视觉（中国）文化发展股份有限公司章程 视觉（中国）文化发展股份有限公司章程 视觉（中国）文化发展股份有限公司 （000681） 章 程 二O 二五年九月 - 1 - 第二条 公司系依照《公司法》、《证券法》和其他有关规定成立的股份有限 公司（以下简称"公司"）。 公司经国家授权部门批准成立，由国家对外贸易经济合作部核准，和苏体改 生（1993）376 号文批准，以定向募集方式设立；在国家工商行政管理局注册登 记，取得营业执照,统一社会信用代码:91320400608117856C。 第三条 公司于 1996 年 12 月经中国证监会批准，首次向社会公众发行人民 币普通股1,250万股。全部为向境内投资人发行的以人民币认购的内资股，于1997 年 1 月 21 日在深圳证券交易所上市。 第四条 公司注册名称： 中文全称：视觉（中国）文化发展股份有限公司。 英文全称：VISUAL CHINA GROUP CO.,LTD. 第五条 公司住所：常州西太湖科技产业园禾香路 123 号 6 号楼一楼 101 室 邮政编码：213161 第一章 总则 第六条 公司注册资本为人民币 700,577,436 元。 第一条 为维 ...

证券代码：000681 证券简称：视觉中国 公告编号：2025-045 关于董事辞职及调整公司董事会成员人数 并修订《公司章程》的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 视觉（中国）文化发展股份有限公司（以下简称"公司"）于 2025 年 9 月 8 日召开第十一届董事会第四次会议，审议通过了《关于调整公司董事会成员人数 的议案》及《关于修订<公司章程>的议案》。现将有关情况公告如下： 一、 公司董事离任及调整公司董事会成员人数情况 近日，公司收到非独立董事李长旭先生向公司董事会提交的辞职报告，李长 旭先生因个人原因辞去公司第十一届董事会董事及审计委员会委员、提名委员会 委员职务，辞职后不再担任公司及控股子公司任何职务，李长旭先生原定的任职 期间为 2025 年 6 月 23 日至 2028 年 6 月 22 日。截至本公告日，李长旭先生未持 有公司股票。 根据《公司法》《深圳证券交易所上市公司自律监管指引第 1 号——主板上 市公司规范运作》等法律法规、规范性文件及《公司章程》有关规定，李长旭先 生的辞职未导致公司董事会成员低于法定最低人数，但 ...

证券代码：000681 证券简称：视觉中国 公告编号：2025-046 视觉（中国）文化发展股份有限公司 关于召开 2025 年第一次临时股东会通知的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 一、召开会议的基本情况 1．股东会届次：2025年第一次临时股东会 2．会议召集人：公司董事会 2025年9月8日召开的第十一届董事会第四次会议审议通过了《关于召开公司 2025年第一次临时股东会的议案》。 3．会议召开符合《公司法》《深圳证券交易所股票上市规则》及《公司章 程》等有关规定。 4．会议召开日期、时间： (1)现场会议召开时间：2025年9月24日（星期三）下午15:00。 (2)网络投票时间： 通过深圳证券交易所系统投票时间为2025年9月24日9:15-9:25,9:30-11:30和 13:00-15:00。 通过深圳证券交易所互联网投票系统投票的时间为：2025年9月24日 9:15-15:00。 5. 会议召开方式： 本次股东会采取现场投票与网络投票相结合方式召开。公司将通过深圳证券 交易所交易系统和互联网投票系统（http://wlt ...

视觉（中国）文化发展股份有限公司（以下简称"公司"）第十一届董事会第 四次会议于 2025 年 9 月 8 日上午在公司会议室以现场结合通讯方式召开，会议 通知于 2025 年 9 月 5 日以电子邮件方式送达全体董事。公司应到会董事 6 人， 实际到会董事 6 人，参与表决董事 6 人，其中董事吴斯远先生、李长旭先生，独 立董事陆先忠先生、张磊先生以通讯方式出席会议，公司高级管理人员列席了本 次会议，会议由董事长廖杰先生主持。本次会议的召集、召开和表决程序符合《公 司法》《证券法》及《公司章程》的规定。会议以现场及通讯表决方式审议通过 了以下议案： 二、董事会会议审议情况 1、审议通过了《关于调整公司董事会成员人数的议案》 证券代码：000681 证券简称：视觉中国 公告编号：2025-044 视觉（中国）文化发展股份有限公司 第十一届董事会第四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 一、董事会会议召开情况 表决结果：6 票同意，0 票反对，0 票弃权。 近日，公司收到非独立董事李长旭先生向公司董事会提交的辞职报告，李长 旭先生因个人 ...

Market Overview - On September 4, the digital media sector declined by 1.28%, with *ST Fanli leading the drop [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Stock Performance - Notable stock performances included: - 365.com (300295) closed at 13.42, up 1.59% with a trading volume of 66,500 shares [1] - ZhiDeMai (300785) closed at 33.29, up 1.49% with a trading volume of 156,900 shares [1] - ChuanWang Media (300987) closed at 17.78, up 0.97% with a trading volume of 44,100 shares [1] - *ST Fanli (600228) closed at 4.71, down 5.04% with a trading volume of 174,500 shares [2] Capital Flow - The digital media sector experienced a net outflow of 154 million yuan from institutional investors, while retail investors saw a net inflow of 190 million yuan [2] - The capital flow for individual stocks showed: - ZhiDeMai had a net outflow of 13.93 million yuan from institutional investors [3] - *ST Fanli had a significant net outflow of 18.63 million yuan from institutional investors, with a 22.49% net outflow ratio [3] - Retail investors contributed a net inflow of 864.71 million yuan to *ST Fanli [3]

Core Points - Visual China has experienced a stock price decline of 1.81% on September 4, with a total market value of 14.467 billion yuan and a cumulative drop of 9.47% over three consecutive days [1] - The company primarily engages in the production and distribution of television dramas, indoor smart entertainment in theme parks, and the sale of creative visual materials, with 99.92% of its revenue coming from visual content and services [1] - The Guotai Fund holds a significant position in Visual China, with the Guotai CSI Film and Television Theme ETF reducing its holdings by 5,900 shares in the second quarter, resulting in a floating loss of approximately 39,000 yuan today and a total floating loss of 221,400 yuan during the three-day decline [2] Company Overview - Visual China was established on May 28, 1994, and went public on January 21, 1997, with its headquarters located in Beijing [1] - The company’s main business segments include the production of television dramas, theme park entertainment, and the sale of visual materials such as images and videos [1] Fund Performance - The Guotai CSI Film and Television Theme ETF, managed by Wang Yu and Liu Fangyuan, has a total asset size of 222.75 billion yuan and has seen a best return of 30.18% and a worst return of -48.87% during Wang's tenure [3] - The fund has achieved a year-to-date return of 17.98% and a one-year return of 56.28%, ranking 2387 out of 4222 and 1380 out of 3789 respectively [2]

Core Viewpoint - 500px China, a subsidiary of Visual China, has introduced management regulations for AI-generated content (AIGC) to regulate its dissemination and maintain the community's focus on "real photography" while complying with national policies [1] Group 1: Regulations on AI-Generated Content - The platform will restrict the display of images that are entirely generated by AI [1] - Newly uploaded AI content must be labeled with an "AIGC" option, while existing AI content requires users to clearly indicate this in the title and description or delete the work [1] - A reporting channel has been established for users to report AI content that is not properly labeled or is misleading [1] Group 2: Community and Compliance - The initiative aims to preserve the unique culture of the 500px community centered around authentic photography [1] - The regulations are also designed to ensure adherence to relevant national policies regarding content management [1]

Core Viewpoint - Visual China has completed the upgrade of its websites vcg.com and cfp.cn, implementing legal identification for all AI-generated content (AIGC) [1] Group 1 - The websites have updated user operation processes, allowing users to filter and find AIGC works [1] - Users can choose whether to retain explicit identification based on actual usage scenarios when downloading [1]

Market Overview - On September 1, the digital media sector rose by 0.64%, with Vision China leading the gains [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Stock Performance - Vision China (000681) closed at 22.81, with a gain of 5.60% and a trading volume of 1,158,800 shares [1] - ST Fanli (600228) closed at 4.87, up 4.96%, with a trading volume of 126,100 shares [1] - Other notable performers include Chuanwang Media (300987) at 18.86 (+1.29%) and Xinhua Net (603888) at 21.32 (+0.95%) [1] Capital Flow - The digital media sector saw a net inflow of 319 million yuan from institutional investors, while retail investors experienced a net outflow of 135 million yuan [2] - The main capital inflow was primarily directed towards Vision China, which had a net inflow of 340 million yuan [3] Individual Stock Capital Flow - Vision China had a net institutional inflow of 340 million yuan, representing 12.83% of its trading volume, while retail investors had a net outflow of 165 million yuan [3] - Mango Super Media (300413) experienced a net institutional inflow of 38.82 million yuan, with retail investors also showing a net outflow of 14.52 million yuan [3] - Xinhua Net (603888) had a net institutional inflow of 20.04 million yuan, while retail investors faced a net outflow of 8.02 million yuan [3]

Core Insights - The company reported a revenue of 399 million yuan in the first half of 2025, a year-on-year increase of 0.05%, while the net profit attributable to shareholders was 44 million yuan, a decrease of 13.91% due to the impact of the macro environment on the advertising and marketing industry [1] - The company is leveraging AI technology to enhance its core business, having launched a "Copyright Review and Plagiarism Detection System" that intercepted over 100,000 materials and terminated contracts with 616 contributors [1] - The company aims to create a global visual content ecosystem, having signed over 9,000 AI creators and generated sales exceeding 27 million yuan from AI-assisted creative works [2] Financial Performance - In the first half of 2025, the company achieved a revenue of 399 million yuan, with a net profit of 44 million yuan, reflecting a decline in profitability [1] - The company plans to distribute a cash dividend of 0.11 yuan per 10 shares (tax included), without any stock bonus [1] - The projected net profits for 2025-2027 are estimated to be 143 million, 155 million, and 169 million yuan respectively, with corresponding EPS of 0.20, 0.22, and 0.24 yuan per share [2] AI and Innovation - The company has developed an internal AI toolbox that is in the beta testing phase, which is expected to become a new growth point for revenue and profit [1] - The AI product AiPPT achieved over 20 million visits in May, ranking first in the domestic AI native PPT tool market and second globally [1] - The company has established partnerships with domestic and international copyright and media organizations, enhancing its creator community that serves over 37 million registered users globally [2] Market Position and Strategy - The company is focusing on the "AI Intelligence + Content Data + Application Scenarios" development strategy to capitalize on AI growth opportunities [2] - The audio and video business accounts for over 32% of total revenue, indicating a significant contribution to the company's financial performance [2] - The company has paid over 2.9 billion yuan in royalties to contributors, promoting a healthy creator ecosystem [2]