Core Insights - ByteDance's AI-native application "Doubao" has surpassed 100 million daily active users (DAU), marking a significant shift in mobile internet traffic dynamics and the transition of AI technology from novelty to widespread adoption [1] - The consumer behavior shift from "keyword search" to "generative dialogue" indicates the obsolescence of traditional traffic distribution mechanisms, leading to a new marketing logic based on Generative Engine Optimization (GEO) [1] Company Summary - Tianyu Shuke (002354) focuses on application-oriented strategies, integrating AI technology deeply with business scenarios [1] - The company has developed a proprietary smart advertising model that establishes a foundational logic for brands to communicate within the AI ecosystem, offering a comprehensive, automated marketing service across various industries including internet, insurance, beauty, and 3C [1] - Tianyu Shuke has received multiple industry awards, including the "Tiger Roar Award for AIGC Marketing Gold," "2025 Annual Marketing Intelligent Agent Innovation Award," and "Best Practice Case for AI Agent" [1] Industry Summary - The transition from SEO to GEO represents a generational shift in marketing infrastructure, driven by technology in the competition for traffic entry points [2] - The industry consensus is that continuous technological iteration is essential for brands to solidify their foundation during this traffic reshaping process, transforming generative technology into a reliable growth driver [2]

Group 1 - Tianyu Digital Technology (Dalian) Group Co., Ltd. is primarily engaged in the development and operation of online games, including web and mobile games, as well as internet and mobile internet advertising, mobile application distribution platform development, and technical consulting services [1] - The company's main business revenue composition is as follows: data traffic business accounts for 97.93%, digital competitive platform 2.01%, and others 0.06% [1] - As of January 5, Tianyu Digital's stock price increased by 5.02%, reaching 6.69 CNY per share, with a trading volume of 563 million CNY and a turnover rate of 5.31%, resulting in a total market capitalization of 11.069 billion CNY [1] Group 2 - Southern Fund's Southern CSI 1000 ETF (512100) is among the top ten circulating shareholders of Tianyu Digital, having reduced its holdings by 128,100 shares in the third quarter, now holding 15.1375 million shares, which represents 0.93% of the circulating shares [2] - The Southern CSI 1000 ETF has a current scale of 76.63 billion CNY and has achieved a year-to-date return of 29.23%, ranking 1828 out of 4189 in its category [2] - The fund manager of Southern CSI 1000 ETF is Cui Lei, who has been in the position for 7 years and 61 days, with a total fund asset scale of 122.76 billion CNY and a best fund return of 208.53% during the tenure [3]

Group 1 - The core viewpoint of the news is that Tianyu Digital Technology has shown a significant increase in stock price and trading activity, indicating positive market sentiment and investor interest [1][2]. - As of December 30, Tianyu Digital's stock price rose by 2.10% to 6.32 CNY per share, with a total market capitalization of 10.457 billion CNY [1]. - The company has experienced a year-to-date stock price increase of 17.69%, with a recent 3.44% rise over the last five trading days [1]. Group 2 - Tianyu Digital Technology, established on August 29, 2003, specializes in the development and operation of online games, internet advertising, and mobile application distribution [2]. - The company's revenue composition is heavily weighted towards data traffic business at 97.93%, with digital competitive platforms contributing only 2.01% [2]. - For the period from January to September 2025, Tianyu Digital reported a revenue of 1.508 billion CNY, reflecting a year-on-year growth of 25.67%, and a net profit of 42.703 million CNY, marking a substantial increase of 597.60% [2]. Group 3 - Since its A-share listing, Tianyu Digital has distributed a total of 260 million CNY in dividends, with no dividends paid in the last three years [3]. - As of September 30, 2025, the top ten circulating shareholders include Southern CSI 1000 ETF, which holds 15.1375 million shares, a decrease of 128,100 shares from the previous period [3]. - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, increasing its holdings by 1.6488 million shares to 13.0745 million shares [3].

Group 1 - The core announcement is about the completion of share reduction by the company's Vice President, Liu Yuping, who planned to reduce up to 250,000 shares, representing 0.0151% of the total share capital [1][2] - The share reduction was executed in compliance with relevant laws and regulations, and the actual number of shares reduced did not exceed the planned amount [2][3] - The implementation of this share reduction will not lead to any change in the company's control or affect its governance structure and ongoing operations [3] Group 2 - The third extraordinary general meeting of shareholders was held on December 29, 2025, with a total of 1,030 shareholders and representatives present, representing 60,097,619 shares, or 3.6322% of the total shares [8] - The meeting was conducted with both on-site and online voting, and all proposed resolutions were voted on [10] - The resolutions included the reappointment of the auditing firm for 2025, adjustments to independent director allowances, and revisions to various internal management systems, all of which received significant support from shareholders [11][13][15][17][20][22]

Core Viewpoint - Tianyu Digital Technology (002354) announced a share reduction by its Vice President Liu Yuping, who sold 250,000 shares, representing 0.0151% of the company's total share capital [1][2]. Financial Performance - For the first three quarters of 2025, Tianyu Digital Technology reported revenue of 1.508 billion yuan and a net profit attributable to shareholders of 42.7 million yuan [2].

注：上表中，刘玉萍女士本次减持的股份来源于公司股票期权激励计划行权 股票代码：002354 股票简称：天娱数科 编号：2025—046 天娱数字科技（大连）集团股份有限公司 关于高级管理人员减持股份实施完成的公告 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。 天娱数字科技（大连）集团股份有限公司（以下简称"公司"）于 2025 年 11 月 18 日披露了《关于高级管理人员减持股份预披露的公告》，公司副总经 理刘玉萍女士计划在上述公告披露之日起 15 个交易日后的三个月内（即 2025 年 12 月 10 日起至 2026 年 3 月 9 日止）以集中竞价方式/大宗交易方式合计减 持公司股份不超过 250,000 股（占公司总股本比例 0.0151%）。 公司于近日收到副总经理刘玉萍女士出具的《关于减持股份实施完成的告 知函》，截至本公告披露日，刘玉萍女士本次减持股份计划已实施完成，现将 有关情况公告如下： 一、减持情况 | 股东名称 | 减持 | | | | 减持均价 减持数量 | 已减持数量 占公司总股 | | --- | --- | --- | --- ...

股票代码：002354 股票简称：天娱数科 编号：2025—047 天娱数字科技（大连）集团股份有限公司 2025 年第三次临时股东会决议的公告 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。 2、表决方式：现场投票与网络投票相结合的方式； 3、会议召开时间： （1）现场会议时间：2025 年 12 月 29 日（星期一）下午 15:00 （2）网络投票时间：2025 年 12 月 29 日 4、会议召开地点：北京市朝阳区康中街 E9 区创新工场 9 号楼公司会议室； 5、会议主持人：公司董事长贺晗； 6 、 会 议 的 通 知 ： 公 司 2025 年 12 月 12 日 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）上披露了《关于召开 2025 年第三次临时股东会的通 知》； 7、本次会议的召集、召开符合《公司法》《上市公司股东会规则》及《公 司章程》等有关规定。 特别提示： 一、 会议召开和出席情况 1、召集人：天娱数字科技（大连）集团股份有限公司董事会； 通过深圳证券交易系统网络投票时间：2025 年 12 月 29 日上 ...

北京德恒律师事务所 关于 天娱数字科技（大连）集团股份有限公司 2025 年第三次临时股东会的 法律意见 电话：010-52682888 传真：010-52682999 邮编：100033 北京市西城区金融街 19 号富凯大厦 B 座 12 层 北京德恒律师事务所 关于天娱数字科技（大连）集团股份有限公司 2025 年第三次临时股东会的法律意见 北京德恒律师事务所 关于天娱数字科技（大连）集团股份有限公司 2025 年第三次临时股东会的 法律意见 德恒01G20250279-04号 致：天娱数字科技（大连）集团股份有限公司 为出具本法律意见，本所见证律师严格履行了法定职责，遵循勤勉尽责和诚 实信用原则，审查了公司本次股东会的有关文件，查验了公司本次股东会的召集 和召开程序、出席本次股东会人员及会议召集人资格、本次股东会的表决程序及 表决结果等必要的文件和资料。 本所已得到公司如下保证：其已向本所提供了为出具本见证意见所需要的全 部事实材料，包括但不限于原始书面资料、副本或复印件、电子资料等。其所提 供文件资料均真实、准确、完整、有效，不存在虚假记载和误导性信息，且其已 将全部事实向本所披露，无任何隐瞒、遗漏之 ...

Core Viewpoint - The advertising and marketing sector experienced a decline of 0.53% on December 26, with Xinhua leading the drop, while the Shanghai Composite Index rose by 0.1% and the Shenzhen Component Index increased by 0.54% [1] Group 1: Market Performance - The advertising and marketing sector's stocks showed mixed performance, with notable declines in Xinhua, which fell by 5.89% to a closing price of 9.74, and other companies like Qitian Technology and Electric Sound Shares also experiencing losses [2] - The overall trading volume in the advertising and marketing sector was significant, with Xinhua alone accounting for a transaction amount of 1.36 billion yuan [2] Group 2: Capital Flow - The advertising and marketing sector saw a net outflow of 624 million yuan from major funds, while retail investors contributed a net inflow of 531 million yuan [2][3] - Specific stocks like Province Advertising Group and Sanrenxing experienced varying levels of capital flow, with Province Advertising Group seeing a net inflow of 67.6 million yuan from major funds [3]

关于变更公司办公地址的公告 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。 股票代码：002354 股票简称：天娱数科 编号：2025—045 天娱数字科技（大连）集团股份有限公司 除上述变更内容外，公司的注册地址、投资者联系电话、公司邮箱等其他联 系方式保持不变，以上变更将自本公告发布之日起正式启用，敬请广大投资者留 意。 特此公告。 天娱数字科技（大连）集团股份有限公司董事会 2025 年 12 月 19 日 天娱数字科技（大连）集团股份有限公司（以下简称"公司"）于近日迁入 新办公地址，现将公司办公地址和邮政编码变更情况公告如下： | 变更事项 | 变更前 | | | 变更后 | | | --- | --- | --- | --- | --- | --- | | 办公地址 | 北京市朝阳区青年路 | | 7 号 | 北京市朝阳区康中街 | E9 | | | 达美中心 层 T4 16 | 座 | | 区创新工场 9 | 号楼 | | 邮政编码 | 100123 | | | 100121 | | ...