天舟文化（300148）公告，公司董事袁雄贵计划自公告披露之日起十五个交易日后的三个月内，以集中 竞价交易或大宗交易等方式减持公司股份不超过948.51万股，占公司总股本的1.16%。截至公告日，袁 雄贵持有公司股份3794.06万股，占公司总股本比例4.63%。减持原因系个人财务安排，减持股份来源为 首次公开发行后持有的股份及非公开发行股份。减持价格将根据市场价格及交易方式确定。袁雄贵不是 公司控股股东、实际控制人，其减持不会对公司治理结构及未来持续经营产生重大影响。 ...

天舟文化股份有限公司 关于董事股份减持计划的预披露公告 公司董事袁雄贵保证向本公司提供的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供 的信息一致。 特别提示： 证券代码：300148 证券简称：天舟文化 编号：2025-014 天舟文化股份有限公司（以下简称"公司"） 于近日收到公司董 事袁雄贵先生的《关于股份减持计划告知函》，计划自本公告披露之 日起十五个交易日后的三个月内以集中竞价交易或大宗交易等方式 减持本公司股份数量不超过 9,485,100 股，占本公司总股本比例 1.16% （总股本已剔除公司回购专用账户中的股份数量，下同）。 一、股东基本情况 1、减持股东名称：袁雄贵 2、减持股东持股情况：截至本公告日，袁雄贵先生持有公司股 份37,940,567股，占本公司总股本比例4.63%。 2、减持股份来源：首次公开发行后持有的股份及非公开发行股 份 3、拟减持数量及比例： 袁雄贵先生计划减持公司股份不超过 9,485,100 股，占公司总股 本的 1.16%。其中，采取集中竞价交易方式减持的，在任意连续 90 个 自然日内，减持股 ...

Investment Rating - The report assigns a "Buy" investment rating for the company, marking its first coverage [6]. Core Insights - The company is experiencing a positive trend in its core business, with a net profit of 0.33 billion yuan in 2024 and 0.24 billion yuan in the first quarter of 2025, indicating a recovery from previous performance challenges [5]. - The company is exploring AI+education new business models in 2025, focusing on deepening its publishing and gaming sectors while collaborating with tech firms to enhance AI educational products [5]. - Revenue projections for 2025-2027 are estimated at 5.15 billion yuan, 5.77 billion yuan, and 6.50 billion yuan respectively, with net profits expected to reach 0.74 billion yuan, 1.03 billion yuan, and 1.37 billion yuan [6][9]. Summary by Sections Company Overview - The current stock price is 4.83 yuan, with a total market capitalization of 4 billion yuan and a total share count of 835 million [2]. Financial Performance - In 2024, the company's main business revenue from book publishing was 3.93 billion yuan, a year-on-year increase of 12.37%, with youth book sales contributing 3.4 billion yuan [5]. - The company launched a self-developed educational book series in 2024, achieving over 10 million in sales volume in its first year, which is expected to be a new profit growth point [5]. Future Outlook - The company aims to build a digital education ecosystem by enhancing its core publishing and gaming businesses and leveraging AI technology for educational applications [5]. - The company is also investing in new technology and industries, including cultural creation and digital technology, to expand its business portfolio [5]. Profitability Forecast - The earnings per share (EPS) are projected to be 0.09 yuan, 0.12 yuan, and 0.16 yuan for 2025, 2026, and 2027 respectively, with corresponding price-to-earnings (P/E) ratios of 54.9, 39.0, and 29.4 [6][12].

Investment Rating - The report assigns a "Buy" investment rating for the company, marking its first coverage [6]. Core Insights - The company's main business is showing continuous improvement, with projected revenues of 5.15 billion, 5.77 billion, and 6.50 billion yuan for 2025, 2026, and 2027 respectively, alongside a significant increase in net profit [5][6]. - The company is exploring AI+education new business models in 2025, focusing on deepening its core publishing and gaming businesses while collaborating with tech firms to enhance AI education products [5][6]. Summary by Sections Market Performance - The current stock price is 4.83 yuan, with a total market capitalization of 4 billion yuan and a 52-week price range of 2.21 to 5.55 yuan [2]. Business Development - In 2024, the company achieved a net profit of 0.33 billion yuan, with a revenue of 3.93 billion yuan from its publishing business, reflecting a year-on-year growth of 12.37% [5]. - The company launched a self-developed educational book series that generated over 10 million in sales in its first year, contributing to profit growth [5]. Financial Forecast - The forecast for net profit shows a recovery from a previous decline, with expected figures of 0.74 billion, 1.03 billion, and 1.37 billion yuan for 2025, 2026, and 2027 respectively [6][9]. - The report anticipates a significant increase in earnings per share (EPS) from 0.04 yuan in 2024 to 0.16 yuan by 2027 [12]. Key Financial Metrics - The report highlights a projected revenue growth rate of 11.7% for 2025, with a net profit growth rate of 124.2% [9][12]. - The gross margin is expected to improve from 28.3% in 2024 to 41.8% in 2027, indicating enhanced profitability [12].

Investment Rating - The report assigns a "Buy" investment rating for the company, marking its first coverage [6]. Core Insights - The company's main business is showing continuous improvement, with projected net profits of 0.33 billion and 0.24 billion for 2024 and Q1 2025 respectively, indicating a recovery from previous performance challenges [5]. - The company is exploring AI+education new business models in 2025, focusing on deepening its publishing and gaming sectors while collaborating with tech firms to enhance AI educational products [5]. - Revenue forecasts for 2025-2027 are estimated at 5.15 billion, 5.77 billion, and 6.50 billion respectively, with net profits expected to reach 0.74 billion, 1.03 billion, and 1.37 billion [6][9]. Summary by Sections Business Performance - In 2024, the company's publishing revenue reached 3.93 billion, a year-on-year increase of 12.37%, with youth book sales contributing 3.4 billion [5]. - The company launched a self-developed educational series that achieved over 10 million in sales in its first year, becoming a new profit growth point [5]. AI+Education Strategy - The company aims to build a digital education ecosystem by enhancing its publishing and gaming businesses and collaborating with companies like iFLYTEK to optimize AI educational products [5]. - The launch of the "Biaoji Sauce" app in October 2024 has shown stable growth in daily active users, indicating a successful entry into the youth culture market [5]. Financial Projections - The company anticipates a significant increase in net profit growth rates, with projections of 124.2% for 2025 and 40.7% for 2026 [12]. - Key financial metrics include an expected EPS of 0.09, 0.12, and 0.16 for 2025, 2026, and 2027 respectively, with corresponding P/E ratios decreasing from 54.9 to 29.4 over the same period [6][12].

Core Viewpoint - Tianzhou Culture Co., Ltd. has turned a corner in 2024 after four consecutive years of losses, achieving a net profit of 32.8 million yuan, driven by strong performance in its two main businesses: book publishing and mobile online gaming [1][2] Group 1: Financial Performance - In Q1 2025, the company continued its momentum with a quarterly net profit of 24.3 million yuan, representing a year-on-year increase of 4635.85%, the highest growth rate among listed companies in Hunan [1] - The book publishing segment generated revenue of 393 million yuan in 2024, a year-on-year increase of 12.37%, with self-developed educational books achieving over 10 million in sales in their first year [1] - The mobile online gaming segment saw profits increase by 375.17% in 2024, with significant contributions from games launched by its affiliate, Hainan Yuanyou [1] Group 2: Strategic Direction - The company has redefined its strategic direction under the leadership of founder and controlling shareholder Xiao Zhihong, focusing on a "Big Culture + Technology" strategy [1] - The strategy includes deepening its core businesses while exploring new growth areas such as AI + education, AI digital humans, and the ACG (Anime, Comic, and Games) sector [1][2] - The company is collaborating with iFLYTEK to develop AI + education solutions, enhancing various educational processes through technology [1] Group 3: Innovation and Future Outlook - Tianzhou Culture is actively exploring innovative paths, including investments in the emerging ACG industry, with its subsidiary, Xi'an Biaomeng Technology, rapidly developing a two-dimensional social platform [2] - The company plans to continue integrating culture and technology, focusing on the digitalization, intelligence, and internationalization of the cultural education industry in 2025 [2]

Core Viewpoint - Tianzhou Culture is actively addressing challenges in cash flow and competition while focusing on expanding its core businesses in publishing, education services, and gaming [2][4][5] Group 1: Financial Performance - In Q1 2025, the company reported a main revenue of 74.6 million yuan, an increase of 52.44% year-on-year [5] - The net profit attributable to shareholders reached 24.3 million yuan, a significant increase of 4635.85% year-on-year [5] - The company’s net profit after deducting non-recurring items was 23.0 million yuan, up by 892.31% year-on-year [5] - The debt ratio stands at 24.3%, indicating a stable financial position [5] - The gross profit margin is reported at 43.17% [5] Group 2: Business Operations - The company’s core competencies in the book publishing sector include over 1,000 copyrights and partnerships with top publishing institutions, contributing to a revenue of 393 million yuan in 2024, up 12.37% year-on-year [2] - The establishment of new subsidiaries in 2024 is expected to generate over 47 million yuan in revenue, enhancing sustainable growth [2] - The company is focusing on developing a digital education ecosystem and plans to launch new educational products in collaboration with AI firms [3] Group 3: Industry Challenges and Strategies - The gaming industry is shifting towards high-quality, globalized products, prompting the company to enhance its game development strategy and invest in promising gaming enterprises [3] - The company is implementing a proactive approach to monitor and adapt to regulatory changes affecting the cultural and educational sectors [4] - To combat increasing competition, the company is prioritizing technological innovation and expanding its product matrix while leveraging new technologies like AI and big data [4]

Group 1: Financial Performance - The company's operating cash flow for 2024 was negative, decreasing by 153.02% compared to the previous year, primarily due to payments for last year's goods and purchases [2] - In Q1 2025, the operating cash flow net amount increased by 93.43% year-on-year [2] - The publishing and distribution business generated revenue of 393 million CNY in 2024, an increase of 12.37% year-on-year [3] Group 2: Core Competencies - The company holds over 1,000 copyrights and maintains deep partnerships with top publishing institutions, reaching over 20 provinces and cities in China [3] - The newly established subsidiaries contributed over 47 million CNY in revenue in 2024, enhancing sustainable development [3] - The self-developed educational book series achieved over 10 million CNY in sales in its first year, becoming a new profit growth point [3] Group 3: Strategic Development - The company plans to build a smart education ecosystem in 2025, focusing on AI and personalized education products [4] - It aims to optimize and upgrade educational internet platforms and AI education products in collaboration with AI companies [4] - The company is exploring new business opportunities in digital technology and cultural creativity, including cloud gaming and live streaming sales [4] Group 4: Industry Challenges and Responses - The company is aware of significant policy impacts on the cultural education and gaming industries, particularly regarding content review and data security [5][6] - It has established a mechanism for tracking and interpreting policy dynamics to align business development with regulatory requirements [6] - To address intensified market competition, the company will focus on technological R&D, enhance product differentiation, and strengthen brand value [6]

致：天舟文化股份有限公司 天舟文化股份有限公司 2024年年度股东大会的 法律意见书 湖南启元律师事务所 湖南省长沙市芙蓉区建湘路 393 号世茂环球金融中心 63 层 410005 电话：（0731）82953-778 传真：（0731）82953-779 网站：www.qiyuan.com 关于 2、出席会议的股东或其代理人的资格、身份证明文件等； 2、公司董事会于 2025 年 4 月 24 日在深圳证券交易所网站（http://www.szse.cn） 上公告了公司关于召开 2024 年年度股东大会的通知。 3、公司本次股东大会会议文件。 公司已承诺所有提供给本律师的文件的正本以及经本律师查验与正本保持一致 的副本均为真实、完整、可靠。 本律师现按照律师行业公认的业务标准、道德规范和勤勉尽责精神，就本次股 东大会发表律师见证意见如下： 3、公司本次股东大会采取现场投票和网络投票相结合的方式召开： 一、本次股东大会的召集、召开程序 1、经查验，本次股东大会由公司董事会召集。 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则 ...

证券代码：300148 证券简称：天舟文化 编号：2025-013 天舟文化股份有限公司 二〇二四年年度股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 特别提示 1、本次股东大会以现场投票和网络投票相结合的方式召开； 2、本次会议召开期间未增加、否决或变更提案； 3、本次股东大会对中小股东的表决单独计票，中小股东是指除公 司董事、监事、高级管理人员以及单独或者合计持有本公司 5%以上 股份的股东以外的其他股东。 一、会议召开情况 1、召开时间： （1）现场会议召开时间：2025年5月20日（星期二）下午15:00 （2）网络投票时间：2025年5月20日 其中，通过深圳证券交易所交易系统进行网络投票的时间为2025 年5月20日上午 9:15-9:25，9:30-11:30，下午13:00-15:00。通过深圳证 券交易所互联网系统投票的具体时间为2025年5月20日09:15-15:00的 任意时间。 2、现场会议召开地点：湖南省长沙市开福区匍园路71号马栏山信 息港6栋3楼会议室。 3、召开方式：本次股东大会采取现场投票和网络投票相结合 ...