暨关联交易预案（修订稿） 上市公司声明 本公司及全体董事、高级管理人员保证本预案及其摘要内容的真实、准确、 完整，保证不存在虚假记载、误导性陈述或者重大遗漏，并对所提供信息的真实 性、准确性和完整性承担相应的法律责任。 本公司控股股东以及全体董事、高级管理人员承诺，如本人或本单位为本次 交易所提供或者披露的信息涉嫌虚假记载、误导性陈述或者重大遗漏，并被司法 机关立案侦查或者被中国证监会立案调查的，在形成调查结论以前，本人或本单 位不转让在上市公司拥有权益的股份。并于收到立案稽查通知的两个交易日内将 暂停转让的书面申请和股票账户提交上市公司董事会，由董事会代本人或本单位 向深圳证券交易所和证券登记结算机构申请锁定；未在两个交易日内提交锁定申 ...

引言： 本文是新《中华人民共和国广告法》实施十周年系列文章的第二篇。 十年来，中国广告业在法治保障下实现了规模与质量的双重跃升，逐步构建起健康有序的市场生态。市场监管总局针对互联网广告、医疗美容、明星代言 等新兴业态，出台《互联网广告管理办法》等专项规范，填补监管空白；北京、上海、深圳等地依托《广告法》推出数字广告发展政策，专项合规指引形 成"全国统筹+地方创新"的法治网络。广告从业者在发展的浪潮中，不断推陈出新。 未来2个月，我们将通过广告监管部门、专家学者的视角，回顾这十年来制度的不断完善，展望广告行业未来发展的方向，需要聚焦的难点与问题，持续 以法治为基、导向为魂，为"十五五"产业布局，为经济高质量发展注入行业视角。 当今世界，智能技术正以前所未有的速度与广度重塑人类社会的发展路径，其裂变式进化不仅成为推动文明演化的关键引擎，也因深刻影响社会结构、价 值体系与未来秩序引发广泛关注。在这场技术主导的变革中，传播生态正经历信息逻辑到智能逻辑的系统性跃迁，标志着数智传播时代的全面开启。 "数智化转型"已成为广告产业深层重构的核心主轴。广告不仅是新兴技术落地的重要"试验田"，更是技术成果率先实现商业转化与社会扩 ...

Core Viewpoint - The article discusses the significant transformation of China's advertising industry over the past decade, emphasizing the shift towards a "smart" and data-driven advertising ecosystem, driven by technological advancements and regulatory improvements [1][2]. Group 1: Evolution of Advertising Industry - The advertising industry in China has transitioned from basic digitalization to deep "data-intelligence integration," marked by the rise of mobile internet and platforms like Weibo and WeChat, leading to a shift from display logic to scenario-based, personalized interactions [4]. - By 2016, mobile advertising revenue surpassed PC advertising for the first time, indicating a historic shift in media focus [4]. - The integration of big data, cloud computing, and algorithm models has led to significant upgrades in programmatic buying, user profiling, and performance optimization [4][5]. Group 2: Technological Integration - The advertising industry is evolving from a traditional service model to a key node embedded in the logic of smart social operations, fundamentally reshaping its strategic position in the economy, culture, and governance systems [2][5]. - The emergence of new business models, such as digital advertising, social advertising, video advertising, and content e-commerce, has become the main engine for industry growth [7]. - Major platform companies like Alibaba, ByteDance, and Tencent have integrated advertising deeply into their technological frameworks, creating a closed-loop ecosystem that enhances precision, programmability, and real-time capabilities [7]. Group 3: Structural Changes and Challenges - The advertising workforce is evolving, requiring professionals to possess a combination of skills in data analysis, programming, and algorithm application, leading to a new standard for talent in the data-driven advertising industry [8]. - The role of advertising is expanding beyond commercial promotion to include cultural construction, social mobilization, and even national governance, indicating its growing importance in societal functions [10][11]. - The rise of algorithm-driven advertising systems has introduced structural risks, including data privacy concerns and the opacity of algorithmic decision-making, which could lead to increased costs for smaller advertisers [13][14]. Group 4: Future Outlook - The future of advertising is expected to be characterized by deeper integration of technologies like AIGC, emotional computing, and virtual personas, embedding advertising into various critical societal functions [11][12]. - The industry must transition from a "technology-driven" approach to a "responsibility-driven" model, focusing on algorithm transparency, data boundaries, and ethical frameworks to ensure a sustainable advertising ecosystem [16]. - A balanced and sustainable advertising ecosystem will require dynamic adjustments between institutional updates, industry rules, and value orientations, aiming for high-quality development paths that are responsible and sustainable [16].

马克·扎克伯格（Mark Zuckerberg）周一表示，Meta Platforms(META.O)将投入数千亿美元建设多座用于 超级智能的大型AI数据中心，进一步加剧他为争夺顶尖工程人才而展开的技术竞赛。 这家社交媒体巨头是近几个月达成高调交易，并发放数百万美元薪酬吸引人才的大型科技公司之一，目 的是加快开发能够在许多任务上超越人类思维的机器。 扎克伯格在Threads社交平台发帖称，Meta的首个多吉瓦特数据中心"普罗米修斯"（Prometheus）预计将 于2026年投入使用，另一座名为"海伯利昂"（Hyperion）的数据中心未来几年可扩展至5吉瓦。 另外，Meta在今年4月将2025年资本支出预期上调至640亿至720亿美元，旨在强化公司在与OpenAI和谷 歌的竞争中所处的地位。该公司股价周一上涨1%，年初至今已累计上涨超过20%。 该公司去年营收接近1650亿美元，上月在其开源Llama 4模型受挫和核心员工离职之后，将AI业务重组 为"超级智能实验室"（Superintelligence Labs）部门。 Meta押注该部门能够通过Meta AI应用、图像转视频广告工具以及智能眼镜带来新的现 ...

Group 1 - Meta is exploring AI-generated advertising technology to reduce costs and complexity for advertisers [1] - Meta announced an upgrade to its image-to-video advertising tool, allowing marketers to create multi-scene video ads from up to 20 images [1] - The global AI advertising market is projected to grow from $1.023 billion in 2024 to $10.32 billion by 2031, with a compound annual growth rate of 39.7% [1] Group 2 - Yidian Tianxia is enhancing AI capabilities in e-commerce video advertising through collaboration with partners like Alibaba Cloud and Zhipu AI [2] - Simai Media is actively developing applications for AIGC in advertising and cultural tourism, focusing on AI ad generation and intelligent placement systems [2]

Group 1 - Meta is testing AI-generated video advertising features, allowing marketers to convert product images into multi-scene video ads by uploading up to 20 images and adding background music and text [3] - Meta's CEO Mark Zuckerberg has prioritized AI as a key focus for the company, investing $14.3 billion (approximately 102.7 billion RMB) in Scale AI and forming a dedicated team for "superintelligent" AI [3] - AI is a critical component of Meta's advertising business, which accounts for approximately 98% of its annual revenue, particularly benefiting small businesses by reducing advertising material production costs [3] Group 2 - TikTok has also launched new AI advertising tools, including the ability for advertisers to upload product images or write short text prompts to generate multiple 5-second short videos for ad use [4] - TikTok's AI video generation features are part of its "Symphony" product set to launch in 2024, aimed at helping brands utilize generative AI for advertising [4] - Previously, TikTok allowed advertisers to promote and sell products through AI digital avatars on the platform [4]

Group 1: Advertising Market Overview - In 2024, the domestic advertising market increased by 1.6% year-on-year, maintaining reasonable fluctuations despite a slowdown in growth compared to the previous year [3] - The outdoor advertising market in China reached approximately 85.22 billion RMB in 2024, with a year-on-year growth of about 3.86% [3] - The market size of outdoor video advertising in 2024 was approximately 48.32 billion RMB, accounting for about 56.7% of the overall outdoor advertising market [3] - In Q1 2025, the domestic advertising market saw a slight decline of 0.4% year-on-year, with January showing a growth of 3.5% and February experiencing a drop of 6.7% due to the Spring Festival [4] Group 2: Company Performance - In 2024, the company achieved operating revenue of 12,262.10 million RMB, a 3.01% increase from the previous year [5] - The net profit attributable to shareholders was 5,155.39 million RMB, up 6.80% year-on-year [5] - In Q1 2025, the company reported operating revenue of 2,857.74 million RMB, a 4.70% increase compared to the same period last year [6] - The net profit attributable to shareholders in Q1 2025 was 1,135.17 million RMB, reflecting a 9.14% year-on-year growth [6] Group 3: Client Structure and Industry Trends - The largest client sector for the company in 2024 was daily consumer goods, contributing 58.76% of revenue from building media [7] - The company is focusing on expanding its client base in cosmetics, internet, cloud computing, artificial intelligence, and emerging brands [7] - In 2024, revenue from daily consumer goods clients in building media grew by 14.63%, significantly outpacing overall revenue growth [8] Group 4: Strategic Insights and Future Outlook - The company aims to enhance operational efficiency and resource allocation through acquisitions, such as the acquisition of New潮传媒 [10] - The company plans to continue its dual strategy of deepening domestic operations while expanding globally, targeting growth in overseas markets [13] - The company is committed to leveraging AI technology to improve client services and operational efficiency [14] - The proposed cash dividend for 2024 is approximately 4.766 billion RMB, representing about 92.45% of the net profit attributable to shareholders [15]