股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年12月31日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | 閱文集團 | | | | | | 呈交日期: | 2026年1月5日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | 證券代號 (如上市) | 00772 | 說明 | | | | | | 法定/註冊股份數目 | 面值 | | 法定/註冊股本 | | | --- | --- | --- | --- | --- | --- | | 上月底結存 | 10,000,000,000 | USD | 0.0001 USD | | 1,000,000 | | 增加 / 減少 (-) | | 0 | USD | | 0 | | 本月底結存 | 10,000,000,000 | USD ...

Core Insights - The article discusses the rapid global expansion of Chinese online literature, highlighting the emergence of a multi-polar growth pattern with significant contributions from Latin America, North America, and Eurasia [1][11] - The CEO of a leading Chinese online literature company emphasizes the transition from merely translating content to establishing a global co-creation ecosystem that integrates IP into various cultural industries [1][15] Group 1: Global Expansion of Online Literature - By 2025, online literature is expected to enter a phase of rapid global proliferation, with Latin America's rise creating a new market dynamic [1] - Brazil's user base has surged, becoming the third largest globally, with monthly active users increasing nearly eightfold compared to the previous year [11] - The growth in Latin America is driven by AI-powered multilingual translation, which facilitates cultural exchange and market entry [11][13] Group 2: Business Strategy and Growth Drivers - The company identifies "蓄能" (energy accumulation) as a key theme for 2025, benefiting from external cultural consumption trends and internal capabilities [3] - The focus for 2026 will be on diversifying growth engines rather than relying on a single source, with short dramas and derivative products expected to accelerate [6] - The company aims to create a collaborative ecosystem for short dramas, leveraging a strong IP reserve and top-tier creators [7] Group 3: IP Development and Localization - The company is committed to a dual strategy of deepening its own IP while collaborating with external IPs to create a win-win ecosystem [9] - A systematic capability has been established for product development, supply chain coordination, and marketing across various channels [10] - The approach to localization emphasizes maintaining the original cultural essence while adapting to local preferences, supported by a comprehensive terminology database [12] Group 4: Future Trends and Challenges - The transition from being a "source of Chinese IP" to a "source of global IP" is marked by the ability to cultivate local ecosystems and integrate into international industry chains [15] - Current barriers include cross-cultural understanding, localization depth, and the complexities of global copyright protection [15] - Future growth points are expected to focus on local market deepening, accelerated industry chain development, and enhanced offline experiences [16]

Core Viewpoint - Chinese online literature is evolving from being a source of domestic IP to becoming a new source of global IP [1][17]. Group 1: Global Expansion of Chinese Online Literature - A diverse group of online literature authors from 14 countries participated in the fourth Shanghai International Online Literature Week, indicating the global interest in Chinese online literature [1]. - The "2025 China Online Literature Going Global Trend Report" predicts a rapid global proliferation of online literature by 2025, with Latin America emerging as a significant market alongside North America and Eurasia [1]. - The transition of Chinese online literature from "content translation output" to "model export" and now to "global co-creation" reflects its deep integration into global cultural industries [1][2]. Group 2: Growth Drivers and Market Dynamics - The year 2025 is expected to witness a profound change in the global online literature landscape, with Latin America experiencing significant growth, particularly in Brazil, where monthly active users surged by nearly 800% [11]. - The cultural consumption upgrade and the rapid maturation of new formats like short dramas and comic adaptations are key drivers for the growth of IP development [3][6]. - The company aims to build a multi-faceted growth engine rather than relying on a single source, focusing on short dramas, comic adaptations, and derivative products as core growth areas for 2026 [6][10]. Group 3: Strategies for Market Penetration - The company emphasizes the importance of localizing content and understanding cultural differences in IP selection and translation, particularly in emerging markets [11][12]. - The strategy includes creating a self-sustaining ecosystem for local creators, transforming readers into creators, and fostering a "snowball effect" in content creation [13][14]. - The company is focused on integrating content and merchandise operations to ensure that derivative products enhance the narrative and emotional value of the IP [10]. Group 4: Future Directions and Challenges - The company identifies three key areas for future growth: deepening market localization, accelerating industry chain development, and expanding offline experiences and consumption [17]. - Current barriers include cross-cultural understanding, localized operations, and the complexities of international copyright protection [15]. - The company is exploring innovative "IP + cultural tourism" business models, aiming to create emotional connections and cultural resonance in international markets [16].

Core Insights - The article discusses the rapid global expansion of Chinese online literature, highlighting its increasing influence and the emergence of a new market structure driven by Latin America, North America, and Eurasia [3][20]. Group 1: Global Expansion of Online Literature - By 2025, online literature is expected to enter a phase of rapid global proliferation, with Latin America emerging as a significant market alongside North America and Eurasia [3]. - As of October 31, 2025, WebNovel has nearly 400 million global users and has nurtured around 530,000 writers and over 820,000 original works, with a 20% year-on-year increase in total works [3]. - The global creative force is becoming significantly younger, with 50% of WebNovel's signed authors being born after 2000 [3]. Group 2: Evolution of Online Literature Export - The export of Chinese online literature has progressed through three stages: content translation, establishment of overseas platforms, and deep integration of IP into global industries [4][5]. - The current phase emphasizes the need for Chinese IP to transition from merely "going out" to "integrating in" [5]. Group 3: Market Dynamics and Growth Drivers - The year 2025 is characterized by a cultural consumption upgrade, with quality IP becoming a valuable asset across various media [6]. - New formats like short dramas and animated series are maturing rapidly, enhancing IP conversion efficiency [6]. - The growth of online literature is now described as a "multi-level growth" pattern, particularly with the explosive rise of the Latin American market [20]. Group 4: Strategies for Localization and Cultural Integration - The company employs data insights for differentiated IP selection, recognizing that emotional themes are universal but regional preferences vary significantly [20]. - In translation, the focus is on maintaining the original essence of the stories, supported by a comprehensive terminology database for accurate cultural representation [21]. Group 5: Future Directions and Challenges - The company aims to establish itself as a "global IP source," focusing on creating a self-sustaining ecosystem for overseas original content [25]. - Current barriers include cross-cultural understanding, localized operations, and the complexities of international copyright protection [25].

Core Insights - The article discusses the rapid global expansion of Chinese online literature, highlighting its transition from a national to a global IP source, with significant growth expected by 2025 [1][25]. Group 1: Global Expansion of Chinese Online Literature - A diverse group of online literature writers from 14 countries participated in the fourth Shanghai International Online Literature Week, indicating the global interest in Chinese IP [1]. - According to the "2025 China Online Literature Going Global Trend Report," the online literature market is expected to see rapid global adoption, particularly in Latin America, creating a tripartite market structure with North America, Eurasia, and Latin America [1]. - By October 31, 2025, WebNovel (Qidian International) is projected to have nearly 400 million cumulative global users and over 820,000 original works, with a 20% year-on-year increase in total works [1]. Group 2: Evolution of Online Literature Export Strategies - The CEO of Yuewen Group, Hou Xiaonan, outlined three phases of online literature export: 1.0 focused on content translation, 2.0 on establishing overseas platforms like WebNovel, and 3.0 on global co-creation integrating IP into various industries [2]. - The current phase emphasizes the need for Chinese IP to transition from merely "going out" to "integrating in" global markets [3]. Group 3: Future Growth and Market Dynamics - The keyword for 2025 is "accumulation," driven by cultural consumption upgrades and the maturation of new formats like short dramas and comics, which enhance IP conversion efficiency [4]. - The company aims to diversify its growth engines rather than relying on a single source, with short dramas, comics, and derivative products expected to accelerate in 2026 [7]. - The short drama model has been validated commercially, focusing on quality and thematic expansion, while AI technology is expected to enhance the production of comics [8]. Group 4: Market Trends and Regional Strategies - The global online literature market is experiencing profound changes, with Latin America emerging as a significant player, evidenced by Brazil's user base growing nearly eightfold [19]. - The company employs data insights for differentiated IP selection, adapting to regional preferences while maintaining the essence of the original content [21]. - The success in Latin America demonstrates the global applicability of China's online literature industry model, which can be replicated in other emerging markets [21]. Group 5: Challenges and Opportunities in Global IP Development - The transition to a "global IP source" is measured by the ability to establish a self-sustaining overseas original ecosystem and integrate into international industry chains [22]. - Current barriers include cross-cultural understanding, localization depth, and the complexities of global copyright protection [22]. - The company is focused on creating emotional connections and cultural resonance in international markets through its IP [24].

格隆汇12月29日丨阅文集团(00772.HK)宣布，公司将于2026年3月17日(星期二)举行董事会会议，藉以 (其中包括)考虑及批准公司及其附属公司截至2025年12月31日止年度的全年业绩及其发布，并考虑派发 末期股息(如有)。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產 生或因倚賴該等內容而引致之任何損失承擔任何責任。 閱文集團（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於二零二六年三月十七日（星期 二）舉行董事會會議，藉以（其中包括）考慮及批准本公司及其附屬公司截至二零二五年十二 月三十一日止年度的全年業績及其發佈，並考慮派發末期股息（如有）。 承董事會命 CHINA LITERATURE LIMITED 閱 文 集 團 （於開曼群島註冊成立的有限公司） （股份代號：772） 董事會會議召開日期 CHINA LITERATURE LIMITED 蒲海濤先生 董事會主席及非執行董事 香港，二零二五年十二月二十九日 於本公告日期，董事會由執行董事侯曉楠先生及黃琰先生；非執行董事蒲海濤先生、曹華 益先生及謝晴華先生；獨立非執行董事余楚媛女士、梁秀婷女士及劉駿民先生組成。 ...

Core Insights - The short drama market in China is expected to reach nearly 100 billion yuan by 2025, doubling from 50 billion yuan in 2024, indicating significant growth potential in this sector [1][3] - The success of short dramas is attributed to the ability of companies like Yuewen to produce high-quality content that resonates with audiences, leading to a dual increase in both quantity and quality [3][12] Market Overview - The short drama market is experiencing unprecedented growth, with a projected market size of nearly 100 billion yuan by 2025, up from 50 billion yuan in 2024 [1] - Yuewen has produced over 120 short dramas in 2025, with several achieving "hit drama" status on major platforms [1][3] Company Performance - Yuewen's short dramas have seen a significant increase in both production and viewership, with notable hits like "Good Luck Sweet Wife" achieving over 3 billion views and generating over 80 million yuan in revenue [1][3] - The overall hit rate for Yuewen's short dramas reached 60% by mid-2025, significantly higher than the industry average [7] Strategic Advantages - Yuewen possesses a rich IP reserve, allowing for scalable and sustainable story development, with plans to open over 2,000 web novel IPs for short drama adaptation [6][8] - The company benefits from a strong creator ecosystem, ensuring that adaptations maintain narrative integrity and effectively engage audiences [7][8] Future Growth Potential - The company is also expanding into the comic drama market, which is projected to grow significantly, with an expected market size of over 20 billion yuan in 2025 [9][10] - Yuewen's strategy includes leveraging AI tools to enhance production efficiency and reduce costs in the comic drama sector, further solidifying its competitive edge [10][11] Conclusion - The dual focus on short dramas and comic dramas positions Yuewen to capitalize on the growing demand for visual content, facilitating a transition from a traditional digital reading provider to an IP-driven ecosystem company [12]

每经AI快讯，阅文集团(00772.HK)涨超4%，截至发稿，涨4.12%，报33.84港元，成交额2.29亿港元。 （文章来源：每日经济新闻） ...

Core Viewpoint - The news highlights the significant growth and performance of the short drama segment of the company, with a notable increase in production and market potential in the Chinese micro-short drama industry [1]. Company Performance - As of the report, the company's stock price increased by 4.12%, reaching HKD 33.84, with a trading volume of HKD 229 million [1]. - The company announced that it produced over 120 short dramas in 2025, showcasing a substantial increase in production capacity [1]. Industry Insights - According to Huajin Securities, the micro-short drama market in China is projected to reach CNY 67.79 billion in 2025, representing a year-on-year growth of 34.40% [1]. - The market for online micro-short dramas is expected to exceed CNY 150 billion by 2030, indicating strong future growth potential [1]. - The industry has seen a shift from single-genre "爽剧" to a more diverse range of innovative themes, with brand IP customization becoming mainstream [1]. - From January to August 2025, short video platforms launched 233 brand collaboration micro-short dramas, with 87 new brands entering the market and a brand reinvestment rate exceeding 60%, showing significant year-on-year improvement [1].