新华文轩：坚持推动高质量发展 实现社会效益和经济效益双丰收

Core Viewpoint - Xinhua Wenhui demonstrates strong resilience and competitive strength through quality improvement, innovation empowerment, and management enhancement, achieving impressive operational results in the publishing and education sectors [1][2]. Financial Performance - In 2024, Xinhua Wenhui reported a revenue of 12.329 billion yuan, a year-on-year increase of 3.88%, and a net profit attributable to shareholders of 1.545 billion yuan, with a 2.10% increase in net profit after excluding non-recurring gains and losses [2]. - The compound annual growth rate (CAGR) of net profit attributable to the parent company from 2015 to 2024 is 10.2% [2]. Business Segments - In content publishing, the company focuses on high-quality development, optimizing publishing structures, and enhancing collaboration, ranking 9th in the general book publishing market share [3]. - In education services, Xinhua Wenhui is innovating its channels and mechanisms to improve service capabilities and develop a high-quality education service system [3]. Retail and E-commerce Strategy - The company is transforming its physical bookstore operations and enhancing its online and offline channel integration, including upgrading stores and optimizing e-commerce strategies [4]. - Xinhua Wenhui is leveraging original IPs and developing cultural products to strengthen its market position in the book retail sector [4]. Investor Returns - Xinhua Wenhui has a strong dividend policy, having distributed a total of 4.504 billion yuan in cash dividends since its A-share listing in 2016, with a recent increase in dividends from 3 yuan to 6 yuan per 10 shares [5]. - The company emphasizes shareholder returns and has seen increased investment from major institutional investors, reflecting its recognized investment value [5]. Future Plans - For 2025, Xinhua Wenhui plans to enhance content supply, improve education service quality, optimize reading services, strengthen supply chain capabilities, and leverage capital operations for industry development [6]. - The company aims to achieve high-quality development and become a leading player in the industry by focusing on innovation and digital transformation [6].