净利止跌掌阅科技“回春”？免费阅读遇瓶颈，短剧催生第二曲线

Core Viewpoint - After three consecutive years of declining net profit, the company has finally turned around, reporting a net profit increase of 41.46% in its latest financial results [2][4]. Financial Performance - The company's net profit attributable to shareholders reached 49.29 million yuan, marking a year-on-year increase of 41.46% [2][4]. - Total revenue for the company was 2.583 billion yuan, reflecting a year-on-year decline of 7.02% [2][4]. - The digital reading platform revenue decreased by 25.91% to 1.647 billion yuan, while copyright product revenue fell by 39.53% to 158 million yuan [2][4]. Business Strategy and Operations - The company is focusing on optimizing operational efficiency, which has led to a reduction in main business costs, sales expenses, and R&D expenses [4]. - Sales expenses decreased by 11.86% and R&D expenses decreased by 11.51% due to optimized personnel structure [4]. - The company aims to enhance its free reading business and improve operational efficiency to adapt to market changes [3][4]. Derivative Business Development - The company has significantly developed its derivative business, achieving revenue of 776 million yuan, which accounts for 30.02% of total revenue, establishing it as a "second growth curve" [5]. - The short drama market is rapidly growing, with the market size expected to reach 50.5 billion yuan in 2024, surpassing traditional film box office revenue [5][6]. - The company is leveraging its digital reading platform to produce and operate short drama content, enhancing the commercial value of its IP [5][6]. Market Trends and Competitive Landscape - The short drama sector is experiencing a surge, but competition is intense with various players, including long and short video platforms and other companies in the reading field [5][6]. - The company is utilizing data-driven strategies to understand user preferences and optimize content recommendations, aiming to improve the quality and scale of its offerings [6].