IReader Technology(SH:603533) Zheng Quan Zhi Xing·2025-05-12 11:22Company Overview - The company has transitioned from being a "digital reading platform in the internet era" to a "multi-modal content production and operation platform in the AI era" [1] - The short drama business has become the company's largest revenue segment, generating 776 million yuan in 2024 and continuing to grow rapidly in 2025 [1][4] Short Drama Business Development - The company plans to develop its own short drama APP platforms, including a free short drama APP and a paid short drama APP, to enhance user engagement and interaction [2] - The overseas short drama platform iDrama has gained nearly 200,000 new users since its launch, performing well in markets such as the US, South Korea, and Indonesia, and has ranked in the top 50 of entertainment categories on App Store and Google Play [2] AI Integration - The company is optimizing its reading AI, "Zhangyue Shoutong," and advancing AI+multi-modal applications [2] - AI short dramas will include two types: realistic AI short dramas and AI animated short dramas derived from real short dramas, with plans to release approximately three AI short dramas each month [2][5] Revenue and Profitability - The gross margin for the short drama business was 60.87% last year, with expectations for net margins to improve as the business scales [5][7] - The company aims to enhance the profitability of its self-owned short drama platform as user growth stabilizes [8] Future Plans - The company intends to deepen its presence in overseas markets, particularly in North America and Southeast Asia, while increasing the proportion of local dramas on the iDrama platform [8] - The company is exploring the integration of AI interactivity in short dramas as technology matures and market dynamics evolve [8]